Business
Freshworks Reports Third Quarter 2021 Results
Total revenue grew 46% year-over-yearNet dollar retention rate of 117%, up 8 percentage points year-over-yearAnnounced annual user conference Refresh SAN
About this update from Freshworks Inc.
[{"type":"text","content":"Total revenue grew 46% year-over-yearNet dollar retention rate of 117%, up 8 percentage points year-over-yearAnnounced annual user conference Refresh SAN MATEO, Calif., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH), a leading software company empowering businesses to delight their customers and employees, today announced financial results for its third quarter ended September 30, 2021. “Our strong third quarter results reflect the continued adoption of our modern and easy-to-use products by companies of all sizes,” said Girish Mathrubootham, CEO and founder of Freshworks. “We grew 46% year over year, and saw healthy expansion activity from our customer base.” Third Quarter 2021 Financial Summary Results Revenue: Total revenue was $96.6 million, representing growth of 46% compared to the third quarter of 2020.GAAP (Loss) Income from Operations: GAAP (loss) from operations was $(140.3) million, compared to GAAP income from operations of $0.1 million in the third quarter of 2020.Non-GAAP (Loss) Income from Operations: Non-GAAP (loss) from operations was $(1.5) million, compared to non-GAAP income from operations of $1.2 million in the third quarter of 2020.GAAP Net (Loss) Per Share: GAAP net (loss) per share was $(24.72) based on 95.9 million weighted-average shares outstanding, compared to $(3.49) based on 76.9 million weighted-average shares outstanding in the third quarter of 2020.Non-GAAP Net (Loss) Income Per Share: Non-GAAP basic and diluted net (loss) per share was $(0.04) based on 95.9 million weighted-average shares outstanding; compared to a non-GAAP basic and diluted net income per share of $0.03 and $0.01, respectively, based on 76.9 million and 233.6 million weighted-average shares outstanding, respectively, in the third quarter of 2020.Net Cash (Used in) Provided by Operating Activities: Net cash (used in) operating activities was $(2.0) million, compared to net cash provided by operating activities of $12.8 million in the third quarter of 2020.Free Cash Flow: Free cash flow was $(4.2) million, compared to $10.3 million in the third quarter of 2020.Cash, Cash Equivalents and Restricted Cash and Marketable Securities: Cash, cash equivalents, and restricted cash and marketable securities were $1.3 billion as of September 30, 2021. A description of non-GAAP financial measures is contained in the sectio...