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Jun 30, 2024
Freshworks Q2 2024 Earnings Report
Freshworks' Q2 2024 revenue grew to $174.1 million with a free cash flow margin of 19%.
Key Takeaways
Freshworks delivered a solid Q2, with revenue growing to $174.1 million and a free cash flow margin of 19%. The results reflect increasing financial discipline and the ability to meet customer needs with AI-powered solutions.
Total revenue was $174.1 million, representing growth of 20% compared to the second quarter of 2023.
Non-GAAP income from operations was $13.1 million, compared to $11.7 million in the second quarter of 2023.
Free cash flow was $32.8 million, compared to $18.1 million in the second quarter of 2023.
The number of customers contributing more than $5,000 in ARR was 21,744, an increase of 14% year-over-year.
Forward Guidance
Freshworks is providing estimates for the third quarter and full year 2024 based on current market conditions and expectations. Revenue for Q3 2024 is expected to be between $180.0 - $183.0 million and Non-GAAP net income per share is expected to be $0.07 - $0.08. Revenue for full year 2024 is expected to be between $707.0 - $713.0 million and Non-GAAP net income per share is expected to be $0.32 - $0.34.
Positive Outlook
- Revenue for Q3 2024 is expected to be between $180.0 - $183.0 million.
- Year-over-year growth for Q3 2024 is expected to be 17% - 19%.
- Non-GAAP income from operations for Q3 2024 is expected to be $13.0 - $15.0 million.
- Non-GAAP net income per share for Q3 2024 is expected to be $0.07 - $0.08.
- Revenue for full year 2024 is expected to be between $707.0 - $713.0 million.
Challenges Ahead
- Estimates are subject to various important cautionary factors.
- Actual results may differ materially from these forward-looking statements.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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