monday.com Ltd. (MNDY): Business Model Canvas

In der dynamischen Welt der Arbeitsmanagementsoftware entwickelt sich monday.com zu einer revolutionären Plattform, die die Art und Weise verändert, wie Teams zusammenarbeiten und Projekte ausführen. Durch die raffinierte Kombination visueller Workflow-Automatisierung mit einer intuitiven No-Code-Schnittstelle ermöglicht diese innovative SaaS-Lösung Unternehmen jeder Größe, ihre Abläufe zu rationalisieren und die Produktivität zu steigern. Von kleinen Start-ups bis hin zu großen Unternehmen hat sich das flexible Work OS von monday.com schnell zu einem bahnbrechenden Tool entwickelt, das Teamkoordination, Projektverfolgung und organisatorische Effizienz an einem zunehmend digitalen Arbeitsplatz neu definiert.

monday.com Ltd. (MNDY) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Technologieintegrationen

monday.com unterhält strategische Technologiepartnerschaften mit:

Partner	Integrationsdetails	Gründungsjahr
Salesforce	CRM-Datensynchronisierung	2021
Microsoft	Teams- und Office 365-Integration	2020
Locker	Integration der Workflow-Kommunikation	2019
Zoomen	Zusammenarbeit per Videokonferenz	2020

Cloud-Infrastrukturpartnerschaften

Der wichtigste Cloud-Infrastrukturpartner von monday.com:

• Amazon Web Services (AWS) – Primärer Cloud-Hosting-Anbieter
• Hosting-Infrastruktur mit einer Verfügbarkeit von 99,99 %
• Globale Rechenzentrumspräsenz in mehreren Regionen

Softwareentwicklungs-Ökosystem

Das Kollaborations-Ökosystem umfasst:

Ökosystempartner	Art der Zusammenarbeit
GitHub	Code-Repository-Integration
GitLab	DevOps-Workflow-Integration
Atlassian	Synchronisierung von Projektmanagement-Tools

Channel-Partnerschaften

Zu den globalen Systemintegrator-Partnerschaften gehören:

• Deloitte Digital
• Accenture
• Digitale Dienste von PwC

Implementierungen von Beratungsunternehmen

Partner für Unternehmensimplementierungsdienste:

Beratungsunternehmen	Umsetzungsfokus
KPMG	Optimierung des Unternehmensworkflows
McKinsey Digital	Beratung zur organisatorischen Transformation
Boston Consulting Group	Strategie für den digitalen Arbeitsplatz

monday.com Ltd. (MNDY) – Geschäftsmodell: Hauptaktivitäten

Kontinuierliche Softwareentwicklung und Plattformverbesserung

Im dritten Quartal 2023 investierte monday.com 41,8 Millionen US-Dollar in Forschung und Entwicklung, was 37,5 % des Gesamtumsatzes entspricht.

Entwicklungsmetrik	Wert 2023
F&E-Ausgaben	41,8 Millionen US-Dollar
F&E in % des Umsatzes	37.5%
Insgesamt Software-Ingenieure	438
Jährliche Plattform-Updates	12-15

Kundenerfolg und Support-Operationen

monday.com unterhält ein globales Kundensupport-Team in mehreren Regionen.

• Kundensupport rund um die Uhr verfügbar
• Mehrere Sprachunterstützungskanäle
• Durchschnittliche Antwortzeit: 2,5 Stunden

Marketing- und Kundengewinnungsstrategien

Marketingmetrik	Wert 2023
Marketingkosten	97,3 Millionen US-Dollar
Kundenakquisekosten	41 $ pro Kunde
Jährliche Neukundenakquise	22,500

Produktinnovation und Funktionsentwicklung

monday.com hat im Jahr 2023 38 neue Produktfunktionen eingeführt, wobei der Schwerpunkt auf der KI-Integration liegt.

• KI-gestützte Workflow-Automatisierung
• Erweiterte Integrationsmöglichkeiten
• Anpassbare Dashboard-Erweiterungen

Forschung und Entwicklung von KI-gestützten Arbeitsmanagementlösungen

Ein engagiertes KI-Forschungsteam aus 67 Spezialisten konzentriert sich auf Innovationen im Arbeitsmanagement-Technologiebereich.

KI-Entwicklungsmetrik	Wert 2023
Größe des KI-Forschungsteams	67 Spezialisten
Implementierungen von KI-Funktionen	12 neue KI-Funktionen
KI-F&E-Investitionen	18,6 Millionen US-Dollar

monday.com Ltd. (MNDY) – Geschäftsmodell: Schlüsselressourcen

Advanced Work Operating System (Work OS)-Plattform

Die Kernplattform von monday.com dient als wichtige Schlüsselressource und unterstützt ab dem dritten Quartal 2023 mehr als 186.000 Kunden weltweit. Die Plattform ermöglicht das Workflow-Management in mehr als 200 Branchen.

Plattformmetrik	Quantitative Daten
Gesamtzahl der Kunden	186,000+
Branchen bedient	200+
Jährlicher wiederkehrender Umsatz (2023)	679,3 Millionen US-Dollar

Proprietäres Software-Entwicklungsteam

Das Unternehmen verfügt über eine solide Belegschaft für Softwareentwicklung.

• Gesamtzahl der Mitarbeiter (2023): 1.504
• F&E-Ausgaben (2023): 231,1 Millionen US-Dollar
• Anteil der Software-Ingenieure: Ungefähr 40-45 % der Gesamtbelegschaft

Cloudbasierte Technologieinfrastruktur

monday.com nutzt eine fortschrittliche Cloud-Infrastruktur zur Unterstützung globaler Abläufe.

Infrastrukturmetrik	Spezifikation
Cloud-Hosting-Anbieter	Amazon Web Services (AWS)
Globale Rechenzentren	Mehrere Regionen weltweit
Jährliche Investition in die Cloud-Infrastruktur	45-50 Millionen Dollar

Geistiges Eigentum und Softwarepatente

monday.com verfügt über ein starkes Portfolio an geistigem Eigentum.

• Gesamtzahl der Patentanmeldungen: 12–15
• Aktive Softwarepatente: 8
• Patentinvestition (2023): 3,2 Millionen US-Dollar

Globaler Talentpool

Das Unternehmen verfügt über eine vielfältige, internationale Belegschaft mit SaaS-Expertise.

Talentmetrik	Datenpunkt
Gesamtzahl der Mitarbeiter	1,504
Internationale Büros	6 globale Standorte
Mitarbeiterbindungsrate	85%

monday.com Ltd. (MNDY) – Geschäftsmodell: Wertversprechen

Flexible und anpassbare Arbeitsmanagementplattform

monday.com bietet ab 2024 über 200 vorgefertigte Vorlagen für 14 verschiedene Branchen. Die Plattform unterstützt über 200 Integrationen mit Softwaretools von Drittanbietern.

Vorlagenkategorien	Anzahl der Vorlagen
Projektmanagement	65
Marketing	45
Verkäufe	35
Personalwesen	25
Produktentwicklung	30

Visuelle Zusammenarbeit und Workflow-Automatisierung

Zu den Funktionen zur Workflow-Automatisierung gehören:

• Automatisierte Aufgabenzuweisungen
• Statusaktualisierungen in Echtzeit
• Auslöserbasierte Benachrichtigungen
• Benutzerdefinierte Regelerstellung

Automatisierungsfunktion	Nutzungsprozentsatz
Aufgabenweiterleitung	78%
Statusverfolgung	85%
Terminbenachrichtigungen	72%

Echtzeit-Projektverfolgungs- und Teamproduktivitätstools

Produktivitäts-Tracking-Metriken zeigen eine 40-prozentige Verbesserung der Teameffizienz für Benutzer, die die Plattform von monday.com implementieren.

• Zeiterfassungsfunktionen
• Leistungs-Dashboards
• Tools zur Ressourcenzuweisung

Intuitive No-Code/Low-Code-Schnittstelle

Die Plattform unterstützt die Erstellung benutzerdefinierter Boards mit einer benutzerfreundlichen Benutzeroberfläche von 92 %. Durchschnittliche Einrichtungszeit: 15 Minuten für neue Arbeitsbereiche.

Schnittstellenkomplexität	Benutzerzufriedenheit
Einfach	68%
Mäßig	24%
Komplex	8%

Skalierbarkeit und Integrationsfähigkeiten der Enterprise-Klasse

Unternehmenskunden machen 35 % des Gesamtumsatzes aus. Die Plattform unterstützt die nahtlose Skalierung von 5 auf mehr als 5.000 Benutzer.

• SOC 2 Typ II-konform
• DSGVO- und CCPA-zertifiziert
• 256-Bit-Verschlüsselung

Enterprise-Funktion	Verfügbarkeit
Single Sign-On	Ja
Erweiterte Berechtigungen	Ja
Benutzerdefinierte Domäne	Ja

monday.com Ltd. (MNDY) – Geschäftsmodell: Kundenbeziehungen

Digitales Self-Service-Onboarding

monday.com bietet einen digitalen Self-Service-Onboarding-Prozess mit den folgenden Hauptfunktionen:

• Dauer der kostenlosen Testversion: 14 Tage
• Sofortige Kontoerstellung ohne Kreditkartenpflicht
• Automatisierter Produkt-Walkthrough und Einrichtungsassistent

Onboarding-Metrik	Wert
Durchschnittliche Zeit bis zum ersten Wert	Weniger als 30 Minuten
Benutzeraktivierungsrate	68%

Umfassende Online-Support-Ressourcen

monday.com bietet eine umfangreiche Online-Support-Infrastruktur:

• Online-Hilfe rund um die Uhr verfügbar
• Umfangreiche Dokumentationsbibliothek
• Video-Tutorials und Anleitungen

Support-Kanal	Reaktionszeit
E-Mail-Support	Unter 24 Stunden
Live-Chat	Innerhalb von 5 Minuten

Personalisiertes Kundenerfolgsmanagement

Engagierte Kundenerfolgsmanager bieten maßgeschneiderten Support für Unternehmens- und High-Tier-Kunden.

• Zugewiesene Erfolgsmanager für Unternehmenskonten
• Vierteljährliche Geschäftsberichte
• Individuelle Umsetzungsstrategien

Community-gesteuerte Benutzerforen und Wissensdatenbank

monday.com unterhält aktive Community-Engagement-Plattformen:

• monday.com-Community-Forum
• Benutzergenerierte Inhalte und Vorlagen
• Peer-to-Peer-Supportnetzwerk

Community-Metrik	Wert
Aktive Community-Mitglieder	Über 100.000
Monatliche Community-Interaktionen	50,000+

Regelmäßige Produkt-Webinare und Schulungen

Kontinuierliches Lernen und Engagement durch strukturierte Schulungsprogramme:

• Wöchentliche Live-Produkt-Webinare
• On-Demand-Schulungsmodule
• Zertifizierungsprogramme

Trainingsmetrik	Wert
Monatliche Webinar-Teilnehmer	5,000+
Zertifizierte Benutzer	15,000

monday.com Ltd. (MNDY) – Geschäftsmodell: Kanäle

Direkte Online-Verkaufsplattform

monday.com erzielte im Geschäftsjahr 2022 einen Umsatz von 679,4 Millionen US-Dollar. Die direkte Online-Verkaufsplattform des Unternehmens macht etwa 67 % des Gesamtumsatzes aus, was einem direkten digitalen Umsatz von rund 455 Millionen US-Dollar entspricht.

Vertriebskanal	Prozentsatz	Umsatzbeitrag
Direkte Online-Plattform	67%	455 Millionen Dollar

Enterprise-Verkaufsteam

Das Enterprise-Vertriebsteam von monday.com richtet sich an mittelständische und große Unternehmenskunden. Im dritten Quartal 2023 meldete das Unternehmen 221.000 Kunden, wobei Unternehmenskunden 37 % des gesamten Kundenstamms ausmachten.

Kundensegment	Anzahl der Kunden	Prozentsatz
Gesamtzahl der Kunden	221,000	100%
Unternehmenskunden	81,770	37%

Digitale Marketingkampagnen

monday.com investierte im Jahr 2022 229,7 Millionen US-Dollar in Vertriebs- und Marketingausgaben, darunter digitale Marketingkampagnen über mehrere Kanäle.

App-Marktplätze und Integrationen

monday.com bietet Integrationen mit über 200 Anwendungen von Drittanbietern, darunter:

• Salesforce
• Microsoft-Teams
• Locker
• Google Workspace
• Zoomen

Partner-Empfehlungsnetzwerke

Das Unternehmen hat strategische Partnerschaften mit Technologieberatungsunternehmen und Wiederverkäufern aufgebaut. Der von Partnern generierte Umsatz trägt etwa 15–20 % zum Gesamtumsatz bei.

Partnerkanal	Umsatzbeitrag
Technologieberatungspartner	12%
Reseller-Netzwerke	8%

monday.com Ltd. (MNDY) – Geschäftsmodell: Kundensegmente

Kleine und mittlere Unternehmen

Im vierten Quartal 2023 meldete monday.com 191.000 zahlende Kunden, wobei ein erheblicher Anteil kleine und mittlere Unternehmen (KMU) waren.

KMU-Segmentmetriken	Wert
Durchschnittlicher jährlicher Vertragswert	$7,800
KMU-Kundenbindungsrate	90%

Große Unternehmensorganisationen

monday.com hat seinen Unternehmenskundenstamm erweitert, wobei 25 % des Gesamtumsatzes von Kunden stammen, die mehr als 50.000 US-Dollar pro Jahr ausgeben.

Unternehmenssegmentmetriken	Wert
Anzahl der Unternehmenskunden	1,350
Durchschnittlicher Jahresvertragswert eines Unternehmens	$82,500

Branchenübergreifende professionelle Teams

monday.com bedient mit seinem Arbeitsbetriebssystem mehrere Branchen.

• Technologie: 28 % des Kundenstamms
• Marketing und Werbung: 19 % des Kundenstamms
• Professionelle Dienstleistungen: 15 % des Kundenstamms
• Gesundheitswesen: 12 % des Kundenstamms
• Bildung: 8 % des Kundenstamms

Projektmanagement-Experten

Die Plattform richtet sich speziell an Projektmanagement-Experten aus verschiedenen Branchen.

Segment Projektmanagement	Wert
Benutzer des Projektmanagements	45 % der gesamten Nutzerbasis
Durchschnittliche monatlich aktive Benutzer pro Organisation	37

Remote- und verteilte Arbeitsteams

monday.com verzeichnete ein deutliches Wachstum bei Tools für die Zusammenarbeit bei Remote-Arbeit.

• Akzeptanzrate von Remote-Teams: 62 % Steigerung im Jahr 2023
• Global verteilte Teams: 35 % des Kundenstamms

monday.com Ltd. (MNDY) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2022 meldete monday.com Forschungs- und Entwicklungskosten in Höhe von 155,8 Millionen US-Dollar, was 37,1 % des Gesamtumsatzes entspricht.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz des Umsatzes
2022	155,8 Millionen US-Dollar	37.1%
2021	106,4 Millionen US-Dollar	40.5%

Vertriebs- und Marketinginvestitionen

Die Vertriebs- und Marketingausgaben für monday.com beliefen sich im Jahr 2022 auf insgesamt 264,1 Millionen US-Dollar, was 63 % des Gesamtumsatzes ausmacht.

• Vertriebs- und Marketingausgaben 2022: 264,1 Millionen US-Dollar
• Vertriebs- und Marketingausgaben 2021: 186,9 Millionen US-Dollar

Wartung der Cloud-Infrastruktur

Die Kosten für die Cloud-Infrastruktur für monday.com sind Teil der Umsatzkosten, die im Jahr 2022 41,8 Millionen US-Dollar betrugen.

Geschäftsjahr	Umsatzkosten
2022	41,8 Millionen US-Dollar
2021	26,4 Millionen US-Dollar

Kosten für Personal- und Talentakquise

Die gesamten Betriebskosten im Zusammenhang mit Personal beliefen sich im Jahr 2022 auf 467,2 Millionen US-Dollar.

• Gesamtmitarbeiterzahl im Jahr 2022: 1.457 Mitarbeiter
• Durchschnittliche Kosten pro Mitarbeiter: Ungefähr 320.000 US-Dollar

Kundensupport und Erfolgsoperationen

Die Kosten für den Kundensupport sind in den Vertriebs- und Marketingkosten sowie den allgemeinen Verwaltungskosten enthalten.

Ausgabenkategorie	Betrag 2022
Allgemeines und Verwaltung	83,9 Millionen US-Dollar
Vertrieb und Marketing	264,1 Millionen US-Dollar

monday.com Ltd. (MNDY) – Geschäftsmodell: Einnahmequellen

Abonnementbasiertes Preismodell

monday.com generiert Einnahmen hauptsächlich durch ein abonnementbasiertes Modell mit einem Gesamtumsatz von 679,4 Millionen US-Dollar für das Geschäftsjahr 2022, was einem Wachstum von 47 % gegenüber dem Vorjahr entspricht.

Gestaffelte Preispläne

Plantyp	Monatlicher Preis pro Benutzer	Hauptmerkmale
Basic	$8	Eingeschränkte Funktionen für die Zusammenarbeit
Standard	$10	Erweitertes Workflow-Management
Profi	$16	Berichterstattung auf Unternehmensebene
Unternehmen	Individuelle Preise	Vollständige Plattformanpassung

Monatlicher/jährlicher wiederkehrender Umsatz pro Benutzer

Zum dritten Quartal 2023 berichtete monday.com:

• Nettoumsatzbindungsrate: 125 %
• Durchschnittlicher Umsatz pro zahlendem Kunden: 13.451 $
• Zahlende Kunden insgesamt: 186.700

Professionelle Dienstleistungen und Beratung

Zu den weiteren Einnahmequellen gehören:

• Umsetzungsberatung
• Benutzerdefiniertes Workflow-Design
• Schulungs- und Onboarding-Dienste

Zusätzliche Funktion und Add-on-Monetarisierung

Zusatzservice	Monatspreis
Erweiterte Integrationen	$50-$200
Premium-Support	$100-$500
Benutzerdefinierte Dashboard-Entwicklung	$250-$1,000

monday.com Ltd. (MNDY) - Canvas Business Model: Value Propositions

You're looking at how monday.com Ltd. (MNDY) delivers tangible value to its customers as of late 2025. The core proposition revolves around consolidation, adaptability, and intelligence built into the platform.

Unified Work OS: Centralizing diverse workflows (CRM, Dev, Service) on one platform.

The platform's value is increasingly tied to its multi-product adoption, moving beyond core Work Management. This centralization is showing up in the financials through higher-value customer segments.

• New products (monday CRM, monday dev, monday service, monday campaigns) now account for more than 10% of total ARR as of Q3 2025.
• monday CRM achieved $100 million in Annual Recurring Revenue (ARR) as of Q2 2025.
• monday Campaigns, launched in September 2025, already has more than 200 accounts.

Flexibility and Customization: Users build custom apps and workflows without code.

The no-code/low-code aspect is critical for adoption, especially among non-technical users. The creation of custom applications demonstrates this flexibility in action.

Customization Metric	Value (As of Late 2025)
Custom Apps Created (since July, tied to monday Vibe)	Over 60,000
Customers with more than 10 users (% of ARR)	81%

AI-Powered Productivity: Automating tasks and providing proactive support via AI agents.

AI integration is a major driver of engagement and is moving the platform toward work execution. The adoption rate shows a significant shift in how customers are using the platform.

• Cumulative AI-driven actions across the platform reached over 46 million as of Q2 2025.
• Adoption growth quarter-over-quarter since implementing the AI strategy was more than 150% as of the end of Q1 2025.
• The company offered each customer 500 free AI actions before moving to a usage-based pricing model.

Enterprise Scalability: Robust features for leadership visibility and resource optimization.

The focus on larger accounts is evident in the growth of high-ARR customer cohorts and strong retention within those groups. This shows the platform is successfully embedding itself in critical enterprise operations.

Enterprise Segment Metric (As of Q3 2025)	Count / Rate
Customers with more than $50,000 ARR	3,993
Customers with more than $100,000 ARR	1,603
Customers with more than $500,000 ARR (YoY Growth)	78 (Up 73%)
Net Dollar Retention Rate ($50k+ ARR Customers)	117%

Rapid Time-to-Value: Intuitive interface for quick adoption and immediate impact.

The overall platform health, reflected in retention, suggests users find value quickly enough to expand their usage year over year. The general net dollar retention rate speaks to this stickiness.

• Net Dollar Retention Rate (Overall) was 111% as of Q3 2025.
• Net Dollar Retention Rate for customers with more than 10 users was 115% as of Q3 2025.

monday.com Ltd. (MNDY) - Canvas Business Model: Customer Relationships

You're looking at how monday.com Ltd. manages its relationship with its diverse user base, which spans from small teams to the largest enterprises. It's a multi-pronged approach, balancing efficient digital touchpoints with high-touch human engagement.

Self-Serve Model

The foundation for acquisition, especially for smaller teams and SMBs, remains the low-touch, self-serve path. This is the initial entry point for many, leveraging the platform's inherent usability. Honestly, the company has been strategically shifting away from relying solely on this viral, self-serve strategy toward a more sales-led model to capture larger accounts, but the self-serve entry remains critical for volume. As of early 2025, monday.com Ltd. served approximately 245,000 customers, though this number grew to over 250,000 by late 2025.

Dedicated Account Management

For the high-value segment, the relationship becomes high-touch. This is where dedicated resources focus on driving deeper platform adoption and expansion within large organizations. The success of this strategy is clear in the growth metrics for larger clients. For instance, the number of paid customers with over $100,000 in Annual Recurring Revenue (ARR) grew by an impressive 46% year-over-year in the second quarter of 2025. Furthermore, the monday CRM product alone achieved $100 million in ARR just three years after launch, showing success in upselling specialized solutions.

Here's a snapshot of how retention metrics reflect the success of this upmarket focus:

Customer Segment Metric	Reported Rate/Value	Reporting Period/Context
Overall Net Dollar Retention (NDR)	111%	Q2 Fiscal Year 2025
NDR for Customers with >10 Users	115%	Q1 Fiscal Year 2025
NDR for Customers with > $50,000 ARR	116%	Q1 Fiscal Year 2024
Customers with > $100,000 ARR Growth	46%	Year-over-Year, Q2 2025

Community and Forum Support

Leveraging the scale of the user base for peer-to-peer assistance is a key efficiency driver. The monday Community Forum acts as a hub where members share ideas, ask questions, and explain use cases, which helps deflect simple support tickets. You can see active discussions on feature requests, API usage, and specific workflow challenges, showing a vibrant, self-regulating ecosystem.

• A place for members to share ideas and use cases.
• Active threads on platform discussions and feature requests.
• Dedicated sections for apps and developer resources.

In-Product AI Support

Immediate, contextual help is increasingly delivered via embedded artificial intelligence. The company's AI vision centers on making intelligence accessible directly within workflows. The monday sidekick is one of the announced AI-powered capabilities aimed at providing this immediate assistance. This is building on prior momentum, as customers had already performed approximately 10 million AI-powered actions by the end of FY24. The platform also introduced monday Expert, planned for a Q2 2025 launch, to further enhance automation and decision-making. The monday vibe feature has also seen massive adoption, enabling the creation of over 60,000 apps to date.

Expansion Focus

The core of the growth strategy involves prioritizing cross-selling and upselling to drive expansion revenue within existing accounts. The stated goal for this focus is driving 117% NDR for large customers, indicating a strong expectation for net revenue expansion even as the overall NDR settled around 111% in Q2 2025. This expansion is fueled by the multi-product platform strategy, where newer offerings like monday CRM, monday Dev, and monday Service now contribute more than 10% of total ARR as of Q3 2025.

• Prioritizing cross-selling of the multi-product suite.
• Targeting 117% NDR specifically for the large customer cohort.
• Newer products grew more than 80% year-over-year in Q3 2025.

Finance: draft 13-week cash view by Friday.

monday.com Ltd. (MNDY) - Canvas Business Model: Channels

You're looking at how monday.com Ltd. gets its Work OS into the hands of customers, which is definitely shifting toward larger deals as of late 2025. The strategy is clearly moving upmarket, which impacts how they use each channel.

Direct Sales Force: Inside and field sales teams targeting enterprise accounts.

The focus is on larger customers, which means the direct sales force is crucial for closing these bigger, more complex deals. You can see this push in the growth of high-value accounts.

• The number of paid customers with more than $100,000 in Annual Recurring Revenue (ARR) was 1,603 as of September 30, 2025, marking a 48% year-over-year increase.
• Customers with more than $500,000 in ARR reached 78 in Q3 2025, a 73% increase from 45 as of September 30, 2024.
• The monday CRM product recently hit $100 million in ARR as of the second quarter of fiscal year 2025, just three years after launch.
• The company is actively rebalancing go-to-market investment toward mid-funnel channels that target these larger opportunities, even though this brings longer sales cycles.

Online Self-Service: Website and app stores for trial and subscription sign-ups.

This channel captures the long tail and smaller-to-midsize business sign-ups, though management noted some choppiness in top-of-funnel activity in Q3 2025.

• Total paid customers with more than 10 users stood at 63,075 on September 30, 2025, a 7% increase from 58,760 on September 30, 2024.
• The overall Net Dollar Retention (NDR) rate was reported at 111% for Q3 2025.
• For customers with over 10 users, the NDR was 115% in Q3 2025.

Partner Ecosystem: Channel and referral partners for regional and specialized sales.

The partner ecosystem is a significant growth lever, especially with new specialization frameworks driving revenue in key areas like CRM.

• As of February 2025, monday.com had over 270 solution partners globally.
• Solution partners increased by 24 percent over the year leading up to February 2025.
• Specialist Partners in the CRM specialization now contribute 50% of the CRM channel ARR.
• Over 600 professionals from more than 50 countries were part of the partner ecosystem at the February 2025 Partner Summit.

App Marketplace: Distribution of third-party and custom apps (monday vibe).

The marketplace acts as an extension of the core platform, with custom apps built on platforms like monday Vibe showing rapid adoption.

• The monday.com Marketplace hosted 650 available applications as of February 2025.
• The number of available applications grew by 59 percent in the year leading up to February 2025.
• New products, including monday Service, now account for more than 10% of total ARR as of Q3 2025.
• Over 60000 apps have been built on monday Vibe in approximately 3 months as of Q3 2025.

Digital Marketing: Performance marketing and SEO for lead generation.

While the company is shifting focus upmarket, digital channels remain important for the broader customer base, despite recent acknowledged choppiness.

• Advertising expenditure increased from $98,423 in 2019 to $203,235 in 2023.
• The company is monitoring stabilization or improvement in mid-market and SMB customer acquisition channels.

Here's a quick look at how key customer segments, often indicative of channel success, are performing as of late 2025:

Metric	Value (Q3 2025 End Date)	Year-over-Year Growth
Total Paid Customers (>10 Users)	63,075	7%
Customers (>$50,000 ARR)	3,993	37%
Customers (>$100,000 ARR)	1,603	48%
Customers (>$500,000 ARR)	78	73%

Finance: draft 13-week cash view by Friday.

monday.com Ltd. (MNDY) - Canvas Business Model: Customer Segments

You're looking at how monday.com Ltd. segments its buyers to drive growth, especially as they push further upmarket. The focus is clearly shifting toward larger, more established organizations, but the core base is still critical for volume.

Enterprise Customers are a major growth engine now. Companies spending over $100,000 in ARR (Annual Recurring Revenue) are a key focus, and this segment is pulling a larger share of the total revenue pie. As of the third quarter of 2025, these large accounts now represent 27% of ARR, which is a nice bump up from 22% at the end of the third quarter of 2024. That's defintely a sign of successful enterprise sales execution.

Mid-Market Businesses are the next layer down, often focused on scaling their operations across multiple departments. We can track this group by looking at customers with over $50,000 in ARR. This cohort now makes up 40% of ARR as of Q3 2025, up from 34% a year prior. The company added 291 net new customers in this $50k+ ARR bracket during Q3 2025 alone.

Small and Medium Businesses (SMBs) remain the foundation, often starting with a self-serve trial or lower-tier plan. The total customer base was approximately 245,000 customers as of Q2 2025. These smaller accounts are crucial for product-led growth and feeding the funnel for future expansion.

Diverse Teams show the platform's breadth beyond its original project management use case. The multi-product strategy is working, as new products like monday CRM, monday dev, monday service, and monday campaigns now account for more than 10% of total ARR as of Q3 2025. monday CRM, for instance, recently crossed the $100 million in ARR mark, only three years after its launch.

Here are the latest hard numbers we have on the paid user base and key enterprise tiers, primarily reflecting the Q3 2025 report, but including the specific Q2 2025 metric you requested:

• Paid User Base: Over 61,803 customers with more than 10 users (Q2 2025).
• The number of paid customers with more than 10 users grew to 63,075 as of September 30, 2024, representing 81% of ARR in Q3 2025.
• The largest customers are clearly driving expansion; the net dollar retention rate for customers with more than $100,000 in ARR was 117% in Q3 2025.

To give you a clearer picture of the customer value distribution based on the latest available data (Q3 2025):

Customer Segment (ARR)	Percentage of Total ARR (Q3 2025)	Number of Customers (Q3 2025)	Year-over-Year Customer Growth (Q3 2025 vs Q3 2024)
Over $500,000	6%	78	73%
Over $100,000	27%	1,603	48%
Over $50,000	40%	3,993	37%

The growth in the number of customers over $100,000 in ARR was 48% year-over-year as of Q3 2025, showing that the enterprise focus is translating into more high-value logos. Also, the largest customer segment, those over $500,000 in ARR, grew its customer count by 73% to reach 78 customers.

Finance: draft 13-week cash view by Friday.

monday.com Ltd. (MNDY) - Canvas Business Model: Cost Structure

You're looking at the engine room of monday.com Ltd. (MNDY) to see where the money actually goes to keep this Work OS humming and growing. Honestly, for a company scaling this fast, the cost structure is a direct reflection of its growth strategy-heavy on acquisition and innovation.

Investment in Product and Market Penetration

The biggest levers pulling on the expense side are definitely product development and getting that product into new hands. R&D (Research and Development) is a significant cost driver, showing a major commitment to staying ahead, especially with AI integration. For the full year 2025, management is guiding that they are putting about 18% of revenue back into R&D to fuel that innovation pipeline, including features like monday magic and monday sidekick. Also, Sales and Marketing (S&M) spend remains high, which makes sense as they push for upmarket expansion and continue to acquire new customers. This S&M spend is projected to be around 48% of the full-year 2025 revenue. That's a substantial investment to drive the expected full-year revenue between $1,226 million and $1,228 million.

Here's the quick math on those two major spending categories based on the midpoint of the revenue guidance:

Cost Category	FY 2025 % of Revenue (Est.)	FY 2025 Estimated Spend (Millions USD)
Sales and Marketing (S&M)	48%	~$589.0
Research & Development (R&D)	18%	~$220.9

Workforce and Platform Scaling

Personnel Costs are naturally high given the global scale of operations and the need for top engineering and sales talent. As of September 30, 2025, monday.com Ltd. had 3,018 employees on the payroll. That's a global workforce you need to compensate well to keep that innovation engine running. To support this global platform and the increasing customer base, Cloud Infrastructure costs are a necessary, ongoing expense, covering hosting and the scaling required for their Work OS.

The focus on efficiency, however, is clear when you look at profitability alongside these costs. The company is driving toward better operating leverage, which you can see in the expected bottom line:

• Full-year 2025 non-GAAP operating income is expected to be between $167 million and $169 million.
• This translates to an expected non-GAAP operating margin of approximately 14% for the full year 2025.
• For context, the Q3 2025 non-GAAP operating margin hit 15%, up from around 7% in 2024.

Key Cost Structure Components

When you break down the major cost buckets, you see where the operational discipline is being applied, even while spending heavily on growth. The company is managing to grow revenue at about 26% year-over-year while simultaneously improving margins, which is a tough balancing act. The costs are heavily weighted toward acquiring and serving customers, but the return on that spend is showing up in the operating income guidance.

Here is a summary of the key figures driving the cost structure:

• Personnel base of 3,018 employees as of September 30, 2025.
• R&D spend estimated at 18% of revenue for FY 2025.
• S&M spend estimated at 48% of revenue for FY 2025.
• Expected full-year 2025 non-GAAP operating income in the range of $167 million to $169 million.
• Cloud Infrastructure is a variable but essential cost for platform scaling.

Finance: draft 13-week cash view by Friday.

monday.com Ltd. (MNDY) - Canvas Business Model: Revenue Streams

You're looking at how monday.com Ltd. actually brings in the cash, and it's definitely centered on recurring software access. The core of their revenue engine is the subscription model, which scales up based on what features you need and how many people (seats) are using the platform.

Subscription Fees are structured in a clear, tiered fashion. You start with the entry-level plans and move up as your team's needs for automation, reporting, and security grow. Honestly, the jump in capability between tiers is what drives the upsell.

Pricing Tier	Annual Billed Cost (Per Seat/Month)	Minimum Seats Required	Key Feature Differentiator
Basic	$9	3	Unlimited boards and items
Standard	$12	3	Timeline & Gantt views, 250 Automations/month
Pro	$19	3	Private boards, Time tracking, 25,000 Automations/month
Enterprise	Custom Quote (Benchmark approx. $40)	Varies (Quote-based)	Enterprise-grade security, HIPAA compliance, 250,000 automation actions/month

Also, monday.com Ltd. is successfully driving revenue from its specialized offerings, which is key to moving upmarket. The platform is no longer just project management; it's a Work OS with distinct product lines.

• monday CRM recently hit $100 million in ARR as of the second quarter of 2025.
• New products, as a group, accounted for more than 10% of total ARR as of the third quarter of 2025.
• The platform includes monday dev, which has a base cost starting around $9 per seat/month billed annually for its entry level.

We're also seeing the introduction of Usage-Based Fees, which is a smart way to monetize new features without constantly adjusting the base subscription price. This is where the AI push really shows up in the financials.

• Every paid seat gets 500 AI credits per month included in their subscription.
• The monday vibe platform saw more than 60,000 apps built on it in approximately 3 months leading up to the third quarter of 2025.
• Only subscribers of the top 3 paid plans can purchase the additional AI add-on.

Finally, the big money is coming from Enterprise Contracts. These large, multi-year deals provide significant, predictable Annual Recurring Revenue (ARR) and show the platform's success in landing bigger customers. You can see this momentum in their customer cohort growth.

• The number of paid customers with more than $100,000 in ARR reached 1,472 as of June 30, 2025, a 46% increase year-over-year.
• Customers with over $50,000 in ARR totaled 3,702 as of June 30, 2025, up 36% from the prior year.

For the full-year 2025 outlook, monday.com Ltd. is guiding for Total Revenue between $1,226 million to $1,228 million, which represents approximately 26% year-over-year growth based on the third quarter guidance. That's a solid number to anchor your valuation on. Finance: draft 13-week cash view by Friday.