onlycfo.io · 2025-06-04 · 365d

What it Takes to IPO in 2025

Eliran Glazer, CFO of monday.com, shares lessons from taking the company public in 2021 and provides guidance for CFOs preparing for IPO in 2025's more demanding environment. Key themes include the importance of storytelling and narrative credibility, acting as a strategic business partner rather than a budget gatekeeper, and building data-driven performance and scenario planning capabilities. The article emphasizes that public market expectations have shifted from growth-at-all-costs to operational excellence, efficient capital allocation, and sustainable margins.

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Metrics in this report

Free Cash Flow Margin

39percent

monday.com Q1'25 performance

Minimum ARR for $5B Valuation

500000000dollars

minimum

2025 IPO market expectations

Post-IPO Underperformance Rate

70percent

Tech companies that underperform relative to IPO valuation

Revenue Growth Rate

30percent

monday.com Q1'25 performance

Rule of 40 Score

69percent

top-quartile

monday.com Q1'25; high-performing SaaS companies