Core Insights - Polen Capital's "Polen U.S. SMID Cap Growth Strategy" achieved a return of 14.8% gross and 14.4% net of fees in Q3 2025, outperforming the Russell 2500 Growth Index which returned 10.7% [1] Company Performance - Monday.com Ltd. (NASDAQ:MNDY) reported a total revenue of $317 million in Q3 2025, reflecting a 26% increase from the same quarter last year [4] - The stock of Monday.com Ltd. experienced a one-month return of -26.12% and a 52-week decline of 50.41%, closing at $146.85 per share with a market capitalization of $7.57 billion on November 21, 2025 [2][3] Investment Analysis - Despite beating earnings expectations, Monday.com Ltd.'s stock sold off due to conservative guidance for Q3 and the full year, making it one of the significant detractors from the portfolio's performance [3] - The company is recognized for its transition from small and medium businesses (SMB) to enterprise customers, indicating a steady market expansion and long-term growth potential [3] - Although Monday.com Ltd. is acknowledged as a potential investment, certain AI stocks are considered to offer greater upside potential with less downside risk [4]

Core Insights - Inflection Point Investments LLP increased its stake in Monday.com by 11,200 shares during the third quarter, raising total holdings to 21,300 shares valued at $4.1 million as of September 30 [2][6] - The investment firm demonstrated confidence in Monday.com despite a significant share price decline of over 38% from June 30 to September 30 [6] - Monday.com reported a 26% year-over-year revenue increase to $316.9 million for the third quarter, with a narrowed operating loss from $27.4 million to $2.4 million [7] Company Overview - Monday.com Ltd. specializes in modular, cloud-based work management solutions aimed at enhancing organizational productivity and collaboration [5] - The company offers a scalable SaaS platform that focuses on workflow customization, addressing a wide range of operational needs for businesses globally [5] - As of November 20, Monday.com's market capitalization stood at $7.32 billion, with a revenue of $1.17 billion and a net income of $65.06 million for the trailing twelve months [4] Investment Insights - Inflection Point's position in Monday.com now represents 8.8% of its reportable assets, indicating a concentrated equity portfolio consisting of only 9 stocks [8][10] - Despite positive revenue results, the company's guidance for fourth-quarter revenue of $328 million to $330 million (22% to 23% year-over-year growth) led to a selloff in shares, reflecting investor concerns [9]

Group 1 - 3G Capital has taken a new position in Alphabet (GOOG) and Microsoft (MSFT) [1] - The fund has also initiated a position in Broadcom (AVGO) [1] - 3G Capital trimmed its position in Goosehead Insurance (GSHD) and Coupang (CPNG) [1] - The fund exited its position in monday.com (MNDY) [1]

Core Insights - monday.com Ltd. reported a fiscal Q3 2025 revenue growth of 26.24% year-over-year, reaching $316.86 million, exceeding estimates by $4.59 million, with an EPS of $1.16, surpassing expectations by $0.28 [1][2] Financial Performance - The fiscal Q3 results were driven by a strong revenue growth of 26% year-over-year [2] - The company's fiscal Q4 revenue guidance of $328 million to $330 million fell short of analysts' consensus of $333.79 million, leading to price target reductions by analysts [2] Analyst Reactions - Derrick Wood from TD Cowen lowered the price target from $290 to $250 while maintaining a Buy rating, citing strong momentum supported by growth in RPO bookings and an increase in paid customers with over $100,000 in ARR [3] - Brian Schwartz from Oppenheimer also reduced the price target from $300 to $200 but reiterated a Buy rating, emphasizing the company's cloud-based Work Operating System that aids in project and workflow management across various business functions [4]

Core Insights - The article discusses the importance of enabling Javascript and cookies in browsers to ensure proper functionality and access to content [1] Group 1 - The article emphasizes that users may be blocked from proceeding if an ad-blocker is enabled [1]

Core Insights - monday.com (MNDY) reported Q3 2025 non-GAAP EPS of $1.16, exceeding estimates by 30.34% and increasing 36.5% year-over-year [1][8] - Total revenues reached $316.9 million, a 26.2% year-over-year increase, surpassing consensus estimates by 1.55% [1][8] Customer Metrics - MNDY had 1,603 customers with an annual run rate (ARR) of $100,000 or more, up 48% year-over-year [2] - The net dollar retention rate for customers with over $100,000 in ARR was 117% [2] - The number of paid customers with more than 10 users increased to 63,075, a 7% rise from the previous year [2] - The net dollar retention rate for customers with more than 10 users was 115% [2] - Paid customers with over $50,000 in ARR rose to 3,993, a 37% increase year-over-year [3] - Overall net dollar retention was 111% [3] Financial Performance - Adjusted gross margin decreased by 80 basis points year-over-year to 89.6% [4] - Research & development expenses rose 34.4% year-over-year to $57.8 million, accounting for 18.2% of revenues [4] - Sales and marketing expenses increased 16.5% year-over-year to $151.8 million, representing 47.9% of revenues [4] - General & administrative expenses increased by 25.9% year-over-year to $27 million, maintaining 8.5% of revenues [5] - Non-GAAP operating income was $47.5 million, up from $32.2 million year-over-year, with an operating margin of 15% [5] Cash Flow and Balance Sheet - As of September 30, 2025, MNDY had cash, cash equivalents, and marketable securities of $1.74 billion [6] - Operating cash flow was $95.1 million, up from $66.8 million in the previous quarter [6] - Free cash flow for the quarter was $92.3 million, compared to $64.1 million in the previous quarter [6] Future Guidance - For Q4 2025, MNDY expects revenues between $328 million and $330 million, indicating year-over-year growth of 22% to 23% [9] - Non-GAAP operating income is projected to be between $36 million and $38 million, with an operating margin of 11% to 12% [9] - For the full year 2025, MNDY anticipates revenues of $1,226 million to $1,228 million, reflecting approximately 26% year-over-year growth [10] - Expected non-GAAP operating income for 2025 is between $167 million and $169 million, with an operating margin around 14% [10] - Adjusted free cash flow is anticipated to be between $330 million and $334 million, representing a margin of about 27% [10]

Group 1 - The core viewpoint of the news is that Monday.com reported better-than-expected fiscal third-quarter results, with a revenue growth of 26% year-on-year to $316.86 million, surpassing analyst expectations [1] - The adjusted EPS for the quarter was $1.16, exceeding the analyst consensus estimate of 88 cents [1] - For the fiscal fourth-quarter 2025, Monday.com expects revenue guidance of $328.00 million to $330.00 million, slightly below the analyst consensus estimate of $333.68 million [2] Group 2 - The company reiterated its 2025 revenue guidance of $1.224 billion to $1.229 billion, which is in line with the analyst consensus estimate of $1.226 billion [2] - The adjusted operating margin outlook for fiscal fourth-quarter 2025 is projected to be 11% to 12%, while the 2025 outlook is approximately 14% [2] - Following the earnings announcement, analysts adjusted their price targets for Monday.com, with Piper Sandler lowering it from $275 to $250, B of A Securities from $205 to $195, and Baird from $240 to $210 [5]

Group 1 - Trump has stated he will adhere to the spending agreement reversing government layoffs and revealed he is close to reaching a trade agreement with India, planning to lower tariffs on India in the future, though no specific timeline was disclosed [1] - Microsoft is collaborating with TikTok influencers to promote Copilot, aiming to position it as the next generation ChatGPT, targeting the young consumer market to narrow the gap with competitors [2] - Rumble has signed an AI infrastructure agreement and expanded its collaboration with Tether, while planning to acquire the German AI company Northern Data for approximately $767 million to accelerate its AI cloud business [3] Group 2 - Monday.com released disappointing financial forecasts, leading to a 12% drop in its stock price; Marriott is scaling back its 2025 expansion plans due to Sonder's default, adjusting its hotel business development pace [4] - Western Oil reported third-quarter revenue of $6.717 billion; U.S. Treasury yields rose collectively, with the 30-year Treasury yield increasing by 0.78 basis points, and the 3-year Treasury auction yield at 3.579% [5] - The U.S. dollar index rose by 0.07%, with mixed performance among non-U.S. currencies; the Federal Reserve's overnight reverse repurchase agreement (RRP) usage on Monday was $7.152 billion, an increase of $2.249 billion from the previous trading day [6] Group 3 - Berkshire Hathaway has increased donations to its children's foundation to support successors, converting 1,800 shares of Class A stock into 2.7 million shares of Class B stock for donations [7] - The effects of the U.S. government shutdown continue, with over 1,600 flights canceled in a single day; Federal Reserve Governor Milan stated that the potential for the government shutdown to end has not significantly changed the economic outlook [8] - Samsung's Galaxy S26 series is set to launch in February next year, with differences in chip configurations; Honda is reportedly adjusting its new car development in China, delaying the launch of its flagship electric vehicle GT [9] Group 4 - Elon Musk's release of an AI-generated video has sparked controversy, with writer Oates criticizing his lack of cultural literacy; Valve plans to unveil a new VR headset and controllers this Wednesday, potentially revealing Half-Life 3 simultaneously [10] - U.S. stock indices collectively rose, with the Dow Jones up 0.85%, Nasdaq rebounding by 2.3%, and the S&P 500 increasing by 1.3%. Notably, Nvidia surged over 5%, and the Nasdaq Golden Dragon China Index rose by 2.83%, with popular Chinese concept stocks generally increasing [11] - COMEX gold futures rose by 2.76%, closing at $4,120.60 per ounce; international oil prices increased by 0.6% on the 10th, as risk appetite rebounded, overshadowing concerns over supply surplus [12]

Core Insights - Monday.com Ltd. shares dropped over 15% in intra-day trading due to fourth-quarter guidance falling below expectations, despite a strong third-quarter earnings report [1][2] Group 1: Third-Quarter Performance - The company reported third-quarter earnings of $1.16 per share, exceeding forecasts of $0.88 [1] - Revenue for the third quarter reached $316.9 million, surpassing the consensus estimate of $312.3 million [1] - Non-GAAP operating income was $47.5 million, resulting in a 15% operating margin [1] Group 2: Fourth-Quarter Guidance - For the fourth quarter, Monday.com projected revenue between $328 million and $330 million, which is below Wall Street expectations of $333.8 million [2] - The company forecasted non-GAAP operating income of $36 million to $38 million, indicating an 11%–12% margin [2] Group 3: Full-Year 2025 Outlook - Management reiterated revenue guidance for the full year 2025 at $1.23 billion, aligning with analyst consensus [3] - Non-GAAP operating income is expected to be between $167 million and $169 million, with a margin near 14% [3] - Adjusted free cash flow is projected at $330 million to $334 million, representing a 27% margin [3]

Economic and Market Overview - A group of eight moderate Democratic senators has ended a 38-day federal government shutdown, positively impacting pre-market futures [1] - The blue-chip Dow is up 155 points, S&P 500 is up 60 points, and Nasdaq is up 365 points, indicating a strong market response [2] - The 10-year bond yield has increased to 4.12%, while the two-year yield is at 3.60%, reflecting market adjustments [2] - Economic data, including CPI, PPI, and Retail Sales, is expected to be released later this week, which will inform the Federal Reserve's interest rate decisions [3] Company Earnings Reports - Tyson Foods (TSN) reported Q3 earnings of $1.15 per share, exceeding expectations of $0.85, resulting in a positive surprise of 35.3%, although revenue slightly missed at $13.86 billion compared to the expected $13.91 billion [4] - Monday.com (MNDY) posted earnings of $1.16 per share, beating projections of $0.89, with revenues of $316.9 million surpassing the expected $312 million; however, a significant drop in guidance for next-quarter revenues led to a 20% drop in share price [5] - Rigetti (RGTI) is anticipated to report a 37.5% year-over-year earnings growth, with modest revenue growth of 0.42%, and shares are up 120% year to date [6] - Paramount Skydance (PSKY) is expected to report a 6% decline in bottom line year-over-year, with a 1.45% increase in revenues; the outlook will be crucial for investors [7]