FRSH Latest Report

Financial Performance

Freshworks' total operating revenue reached $194,571,000 as of December 31, 2024, up 21.49% from $160,111,000 as of December 31, 2023. This growth indicates a significant improvement in the company's operating revenue, possibly reflecting increased market demand or enhanced competitiveness of its products.

Key Financial Data

1. Freshworks' total operating revenue in 2024 reached $194,571,000, up 21.49% YoY, showing good revenue growth.

2. The company's cumulative revenue in the first three quarters of 2024 was $526 million, up 20.52% YoY.

3. About 36% of the customer base purchased two or more products, providing further expansion opportunities.

4. About 3,053 customers contributed more than $50,000 in revenue annually as of December 31, 2024, up 22% YoY.

Peer Comparison

1. Industry-wide analysis: In the software and services industry, overall operating revenue is generally driven by digital transformation and growing cloud computing demand, and revenue growth is expected to continue with a good trend. According to the Ministry of Industry and Information Technology, the revenue of software business grew 10.7% YoY in the first eleven months of 2024.

2. Peer evaluation analysis: Freshworks' 21.49% operating revenue growth is in the middle and upper levels of the industry, showing its good performance in competition. Compared with peers like Salesforce and ServiceNow, Freshworks' growth rate reflects its competitive advantages in specific markets or product lines.

Summary

Freshworks' operating revenue growth reflects the rise in market demand and the competitiveness of its products. Through effective marketing and customer relationship management, Freshworks successfully expanded its customer base, which to some extent drives revenue growth. In line with the overall industry trend, Freshworks performed well in the market environment of accelerated digital transformation.

Opportunities

1. With the increasing demand for digital solutions, Freshworks has the opportunity to continue expanding its market share.

2. The diversification of its product portfolio allows Freshworks to cross-sell and enhance the lifetime value of its customers.

3. New products or services that may be introduced in the future will create new revenue streams for the company.

Risks

1. Uncertainty in the macroeconomic environment may negatively impact overall market demand.

2. Intensified competition may lead to a loss of market share, especially in the context of new entrants and existing competitors' continuous innovation.

3. The increased reliance of customers on the company's products and services may lead to a risk of significant revenue fluctuations when customers leave.