MONDAY.COM LTD., 6-K filed on 8/11/2025
Report of Foreign Issuer
v3.25.2
Document and Entity Information
 6 Months Ended
Jun. 30, 2025
Entity Addresses [Line Items]  
Entity Registrant Name monday.com Ltd.
Entity Central Index Key 0001845338
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2025
Document Fiscal Period Focus Q2
Amendment Flag false
Document Period End Date Jun. 30, 2025
Document Type 6-K
Entity File Number 001-40461
Entity Address, Address Line One 6 Yitzhak Sadeh Street
Entity Address, City or Town Tel Aviv
Entity Address, Postal Zip Code 6777506
Entity Address, Country IL
v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 1,590,515 $ 1,411,602
Marketable securities 60,102 50,004
Accounts receivable - net of allowance for credit losses of $354 and $296 as of June 30, 2025 (unaudited) and December 31, 2024, respectively 36,196 25,804
Prepaid expenses and other current assets 87,237 44,836
Total current assets 1,774,050 1,532,246
Property and equipment, net 47,232 41,576
Operating lease right-of-use assets 109,612 94,703
Other long-term assets 33,077 16,983
Total long-term assets 189,921 153,262
Total assets 1,963,971 1,685,508
CURRENT LIABILITIES:    
Accounts payable 41,859 35,611
Accrued expenses and other current liabilities 198,429 171,040
Deferred revenue, current 402,794 339,951
Operating lease liabilities, current 29,828 29,013
Total current liabilities 672,910 575,615
Operating lease liabilities, non-current 96,384 77,023
Deferred revenue, non-current 2,299 2,639
Total long-term liabilities 98,683 79,662
Total liabilities 771,593 655,277
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:    
Ordinary shares, no par value – Authorized: 99,999,999 shares as of June 30, 2025(unaudited) and December 31, 2024; Issued and Outstanding: 51,551,462 and 50,773,337 as of June 30, 2025 (unaudited) and December 31,2024, respectively 0 0
Founders’ shares no par value: Authorized: 1 share as of June 30, 2025 (unaudited), and December 31, 2024; Issued and Outstanding: 1 share as of June 30,2025 (unaudited), and December 31, 2024
Additional paid-in capital 1,692,428 1,579,074
Accumulated other comprehensive income 22,984 3,189
Accumulated deficit (523,034) (552,032)
Total shareholders’ equity 1,192,378 1,030,231
Total liabilities and shareholders’ equity $ 1,963,971 $ 1,685,508
v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(PARENTHETICAL) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Accounts receivable - net of allowance for credit losses $ 354 $ 296
Common Stock, No Par Value $ 0 $ 0
Common Stock, Shares Authorized 99,999,999 99,999,999
Common Stock, Shares, Issued 51,551,462 50,773,337
Common Stock, Shares, Outstanding 51,551,462 50,773,337
Founder Share, No Par Value $ 0 $ 0
Founder Shares, Authorized 1 1
Founder Shares, Issued 1 1
Founder Shares, Outstanding 1 1
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]    
Revenue $ 581,264 $ 453,019
Cost of revenue 59,978 47,217
Gross profit 521,286 405,802
OPERATING EXPENSES    
Research and development 156,424 94,868
Sales and marketing 294,310 259,612
General and administrative 72,307 54,550
Total operating expenses 523,041 409,030
Operating loss (1,755) (3,228)
Financial income, net 31,749 27,689
Income before income taxes 29,994 24,461
Income tax expense (996) (3,068)
Net income $ 28,998 $ 21,393
Net income per share attributable to ordinary shareholders, basic $ 0.57 $ 0.43
Net income per share attributable to ordinary shareholders, diluted $ 0.55 $ 0.41
Weighted-average ordinary shares used in calculating net income per ordinary share, basic 51,196,507 49,442,327
Weighted-average ordinary shares used in calculating net income per ordinary share, diluted 53,149,561 52,106,369
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Statement of Comprehensive Income [Abstract]    
Net income $ 28,998 $ 21,393
Change in unrealized gains on marketable securities    
Unrealized losses arising during the period, net of tax (46) 0
Losses (gains) reclassified into earnings, net of tax 0 0
Change in unrealized gains (losses) on cash flow hedges    
Unrealized gains (losses) arising during the period, net of tax 24,004 (5,480)
gains reclassified into earnings, net of tax [1] (4,163) (1,667)
Net current-period other comprehensive income (loss) 19,795 (7,147)
Comprehensive income $ 48,793 $ 14,246
[1] Classified in operating expenses in the Condensed Consolidated Statement of Operations.
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Number of Founder Share
Number of Ordinary Shares
Additional Paid-in Capital
Accumulated Other Comprehensive Income (loss)
 [1]
Accumulated Deficit
Total
Balance at Dec. 31, 2023     $ 1,388,108 $ 9,804 $ (584,404) $ 813,508
Balance, shares at Dec. 31, 2023 1 48,923,903        
Exercise of options     12,573 0 0 12,573
Exercise of options (in shares) 0 671,366        
Issuance of ordinary shares upon vesting of restricted share units     0 0 0 0
Issuance of ordinary shares upon vesting of restricted share units (in shares) 0 223,678        
Issuance of ordinary shares under employee share purchase plan     5,981 0 0 5,981
Issuance of ordinary shares under employee share purchase plan (in shares) 0 39,840        
Share-based compensation     63,814 0 0 63,814
Other comprehensive income     0 (7,147) 0 (7,147)
Net income     0 0 21,393 21,393
Balance at Jun. 30, 2024     1,470,476 2,657 (563,011) 910,122
Balance, shares at Jun. 30, 2024 1 49,858,787        
Balance at Dec. 31, 2024     1,579,074 3,189 (552,032) 1,030,231
Balance, shares at Dec. 31, 2024 1 50,773,337        
Exercise of options     16,134 0 0 $ 16,134
Exercise of options (in shares) 0 415,101       415,101
Issuance of ordinary shares upon vesting of restricted share units     0 0 0 $ 0
Issuance of ordinary shares upon vesting of restricted share units (in shares) 0 325,163        
Issuance of ordinary shares under employee share purchase plan     8,562 0 0 8,562
Issuance of ordinary shares under employee share purchase plan (in shares) 0 37,861        
Share-based compensation     88,658 0 0 88,658
Other comprehensive income     0 19,795 0 19,795
Net income     0 0 28,998 28,998
Balance at Jun. 30, 2025     $ 1,692,428 $ 22,984 $ (523,034) $ 1,192,378
Balance, shares at Jun. 30, 2025 1 51,551,462        
[1] As of June 30, 2025, January 1, 2025, and June 30, 2024, accumulated other comprehensive income is comprised of unrealized gains on derivatives of $22,823, $2,982 and $2,657, respectively, and unrealized gains on marketable securities of $161, $207 and $0, respectively.
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Statement of Stockholders' Equity [Abstract]      
Unrealized gains on derivatives $ 22,823 $ 2,657 $ 2,982
Unrealized gains on marketable securities $ 161 $ 0 $ 207
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 28,998 $ 21,393
Adjustments to reconcile net income to net cash provided by operating activitiesw:    
Depreciation and amortization 6,625 5,453
Share-based compensation 87,603 63,166
Amortization of discount and accretion of interest on marketable securities (95) 0
Changes in operating assets and liabilities:    
Accounts receivable, net (10,392) (1,691)
Prepaid expenses and other assets (26,757) (15,199)
Accounts payable 6,224 21,668
Accrued expenses and other liabilities 24,098 2,710
Deferred revenue 62,503 50,249
Net cash provided by operating activities 178,807 147,749
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (9,571) (5,964)
Capitalized software development costs (1,703) (1,070)
Purchase of marketable securities (10,049) 0
Net cash used in investing activities (21,323) (7,034)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of share options and employee share purchase plan 26,501 19,324
Receipt (repayment)of tax advance relating to exercises of share options and RSUs, net (5,072) 14,075
Net cash provided by financing activities 21,429 33,399
INCREASE IN CASH, AND CASH EQUIVALENTS 178,913 174,114
CASH AND CASH EQUIVALENTS - Beginning of period 1,411,602 1,116,128
CASH AND CASH EQUIVALENTS - End of period 1,590,515 1,290,242
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Non-cash purchases of property and equipment 0 212
Capitalized share-based compensation costs 1,055 648
Right-of-use asset recognized with corresponding lease liability $ 27,111 $ 8,753
v3.25.2
ORGANIZATION AND DESCRIPTION OF BUSINESS
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION AND DESCRIPTION OF BUSINESS
NOTE 1:-
ORGANIZATION AND DESCRIPTION OF BUSINESS
 
monday.com Ltd (“monday.com” and together with its subsidiaries collectively, “the Company”) was incorporated under the laws of Israel and commenced operations in 2012. The Company operates a cloud-based visual Work Operating System (“Work OS”) that consists of modular building blocks that can be easily used and assembled to create software applications and work management tools and serves as a connective layer to integrate with various digital tools across an organization. By using the Company’s Work OS platform and product suite, customers can simplify and accelerate their digital transformation, enhance organizational agility, create a unifying workspace across departments, and increase operational efficiency and productivity.
 
monday.com has nine wholly owned subsidiaries: monday.com Inc. (the “U.S. Subsidiary”) incorporated in the United States in 2016, monday.com UK 2020 Ltd., incorporated under the laws of England in 2020, monday.com PTY Ltd., incorporated in Australia in 2020, monday.com Ltda., incorporated in Brazil in 2021, monday.com K.K., incorporated in Japan in 2021, monday.com Sp.z o.o., incorporated in Poland in 2022, monday.com PTE. LTD., incorporated in Singapore in 2022, monday.com SAS, incorporated in France in 2024, and monday.com GmbH, incorporated in Germany in 2024. The subsidiaries primarily engage in providing business development, presale, and customer success services to the Company’s existing and potential customers.
v3.25.2
BASIS OF PRESENTATION and SIGNIFICANT ACCOUNTING POLICIES
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
BASIS OF PRESENTATION and SIGNIFICANT ACCOUNTING POLICIES
NOTE 2:-
BASIS OF PRESENTATION and SIGNIFICANT ACCOUNTING POLICIES
 
The accompanying condensed consolidated financial statements, which are prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP"), reflect the application of the significant accounting policies described below and elsewhere in the notes to the consolidated financial statements.
 
 
a.
Unaudited Interim Condensed Consolidated Financial Information
 
The accompanying condensed consolidated balance sheet as of June 30, 2025, the condensed consolidated statements of operations, comprehensive income, shareholders’ equity, and cash flows for the six months ended June 30, 2025 and June 30, 2024, and the related notes to such condensed consolidated financial statements are unaudited.
 
These unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and are presented in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP.
 
In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair presentation of the Company’s financial position as of June 30, 2025 and the Company’s consolidated results of operations and cash flows for the six months ended June 30, 2025 and June 30, 2024.
 
The significant accounting policies referenced in the annual consolidated financial statements of the Company as of December 31, 2024, have been applied consistently in these unaudited condensed consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been recorded within the accompanying consolidated financial statements, consisting of normal, recurring adjustments, and all intercompany balances and transactions have been eliminated in the consolidation.
 
The results for the six months ended June 30, 2025, are not necessarily indicative of the results to be expected for the full year ending December 31, 2025, or any other future interim or annual period. The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes contained in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2024, as filed with the SEC on March 17, 2025 (the “Annual Report”).
 
 
b.
Use of estimates
 
The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on assumptions that management considers to be reasonable. The Company assesses these estimates on a regular basis; however, actual results could differ from these estimates.
 
 
c.
Accounting pronouncements not yet effective
 
In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (ASC 740) – Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The amendments in this ASU are required to be adopted in annual periods starting January 1, 2025. Early adoption is permitted, and the amendments should be applied on a prospective basis. The Company is currently evaluating the effect of adopting the ASU on its disclosures.
 
In November 2024, the FASB issued ASU 2024-03, Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires the disaggregation of certain expenses in the financial statements notes, to provide enhanced transparency into the expense captions presented on the face of the consolidated statement of operations. ASU 2024-03 is effective for annual reporting periods beginning January 1, 2027 and interim periods beginning January 1, 2028 and may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that ASU 2024-03 will have on its related disclosures, and the transition method.
v3.25.2
REVENUE RECOGNITION
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION
NOTE 3:-
REVENUE RECOGNITION
 
Deferred Revenue and Remaining Performance Obligations
 
The Company generates revenues from the sale of subscriptions to customers to access its cloud-based Work OS platform in accordance with ASC 606. The Company recognized $291,230 and $208,362 of revenue during the six months ended June 30, 2025 (unaudited) and June 30, 2024 (unaudited), respectively, that were included in the deferred revenue balances as of January 1, 2025, and 2024, respectively.
 
As of June 30, 2025 (unaudited), the Company's remaining performance obligations from contracts with customers were $767,789, of which the Company expects to recognize approximately 86% as revenues over the next 12 months and the remainder thereafter.
 
Deferred Contract Acquisition Costs
 
Deferred contract acquisition costs are amortized over a period of benefit of three years. The period of benefit was estimated by considering factors such as historical customer attrition rates, the useful life of the Company’s technology, and other factors.
 
The following table summarizes the activity of deferred contract acquisition costs:
 
   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
Beginning balance
  
$
20,522
    
$
3,675
  
Capitalization of deferred contract costs
    
34,787
      
10,187
  
Amortization
    
(9,090
)
    
(1,825
)
Ending balance
  
$
46,219
    
$
12,037
  

 

   
June 30,
2025
    
December 31,
2024
  
   
(Unaudited)
        
Deferred contract costs, current
  
$
20,160
    
$
10,409
  
Deferred contract costs, noncurrent
    
26,059
      
10,113
  
Total deferred contract costs
  
$
46,219
    
$
20,522
  

 

Deferred contract costs, current is presented within prepaid expenses and other current assets in the condensed consolidated balance sheets. Deferred contract costs, noncurrent is presented within other long-term assets in the condensed consolidated balance sheets.
v3.25.2
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES
 6 Months Ended
Jun. 30, 2025
Cash and Cash Equivalents [Abstract]  
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES
NOTE 4:-
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES

 
   
June 30,
    
December 31,
  
   
2025
    
2024
  
   
(Unaudited)
        
Cash and cash equivalents:
            
Cash
  
$
73,804
    
$
98,392
  
Bank deposits
    
182,327
      
21,936
  
Money market funds
    
1,334,384
      
1,291,274
  
Total cash and cash equivalents
    
1,590,515
      
1,411,602
  
Marketable securities:
                
U.S. Treasury bills
    
60,102
      
50,004
  
Total marketable securities
    
60,102
      
50,004
  
Total cash and cash equivalents and marketable securities
  
$
1,650,617
    
$
1,461,606
  
 
The following is a summary of available-for-sale marketable securities as of June 30, 2025, and December 31, 2024, excluding securities classified within cash and cash equivalents on the consolidated balance sheet:

 

   
June 30, 2025
  
   
(Unaudited)
  
   
Amortized cost
    
Gross unrealized gains
    
Gross unrealized losses
    
Fair value
  
Contractual maturity:
                        
Within one year
  
$
59,941
    
$
161
    
$
-
    
$
60,102
  
After one year through five years
    
-
      
-
      
-
      
-
  
Total
  
$
59,941
    
$
161
    
$
-
    
$
60,102
  
 
   
December 31, 2024
  
   
Amortized cost
    
Gross unrealized gains
    
Gross unrealized losses
    
Fair value
  
Contractual maturity:
                        
Within one year
  
$
49,797
    
$
207
    
$
-
    
$
50,004
  
After one year through five years
    
-
      
-
      
-
      
-
  
Total
  
$
49,797
    
$
207
    
$
-
    
$
50,004
  
 
As of June 30, 2025 (unaudited) and December 31, 2024, interest receivable on marketable securities amounted to $81 and $86 and is included within marketable securities in the consolidated balance sheet.
v3.25.2
PREPAID EXPENSES AND OTHER CURRENT ASSETS
 6 Months Ended
Jun. 30, 2025
Prepaid Expense and Other Assets, Current [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS
NOTE 5:-
PREPAID EXPENSES AND OTHER CURRENT ASSETS

 
   
June 30,
    
December 31,
  
   
2025
    
2024
  
   
(Unaudited)
        
Prepaid expenses
  
$
23,526
    
$
15,944
  
Related parties’ receivable
    
81
      
1,587
  
Government institutions
    
12,408
      
7,376
  
Derivative instruments
    
22,825
      
2,984
  
Interest receivable
    
5,010
      
4,864
  
Short-term vendor deposits
    
436
      
335
  
Deferred contract costs
    
20,160
      
10,409
  
Other current assets
    
2,791
      
1,337
  
Total prepaid expenses and other current assets
  
$
87,237
    
$
44,836
  
v3.25.2
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
 6 Months Ended
Jun. 30, 2025
Accrued Liabilities, Current [Abstract]  
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
NOTE 6:-
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

 
   
June 30,
    
December 31,
  
   
2025
    
2024
  
   
(Unaudited)
        
Accrued employee compensation and benefits
  
$
108,845
    
$
95,960
  
Accrued expenses
    
67,598
      
56,528
  
Advances from customers
    
5,826
      
3,431
  
Income and indirect taxes payable
    
16,160
      
15,121
  
Total
  
$
198,429
    
$
171,040
  
v3.25.2
FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
NOTE 7:-
FAIR VALUE MEASUREMENTS
 
The following table presents information about the Company’s financial assets that have been measured at fair value on a recurring basis, as of June 30, 2025 (unaudited), and December 31, 2024, and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value:

 

   
As of June 30,
    
As of December 31,
  
   
2025
    
2024
  
   
Level 1
    
Level 2
    
Total
    
Level 1
    
Level 2
    
Total
  
   
(Unaudited)
                    
Cash equivalents:
                                    
Money market funds
  
$
1,334,384
    
$
-
    
$
1,334,384
    
$
1,291,274
    
$
-
    
$
1,291,274
  
                                                 
Marketable securities:
                                                
U.S. Treasury bills
    
60,102
      
-
      
60,102
      
50,004
      
-
      
50,004
  
                                                 
Foreign currency derivative contracts:
                                                
Foreign exchange contracts
    
-
      
22,825
      
22,825
      
-
      
2,984
      
2,984
  
Total
  
$
1,394,486
    
$
22,825
    
$
1,417,311
    
$
1,341,278
    
$
2,984
    
$
1,344,262
  
 
The Company classifies its highly liquid money market funds and marketable securities within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. Foreign currency derivative contracts are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments.
v3.25.2
DERIVATIVES AND HEDGING
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVES AND HEDGING
NOTE 8:-
DERIVATIVES AND HEDGING
 
The Company uses derivative instruments primarily to manage exposures to foreign currency exchange rate and to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. The fair values of derivative instruments and the line items to which they were recorded are summarized as follows:
 
     
June 30,
    
December 31,
  
 
Balance sheet line item
  
2025
    
2024
  
     
(Unaudited)
        
Derivatives designated as hedging instruments:
              
Foreign exchange contracts
Prepaid expenses and other current assets
  
$
22,825
    
$
2,984
  
       
22,825
      
2,984
  
Derivatives not designated as hedging instruments:
                  
       
-
      
-
  
Total
    
$
22,825
    
$
2,984
  
 
The effect of derivative instruments on cash flow hedging, as well as the effect of instruments not designated as hedge and the relationship between income and other comprehensive income for the six months ended June 30, 2025 (unaudited) and June 30, 2024 (unaudited), are summarized below:
 
   
Gain (Loss) Recognized
in Other Comprehensive
Income on Effective-
Portion of Derivative, net
    
Realized gains on Derivative Reclassified from Accumulated Other Comprehensive Income (*)
    
Amount Excluded from Effectiveness Testing Recognized in Income (Loss)
  
   
Six months ended June 30
    
Six months ended June 30
    
Six months ended June 30
  
   
2025
    
2024
    
2025
    
2024
    
2025
    
2024
  
   
(Unaudited)
  
Derivatives designated as hedging instruments:
                                    
Foreign exchange contracts
  
$
24,004
    
$
(5,480
)
  
$
4,163
    
$
1,667
    
$
(182
)
  
$
-
  
     
24,004
      
(5,480
)
    
4,163
      
1,667
      
(182
)
    
-
  
Derivatives not designated as hedging instruments:
                                                
Foreign exchange contracts
    
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
24,004
    
$
(5,480
)
  
$
4,163
    
$
1,667
    
$
(182
)
  
$
-
  
 
(*) Classified in operating expenses in the Condensed Consolidated Statement of Operations.
 
The notional amounts of the outstanding derivatives are summarized as follows:           
      
   
June 30,
2025
    
December 31,
2024
  
   
(Unaudited)
        
Derivatives designated as hedging instruments:
            
Foreign exchange contracts:
            
NIS
  
$
274,259
    
$
209,487
  
Total
  
$
274,259
    
$
209,487
  
v3.25.2
LEASES
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
LEASES
NOTE 9:-
LEASES
 
The Company has entered into various non-cancelable operating leases for its offices expiring between fiscal 2025 and 2035. Certain lease agreements contain an option for the Company to extend the lease term or an option to terminate a lease early. The Company considers these options, which may be elected at the Company’s sole discretion, in determining the lease term on a lease-by-lease basis. Additionally, the Company entered into certain cancelable monthly lease agreements for short-term periods of up to one year. The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2025 (unaudited):
 
   
Amount (*)
  
       
The remainder of 2025
  
$
16,047
  
2026
    
25,101
  
2027
    
21,049
  
2028
    
21,119
  
2029
    
19,665
  
Thereafter
    
37,948
  
Total undiscounted cash flows
  
$
140,929
  
Less: Imputed interest
  
$
(14,717
)
Present value of lease liabilities
  
$
126,212
  
 
(*) The table above excludes the additional floors associated with the new lease in Israel discussed in Note 10.

 

Supplemental balance sheet information related to leases is as follows:
 
   
June 30,
2025
    
December 31,
2024
  
   
(Unaudited)
        
Weighted-average remaining lease term
  
5.9 years
    
5.2 years
  
Weighted-average discount rate
    
3.9
%
    
4.2
%
v3.25.2
COMMITMENTS AND CONTINGENCIES
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
NOTE 10:-
COMMITMENTS AND CONTINGENCIES
 
 
a.
Guarantees
 
As of June 30, 2025 (unaudited) and December 31, 2024, the Company has provided a bank guarantee in the amount of $12,688 and $8,264, respectively, to secure its lease agreements.
 
 
b.
Indemnifications
 
The Company enters into standard indemnification provisions in the ordinary course of business, including certain customers, business partners, the Company’s officers, and directors. Pursuant to these provisions, the Company has agreed to indemnify and defend the indemnified party claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims because of the Company’s activities or non-compliance with certain representations and warranties made by the Company.
 
It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. To date, losses recorded in the Company’s consolidated statements of operations in connection with the indemnification provisions have not been material. There are no claims pending as of June 30, 2025, related to indemnification agreements.
 
The Company has entered into service-level agreements with some of its enterprise customers defining levels of uptime reliability and performance and permitting those customers to receive credits for prepaid amounts related to unused subscription services if the Company fails to meet the defined levels of uptime in a certain calendar month. To date, the Company has not experienced any significant failures to meet defined levels of uptime reliability and performance. In addition, since the calculation is monthly for each calendar month there is no uncertainty at the end of the reporting period. Therefore, the Company has not accrued any liabilities related to these agreements in the consolidated financial statements.
 
 
c.
Legal Contingencies
 
The Company is currently not involved in any material claims or legal proceedings. The Company reviews the status of each legal matter it is involved in, from time to time, in the ordinary course of business and assesses its potential financial exposure.
 
 
d.
Other Commitments
 
Other commitments include payments to third-party vendors for services related mainly to hosting-related services, software licenses and services. Future minimum payments under the Company's other commitments, as of June 30, 2025 (unaudited), are as follows:
 
   
Amount
  
The remainder of 2025
  
$
18,361
  
2026
    
34,762
  
2027
    
17,710
  
2028
    
-
  
Total contractual obligations
  
$
70,833
  
 
On January 27, 2025 (unaudited), the Company entered into an operating lease agreement for new offices in Israel. The lease commenced on February 1, 2025. During the six months ended June 30, 2025, the Company received partial access and is expected to obtain access to additional floors during 2026. The total undiscounted cash flows associated with the additional floors amounted to $34,950 with a total lease term of ten years. This new operating lease agreement was excluded from the table above.
v3.25.2
FINANCIAL INCOME, NET
 6 Months Ended
Jun. 30, 2025
Other Income and Expenses [Abstract]  
FINANCIAL INCOME, NET
NOTE 11:-
FINANCIAL INCOME, NET

 

   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
Financial expenses:
            
Bank charges and other
  
$
278
    
$
274
  
Exchange rate expense, net
    
-
      
1,309
  
Total financial expenses
    
278
      
1,583
  
                 
Financial income:
                
Exchange rate income, net
    
556
      
-
  
Interest income on deposits, money market funds and marketable securities
    
30,158
      
29,272
  
Accretion of discount on marketable securities
    
1,313
      
-
  
Total financial income
    
32,027
      
29,272
  
Financial income, net
  
$
31,749
    
$
27,689
  
v3.25.2
RELATED PARTIES
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
RELATED PARTIES
NOTE 12:-
RELATED PARTIES
 
There were no material related party transactions in each of the six months ended June 30, 2025 (unaudited) and 2024 (unaudited).
v3.25.2
SHAREHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 13:-
SHAREHOLDERS’ EQUITY
 
 
a.
Ordinary shares
 
The holders of ordinary shares are entitled to one vote per share, to dividends as decided by the Board, and in the event of the Company's liquidation, to the surplus assets of the Company. The Company has the following ordinary shares reserved for future issuance:
 
   
June 30,
2025
    
December 31,
2024
  
   
(Unaudited)
        
             
Ordinary shares
    
51,551,462
      
50,773,337
  
Outstanding share options and RSUs
    
3,032,942
      
3,164,395
  
Shares available for future grants under the 2021 plan
    
10,871,688
      
8,941,243
  
Shares available for future grants under the 2024 Foundation plan
    
14,410
      
15,000
  
Shares subject to the employee share purchase plan
    
1,118,576
      
1,156,437
  
Total
    
66,589,078
      
64,050,412
  
 
 
b.
Share-based compensation
 
Share option activity for the six months ended June 30, 2025 (unaudited) is as follows:
 
   
Number of Options
    
Weighted-Average Exercise Price
    
Weighted Average Remaining Contractual life
    
Aggregate Intrinsic Value
  
   
(Unaudited)
  
Outstanding — January 1, 2025 (*)
    
1,768,230
    
$
62.90
      
6.04
    
$
305,379
  
Granted (*)
    
42,897
    
$
0.87
                  
Exercised
    
(415,101
)
  
$
38.74
                  
Expired and forfeited
    
(34,323
)
  
$
54.03
                  
Outstanding — June 30, 2025
    
1,361,703
    
$
68.54
      
5.68
    
$
334,903
  
Exercisable — June 30, 2025 (*)
    
1,134,484
    
$
64.20
      
5.34
    
$
283,937
  
 
(*) Includes 73,074 performance options granted to the Company’s Co-CEOs in 2022, 74,108 in 2023, 22,481 in 2024, and 20,217 in 2025, as applicable.
 
The aggregate intrinsic value was calculated as the difference between the exercise price of the share options and the fair value of the underlying common shares as of June 30, 2025, and January 1, 2025. The intrinsic value of options exercised in the six months ended June 30, 2025 (unaudited), and June 30, 2024 (unaudited), was approximately $109,427 and $136,250, respectively. The weighted-average grant-date fair value of options granted during the six months ended June 30, 2025 (unaudited) and June 30, 2024 (unaudited) was $252.64 and $217.99, respectively.
 
The following table summarizes the activity for the Company's RSUs for the six months ended June 30, 2025 (unaudited):
 
   
Number of Units
    
Weighted-Average Fair Value
  
   
(Unaudited)
  
             
Balance at January 1, 2025 (*)
    
1,396,165
    
$
177.72
  
Granted (*)
    
696,448
    
$
269.61
  
Vested
    
(325,163
)
  
$
175.71
  
 Canceled
    
(96,211
)
  
$
176.79
  
Balance at June 30, 2025 (*)
    
1,671,239
    
$
216.46
  
 
(*) Includes 22,928 performance shares granted to the Company’s Co-CEOs in 2023, and 48,129 and 62,211 performance shares granted to the Company’s Co-CEOs and several executives in 2024 and 2025, respectively.
 
As of June 30, 2025 (unaudited), and June 30, 2024 (unaudited) there was $230,702 and $156,611 of total unrecognized compensation cost related to unvested restricted share units, respectively, which is expected to be recognized over a weighted-average period of 1.89 and 1.87 years, respectively.
 
Share-based compensation expense for the six months ended June 30, 2025 (unaudited) and June 30, 2024 (unaudited), is as follows:
 
   
Six months ended June 30,
  
   
2025
    
2024
  
             
Cost of revenues
  
$
3,406
    
$
3,116
  
Research and development
    
43,347
      
23,193
  
Sales and marketing
    
19,205
      
18,068
  
General and administrative
    
21,645
      
18,789
  
Share-based compensation, net of amounts capitalized
  
$
87,603
    
$
63,166
  
Capitalized share-based compensation expense
    
1,055
      
648
  
Total share-based compensation
  
$
88,658
    
$
63,814
  

 

As of June 30, 2025 (unaudited) and June 30, 2024 (unaudited), unamortized share-based compensation expense was $241,268 and $173,557, respectively, which is expected to be recognized over weighted average periods of 1.88 and 1.84 years, respectively.
 
The following table summarizes the Black-Scholes assumptions used at the grant dates:
 
   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
Risk-free interest rate
    
3.74%-4.1%
 
    
4.03%-4.77%
 
Expected dividend yield
    
0%
 
    
0%
 
Expected term (in years)
    
2-7
      
5-7
  
Expected volatility
    
57.02%-59.32%
 
    
57.81%
 
 
 
c.
Employee Share Purchase Plan
 
During the six months ended June 30, 2025 (unaudited) and June 30, 2024 (unaudited) employees purchased 37,861 and 39,840 ordinary shares, respectively, under the monday.com Ltd. 2021 Employee Share Purchase Plan (the “ESPP”) at average prices of $226.01 and $150.10 per share, respectively. For the six months ended June 30, 2025 (unaudited) and June 30, 2024 (unaudited), the Company recognized $3,613 and $2,320 of compensation expense in connection with the ESPP, respectively.
v3.25.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
NOTE 14:-
EARNINGS PER SHARE
 
The following table presents the calculation of basic and diluted net income per share:
 
   
Six months ended June 30,
  
   
2025
    
2024
  
Numerator:
  
(Unaudited)
  
Net income attributable to ordinary shareholders, basic and diluted
  
$
28,998
    
$
21,393
  
                 
Denominator:
                
Weighted-average ordinary shares outstanding, basic
    
51,196,507
      
49,442,327
  
                 
Dilutive effect
                
Employee stock options, RSUs and PSUs
    
1,953,054
      
2,664,042
  
Weighted average ordinary shares outstanding, diluted
    
53,149,561
      
52,106,369
  
                 
Net income per share attributable to ordinary shareholders, basic
  
$
0.57
    
$
0.43
  
Net income per share attributable to ordinary shareholders, diluted
  
$
0.55
    
$
0.41
  
 
The potential Ordinary shares that were excluded from the computation of diluted income per share attributable to ordinary shareholders for the periods presented because including them would have been anti-dilutive are as follows:
 
   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
             
Options
    
-
      
248,083
  
RSUs
    
29,176
      
90,105
  
Total
    
29,176
      
338,188
  
v3.25.2
SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING
NOTE 15:-
SEGMENT REPORTING
 
The Company’s chief operating decision maker (“CODM”) uses consolidated net income to monitor period-over-period results and decides where to allocate and invest additional resources within the business to continue growth.
 
The following is a summary of the significant expense categories and consolidated net income details provided to the CODM:
 
   
Six months ended June 30,
  
   
2025
    
2024
  
             
Total revenues
  
$
581,264
      
453,019
  
                 
Share-based compensation
    
(87,603
)
    
(63,166
)
Tax benefit (expense) related to share-based compensation
    
(78
)
    
3,525
  
Other segment items (*)
    
(464,585
)
    
(371,985
)
Net income
  
$
28,998
    
$
21,393
  
 
(*) Other segment expense items included within net income include payroll, financial income, net, advertising and marketing activities, overhead and depreciation, travel and entertainment, income taxes, information technology and communication, sales commissions and other miscellaneous expenses.
 
Revenues are attributed to geographic areas based on location of the end customers as follows:
 
   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
United States
  
$
293,324
    
$
242,075
  
EMEA
    
124,902
      
98,445
  
United Kingdom
    
62,300
      
46,865
  
Rest of the world
    
100,738
      
65,634
  
Total
  
$
581,264
    
$
453,019
  

 

Long-lived assets and Operating lease right-of-use assets by geographical areas were as follows:
 
   
As of
June 30,
2025
    
As of
December 31,
2024
  
   
(Unaudited)
        
Israel
  
$
94,257
    
$
72,613
  
United States
    
13,467
      
17,895
  
United Kingdom
    
46,953
      
43,030
  
Rest of the world
    
2,168
      
2,741
  
Total
  
$
156,845
    
$
136,279
  
v3.25.2
BASIS OF PRESENTATION and SIGNIFICANT ACCOUNTING POLICIES (Policies)
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Unaudited Interim Condensed Consolidated Financial Information
 
a.
Unaudited Interim Condensed Consolidated Financial Information
 
The accompanying condensed consolidated balance sheet as of June 30, 2025, the condensed consolidated statements of operations, comprehensive income, shareholders’ equity, and cash flows for the six months ended June 30, 2025 and June 30, 2024, and the related notes to such condensed consolidated financial statements are unaudited.
 
These unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and are presented in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP.
 
In management’s opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair presentation of the Company’s financial position as of June 30, 2025 and the Company’s consolidated results of operations and cash flows for the six months ended June 30, 2025 and June 30, 2024.
 
The significant accounting policies referenced in the annual consolidated financial statements of the Company as of December 31, 2024, have been applied consistently in these unaudited condensed consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been recorded within the accompanying consolidated financial statements, consisting of normal, recurring adjustments, and all intercompany balances and transactions have been eliminated in the consolidation.
 
The results for the six months ended June 30, 2025, are not necessarily indicative of the results to be expected for the full year ending December 31, 2025, or any other future interim or annual period. The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes contained in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2024, as filed with the SEC on March 17, 2025 (the “Annual Report”).
Use of estimates
 
b.
Use of estimates
 
The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on assumptions that management considers to be reasonable. The Company assesses these estimates on a regular basis; however, actual results could differ from these estimates.
Accounting pronouncements not yet effective
 
c.
Accounting pronouncements not yet effective
 
In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (ASC 740) – Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The amendments in this ASU are required to be adopted in annual periods starting January 1, 2025. Early adoption is permitted, and the amendments should be applied on a prospective basis. The Company is currently evaluating the effect of adopting the ASU on its disclosures.
 
In November 2024, the FASB issued ASU 2024-03, Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires the disaggregation of certain expenses in the financial statements notes, to provide enhanced transparency into the expense captions presented on the face of the consolidated statement of operations. ASU 2024-03 is effective for annual reporting periods beginning January 1, 2027 and interim periods beginning January 1, 2028 and may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that ASU 2024-03 will have on its related disclosures, and the transition method.
v3.25.2
REVENUE RECOGNITION (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue Recognition and Deferred Revenue [Abstract]  
Schedule of activity of deferred contract acquisition costs
   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
Beginning balance
  
$
20,522
    
$
3,675
  
Capitalization of deferred contract costs
    
34,787
      
10,187
  
Amortization
    
(9,090
)
    
(1,825
)
Ending balance
  
$
46,219
    
$
12,037
  
Schedule of contract with customer asset and liability
   
June 30,
2025
    
December 31,
2024
  
   
(Unaudited)
        
Deferred contract costs, current
  
$
20,160
    
$
10,409
  
Deferred contract costs, noncurrent
    
26,059
      
10,113
  
Total deferred contract costs
  
$
46,219
    
$
20,522
  
v3.25.2
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Cash and Cash Equivalents [Abstract]  
Schedule of cash and cash equivalents and marketable securities
   
June 30,
    
December 31,
  
   
2025
    
2024
  
   
(Unaudited)
        
Cash and cash equivalents:
            
Cash
  
$
73,804
    
$
98,392
  
Bank deposits
    
182,327
      
21,936
  
Money market funds
    
1,334,384
      
1,291,274
  
Total cash and cash equivalents
    
1,590,515
      
1,411,602
  
Marketable securities:
                
U.S. Treasury bills
    
60,102
      
50,004
  
Total marketable securities
    
60,102
      
50,004
  
Total cash and cash equivalents and marketable securities
  
$
1,650,617
    
$
1,461,606
  
Schedule of available-for-sale marketable securities
   
June 30, 2025
  
   
(Unaudited)
  
   
Amortized cost
    
Gross unrealized gains
    
Gross unrealized losses
    
Fair value
  
Contractual maturity:
                        
Within one year
  
$
59,941
    
$
161
    
$
-
    
$
60,102
  
After one year through five years
    
-
      
-
      
-
      
-
  
Total
  
$
59,941
    
$
161
    
$
-
    
$
60,102
  
 
   
December 31, 2024
  
   
Amortized cost
    
Gross unrealized gains
    
Gross unrealized losses
    
Fair value
  
Contractual maturity:
                        
Within one year
  
$
49,797
    
$
207
    
$
-
    
$
50,004
  
After one year through five years
    
-
      
-
      
-
      
-
  
Total
  
$
49,797
    
$
207
    
$
-
    
$
50,004
  
v3.25.2
PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)
 6 Months Ended
Jun. 30, 2025
Prepaid Expense and Other Assets, Current [Abstract]  
Schedule of prepaid expenses and other current assets
   
June 30,
    
December 31,
  
   
2025
    
2024
  
   
(Unaudited)
        
Prepaid expenses
  
$
23,526
    
$
15,944
  
Related parties’ receivable
    
81
      
1,587
  
Government institutions
    
12,408
      
7,376
  
Derivative instruments
    
22,825
      
2,984
  
Interest receivable
    
5,010
      
4,864
  
Short-term vendor deposits
    
436
      
335
  
Deferred contract costs
    
20,160
      
10,409
  
Other current assets
    
2,791
      
1,337
  
Total prepaid expenses and other current assets
  
$
87,237
    
$
44,836
  
v3.25.2
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Accrued Liabilities, Current [Abstract]  
Schedule of accrued expenses and other current liabilities
   
June 30,
    
December 31,
  
   
2025
    
2024
  
   
(Unaudited)
        
Accrued employee compensation and benefits
  
$
108,845
    
$
95,960
  
Accrued expenses
    
67,598
      
56,528
  
Advances from customers
    
5,826
      
3,431
  
Income and indirect taxes payable
    
16,160
      
15,121
  
Total
  
$
198,429
    
$
171,040
  
v3.25.2
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of fair value of financial assets and liabilities
   
As of June 30,
    
As of December 31,
  
   
2025
    
2024
  
   
Level 1
    
Level 2
    
Total
    
Level 1
    
Level 2
    
Total
  
   
(Unaudited)
                    
Cash equivalents:
                                    
Money market funds
  
$
1,334,384
    
$
-
    
$
1,334,384
    
$
1,291,274
    
$
-
    
$
1,291,274
  
                                                 
Marketable securities:
                                                
U.S. Treasury bills
    
60,102
      
-
      
60,102
      
50,004
      
-
      
50,004
  
                                                 
Foreign currency derivative contracts:
                                                
Foreign exchange contracts
    
-
      
22,825
      
22,825
      
-
      
2,984
      
2,984
  
Total
  
$
1,394,486
    
$
22,825
    
$
1,417,311
    
$
1,341,278
    
$
2,984
    
$
1,344,262
  
v3.25.2
DERIVATIVES AND HEDGING (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values of derivative instruments
     
June 30,
    
December 31,
  
 
Balance sheet line item
  
2025
    
2024
  
     
(Unaudited)
        
Derivatives designated as hedging instruments:
              
Foreign exchange contracts
Prepaid expenses and other current assets
  
$
22,825
    
$
2,984
  
       
22,825
      
2,984
  
Derivatives not designated as hedging instruments:
                  
       
-
      
-
  
Total
    
$
22,825
    
$
2,984
  
Schedule of income and other comprehensive income
   
Gain (Loss) Recognized
in Other Comprehensive
Income on Effective-
Portion of Derivative, net
    
Realized gains on Derivative Reclassified from Accumulated Other Comprehensive Income (*)
    
Amount Excluded from Effectiveness Testing Recognized in Income (Loss)
  
   
Six months ended June 30
    
Six months ended June 30
    
Six months ended June 30
  
   
2025
    
2024
    
2025
    
2024
    
2025
    
2024
  
   
(Unaudited)
  
Derivatives designated as hedging instruments:
                                    
Foreign exchange contracts
  
$
24,004
    
$
(5,480
)
  
$
4,163
    
$
1,667
    
$
(182
)
  
$
-
  
     
24,004
      
(5,480
)
    
4,163
      
1,667
      
(182
)
    
-
  
Derivatives not designated as hedging instruments:
                                                
Foreign exchange contracts
    
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
24,004
    
$
(5,480
)
  
$
4,163
    
$
1,667
    
$
(182
)
  
$
-
  
 
(*) Classified in operating expenses in the Condensed Consolidated Statement of Operations.
 
Schedule of notional amounts of outstanding derivative
   
June 30,
2025
    
December 31,
2024
  
   
(Unaudited)
        
Derivatives designated as hedging instruments:
            
Foreign exchange contracts:
            
NIS
  
$
274,259
    
$
209,487
  
Total
  
$
274,259
    
$
209,487
  
v3.25.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of operating leases future minimum lease payments
   
Amount (*)
  
       
The remainder of 2025
  
$
16,047
  
2026
    
25,101
  
2027
    
21,049
  
2028
    
21,119
  
2029
    
19,665
  
Thereafter
    
37,948
  
Total undiscounted cash flows
  
$
140,929
  
Less: Imputed interest
  
$
(14,717
)
Present value of lease liabilities
  
$
126,212
  
 
(*) The table above excludes the additional floors associated with the new lease in Israel discussed in Note 10.
Schedule of supplemental balance sheet information
   
June 30,
2025
    
December 31,
2024
  
   
(Unaudited)
        
Weighted-average remaining lease term
  
5.9 years
    
5.2 years
  
Weighted-average discount rate
    
3.9
%
    
4.2
%
v3.25.2
COMMITMENTS AND CONTINGENCIES (Tables)
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of future minimum payments, other commitments, liability, fiscal year maturity
   
Amount
  
The remainder of 2025
  
$
18,361
  
2026
    
34,762
  
2027
    
17,710
  
2028
    
-
  
Total contractual obligations
  
$
70,833
  
v3.25.2
FINANCIAL INCOME, NET (Tables)
 6 Months Ended
Jun. 30, 2025
Other Income and Expenses [Abstract]  
Schedule of financial income (expenses)
   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
Financial expenses:
            
Bank charges and other
  
$
278
    
$
274
  
Exchange rate expense, net
    
-
      
1,309
  
Total financial expenses
    
278
      
1,583
  
                 
Financial income:
                
Exchange rate income, net
    
556
      
-
  
Interest income on deposits, money market funds and marketable securities
    
30,158
      
29,272
  
Accretion of discount on marketable securities
    
1,313
      
-
  
Total financial income
    
32,027
      
29,272
  
Financial income, net
  
$
31,749
    
$
27,689
  
v3.25.2
SHAREHOLDERS' EQUITY (Tables)
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
Schedule of ordinary shares reserved for future issuance
   
June 30,
2025
    
December 31,
2024
  
   
(Unaudited)
        
             
Ordinary shares
    
51,551,462
      
50,773,337
  
Outstanding share options and RSUs
    
3,032,942
      
3,164,395
  
Shares available for future grants under the 2021 plan
    
10,871,688
      
8,941,243
  
Shares available for future grants under the 2024 Foundation plan
    
14,410
      
15,000
  
Shares subject to the employee share purchase plan
    
1,118,576
      
1,156,437
  
Total
    
66,589,078
      
64,050,412
  
Schedule of share option activity
   
Number of Options
    
Weighted-Average Exercise Price
    
Weighted Average Remaining Contractual life
    
Aggregate Intrinsic Value
  
   
(Unaudited)
  
Outstanding — January 1, 2025 (*)
    
1,768,230
    
$
62.90
      
6.04
    
$
305,379
  
Granted (*)
    
42,897
    
$
0.87
                  
Exercised
    
(415,101
)
  
$
38.74
                  
Expired and forfeited
    
(34,323
)
  
$
54.03
                  
Outstanding — June 30, 2025
    
1,361,703
    
$
68.54
      
5.68
    
$
334,903
  
Exercisable — June 30, 2025 (*)
    
1,134,484
    
$
64.20
      
5.34
    
$
283,937
  
 
(*) Includes 73,074 performance options granted to the Company’s Co-CEOs in 2022, 74,108 in 2023, 22,481 in 2024, and 20,217 in 2025, as applicable.
Schedule of unvested restricted stock units
   
Number of Units
    
Weighted-Average Fair Value
  
   
(Unaudited)
  
             
Balance at January 1, 2025 (*)
    
1,396,165
    
$
177.72
  
Granted (*)
    
696,448
    
$
269.61
  
Vested
    
(325,163
)
  
$
175.71
  
 Canceled
    
(96,211
)
  
$
176.79
  
Balance at June 30, 2025 (*)
    
1,671,239
    
$
216.46
  
 
(*) Includes 22,928 performance shares granted to the Company’s Co-CEOs in 2023, and 48,129 and 62,211 performance shares granted to the Company’s Co-CEOs and several executives in 2024 and 2025, respectively.
Schedule of share-based compensation expense
   
Six months ended June 30,
  
   
2025
    
2024
  
             
Cost of revenues
  
$
3,406
    
$
3,116
  
Research and development
    
43,347
      
23,193
  
Sales and marketing
    
19,205
      
18,068
  
General and administrative
    
21,645
      
18,789
  
Share-based compensation, net of amounts capitalized
  
$
87,603
    
$
63,166
  
Capitalized share-based compensation expense
    
1,055
      
648
  
Total share-based compensation
  
$
88,658
    
$
63,814
  
Schedule of black-scholes stock option assumptions used at the grant dates
   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
Risk-free interest rate
    
3.74%-4.1%
 
    
4.03%-4.77%
 
Expected dividend yield
    
0%
 
    
0%
 
Expected term (in years)
    
2-7
      
5-7
  
Expected volatility
    
57.02%-59.32%
 
    
57.81%
 
v3.25.2
EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Schedule of calculation of basic and diluted net loss per share
   
Six months ended June 30,
  
   
2025
    
2024
  
Numerator:
  
(Unaudited)
  
Net income attributable to ordinary shareholders, basic and diluted
  
$
28,998
    
$
21,393
  
                 
Denominator:
                
Weighted-average ordinary shares outstanding, basic
    
51,196,507
      
49,442,327
  
                 
Dilutive effect
                
Employee stock options, RSUs and PSUs
    
1,953,054
      
2,664,042
  
Weighted average ordinary shares outstanding, diluted
    
53,149,561
      
52,106,369
  
                 
Net income per share attributable to ordinary shareholders, basic
  
$
0.57
    
$
0.43
  
Net income per share attributable to ordinary shareholders, diluted
  
$
0.55
    
$
0.41
  
Schedule of potentially dilutive shares excluded from computation of diluted income (loss) per share attributable to ordinary shareholders
   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
             
Options
    
-
      
248,083
  
RSUs
    
29,176
      
90,105
  
Total
    
29,176
      
338,188
  
v3.25.2
SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of the significant expense categories and consolidated net loss details provided to the CODM
   
Six months ended June 30,
  
   
2025
    
2024
  
             
Total revenues
  
$
581,264
      
453,019
  
                 
Share-based compensation
    
(87,603
)
    
(63,166
)
Tax benefit (expense) related to share-based compensation
    
(78
)
    
3,525
  
Other segment items (*)
    
(464,585
)
    
(371,985
)
Net income
  
$
28,998
    
$
21,393
  
 
(*) Other segment expense items included within net income include payroll, financial income, net, advertising and marketing activities, overhead and depreciation, travel and entertainment, income taxes, information technology and communication, sales commissions and other miscellaneous expenses.
Schedule of revenues attributed to geographic areas based on location of end customers
   
Six months ended June 30,
  
   
2025
    
2024
  
   
(Unaudited)
  
United States
  
$
293,324
    
$
242,075
  
EMEA
    
124,902
      
98,445
  
United Kingdom
    
62,300
      
46,865
  
Rest of the world
    
100,738
      
65,634
  
Total
  
$
581,264
    
$
453,019
  
Schedule of property and equipment, net by geographical areas
   
As of
June 30,
2025
    
As of
December 31,
2024
  
   
(Unaudited)
        
Israel
  
$
94,257
    
$
72,613
  
United States
    
13,467
      
17,895
  
United Kingdom
    
46,953
      
43,030
  
Rest of the world
    
2,168
      
2,741
  
Total
  
$
156,845
    
$
136,279
  
v3.25.2
REVENUE RECOGNITION (Narrative) (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]    
Revenue $ 291,230 $ 208,362
Remaining performance obligations from contracts with customers $ 767,789  
v3.25.2
REVENUE RECOGNITION (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Revenue Recognition and Deferred Revenue [Abstract]    
Beginning balance $ 20,522 $ 3,675
Capitalization of deferred contract costs 34,787 10,187
Amortization (9,090) (1,825)
Ending balance $ 46,219 $ 12,037
v3.25.2
REVENUE RECOGNITION (Details 1) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Revenue Recognition and Deferred Revenue [Abstract]    
Deferred contract costs $ 20,160 $ 10,409
Deferred contract costs, noncurrent 26,059 10,113
Total deferred contract costs $ 46,219 $ 20,522
v3.25.2
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES (Narrative) (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Marketable Securities [Member]    
Marketable Securities [Line Items]    
Interest receivable on marketable securities $ 81 $ 86
v3.25.2
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Cash and cash equivalents:    
Cash $ 73,804 $ 98,392
Bank deposits 182,327 21,936
Money market funds 1,334,384 1,291,274
Total cash and cash equivalents 1,590,515 1,411,602
Marketable Securities [Abstract]    
Total marketable securities 60,102 50,004
Total cash and cash equivalents and marketable securities 1,650,617 1,461,606
U.S. Treasury bills [Member]    
Marketable Securities [Abstract]    
Total marketable securities $ 60,102 $ 50,004
v3.25.2
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES (Details 1) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Amortized cost    
Within one year $ 59,941 $ 49,797
After one year through five years 0 0
Total 59,941 49,797
Gross unrealized gains    
Within one year 161 207
After one year through five years 0 0
Total 161 207
Gross unrealized losses    
Within one year 0 0
After one year through five years 0 0
Total 0 0
Fair value    
Within one year 60,102 50,004
After one year through five years 0 0
Total $ 60,102 $ 50,004
v3.25.2
PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Prepaid Expense and Other Assets, Current [Abstract]    
Prepaid expenses $ 23,526 $ 15,944
Related parties’ receivable 81 1,587
Government institutions 12,408 7,376
Derivative instruments 22,825 2,984
Interest receivable 5,010 4,864
Short-term vendor deposits 436 335
Deferred contract costs 20,160 10,409
Other current assets 2,791 1,337
Total prepaid expenses and other current assets $ 87,237 $ 44,836
v3.25.2
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Accrued Liabilities, Current [Abstract]    
Accrued employee compensation and benefits $ 108,845 $ 95,960
Accrued expenses 67,598 56,528
Advances from customers 5,826 3,431
Income and indirect taxes payable 16,160 15,121
Total $ 198,429 $ 171,040
v3.25.2
FAIR VALUE MEASUREMENTS (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total $ 1,417,311 $ 1,344,262
Money Market Funds [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash equivalents 1,334,384 1,291,274
U.S. Treasury bills [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Marketable securities 60,102 50,004
Foreign exchange contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Foreign currency derivative contracts 22,825 2,984
Level 1 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total 1,394,486 1,341,278
Level 1 [Member] | Money Market Funds [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash equivalents 1,334,384 1,291,274
Level 1 [Member] | U.S. Treasury bills [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Marketable securities 60,102 50,004
Level 1 [Member] | Foreign exchange contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Foreign currency derivative contracts 0 0
Level 2 [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total 22,825 2,984
Level 2 [Member] | Money Market Funds [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash equivalents 0 0
Level 2 [Member] | U.S. Treasury bills [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Marketable securities 0 0
Level 2 [Member] | Foreign exchange contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Foreign currency derivative contracts $ 22,825 $ 2,984
v3.25.2
DERIVATIVES AND HEDGING (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Derivative [Line Items]    
Derivative instruments $ 22,825 $ 2,984
Designated as Hedging Instrument [Member]    
Derivative [Line Items]    
Derivative instruments 22,825 2,984
Not Designated as Hedging Instrument [Member]    
Derivative [Line Items]    
Derivative instruments 0 0
Foreign exchange contracts | Prepaid expenses and other current assets | Designated as Hedging Instrument [Member]    
Derivative [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, before Offset $ 22,825 $ 2,984
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Prepaid Expense and Other Assets, Current  
v3.25.2
DERIVATIVES AND HEDGING (Details 1) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Derivative [Line Items]    
Loss Recognized in Other Comprehensive Income on Effective - Portion of Derivative, net $ 24,004 $ (5,480)
Realized Gain (Loss) on Derivative Reclassified from Accumulated Other Comprehensive Income [1] 4,163 1,667
Amount Excluded from Effectiveness Testing Recognized in Income (182) 0
Designated as hedging Instrument    
Derivative [Line Items]    
Loss Recognized in Other Comprehensive Income on Effective - Portion of Derivative, net 24,004 (5,480)
Realized Gain (Loss) on Derivative Reclassified from Accumulated Other Comprehensive Income [1] 4,163 1,667
Amount Excluded from Effectiveness Testing Recognized in Income (182) 0
Foreign exchange contracts | Designated as hedging Instrument    
Derivative [Line Items]    
Loss Recognized in Other Comprehensive Income on Effective - Portion of Derivative, net 24,004 (5,480)
Realized Gain (Loss) on Derivative Reclassified from Accumulated Other Comprehensive Income [1] 4,163 1,667
Amount Excluded from Effectiveness Testing Recognized in Income (182) 0
Foreign exchange contracts | Not designated as hedging instrument    
Derivative [Line Items]    
Loss Recognized in Other Comprehensive Income on Effective - Portion of Derivative, net 0 0
Realized Gain (Loss) on Derivative Reclassified from Accumulated Other Comprehensive Income [1] 0 0
Amount Excluded from Effectiveness Testing Recognized in Income $ 0 $ 0
[1] Classified in operating expenses in the Condensed Consolidated Statement of Operations.
v3.25.2
DERIVATIVES AND HEDGING (Details 2) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Derivative [Line Items]    
Derivatives designated as hedging instruments $ 274,259 $ 209,487
Foreign exchange contracts    
Derivative [Line Items]    
Derivatives designated as hedging instruments $ 274,259 $ 209,487
v3.25.2
LEASES (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
 [1]
Leases [Abstract]  
The remainder of 2025 $ 16,047
2026 25,101
2027 21,049
2028 21,119
2029 19,665
Thereafter 37,948
Total undiscounted cash flows 140,929
Less: Imputed interest (14,717)
Present value of lease liabilities $ 126,212
[1] The table above excludes the additional floors associated with the new lease in Israel discussed in Note 10.
v3.25.2
LEASES (Details 1)
Jun. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Weighted-average remaining lease term 5 years 10 months 24 days 5 years 2 months 12 days
Weighted-average discount rate 3.90% 4.20%
v3.25.2
COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Bank guarantee to secure lease agreements $ 12,688 $ 8,264
Total undiscounted cash flows $ 34,950  
Lease term 10 years  
v3.25.2
COMMITMENTS AND CONTINGENCIES (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
The remainder of 2025 $ 18,361
2026 34,762
2027 17,710
2028 0
Total contractual obligations $ 70,833
v3.25.2
FINANCIAL INCOME, NET (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Financial expenses:    
Bank charges and other $ 278 $ 274
Exchange rate expense, net 0 1,309
Total financial expenses 278 1,583
Financial income:    
Exchange rate income, net 556 0
Interest income on deposits, money market funds and marketable securities 30,158 29,272
Accretion of discount on marketable securities 1,313 0
Total financial income 32,027 29,272
Financial income, net $ 31,749 $ 27,689
v3.25.2
SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2024
Stockholders Equity Note [Line Items]          
Share-based compensation cost $ 87,603 $ 63,166      
Options granted [1] 42,897        
Number of ordinary shares reserved and available for grant and issuance 10,871,688       8,941,243
Share-based compensation $ 88,658 $ 63,814      
Shares reserved for issuance under ESPP 1,118,576       1,156,437
Ordinary shares repurchased under ESPP 37,861 39,840      
Ordinary shares at average prices per share $ 226.01 $ 150.1      
Stock based compensation expense $ 3,613 $ 2,320      
Co-CEO          
Stockholders Equity Note [Line Items]          
Options granted 20,217 22,481 74,108 73,074  
2017 share option plan          
Stockholders Equity Note [Line Items]          
Weighted-average grant-date fair value of options granted $ 252.64 $ 217.99      
Intrinsic value of options exercised $ 109,427 $ 136,250      
Unamortized share-based compensation expense $ 241,268 $ 173,557      
Weighted average period for cost expected to be recognized 1 year 10 months 17 days 1 year 10 months 2 days      
2021 plan          
Stockholders Equity Note [Line Items]          
Unrecognized compensation cost related to unvested restricted share units $ 230,702 $ 156,611      
Weighted average period for cost expected to be recognized 1 year 10 months 20 days 1 year 10 months 13 days      
Restricted Stock Units (RSUs)          
Stockholders Equity Note [Line Items]          
Options granted [2] 696,448        
Weighted-average grant-date fair value of options granted [2] $ 269.61        
Restricted Stock Units (RSUs) | Co-CEO          
Stockholders Equity Note [Line Items]          
Options granted 62,211 48,129 22,928    
[1] Includes 73,074 performance options granted to the Company’s Co-CEOs in 2022, 74,108 in 2023, and 22,481 in 2024, as applicable.
[2] Includes 22,928 performance shares granted to the Company’s Co-CEOs in 2023, and 48,129 to the Company’s Co-CEOs and several executives in 2024.
v3.25.2
SHAREHOLDERS' EQUITY (Details) - shares
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Class of Stock [Line Items]    
Shares available for future grants under the 2021 plan 10,871,688 8,941,243
Shares available for future grants under the 2024 Foundation plan 14,410 15,000
Shares subject to the employee share purchase plan 1,118,576 1,156,437
Total 66,589,078 64,050,412
Ordinary shares    
Class of Stock [Line Items]    
Ordinary shares reserved for future issuance 51,551,462 50,773,337
Outstanding share options and RSUs    
Class of Stock [Line Items]    
Ordinary shares reserved for future issuance 3,032,942 3,164,395
v3.25.2
SHAREHOLDERS' EQUITY (Details 1) - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
 [1]
Dec. 31, 2024
 [1]
Number of Options outstanding      
Beginning balance [1] 1,768,230    
Granted [1] 42,897    
Exercised (415,101)    
Expired and forfeited (34,323)    
Ending balance 1,361,703    
Exercisable [1] 1,134,484    
Weighted-Average Exercise Price      
Beginning balance [1] $ 62.9    
Granted [1] 0.87    
Exercised 38.74    
Expired and forfeited 54.03    
Ending balance 68.54    
Exercisable [1] $ 64.2    
Weighted Average Remaining Contractual life, Outstanding 5 years 8 months 4 days 6 years 14 days  
Weighted Average Remaining Contractual life, Exercisable [1] 5 years 4 months 2 days    
Aggregate Intrinsic Value, outstanding $ 334,903   $ 305,379
Aggregate Intrinsic Value, exercisable [1] $ 283,937    
[1] Includes 73,074 performance options granted to the Company’s Co-CEOs in 2022, 74,108 in 2023, and 22,481 in 2024, as applicable.
v3.25.2
SHAREHOLDERS' EQUITY (Details 2)
 6 Months Ended
Jun. 30, 2025
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]  
Granted 42,897 [1]
Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]  
Balance 1,396,165 [2]
Granted 696,448 [2]
Vested (325,163)
Canceled (96,211)
Balance 1,671,239 [2]
Weighted-Average Fair Value  
Balance | $ / shares $ 177.72 [2]
Weighted-average fair value granted | $ / shares 269.61 [2]
Weighted-average fair value vested | $ / shares 175.71
Weighted-average fair value canceled | $ / shares 176.79
Balance | $ / shares $ 216.46 [2]
[1] Includes 73,074 performance options granted to the Company’s Co-CEOs in 2022, 74,108 in 2023, and 22,481 in 2024, as applicable.
[2] Includes 22,928 performance shares granted to the Company’s Co-CEOs in 2023, and 48,129 to the Company’s Co-CEOs and several executives in 2024.
v3.25.2
SHAREHOLDERS' EQUITY (Details 3) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation, net of amounts capitalized $ 87,603 $ 63,166
Capitalized share-based compensation expense 1,055 648
Total share-based compensation 88,658 63,814
Cost of revenues    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation, net of amounts capitalized 3,406 3,116
Research and development    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation, net of amounts capitalized 43,347 23,193
Sales and marketing    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation, net of amounts capitalized 19,205 18,068
General and administrative    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation, net of amounts capitalized $ 21,645 $ 18,789
v3.25.2
SHAREHOLDERS' EQUITY - Summarizes the Black-Scholes assumptions used at the grant date (Details 4)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Expected dividend yield 0.00% 0.00%
Expected volatility   57.81%
Minimum [Member]    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Risk-free interest rate 3.74% 4.03%
Expected term (in years) 2 years 5 years
Expected volatility 57.02%  
Maximum [Member]    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Risk-free interest rate 4.10% 4.77%
Expected term (in years) 7 years 7 years
Expected volatility 59.32%  
v3.25.2
EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Numerator:    
Net income attributable to ordinary shareholders, basic and diluted $ 28,998 $ 21,393
Denominator:    
Weighted-average ordinary shares outstanding, basic 51,196,507 49,442,327
Employee stock options, RSUs and PSUs 1,953,054 2,664,042
Weighted average ordinary shares outstanding, diluted 53,149,561 52,106,369
Net income per share attributable to ordinary shareholders, basic $ 0.57 $ 0.43
Net income per share attributable to ordinary shareholders, diluted $ 0.55 $ 0.41
v3.25.2
EARNINGS PER SHARE - Schedule of Potentially Dilutive Securities (Details 1) - shares
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]    
Anti-dilutive shares excluded from computation of diluted net loss per share attributable to common stockholders 29,176 338,188
Restricted Stock Units (RSUs)    
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]    
Anti-dilutive shares excluded from computation of diluted net loss per share attributable to common stockholders 29,176 90,105
Options [Member]    
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]    
Anti-dilutive shares excluded from computation of diluted net loss per share attributable to common stockholders 0 248,083
v3.25.2
SEGMENT REPORTING (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting [Abstract]    
Total revenues $ 581,264 $ 453,019
Share-based compensation (87,603) (63,166)
Tax benefit (expense) related to share-based compensation (78) 3,525
Other segment items [1] (464,585) (371,985)
Net income $ 28,998 $ 21,393
[1] Other segment expense items included within net income include payroll, financial income, net, advertising and marketing activities, overhead and depreciation, travel and entertainment, income taxes, information technology and communication, sales commissions and other miscellaneous expenses.
v3.25.2
SEGMENT REPORTING (Details 1) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Revenue, Major Customer [Line Items]    
Total revenues $ 581,264 $ 453,019
Segment revenue benchmark | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Total revenues 581,264 453,019
United States | Segment revenue benchmark | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Total revenues 293,324 242,075
EMEA | Segment revenue benchmark | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Total revenues 124,902 98,445
United Kingdom | Segment revenue benchmark | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Total revenues 62,300 46,865
Rest of the world | Segment revenue benchmark | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Total revenues $ 100,738 $ 65,634
v3.25.2
SEGMENT REPORTING (Details 2) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Revenue, Major Customer [Line Items]    
Property and equipment, net $ 47,232 $ 41,576
Property and equipment | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Property and equipment, net 156,845 136,279
Israel | Property and equipment | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Property and equipment, net 94,257 72,613
United States | Property and equipment | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Property and equipment, net 13,467 17,895
United Kingdom | Property and equipment | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Property and equipment, net 46,953 43,030
Rest of the world | Property and equipment | Geographic concentration risk    
Revenue, Major Customer [Line Items]    
Property and equipment, net $ 2,168 $ 2,741