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Jun 30, 2023
Freshworks Q2 2023 Earnings Report
Freshworks' Q2 2023 financial results were announced, demonstrating revenue growth and improved efficiency.
Key Takeaways
Freshworks reported a 19% year-over-year revenue increase in Q2 2023, reaching $145.1 million. The company also improved business efficiency, generating $18.1 million in free cash flow. The full-year 2023 financial outlook was raised for non-GAAP operating profit to $28 million at the midpoint.
Total revenue was $145.1 million, a 19% increase compared to Q2 2022.
GAAP loss from operations was $(43.3) million, an improvement from $(67.4) million in Q2 2022.
Non-GAAP income from operations was $11.7 million, compared to a non-GAAP loss of $(15.8) million in Q2 2022.
Free cash flow was $18.1 million, compared to $(10.2) million in Q2 2022.
Freshworks
Freshworks
Forward Guidance
Freshworks provided estimates for the third quarter and full year 2023 based on current market conditions and expectations.
Positive Outlook
- Third quarter revenue is expected to be between $149.0 million and $151.5 million.
- Full year revenue is expected to be between $587.0 million and $595.0 million.
- Third quarter year-over-year growth is expected to be between 16% and 18%.
- Full year year-over-year growth is expected to be between 18% and 19%.
- Full year non-GAAP net income per share is expected to be $0.18 - $0.22