NASDAQ$FRSH
Freshworks Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Freshworks reported a 20% year-over-year revenue growth and improved business efficiency with $40.6 million in net cash provided by operating activities.
Freshworks reported a strong first quarter with a 20% increase in revenue year-over-year, reaching $165.1 million. The company also demonstrated improved profitability and generated a strong free cash flow of $38.7 million.
- First quarter revenue grew 20% year-over-year, 19% adjusting for constant currency.
- GAAP loss from operations was $(32.2) million, compared to $(48.1) million in the first quarter of 2023.
- Non-GAAP income from operations was $21.8 million, compared to $3.9 million in the first quarter of 2023.
- Free cash flow was $38.7 million, compared to $9.1 million in the first quarter of 2023.
Headline financials
Revenue & EPS history
Freshworks · Revenue · Quarterly
$165M
Forward guidance
Freshworks provided estimates for the second quarter and full year 2024 based on current market conditions and expectations. Revenue and non-GAAP income from operations are based on exchange rates as of April 26, 2024 for currencies other than USD.
Tailwinds
- Second Quarter 2024 Revenue: $168.0 - $170.0 million
- Second Quarter 2024 Year-over-year growth: 16% - 17%
- Second Quarter 2024 Non-GAAP income from operations: $6.5 - $8.5 million
- Second Quarter 2024 Non-GAAP net income per share: $0.05 - $0.06
- Full Year 2024 Non-GAAP net income per share: $0.32 - $0.35
Headwinds
- Full Year 2024 Revenue: $695.0 - $705.0 million
- Full Year 2024 Year-over-year growth: 17% - 18%
- Full Year 2024 Non-GAAP income from operations: $58.0 - $64.0 million
- Estimates are subject to various important cautionary factors.
- Estimates for non-GAAP financial measures to GAAP have not been reconciled due to the uncertainty and potential variability of expenses that may be incurred in the future.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-1.6%
Avg return
Earnings day
-2.6%
Avg return
5 days after
-4.6%
Avg return
30 days after
35%
8 / 23 earnings
Positive
+35.2%
Q3 2024
Best reaction
-21.6%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | -6.4% | +2.9% | |
| Q4 2025 | -16.4% | -17.1% | -6.9% | |
| Q3 2025 | -2.1% | +5.2% | +16.1% | |
| Q1 2025 | +3.0% | +1.1% | +6.5% | |
| Q4 2024 | -0.3% | -4.5% | -16.7% | |
| Q3 2024 | +35.2% | +32.7% | +33.5% | |
| Q2 2024 | -6.1% | -12.3% | -11.9% | |
| Q1 2024 | -17.8% | -20.8% | -27.8% | |
| Q4 2023 | -2.4% | +0.2% | -14.4% | |
| Q3 2023 | -0.4% | +7.8% | +13.6% | |
| Q2 2023 | +15.8% | +12.1% | +17.2% | |
| Q1 2023 | -2.9% | -1.1% | +16.6% | |
| Q4 2022 | +4.1% | -2.8% | -10.1% | |
| Q3 2022 | -9.9% | -9.3% | +11.8% | |
| Q2 2021 | +3.2% | +6.8% | -13.6% | |
| Q2 2022 | +12.2% | +13.7% | -0.7% | |
| Q1 2021 | -12.0% | -15.6% | -3.9% | |
| Q1 2022 | -7.1% | -12.9% | -10.3% | |
| Q4 2019 | -5.2% | -1.5% | +8.1% | |
| Q4 2021 | -21.6% | -5.7% | -26.7% | |
| Q3 2020 | +2.9% | -4.1% | -28.1% | |
| Q4 2020 | +2.9% | -4.1% | -28.1% | |
| Q3 2021 | -10.7% | -20.6% | -33.0% | |
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