Freshworks Inc. - FRSH STOCK NEWS

Freshworks Inc. (NASDAQ: FRSH) reported a robust second quarter for 2022 with revenue reaching $121.4 million, a 37% year-over-year growth, and 40% when adjusted for constant currency. However, it faced a GAAP loss from operations of $(67.4) million, worsening from $(6.4) million in Q2 2021. The net cash used in operating activities was $(6.8) million, contrasting with previous cash generation. Despite challenges, the company reported a strong customer growth rate and net dollar retention rate of 111%.

Freshworks Inc. (NASDAQ: FRSH) announced a new integration of its customer support solutions with Google’s Business Messages. This enhancement allows businesses to interact with customers via Google Maps and Search, enabling faster responses and improved accessibility. The integration aims to streamline communication, enhance customer satisfaction (CSAT), and create a unified experience across channels. Early adopters, like Poorvika Mobiles, report significant increases in chat volume and improved customer interactions. This shift aligns with consumer expectations for timely support, with 54% desiring quicker brand responses.

ZNet Technologies, a prominent distributor of cloud services, has formed a distribution partnership with Freshworks, a leading business software provider. This collaboration will allow ZNet to resell Freshworks' products, including Freshdesk and Freshsales, enhancing its offerings to partners and clients. The partnership aims to improve customer engagement while simplifying deployment for businesses of all sizes. Freshworks is known for its affordable, user-friendly software solutions tailored for IT, customer support, sales, and marketing teams.

Freshworks announced its Summer ‘22 Product Launch, enhancing its unified customer record architecture with Freshchat to facilitate seamless customer interactions across various messaging platforms. This update aims to boost productivity for support agents, marketers, and sales teams by integrating customer data from Freshmarketer and Freshsales. Notable features include AI-powered chatbots, omnichannel support, and advanced CRM tools tailored for e-commerce. The enhancements are expected to revolutionize customer engagements, enabling smarter conversations and improved operational efficiency.

Freshworks Inc. (NASDAQ: FRSH) released its report titled State of Workplace Technology: Bloatware, revealing that IT professionals waste over 7 hours a week on complex software, costing U.S. businesses $84 billion annually. The survey of 2,000 IT pros indicates that 89% feel hindered by bloatware, with many expressing a desire for simpler software solutions. Notably, 36% of IT workers stated that outdated software makes them consider quitting. The findings suggest a pressing need for companies to reduce unnecessary software contracts and prioritize user-friendly technology.

Freshworks Inc. (NASDAQ: FRSH) will announce its financial results for Q2 2022 on August 2, 2022, after market close. The company will hold a live audio webcast at 2:00 p.m. PT to discuss these results and key business highlights. Freshworks, headquartered in San Mateo, California, serves over 58,000 customers globally, offering software solutions designed for IT, customer support, sales, and marketing teams. More information can be accessed through their investor relations website.

Freshworks (NASDAQ: FRSH) announced its participation in key investor conferences. CEO Girish Mathrubootham will present at the 50th Annual J.P. Morgan Global Technology, Media, and Communications Conference on May 24, 2022, at 6:30 a.m. PT. CFO Tyler Sloat will present at the Jefferies Software Conference on June 1, 2022, at 11:30 a.m. PT. Investors can access a replay of the audio webcast on Freshworks' investor relations website following the events.

Freshworks Inc (NASDAQ: FRSH) has been selected by KUKA, a leading German robot manufacturer, to enhance its IT support operations. With an annual revenue of 3.3 billion Euros, KUKA aims to modernize its IT capabilities by implementing Freshservice. This tool will streamline support inquiries, improve visibility of key performance indicators, and facilitate employee onboarding and offboarding processes. The swift implementation process took less than nine days, significantly enhancing efficiency and operational workflows for KUKA's IT infrastructure.