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Mar 31, 2022
Freshworks Q1 2022 Earnings Report
Freshworks' Q1 2022 earnings showcased strong revenue growth and business efficiency.
Key Takeaways
Freshworks reported a strong start to the year with Q1 revenue growth of 42% year-over-year. The company launched Freshworks CRM for e-commerce, increased net dollar retention to 115%, and maintained business efficiency with $1.4 million in net cash from operating activities.
Total revenue was $114.6 million, representing 42% growth year-over-year.
Net dollar retention rate increased to 115%, up 1 percentage point quarter-over-quarter.
Net cash provided by operating activities was $1.4 million.
The number of customers contributing more than $5,000 in ARR increased by 27% year-over-year to 15,639.
Freshworks
Freshworks
Forward Guidance
Freshworks provided estimates for the second quarter and full year 2022 based on current market conditions and expectations.
Positive Outlook
- Second Quarter 2022 Total revenue of $117.0 million - $119.0 million
- Second Quarter 2022 Non-GAAP loss from operations of $18.5 million - $16.5 million
- Second Quarter 2022 Non-GAAP net loss per share of $0.08 - $0.06
- Full Year 2022 Total revenue of $495.5 million - $501.5 million
- Full Year 2022 Non-GAAP loss from operations of $43.5 million - $37.5 million
Challenges Ahead
- Second Quarter 2022 Non-GAAP loss from operations of $18.5 million - $16.5 million
- Second Quarter 2022 Non-GAAP net loss per share of $0.08 - $0.06
- Full Year 2022 Non-GAAP loss from operations of $43.5 million - $37.5 million
- Full Year 2022 Non-GAAP net loss per share of $0.18 - $0.16
- These estimates are subject to various important cautionary factors referenced in the section entitled “Forward-Looking Statements”