MNDY
Monday.com Ltd.
Is MNDY Halal?
Work-management SaaS with a generally permissible core activity, but current cash and Treasury-bill ratios fail examined total-assets limits.
What You Should Know
Monday.com provides cloud-based work-management and AI platform services. Its December 2025 cash plus Treasury bills are 79.06% of assets and receivables plus cash are 72.79%; gross interest income is not separately disclosed.
⚠️ Concerns
- •Cash plus Treasury-bill investments exceed examined liquidity limits
- •Receivables plus cash exceed examined total-assets limits
- •Customer-industry and workflow revenue is not disclosed
- •Net financial income combines interest, investment, foreign-exchange and bank-charge items
Current quantitative Sharia screen
Based on 20-F figures for the period ended 2025-12-31; calculated 2026-07-13.
0 / 2,106.6
1,665.457 / 2,106.6
1,533.701 / 2,106.6
- Financial
- Fails
- Overall
- Fails
Debt is 0.00%, but cash plus Treasury-bill investments are 79.06% of total assets, above the examined 33.333% liquidity limit. Receivables plus cash are 72.79%; gross interest income is not separately disclosed.
- Financial
- Fails
- Overall
- Fails
Cash plus Treasury-bill investments are 79.06% and receivables plus cash are 72.79% of total assets, both above the examined 33.33% total-assets limits.
- Financial
- Fails
- Overall
- Fails
Identifiable conventional liquidity is 79.06% of total assets, above the examined 33% limit. Debt is 0.00%; this is a calculation against SAC ratios, not an official SAC classification of a Nasdaq-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored.
Business-activity disclosure
monday.com provides cloud-based work-management and AI platform services through subscription contracts. Project planning, workflow and collaboration software are generally permissible business activities, while customer-industry and use-context questions remain qualitative.
Limitation: The 20-F reports one operating segment and consolidated service revenue but does not allocate revenue by customer industry, workflow, advertising context or other category that would produce a reproducible prohibited-revenue numerator.
Purification
Net financial income is 61.065, but the filing combines interest, investment amortization, foreign-exchange items and bank charges; gross interest income and a product-level prohibited-revenue numerator are unavailable, so this record does not prescribe a fixed purification amount.
Inputs, assumptions and primary sources
- The 20-F reports no interest-bearing debt on the balance sheet. Operating lease liabilities and deferred revenue are not treated as interest-bearing debt in this input.
- Cash and cash equivalents use 1,503.149. Interest-bearing securities use 162.308 of marketable securities, which the filing identifies as U.S. Treasury bills.
- Receivables use the reported net accounts-receivable balance of 30.552; the filing states that accounts receivable are unsecured and non-interest-bearing.
- Annual revenue uses 1,231.997 for the year ended December 31, 2025. The company describes subscription access to its cloud platform as its revenue model.
- The filing reports financial income, net of 61.065, consisting primarily of interest from money-market funds, bank deposits and marketable securities plus amortization, bank charges and foreign-exchange items. Gross interest income is not separately disclosed, so no gross non-compliant-income numerator is inferred.
- The filing does not provide a reproducible prohibited-revenue numerator by customer industry, workflow, product module or end use.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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