Freshworks, the publicly listed SaaS firm, is acquiring U.S.-based startup Device42 for $230 million, the company disclosed in an SEC filing. Alongside the acquisition disclosure, Freshworks revealed that founder Girish Mathrubootham has stepped down as CEO. Dennis Woodside, who joined Freshworks as president in September 2022 and previously served as CEO of Motorola Mobility, will take over as the new CEO. Mathrubootham is becoming executive chairman.Device42 helps companies manage their IT infrastructure ...

Freshworks Inc. (FRSH) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.08, delivering a surprise of 60%.Over the last four quarters, the company has su ...

Notes: Revenue growth rates adjusted for constant currency are based on average exchange rates in effect during the comparison period for currencies other than USD. 2024 financial data reflects unaudited results as of March 31, 2024. See Appendix for reconciliation of all GAAP to Non-GAAP financial measures. Numbers rounded for presentation purposes and may not foot. freshworks May 1, 2024 Disclaimer Factors that may cause actual results to differ materially include our ability to achieve our long-term plan ...

Freshworks Reports First Quarter 2024 Results "Freshworks delivered 20% revenue growth with improving profitability and a strong free cash flow margin in Q1," said Girish Mathrubootham, CEO and Founder of Freshworks. "I'm particularly proud of the progress we've made in AI innovation across our products, and its tangible impact on our customers. We remain more focused than ever on product innovation, bringing more large customers onto our platform, and expanding adoption of products across our portfolio." F ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 001-40806 Freshworks Inc. (Exact name of registrant as specified in its charter) Delaware 2950 S Delaware Street, Suite 201 33-1218825 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ...

Freshworks customers can access Playvox's suite of AI-powered workforce engagement solutions to forecast workloads and better manage their workforceSUNNYVALE, Calif., April 23, 2024 /PRNewswire/ -- Playvox, the leading provider of Workforce Engagement Management (WEM) solutions for digital-first contact and support centers, officially announced its new Workforce Management Software (WFM) integration to Freshworks Customer Service Applications via an app on the Freshworks Marketplace. The AI-powered app will ...

BERLIN, March 20, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ:FRSH) announces that Porsche eBike Performance, a Porsche subsidiary dedicated to developing pioneering electric drive systems for e-bikes, has streamlined its IT operations with Freshworks' AI powered business software, Freshservice™ and Freddy Copilot capabilities to further improve agent productivity. Launched in 2022, Porsche eBike Performance aims to make a significant impact in the e-bike sector with its innovative solutions. The compa ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K __________________________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40806 __________________________________________ Freshworks Inc. _______ ...

SAN MATEO, Calif., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc., (NASDAQ:FRSH) today announced the appointment of Abe Smith as the company's Chief of Global Field Operations. He will be responsible for leading field sales worldwide as Freshworks grows upmarket and new business increasingly comes from field sales. Smith brings nearly 25 years of experience at public software companies Zoom, Oracle and Cisco (WebEx), leading teams responsible for building relationships to top enterprise customers and dri ...

Financial Data and Key Metrics Changes - For the full year 2023, the company reported revenue of $596.4 million and a free cash flow margin of 13% [2] - In Q4, revenue grew 20% year-over-year to $160.1 million, with calculated billings increasing 22% year-over-year to $180.4 million [43][47] - The non-GAAP gross margin remained flat at 84% for Q4 and the full year, representing a 150 basis point improvement from the prior year [44] Business Line Data and Key Metrics Changes - IT Service Management (ITSM) continued to drive the majority of growth in Q4, with significant expansion in the Customer Service Suite (CSS) [43][120] - The number of customers contributing more than $5,000 in Annual Recurring Revenue (ARR) grew 14% year-over-year to 20,261 customers, representing 89% of ARR [46] - The multiproduct adoption rate increased to 26% of the customer base, with notable growth in Freshservice for business teams [37] Market Data and Key Metrics Changes - The company added 229 customers contributing more than $50,000 in ARR in Q4, marking the highest quarterly additions for this cohort [30] - The enterprise and mid-market segments showed solid traction, while the SMB segment faced challenges due to macroeconomic pressures [152] Company Strategy and Development Direction - The company focuses on product innovation, winning in enterprise markets, and improving operating efficiency [13] - The Neo Platform is a critical component of the company's strategy, enabling rapid deployment of new technologies like AI [51] - The company plans to enhance its sales and marketing products to drive inbound demand and cross-sell opportunities [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth and innovation despite macroeconomic uncertainties [5] - The company anticipates calculated billings growth of 16% for Q1 2024 and revenue growth of 18% to 19% for the full year [63][66] - Management highlighted the importance of automation and AI in driving customer service efficiency and improving customer experiences [107] Other Important Information - The company generated $28.6 million in free cash flow in Q4 and $78 million for the full year, significantly exceeding initial estimates [73] - The company plans to continue net settling invested equity amounts, expecting to use approximately $80 million for the full year [74] Q&A Session Summary Question: What contributed to the record number of net customer adds? - The record 50,000 net adds were primarily driven by ITSM, with promising results from the new Customer Service Suite [118] Question: How is the macro environment affecting business? - The enterprise and mid-market segments are performing well, while SMB faces more challenges due to economic pressures [152] Question: What are the expectations for net dollar retention? - The company expects net dollar retention to stabilize at 106% for Q1, with potential for improvement as churn decreases [167] Question: How is AI impacting the business model? - AI capabilities are expected to enhance automation and customer service efficiency, with a focus on adoption before monetization [101][107] Question: What are the plans for future investments? - The company will continue to invest in R&D and sales to drive growth while maintaining a focus on operational efficiency [115]