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Freshworks Inc. Announces Strong Q2 2024 Financial Results

Freshworks Inc. (NASDAQ: FRSH), a leader in software solutions, reported robust financial results for Q2 2024, ending June 30. The company achieved $174.1 million in revenue, marking a 20% increase year-over-year. CEO Dennis Woodside highlighted the company's commitment to financial discipline and the success of its AI-driven solutions in meeting customer needs.

Key financial metrics included a GAAP operating loss of $43.8 million and a non-GAAP income of $13.1 million, showing improvement from the previous year. The company's free cash flow rose to $32.8 million, nearly doubling from Q2 2023. Freshworks also reported a strong cash position with $1.02 billion in cash, equivalents, and marketable securities.

Notable achievements in the quarter included a 14% growth in customers contributing more than $5,000 in ARR, and significant customer wins such as Kayak and San Diego Unified School District. The company also expanded its global footprint by launching a new data center in the UAE, enhancing its capabilities in the region.

Freshworks recently acquired Device42, bolstering its IT Asset Management offerings, and introduced key leadership roles to support its strategic growth. The company continues to innovate and has received numerous industry awards, including recognition in the Business Intelligence Group’s “Excellence in Customer Service” and KM World’s “AI 100" list.

Looking ahead, Freshworks expects Q3 2024 revenue to range between $180.0 million and $183.0 million, with full-year estimates projected at $707.0 million to $713.0 million. The company maintains a positive outlook, emphasizing its readiness to seize new opportunities in the market.