monday.com Investor update

Thank you all for joining us at Elevate 2026, and thank you particularly for management putting on this investor Q&A session. I really appreciate it. I am Byron Stephen, Vice President of Investor Relations. To my left, I have Eliran Glazer, Chief Financial Officer of monday.com, Eran Zinman and Roy Mann, who are Co-Founders and Co-CEOs of monday.com, and Casey George, our CRO. This is an open format. I will remind everybody that we will be reporting our Q3 earnings here very shortly. We will try to keep this less focused on numbers and not talking about our upcoming Q3 results, but more on strategy and product as much as possible. Anybody who is listening to this on audio, we are live streaming this through our investor relations website.

If you have any questions, feel free to email us at ir@monday.com, and we will be happy to take those questions as well. We have two mic runners around here, and we will just open it wide for Q&A.

Yeah, we can hear you, Steve.

Yeah. Thanks. Thanks for the question.

Look, I think I'll start first with generally speaking, feedback that we constantly hear from customers is that nobody's skeptical about AI. Everybody understands AI is a transformative technology. I think we're now in a phase of adoption where customers are saying, "We've been on the side of let's do token maxing, just buying AI for the sake of buying AI." And we're now transitioning into a phase in the industry where customers are saying, "We want to see return on investment. We want to see actual business impact, whether it's reducing cost or increasing the top-line revenues." And I think there's a big gap between the fact that technology exists to actually adopting it. We hear it across the board from customers who bought licenses to use all kind of AI software but saw marginal gain in terms of efficiency.

They understand, and the feedback we hear is that in order to drive a real change in their own company, in their own business, they need deep adoption and guidance more than anything. We heard that feedback. What we announced in our keynote earlier this morning is first that we're establishing a new organization called monday frontier. It's basically a combination of managed services for deploy engineers. We're going to scale this massively going to 2027. We see a lot of demand from customers who basically say, "We want your experts to drive the change within monday.com, the deployment of monday.com." And what we also hear from them is that they want to do it on the platform because they have most of the data inside monday.com, the contacts. They have people already using the platform from across the company.

Something we emphasized during our keynote is that we want people and agents working together. Having people build agents in a siloed way doesn't help. In order to drive real change, you need people and agents, data and context all live in one place. So I think this is a big opportunity for us. This is the way companies are going to adopt AI going forward. And this is exactly what we're going to focus on as a company.

Yeah. So I can take this. So yeah, it is critical. It's like a bunch of things. It's context, but also guardrails. Like access to data and governance. We've just been with the CAB. That's one of the number one concerns in enterprises. I have my data in here, but I really want to know who is accessing what, when, and to trust that. So that's another really critical element. And the context is work for us. You want the agent to do stuff, it knows what all the team did and your projects, your company, your role, what do you need to accomplish? It's already in there. So that's a critical part, and then it knows also to ask for other stuff that might be in other areas. And we see this as the magic part, right?

You ask, it knows already, and like Daniel shared on the stage, he said, "What do you need to do for it?" Says, "Nothing." And I think that's a killer part because it's not only that it's easy to use, it also allows us to create really good agents because we know before, and we can analyze all the data ahead of time, so the agent can also suggest stuff. It also knows it, and it's a better agent. It's not just like pulling the data. It's also having the right agent to do that stuff and look in the data in a certain way. But that's one part of it, and the other, I'll answer your question of external agents. We don't think we're going to be the only agent platform, and it's all-in-one.

There is obviously massive advantage for having a suite that covers everything like we are doing. But there's also a lot of power in connecting to anything else. So whether it's any other source of data that you can pull in and any other agent that you can pull in, and we're equally dedicated to opening up the platform, because again, like we said, the real value comes from having everything work together. When I write something to you and your agent jumps in the conversation, and whether it's on monday.com or not, and has that context or another context, you can imagine synergies happen, and it becomes like a multiplier. So we can also provide all of it if you're a smaller customer, probably. But for the larger enterprises, we're going to be a bigger let's say, piece of the puzzle of all their AI infra.

And maybe just to be more specific, today you can use monday through the API, through MCP, everything is open. You can use monday headless if you want, and also you can import any third-party agent, whether it is on Claude, ChatGPT, or even personal agents into the platform. It is going to be like any other user, and we do not distinguish between native-built agent within the platform to third-party agents.