Business
Freshworks Reports Fourth Quarter and Full Year 2022 Results
Full year revenue grew 34% year-over-year, 37% adjusting for constant currencyFourth quarter revenue grew 26% year-over-year, 30% adjusting for constant
About this update from Freshworks Inc.
[{"type":"text","content":"Full year revenue grew 34% year-over-year, 37% adjusting for constant currencyFourth quarter revenue grew 26% year-over-year, 30% adjusting for constant currencySurpassed $500 million in annual recurring revenueImproved business efficiency with $7.2 million in net cash from operating activities and $4 million of free cash flow in the quarter SAN MATEO, Calif., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH), a leading software company empowering businesses to delight their customers and employees, today announced financial results for its fourth quarter and full year ended December 31, 2022. “Freshworks capped off a strong finish to the year with revenue growing 30% on a constant currency basis in Q4,” said Girish Mathrubootham, CEO and Founder of Freshworks. “Despite macroeconomic uncertainty throughout the year, I am pleased with our focus on product innovation, expansion and new business which drove revenue growth and improved cash flow. We will continue this focus into 2023.” Fourth Quarter 2022 Financial Summary Results Revenue: Total revenue was $133.2 million, representing growth of 26% compared to the fourth quarter of 2021 and 30% adjusting for constant currency. GAAP (Loss) from Operations: GAAP (loss) from operations was $(60.6) million, compared to $(56.4) million in the fourth quarter of 2021. Non-GAAP (Loss) from Operations: Non-GAAP (loss) from operations was $(2.8) million, compared to $(10.7) million in the fourth quarter of 2021. GAAP Net (Loss) Per Share: GAAP basic and diluted net (loss) per share was $(0.19) based on 288.5 million weighted-average shares outstanding, compared to $(0.28) based on 269.5 million weighted-average shares outstanding in the fourth quarter of 2021. Non-GAAP Net Income (Loss) Per Share: Non-GAAP basic and diluted net income (loss) per share was $0.01 based on 292.2 million weighted-average shares outstanding, compared to $(0.06) based on 269.5 million weighted-average shares outstanding in the fourth quarter of 2021. Net Cash Provided by Operating Activities: Net cash provided by operating activities was $7.2 million, compared to $4.8 million in the fourth quarter of 2021. Free Cash Flow: Free cash flow was $4.0 million, compared to $2.8 million in the fourth quarter of 2021. Cash, Cash Equivalents and Marketable Securities: Cash, cash equivalents, and marketable se...