By Will Feuer


Shares of Monday.com Ltd. rose after the provider of work-operating systems posted an adjusted profit and raised its full-year revenue outlook.

Shares of the Israel-based software publisher rose more than 20%, to $114.51, in premarket trading. Through Friday's close, the stock was down more than 69% this year.

The company on Monday posted a third-quarter loss of $23 million, or 51 cents a share, narrower than the loss of $28.8 million, or 65 cents a share, that it posted in the same period a year earlier.

Stripping out one-time items, including stock-based compensation, the company posted an adjusted profit of 5 cents a share. According to FactSet, analysts were expecting an adjusted loss of 54 cents a share.

Revenue for the quarter rose 65%, to $136.9 million, topping the $130.4 million expected by Wall Street.

"We made strong progress against our financial and operating plans, which drove improving margins and positive adjusted free cash flow in the third quarter," Chief Financial Officer Eliran Glazer said.

The company also raised its full-year revenue guidance to range of $509 million to $511 million, up from $498 million to $502 million.

The company also now expects a narrower adjusted operating loss than it did before. The company now expects an adjusted operating loss of $83 million to $81 million, compared with prior guidance of $112 million to $108 million.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

11-14-22 0829ET