By Connor Hart


Shares of Monday.com Ltd. are up more than 12% after the company reported better-than-expected second-quarter results and raised its full-year revenue guidance.

The Israel-based social communication company on Monday said it now expects full-year revenue to be between $498 million and $502 million, up from its previous view of $488 million and $492 million.

Adjusted operating loss is projected to be between $25 million and $24 million and a negative operating margin of 22% to 21%, compared with prior expectations of an adjusted operating loss between $139 million and $135 million and negative operating margin of 28% to 27%, the company reported.

The company reported a wider net loss of $45.7 million, or $1.01 a share, compared with a loss of $32.5 million, or $1.67 a share, in the previous year.

On an adjusted basis, Monday.com said its per-share loss was 33 cents. Analysts polled by FactSet were expecting an adjusted per-share loss of 75 cents.

Revenue for the quarter ended June 30 rose to $123.7 million, ahead of the $118.2 million that FactSet analysts forecasted.

Shares of the company closed Aug. 5 at $127.83 before rising on Monday when they were recently trading at $144.14. The company's stock price is down almost 54% this year.


Write to Connor Hart at connor.hart@wsj.com


(END) Dow Jones Newswires

08-08-22 1125ET