Freshworks registers a revenue of $96.6M with 46 pc growth in Q3; targets close to $101M in Q4

In a press conference, Girish Mathrubootham, Founder and CEO, Freshworks announced that it has seen a 46 percent growth this quarter.
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“It has been seven weeks since our IPO. And it’s been an exciting ride since then,” said Girish Mathrubootham, Founder and CEO, Freshworks, addressing the first press meet since the company listed on NASDAQ in early September. 

He added that Freshworks has announced the opening of their offices since November 1st, 2021.

“As a company we are continuing to grow, we finished our first quarter at a 46 percent growth, we had revenues of $96.6 million, marking a 6 percent beat from the consensus that the analysts had,” said Girish addressing the press. 

He added that Freshworks also displayed a strong net dollar retention of 117 percent, and a beat on their earnings.

“We now have more than 14,000 customers who pay us over $5000 dollars in annual recurring revenue. We have disclosed this as a key operating metric as a public company, and that number grew 31 percent, ” said Girish. 

He added that the company had revenue and earnings coming in ahead of expectations. Freshworks also announced the guidance for Q4, expecting a revenue of $99 million to $100 million. 

“We have focussed on putting our heads down and continuing the execution. From a customer standpoint, we added customers across a wide spectrum of industries, right from Fortune500 companies like Philips and Toyota to educational institutions like the University of Aberdeen. We had the Smashburger restaurant chain, headquartered in Denver, and a global fashion retailer from Amsterdam,” said Girish. 

He further said that a customer base in the form of companies of all sizes truly reflects the fact that Freshworks is catering to companies of all sizes across the globe. 

A few days back, Freshworks had stated it would offer 13.55 million shares of Class A common stock, at par value of $0.00001 per share to some of its stock holders from time to time. These include - directors, executives, current and former employees, stock holders and contractors. 

Edited by Anju Narayanan

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