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Freshworks posts $196 Mn revenue in Q1 CY25, cuts op-losses by 67%

EntrackrEntrackr · 2m ago
Freshworks posts $196 Mn revenue in Q1 CY25, cuts op-losses by 67%
Medial

Freshworks posts $196 Mn revenue in Q1 CY25, cuts op-losses by 67% Freshworks operating revenue grew to $196.2 million in the quarter ending March 2025 from $165.1 million in Q1 CYFY24, its regulatory filing accessed from NASDAQ shows. SaaS firm Freshworks registered a 19% year-on-year growth in the first quarter of the ongoing calendar year (2025). Meanwhile, the company narrowed its losses from operations by 67.7% during the same period. “Freshworks delivered a strong first quarter, surpassing our earlier financial projections with revenue rising 19% year-over-year to $196.3 million. We also achieved an operating cash flow margin of 30% and an adjusted free cash flow margin of 28%,” said Dennis Woodside, Chief Executive Officer and President of Freshworks. The company registered a 20.8% year-on-year growth during the full year, raising its scale from $596 million in CY23 to $720 million in CY24. Freshworks provides marketing, sales, support, and IT solutions through a portfolio of products: Freshservice, Freshdesk, Freshmarketer, Freshchat, and Freshsales to global companies. Moving over to the cost side, Freshworks’s sales and marketing formed 43% of the overall expenditure, which saw a decline of 5.8% to $89.1 million in Q1 CY25. The company’s spending on research, employees, and general overhead took the overall cost to $207.6 million in Q1 CY25. The decent increase in growth and controlled cost mechanism helped Freshworks reduce its losses from operations by 67.7% to $10.4 million in Q1 CY25 from $32.1 million in Q1 CYFY24. The company anticipates generating revenue between $197.3 million and $200.3 million in the second quarter of CY25, with total annual revenue projected to reach $824 million for the full year. During the last quarter of its previous financial year (Q4 CY24), Freshworks reduced the workforce by 13% to streamline its operations. The firm also announced a $400 million stock buyback program.

Flipkart announces new ESOP liquidity worth $50 Mn

EntrackrEntrackr · 5d ago
Flipkart announces new ESOP liquidity worth $50 Mn
Medial

Flipkart announces new ESOP liquidity worth $50 Mn This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Flipkart has announced a fresh ESOP (Employee Stock Option Plan) liquidity opportunity for its employees, according to an internal note from the company’s chief executive officer Kalyan Krishnamurthy. As per the note, eligible employees will be allowed to liquidate up to 5% of their vested ESOPs as of July 5, 2025, at a buyback price of $174.32 per option. Payouts will be made in August 2025 under the Flipkart Stock Option Plan 2012. An ET report estimates the size of the ESOP buyback at $50 million, with 7,000 to 7,500 employees expected to benefit from the liquidity program. Flipkart is currently valued at around $36 billion. Krishnamurthy also added that if key performance goals are met by the end of 2025, another 5% liquidity window could open in early 2026. A Flipkart spokesperson confirmed the development to Entrackr. This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Media reports indicate the firm plans to launch its IPO with a valuation of $60-$70 billion. The company’s board has already approved the process to shift its holding structure from Singapore to India. In 2025, a clutch of startups including Darwinbox, Rapido, Univest, Deserve, and Even Healthcare have implemented ESOP buyback, liquidity, and payout programs worth around $67 million. In 2024, more than 20 startups implemented $200 million. According to startup data intelligence platform TheKredible, the ESOP buyback or liquidity amount stood at $802 million in 2023, $440 million in 2021, and $200 million in 2022.

Pocket FM completes its first ESOP buyback worth $8.3 Mn

EntrackrEntrackr · 1y ago
Pocket FM completes its first ESOP buyback worth $8.3 Mn
Medial

Audio series platform Pocket FM announced that the company has completed its first ESOP buyback worth $8.3 million. The buyback of stock comes soon after $103 million Series D funding announced by the Bengaluru-based company. Former and existing employees, holding vested stocks in the company, participated in this process, the company said in a press release. The company was valued at $750 million during the latest fundraise and has been growing at a high speed. According to PocketFM, it surpassed $150 million (Rs 1,250 crore) ARR, and is growing at 57% QoQ. In 2023, it processed over 20 million transactions and claimed that its US revenue crossed $100 million in average revenue run rate (ARR) during the last calendar year. The buyback has come at a time when Pocket FM is reportedly in late-stage conversation to raise a new round which would catapult it to the unicorn club. Pocket FM is the fourth growth stage company that has announced stock buyback in 2024. Recently, e-commerce company Meesho rolled out its largest ESOP buyback worth $25 million for 1,700 employees (past and current). Community management app MyGate and edtech company Classplus also announced their employee stock buyback program earlier this year. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. Pocket FM claims 2,000 exclusive audio series and more than 400,000 episodes across genres and languages. While the company’s real financial picture could be decoded when it discloses full-fledged FY24 results, Pocket FM’s revenue zoomed 8X to Rs 148.7 crore in the fiscal year ending March 2023. The firm also improved unit economics and reduced its losses by about three-fourths in the last fiscal year.

Sridhar Vembu slams Freshworks layoffs; says cash-rich company can't expect employee loyalty if it prioritises shareholder buyback

YourStoryYourStory · 8m ago
Sridhar Vembu slams Freshworks layoffs; says cash-rich company can't expect employee loyalty if it prioritises shareholder buyback
Medial

Zoho Corporation founder, Sridhar Vembu, criticized Freshworks for laying off employees while prioritizing shareholder buybacks. In a post, Vembu argued that a cash-rich company with $1 billion in cash and positive growth should not expect loyalty from employees when they are letting go of staff members and spending $400 million on stock buybacks. Although Vembu didn't explicitly mention Freshworks, his comments came shortly after the company announced a reduction in its workforce by around 13% and approved a stock repurchase program. He also expressed concern about US corporations prioritizing shareholder value over employee well-being.

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