Work-management software provider monday.com reported second-quarter revenue of $299 million, a 27% increase from a year earlier and ahead of analysts’ average estimate of about $293 million. Adjusted earnings rose 16% to $1.09 a share, topping the roughly $0.86 consensus. On a GAAP basis, the company swung to an operating loss of $11.6 million, for a negative operating margin of 4%, compared with a $1.8 million profit and 1% margin a year earlier. For the full 2025 fiscal year, monday.com projected revenue of $1.224 billion to $1.229 billion, slightly above Wall Street’s $1.22 billion forecast and implying growth of about 26%. Management expects non-GAAP operating income between $154 million and $158 million, representing an operating margin of roughly 13%, and anticipates adjusted free cash flow of $320 million to $326 million. Despite the top-line beat and reaffirmed growth outlook, investors sent the shares down about 21% in early New York trading to roughly $248, suggesting concern over the company’s return to operating losses under generally accepted accounting standards.