Business
Freshworks Reports Second Quarter 2024 Results
SAN MATEO, Calif., July 30, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH), a leading software company empowering businesses to delight their
About this update from Freshworks Inc.
[{"type":"text","content":"SAN MATEO, Calif., July 30, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH), a leading software company empowering businesses to delight their customers and employees, today announced financial results for its second quarter ended June 30, 2024. “Freshworks delivered a solid Q2, growing revenue to $174.1 million with a free cash flow margin of 19%,” said Dennis Woodside, CEO & President of Freshworks. “Our results reflect our increasing financial discipline and our ability to meet the needs of customers with our AI-powered solutions. With clear strategic priorities in place, we are well positioned to seize the massive opportunity in front of us.” Second Quarter 2024 Financial Summary Results Revenue: Total revenue was $174.1 million, representing growth of 20% compared to the second quarter of 2023, and 20% adjusting for constant currency.GAAP (Loss) from Operations: GAAP (loss) from operations was $(43.8) million, compared to $(43.3) million in the second quarter of 2023.Non-GAAP Income from Operations: Non-GAAP income from operations was $13.1 million, compared to $11.7 million in the second quarter of 2023.GAAP Net (Loss) Per Share: GAAP basic and diluted net (loss) per share was $(0.07) based on 299.8 million weighted-average shares outstanding, compared to $(0.12) based on 292.0 million weighted-average shares outstanding in the second quarter of 2023.Non-GAAP Net Income Per Share: Non-GAAP diluted net income per share was $0.08 based on 302.5 million weighted-average shares outstanding, compared to $0.07 based on 296.6 million weighted-average shares outstanding in the second quarter of 2023.Net Cash Provided by Operating Activities: Net cash provided by operating activities was $36.3 million, compared to $19.9 million in the second quarter of 2023.Free Cash Flow: Free cash flow was $32.8 million, compared to $18.1 million in the second quarter of 2023.Cash, Cash Equivalents and Marketable Securities: Cash, cash equivalents, and marketable securities were $1.02 billion as of June 30, 2024. All financial numbers for second quarter 2024 include the results of Device42, Inc. for the period after the closing of the acquisition. A description of non-GAAP financial measures is contained in the section titled “Explanation of Non-GAAP Financial Measures” below and a reconciliation of GAAP to non-GAAP financial measures is ...