Freshworks Q4 revenue rises 22% to $194.6 million, losses narrow to $21.9 million
up from $160 million in the same period last year.
The Chennai and San Mateo, California-headquartered firm reduced its net loss by around 21.7% to $21.9 million during the quarter under review, compared to a net loss of $28 million in Q4 of 2023.
“Q4 was another great quarter across the board for Freshworks. We outperformed all our key metrics and exceeded our previously provided estimates for growth and profitability,” said Dennis Woodside, its CEO and president.
He attributed the growth to Freshworks’ investments in the employee experience (EX) business, which helped drive market momentum. The expansion of enterprise service management (ESM) and the integration of Device42, an IT asset management company it acquired last year, into new and existing accounts also contributed.
Additionally, Woodside noted that more mid-market and enterprise customers are switching to Freshworks, moving away from larger IT players due to overcharging concerns in the mid-market segment. More than 75% of the annual recurring revenue (ARR) from Freshworks’ EX business comes from mid-market and enterprise companies, defined as organisations with at least 250 employees.
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