Freshworks Narrows Q4 Losses, Revenue Up 22% | Tech News
Freshworks reported a narrowed loss of USD 21.9 million in Q4 2024, with revenue rising 22% to USD 194.6 million. The SaaS provider also announced new customer wins and leadership appointments.
New Delhi, Feb 13 (PTI) Nasdaq-listed IT services provider Freshworks has reported narrowing of losses to USD 21.9 million in the October-December quarter of 2024.
It had posted a loss of USD 28 million in the year-ago period, according to a regulatory filing.
Total revenue for the fourth quarter of 2024 was USD 194.6 million, a 21.6 per cent increase, from USD 160 million in Q4 CY23.
During the quarter, the California-headquartered firm appointed Srinivasan Raghavan as Chief Product Officer and Venkitesh Subramanian as Senior Vice President of Product Management, Customer Experience.
It onboarded new customers like New Balance, Rawlings Sporting Goods, Sophos, Onfido, and Mesa Airlines, among others.
"Freshworks outperformed its previously provided estimates again in Q4 across all our key metrics... Companies are leaving legacy vendors and coming to Freshworks for our uncomplicated, modern employee and customer experience service solutions," said Dennis Woodside, CEO and President, Freshworks.
For the full year, losses came down to USD 95.3 million in 2024, as compared to USD 137.4 million in 2023.
Revenue rose 20.7 per cent annually to USD 720.4 million.
It gave revenue guidance in the range of USD 809 million to USD 821 million for 2025.
For the first quarter of 2025, it expects revenues between USD 190 million and USD 193 million.
A provider of SaaS (software-as-a-service) solutions, Freshworks serves over 72,000 businesses across more than 120 countries. Some notable customers include DMart, Paytm, Myntra, Ather, Flipkart, Cred, Databricks, Thomas Cook, Tata Digital, and Tata Consumer Products.
It had posted a loss of USD 28 million in the year-ago period, according to a regulatory filing.
Total revenue for the fourth quarter of 2024 was USD 194.6 million, a 21.6 per cent increase, from USD 160 million in Q4 CY23.
During the quarter, the California-headquartered firm appointed Srinivasan Raghavan as Chief Product Officer and Venkitesh Subramanian as Senior Vice President of Product Management, Customer Experience.
It onboarded new customers like New Balance, Rawlings Sporting Goods, Sophos, Onfido, and Mesa Airlines, among others.
"Freshworks outperformed its previously provided estimates again in Q4 across all our key metrics... Companies are leaving legacy vendors and coming to Freshworks for our uncomplicated, modern employee and customer experience service solutions," said Dennis Woodside, CEO and President, Freshworks.
For the full year, losses came down to USD 95.3 million in 2024, as compared to USD 137.4 million in 2023.
Revenue rose 20.7 per cent annually to USD 720.4 million.
It gave revenue guidance in the range of USD 809 million to USD 821 million for 2025.
For the first quarter of 2025, it expects revenues between USD 190 million and USD 193 million.
A provider of SaaS (software-as-a-service) solutions, Freshworks serves over 72,000 businesses across more than 120 countries. Some notable customers include DMart, Paytm, Myntra, Ather, Flipkart, Cred, Databricks, Thomas Cook, Tata Digital, and Tata Consumer Products.
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