champpixs/iStock via Getty Images Investment Thesis Freshworks (NASDAQ:FRSH) is a relatively new entrant in the Customer Relationship Management (CRM) industry. The company was listed in the markets in 2021, but like most of the younger companies on the market, it received a rude awakening in 2022 as the markets re-rated the equity risk premiums and cash flows needed to be prioritized. Last year, the company unveiled its multi-year operating plan in its Investor Day presentation, showcasing its product ...

SAN MATEO, Calif., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ:FRSH) will announce its financial results for the fourth quarter and full year ended December 31, 2023 following the close of market on Tuesday, February 6, 2024. Freshworks will host a live audio webcast beginning at 2:00 p.m Pacific Time / 5:00 p.m. Eastern Time that same day to discuss the company's financial results and business highlights. Event: Freshworks Fourth Quarter and Full Year 2023 Financial Results Date: Tuesday, Feb ...

Freshworks (FRSH) recently announced an integration with Zuper, which will help it enhance customer relationships and experiences for businesses with field service teams. Zuper’s direct integration with Freshdesk will smoothen up seamless data flow and sharing without the need to switch platforms.The Freshworks-Zuper integration is now available on the Freshworks Marketplace, which is powered by the Freshworks Neo platform. The platform allows developers to easily build and publish apps that integrate with ...

Freshworks (FRSH) shares have jumped 30.4% in the past six months, outperforming the Zacks Computer & Technology sector’s return of 7.9%. It has been benefiting from a strong portfolio that helped in attracting new clients.In third-quarter 2023, Freshworks reported revenues of $153.6 million, up 19% year over year. The number of customers contributing more than $5,000 in annual recurring revenues was 19,551, up 17% year over year.Freshworks has expanded its portfolio with the launch of an AI-powered Custome ...

Freshworks' (FRSH) trajectory has changed course drastically since it brought in a new president 15 months ago. The software maker overhauled its go-to-market strategy in an effort to nail bigger deals in a new market, and FRSH stock is up 66% this year as a result.X Started in India in 2010, Freshworks launched its initial public offering in September 2021. The IPO raised more than $1 billion, buoying India's high-tech industry. Shares traded up the first day but soon nose-dived before touching bottom in J ...

Freshsales 協助該公司與業務合作夥伴更有效互動，提高銷售轉換率達 24%，而 Freshdesk 更將客戶參與度提高至 58%香港, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH)，今日宣布其領先的即時送貨平台客戶 Lalamove 採用 Freshdesk™ 和 Freshsales™，為數千名消費者與業務合作夥伴帶來個人化體驗。Lalamove 透過清晰盡覽及掌控其銷售漏斗和銷售生命週期管理狀況，有效提高銷售轉換率，同時提高客戶參與度。 Lalamove 利用其手機和網頁應用程式，讓各行各業的商業客戶與司機合作夥伴緊密連繫，提供即時及即日送貨服務。詃公司於 2013 年在香港成立，業務遍及亞洲與拉丁美洲地區的 11 個市場，透過提供快捷簡易、經濟實惠的送貨服務，為社區賦能。該公司的最終目標，是協助小型企業東主發展業務，並確保帶來具彈性的盈利機會，以支援司機合作夥伴的生計。 以 Freshdesk 配合 Freshsales 使用，Lalamove 得以涵蓋由潛在客戶到續期的整段客戶生命週期，讓所有這些業務合作夥伴自 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) San Mateo, CA 94403 (I.R.S. Employer Identification No.) (Address of principal executive offices, including zip code) For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...

Freshworks Inc. (NASDAQ:FRSH) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET Corporate Participants Joon Huh - Vice President of Investor Relations Girish Mathrubootham - Chief Executive Officer Dennis Woodside - President Tyler Sloat - Chief Financial Officer Conference Call Participants Brent Bracelin - Piper Sandler Ryan MacWilliams - Barclays Pinjalim Bora - JPMorgan Brian Peterson - Raymond James Patrick Walravens - JMP Securities DJ Hynes - Canaccord Genuity Elizabeth Porter - Morgan Stanl ...

Part I. [FINANCIAL INFORMATION](index=6&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements (unaudited)](index=6&type=section&id=ITEM%201.%20Financial%20Statements%20(unaudited)) The unaudited financial statements for Q2 and H1 2023 reflect revenue growth, a reduced net loss, and a positive operating cash flow, with total assets reaching $1.40 billion [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2023, total assets were $1.40 billion, a slight increase from $1.38 billion at December 31, 2022, driven by higher cash and cash equivalents and deferred revenue Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $356,220 | $304,083 | | Marketable securities | $804,646 | $843,405 | | Total current assets | $1,303,296 | $1,277,010 | | **Total assets** | **$1,400,307** | **$1,380,216** | | **Liabilities & Equity** | | | | Deferred revenue | $234,358 | $205,626 | | Total current liabilities | $291,556 | $271,692 | | **Total liabilities** | **$342,654** | **$328,398** | | **Total stockholders' equity** | **$1,057,653** | **$1,051,818** | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q2 2023, revenue grew 19% year-over-year to $145.1 million, and net loss narrowed significantly to $35.7 million, with similar improvements for the six-month period Statement of Operations Highlights (in thousands, except per share data) | Metric | Q2 2023 | Q2 2022 | Six Months 2023 | Six Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $145,079 | $121,432 | $282,771 | $236,069 | | Gross Profit | $120,218 | $97,390 | $232,674 | $189,632 | | Loss from operations | $(43,289) | $(67,352) | $(91,396) | $(114,476) | | Net loss | $(35,658) | $(69,753) | $(78,322) | $(118,812) | | Net loss per share | $(0.12) | $(0.24) | $(0.27) | $(0.42) | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2023, the company generated $31.4 million in cash from operating activities, a significant turnaround from the prior year's cash usage Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $31,399 | $(5,469) | | Net cash provided by (used in) investing activities | $44,136 | $(20,864) | | Net cash used in financing activities | $(23,380) | $(131,351) | | **Net increase (decrease) in cash** | **$52,155** | **$(157,684)** | [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies and provide breakdowns of financial statement items, including revenue by service and geography, stock-based compensation, and contractual commitments Revenue by Service Offering (in thousands) | Service Offering | Q2 2023 | Q2 2022 | Six Months 2023 | Six Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Subscription services | $141,699 | $118,393 | $275,722 | $229,790 | | Professional services | $3,380 | $3,039 | $7,049 | $6,279 | | **Total revenue** | **$145,079** | **$121,432** | **$282,771** | **$236,069** | - As of June 30, 2023, the company had **$350.8 million** in remaining performance obligations, of which **$267.8 million** is expected to be recognized as revenue in the next 12 months[54](index=54&type=chunk) Revenue by Geographic Location (in thousands) | Region | Q2 2023 | Q2 2022 | Six Months 2023 | Six Months 2022 | | :--- | :--- | :--- | :--- | :--- | | North America | $64,244 | $52,117 | $125,311 | $100,890 | | Europe, Middle East and Africa | $56,338 | $47,878 | $109,204 | $93,383 | | Asia Pacific | $20,361 | $18,240 | $40,386 | $35,719 | | Other | $4,136 | $3,197 | $7,870 | $6,077 | | **Total revenue** | **$145,079** | **$121,432** | **$282,771** | **$236,069** | - As of June 30, 2023, total unrecognized stock-based compensation expense was **$533.8 million**, expected to be recognized over a weighted-average period of approximately **2.9 years** for RSUs/PRSUs and **3.2 years** for stock options[97](index=97&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 2023 revenue growth driven by customer expansion, a net dollar retention rate of 108%, improved non-GAAP operating income, and positive free cash flow, affirming sufficient liquidity [Overview and Macroeconomic Factors](index=28&type=section&id=Overview%20and%20Macroeconomic%20Factors) Freshworks provides modern SaaS products for customer and employee engagement, with Q2 2023 revenue growing 19% year-over-year despite macroeconomic uncertainties and foreign currency risks - The company's mission is to make it fast and easy for businesses to delight their customers and employees through modern SaaS products[106](index=106&type=chunk) - Macroeconomic uncertainties, including inflation and geopolitical developments, could adversely affect demand for the company's products and services[109](index=109&type=chunk) - Approximately **27%** of revenue in Q2 2023 was exposed to the Euro and British Pound, highlighting foreign currency risk[109](index=109&type=chunk) [Key Business Metrics](index=29&type=section&id=Key%20Business%20Metrics) As of June 30, 2023, customers with over $5,000 in ARR grew 18% year-over-year to 19,105, accounting for 88% of total ARR, though the net dollar retention rate decreased to 108% due to macroeconomic pressures Key Business Metrics Comparison | Metric | June 30, 2023 | June 30, 2022 | % Growth | | :--- | :--- | :--- | :--- | | Customers > $5,000 in ARR | 19,105 | 16,212 | 18% | | ARR from Customers > $5,000 in ARR | 88% | 86% | N/A | | Net dollar retention rate | 108% | 111% | N/A | - The decrease in net dollar retention rate from **111%** to **108%** was primarily due to lower expansion within existing customers, attributed to macroeconomic pressures[116](index=116&type=chunk) [Non-GAAP Financial Measures](index=30&type=section&id=Non-GAAP%20Financial%20Measures) Freshworks uses non-GAAP measures, reporting Q2 2023 non-GAAP income from operations of $11.7 million and free cash flow of $18.1 million, indicating improved profitability Reconciliation of GAAP Loss from Operations to Non-GAAP Income (Loss) from Operations (in thousands) | Description | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Loss from operations (GAAP) | $(43,289) | $(67,352) | | Stock-based compensation expense | $54,248 | $50,135 | | Other adjustments | $763 | $1,422 | | **Non-GAAP income (loss) from operations** | **$11,722** | **$(15,795)** | Reconciliation to Free Cash Flow (in thousands) | Description | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $19,895 | $(6,824) | | Less: Purchases of property and equipment | $(329) | $(1,984) | | Less: Capitalized internal-use software | $(1,486) | $(1,378) | | **Free cash flow** | **$18,080** | **$(10,186)** | [Results of Operations](index=34&type=section&id=Results%20of%20Operations) Q2 2023 revenue increased 19% year-over-year to $145.1 million, driven by customer growth and improved gross margin, leading to a reduced operating loss despite higher personnel costs - Q2 2023 revenue increased by **$23.6 million (19%)** YoY, with **$16.3 million** from new customers and **$7.3 million** from existing customers[145](index=145&type=chunk) - Q2 2023 sales and marketing expense decreased by **$2.1 million (2%)** YoY, primarily due to a **$5.2 million** reduction in advertising, marketing, and branding expenses[150](index=150&type=chunk) - Interest income for Q2 2023 surged **434%** YoY to **$11.3 million**, driven by higher interest rates on the company's marketable securities portfolio[152](index=152&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2023, Freshworks maintained a strong liquidity position with $356.2 million in cash and $804.6 million in marketable securities, generating positive operating cash flow and affirming sufficient funds for the next 12 months - The company has a strong liquidity position with **$356.2 million** in cash and cash equivalents and **$804.6 million** in marketable securities as of June 30, 2023[165](index=165&type=chunk) - The company believes its existing cash, cash equivalents, and marketable securities will be sufficient to meet its needs for at least the next **12 months**[168](index=168&type=chunk) - As of June 30, 2023, remaining performance obligations totaled **$350.8 million**, consisting of **$234.4 million** in deferred revenue and **$116.4 million** in unbilled revenue[177](index=177&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=42&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risks are foreign currency fluctuations and interest rate risk, which are mitigated by hedging strategies and are not expected to materially affect financial statements - The company is primarily exposed to market risks from fluctuations in foreign currency exchange rates (especially **INR, GBP, EUR**) and interest rates[185](index=185&type=chunk)[186](index=186&type=chunk) - To reduce foreign currency risk, the company entered into foreign exchange forward contracts to hedge a portion of its forecasted expenses in Indian Rupee, with a total notional amount of **$43.6 million** as of June 30, 2023[187](index=187&type=chunk) - A sensitivity analysis indicates that a hypothetical **10%** adverse change in foreign currency rates or a **100 basis point** change in interest rates would not materially affect the company's financial statements[189](index=189&type=chunk)[191](index=191&type=chunk) [Controls and Procedures](index=43&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2023, with no material changes to internal control over financial reporting during the quarter - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were effective as of the end of the period[192](index=192&type=chunk) - No changes were identified in the company's internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[193](index=193&type=chunk) Part II. [OTHER INFORMATION](index=44&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=44&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is facing two significant legal actions: a securities class action complaint alleging material misstatements in IPO documents and a related stockholder derivative complaint - A securities class action complaint was filed against the company, certain officers, directors, and IPO underwriters, alleging violations of the Securities Act of 1933. A motion to dismiss is pending[197](index=197&type=chunk) - A stockholder derivative complaint was filed against the company's current directors, which has been stayed pending the outcome of the securities class action[198](index=198&type=chunk) [Risk Factors](index=44&type=section&id=ITEM%201A.%20Risk%20Factors) There have been no material changes from the risk factors previously disclosed in the company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2023 - The company states there have been no material changes from the risks and uncertainties previously disclosed in its Q1 2023 Form 10-Q[200](index=200&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities and no use of proceeds from such sales during the period - There were no unregistered sales of equity securities during the reporting period[201](index=201&type=chunk)[202](index=202&type=chunk) [Other Information](index=45&type=section&id=ITEM%205.%20Other%20Information) During the second quarter of 2023, several Section 16 officers and directors adopted Rule 10b5-1 trading plans for the potential sale of company securities Adoption of Rule 10b5-1 Trading Plans | Name | Title | Adoption Date | Total Securities to be Sold (shares) | | :--- | :--- | :--- | :--- | | Rathna Girish Mathrubootham | Chief Executive Officer and Chairman | June 14, 2023 | Up to 1,900,000 | | Srinivasagopalan Ramamurthy | Chief Product Officer | June 16, 2023 | Up to 400,000 | | Johanna Flower | Director | June 14, 2023 | Up to 55,400 | | Jennifer Taylor | Director | May 9, 2023 | Up to 95,242 | [Exhibits](index=46&type=section&id=ITEM%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including certifications by the CEO and CFO, and XBRL data files - The report includes required certifications from the CEO and CFO pursuant to the Sarbanes-Oxley Act of 2002, as well as XBRL interactive data files[210](index=210&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 ended March 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. (Exact name of registrant as specified in its charter) Delaware 2950 S Delaware Street, ...