Welcome to our dedicated page for Freshworks news (Ticker: FRSH), a resource for investors and traders seeking the latest updates and insights on Freshworks stock.
Freshworks Inc. (NASDAQ: FRSH) is a leading provider of cloud-based software, specializing in delivering AI-enhanced business solutions that are easy to use. Headquartered in San Mateo, California, Freshworks serves over 67,000 customers worldwide, including prominent names like American Express, Blue Nile, Bridgestone, and Databricks.
Core Offerings:
- Freshdesk: A comprehensive customer support software streamlining communication across multiple channels, such as email, phone, chat, and social media. It’s utilized by over 100,000 companies, including Honda and Cisco.
- Freshservice: An IT service management solution that boosts efficiency with features like automations, virtual agents, and a multilingual knowledge base. Notable users include Porsche eBike Performance.
- Sales and Marketing Automation: Tools designed to enhance customer acquisition and engagement, supporting businesses in their growth journey.
Global Reach: Freshworks generates revenue from North America, Europe, the Middle East, Africa, Asia Pacific, and other regions, demonstrating its widespread influence and customer base.
Recent Innovations and Achievements:
- Monos leveraged Freshworks to deflect 80% of customer queries and boost sales by 500%.
- Collaboration with AWS to deliver modern, AI-powered business software.
- Porsche eBike Performance improved IT service delivery and employee experience using Freshservice.
Leadership Transition: Founder and CEO Girish Mathrubootham has transitioned to Executive Chairman, while President Dennis Woodside has taken over as CEO. Woodside brings extensive experience, having previously worked at Dropbox and Google.
Freshworks continues to innovate, focusing on AI and customer experience enhancements. Its products are designed for immediate business impact, making it a valuable partner for companies seeking to improve efficiency and customer satisfaction.
Freshworks (NASDAQ: FRSH) has launched Freddy AI Agent, a new autonomous service agent for customer and employee experience that can be deployed without coding in minutes. The AI agent has demonstrated impressive results in beta testing, autonomously resolving an average of 45% of customer support requests and 40% of IT service requests.
The solution features rapid deployment without coding requirements, 24/7 autonomous operation, multi-language support, and enterprise-grade security. Early adopters like Bchex, Porsche eBike, and Hobbycraft have reported significant productivity gains. The AI agent learns from existing documents and websites, providing personalized customer support and IT assistance across multiple channels.
Freshworks Inc. (NASDAQ: FRSH) has announced that it will release its financial results for the third quarter ended September 30, 2024, after the market closes on Wednesday, November 6, 2024. The company will host a live audio webcast at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day to discuss the financial results and business highlights.
Investors and interested parties can access the webcast through the Freshworks investor relations website at https://ir.freshworks.com. A replay of the webcast will also be available on the same website after the event. The press release containing the financial results will be accessible on the investor relations website before the start of the webcast.
Freshworks Inc. (NASDAQ: FRSH), a leading software company, has announced its participation in the Oppenheimer 27th Annual Technology, Internet & Communications Conference. Tyler Sloat, the company's Chief Operating Officer and Chief Financial Officer, is scheduled to engage in a fireside chat on August 12, 2024, at 9:25 a.m. Pacific Time (12:25 p.m. Eastern Time).
This event presents an opportunity for investors and industry analysts to gain insights into Freshworks' strategies and performance. An audio webcast replay of the session will be made available on the Freshworks investor relations website at https://ir.freshworks.com, allowing those unable to attend live to access the information at their convenience.
Freshworks Inc. (NASDAQ: FRSH) reported strong Q2 2024 results with total revenue of $174.1 million, up 20% year-over-year. The company achieved a free cash flow margin of 19% and non-GAAP income from operations of $13.1 million. Key metrics include:
- 21,744 customers contributing over $5,000 in ARR, up 14% YoY
- Net dollar retention rate of 106%
- Non-GAAP diluted net income per share of $0.08
- Cash, cash equivalents, and marketable securities of $1.02 billion
Freshworks completed the acquisition of Device42, Inc., enhancing its IT Asset Management solutions. The company also launched a new data center in the UAE and introduced new leadership roles to support growth and expansion.
Freshworks (NASDAQ: FRSH) will release its Q2 2024 financial results on July 30, 2024, after market close. The announcement will cover the financial period ending June 30, 2024. Freshworks will host a live audio webcast on the same day at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results and provide business updates. The webcast and its replay will be available on the Freshworks investor relations website.
Freshworks has released its Global AI Workplace Report, surveying over 7,000 full-time employees from March 9 to April 4, 2024. The report reveals that more than half (55%) of knowledge workers use AI-enhanced software, with AI helping to save nearly 24 business days per year. A significant majority (72%) believe AI adds value to their work, and 81% trust AI due to its productivity benefits and quality of work. Despite AI's popularity, 40% of workers are unaware they are using AI. Senior leaders report productivity improvements and better quality of work due to AI. However, 37% of employees lack good metrics for measuring productivity. The U.S. lags in AI adoption and trust compared to India and the UAE. The report highlights AI's role in enhancing decision-making, operational efficiencies, and customer experiences.
Rocketlane has announced a $24 million Series B funding round, co-led by 8VC, Matrix Partners India, and Nexus Venture Partners, bringing its total funds raised to $45 million. The company, which provides an AI-powered platform for professional services teams, has tripled its revenue over the past year and boasts over 500 customers, including OpenGov, LivePerson, and Fivetran. Rocketlane's platform aims to replace outdated PSA tools, reducing project delays and enhancing profitability. The new funds will expedite Rocketlane's AI roadmap, adding advanced features to improve client project delivery. The company recently appointed Rao Adavikolanu as Chief Marketing Officer to bolster market presence and strategic initiatives.
Freshworks announced the completion of its acquisition of Device42, aiming to enhance its IT Asset Management (ITAM) capabilities. This move is expected to provide customers with a unified platform for IT Service Management (ITSM) and ITAM, offering advanced asset discovery and application dependency mapping. The integration is designed to help IT teams reduce risk, solve incidents faster, and optimize IT operations. Freshworks CEO Dennis Woodside emphasized the company's commitment to delivering value to IT teams globally, while Device42 CEO Raj Jalan highlighted the synergy between the two companies' solutions, particularly in IT infrastructure discovery and AI-driven innovation.
Freshworks announced its participation in two upcoming investor conferences. CEO Dennis Woodside will participate in a fireside chat at the J.P. Morgan 52nd Annual Global Technology, Media, and Communications Conference on May 21, 2024. CFO Tyler Sloat will also engage in a fireside chat at the Jefferies Software Conference on May 29, 2024. Both events will have audio webcast replays available on the Freshworks investor relations website.
Freshworks Inc. (NASDAQ: FRSH) announced the appointment of Dennis Woodside as the new Chief Executive Officer & President, succeeding Founder Girish Mathrubootham, who will transition to the role of Executive Chairman. Woodside, with a proven track record in leading tech companies like Dropbox and Google, will focus on accelerating growth and expanding the company's enterprise offerings. Mathrubootham will remain actively involved in the company's long-term vision and product strategy.
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