Freshworks Inc., founded in 2010 and headquartered in San Mateo, California, United States, is a leading provider of cloud-based customer engagement and IT service management software. The company’s subscription-based model drives recurring revenues with flagship products like Freshdesk, Freshservice, and Freshsales. Led by CEO Girish Mathrubootham, Freshworks has grown its customer base to over 50,000 while competing with firms such as Zendesk and ServiceNow. Strategic investments in AI and international expansion continue to fuel its future growth.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
838,809
720,420
596,432
497,999
Cost of Sales
126,145
113,330
103,369
95,772
Gross Profit
712,664
607,090
493,063
402,227
Selling, General & Administrative Expenses
535,846
571,446
525,479
500,056
Research & Development Expenses
163,208
164,590
137,756
135,543
Other Operating Expenses
405
9,664
—
—
Operating Profit
13,205
(138,610)
(170,172)
(233,372)
Non-Operating Income
40,077
47,773
46,403
12,582
Total Non-Operating Income
40,077
47,773
46,403
12,582
Income Before Provision for Income Taxes
53,282
(90,837)
(123,769)
(220,790)
Provision for Income Taxes
(130,441)
4,531
13,667
11,342
Consolidated Net Income
183,723
(95,368)
(137,436)
(232,132)
Net Income Attributable to Common Shareholders
183,723
(95,368)
(137,436)
(232,132)
Basic EPS
0.63
-0.32
-0.47
-0.82
Diluted EPS
0.63
-0.32
-0.47
-0.82
Basic Weighted Average Shares Outstanding
291,079
300,843
293,087
284,587
Diluted Weighted Average Shares Outstanding
293,769
300,843
293,087
284,587
Shares Outstanding
283,427
303,382
296,695
289,093
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
569,774
620,315
488,121
304,083
Short-Term Investments
211,597
449,750
699,506
843,405
Total Cash and Cash Equivalents
781,371
1,070,070
1,187,630
1,147,490
Accounts Receivable
150,817
122,910
97,179
70,470
Total Trade Receivables
150,817
122,910
97,179
70,470
Other Current Assets
164,978
72,452
70,740
59,052
Total Current Assets
1,097,170
1,265,430
1,355,550
1,277,010
Net Property, Plant & Equipment
78,736
62,784
55,496
57,163
Net Intangible Assets
76,986
90,840
—
—
Goodwill
146,676
147,014
6,181
6,181
Other Long-Term Assets
203,148
45,819
39,549
39,862
Total Assets
1,602,710
1,611,880
1,456,770
1,380,220
Accounts Payable
11,507
1,619
3,485
5,908
Accrued Expenses
97,631
81,933
56,608
59,008
Unearned Revenue
385,320
323,435
266,399
205,626
Other Current Liabilities
3,571
728
722
1,150
Total Current Liabilities
498,029
407,715
327,214
271,692
Leases
33,282
30,221
26,795
28,174
Other Long-Term Liabilities
38,751
36,027
30,501
28,532
Total Long-Term Liabilities
72,033
66,248
57,296
56,706
Total Liabilities
570,062
473,963
384,510
328,398
Common Stock
3
3
3
3
Additional Paid-in Capital
4,586,390
4,874,130
4,713,520
4,562,320
Accumulated Other Comprehensive Income
(1,591)
(338)
(754)
(7,431)
Retained Earnings
(3,552,150)
(3,735,880)
(3,640,510)
(3,503,070)
Total Common Shareholders' Equity
1,032,650
1,137,920
1,072,260
1,051,820
Total Shareholders' Equity
1,032,650
1,137,920
1,072,260
1,051,820
Total Liabilities and Shareholders' Equity
1,602,710
1,611,880
1,456,770
1,380,220
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
183,723
(95,368)
(137,436)
(232,132)
Depreciation & Amortization
57,559
47,971
36,109
30,036
Share-Based Compensation Expense
146,819
216,706
210,707
207,696
Other Adjustments
(147,016)
(18,395)
(9,119)
2,979
Changes in Trade Receivables
(28,059)
(17,145)
(26,982)
(18,892)
Changes in Accounts Payable
9,573
(2,204)
(2,423)
77
Changes in Accrued Expenses
19,078
14,454
1,839
7,746
Changes in Unearned Revenue
61,179
54,808
60,773
45,453
Changes in Other Operating Activities
(60,486)
(40,181)
(47,290)
(45,488)
Cash from Operating Activities
242,370
160,646
86,178
(2,525)
Capital Expenditure
(5,700)
(9,177)
(2,069)
(7,129)
Proceeds from Sale of Property, Plant & Equipment
149
279
110
137
Purchases of Intangible Assets
(15,791)
(5,485)
(6,271)
(5,116)
Purchases of Investments
(586,833)
(620,573)
(842,803)
(848,560)
Proceeds from Sale of Investments
832,740
887,664
1,009,530
575,841
Payments for Business Acquisitions
(18,432)
(213,905)
—
—
Cash from Investing Activities
206,133
38,803
158,499
(284,827)
Issuance of Common Shares
6,302
6,732
7,359
10,979
Repurchases of Common Shares
(442,960)
(73,992)
(67,978)
(167,224)
Net Issuance / (Repurchases) of Common Shares
(436,658)
(67,260)
(60,619)
(156,245)
Other Financing Activities
—
—
—
(109)
Cash from Financing Activities
(436,658)
(67,260)
(60,619)
(156,354)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash