Freshworks reports fourth quarter and full year 2021 results

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Freshworks, a software company empowering businesses to delight their customers and employees, announced financial results for its fourth quarter and full year ended December 31, 2021.

“We had a strong finish to the year as we surpassed $100 million in quarterly revenue and achieved 44% year-over-year growth in the fourth quarter,” said Girish Mathrubootham, CEO and founder of Freshworks. “I’m incredibly proud of our employees for their focus and dedication as we continue to innovate on our products, put customers first, and execute as a public company.”

Fourth Quarter 2021 Financial Summary Results

  • Revenue: Total revenue was $105.5 million, representing growth of 44% compared to the fourth quarter of 2020.
  • GAAP (Loss) from Operations: GAAP (loss) from operations was $(56.4) million, compared to $(3.4) million in the fourth quarter of 2020.
  • Non-GAAP (Loss) from Operations: Non-GAAP (loss) from operations was $(10.7) million, compared to $(2.3) million in the fourth quarter of 2020.
  • GAAP Net (Loss) Per Share: GAAP basic and diluted net (loss) per share was $(0.28) based on 269.5 million weighted-average shares outstanding, compared to $(15.41) based on 77.2 million weighted-average shares outstanding in the fourth quarter of
  • Non-GAAP Net (Loss) Per Share: Non-GAAP basic and diluted net (loss) per share was $(0.06) based on 269.5 million weighted-average shares outstanding, compared to $(0.01) based on 77.2 million weighted-average shares outstanding in the fourth quarter of 2020.
  • Net Cash Provided by Operating Activities: Net cash provided by operating activities was $4.8 million, compared to $13.5 million in the fourth quarter of 2020.
  • Free Cash Flow: Free cash flow was $2.8 million, compared to $11.9 million in the fourth quarter of 2020.
  • Cash, Cash Equivalents and Marketable Securities: Cash, cash equivalents, and marketable securities were $1.3 billion as of December 31, 2021.

Full Year 2021 Financial Summary Results

  • Revenue: Total revenue was $371.0 million, representing growth of 49% compared to 2020.
  • GAAP (Loss) from Operations: GAAP (loss) from operations was $(204.8) million, compared to $(56.1) million in 2020.
  • Non-GAAP (Loss) from Operations: Non-GAAP (loss) from operations was $(18.3) million, compared to $(8.3) million in 2020.
  • GAAP Net (Loss) Per Share: GAAP basic and diluted net (loss) per share was $(21.73) based on 130.7 million weighted-average shares outstanding, compared to $(21.03) based on 76.9 million weighted-average shares outstanding in 2020.
  • Non-GAAP Net (Loss) Per Share: Non-GAAP basic and diluted net (loss) per share was $(0.21) based on 130.7 million weighted-average shares outstanding, compared to $(0.12) based on 76.9 million weighted-average shares outstanding in 2020.
  • Net Cash Provided by Operating Activities: Net cash provided by operating activities was $11.5 million, compared to $32.5 million in 2020.
  • Free Cash Flow: Free cash flow was $2.3 million, compared to $23.5 million in 2020.

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