MNDY // monday.com Ltd.

DES <GO> NASDAQ CIK 0001845338 ↗

Technology • Computer Software: Prepackaged Software

$94.78 ▼ -3.04 (-3.11%)

MKT CAP: $4.07B • VOL: 1.04M

52W L $58 52W H $210

ALTMAN Z

3.74 SAFE

PIOTROSKI

9 / 9

MNDY // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 59/100 [C-] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C-

RQD CONFIDENCE

59 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Cautious Neutral

01 MASSIVE / SEC XBRL

Forensic Fundamentals

10 / 20

NEUTRAL

FCF +5.2% vs NI +200% • ROIC-WACC -10% • Z 3.74

02 OPRA GEX + SEC 13F

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

14 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

13 / 20

SOLID

20 BASE - 7 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

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SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON MNDY)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 94/100 Z-SCORE: +5.76σ

MNDY Accounting Gap: Net Income (+220%) Outpaced OCF (+7.3%) With +110.2% Working-Capital Build

CASH CONVERSION GAP

+212.7% (NI vs OCF)

RECEIVABLES / WC BLOAT

+110.2% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on monday.com Ltd. (MNDY) exposes a +212.7% Cash Conversion Gap as YoY Net Income growth (+220.0%) diverged from Operating Cash Flow growth (+7.3%). Non-cash current assets and receivables expanded +110.2% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

MNDY // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +45.13%📐 HORIZONTAL RANGE

2026-10-30O $94.41H $97.93L $93.00C $95.60VOL 1.16M

RES: $112.2SUP: $68.52SMA50: $90.78SMA200: $83.40

MNDY // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

NEUTRAL / PAIR TRADE CONVICTION: 52/100

BEAR 0

100 BULL

monday.com Ltd. (MNDY) exhibits 89.2% gross margins and -0.4% return on invested capital within Technology (Computer Software: Prepackaged Software), balanced against a 34.2x enterprise multiple and 7.6% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 89.2% gross profitability converts into -0.1% operating margin and -0.4% ROIC, outpacing sector cost of capital.

ROIC: -0.4% // GM: 89.2%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +26.7% paired with 7.70% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +26.7% // FCF YLD: 7.70%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 3.74 and Piotroski F-Score of 9/9 indicate low near-term refinancing stress.

ALTMAN Z: 3.74 // F-SCORE: 9/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 34.2x trailing P/E (28.7x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 34.2x // EV/EBITDA: —

02. Options Skew & Event Volatility Risk

Options market prices a ±7.6% implied move with a 0.83 put/call ratio around $93.00 max pain.

IMPL MOVE: ±7.6% // P/C: 0.83

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Computer Software: Prepackaged Software require continuous execution to defend 9.6% net margins.

NET MARGIN: 9.6% // D/E: 0.29x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 28.7x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.20).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 34.2x

FORWARD P/E 28.7x

EV / EBITDA —

FCF YIELD 7.70%

GROSS MARGIN 89.2%

OPERATING MARGIN -0.1%

NET MARGIN 9.6%

ROIC % -0.4%

REV GROWTH YOY +26.7%

DILUTED EPS TTM $2.77

DEBT / EQUITY 0.29x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 52.8

5Y EQUITY BETA 1.20

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // MNDYPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $86.73

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for MNDY & activate live FRED threshold breach alerts.

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