Freshworks Inc. - FRSH STOCK NEWS

Investors in Freshworks (FRSH) have an opportunity to lead a class action lawsuit due to alleged securities fraud. The lawsuit claims that the company misled investors about its financial performance during the period following its September 2021 IPO. Key issues include plateauing net dollar retention rates and declining revenue growth, which contradict the company’s positive public statements. The deadline for lead plaintiff applications is January 3, 2023. Affected investors are encouraged to reach out to legal counsel for more information.

Freshworks Inc. (NASDAQ: FRSH), a leading software company, announced that its Chief Financial Officer, Tyler Sloat, will participate in a fireside chat at the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2022, at 11:35 a.m. PT. An audio webcast replay will be available on their investor relations website. Freshworks provides business software that enhances user experience and serves over 60,000 customers globally.

Freshworks Inc. (NASDAQ: FRSH) recently appointed Jason Loomis as Chief Information Security Officer. This strategic move enhances the company's senior technical leadership team, emphasizing the importance of security in delivering business software. With over 20 years of experience, Loomis previously served as CISO at MINDBODY and TechStyle Fashion Group. Freshworks aims to provide secure and user-friendly applications while maintaining customer trust. The company serves over 60,000 customers globally, highlighting its commitment to innovative software solutions.

Investors in Freshworks (NASDAQ: FRSH) have an opportunity to lead a securities class action lawsuit due to alleged misrepresentations during the Class Period, starting from the September 2021 IPO. The lead plaintiff application deadline is set for January 3, 2023. According to the complaint, the company did not disclose a plateau in net dollar retention rate alongside a deceleration in revenue growth and billings, leading to materially misleading statements about its business prospects.

Freshworks Inc. (NASDAQ: FRSH) reported a strong third quarter for 2022, with revenue reaching $128.8 million, a 33% increase year-over-year and 37% growth when adjusted for constant currency. The company's operating loss improved significantly, with a GAAP loss from operations of $(58.3) million, down from $(140.3) million in Q3 2021. Despite a non-GAAP loss from operations of $(3.1) million, the company maintained a solid cash position of $1.2 billion. New customer growth and innovative product enhancements contributed to positive trends in key metrics.

Freshworks (NASDAQ: FRSH) announced a significant update across its product suite aimed at automating the customer lifecycle, leveraging AI capabilities to enhance productivity and customer satisfaction. This Fall '22 Launch introduces features in Freshchat, Freshdesk, Freshmarketer, and Freshsales, promoting automation and easy implementation. Notably, organizations utilizing these AI tools can witness a 3.5 times increase in customer satisfaction and potentially save $80 billion in agent labor costs by 2026. A virtual event is scheduled for November 9 to showcase these innovations.

Freshworks has launched Freshservice for Business Teams, extending its service management platform to non-IT departments such as HR, legal, and finance. This move aims to enhance service delivery across various business functions, allowing multiple teams to operate independently within a single instance. The new solution supports private workspaces, improves IT operations with enhanced alert management, and is designed to bolster service management across the organization. A virtual event is scheduled for November 9 to showcase these innovations.

Freshworks Inc. (NASDAQ: FRSH) will announce its third quarter financial results for the period ending September 30, 2022, on November 1, 2022, after market close. The results will be followed by a live audio webcast at 2:00 p.m. PT / 5:00 p.m. ET to discuss the highlights of the quarter. Freshworks serves over 58,000 customers globally with its business software built for IT, customer support, sales, and marketing teams. For more information, visit Freshworks Investor Relations.

Freshworks Inc. (NASDAQ: FRSH) announced that its CFO, Tyler Sloat, will participate in a fireside chat at the Piper Sandler Growth Frontiers Conference on September 13, 2022, at 8:30 a.m. PT. This event provides an opportunity to discuss Freshworks' innovative business software solutions designed for IT, customer support, sales, and marketing teams. Following the session, an audio webcast replay will be available on the Freshworks investor relations website.