ClickUp vs monday.com: Revenue, Profit and Business Model
ClickUp does not publish annual revenue. monday.com reported $1.2B of revenue in FY2025 and $233.6M of net income.
Latest financial snapshot
ClickUp
ClickUp does not publish annual revenue or profit.
monday.com
- Latest revenue
- $1.2B (FY2025)
- Net income
- $233.6M
- Net margin
- 19.0%
- Revenue growth
- +58.4% a year, FY2019–FY2025
Financial summary
ClickUp
ClickUp is private and does not publish audited financials, so revenue, profit and margins are not public. The figures it has disclosed are growth metrics: in September 2025 it announced it had surpassed $300 million in ARR, more than 20 million users and 400% growth in AI sales, and in February 2026 it framed new executive hires as preparation for a path to $1 billion-plus ARR. Total disclosed equity funding is roughly $535 million: a $35 million Series A (June 2020), a $100 million Series B at a valuation above $1 billion (December 2020) and a $400 million Series C at about $4 billion (October 2021) co-led by Andreessen Horowitz and Tiger Global. Cost discipline has become a theme since then, with about 10% of staff cut in July 2023 and 22% in May 2026.
monday.com
monday.com's revenue grew from $78.1 million in 2019 to $972.0 million in 2024 and $1.232 billion in 2025 (+27%). The company moved from a $136.9 million net loss in 2022 to GAAP profit in 2024 ($32.4 million) and reported 2025 net income of $233.6 million, which included a $61.2 million non-cash tax benefit. Adjusted free cash flow reached $322.7 million in 2025 (26% margin), and the company ended the year with about $1.5 billion in cash. Growth slowed to 22% in Q2 2026 ($364.6 million revenue), while non-GAAP operating margin improved to 17%. Heavy performance-marketing spend has historically been the largest cost line, and softer self-serve demand drove a steep share-price decline in 2026.
Revenue and profit by year
ClickUp
ClickUp does not publish annual revenue. What is known about its finances is in the summary above.
Full ClickUp financialsmonday.com
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $1.2B | $233.6M | 19.0% | +26.7% | Source |
| FY2024 | $972M | $32.4M | 3.3% | +33.2% | Source |
| FY2023 | $729.7M | -$1.9M | -0.3% | +40.6% | Source |
| FY2022 | $519M | -$136.9M | -26.4% | +68.4% | Source |
| FY2021 | $308.1M | -$129.3M | -42.0% | +91.3% | Source |
| FY2020 | $161.1M | -$152.2M | -94.5% | +106.3% | Source |
| FY2019 | $78.1M | -$91.6M | -117.3% | — | Source |
Where the revenue comes from
ClickUp
No segment breakdown is published.
monday.com
- monday Work Management Subscriptions
Not disclosed
Per-seat recurring subscriptions for cross-functional project tracking and workflow automation.
- monday CRM Subscriptions
Not disclosed
Dedicated sales pipeline management, lead scoring, and automated customer tracking tiers.
- monday dev Subscriptions
Not disclosed
Specialized agile software development roadmapping, sprint planning, and GitHub sync tiers.
- monday Service & WorkCanvas
Not disclosed
ITSM service desk subscriptions and collaborative infinite-canvas digital whiteboards.
Business model and strategy
ClickUp
How it makes money
ClickUp operates a 'Product-Led Growth' (PLG) Freemium SaaS model. The platform is highly accessible for free to individuals and small teams, which drives large organic, viral adoption inside large companies. A single marketing team might start using ClickUp for free. Once they want advanced features (like large storage, AI tools, or complex workflow automations), they hit a paywall.
Growth strategy
ClickUp's growth plan centres on AI. ClickUp Brain is sold as a paid add-on, and the company reported 400% growth in AI sales in 2025. It then bought Qatalog (enterprise search and AI agents, November 2025) and Codegen (autonomous coding agents, December 2025), whose founder Jay Hack became ClickUp's Head of AI, to build 'Super Agents' that complete work inside the workspace rather than just track it.
Competitive advantage
ClickUp's absolute competitive advantage is its extreme flexibility and feature density. It is highly 'opinionated' by not having an opinion; a user can make ClickUp look like a simple to-do list, a complex Kanban board, or a large database spreadsheet.
monday.com
How it makes money
monday.com operates a highly fluid, greatly customizable B2B SaaS (Software as a Service) subscription model. The core product is a 'Board' (a grid of columns and rows). However, the absolute skill of the model is that the board can become anything. A user can instantly configure it to be a CRM for sales, an editorial calendar for marketing, or a bug tracker for engineering.
Growth strategy
Having dominated the 'SMB' (Small and Medium Business) market with aggressive marketing, monday.com's large growth strategy is the highly difficult pivot to 'The Enterprise' (Fortune 500) and highly specialized product suites. They are aggressively building large security and compliance features to satisfy terrified corporate IT managers. they are moving away from just selling 'blank boards';
Competitive advantage
monday.com's absolute competitive advantage is its large superiority in 'No-Code Flexibility' and its highly aggressive User Experience (UX). A traditional software tool forces a company to change its workflow to match the software. monday.com allows the user to instantly change the software to match their weird, specific workflow.
Questions about ClickUp vs monday.com
Which company has higher revenue — ClickUp or monday.com?
monday.com reported $1.2B (FY2025). A verified revenue figure for ClickUp was not available at the time of this comparison.
What is the market cap of ClickUp vs monday.com?
ClickUp's market capitalisation stands at $4.0B, while monday.com's is $3.6B. ClickUp carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to monday.com.
Which is more financially efficient — ClickUp or monday.com?
monday.com generates $390k / employee in revenue per employee. A comparable figure for ClickUp requires matching employee and revenue data from the same reporting period.
How do ClickUp and monday.com make money?
ClickUp and monday.com generate revenue in fundamentally different ways. ClickUp: ClickUp operates a 'Product-Led Growth' (PLG) Freemium SaaS model. monday.com: monday.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the ClickUp vs monday.com overview