monday.com Ltd.

Good day. My name is Alex, and I'll be your conference operator today. At this time, I would like to welcome everyone to Monday.com's third quarter fiscal year 2022 earnings conference call. I would now like to turn the call over to Monday.com's director of investor relations, Mr. Byron Stephen. Please go ahead.

Good day, everyone, and thank you for joining us on today's conference call to discuss the financial results of Monday.com's third quarter fiscal year 2022. Joining me today are Roy Mann and Aaron Zinman, co-CEOs of Monday.com, and Elrond Glazer, Monday.com CFO. We released our results for the third quarter fiscal year 2022 earlier today. You can find our quarterly shareholder letter along with our investor presentation and replay of today's webcast under the news and events section of our IR website at ir.monday.com. Certain statements made on the call today will be forward-looking statements, which reflect management's best judgment based on the currently available information. These statements involve risk and uncertainties that may cause actual results to differ from our expectations. Please refer to our earnings release for more information on the specific factors that could cause actual results to differ materially from our forward-looking statements. Additionally, non-GAAP financial measures will be discussed on the call. Reconciliations to the most directly comparable GAAP financial measures are available in the earnings release and the earnings presentation for today's call, which are posted on the Investor Relations website. With that, let me now turn the call over to Roy.

Thanks, Byron. Good day, everyone, and welcome to our third quarter earnings call. We are pleased to say that Q3 was another terrific quarter for Monday.com. We posted strong growth with enterprise customers, saw continued momentum in our new WorkOS product suite with Monday CRM exceeding expectations, scaled our global workforce and operations, and did it all while generating positive adjusted free cash flow. We ended the quarter with a revenue of $136.9 million, reflecting growth of 65% year-over-year on a reported basis. or 68% on an FX-adjusted basis. Adjusted free cash flow of $14 million, representing a 10% adjusted free cash flow margin. We are closely monitoring uncertainties in the macro environment and the impact it's having on our customer and our business. We currently see two primary headwinds. First, we continue to see pockets of stress in our customer base, in particular in Europe, with some indication of softness spreading to other regions. Second, since we have a large presence of business outside the U.S., the strong U.S. dollar has negatively impacted reported results and represents an FX headwind to revenue growth. Despite these uncertainties, new customer demand remains solid. and acquisition efficiency improved in Q3. While others are pulling back, we continue to see opportunities and invest for growth and gain market share. With our in-house business intelligence tools, BigBrain, we track every marketing campaign in detail, allowing us to easily adapt to changes in the business environment. Let me now turn it over to Eran to walk you through our Q3 product highlights.