Better-than-expected results from Monday.com (NASDAQ:MNDY) for the fourth quarter helped to boost the stock price on Monday morning.

MNDY reported earnings per share of $0.44 on revenue of $149.9 million, easily beating the market average for a loss per share of $0.38 on revenue of $141.2M. The revenue grew 57% from the previous year.

Roy Mann, co-CEO of Monday.com, remarked, “Q4 capped off a great year, exceeding our goals on both the top and bottom lines.” We ended FY’22 with solid revenue growth, increasing productivity, and positive free cash flow for the second year. We think we are prepared for the future despite macro uncertainties.

For this quarter, monday.com forecasts an adjusted operating loss of $18M (up or down $1M) on revenue of $155M (up or down $1M), better than the analyst consensus of $149M. For 2023, the company sees revenue in the range of $688M-$693M, again easily ahead of the consensus of $661.7M. Monday.com expects to post an adjusted operating loss of $34M (up or down $2M).

The company reiterated that it expects to be free cash flow positive in FY23.

Monday.com shares are up over 12% in premarket Monday.