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Sep 30, 2021
Freshworks Q3 2021 Earnings Report
Freshworks reported strong results driven by continued adoption of its products and healthy expansion activity.
Key Takeaways
Freshworks reported a 46% year-over-year increase in total revenue, reaching $96.6 million for the third quarter of 2021. The company's net dollar retention rate was 117%, and they completed their initial public offering.
Total revenue grew 46% year-over-year.
Net dollar retention rate was 117%, up 8 percentage points year-over-year.
Completed an Initial Public Offering and listed as FRSH on NASDAQ.
Welcomed new customers including Double Diamond Resorts, ForgeRock, Hunter College NY, and more.
Freshworks
Freshworks
Forward Guidance
Freshworks provided estimates for the fourth quarter and full year 2021 based on current market conditions and expectations.
Positive Outlook
- Fourth Quarter 2021 Total revenue of $99.0 million - $101.0 million
- Fourth Quarter 2021 Non-GAAP loss from operations of $13.5 million - $11.5 million
- Fourth Quarter 2021 Non-GAAP net loss per share of $0.07 - $0.05
- Full Year 2021 Total revenue of $364.5 million - $366.5 million
- Full Year 2021 Non-GAAP loss from operations of $21.0 million - $19.0 million
Challenges Ahead
- Fourth Quarter 2021 Non-GAAP loss from operations of $13.5 million - $11.5 million
- Fourth Quarter 2021 Non-GAAP net loss per share of $0.07 - $0.05
- Full Year 2021 Non-GAAP loss from operations of $21.0 million - $19.0 million
- Full Year 2021 Non-GAAP net loss per share of $0.22 - $0.20
- Estimates are subject to risks and uncertainties associated with the ongoing COVID-19 pandemic.