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Freshworks cuts losses by 14% in Q2; eyes $713 Mn revenue in CY24

EntrackrEntrackr ยท 11m ago
Freshworks cuts losses by 14% in Q2; eyes $713 Mn revenue in CY24
Medial

SaaS firm Freshworks registered a 5.5% growth quarter-on-quarter in the second quarter of the calendar year. Meanwhile, the company managed to narrow its losses by 13.7% during the same period. Freshworks operating revenue grew to $174.1 million in the quarter ending June 2024 from $165.1 million in Q1 CYFY24, its regulatory filing accessed from NASDAQ shows. Freshworks provides marketing, sales, support, and IT solutions through a portfolio of products: Freshservice, Freshdesk, Freshmarketer, Freshchat, and Freshsales to global companies. Freshworks acquired Device42 for $230 million in June this year. Consequently, Device42โ€™s revenue will be included in Freshworksโ€™ financials for the upcoming third quarter (Q3). Moving over to the cost side, Freshworksโ€™s sales and marketing formed 50% of the overall expenditure which increased by 18.5% to $104.2 in Q2 CY24. The companyโ€™s spending on research, employees, and general overhead took the overall cost to $207.4 million in Q2 CY24. The decent increase in growth and controlled cost mechanism helped Freshworks to reduce its losses by 13.7% to $20.1 million in Q2 CY24 from $23.3 million in Q1 CY24. Freshworks said that it aims to achieve approximately $180-183 million in revenue for the third quarter of CY 2024. It targets to reach $707-713 million in revenue for the full year ending December 2024. In May, Freshworks founder Girish Mathrubootham stepped down from the position of chief executive officer. While Mathrubootham took the role of executive chairman, the companyโ€™s president Dennis Woodside was elevated as the new CEO.

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Freshworks posts $194.6 Mn revenue in Q4, projects $809 Mn for CY25

EntrackrEntrackr ยท 4m ago
Freshworks posts $194.6 Mn revenue in Q4, projects $809 Mn for CY25
Medial

Freshworks posts $194.6 Mn revenue in Q4, projects $809 Mn for CY25. SaaS firm Freshworks registered a 21.6% year-on-year growth in the fourth quarter of the last calendar year (2024). Meanwhile, the company narrowed its losses by 21.8% during the same period. Freshworks operating revenue grew to $194.5 million in the quarter ending December 2024 from $160 million in Q4 CYFY23, its regulatory filing accessed from NASDAQ shows. Moving over to the cost side, Freshworksโ€™s sales and marketing formed 46% of the overall expenditure which modestly increased by 1.8% to $90.6 million in Q4 CY24. The companyโ€™s spending on research, employees, and general overhead took the overall cost to $216.4 million in Q4 CY24. The decent increase in growth and controlled cost mechanism helped Freshworks to reduce its losses by 21.8% to $21.9 million in Q4 CY24 from $28 million in Q4 CY23. The company anticipates generating revenue between $190 million and $193 million in the first quarter of CY25, with total annual revenue projected to reach $809 million for the full year.

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

EntrackrEntrackr ยท 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. โ€œFreshworks 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%,โ€ 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, Freshworksโ€™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 companyโ€™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.

Spotify's monthly user numbers miss estimates on lower promotions

Economic TimesEconomic Times ยท 1y ago
Spotify's monthly user numbers miss estimates on lower promotions
Medial

Swedish company Spotify reported Q1 results, with monthly active users (MAU) below its own estimates. Although MAUs increased by 19%, it fell short of Spotify's guidance and analysts' expectations. The company also projected Q2 MAUs at 631 million, missing estimates. Despite this, premium subscribers, who are the main source of revenue, grew by 14% to 239 million, in line with estimates. Spotify has been cutting costs, including through layoffs and reduced marketing expenses, to focus on increasing profits. Gross margins rose to 27.6% in Q1, aided by higher profits in the podcast business. Spotify's revenue for the quarter reached 3.64 billion euros ($3.89 billion), exceeding estimates. The company expects revenue to reach 3.8 billion euros in Q2.

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