On August 10, Monday.com Ltd. fell 11.68% in pre-market trading, trading at 85.25 USD/share, with turnover of $5.6451 million.

On the news front, the company released its second-quarter earnings pre-market, while markets continued to digest its previously announced restructuring plan and downward guidance revision. Market consensus had expected Q2 revenue of $355 million and adjusted EPS of $1.11. On July 22, the company disclosed a restructuring plan to cut approximately 20% of its workforce, estimating net charges of $45 million to $55 million, with the majority to be recognized in the second half. Simultaneously, management lowered its full-year revenue growth guidance from 20%-22% to 19%-20%, with non-GAAP operating margin expected at approximately 15%. The concentrated recognition of restructuring charges combined with decelerated growth expectations weighed on market confidence. Notably, in Q1 the company had beaten estimates with revenue of $351.3 million and raised its full-year outlook, making the subsequent guidance cut a sharp reversal in narrative.

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