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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.
Freshworks
Freshworks
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.
- Actual results may differ materially from those expressed in the forward-looking statements.