Freshworks (FRSH) Financials

$8.61 -0.22 (-2.49%)

Closing price 04:00 PM Eastern

Extended Trading

$8.57 -0.04 (-0.41%)

As of 06:01 PM Eastern

Annual Income Statements for Freshworks

This table shows Freshworks' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-625	-1,618	-2,839	-232	-137	-95	184
Consolidated Net Income / (Loss)	-31	-57	-192	-232	-137	-95	184
Net Income / (Loss) Continuing Operations	-71	-57	-192	-232	-137	-95	184
Total Pre-Tax Income	-27	-53	-181	-221	-124	-91	53
Total Operating Income	-30	-56	-205	-233	-170	-139	13
Total Gross Profit	136	197	293	402	493	607	713
Total Revenue	172	250	371	498	596	720	839
Operating Revenue	172	250	371	498	596	720	839
Total Cost of Revenue	77	52	78	96	103	113	126
Operating Cost of Revenue	77	52	78	96	103	113	126
Total Operating Expenses	166	253	498	636	663	746	699
Selling, General & Admin Expense	16	51	117	157	168	181	141
Marketing Expense	111	133	260	343	358	391	395
Research & Development Expense	39	69	120	136	138	165	163
Restructuring Charge	-	-	-	0.00	0.00	9.66	0.41
Total Other Income / (Expense), net	2.18	2.83	23	13	46	48	40
Other Income / (Expense), net	2.18	2.83	23	13	46	48	40
Income Tax Expense	3.64	4.02	11	11	14	4.53	-130
Basic Earnings per Share	($8.21)	($21.03)	($21.73)	($0.82)	($0.47)	($0.32)	$0.63
Weighted Average Basic Shares Outstanding	76.03M	76.95M	130.65M	284.59M	293.09M	300.84M	291.08M
Diluted Earnings per Share	($8.21)	($21.03)	($21.73)	($0.82)	($0.47)	($0.32)	$0.63
Weighted Average Diluted Shares Outstanding	76.03M	76.95M	130.65M	284.59M	293.09M	300.84M	293.77M
Weighted Average Basic & Diluted Shares Outstanding	-	-	282.65M	290.23M	297.94M	301.53M	284.14M

This table shows Freshworks' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-31	-28	-23	-20	-30	-22	-1.30	-1.74	-4.68	191	-4.81
Consolidated Net Income / (Loss)	-31	-28	-23	-20	-30	-22	-1.30	-1.74	-4.68	191	-4.81
Net Income / (Loss) Continuing Operations	-31	-28	-23	-20	-30	-22	-1.30	-1.74	-4.68	191	-4.81
Total Pre-Tax Income	-28	-25	-19	-31	-25	-16	2.55	3.89	-0.05	47	-6.63
Total Operating Income	-39	-40	-32	-44	-39	-24	-10	-8.66	-7.46	40	-8.06
Total Gross Profit	127	133	139	146	157	165	166	174	182	191	194
Total Revenue	154	160	165	174	187	195	196	205	215	223	229
Operating Revenue	154	160	165	174	187	195	196	205	215	223	229
Total Cost of Revenue	26	27	26	28	30	29	30	31	33	32	35
Operating Cost of Revenue	26	27	26	28	30	29	30	31	33	32	35
Total Operating Expenses	166	173	171	190	196	189	177	182	190	151	202
Selling, General & Admin Expense	40	45	42	45	46	48	47	47	47	-0.33	40
Marketing Expense	91	92	95	104	101	91	89	95	101	109	112
Research & Development Expense	35	36	35	41	48	41	40	40	41	42	49
Restructuring Charge	-	-	0.00	0.00	0.00	-	0.41	0.00	0.00	-	0.00
Total Other Income / (Expense), net	11	15	13	13	14	7.80	13	13	7.41	7.16	1.43
Other Income / (Expense), net	11	15	13	13	14	7.80	13	13	7.41	7.16	1.43
Income Tax Expense	3.29	2.76	3.95	-10	5.02	5.91	3.86	5.63	4.63	-145	-1.82
Basic Earnings per Share	($0.11)	($0.09)	($0.08)	($0.07)	($0.10)	($0.07)	$0.00	($0.01)	($0.02)	$0.66	($0.02)
Weighted Average Basic Shares Outstanding	294.15M	293.09M	297.87M	299.81M	302.10M	300.84M	301.28M	294.44M	286.16M	291.08M	283.34M
Diluted Earnings per Share	($0.11)	($0.09)	($0.08)	($0.07)	($0.10)	($0.07)	$0.00	($0.01)	($0.02)	$0.66	($0.02)
Weighted Average Diluted Shares Outstanding	294.15M	293.09M	297.87M	299.81M	302.10M	300.84M	301.28M	294.44M	286.16M	293.77M	283.34M
Weighted Average Basic & Diluted Shares Outstanding	295.29M	297.94M	298.82M	302.09M	302.85M	301.53M	295.01M	291.43M	281.97M	284.14M	276.43M

This table details how cash moves in and out of Freshworks' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-6.88	19	650	-444	184	132	12
Net Cash From Operating Activities	-8.16	33	11	-2.53	86	161	242
Net Cash From Continuing Operating Activities	-8.16	33	11	-2.53	86	161	242
Net Income / (Loss) Continuing Operations	-31	-57	-192	-232	-137	-95	184
Consolidated Net Income / (Loss)	-31	-57	-192	-232	-137	-95	184
Depreciation Expense	6.26	11	13	12	12	19	26
Amortization Expense	3.84	8.91	15	17	8.31	13	25
Non-Cash Adjustments To Reconcile Net Income	0.08	43	149	215	219	227	3.72
Changes in Operating Assets and Liabilities, net	13	27	26	-14	-15	-2.91	3.92
Net Cash From Investing Activities	-149	-11	-420	-285	158	39	206
Net Cash From Continuing Investing Activities	-149	-11	-420	-285	158	39	206
Purchase of Property, Plant & Equipment	-15	-9.01	-9.12	-12	-8.34	-15	-21
Acquisitions	-5.97	-6.83	-	0.00	0.00	-214	0.00
Purchase of Investments	-177	-116	-686	-849	-843	-621	-587
Sale of Property, Plant & Equipment	0.00	0.00	0.62	0.14	0.11	0.28	0.15
Sale and/or Maturity of Investments	48	120	250	576	1,010	888	831
Other Investing Activities, net	0.00	0.00	24	-	0.00	0.00	-16
Net Cash From Financing Activities	150	-1.91	1,058	-156	-61	-67	-437
Net Cash From Continuing Financing Activities	150	-1.91	1,058	-156	-61	-67	-437
Repurchase of Common Equity	0.00	0.00	-6.83	-0.11	0.00	-14	-386
Issuance of Common Equity	0.00	0.00	1,069	11	7.27	6.64	6.23
Other Financing Activities, net	0.41	-1.91	-4.15	-167	-68	-60	-57
Cash Income Taxes Paid	3.46	5.08	10	13	12	12	14

This table details how cash moves in and out of Freshworks' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	102	30	-20	-158	81	229	-26	-108	-65	211	-83
Net Cash From Operating Activities	24	31	41	36	42	41	58	59	63	62	62
Net Cash From Continuing Operating Activities	24	31	41	36	42	41	58	59	63	62	62
Net Income / (Loss) Continuing Operations	-31	-28	-23	-20	-30	-22	-1.30	-1.74	-4.68	191	-4.81
Consolidated Net Income / (Loss)	-31	-28	-23	-20	-30	-22	-1.30	-1.74	-4.68	191	-4.81
Depreciation Expense	2.98	3.05	2.97	3.75	6.34	6.36	6.36	6.28	6.60	6.61	7.86
Amortization Expense	1.85	2.82	2.03	2.79	2.88	4.87	5.68	6.06	6.17	7.24	7.62
Non-Cash Adjustments To Reconcile Net Income	57	53	54	57	61	54	54	52	49	-152	55
Changes in Operating Assets and Liabilities, net	-7.09	0.39	4.61	-7.43	1.60	-1.70	-6.72	-4.09	6.05	8.68	-2.94
Net Cash From Investing Activities	102	12	-38	-183	50	209	46	-43	46	157	-82
Net Cash From Continuing Investing Activities	102	12	-38	-183	50	209	46	-43	46	157	-82
Purchase of Property, Plant & Equipment	-1.84	-2.28	-1.95	-3.51	-2.22	-6.98	-4.07	-5.06	-6.26	-6.10	-7.28
Acquisitions	-	-	-	-	-	-	0.00	-	-	-	-57
Purchase of Investments	-161	-189	-219	-174	-173	-54	-122	-225	-144	-96	-147
Sale of Property, Plant & Equipment	0.03	0.02	0.04	0.02	0.02	0.19	0.04	0.00	0.05	0.06	0.01
Sale and/or Maturity of Investments	265	204	183	209	226	270	172	187	194	278	129
Net Cash From Financing Activities	-24	-13	-23	-11	-12	-21	-130	-124	-174	-8.32	-56
Net Cash From Continuing Financing Activities	-24	-13	-23	-11	-12	-21	-130	-124	-174	-8.32	-56
Repurchase of Common Equity	-	-	0.00	-	-	-	-114	-114	-159	-	-48
Other Financing Activities, net	-24	-16	-23	-15	-12	-11	-17	-14	-15	-11	-7.16
Effect of Exchange Rate Changes	-	-	-	-	-	-	0.00	-	-	-	-7.52
Cash Income Taxes Paid	3.34	2.14	1.66	2.53	3.94	3.82	3.47	3.67	3.35	3.89	2.81

This table presents Freshworks' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	367	1,483	1,380	1,457	1,612	1,603
Total Current Assets	312	1,421	1,277	1,356	1,265	1,097
Cash & Equivalents	95	748	304	488	620	570
Restricted Cash	-	-	-	-	0.00	62
Short-Term Investments	143	576	843	700	450	212
Accounts Receivable	34	52	70	97	123	151
Prepaid Expenses	31	31	39	48	46	73
Other Current Assets	9.17	15	20	23	26	30
Plant, Property, & Equipment, net	21	21	24	23	26	39
Total Noncurrent Assets	34	40	79	78	321	467
Goodwill	6.18	6.18	6.18	6.18	147	147
Intangible Assets	6.22	1.89	-	0.00	91	77
Noncurrent Deferred & Refundable Income Taxes	4.39	6.28	8.69	10	8.50	157
Other Noncurrent Operating Assets	17	26	64	62	74	86
Total Liabilities & Shareholders' Equity	367	1,483	1,380	1,457	1,612	1,603
Total Liabilities	169	245	328	385	474	570
Total Current Liabilities	152	223	272	327	408	498
Accounts Payable	3.71	6.32	5.91	3.49	1.62	12
Accrued Expenses	36	56	59	57	82	101
Current Deferred Revenue	104	160	206	266	323	385
Total Noncurrent Liabilities	17	21	57	57	66	72
Other Noncurrent Operating Liabilities	17	21	57	57	66	72
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-2,697	1,238	1,052	1,072	1,138	1,033
Total Preferred & Common Equity	-2,697	1,238	1,052	1,072	1,138	1,033
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-2,697	1,238	1,052	1,072	1,138	1,033
Common Stock	0.00	4,510	4,562	4,714	4,874	4,586
Retained Earnings	-2,697	-3,271	-3,503	-3,641	-3,736	-3,552
Accumulated Other Comprehensive Income / (Loss)	0.41	-0.75	-7.43	-0.75	-0.34	-1.59

This table presents Freshworks' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,363	1,391	1,400	1,418	1,467	1,544	1,575	1,541	1,481	1,372	1,605
Total Current Assets	1,269	1,291	1,303	1,320	1,367	1,197	1,233	1,196	1,137	1,021	1,007
Cash & Equivalents	432	344	356	458	468	310	391	594	486	421	548
Restricted Cash	-	-	-	-	-	-	-	-	-	-	1.16
Short-Term Investments	719	806	805	706	739	709	664	401	440	392	231
Accounts Receivable	57	73	74	80	84	101	99	112	116	120	127
Prepaid Expenses	42	46	47	52	52	52	54	62	67	60	68
Other Current Assets	18	21	22	22	23	25	25	27	28	29	31
Plant, Property, & Equipment, net	23	24	23	23	22	23	26	27	31	35	44
Total Noncurrent Assets	71	76	74	76	78	323	316	318	313	315	554
Goodwill	6.18	6.18	6.18	6.18	6.18	147	147	147	147	147	199
Intangible Assets	0.58	-	-	-	-	98	94	87	84	80	97
Noncurrent Deferred & Refundable Income Taxes	5.40	8.65	8.67	8.54	9.51	9.52	9.53	8.99	8.98	8.68	176
Other Noncurrent Operating Assets	58	61	59	61	62	69	65	74	74	80	82
Total Liabilities & Shareholders' Equity	1,363	1,391	1,400	1,418	1,467	1,544	1,575	1,541	1,481	1,372	1,605
Total Liabilities	303	340	343	360	389	428	440	479	496	520	586
Total Current Liabilities	252	285	292	306	336	368	378	413	433	451	520
Accounts Payable	3.87	4.42	1.69	2.69	1.52	9.77	6.96	2.15	4.90	7.62	19
Accrued Expenses	57	58	54	55	58	69	74	80	87	91	109
Current Deferred Revenue	191	221	234	246	276	288	296	331	339	348	392
Total Noncurrent Liabilities	51	55	51	54	53	61	62	66	64	70	66
Other Noncurrent Operating Liabilities	51	55	51	54	53	61	62	66	64	70	66
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,060	1,050	1,058	1,058	1,078	1,115	1,135	1,062	985	851	1,019
Total Preferred & Common Equity	1,060	1,050	1,058	1,058	1,078	1,115	1,135	1,062	985	851	1,019
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,060	1,050	1,058	1,058	1,078	1,115	1,135	1,062	985	851	1,019
Common Stock	4,516	4,601	4,645	4,676	4,743	4,800	4,847	4,798	4,723	4,597	4,580
Retained Earnings	-3,448	-3,546	-3,581	-3,612	-3,664	-3,684	-3,714	-3,737	-3,739	-3,744	-3,557
Accumulated Other Comprehensive Income / (Loss)	-8.79	-4.51	-5.64	-4.89	-1.27	-1.03	1.82	0.61	0.10	-1.70	-3.65

This table displays calculated financial ratios and metrics derived from Freshworks' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	44.83%	48.61%	34.22%	19.77%	20.79%	16.43%
EBITDA Growth	0.00%	-90.97%	-362.57%	-25.26%	46.30%	43.03%	277.18%
EBIT Growth	0.00%	-93.81%	-240.62%	-21.66%	43.94%	26.61%	158.66%
NOPAT Growth	0.00%	-89.12%	-264.95%	-13.96%	27.08%	18.55%	146.93%
Net Income Growth	0.00%	-84.08%	-235.10%	-20.91%	40.79%	30.61%	292.65%
EPS Growth	0.00%	-156.15%	-3.33%	96.23%	42.68%	31.91%	296.88%
Operating Cash Flow Growth	0.00%	498.46%	-64.77%	-122.03%	3,512.99%	86.41%	50.87%
Free Cash Flow Firm Growth	0.00%	0.00%	-20,367.11%	-56.95%	35.10%	-181.87%	73.05%
Invested Capital Growth	0.00%	0.00%	-115.04%	-11.89%	-20.59%	158.82%	178.40%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	5.89%	4.73%	5.02%	3.47%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	2.04%	19.63%	19.99%	168.90%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	2.59%	16.98%	9.32%	655.14%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-1.85%	10.78%	10.49%	229.26%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	7.66%	16.62%	6.09%	720.20%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-108.06%	18.97%	5.88%	730.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-42.98%	47.92%	37.93%	6.99%	9.47%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	16.31%	4.90%	-1,250.11%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-4.53%	-8.59%	-15.22%	393.86%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	78.85%	78.97%	78.97%	80.77%	82.67%	84.27%	84.96%
EBITDA Margin	-10.09%	-13.30%	-41.39%	-38.63%	-17.32%	-8.17%	12.43%
Operating Margin	-17.21%	-22.48%	-55.19%	-46.86%	-28.53%	-19.24%	1.57%
EBIT Margin	-15.95%	-21.34%	-48.91%	-44.34%	-20.75%	-12.61%	6.35%
Profit (Net Income) Margin	-18.06%	-22.95%	-51.75%	-46.61%	-23.04%	-13.24%	21.90%
Tax Burden Percent	113.22%	107.54%	105.79%	105.14%	111.04%	104.99%	344.81%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-244.81%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	35.47%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.03%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-18.54%
Return on Equity (ROE)	0.00%	-28.88%	-26.73%	-20.27%	-12.94%	-8.63%	16.93%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-413.00%	-58.83%
Operating Return on Assets (OROA)	0.00%	-14.50%	-19.62%	-15.42%	-8.73%	-5.92%	3.32%
Return on Assets (ROA)	0.00%	-15.59%	-20.75%	-16.22%	-9.69%	-6.22%	11.43%
Return on Common Equity (ROCE)	0.00%	392.70%	27.15%	-20.27%	-12.94%	-8.63%	16.93%
Return on Equity Simple (ROE_SIMPLE)	0.00%	2.12%	-15.51%	-22.07%	-12.82%	-8.38%	0.00%
Net Operating Profit after Tax (NOPAT)	-21	-39	-143	-163	-119	-97	46
NOPAT Margin	-12.05%	-15.73%	-38.64%	-32.80%	-19.97%	-13.47%	5.43%
Net Nonoperating Expense Percent (NNEP)	0.00%	-15.13%	-6.23%	-5.57%	-1.57%	0.15%	14.44%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-15.53%	-11.11%	-8.53%	4.41%
Cost of Revenue to Revenue	44.40%	21.03%	21.03%	19.23%	17.33%	15.73%	15.04%
SG&A Expenses to Revenue	9.23%	20.34%	31.54%	31.50%	28.12%	25.07%	16.82%
R&D to Revenue	22.37%	27.72%	32.45%	27.22%	23.10%	22.85%	19.46%
Operating Expenses to Revenue	96.06%	101.45%	134.16%	127.63%	111.20%	103.51%	83.39%
Earnings before Interest and Taxes (EBIT)	-27	-53	-181	-221	-124	-91	53
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-17	-33	-154	-192	-103	-59	104
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	5.58	4.03	6.47	4.30	3.34
Price to Tangible Book Value (P/TBV)	0.00	0.00	5.62	4.05	6.51	5.44	4.27
Price to Revenue (P/Rev)	5.95	4.11	18.62	8.50	11.63	6.80	4.12
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	18.80
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.32%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	56.40	13.82
Enterprise Value to Revenue (EV/Rev)	0.00	14.75	15.06	6.20	9.64	5.31	3.11
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	25.03
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	48.99
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	57.33
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	113.22	487.45	0.00	66.71	23.82	10.77
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	7,647.39	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-1.20	-1.09	-1.08	-1.10	-1.02	-0.88
Leverage Ratio	0.00	1.85	1.29	1.25	1.34	1.39	1.48
Compound Leverage Factor	0.00	1.85	1.29	1.25	1.34	1.39	1.48
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	1,459.55%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-1,359.55%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	-5.91	14.67	4.89	8.30	3.85	1.61
Noncontrolling Interest Sharing Ratio	0.00%	1,459.55%	201.55%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	2.05	6.36	4.70	4.14	3.10	2.20
Quick Ratio	0.00	1.79	6.16	4.48	3.93	2.93	1.87
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.48	-98	-153	-99	-280	-76
Operating Cash Flow to CapEx	-55.06%	360.88%	134.87%	-20.85%	1,047.12%	1,116.92%	1,135.65%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.68	0.40	0.35	0.42	0.47	0.52
Accounts Receivable Turnover	0.00	7.29	8.63	8.15	7.12	6.55	6.13
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	12.01	17.56	21.83	25.44	29.62	25.91
Accounts Payable Turnover	0.00	14.15	15.56	15.66	22.01	44.41	19.22
Days Sales Outstanding (DSO)	0.00	50.10	42.31	44.79	51.30	55.75	59.55
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	25.80	23.46	23.30	16.58	8.22	18.99
Cash Conversion Cycle (CCC)	0.00	24.31	18.85	21.49	34.71	47.53	40.56
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	-40	-86	-96	-115	68	189
Invested Capital Turnover	0.00	-12.56	-5.92	-5.50	-5.65	-30.33	6.53
Increase / (Decrease) in Invested Capital	0.00	-40	-46	-10	-20	183	121
Enterprise Value (EV)	0.00	3,683	5,586	3,088	5,749	3,827	2,610
Market Capitalization	1,026	1,026	6,910	4,235	6,936	4,897	3,454
Book Value per Share	$0.00	($35.05)	$4.71	$3.65	$3.63	$3.76	$3.66
Tangible Book Value per Share	$0.00	($35.21)	$4.67	$3.63	$3.61	$2.97	$2.87
Total Capital	0.00	198	1,238	1,052	1,072	1,138	1,033
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-238	-1,324	-1,147	-1,188	-1,070	-844
Capital Expenditures (CapEx)	15	9.01	8.50	12	8.23	14	21
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-78	-126	-142	-159	-212	-245
Debt-free Net Working Capital (DFNWC)	0.00	160	1,198	1,005	1,028	858	599
Net Working Capital (NWC)	0.00	160	1,198	1,005	1,028	858	599
Net Nonoperating Expense (NNE)	10	18	49	69	18	-1.66	-138
Net Nonoperating Obligations (NNO)	0.00	-238	-1,324	-1,147	-1,188	-1,070	-844
Total Depreciation and Amortization (D&A)	10	20	28	28	20	32	51
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-31.22%	-33.83%	-28.55%	-26.71%	-29.48%	-29.16%
Debt-free Net Working Capital to Revenue	0.00%	64.15%	322.90%	201.87%	172.41%	119.06%	71.43%
Net Working Capital to Revenue	0.00%	64.15%	322.90%	201.87%	172.41%	119.06%	71.43%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($21.73)	($0.82)	($0.47)	($0.32)	$0.63
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	130.65M	284.59M	293.09M	300.84M	291.08M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($21.73)	($0.82)	($0.47)	($0.32)	$0.63
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	130.65M	284.59M	293.09M	300.84M	293.77M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	282.65M	290.23M	297.94M	301.53M	284.14M
Normalized Net Operating Profit after Tax (NOPAT)	-21	-39	-143	-163	-119	-90	9.53
Normalized NOPAT Margin	-12.05%	-15.73%	-38.64%	-32.80%	-19.97%	-12.53%	1.14%
Pre Tax Income Margin	-15.95%	-21.34%	-48.91%	-44.34%	-20.75%	-12.61%	6.35%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-3.56%	-0.05%	0.00%	-14.36%	210.27%

This table displays calculated financial ratios and metrics derived from Freshworks' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	284,135,190.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	284,135,190.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.02
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.25%	20.23%	19.94%	20.03%	21.51%	21.52%	18.85%	17.54%	15.30%	14.48%	16.49%
EBITDA Growth	53.38%	56.45%	56.98%	12.77%	31.40%	75.55%	201.52%	167.60%	180.91%	1,376.69%	-39.37%
EBIT Growth	50.50%	49.98%	49.85%	4.78%	10.12%	36.86%	113.18%	112.74%	99.79%	393.25%	-359.85%
NOPAT Growth	33.55%	33.93%	33.13%	-1.15%	-0.33%	40.58%	123.63%	112.62%	80.81%	1,074.09%	-206.05%
Net Income Growth	46.35%	49.38%	45.33%	43.40%	3.46%	22.01%	94.41%	91.38%	84.38%	974.18%	-268.87%
EPS Growth	45.00%	55.00%	46.67%	41.67%	9.09%	22.22%	100.00%	85.71%	80.00%	1,042.86%	0.00%
Operating Cash Flow Growth	666.26%	330.67%	253.09%	82.64%	77.01%	34.01%	42.72%	61.25%	49.95%	50.70%	7.62%
Free Cash Flow Firm Growth	-56.13%	74.16%	132.41%	-964.05%	-1,620.88%	-2,298.40%	-3,023.99%	118.02%	117.13%	120.60%	6.54%
Invested Capital Growth	-16.07%	-20.59%	-28.98%	193.00%	175.34%	158.82%	151.48%	-39.11%	-52.21%	178.40%	259.06%
Revenue Q/Q Growth	5.84%	4.27%	3.14%	5.44%	7.15%	4.29%	0.87%	4.28%	5.10%	3.54%	2.65%
EBITDA Q/Q Growth	16.74%	15.07%	26.12%	-66.99%	34.52%	69.73%	406.75%	11.18%	-21.63%	377.67%	-85.43%
EBIT Q/Q Growth	13.50%	8.71%	23.51%	-57.65%	18.35%	35.87%	115.97%	52.41%	-101.34%	90,273.08%	-114.15%
NOPAT Q/Q Growth	10.52%	-3.37%	19.66%	-36.12%	11.24%	38.78%	131.94%	-27.28%	-234.93%	3,207.89%	-103.48%
Net Income Q/Q Growth	12.97%	9.51%	16.94%	13.47%	-48.43%	26.90%	94.05%	-33.36%	-169.12%	4,190.73%	-102.51%
EPS Q/Q Growth	8.33%	18.18%	11.11%	12.50%	-42.86%	30.00%	100.00%	0.00%	-100.00%	3,400.00%	-103.03%
Operating Cash Flow Q/Q Growth	20.20%	29.08%	31.60%	-10.54%	16.49%	-2.28%	40.16%	1.07%	8.33%	-1.79%	0.09%
Free Cash Flow Firm Q/Q Growth	42.57%	32.82%	178.13%	-3,630.11%	7.12%	6.37%	4.75%	121.75%	-11.68%	12.59%	-532.13%
Invested Capital Q/Q Growth	-2.93%	-8.59%	-11.99%	174.29%	-16.61%	-15.22%	-1.99%	-12.12%	-34.55%	393.86%	26.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	82.90%	83.13%	84.32%	83.82%	84.02%	84.86%	84.78%	84.78%	84.68%	85.56%	84.83%
EBITDA Margin	-14.92%	-12.15%	-8.71%	-13.79%	-8.42%	-2.45%	7.44%	7.93%	5.91%	27.27%	3.87%
Operating Margin	-25.23%	-25.01%	-19.48%	-25.15%	-20.83%	-12.23%	-5.31%	-4.23%	-3.47%	17.84%	-3.53%
EBIT Margin	-18.07%	-15.82%	-11.73%	-17.54%	-13.36%	-8.22%	1.30%	1.90%	-0.02%	21.05%	-2.90%
Profit (Net Income) Margin	-20.21%	-17.54%	-14.12%	-11.59%	-16.06%	-11.26%	-0.66%	-0.85%	-2.18%	85.95%	-2.10%
Tax Burden Percent	111.86%	110.88%	120.41%	66.09%	120.15%	136.96%	-51.08%	-44.69%	9,000.00%	408.29%	72.51%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	151.08%	144.69%	0.00%	-308.29%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.14%	-33.26%	475.88%	-14.08%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.72%	-33.31%	472.83%	-14.18%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-18.27%	31.33%	-416.90%	12.10%
Return on Equity (ROE)	-15.56%	-12.94%	-11.10%	-9.45%	-9.26%	-8.63%	-6.86%	0.87%	-1.93%	58.98%	-1.99%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-320.37%	-368.16%	-413.00%	-417.24%	-25.47%	11.10%	-58.83%	-71.20%
Operating Return on Assets (OROA)	-7.40%	-6.65%	-5.12%	-7.78%	-6.13%	-3.86%	0.65%	0.98%	-0.01%	10.99%	-1.61%
Return on Assets (ROA)	-8.28%	-7.37%	-6.17%	-5.14%	-7.36%	-5.28%	-0.33%	-0.44%	-1.20%	44.86%	-1.16%
Return on Common Equity (ROCE)	-15.56%	-12.94%	-11.10%	-9.45%	-9.26%	-8.63%	-6.86%	0.87%	-1.93%	58.98%	-1.99%
Return on Equity Simple (ROE_SIMPLE)	-15.57%	0.00%	-10.95%	-9.20%	-8.95%	0.00%	-6.91%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-27	-28	-23	-31	-27	-17	5.32	3.87	-5.22	162	-5.64
NOPAT Margin	-17.66%	-17.51%	-13.63%	-17.60%	-14.58%	-8.56%	2.71%	1.89%	-2.43%	72.83%	-2.47%
Net Nonoperating Expense Percent (NNEP)	-0.34%	0.00%	-0.07%	0.96%	-0.25%	-0.46%	-0.60%	-0.58%	0.06%	3.05%	0.09%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.61%	-	-	-	-1.46%	0.50%	0.39%	-0.61%	15.71%	-0.55%
Cost of Revenue to Revenue	17.10%	16.87%	15.68%	16.18%	15.98%	15.14%	15.22%	15.22%	15.32%	14.44%	15.17%
SG&A Expenses to Revenue	26.35%	28.10%	25.49%	25.56%	24.92%	24.43%	24.07%	22.98%	21.92%	-0.15%	17.68%
R&D to Revenue	22.72%	22.38%	21.00%	23.54%	25.67%	21.09%	20.38%	19.52%	19.27%	18.77%	21.55%
Operating Expenses to Revenue	108.12%	108.14%	103.80%	108.97%	104.85%	97.09%	90.08%	89.01%	88.15%	67.72%	88.35%
Earnings before Interest and Taxes (EBIT)	-28	-25	-19	-31	-25	-16	2.55	3.89	-0.05	47	-6.63
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-23	-19	-14	-24	-16	-4.76	15	16	13	61	8.85
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.52	6.47	4.99	3.40	3.06	4.30	4.01	4.47	4.03	3.34	2.24
Price to Tangible Book Value (P/TBV)	5.56	6.51	5.02	4.36	3.88	5.44	5.14	5.83	5.49	4.27	3.16
Price to Revenue (P/Rev)	10.27	11.63	8.62	5.81	5.06	6.80	5.66	5.62	4.23	4.12	2.62
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	18.80	12.66
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.32%	7.90%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	28.89	30.15	56.40	49.01	59.41	68.41	13.82	6.29
Enterprise Value to Revenue (EV/Rev)	8.22	9.64	6.68	4.25	3.52	5.31	4.34	4.44	3.23	3.11	1.72
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	335.63	67.48	25.03	15.23
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	48.99	34.04
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	57.33	23.60
Enterprise Value to Operating Cash Flow (EV/OCF)	74.96	66.71	36.17	21.05	16.07	23.82	18.31	17.34	11.82	10.77	6.08
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	398.53	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.09	-1.10	-1.11	-1.00	-1.01	-1.02	-1.03	-0.93	-0.94	-0.88	-0.85
Leverage Ratio	1.31	1.34	1.34	1.35	1.36	1.39	1.41	1.44	1.48	1.48	1.51
Compound Leverage Factor	1.31	1.34	1.34	1.35	1.36	1.39	1.41	1.44	1.48	1.48	1.51
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	7.39	8.52	6.02	2.97	2.46	4.01	3.03	2.89	1.22	1.60	0.13
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.32	4.14	4.07	3.26	3.26	3.10	2.89	2.63	2.27	2.20	1.94
Quick Ratio	4.07	3.93	3.84	3.05	3.05	2.93	2.68	2.41	2.07	1.87	1.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-12	-8.33	6.51	-230	-213	-200	-190	41	37	41	-178
Operating Cash Flow to CapEx	1,321.89%	1,368.17%	2,132.23%	1,040.55%	1,923.17%	609.61%	1,438.54%	1,159.30%	1,022.26%	1,030.48%	857.58%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.42	0.44	0.44	0.46	0.47	0.50	0.52	0.55	0.52	0.55
Accounts Receivable Turnover	8.31	7.12	7.94	7.47	7.64	6.55	7.64	7.22	7.40	6.13	7.27
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	24.60	25.44	26.82	27.83	27.95	29.62	30.18	28.79	26.37	25.91	24.30
Accounts Payable Turnover	30.95	22.01	35.07	18.74	22.99	44.41	64.06	16.40	16.94	19.22	12.64
Days Sales Outstanding (DSO)	43.94	51.30	45.96	48.85	47.75	55.75	47.75	50.57	49.30	59.55	50.20
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	11.80	16.58	10.41	19.48	15.87	8.22	5.70	22.26	21.55	18.99	28.88
Cash Conversion Cycle (CCC)	32.15	34.71	35.56	29.37	31.87	47.53	42.05	28.32	27.75	40.56	21.32
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-106	-115	-129	96	80	68	67	58	38	189	239
Invested Capital Turnover	-5.76	-5.65	-5.44	-180.67	-52.37	-30.33	-23.98	10.13	13.71	6.53	5.71
Increase / (Decrease) in Invested Capital	-15	-20	-29	199	186	183	196	-38	-42	121	172
Enterprise Value (EV)	4,683	5,749	4,170	2,773	2,413	3,827	3,259	3,472	2,617	2,610	1,501
Market Capitalization	5,848	6,936	5,377	3,792	3,468	4,897	4,255	4,399	3,430	3,454	2,282
Book Value per Share	$3.61	$3.63	$3.62	$3.73	$3.76	$3.76	$3.52	$3.34	$2.92	$3.66	$3.59
Tangible Book Value per Share	$3.58	$3.61	$3.60	$2.91	$2.96	$2.97	$2.74	$2.56	$2.14	$2.87	$2.55
Total Capital	1,058	1,072	1,078	1,115	1,135	1,138	1,062	985	851	1,033	1,019
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-1,165	-1,188	-1,207	-1,019	-1,055	-1,070	-995	-926	-813	-844	-780
Capital Expenditures (CapEx)	1.81	2.26	1.91	3.49	2.20	6.79	4.03	5.05	6.21	6.05	7.28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-151	-159	-177	-190	-200	-212	-213	-222	-243	-245	-294
Debt-free Net Working Capital (DFNWC)	1,014	1,028	1,031	829	855	858	783	704	571	599	487
Net Working Capital (NWC)	1,014	1,028	1,031	829	855	858	783	704	571	599	487
Net Nonoperating Expense (NNE)	3.92	0.05	0.81	-10	2.75	5.25	6.62	5.61	-0.54	-29	-0.83
Net Nonoperating Obligations (NNO)	-1,165	-1,188	-1,207	-1,019	-1,055	-1,070	-995	-926	-813	-844	-780
Total Depreciation and Amortization (D&A)	4.83	5.87	5.00	6.53	9.22	11	12	12	13	14	15
Debt-free, Cash-free Net Working Capital to Revenue	-26.50%	-26.71%	-28.29%	-29.07%	-29.18%	-29.48%	-28.31%	-28.42%	-29.92%	-29.16%	-33.71%
Debt-free Net Working Capital to Revenue	178.02%	172.41%	165.22%	127.01%	124.62%	119.06%	104.13%	90.00%	70.41%	71.43%	55.87%
Net Working Capital to Revenue	178.02%	172.41%	165.22%	127.01%	124.62%	119.06%	104.13%	90.00%	70.41%	71.43%	55.87%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.11)	($0.09)	($0.08)	($0.07)	($0.10)	($0.07)	$0.00	($0.01)	($0.02)	$0.66	($0.02)
Adjusted Weighted Average Basic Shares Outstanding	294.15M	293.09M	297.87M	299.81M	302.10M	300.84M	301.28M	294.44M	286.16M	291.08M	283.34M
Adjusted Diluted Earnings per Share	($0.11)	($0.09)	($0.08)	($0.07)	($0.10)	($0.07)	$0.00	($0.01)	($0.02)	$0.66	($0.02)
Adjusted Weighted Average Diluted Shares Outstanding	294.15M	293.09M	297.87M	299.81M	302.10M	300.84M	301.28M	294.44M	286.16M	293.77M	283.34M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	295.29M	297.94M	298.82M	302.09M	302.85M	301.53M	295.01M	291.43M	281.97M	284.14M	276.43M
Normalized Net Operating Profit after Tax (NOPAT)	-27	-28	-23	-31	-27	-17	-7.01	-6.06	-5.22	28	-5.64
Normalized NOPAT Margin	-17.66%	-17.51%	-13.63%	-17.60%	-14.58%	-8.56%	-3.57%	-2.96%	-2.43%	12.49%	-2.47%
Pre Tax Income Margin	-18.07%	-15.82%	-11.73%	-17.54%	-13.36%	-8.22%	1.30%	1.90%	-0.02%	21.05%	-2.90%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-14.36%	-173.56%	-438.76%	-1,350.30%	210.27%	178.15%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Freshworks (FRSH) based on the last four years of quarterly statements. The bullets below focus on the main positives, neutrals, and negatives, with the positives shown first, then neutral items, and finally the negatives.

Revenue growth: Freshworks’ quarterly operating revenue rose to $222.74 million in Q4 2025, up from $194.57 million in Q4 2024, and the four‑year trend moves from about $133.17 million (Q4 2022) to $222.74 million (Q4 2025.
Gross margin strength: Recent quarters show gross profit around 85% of revenue (Q4 2025 gross profit $190.57 million on $222.74 million revenue; Q3 2025 gross margin was about 84.8%). This indicates a resilient product margin despite growth investments.
Positive operating cash flow in late 2025: Net cash from continuing operating activities was $62.33 million in Q4 2025, with $63.47 million in Q3 2025 and $58.59 million in Q2 2025, signaling ongoing cash generation from core operations.
Free cash flow potential in Q4 2025: Cash from operating activities ($62.33 million) minus capital expenditures for property, plant & equipment ($6.10 million) yields a rough near‑term free cash flow of about $56 million, indicating meaningful cash generation after investment in growth.
Earnings volatility and one‑time effects: Q4 2025 net income attributable to common shareholders was $191.45 million, aided by substantial non‑cash adjustments (non‑cash adjustments to net income of −$151.65 million) and a tax benefit (income tax expense of −$144.56 million). This suggests a material one‑time boost rather than a running, repeatable earnings driver.
Ongoing operating expense intensity: Marketing expense in Q4 2025 was $109.36 million and R&D expense was $41.80 million, contributing to total operating expenses of about $150.84 million. This reflects continued heavy investment in growth but keeps the expense base elevated relative to revenue.
Earnings volatility across 2025 early quarters: Q3 2025 net income continuing operations was negative at $(4.68) million, with Q2 2025 and Q1 2025 also showing small losses. This points to persistent quarterly earnings variability despite top‑line growth.
Quarter‑to‑quarter earnings still showing results volatility: After a string of small losses in Q1–Q3 2025, the Q4 2025 improvement appears driven by one‑time items rather than a clear, repeatable pattern.
Cash‑burn from share repurchases in mid‑2025: Cash outflows due to repurchases were substantial (Q2 2025 repurchase of common equity ≈ −$113.59 million; Q3 2025 ≈ −$159.11 million), which reduced cash reserves even as operating cash flow was positive.
Liquidity trend cautions despite growth: Cash and cash equivalents declined from about $594.24 million in Q1 2025 to roughly $420.93 million in Q3 2025, suggesting liquidity could come under pressure if operating cash flow slows or growth investments accelerate.

05/11/26 06:10 PM ETAI Generated. May Contain Errors.

Freshworks Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Freshworks' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Freshworks' net income appears to be on a downward trend, with a most recent value of $183.72 million in 2025, falling from -$31.13 million in 2019. The previous period was -$95.37 million in 2024. See where experts think Freshworks is headed by visiting Freshworks' forecast page.

Freshworks' total operating income in 2025 was $13.21 million, based on the following breakdown:

Total Gross Profit: $712.66 million
Total Operating Expenses: $699.46 million

Over the last 6 years, Freshworks' total revenue changed from $172.38 million in 2019 to $838.81 million in 2025, a change of 386.6%.

Freshworks' total liabilities were at $570.06 million at the end of 2025, a 20.3% increase from 2024, and a 237.2% increase since 2020.

In the past 5 years, Freshworks' cash and equivalents has ranged from $95.38 million in 2020 to $747.86 million in 2021, and is currently $569.77 million as of their latest financial filing in 2025.

Over the last 6 years, Freshworks' book value per share changed from 0.00 in 2019 to 3.66 in 2025, a change of 366.2%.

Related Companies

Financial statements for NASDAQ:FRSH last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Freshworks (FRSH) Financials

Financials Breakdown Chart

Key Financial Trends

Freshworks Financials - Frequently Asked Questions

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Freshworks (FRSH) Financials

Annual Income Statements for Freshworks

Quarterly Income Statements for Freshworks

Annual Cash Flow Statements for Freshworks

Quarterly Cash Flow Statements for Freshworks

Annual Balance Sheets for Freshworks

Quarterly Balance Sheets for Freshworks

Annual Metrics And Ratios for Freshworks

Quarterly Metrics And Ratios for Freshworks

Financials Breakdown Chart

Key Financial Trends

Freshworks Financials - Frequently Asked Questions

When does Freshworks' financial year end?

How has Freshworks' net income changed over the last 6 years?

What is Freshworks' operating income?

How has Freshworks' revenue changed over the last 6 years?

How much debt does Freshworks have?

How much cash does Freshworks have?

How has Freshworks' book value per share changed over the last 6 years?

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