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Dec 31, 2023
Freshworks Q4 2023 Earnings Report
Freshworks delivered a strong finish to the year, outperforming financial estimates and improving business efficiency.
Key Takeaways
Freshworks Inc. reported a 20% year-over-year increase in revenue for both the fourth quarter and full year 2023. The company's Q4 revenue reached $160.1 million, and it generated $28.6 million in free cash flow during the quarter and $77.8 million for the full year.
Q4 revenue grew 20% year-over-year, reaching $160.1 million.
GAAP loss from operations improved to $(40.0) million, compared to $(60.6) million in Q4 2022.
Non-GAAP income from operations was $11.5 million, compared to a non-GAAP loss of $(2.8) million in Q4 2022.
Free cash flow for the quarter was $28.6 million, compared to $4.0 million in Q4 2022.
Forward Guidance
Freshworks provides estimates for Q1 and full year 2024, based on current market conditions. Revenue growth rates are adjusted for constant currency.
Positive Outlook
- Q1 2024 Revenue: $162.5 - $164.5 million
- Q1 2024 Year-over-year growth: 18% - 19%
- Q1 2024 Non-GAAP income from operations: $12.5 - $14.5 million
- Q1 2024 Non-GAAP net income per share: $0.07 - $0.08
- Full Year 2024 Non-GAAP net income per share: $0.29 - $0.31
Challenges Ahead
- Estimates are subject to various important cautionary factors.
- The company has not reconciled estimates for non-GAAP financial measures to GAAP due to the uncertainty and potential variability of expenses.
- A reconciliation is not available without unreasonable effort.
- The forward-looking statements are based on current expectations, estimates and projections.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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