Monday.com ($MNDY) reported its third-quarter earnings for fiscal year 2024, revealing a revenue of $251 million, which represents a 33% increase year-over-year and exceeds analyst expectations of $246.1 million. The company also reported earnings per share (EPS) of $0.85, surpassing the consensus estimate of $0.63 by $0.22. Despite these positive results, the stock fell approximately 16% in response to a cautious revenue guidance for the fourth quarter, projected between $260 million and $262 million. This guidance reflects a year-over-year growth rate of 28% to 29%. Additionally, the company announced the departure of its Chief Revenue Officer, prompting concerns among investors regarding future revenue growth and valuation. Monday.com also noted significant growth in its customer base, with a 40% increase in customers generating over $50,000 in annual recurring revenue, and a net dollar retention rate of 115% for this cohort. The company has now surpassed $1 billion in annual recurring revenue.