Announced Q4 and FY 2025 earnings, highlighted 27% revenue growth and 41% of ARR from larger customers. Emphasized the shift towards higher ROI investments in the touch business, leveraging AI to improve customer buying process and engagement. Acknowledged challenges in self-serve channels and plans to focus on enterprise-scale deployments.

Monday.com transformed into an AI-powered work execution platform, showcasing strong adoption and financial growth, with Q4 revenue at $334M, up 25% year-over-year, and operating income of $41.9M, signaling durable, profitable growth ahead.

A detailed outlook on fiscal year 2026, highlighting mid-teens income growth, strategic investments in sales and R&D, and a focus on achieving an adjusted free cash flow margin of 19% to 20%. The guidance reflects the company's disciplined execution and momentum in AI and product innovations, while temporarily suspending discussion on 2027 targets due to market uncertainties. Revenue is projected to grow by 18% to 19% year-over-year, with a revenue range of $1.452 billion to $1.462 billion, and non-GAAP operating income is expected to be between $162.5 million and $175 million, maintaining an operating margin of 11% to 12%.

Discussion on the company's 2026 growth expectations, emphasizing enterprise customer expansion and efficiency improvements. Also covers Sidekick's monetization strategy, introducing paid add-ons for enhanced AI capabilities and third-party integrations.

The dialogue discusses how economic conditions affect customer acquisition costs, with a focus on the shift towards higher ROI customers and the impact on smaller businesses. It also addresses concerns about operating margins, attributing lower margins to foreign exchange impacts and investments in AI and strategic growth, while maintaining confidence in the sustainability of current growth rates.

Discussed advantages of building agents within existing workflows, emphasizing data security and enterprise-grade solutions. Also covered factors impacting free cash flow guidance, including AI investments, FX, interest rates, and share buybacks.

Discusses how customers evaluate Monday against competitors, emphasizing AI integration and trustworthiness. Highlights growth through existing products while anticipating AI's increasing role, aiming for 2026 gross margin targets, and outlines fiscal year 2026 growth projections focusing on core products with a shift towards new offerings by 2027.

The dialogue discusses the challenges faced by the no-touch business and the SMB segment, attributing revenue forecast adjustments to market volatility, a lack of improvement in the no-touch business, and the time-consuming nature of business shifts. The speakers emphasize the unpredictability of performance marketing and the decision to adjust revenue targets for 2026 to reflect current economic conditions with higher confidence.

The dialogue focuses on the enterprise go-to-market strategy, highlighting the acceleration in the high-end market due to client preference, vendor consolidation, and AI integration. It discusses high cross-retention and renewal rates among the 50K cohort, emphasizing confidence in retaining and expanding usage on the Monday.com platform. The conversation also touches on aggressive hiring for enterprise reps, particularly AI specialists, and the company's shift in focus to FY2026 execution due to macroeconomic factors, dismissing the FY27 target. The interest and engagement from customers in AI features and the enterprise-grade Monday Vibe tool are noted as key drivers for future growth.

The dialogue explores the diverse applications of VA in customer projects, emphasizing its potential to drive incremental ARR through expanded use cases. It also discusses the shift in performance marketing budgets towards channels with higher ROI, focusing on larger customers for better expansion and retention opportunities.

Discussed the selection process for Vibe coding platforms, emphasizing the unique offering of integrating Vibe coding within an existing platform. Highlighted the competitive edge in work management tools and the historical high in gross retention, with potential for further improvement. Addressed customer churn, noting it primarily affects lower-end customers and does not indicate consolidation onto other platforms.

Discusses Q4 performance, attributing slight underperformance to pricing adjustments. Guidance for 2026 focuses on customer expansion, product adoption, and efficiency improvements. Highlights progress in CRM and service, emphasizing strong revenue momentum and strategic market movement.

A discussion on the impact of AI on software sales channels reveals no significant changes in competitive dynamics. The company attributes sales fluctuations to market chopping and customer comparisons rather than AI competition. It highlights ongoing enhancements to AI capabilities within its platform, steering product development towards increased AI integration.

A discussion regarding the rationale behind a recent price increase for services and considerations for future pricing adjustments across the product range. The conversation also touches on the timing of past price hikes and their implications on customer transitions.

Discussion on the impact of currency appreciation, interest rate changes, and share buyback program adjustments on free cash flow, emphasizing opportunistic share repurchases and potential dividend payments.

Discusses the drivers behind decreased operating income and free cash flow margins, attributing them to AI investments, increased headcount, and FX impact. Highlights the focus on AI and SLG investments, noting potential margin adjustments and the significance of strategic hiring impacts on costs.

The dialogue explores the integration of AI capabilities within existing subscriptions, emphasizing customer preference for predictable pricing models. It highlights the dual approach of embedding AI in workflows while monetizing compute-intensive tasks through credits, shaping future packaging and pricing strategies.