Freshworks Inc. · NASDAQ:FRSH

Freshworks — Investor Day (September 2025)

130 slides from Freshworks's investor day presentation, Sep 11, 2025

Slide 2: Brand Video
[Brand Video]
Slide 4: Disclaimer
Disclaimer This presentation has been prepared by Freshworks Inc. These forward-looking statements are subject to a number of our sales cycles or adversely affect our industry; our history of net (“Freshworks”) for informational purposes only and not for any risks, uncertainties and assumptions incl
Slide 5: Use of Non-GAAP Measures
Use of Non-GAAP Measures In addition to the U.S. generally accepted accounting principles (“GAAP”) financials, this presentation includes certain non-GAAP financial measures, including non-GAAP income (loss) from operations, non-GAAP gross profit, non-GAAP cost of revenue, non-GAAP operating expense
Slide 6: Agenda
Agenda Investor Day T I M E S E S S I O N S P E A K E R S 2025 8:30 am Welcome Brian Lan Durable Growth Fueled by AI and Dennis Woodside Uncomplicated Solutions 20 min Product Innovation and Strategy with Demos 45 min Dennis Woodside and Srini Raghavan Break 10 min 9:50 am Ian Tickle Go-to-Market St
Slide 7: Durable Growth Fueled by AI and Uncomplicated Solutions
Durable Growth Fueled by AI and Uncomplicated Solutions Dennis Woodside Chief Executive Officer and President © 2025 Freshworks Inc. All rights reserved.
Slide 8: Our vision
Our vision Freshworks will be the uncomplicated, AI-native service platform of choice for organizations who seek powerful yet easy to use software to deliver exceptional customer and employee experiences © 2025 Freshworks Inc. All rights reserved.
Slide 9: Amazing brands around the world trust Freshworks
Amazing brands around the world trust Freshworks 74,000+ paying customers in over 120 countries Retail, logistics, Financial Auto and Media and Hospitality and State, local High-tech and ecommerce services manufacturing entertainment transportation and education © © 2 20 02 25 5 F Fr re es sh hwo wo
Slide 10: The EX and CX portfolio powered by AI
The EX and CX portfolio powered by AI Employee Experience (EX) Customer Experience (CX) Freshservice Freshservice Device42 Freshdesk Omni Freshdesk Freshchat Freshcaller for Business Teams Freddy Agentic AI Freddy AI Agent Freddy AI Copilot Freddy AI Insights © 2025 Freshworks Inc. All rights reserv
Slide 11: From plan to proof: since our last Investor Day
From plan to proof: since our last Investor Day >$840M ARR Scaled Business Growing 20% (2YR CAGR) Rule of 40+ Durable & Profitable Growth Q2-25 - 18% YoY Revenue Growth + 27% adj. FCF margin >$20M ARR AI Monetization >2x YoY >60% ARR Upmarket Expansion Mid-market & Enterprise Customers Acquired Devi
Slide 12: Upmarket demand has changed our business
Upmarket demand has changed our business Employee Experience (EX) Customer Experience (CX) 20% 47% 80% SMB SMB 53% Mid-market Mid-market and Enterprise and Enterprise Represents ARR distribution of the following segments Note: All data as of June 30, 2025. © 2025 Freshworks Inc. All rights reserved.
Slide 13: Why we win against our largest competitors
Why we win against our largest competitors Unified Uncomplicated Time Total Cost of Experience Solutions to Value Ownership AI | Rapid Innovation | Enterprise Scale & Extensibility © 2025 Freshworks Inc. All rights reserved.
Slide 14: Why customers win with Freshworks
Why customers win with Freshworks Uncomplicated Time Total Cost Unified Solutions to Value of Ownership Experience “Everyone uses Freshservice. “It’s easy to set up “Our implementation journey “...it’s saved us a significant It has been instrumental in automations in Freshdesk— was seamless, and eve
Slide 16: The team driving our next chapter of growth
The team driving our next chapter of growth Dennis Woodside Mika Yamamoto Tyler Sloat Ian Tickle Chief Executive Officer Chief Customer & Marketing Officer Chief Operating & Financial Officer Chief of Global Field Operations Kaitlyn Bate Johanna Jackman Pam Sergeeff Murali Swaminathan Srinivasan Rag
Slide 17: Headlines that define our story
Headlines that define our story Strong market position in fast-growing $80B+ TAM EX remains a durable 20%+ growth engine AI is driving monetization and fueling growth across EX and CX Disciplined capital allocation supports growth and opportunistic M&A On track for $1.3B+ ARR by 2028, continuing to
Slide 19: Built to win in a large and expanding market
Built to win in a large and expanding market Our Focus is mid-market and enterprise $80B+ organizations, with a clear opportunity (1) TAM to deliver enterprise-grade capabilities and AI-driven solutions tailored to their needs. EX CX © 2025 Freshworks Inc. All rights reserved. (1) Source: Gartner Fo
Slide 20: Growth algorithm: Build | Scale | Expand
3 year growth algorithm: Build | Scale | Expand Core Products Continuing to mature our flagship New Adjacencies products to increase market share EX: Advanced integrations, AI in ITSM/ITOM, and vertical expansion with deeper enterprise capabilities. $1B+ CX: Deepen ticketing and unify channels while
Slide 21: Growth algorithm: Build | Scale | Expand
3 year growth algorithm: Build | Scale | Expand Core Products Co Contin ntinui uing ng t to o m ma at tur ure e our our f flags lagshi hip p New Adjacencies products to increase market share products to increase market share EX: Advanced integrations, AI in ITSM/ITOM, and vertical expansion with dee
Slide 22: Growth algorithm: Build | Scale | Expand
3 year growth algorithm: Build | Scale | Expand Core Products Continuing to mature our flagship New Adjacencies products to increase market share EX: Advanced integrations, AI in ITSM/ITOM, and vertical expansion with deeper enterprise capabilities. $1B+ CX: Deepen ticketing and unify channels while
Slide 25: Comprehensive EX portfolio for today's large, expanding market
EX Comprehensive EX portfolio designed for today’s large, expanding market IT HR | Finance | Facilities | Legal IT Asset Freshservice Enterprise IT Service IT Operations Freshservice Device 42 Management Management Management for Business Teams Service Management Freddy AI Platform & Automation Work
Slide 26: Enterprise grade for complex, upmarket needs
EX Enterprise grade for complex, upmarket needs… IT Service Management IT Asset Management • 24/7 Self Service with AI Agent• Asset lifecycle management • License and compliance management • Agent Assistance • Asset lifecycle management • Omnichannel and multilingual support • Configuration manageme
Slide 27: …and we see it in our numbers
EX …and we see it in our numbers Large account growth Operating at scale Upmarket pull 32% >50% 14% YoY increase in YoY growth in EX customers YoY growth in ARPA tickets created with >$100K ARR © © 2 20 02 25 5 F Fr re es sh hwo wor rks ks Inc. Inc. All All r ri ig gh ht ts s r re es se er rv ve ed
Slide 28: EX customer outcomes
51% 96% 23% 96% Employee Higher employee Customer Self-service User satisfaction satisfaction rate satisfaction score deflection rate Experience 81% 60% 100% 73% Reduction in ticket Reduction in agent Automation of core Faster incident Agent resolution time workload workflows resolution Productivity
Slide 29: Databricks: unified service management on a single platform
EX Unified service management on a Industry: Software | Location: North America | Customer Since: 2020 Challenge single platform Databricks, a global leader in data and AI, faced growing IT complexity as teams relied on a patchwork of tools, email, and Slack. This created silos, long resolution time
Slide 30: Coherent: unified service platform accelerating productivity
EX Unified service platform accelerating Industry: Manufacturing | Location: U.S. | Customer Since: 2023 Challenge productivity Coherent, a global leader in lasers, networks, and electronics, faced fragmented IT support spread across four platforms after multiple mergers. This hampered collaboration
Slide 31: Customer Video
[Customer Video]
Slide 33: ModeMax HR Support IT
* ModeMax HR Support IT *Fictitious company used for demo purposes
Slide 34: ModeMax IT manages a complex, global environment
ModeMax IT manages a complex, global environment Tools Process Global locations Global locations MS Virtual Walk ins Emails Slack Phone Teams meetings Systems Infrastructure Sales Customer support HR Finance Legal Facilities Access C I O M A N D A T E S Collaboration CRM Alerts & Endpoint Remote Sup
Slide 36: EX Product Demo
[EX Product Demo]
Slide 37: Freshworks is transforming IT with a unified, AI-powered platform
EX Freshworks is transforming IT with a unified, AI-powered, IT management platform CIOs & IT Leaders Service Teams Employees Tight integration with Freshservice ITSM, ITOM Seamless access through Enterprise Systems and ITAM powered by Device42 Slack, Microsoft Teams Freddy AI Insights Freddy AI Cop
Slide 38: ModeMax IT Support HR
ModeMax IT Support HR *Fictitious company used for demo purposes
Slide 39: ModeMax HR manages a complex, global workforce
ModeMax HR manages a complex, global workforce Remote, temporary and often Regional and relocating workforce international compliance Multiple systems of record Rising employee expectations (for assets, people, finance...) C H R O M A N D A T E S Seamless Workforce Mandatory employee experience prod
Slide 41: ESM Product Demo
[ESM Product Demo]
Slide 42: Freshworks is transforming HR with a modern, AI-powered ESM platform
EX Freshworks is transforming HR with a modern, AI-powered ESM platform HR Leaders Service Teams Employees Freshservice Journeys Freshservice for Seamless access through Business Teams Slack, Microsoft Teams Tight integration with enterprise systems Freddy AI Copilot Freddy AI Agent O U T C O M E S
Slide 43: Leading brands trust Freshworks for employee experiences
EX Leading brands trust Freshworks to deliver exceptional employee experiences © © 2 20 02 25 5 F Fr re es sh hwo wor rks ks Inc. Inc. All All r ri ig gh ht ts s r re es se er rv ve ed d. .
Slide 45: Catalysts for continued 20%+ growth in EX
EX Catalysts for continued 20%+ growth in EX Core Products New Adjacencies Infuse AI across core ITSM and ITOM workflows Deepen enterprise Expand with vertical offerings: Education, capabilities Healthcare, Government across core Continue to invest and build advanced integrations ITSM & ITOM Add-on
Slide 46: Catalysts for continued 20%+ growth in EX
EX Catalysts for continued 20%+ growth in EX Core Products New Adjacencies Infuse AI across core ITSM and ITOM workflows Deepen enterprise Expand with vertical offerings: Education, Healthcare, capabilities Government across core Continue to invest and build advanced integrations ITSM & ITOM Add-on
Slide 47: Catalysts for continued 20%+ growth in EX
EX Catalysts for continued 20%+ growth in EX Core Products Infuse AI across core ITSM and ITOM workflows Deepen enterprise Expand with vertical offerings: Education, Healthcare, capabilities Government across core Continue to invest and build advanced integrations ITSM & ITOM Add-on Products Launch
Slide 49: Freddy AI now a >$20M ARR business
Freddy AI now a >$20M ARR business Freddy AI Agent Freddy AI Copilot Freddy AI Insights for customers for service for service and employees agents leaders Speedy resolutions. Productive agents. Proactive insights. Happy customers Consistent service. Better decisions. and employees. © 2025 Freshworks
Slide 50: A continuous drumbeat of AI innovation
A continuous drumbeat of AI innovation Freddy AI Agent Freddy AI Copilot Freddy AI Insights KEY FEATURES KEY FEATURES KEY FEATURES ● Omnichannel deployment● Live translation ● Proactive trend and (web • email • chat • voice) anomaly alerts ● Response generation ● Autonomous actions ● Automated root
Slide 51: Rapid adoption, tangible value
Rapid adoption, tangible value Growing adoption Strong usage Significant impact 3X ~40M 65% YoY increase in Monthly ticket Improvement in Copilot adoption assists by Copilot response time >2X >2M ~50% YoY growth in paying Freddy AI Agent Ticket customers cumulative conversations deflection rate sinc
Slide 52: AI-driven automation reduces costs and boosts profitability
AI-Driven automation reduces costs and boosts Industry: Logistics & Transportation | Location: U.K. | Customer Since: ‘23 profitability Challenge The world’s largest open-top sightseeing operator aimed to shift sales into its customer service hub. But agents were spending 15 minutes per interaction—
Slide 53: ClickFunnels unifies support with AI-powered Freshdesk Omni
ClickFunnels unifies support with AI-powered, Industry: Software & Internet | Location: U.S. | Customer Since: 2023 Freshdesk Omni Challenge ClickFunnels ran separate support systems for its legacy and “2.0” products, forcing agents to switch between platforms. This led to delays, lost tickets, high
Slide 55: Freshworks at the forefront of AI innovation with Freddy AI
Freshworks has been at the forefront of AI innovation with Freddy AI Chatbots Freddy AI Self Service Freddy AI Agent Freddy Agentic AI Platform © 2025 Freshworks Inc. All rights reserved.
Slide 56: Freddy AI evolved into an agentic platform
We have evolved Freddy AI to be an agentic platform AI Agent Studio for pre-built AI Agents and agentic workflows Freddy AI Agent Studio Domain-specific AI agents and agentic workflows Vertical AI Agents Functional AI Agents eCommerce Travel FinTech Logistics IT HR Agentic workflow Reason Orchestrat
Slide 57: Vertical and functional agentic AI actions
Vertical and functional agentic AI actions eCommerce FinTech Logistics HR Track order Get payment details Get shipping rates Get job details Return order Get payment invoices Track shipment Get worker details Get order details Create subscription Reschedule pickup Time Off balances Cancel order Canc
Slide 58: ModeMax IT HR Support
ModeMax IT HR Support *Fictitious company used for demo purposes
Slide 59: ModeMax is all in on AI but struggles to move beyond pilots
ModeMax is all in on the promise of AI, but struggles to move beyond pilots to production Multiple point solutions Workforce adoption challenges with heavy integration Reliability and accuracy concerns Rapidly changing technology C I O M A N D A T E S Drive measurable Increase service Upskill workfo
Slide 61: AI Product Demo
[AI Product Demo]
Slide 62: Freshworks helps companies unlock the promise of agentic AI
Freshworks helps companies unlock the promise of agentic AI Business Leaders Service Teams Customers and Employees AI Agent Studio Tight integration with enterprise systems Seamless access through Freddy AI Copilot Slack, Microsoft Teams Vertical and functional Freddy AI Agent AI Agents O U T C O M
Slide 63: Trusted brands powered by Freddy AI
Trusted brands powered by Freddy AI © © 2 20 02 25 5 F Fr re es sh hwo wor rks ks Inc. Inc. All All r ri ig gh ht ts s r re es se er rv ve ed d. .
Slide 65: Copilot and AI Agent can become $100M ARR businesses
Copilot and AI Agent can become $100M ARR businesses Freddy AI Copilot Freddy AI Agent ~3x ~25% customer adoption CX customer adoption could translate to could drive $100M ARR $100M ARR © 2025 Freshworks Inc. All rights reserved.
Slide 68: Proven CX portfolio serving a broad set of customer needs
CX Proven CX portfolio that serves a broad set of customer needs Freshcaller Freshchat Freshdesk Omni Freshdesk Customer Service Operations Omnichannel Advanced Ticketing Knowledge Advanced Workflow Contact Center Engagement & Case Management Management Automation as a Service Freddy AI Platform & A
Slide 69: Stable, scaled business with AI upside
CX Stable, scaled business with AI upside Customer Retention Proven Scale AI Impact 2B 194% 14% #Tickets/Conversations/ YoY growth in Copilot YoY improvement Calls (TTM) assisted Tickets in Churn © 2025 Freshworks Inc. All rights reserved. Note: All data as of June 30, 2025, unless specifically ment
Slide 70: CX customer outcomes
90% 55% 82% 20pts Customer Lower average resolution Increase Customer Increase in NPS time than competitors in CSAT Satisfaction Satisfaction 75% 5X 90% First-contact resolution rate Resolution rate within eight Operational More queries working hours handled efficiency 35+ 248% 96% 90% 72% annual cu
Slide 71: Faster ticketing helps Satair keep aircraft in the air
CX Faster ticketing helps Satair keep aircraft in the air Industry: Manufacturing | Location: Denmark | Customer Since: ‘21 Challenge Satair’s support teams relied on email, leading to delays, confusion, and costly setbacks during critical aircraft-on- ground situations. To unify global operations a
Slide 73: ModeMax IT HR Support
ModeMax IT HR Support *Fictitious company used for demo purposes
Slide 74: ModeMax CX teams struggle to meet rising customer expectations
ModeMax CX teams are struggling to efficiently meet rising customer expectations Support Operations Disconnected channels Web Email Chat Phone Walk-ins Social High service volumes and siloed tools Support Success Sales Legal Warehouse Deliveries Rising customer expectations Service desk attrition an
Slide 76: CX Product Demo
[CX Product Demo]
Slide 77: Freshworks has transformed CX teams with a unified omnichannel platform
CX Freshworks has transformed CX teams with a unified, AI-powered, omnichannel CX platform CX & Ops Leaders Service Teams Customers A unified, omnichannel A unified support workspace Freddy AI Agent for email, CX platform and chat AI agent studio with agentic workflows Freddy AI Insights (coming soo
Slide 78: Leading brands trust Freshworks for customer experiences
CX Leading brands trust Freshworks for delivering exceptional customer experiences © © 2 20 02 25 5 F Fr re es sh hwo wor rks ks Inc. Inc. All All r ri ig gh ht ts s r re es se er rv ve ed d. .
Slide 80: Catalysts to strengthen CX portfolio
CX Catalysts to strengthen CX portfolio Core Products Strengthen Build ticketing depth and expand multi-channel and streamline and multi-modal (text, voice, and beyond in one unified workspace) product portfolio Add-on Products Launch library of AI Agents, enable Scale Agentic multi-agent orchestrat
Slide 81: Catalysts to strengthen CX portfolio
CX Catalysts to strengthen CX portfolio Core Products New Adjacencies Strengthen Build ticketing depth and expand multi-channel and streamline and multi-modal (text, voice, and beyond in one unified workspace) product portfolio Add-on Products Launch library of AI Agents, enable Scale Agentic multi-
Slide 82: Catalysts to strengthen CX portfolio
CX Catalysts to strengthen CX portfolio Core Products Strengthen Build ticketing depth and expand multi-channel and streamline and multi-modal (text, voice, and beyond in one product portfolio unified workspace) Add-on Products Launch library of AI Agents, enable Scale Agentic multi-agent orchestrat
Slide 83: Growth algorithm: Build | Scale | Expand
3 year growth algorithm: Build | Scale | Expand Core Products Continuing to mature our flagship New Adjacencies products to increase market share EX: Advanced integrations, AI in ITSM/ITOM, and vertical expansion with deeper enterprise capabilities $1B+ CX: Deepen ticketing and unify channels while
Slide 86: We've sharpened our three go-to-market motions
We’ve sharpened our three go-to-market motions Growing Field Efficient Inside Scaling Partner Sales Motion Sales Motion Ecosystem Deeper coverage for our Digital search, social media, Partners enrich our customers who need it virtual events, trials offerings and expand our global outreach © 2025 Fre
Slide 87: Global footprint prioritizing key markets
Global footprint prioritizing key markets Utrecht London Berlin Seattle, WA Denver, CO Paris Boston, MA San Mateo, CA Hyderabad Bengaluru Chennai NA EMEA APAC & ROW 46% of Revenue 39% of Revenue 15% of Revenue Q2-25 Q2-25 Q2-25 Sydney © 2025 Freshworks Inc. All rights reserved.
Slide 88: Clear traction with mid-market and enterprise segments
Clear traction in the field with mid-market and enterprise segments Select new logos since 2024 Total ARR >60% Mid-market & Enterprise Customers Note: All data as of June 30, 2025. © 2025 Freshworks Inc. All rights reserved.
Slide 89: Land and expand: a mid-market customer's journey
Land and expand: a mid-market and enterprise customers’ journey 2025 A multi-billion dollar US credit union with 600+ employees 2024 2023 2022 2021 B U S I N E S S N E E D Modernize ITSM, replace Growing IT team and Broaden to HR, Drive efficiency and Acquisition-driven legacy tools, improve need fo
Slide 90: Leverage efficient high velocity inside sales team in India
Leverage our efficient, high velocity inside sales team in India to drive SMB sales New business ARR from Time to close SMB customers Copilot attach rate 80% 18% 9% of deals in 30 days as of Q2-25 YoY Growth Note: All data as of June 30, 2025, unless specifically mentioned. © 2025 Freshworks Inc. Al
Slide 91: AI-driven support enables iPostal1 to scale efficiently
AI-Driven support enables iPostal1 to scale efficiently Industry: Business Services | Location: U.S. | Customer Since: ‘19 Challenge iPostal1, a leading virtual mailbox provider with 3,000+ locations, struggled during the pandemic as rising demand overwhelmed teams using spreadsheets and ad- hoc too
Slide 92: Growing partner ecosystem is a multiplier
Growing partner ecosystem is a multiplier Partner Impact 500+ Partners Up 25% since last Investor Day >33% Solution Provider Reseller GSI Distributor of new ARR touched by Partners Services Partner Sales Consultant Representative selection of trusted partners Note: Data as of June 30, 2025. Note: Fo
Slide 93: An example of early success with Partners: CDW
An example of early success with Partners Company: CDW | Industry: Various | Partner Since: 2024 Opening new doors Achieving rapid traction across all segments since we signed the 250+ partnership in 2024 (from SMB to Enterprise) Deal registrations; 2025 YTD Unlocking opportunities Across key vertic
Slide 94: Proven motions, accelerating momentum
Proven motions, accelerating momentum Growing Field Efficient Inside Scaling Partner Sales Motion Sales Motion Ecosystem © 2025 Freshworks Inc. All rights reserved.
Slide 96: Customer panel speakers
Mika Yamamoto Vineet Sachdev Michelle Esgar Chief Customer and Head of Information Director Marketing Marketing Officer Technology and Experience © 2025 Freshworks Inc. All rights reserved.
Slide 99: From plan to proof: since our last Investor Day
From plan to proof: since our last Investor Day >$840M ARR Scaled Business Growing 20% (2YR CAGR) Rule of 40+ Durable & Profitable Growth Q2-25 - 18% YoY Revenue Growth + 27% adj. FCF margin >$20M ARR AI Monetization >2x YoY >60% ARR Upmarket Expansion Mid-market & Enterprise Customers Acquired Devi
Slide 100: Continuing to drive durable growth in revenue
Continuing to drive durable growth in revenue ($ in millions; % YoY growth) $900 $826 CAGR 2021-2025E 15% $720 22% $600 21% $596 20% $498 34% $300 $371 49% $0 2021 2023 2025E 2022 2024 IPO Investor Day Investor Day © 2025 Freshworks Inc. All rights reserved. Note: 2025 figures are based on the midpo
Slide 101: Our products continue to grow at scale
Our products continue to grow at scale Employee Experience (EX) Customer Experience (CX) ARR ARR +14% +2% $6.4K $24.1K >$450M >$380M $6.3K $21.3K 22% YoY (CC) 8% YoY (CC) Q2-24 Q2-25 Q2-24 Q2-25 EX ARPA CX ARPA >12,300* >12,900* Customers >$5K ARR Customers >$5K ARR Note: Unless otherwise noted, fin
Slide 102: Over 60% of total ARR from mid-market and enterprise
Over 60% of total ARR comes from mid-market and enterprise customers Employee Experience (EX) Customer Experience (CX) 24% 20% 45% 47% 76% 80% 55% 53% Q2-23 Q2-25 Q2-23 Q2-25 Represents ARR distribution Mid-market & Represents ARR distribution Mid-market & SMB SMB of the following segments: of the f
Slide 103: >$50K ARR customers now the majority of our business
>$50K ARR customers now make up the majority of our business Over 70 customers >$500K ARR and more than a dozen customers >$1M ARR >$5K ARR Customers >$50K ARR Customers >$100K ARR Customers 23,975 CAGR CAGR CAGR 3,460 Q2-21 to Q2-25 Q2-21 to Q2-25 Q2-21 to Q2-25 21,774 1,392 2,839 16% 31% 35% 1,140
Slide 104: Strong track record of expansion with annual cohorts
Strong track record of expansion with annual cohorts 2024 2023 2022 Since 2012, every annual 2021 cohort has expanded 2020 2019 2018 New annual cohort size 2017 2016 continues to trend positively 2015 2014 2013 2012 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 The chart illustrat
Slide 105: Path to inflection for net dollar retention
Path to inflection for net dollar retention >106% Long term NDR 104% upside drivers EX 65% of Total ARR EX NDR of >110% via new products (AI, ESM, ITAM, etc.) EX NDR of ~110% CX NDR of >100% with greater AI adoption CX NDR of ~100% Continued churn improvements Optimized price and packaging Q2-25 202
Slide 106: Delivered on operating efficiency
Delivered on operating efficiency Non-GAAP 82% 82% 84% 86% 86% Gross Margin Non-GAAP (5%) (4%) 7% 14% 23% Operating Margin FCF Margin 1% (3%) 13% 21% 27% 18% 18% 16% 14% 14% 20% 20% 17% 17% 15% COR R&D 54% 56% 48% 45% 38% S&M G&A 12% 11% 11% 10% 10% 2021 2022 2023 2024 H1-25 Non-GAAP Expenses as % o
Slide 107: GAAP net income profitability expected by Q4-26
GAAP net income profitability expected by Q4-26 2022 2023 2024 2025E 2026E Annual improvements in GAAP net loss since 2022 $(95) SBC expenses continue $(137) trending to LT target of <20% of revenue GAAP Net Income (Loss) $(232) © 2025 Freshworks Inc. All rights reserved.
Slide 108: Prudent equity management for GAAP profitability
Prudent equity management for GAAP profitability 35% Post-IPO Long Term Targets Pre-IPO 30% <20% SBC as % of revenue Share dilution of <2% ~23% 18-20% SBC as % of Revenue Completed $400M Share Repurchase Program in Aug 2025 Repurchased 27.9M shares 2023 2024 2025E 2028E at avg price of $14.35 Net di
Slide 109: Strong cash generation to reinvest in business
Strong cash generation to reinvest in business Non-GAAP adjusted FCF and adjusted FCF margin ($ in millions) +40% 26% 2025E Non-GAAP adjusted FCF YoY Growth $215 21% $153 13% $926M Cash $78 as of June 30, 2025 (3%) $(15) 2022 2023 2024 2025E © 2025 Freshworks Inc. All rights reserved. Note: 2025 fig
Slide 110: Achieved Rule of 40 a full year ahead of schedule
Achieved Rule of 40 a full year ahead of schedule Rule of 40 Investor Day 2023 20% 19% Revenue Growth 20% FCF Margin 10% 2023E 2025E Long Term Investor Day Rule of 40 2025 21% Revenue Growth 20% 21% FCF Margin 13% 2028E 2023 2024 © 2025 Freshworks Inc. All rights reserved.
Slide 111: Financial outlook
Financial outlook ($ in millions except for per share data) Q3-25E 2025E (1) Revenue $207.0 - $210.0 $822.9 - $828.9 Year-over-year growth 11% - 12% 14% - 15% Year-over-year growth (constant currency) 11% - 12% 14% - 16% (1) Non-GAAP income from operations $31.2 - $33.2 $153.0 - $157.0 (2) Non-GAAP
Slide 112: Freshworks compares favorably to SMID software peers
Freshworks compares favorably to SMID software peers SMID SaaS Peers* FRSH 2025E Revenue Growth ~15% YoY ~13% YoY Gross Margin ~86% ~75% ~19% ~11% Operating Margin ~26% ~14% Free Cash Flow Margin Rule of 40 Rule of 27 Rule of 41 Revenue Growth + FCF Margin Source: Data from Factset estimates as of 9
Slide 113: Growth algorithm: Build | Scale | Expand
3 year growth algorithm: Build | Scale | Expand Core Products Continuing to mature our flagship New Adjacencies products to increase market share EX: Advanced integrations, AI in ITSM/ITOM, and vertical expansion with deeper enterprise capabilities $1B+ CX: Deepen ticketing and unify channels while
Slide 114: Shape of our business in 2028
Shape of our business in 2028 Ending ARR $1.3B+ ARR 65% of ARR Driving EX growth EX Target 70% of ARR Upmarket Expansion Mid-market & Enterprise Customers Target NDR Inflection >106% NDR © 2025 Freshworks Inc. All rights reserved.
Slide 115: Our financial future by 2028
Our financial future by 2028 Accelerating Growth Robust Cash Flow Rule of $1.2B+ $340M+ 45 2028E REVENUE 2028E FREE CASH FLOW +15-16% YoY 28-30% Margin © 2025 Freshworks Inc. All rights reserved.
Slide 116: Long-term model
Long-term model 2025E 2026E 2027E 2028E Revenue YoY Growth 15% 13-14% 14-15% 15-16% Non-GAAP Gross Margin 86% 85-86% R&D 16% AI talent and product development 16-17% As a % of Revenue S&M 40% 38-39% Expand field motion / Invest in brand As a % of Revenue G&A 11% Operate more efficiently 9-10% As a %
Slide 117: Headlines that define our story
Headlines that define our story Strong market position in fast-growing $80B+ TAM EX remains a durable 20%+ growth engine AI is driving monetization and fueling growth across EX and CX Disciplined capital allocation supports growth and opportunistic M&A On track for $1.3B+ ARR by 2028, continuing to
Slide 118: Q&A
Q&A © © 2 20 02 25 5 F Fr re es sh hwo wor rks ks Inc. Inc. All All r ri ig gh ht ts s r re es se er rv ve ed d. .
Slide 120: Appendix
Appendix © © 2 20 02 25 5 F Fr re es sh hwo wor rks ks Inc. Inc. All All r ri ig gh ht ts s r re es se er rv ve ed d. .
Slide 121: Definitions
Definitions Customer: a unique domain or unique email address with at least one more more paid subscriptions to one or more of our products ARPA: annual revenue per account ARR: annual recurring revenue CAGR: compounding annual growth rate TTM: trailing twelve months SMB: companies with 250 or fewer
Slide 122: GAAP to non-GAAP Reconciliations: Revenue
GAAP to non-GAAP Reconciliations Revenue ($ in millions) Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 GAAP Revenue $174.1 $186.6 $194.6 $196.3 $204.7 YoY Growth rates 20% 22% 22% 19% 18% Add: Effects of foreign currency rate fluctuations $0.2 $0.1 ($1.0) $0.6 ($0.6) (1) Revenue adjusted for constant currency $174.
Slide 123: GAAP to non-GAAP Reconciliations: Revenue
GAAP to non-GAAP Reconciliations Revenue ($ in millions) 2021 2022 2023 2024 H1-25 GAAP Revenue $371.0 $498.0 $596.4 $720.4 $401.0 YoY Growth rates 49% 34% 20% 21% 18% Add: Effects of foreign currency rate fluctuations $5.0 $11.3 $0.6 ($1.4) $0.0 (1) Revenue adjusted for constant currency $366.0 $50
Slide 124: GAAP to non-GAAP Reconciliations: Cost of revenue
GAAP to non-GAAP Reconciliations Cost of revenue ($ in millions) 2021 2022 2023 2024 H1-25 GAAP cost of revenue $78.0 $95.8 $103.4 $113.3 $61.0 Less: stock-based compensation expense - employee awards ($5.6) ($7.0) ($6.8) ($6.6) ($3.0) Less: employer taxes and employee stock transactions ($0.3) – ($
Slide 125: GAAP to non-GAAP Reconciliations: Gross profit
GAAP to non-GAAP Reconciliations Gross profit ($ in millions) 2021 2022 2023 2024 H1-25 GAAP gross profit $293.0 $402.2 $493.1 $607.1 $339.9 Add: stock-based compensation expense - employee awards $5.6 $7.0 $6.8 $6.6 $3.0 Add: employer taxes and employee stock transactions $0.3 – $0.1 $0.1 $0.1 Add:
Slide 126: GAAP to non-GAAP Reconciliations: Operating expenses
GAAP to non-GAAP Reconciliations Operating expenses ($ in millions) 2021 2022 2023 2024 H1-25 GAAP sales and marketing $260.3 $343.2 $357.8 $390.8 $184.4 Less: stock-based compensation expense - employee awards (53.2) (64.3) ($66.8) ($63.2) ($25.2) Less: employer taxes and employee stock transaction
Slide 127: GAAP to non-GAAP Reconciliations: Operating expenses
GAAP to non-GAAP Reconciliations Operating expenses ($ in millions) 2021 2022 2023 2024 H1-25 GAAP research and development $120.4 $135.5 $137.8 $164.6 $79.9 Less: stock-based compensation expense - employee awards (45.2) (36.4) (37.5) (41.5) (17.8) Less: employer taxes and employee stock transactio
Slide 128: GAAP to non-GAAP Reconciliations: Income from operations
GAAP to non-GAAP Reconciliations Income (loss) from operations ($ in millions) 2021 2022 2023 2024 H1-25 GAAP income (loss) from operations ($204.8) ($233.4) ($170.2) ($138.6) ($19.1) Add: stock-based compensation expense - employee awards 173.4 207.7 210.7 216.7 100.9 Add: employer taxes and employ
Slide 129: GAAP to non-GAAP Reconciliations: Free cash flow
GAAP to non-GAAP Reconciliations Free cash flow ($ in millions) Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Net cash provided by (used in) operating activities $36.3 $42.3 $41.4 $58.0 $58.6 Less: purchase of property and equipment ($2.3) ($1.1) ($5.1) ($1.3) ($0.4) Less: capitalized internal-use software ($1.2) (
Slide 130: GAAP to non-GAAP Reconciliations: Free cash flow
GAAP to non-GAAP Reconciliations Free cash flow ($ in millions) 2021 2022 2023 2024 H1-25 Net cash provided by (used in) operating activities $11.5 ($2.5) $86.2 $160.6 $116.6 Less: purchase of property and equipment ($5.6) ($7.1) ($2.1) ($9.2) ($1.7) Less: capitalized internal-use software ($3.6) ($

Freshworks — Investor Day (September 2025) on 6ix

Freshworks — Investor Day (September 2025)

Slide 1: Investor Day September 11, 2025

Slide 2: Brand Video

Slide 3: Welcome

Slide 4: Disclaimer

Slide 5: Use of Non-GAAP Measures

Slide 6: Agenda

Slide 7: Durable Growth Fueled by AI and Uncomplicated Solutions

Slide 8: Our vision

Slide 9: Amazing brands around the world trust Freshworks

Slide 10: The EX and CX portfolio powered by AI

Slide 11: From plan to proof: since our last Investor Day

Slide 12: Upmarket demand has changed our business

Slide 13: Why we win against our largest competitors

Slide 14: Why customers win with Freshworks

Slide 15: Customer Montage Video

Slide 16: The team driving our next chapter of growth

Slide 17: Headlines that define our story

Slide 18: Market Opportunity

Slide 19: Built to win in a large and expanding market

Slide 20: Growth algorithm: Build | Scale | Expand

Slide 21: Growth algorithm: Build | Scale | Expand

Slide 22: Growth algorithm: Build | Scale | Expand

Slide 23: Product Innovation & Strategy

Slide 24: Employee Experience EX

Slide 25: Comprehensive EX portfolio for today's large, expanding market

Slide 26: Enterprise grade for complex, upmarket needs

Slide 27: …and we see it in our numbers

Slide 28: EX customer outcomes

Slide 29: Databricks: unified service management on a single platform

Slide 30: Coherent: unified service platform accelerating productivity

Slide 31: Customer Video

Slide 32: EX: Product Demo

Slide 33: ModeMax HR Support IT

Slide 34: ModeMax IT manages a complex, global environment

Slide 35: EX IT Service Mgmt | ITOM | ITAM

Slide 36: EX Product Demo

Slide 37: Freshworks is transforming IT with a unified, AI-powered platform

Slide 38: ModeMax IT Support HR

Slide 39: ModeMax HR manages a complex, global workforce

Slide 40: EX for Business Teams: Enterprise Service Management

Slide 41: ESM Product Demo

Slide 42: Freshworks is transforming HR with a modern, AI-powered ESM platform

Slide 43: Leading brands trust Freshworks for employee experiences

Slide 44: EX Growth Opportunity

Slide 45: Catalysts for continued 20%+ growth in EX

Slide 46: Catalysts for continued 20%+ growth in EX

Slide 47: Catalysts for continued 20%+ growth in EX

Slide 48: Freddy AI

Slide 49: Freddy AI now a >$20M ARR business

Slide 50: A continuous drumbeat of AI innovation

Slide 51: Rapid adoption, tangible value

Slide 52: AI-driven automation reduces costs and boosts profitability

Slide 53: ClickFunnels unifies support with AI-powered Freshdesk Omni

Slide 54: AI: Product Demo

Slide 55: Freshworks at the forefront of AI innovation with Freddy AI

Slide 56: Freddy AI evolved into an agentic platform

Slide 57: Vertical and functional agentic AI actions

Slide 58: ModeMax IT HR Support

Slide 59: ModeMax is all in on AI but struggles to move beyond pilots

Slide 60: Freddy AI Agent Studio

Slide 61: AI Product Demo

Slide 62: Freshworks helps companies unlock the promise of agentic AI

Slide 63: Trusted brands powered by Freddy AI

Slide 64: AI Growth Opportunity

Slide 65: Copilot and AI Agent can become $100M ARR businesses

Slide 66: Our AI revenue tracks to

Slide 67: Customer Experience CX

Slide 68: Proven CX portfolio serving a broad set of customer needs

Slide 69: Stable, scaled business with AI upside

Slide 70: CX customer outcomes

Slide 71: Faster ticketing helps Satair keep aircraft in the air

Slide 72: CX: Product Demo

Slide 73: ModeMax IT HR Support

Slide 74: ModeMax CX teams struggle to meet rising customer expectations

Slide 75: CX Freddy AI

Slide 76: CX Product Demo

Slide 77: Freshworks has transformed CX teams with a unified omnichannel platform

Slide 78: Leading brands trust Freshworks for customer experiences

Slide 79: CX Growth Opportunity