Freshworks Inc. - FRSH STOCK NEWS

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.

Freshworks has strengthened its partnership with Device42 to enhance enterprise-grade asset management for its Freshservice customers. This integration aims to improve business continuity and service availability, essential for hybrid working environments. Key benefits include automated asset discovery and real-time infrastructure insights. Customers can also purchase Device42 licenses directly from Freshworks, which has invested in training for the integration. This collaboration is expected to address critical IT service management challenges.

Freshworks Inc. (NASDAQ: FRSH) will announce its financial results for Q1 2022 on May 3, 2022, after market close. A live audio webcast is scheduled for 2:00 p.m. PT / 5:00 p.m. ET to discuss the financial results and business highlights. Freshworks serves over 56,000 customers globally, providing software solutions that enhance business operations. This announcement reflects the company's ongoing commitment to transparency with its investors.

Freshworks Inc. (NASDAQ: FRSH) announced a partnership with Collinson Group to address a 50% rise in customer enquiries due to new travel guidelines amid COVID-19. Collinson leveraged Freshdesk to implement chatbot support and automate workflows, managing an average of 1,200 inquiries daily, with peaks reaching 10,000. The rapid deployment was facilitated within three weeks, significantly enhancing operational efficiency and customer service. Effective use of metrics and omni-channel support has positioned Collinson to manage the dynamic environment of the travel industry.

Freshworks Inc (NASDAQ: FRSH) has launched an enhanced partner program aimed at strengthening its ecosystem of over 500 resellers and 350 independent software vendors. Hervé Danzelaud has been appointed as the new vice president of Global Channel and Alliances, previously leading Channels and Alliances for North America. The revamped program includes improved partner relationship management, tiered certifications, and dedicated resources for Preferred partners. This initiative will facilitate deeper collaboration among partners and enhance the customer experience with Freshworks’ software products.

Freshworks Inc. (NASDAQ: FRSH) has launched its Career ReStart program in the US, inspired by a successful initiative in India that promoted gender parity in tech. The program, unveiled on International Women’s Day, aims to support women returning to the workforce after breaks due to family or health reasons. In India, 74 women were shortlisted from over 1,000 applications for a training course, with plans to hire them full-time. Freshworks is committed to increasing female workforce representation to 40% by 2022, currently standing at 35%.