US3580541049 - Common Stock
FRESHWORKS INC-CL A
NASDAQ:FRSH (11/12/2024, 2:27:45 PM)
16.49
-0.02 (-0.12%)
Freshworks, Inc. is a software development company, which engages in software-as-a-service products. The company is headquartered in San Mateo, California and currently employs 4,900 full-time employees. The company went IPO on 2021-09-22. The firm provides software-as-a-service (SaaS) products that deliver artificial intelligence (AI)-guided customer and employee service solutions. The company has a unified Customer Relationship Management (CRM) platform that encompasses support, sales, and marketing. Its customer service (CS) includes Freshworks Customer Service Suite, Freshdesk, Freshcaller, and Freshsuccess. Its messaging/chat product offerings include Freshchat. Its sales and marketing product offerings include Freshsales, Freshmarketer, and Freshsales Suite. Its information technology (IT) and employee service management (ITSM) product offerings include Freshservice and Freshservice for Business Teams. The Company’s Neo platform is the AI-powered, enterprise-grade foundation for all Freshworks products, which include an AI engine, a Developer platform, the Freshworks Marketplace, analytics service and unified customer experience services.
FRESHWORKS INC-CL A
2950 S. Delaware St., Suite 201
San Mateo CALIFORNIA 98662
P: 16505130514
CEO: Rathna Girish Mathrubootham
Employees: 4900
Website: https://www.freshworks.com/
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The software company posted better-than-feared earnings, and the stock soared.
Shares of business software provider Freshworks (NASDAQ: FRSH) jumped 27.9% in the morning session after the company reported strong third-quarter earnings and provided an optimistic full-year EPS forecast, which blew past analysts' expectations. Revenue and EPS also outperformed Wall Street's estimates. Freshworks is doubling down on investments in top performing solutions such as its Employee Experience solutions which grew 40% year on year. On the side, it is also investing in new AI-driven capabilities such as Freddy Copilot and Freddy's self-service offerings. To achieve a healthy balance of growth and profitability, Freshworks announced a 13% workforce reduction, which will also help reallocate resources into its new growth projects. Overall, this was a good quarter.
FRSH earnings call for the period ending September 30, 2024.
Business software provider Freshworks (NASDAQ: FRSH) reported Q3 CY2024 results exceeding the market’s revenue expectations, with sales up 21.5% year on year to $186.6 million. The company expects next quarter’s revenue to be around $189.3 million, close to analysts’ estimates. Its non-GAAP profit of $0.11 per share was also 41.5% above analysts’ consensus estimates.
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