Freshworks Inc. (FRSH) 10-Year Financial Performance & Capital Metrics

FRSH • • Industrial / General

TechnologyApplication SoftwareMarketing & Customer EngagementCustomer Analytics

AboutFreshworks Inc., a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc. was formerly known as Freshdesk Inc. and changed its name to Freshworks Inc. in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.Show more

Revenue $720M +20.8%
EBITDA -$119M +24.6%
Net Income -$95M +30.6%
EPS (Diluted) -0.32 +31.9%
Gross Margin 84.27% +1.9%
EBITDA Margin -16.55% +37.6%
Operating Margin -19.24% +32.6%
Net Margin -13.24% +42.6%
ROE -8.63% +33.3%
ROIC -17.78% +2.8%
Debt/Equity 0.03 +22.3%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 20.3% free cash flow margin
✓Strong 5Y sales CAGR of 33.1%

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y22.15%

5Y33.11%

3Y24.76%

TTM18.18%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM70.83%

EPS CAGR

10Y-

5Y-

3Y-

TTM69.89%

ROCE

10Y Avg-10.45%

5Y Avg-20.03%

3Y Avg-15.6%

Latest-11.88%

Peer Comparison

Customer Analytics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GTMZoomInfo Technologies Inc.	3.12B	10.00	125	-2.03%	8.4%	6.8%	9.66%	0.82
UBERUber Technologies, Inc.	175.33B	84.38	18.50	17.96%	33.54%	57.07%	3.93%	0.51
CXMSprinklr, Inc.	1.01B	6.96	15.82	8.74%	13.42%	20.18%	7.09%	0.08
EGANeGain Corporation	283.5M	10.48	9.27	-4.71%	38.19%	41.21%	1.66%	0.05
YMMFull Truck Alliance Co. Ltd.	9.21B	9.80	3.33	33.22%	34.41%	10.5%	31.45%	0.00
AMODAlpha Modus Holdings, Inc.	29.16M	0.70	0.95
LPSNLivePerson, Inc.	38.17M	3.27	-0.14	-22.27%	-51.72%
PSQHPSQ Holdings, Inc.	48.82M	1.05	-0.58	308.01%	-178.95%	-305.78%		1.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	120.21M	126.88M	118.66M	126.43M	172.38M	249.66M	371.02M	498M	596.43M	720.42M
Revenue Growth %	0.23%	0.06%	-0.06%	0.07%	0.36%	0.45%	0.49%	0.34%	0.2%	0.21%
Cost of Goods Sold+	26.6M	28.35M	25.96M	20.41M	36.46M	52.49M	78.03M	95.77M	103.37M	113.33M
COGS % of Revenue	0.22%	0.22%	0.22%	0.16%	0.21%	0.21%	0.21%	0.19%	0.17%	0.16%
Gross Profit+	93.61M	98.54M	92.7M	106.01M	135.91M	197.17M	292.99M	402.23M	493.06M	607.09M
Gross Margin %	0.78%	0.78%	0.78%	0.84%	0.79%	0.79%	0.79%	0.81%	0.83%	0.84%
Gross Profit Growth %	0.2%	0.05%	-0.06%	0.14%	0.28%	0.45%	0.49%	0.37%	0.23%	0.23%
Operating Expenses+	31.57M	31.44M	37.01M	65.97M	165.59M	253.28M	497.77M	635.6M	663.24M	745.7M
OpEx % of Revenue	0.26%	0.25%	0.31%	0.52%	0.96%	1.01%	1.34%	1.28%	1.11%	1.04%
Selling, General & Admin	28.21M	28.11M	33.87M	49.73M	127.03M	184.07M	377.37M	500.06M	525.48M	571.45M
SG&A % of Revenue	0.23%	0.22%	0.29%	0.39%	0.74%	0.74%	1.02%	1%	0.88%	0.79%
Research & Development	0	0	0	0	38.56M	69.21M	120.41M	135.54M	137.76M	164.59M
R&D % of Revenue	-	-	-	-	0.22%	0.28%	0.32%	0.27%	0.23%	0.23%
Other Operating Expenses	3.37M	3.33M	3.14M	16.23M	0	0	0	0	0	9.66M
Operating Income+	15.63M	9.65M	-14.27M	11.27M	-29.67M	-56.11M	-204.78M	-233.37M	-170.17M	-138.61M
Operating Margin %	0.13%	0.08%	-0.12%	0.09%	-0.17%	-0.22%	-0.55%	-0.47%	-0.29%	-0.19%
Operating Income Growth %	0.02%	-0.38%	-2.48%	1.79%	-3.63%	-0.89%	-2.65%	-0.14%	0.27%	0.19%
EBITDA+	25.64M	21.88M	-3.82M	18.51M	-23.41M	-44.94M	-191.49M	-225.06M	-158.03M	-119.19M
EBITDA Margin %	0.21%	0.17%	-0.03%	0.15%	-0.14%	-0.18%	-0.52%	-0.45%	-0.26%	-0.17%
EBITDA Growth %	0.07%	-0.15%	-1.17%	5.85%	-2.26%	-0.92%	-3.26%	-0.18%	0.3%	0.25%
D&A (Non-Cash Add-back)	10M	12.24M	10.45M	7.24M	6.26M	11.17M	13.29M	8.31M	12.14M	19.41M
EBIT	0	0	-14.47M	11.02M	-29.67M	-56.11M	-204.78M	-233.37M	-170.17M	-128.95M
Net Interest Income+	0	0	0	0	1.28M	4.21M	2.45M	14.77M	45.9M	51.7M
Interest Income	0	0	0	0	1.28M	4.21M	2.45M	14.77M	45.9M	51.7M
Interest Expense	0	0	5.08M	5.21M	0	0	0	0	0	0
Other Income/Expense	-9.16M	-5.06M	-5.28M	-5.46M	2.18M	2.83M	23.3M	12.58M	46.4M	47.77M
Pretax Income+	6.48M	4.59M	-19.55M	5.81M	-27.49M	-53.28M	-181.48M	-220.79M	-123.77M	-90.84M
Pretax Margin %	0.05%	0.04%	-0.16%	0.05%	-0.16%	-0.21%	-0.49%	-0.44%	-0.21%	-0.13%
Income Tax+	2.07M	1.94M	-19.54M	1.48M	3.63M	4.01M	10.52M	11.34M	13.67M	4.53M
Effective Tax Rate %	0.76%	0.58%	0%	0.74%	1.13%	1.08%	1.06%	1.05%	1.11%	1.05%
Net Income+	4.91M	2.65M	-7K	4.32M	-31.13M	-57.29M	-192M	-232.13M	-137.44M	-95.37M
Net Margin %	0.04%	0.02%	-0%	0.03%	-0.18%	-0.23%	-0.52%	-0.47%	-0.23%	-0.13%
Net Income Growth %	2.94%	-0.46%	-1%	618.71%	-8.2%	-0.84%	-2.35%	-0.21%	0.41%	0.31%
Net Income (Continuing)	4.91M	2.65M	-7K	4.32M	-31.13M	-57.29M	-192M	-232.13M	-137.44M	-95.37M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.29	0.16	-0.00	0.25	-0.66	-6.40	-10.39	-0.82	-0.47	-0.32
EPS Growth %	1.9%	-0.45%	-1%	-	-3.64%	-8.7%	-0.62%	0.92%	0.43%	0.32%
EPS (Basic)	0.29	0.16	-0.00	0.25	-0.66	-6.40	-10.39	-0.82	-0.47	-0.32
Diluted Shares Outstanding	16.87M	16.77M	16.87M	17M	46.91M	252.9M	275.47M	284.59M	293.09M	300.84M
Basic Shares Outstanding	16.65M	16.74M	16.87M	17M	46.89M	252.9M	275.47M	284.59M	293.09M	300.84M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	18.9M	13.12M	9.35M	12.05M	276.5M	312.4M	1.42B	1.26B	1.36B	1.27B
Cash & Short-Term Investments	6.87M	2.07M	2.17M	5.77M	222.86M	238.12M	1.32B	1.15B	1.19B	1.07B
Cash Only	6.87M	2.07M	2.17M	5.77M	75M	95.38M	747.86M	304.09M	488.12M	620.32M
Short-Term Investments	0	0	0	0	147.86M	142.73M	575.68M	843.4M	699.51M	449.75M
Accounts Receivable	4.94M	5.33M	3.79M	3.56M	24.3M	34.27M	51.76M	73.27M	97.18M	122.91M
Days Sales Outstanding	15.01	15.33	11.65	10.29	51.44	50.1	50.92	53.7	59.47	62.27
Inventory	868K	917K	719K	549K	0	0	0	0	0	0
Days Inventory Outstanding	11.91	11.81	10.11	9.82	-	-	-	-	-	-
Other Current Assets	6.22M	4.8M	2.67M	2.17M	5.45M	9.17M	14.64M	36.11M	70.74M	72.45M
Total Non-Current Assets+	256.57M	260.76M	236.82M	234.67M	45.27M	55.02M	61.44M	123.34M	101.23M	346.46M
Property, Plant & Equipment	21.26M	28.52M	10.06M	4.87M	19.96M	20.78M	21.48M	57.16M	55.5M	62.78M
Fixed Asset Turnover	5.65x	4.45x	11.79x	25.98x	8.64x	12.01x	17.27x	8.71x	10.75x	11.47x
Goodwill	106.51M	108.47M	107.75M	101.76M	4.47M	6.18M	6.18M	6.18M	6.18M	147.01M
Intangible Assets	87M	87M	87M	87M	4.4M	6.22M	1.89M	303K	0	90.84M
Long-Term Investments	143K	57K	0	126.18M	0	0	0	72K	0	0
Other Non-Current Assets	39.28M	31.75M	28.45M	-90.31M	14.37M	17.44M	25.6M	50.94M	29.54M	37.32M
Total Assets+	275.47M	273.87M	246.17M	246.72M	321.77M	367.42M	1.48B	1.38B	1.46B	1.61B
Asset Turnover	0.44x	0.46x	0.48x	0.51x	0.54x	0.68x	0.25x	0.36x	0.41x	0.45x
Asset Growth %	0.03%	-0.01%	-0.1%	0%	0.3%	0.14%	3.04%	-0.07%	0.06%	0.11%
Total Current Liabilities+	24.15M	22.9M	27.85M	32.79M	98.38M	152.24M	223.35M	271.69M	327.21M	407.71M
Accounts Payable	9.8M	6.16M	5.39M	4.77M	3.65M	3.71M	6.32M	5.91M	3.48M	1.62M
Days Payables Outstanding	134.43	79.32	75.78	85.34	36.59	25.8	29.57	22.52	12.31	5.21
Short-Term Debt	2.8M	7.88M	8.4M	11.4M	0	0	0	6.78M	0	0
Deferred Revenue (Current)	1000K	1000K	918K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	9.76M	7.5M	13.14M	14.9M	6.73M	8.98M	21.47M	28.56M	22.27M	3.69M
Current Ratio	0.78x	0.57x	0.34x	0.37x	2.81x	2.05x	6.36x	4.63x	4.14x	3.10x
Quick Ratio	0.75x	0.53x	0.31x	0.35x	2.81x	2.05x	6.36x	4.63x	4.14x	3.10x
Cash Conversion Cycle	-107.51	-52.18	-54.01	-65.23	-	-	-	-	-	-
Total Non-Current Liabilities+	153.67M	149.48M	116.16M	106.11M	1.35B	2.91B	21.43M	56.71M	57.3M	66.25M
Long-Term Debt	108.24M	100.97M	86.99M	70.64M	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	28.17M	26.8M	30.22M
Deferred Tax Liabilities	42.44M	44.18M	24.46M	23.12M	0	0	0	0	0	0
Other Non-Current Liabilities	2.45M	3.92M	3.92M	3.8M	1.35B	2.91B	21.43M	28.53M	30.5M	36.03M
Total Liabilities	177.81M	172.38M	144M	147.7M	1.44B	3.06B	244.77M	328.4M	384.51M	473.96M
Total Debt+	111.04M	108.84M	95.39M	82.04M	0	0	0	34.95M	29.49M	38.29M
Net Debt	104.17M	106.78M	93.22M	76.28M	-75M	-95.38M	-747.86M	-269.14M	-458.63M	-582.02M
Debt / Equity	1.14x	1.07x	0.93x	0.83x	-	-	-	0.03x	0.03x	0.03x
Debt / EBITDA	4.33x	4.97x	-	4.43x	-	-	-	-	-	-
Net Debt / EBITDA	4.06x	4.88x	-	4.12x	-	-	-	-	-	-
Interest Coverage	-	-	-2.81x	2.16x	-	-	-	-	-	-
Total Equity+	97.66M	101.5M	102.17M	99.02M	-1.12B	-2.7B	1.24B	1.05B	1.07B	1.14B
Equity Growth %	0.07%	0.04%	0.01%	-0.03%	-12.34%	-1.4%	1.46%	-0.15%	0.02%	0.06%
Book Value per Share	5.79	6.05	6.06	5.82	-23.93	-10.66	4.49	3.70	3.66	3.78
Total Shareholders' Equity	97.66M	101.5M	102.17M	99.02M	-1.12B	-2.7B	1.24B	1.05B	1.07B	1.14B
Common Stock	169K	170K	170K	170K	1K	1K	3K	3K	3K	3K
Retained Earnings	-21.21M	-18.61M	-18.61M	-22.32M	-1.12B	-2.7B	-3.27B	-3.5B	-3.64B	-3.74B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	139K	411K	-747K	-7.43M	-754K	-338K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	23.74M	16.8M	15.54M	10.24M	-8.16M	32.53M	11.46M	-2.52M	86.18M	160.65M
Operating CF Margin %	0.2%	0.13%	0.13%	0.08%	-0.05%	0.13%	0.03%	-0.01%	0.14%	0.22%
Operating CF Growth %	0.53%	-0.29%	-0.08%	-0.34%	-1.8%	4.98%	-0.65%	-1.22%	35.13%	0.86%
Net Income	4.91M	2.65M	-7K	4.32M	-31.13M	-57.29M	-192M	-232.13M	-137.44M	-95.37M
Depreciation & Amortization	10M	12.24M	10.45M	7.24M	6.26M	11.17M	13.29M	11.5M	12.14M	19.41M
Stock-Based Compensation	1.08M	898K	687K	495K	273K	0	173.44M	207.7M	210.71M	216.71M
Deferred Taxes	1.71M	1.72M	-19.72M	1.3M	-939K	-2.36M	-1.91M	-2.4M	-1.32M	-12.64M
Other Non-Cash Items	9.07M	3.83M	32.84M	-875K	3.65M	52.09M	-9.39M	23.92M	16.17M	22.8M
Working Capital Changes	-3.02M	-4.53M	-8.71M	-2.24M	13.72M	28.92M	28.02M	-11.1M	-14.08M	9.73M
Change in Receivables	0	-522K	1.54M	238K	-9.37M	-9.93M	-17.51M	-18.89M	-26.98M	-17.14M
Change in Inventory	0	6.88M	9.03M	19.46M	0	0	0	0	0	0
Change in Payables	3.63M	-1.1M	-783K	-1.21M	2.67M	53K	1.99M	77K	-2.42M	-2.2M
Cash from Investing+	-19.55M	-19.39M	-1.65M	6.99M	-148.95M	-11.43M	-420.3M	-284.83M	158.5M	38.8M
Capital Expenditures	-10.43M	-18.01M	-3.99M	-576K	-11.51M	-10.76M	-5.57M	-12.24M	-2.07M	-9.18M
CapEx % of Revenue	0.09%	0.14%	0.03%	0%	0.07%	0.04%	0.01%	0.02%	0%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.08M	1.27M	2.34M	7.72M	-3.32M	0	-2.93M	0	-6.16M	-5.21M
Cash from Financing+	-2.38M	-2.21M	-13.78M	-13.63M	150.23M	-1.91M	1.06B	-156.35M	-60.62M	-67.26M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.38M	-2.21M	-13.78M	-13.63M	412K	-2.15M	-10.98M	-167.22M	-67.98M	-53.57M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	13.31M	-1.21M	11.55M	9.66M	-22.99M	23.52M	2.34M	-14.77M	77.84M	145.98M
FCF Margin %	0.11%	-0.01%	0.1%	0.08%	-0.13%	0.09%	0.01%	-0.03%	0.13%	0.2%
FCF Growth %	0.16%	-1.09%	10.58%	-0.16%	-3.38%	2.02%	-0.9%	-7.3%	6.27%	0.88%
FCF per Share	0.79	-0.07	0.68	0.57	-0.49	0.09	0.01	-0.05	0.27	0.49
FCF Conversion (FCF/Net Income)	4.83x	6.34x	-2219.57x	2.37x	0.26x	-0.57x	-0.06x	0.01x	-0.63x	-1.68x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	3.46M	0	10.46M	13.41M	12.03M	11.95M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.2%	2.66%	-0.01%	4.3%	-	-	-15.51%	-20.27%	-12.94%	-8.63%
Return on Invested Capital (ROIC)	5.82%	3.53%	-5.3%	4.56%	-	-	-31.33%	-27.5%	-18.28%	-17.78%
Gross Margin	77.87%	77.66%	78.12%	83.85%	78.85%	78.97%	78.97%	80.77%	82.67%	84.27%
Net Margin	4.09%	2.09%	-0.01%	3.42%	-18.06%	-22.95%	-51.75%	-46.61%	-23.04%	-13.24%
Debt / Equity	1.14x	1.07x	0.93x	0.83x	-	-	-	0.03x	0.03x	0.03x
Interest Coverage	-	-	-2.81x	2.16x	-	-	-	-	-	-
FCF Conversion	4.83x	6.34x	-2219.57x	2.37x	0.26x	-0.57x	-0.06x	0.01x	-0.63x	-1.68x
Revenue Growth	23.42%	5.55%	-6.48%	6.55%	36.34%	44.83%	48.61%	34.22%	19.77%	20.79%

Revenue by Segment

	2021	2022	2023	2024
Professional Services	10.52M	12.68M	13.56M	9.68M
Professional Services Growth	-	20.55%	7.00%	-28.66%
Subscription Services	360.51M	485.32M	582.87M	-
Subscription Services Growth	-	34.62%	20.10%	-

Revenue by Geography

	2021	2022	2023	2024
North America	160.22M	216.11M	266.33M	329.93M
North America Growth	-	34.88%	23.24%	23.88%
EMEA	152.54M	193.9M	229.98M	277.85M
EMEA Growth	-	27.11%	18.61%	20.81%
Asia Pacific	49.93M	74.95M	83.11M	91.44M
Asia Pacific Growth	-	50.10%	10.89%	10.03%
Other	8.32M	13.04M	17.01M	21.19M
Other Growth	-	56.67%	30.44%	24.60%

Frequently Asked Questions

Growth & Financials

Freshworks Inc. (FRSH) reported $810.6M in revenue for fiscal year 2024. This represents a 732% increase from $97.4M in 2014.

Freshworks Inc. (FRSH) grew revenue by 20.8% over the past year. This is strong growth.

Freshworks Inc. (FRSH) reported a net loss of $29.6M for fiscal year 2024.

Dividend & Returns

Freshworks Inc. (FRSH) has a return on equity (ROE) of -8.6%. Negative ROE indicates the company is unprofitable.

Freshworks Inc. (FRSH) generated $208.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Freshworks Inc. (FRSH) 10-Year Financial Performance & Capital Metrics

FRSH • • Industrial / General

TechnologyApplication SoftwareMarketing & Customer EngagementCustomer Analytics

Revenue $720M +20.8%
EBITDA -$119M +24.6%
Net Income -$95M +30.6%
EPS (Diluted) -0.32 +31.9%
Gross Margin 84.27% +1.9%
EBITDA Margin -16.55% +37.6%
Operating Margin -19.24% +32.6%
Net Margin -13.24% +42.6%
ROE -8.63% +33.3%
ROIC -17.78% +2.8%
Debt/Equity 0.03 +22.3%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 20.3% free cash flow margin
✓Strong 5Y sales CAGR of 33.1%

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y22.15%

5Y33.11%

3Y24.76%

TTM18.18%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM70.83%

EPS CAGR

10Y-

5Y-

3Y-

TTM69.89%

ROCE

10Y Avg-10.45%

5Y Avg-20.03%

3Y Avg-15.6%

Latest-11.88%

Peer Comparison

Customer Analytics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GTMZoomInfo Technologies Inc.	3.12B	10.00	125	-2.03%	8.4%	6.8%	9.66%	0.82
UBERUber Technologies, Inc.	175.33B	84.38	18.50	17.96%	33.54%	57.07%	3.93%	0.51
CXMSprinklr, Inc.	1.01B	6.96	15.82	8.74%	13.42%	20.18%	7.09%	0.08
EGANeGain Corporation	283.5M	10.48	9.27	-4.71%	38.19%	41.21%	1.66%	0.05
YMMFull Truck Alliance Co. Ltd.	9.21B	9.80	3.33	33.22%	34.41%	10.5%	31.45%	0.00
AMODAlpha Modus Holdings, Inc.	29.16M	0.70	0.95
LPSNLivePerson, Inc.	38.17M	3.27	-0.14	-22.27%	-51.72%
PSQHPSQ Holdings, Inc.	48.82M	1.05	-0.58	308.01%	-178.95%	-305.78%		1.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	120.21M	126.88M	118.66M	126.43M	172.38M	249.66M	371.02M	498M	596.43M	720.42M
Revenue Growth %	0.23%	0.06%	-0.06%	0.07%	0.36%	0.45%	0.49%	0.34%	0.2%	0.21%
Cost of Goods Sold+	26.6M	28.35M	25.96M	20.41M	36.46M	52.49M	78.03M	95.77M	103.37M	113.33M
COGS % of Revenue	0.22%	0.22%	0.22%	0.16%	0.21%	0.21%	0.21%	0.19%	0.17%	0.16%
Gross Profit+	93.61M	98.54M	92.7M	106.01M	135.91M	197.17M	292.99M	402.23M	493.06M	607.09M
Gross Margin %	0.78%	0.78%	0.78%	0.84%	0.79%	0.79%	0.79%	0.81%	0.83%	0.84%
Gross Profit Growth %	0.2%	0.05%	-0.06%	0.14%	0.28%	0.45%	0.49%	0.37%	0.23%	0.23%
Operating Expenses+	31.57M	31.44M	37.01M	65.97M	165.59M	253.28M	497.77M	635.6M	663.24M	745.7M
OpEx % of Revenue	0.26%	0.25%	0.31%	0.52%	0.96%	1.01%	1.34%	1.28%	1.11%	1.04%
Selling, General & Admin	28.21M	28.11M	33.87M	49.73M	127.03M	184.07M	377.37M	500.06M	525.48M	571.45M
SG&A % of Revenue	0.23%	0.22%	0.29%	0.39%	0.74%	0.74%	1.02%	1%	0.88%	0.79%
Research & Development	0	0	0	0	38.56M	69.21M	120.41M	135.54M	137.76M	164.59M
R&D % of Revenue	-	-	-	-	0.22%	0.28%	0.32%	0.27%	0.23%	0.23%
Other Operating Expenses	3.37M	3.33M	3.14M	16.23M	0	0	0	0	0	9.66M
Operating Income+	15.63M	9.65M	-14.27M	11.27M	-29.67M	-56.11M	-204.78M	-233.37M	-170.17M	-138.61M
Operating Margin %	0.13%	0.08%	-0.12%	0.09%	-0.17%	-0.22%	-0.55%	-0.47%	-0.29%	-0.19%
Operating Income Growth %	0.02%	-0.38%	-2.48%	1.79%	-3.63%	-0.89%	-2.65%	-0.14%	0.27%	0.19%
EBITDA+	25.64M	21.88M	-3.82M	18.51M	-23.41M	-44.94M	-191.49M	-225.06M	-158.03M	-119.19M
EBITDA Margin %	0.21%	0.17%	-0.03%	0.15%	-0.14%	-0.18%	-0.52%	-0.45%	-0.26%	-0.17%
EBITDA Growth %	0.07%	-0.15%	-1.17%	5.85%	-2.26%	-0.92%	-3.26%	-0.18%	0.3%	0.25%
D&A (Non-Cash Add-back)	10M	12.24M	10.45M	7.24M	6.26M	11.17M	13.29M	8.31M	12.14M	19.41M
EBIT	0	0	-14.47M	11.02M	-29.67M	-56.11M	-204.78M	-233.37M	-170.17M	-128.95M
Net Interest Income+	0	0	0	0	1.28M	4.21M	2.45M	14.77M	45.9M	51.7M
Interest Income	0	0	0	0	1.28M	4.21M	2.45M	14.77M	45.9M	51.7M
Interest Expense	0	0	5.08M	5.21M	0	0	0	0	0	0
Other Income/Expense	-9.16M	-5.06M	-5.28M	-5.46M	2.18M	2.83M	23.3M	12.58M	46.4M	47.77M
Pretax Income+	6.48M	4.59M	-19.55M	5.81M	-27.49M	-53.28M	-181.48M	-220.79M	-123.77M	-90.84M
Pretax Margin %	0.05%	0.04%	-0.16%	0.05%	-0.16%	-0.21%	-0.49%	-0.44%	-0.21%	-0.13%
Income Tax+	2.07M	1.94M	-19.54M	1.48M	3.63M	4.01M	10.52M	11.34M	13.67M	4.53M
Effective Tax Rate %	0.76%	0.58%	0%	0.74%	1.13%	1.08%	1.06%	1.05%	1.11%	1.05%
Net Income+	4.91M	2.65M	-7K	4.32M	-31.13M	-57.29M	-192M	-232.13M	-137.44M	-95.37M
Net Margin %	0.04%	0.02%	-0%	0.03%	-0.18%	-0.23%	-0.52%	-0.47%	-0.23%	-0.13%
Net Income Growth %	2.94%	-0.46%	-1%	618.71%	-8.2%	-0.84%	-2.35%	-0.21%	0.41%	0.31%
Net Income (Continuing)	4.91M	2.65M	-7K	4.32M	-31.13M	-57.29M	-192M	-232.13M	-137.44M	-95.37M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.29	0.16	-0.00	0.25	-0.66	-6.40	-10.39	-0.82	-0.47	-0.32
EPS Growth %	1.9%	-0.45%	-1%	-	-3.64%	-8.7%	-0.62%	0.92%	0.43%	0.32%
EPS (Basic)	0.29	0.16	-0.00	0.25	-0.66	-6.40	-10.39	-0.82	-0.47	-0.32
Diluted Shares Outstanding	16.87M	16.77M	16.87M	17M	46.91M	252.9M	275.47M	284.59M	293.09M	300.84M
Basic Shares Outstanding	16.65M	16.74M	16.87M	17M	46.89M	252.9M	275.47M	284.59M	293.09M	300.84M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	18.9M	13.12M	9.35M	12.05M	276.5M	312.4M	1.42B	1.26B	1.36B	1.27B
Cash & Short-Term Investments	6.87M	2.07M	2.17M	5.77M	222.86M	238.12M	1.32B	1.15B	1.19B	1.07B
Cash Only	6.87M	2.07M	2.17M	5.77M	75M	95.38M	747.86M	304.09M	488.12M	620.32M
Short-Term Investments	0	0	0	0	147.86M	142.73M	575.68M	843.4M	699.51M	449.75M
Accounts Receivable	4.94M	5.33M	3.79M	3.56M	24.3M	34.27M	51.76M	73.27M	97.18M	122.91M
Days Sales Outstanding	15.01	15.33	11.65	10.29	51.44	50.1	50.92	53.7	59.47	62.27
Inventory	868K	917K	719K	549K	0	0	0	0	0	0
Days Inventory Outstanding	11.91	11.81	10.11	9.82	-	-	-	-	-	-
Other Current Assets	6.22M	4.8M	2.67M	2.17M	5.45M	9.17M	14.64M	36.11M	70.74M	72.45M
Total Non-Current Assets+	256.57M	260.76M	236.82M	234.67M	45.27M	55.02M	61.44M	123.34M	101.23M	346.46M
Property, Plant & Equipment	21.26M	28.52M	10.06M	4.87M	19.96M	20.78M	21.48M	57.16M	55.5M	62.78M
Fixed Asset Turnover	5.65x	4.45x	11.79x	25.98x	8.64x	12.01x	17.27x	8.71x	10.75x	11.47x
Goodwill	106.51M	108.47M	107.75M	101.76M	4.47M	6.18M	6.18M	6.18M	6.18M	147.01M
Intangible Assets	87M	87M	87M	87M	4.4M	6.22M	1.89M	303K	0	90.84M
Long-Term Investments	143K	57K	0	126.18M	0	0	0	72K	0	0
Other Non-Current Assets	39.28M	31.75M	28.45M	-90.31M	14.37M	17.44M	25.6M	50.94M	29.54M	37.32M
Total Assets+	275.47M	273.87M	246.17M	246.72M	321.77M	367.42M	1.48B	1.38B	1.46B	1.61B
Asset Turnover	0.44x	0.46x	0.48x	0.51x	0.54x	0.68x	0.25x	0.36x	0.41x	0.45x
Asset Growth %	0.03%	-0.01%	-0.1%	0%	0.3%	0.14%	3.04%	-0.07%	0.06%	0.11%
Total Current Liabilities+	24.15M	22.9M	27.85M	32.79M	98.38M	152.24M	223.35M	271.69M	327.21M	407.71M
Accounts Payable	9.8M	6.16M	5.39M	4.77M	3.65M	3.71M	6.32M	5.91M	3.48M	1.62M
Days Payables Outstanding	134.43	79.32	75.78	85.34	36.59	25.8	29.57	22.52	12.31	5.21
Short-Term Debt	2.8M	7.88M	8.4M	11.4M	0	0	0	6.78M	0	0
Deferred Revenue (Current)	1000K	1000K	918K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	9.76M	7.5M	13.14M	14.9M	6.73M	8.98M	21.47M	28.56M	22.27M	3.69M
Current Ratio	0.78x	0.57x	0.34x	0.37x	2.81x	2.05x	6.36x	4.63x	4.14x	3.10x
Quick Ratio	0.75x	0.53x	0.31x	0.35x	2.81x	2.05x	6.36x	4.63x	4.14x	3.10x
Cash Conversion Cycle	-107.51	-52.18	-54.01	-65.23	-	-	-	-	-	-
Total Non-Current Liabilities+	153.67M	149.48M	116.16M	106.11M	1.35B	2.91B	21.43M	56.71M	57.3M	66.25M
Long-Term Debt	108.24M	100.97M	86.99M	70.64M	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	28.17M	26.8M	30.22M
Deferred Tax Liabilities	42.44M	44.18M	24.46M	23.12M	0	0	0	0	0	0
Other Non-Current Liabilities	2.45M	3.92M	3.92M	3.8M	1.35B	2.91B	21.43M	28.53M	30.5M	36.03M
Total Liabilities	177.81M	172.38M	144M	147.7M	1.44B	3.06B	244.77M	328.4M	384.51M	473.96M
Total Debt+	111.04M	108.84M	95.39M	82.04M	0	0	0	34.95M	29.49M	38.29M
Net Debt	104.17M	106.78M	93.22M	76.28M	-75M	-95.38M	-747.86M	-269.14M	-458.63M	-582.02M
Debt / Equity	1.14x	1.07x	0.93x	0.83x	-	-	-	0.03x	0.03x	0.03x
Debt / EBITDA	4.33x	4.97x	-	4.43x	-	-	-	-	-	-
Net Debt / EBITDA	4.06x	4.88x	-	4.12x	-	-	-	-	-	-
Interest Coverage	-	-	-2.81x	2.16x	-	-	-	-	-	-
Total Equity+	97.66M	101.5M	102.17M	99.02M	-1.12B	-2.7B	1.24B	1.05B	1.07B	1.14B
Equity Growth %	0.07%	0.04%	0.01%	-0.03%	-12.34%	-1.4%	1.46%	-0.15%	0.02%	0.06%
Book Value per Share	5.79	6.05	6.06	5.82	-23.93	-10.66	4.49	3.70	3.66	3.78
Total Shareholders' Equity	97.66M	101.5M	102.17M	99.02M	-1.12B	-2.7B	1.24B	1.05B	1.07B	1.14B
Common Stock	169K	170K	170K	170K	1K	1K	3K	3K	3K	3K
Retained Earnings	-21.21M	-18.61M	-18.61M	-22.32M	-1.12B	-2.7B	-3.27B	-3.5B	-3.64B	-3.74B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	139K	411K	-747K	-7.43M	-754K	-338K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	23.74M	16.8M	15.54M	10.24M	-8.16M	32.53M	11.46M	-2.52M	86.18M	160.65M
Operating CF Margin %	0.2%	0.13%	0.13%	0.08%	-0.05%	0.13%	0.03%	-0.01%	0.14%	0.22%
Operating CF Growth %	0.53%	-0.29%	-0.08%	-0.34%	-1.8%	4.98%	-0.65%	-1.22%	35.13%	0.86%
Net Income	4.91M	2.65M	-7K	4.32M	-31.13M	-57.29M	-192M	-232.13M	-137.44M	-95.37M
Depreciation & Amortization	10M	12.24M	10.45M	7.24M	6.26M	11.17M	13.29M	11.5M	12.14M	19.41M
Stock-Based Compensation	1.08M	898K	687K	495K	273K	0	173.44M	207.7M	210.71M	216.71M
Deferred Taxes	1.71M	1.72M	-19.72M	1.3M	-939K	-2.36M	-1.91M	-2.4M	-1.32M	-12.64M
Other Non-Cash Items	9.07M	3.83M	32.84M	-875K	3.65M	52.09M	-9.39M	23.92M	16.17M	22.8M
Working Capital Changes	-3.02M	-4.53M	-8.71M	-2.24M	13.72M	28.92M	28.02M	-11.1M	-14.08M	9.73M
Change in Receivables	0	-522K	1.54M	238K	-9.37M	-9.93M	-17.51M	-18.89M	-26.98M	-17.14M
Change in Inventory	0	6.88M	9.03M	19.46M	0	0	0	0	0	0
Change in Payables	3.63M	-1.1M	-783K	-1.21M	2.67M	53K	1.99M	77K	-2.42M	-2.2M
Cash from Investing+	-19.55M	-19.39M	-1.65M	6.99M	-148.95M	-11.43M	-420.3M	-284.83M	158.5M	38.8M
Capital Expenditures	-10.43M	-18.01M	-3.99M	-576K	-11.51M	-10.76M	-5.57M	-12.24M	-2.07M	-9.18M
CapEx % of Revenue	0.09%	0.14%	0.03%	0%	0.07%	0.04%	0.01%	0.02%	0%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.08M	1.27M	2.34M	7.72M	-3.32M	0	-2.93M	0	-6.16M	-5.21M
Cash from Financing+	-2.38M	-2.21M	-13.78M	-13.63M	150.23M	-1.91M	1.06B	-156.35M	-60.62M	-67.26M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.38M	-2.21M	-13.78M	-13.63M	412K	-2.15M	-10.98M	-167.22M	-67.98M	-53.57M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	13.31M	-1.21M	11.55M	9.66M	-22.99M	23.52M	2.34M	-14.77M	77.84M	145.98M
FCF Margin %	0.11%	-0.01%	0.1%	0.08%	-0.13%	0.09%	0.01%	-0.03%	0.13%	0.2%
FCF Growth %	0.16%	-1.09%	10.58%	-0.16%	-3.38%	2.02%	-0.9%	-7.3%	6.27%	0.88%
FCF per Share	0.79	-0.07	0.68	0.57	-0.49	0.09	0.01	-0.05	0.27	0.49
FCF Conversion (FCF/Net Income)	4.83x	6.34x	-2219.57x	2.37x	0.26x	-0.57x	-0.06x	0.01x	-0.63x	-1.68x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	3.46M	0	10.46M	13.41M	12.03M	11.95M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.2%	2.66%	-0.01%	4.3%	-	-	-15.51%	-20.27%	-12.94%	-8.63%
Return on Invested Capital (ROIC)	5.82%	3.53%	-5.3%	4.56%	-	-	-31.33%	-27.5%	-18.28%	-17.78%
Gross Margin	77.87%	77.66%	78.12%	83.85%	78.85%	78.97%	78.97%	80.77%	82.67%	84.27%
Net Margin	4.09%	2.09%	-0.01%	3.42%	-18.06%	-22.95%	-51.75%	-46.61%	-23.04%	-13.24%
Debt / Equity	1.14x	1.07x	0.93x	0.83x	-	-	-	0.03x	0.03x	0.03x
Interest Coverage	-	-	-2.81x	2.16x	-	-	-	-	-	-
FCF Conversion	4.83x	6.34x	-2219.57x	2.37x	0.26x	-0.57x	-0.06x	0.01x	-0.63x	-1.68x
Revenue Growth	23.42%	5.55%	-6.48%	6.55%	36.34%	44.83%	48.61%	34.22%	19.77%	20.79%

Revenue by Segment

	2021	2022	2023	2024
Professional Services	10.52M	12.68M	13.56M	9.68M
Professional Services Growth	-	20.55%	7.00%	-28.66%
Subscription Services	360.51M	485.32M	582.87M	-
Subscription Services Growth	-	34.62%	20.10%	-

Revenue by Geography

	2021	2022	2023	2024
North America	160.22M	216.11M	266.33M	329.93M
North America Growth	-	34.88%	23.24%	23.88%
EMEA	152.54M	193.9M	229.98M	277.85M
EMEA Growth	-	27.11%	18.61%	20.81%
Asia Pacific	49.93M	74.95M	83.11M	91.44M
Asia Pacific Growth	-	50.10%	10.89%	10.03%
Other	8.32M	13.04M	17.01M	21.19M
Other Growth	-	56.67%	30.44%	24.60%

Frequently Asked Questions

Growth & Financials

Freshworks Inc. (FRSH) reported $810.6M in revenue for fiscal year 2024. This represents a 732% increase from $97.4M in 2014.

Freshworks Inc. (FRSH) grew revenue by 20.8% over the past year. This is strong growth.

Freshworks Inc. (FRSH) reported a net loss of $29.6M for fiscal year 2024.

Dividend & Returns

Freshworks Inc. (FRSH) has a return on equity (ROE) of -8.6%. Negative ROE indicates the company is unprofitable.

Freshworks Inc. (FRSH) generated $208.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.