monday.com Ltd.

Good day. My name is Desiree, 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 2024 earnings conference call. I would like to turn the call over to Monday.com's vice president of investor relations, Mr. Byron Stephen. Please go ahead.

Hello, everyone, and thank you for joining us on today's conference call to discuss the financial results for Monday.com's third quarter fiscal year 2024. Joining me today are Roy Mann and Aaron Zimmern, co-CEOs of Monday.com and Elrond Glazer, Monday.com CFO. We released our results for the third quarter fiscal 2024 earlier today. You can find our quarterly shareholder letter along with our investor presentation and a 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 currently available information. These statements involve risks 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 our investor relations website. Now, let me turn the call over to Roy.

Thank you, Byron, and thank you everyone for joining us today. We're fresh off another strong quarter in Q3, highlighted by improving retention trends, strong financial performance, and robust product development. This quarter also marked significant milestones for Monday.com as we surpassed $1 billion in annual recurring revenue. Reaching the $1 billion ARR milestone is not just a number. It's a pivotal moment in our company's journey, and we are ready to build on that momentum. With a total addressable market of over $100 billion, growing 14% annually across four markets. work management, CRM, service management, and software development, there is a substantial opportunity ahead. To drive our next stage growth, we remain committed to deepening and expanding our product offering and increasing our global presence. As the landscape of work evolves, we are determined to stay ahead of the curve by continuously investing in technology, exploring new markets, and fostering a culture of agility. Monday.com is not just keeping pace with the industry, we are shaping its future. Before I turn it over to Iran, I'd like to cover a few changes in our management team. First, we are pleased to announce the appointment of Adidar as Chief Operating Officer, with over 20 years of experience driving sustainable growth in global tech companies. Adi brings significant expertise to our executive team and has already made a strong impact since joining us a few months ago. On a different note, we would like to share that our Chief Revenue Officer, Yoni Oshrov, has informed us that he will depart the CRO role at the end of December. Since joining in 2017 as VP Global Sales and Marketing and becoming the CRO in 2022, Yoni has been instrumental in developing our sales and partner channels, During Yoni's tenure, we have seen remarkable growth with ARR increasing from $10 million to over $1 billion. We are deeply grateful for his contribution and wish him all the best in his future endeavors. We are conducting a global search for Yoni's successor and he will continue to serve as an advisor until the CRO is appointed. Let me now turn it over to Iran to walk you through some of our product highlights for the quarter.