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 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 Notably, 36% of IT workers stated that outdated software makes them consider quitting.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.
Freshworks released its second annual IT Service Management Benchmark Report, highlighting the impact of automation and AI in enhancing employee satisfaction amidst remote work. The report analyzed data from 62 million tickets across 86 countries, revealing that IT teams resolved issues 23% faster in 2021 compared to 2020. Notably, automation played a key role, with companies using it achieving 22% faster resolution times. North America reported the highest customer satisfaction at 97.92%, while Latin America demonstrated the quickest response times. The findings underscore the growing importance of IT solutions in supporting workforce productivity.
Freshworks Inc. (NASDAQ: FRSH) reported a robust 42% revenue growth year-over-year, totaling $114.6 million for Q1 2022. Despite increased revenue, the company faced a GAAP operating loss of $(47.1) million, significantly higher than $(1.7) million the previous year. The net dollar retention rate improved to 115%, reflecting strong customer retention. Net cash from operating activities fell to $1.4 million from $7.8 million. Freshworks launched a new CRM for e-commerce and welcomed numerous new customers. Cash reserves stood at $1.2 billion.
Freshworks Inc. (NASDAQ: FRSH) has announced the launch of Freshworks CRM for Shopify, enabling merchants to enhance customer engagement through integrated sales, support, and marketing functionalities. This solution, available in the Shopify App Store, allows businesses to utilize real-time conversational support and targeted marketing based on customer behavior. Merchants can automate messaging across multiple channels and gain a complete view of their customers, aiming to improve customer experiences and retention.
Freshworks Inc. (NASDAQ: FRSH) has launched Freshworks CRM for e-commerce, a customer relationship management solution designed for direct-to-consumer brands and digital retailers. This unified solution integrates marketing, sales, and customer support, empowering businesses to deliver personalized experiences across messaging channels like WhatsApp and SMS. With the potential to tap into the $7 trillion direct-to-consumer retail market, the CRM solution aims to streamline customer interactions and improve operational efficiency. Early users report significant enhancements in customer engagement and sales.
Freshworks Inc. (NASDAQ: FRSH) announces the Global Jam, a two-month event series starting May 3, 2022, in San Francisco and concluding on June 16 in London. This tour, covering 25 cities across five continents, aims to unite leaders in customer experience, IT, sales, and marketing to share strategies that enhance customer and employee satisfaction. Attendees will gain insights into emerging IT trends, enjoy networking opportunities, and hear from keynote speakers, including representatives from notable companies like Allbirds and Amazon Web Services.
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