Freshworks Inc. (FRSH) Financial Statements (2024 and earlier)

Company Profile

Business Address 2950 S. DELAWARE ST.
SAN MATEO, CA 94403
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,160,8661,150,6091,147,4881,151,5311,174,1221,197,798
Cash and cash equivalents356,220344,487304,083432,313590,107603,466
Short-term investments804,646806,122843,405719,218584,015594,332
Restricted cash and investments  3334646
Receivables73,90972,80770,47056,83555,41548,482
Capitalized contract cost21,69420,76120,13918,28217,01215,729
Debt securities, available-for-sale, accrued interest, after allowance for credit loss3,4003,2002,800   
Other undisclosed current assets43,42743,28436,11042,42837,99037,635
Total current assets:1,303,2961,290,6641,277,0101,269,0791,284,5851,299,690
Noncurrent Assets
Operating lease, right-of-use asset29,29731,17533,02428,82128,63928,237
Property, plant and equipment23,47124,21424,13923,38123,33921,089
Intangible assets, net (including goodwill)6,1816,1816,4846,7607,0367,451
Goodwill6,1816,1816,1816,1816,1816,181
Intangible assets, net (excluding goodwill)   3035798551,270
Capitalized contract cost, net19,26818,86519,53617,59816,58015,243
Deferred income tax assets8,6718,6458,6895,3965,5895,858
Other noncurrent assets10,12311,09811,33412,05012,52013,113
Total noncurrent assets:97,011100,178103,20694,00693,70390,991
TOTAL ASSETS:1,400,3071,390,8421,380,2161,363,0851,378,2881,390,681
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities55,44762,74264,91684,80465,53957,283
Taxes payable5,944161385
Employee-related liabilities17,540
Accounts payable1,6864,4155,9083,8736,2913,798
Accrued liabilities53,76158,32759,00857,44759,08753,100
Deferred revenue234,358220,550205,626190,969182,795174,412
Other undisclosed current liabilities1,7512,1771,150(23,419)  
Total current liabilities:291,556285,469271,692252,354248,334231,695
Noncurrent Liabilities
Long-term debt and lease obligation:    24,63025,51726,934
Liabilities, other than long-term debt51,09854,93156,70626,09824,82720,834
Other liabilities26,84728,74828,53226,09824,82720,834
Operating lease, liability24,25126,18328,17424,63025,51726,934
Total noncurrent liabilities:51,09854,93156,70650,72850,34447,768
Total liabilities:342,654340,400328,398303,082298,678279,463
Equity
Equity, attributable to parent, including:1,057,6531,050,4421,051,8181,060,0031,079,6101,111,218
Additional paid in capital4,644,6864,600,6884,562,3194,516,3864,475,6694,435,568
Accumulated other comprehensive loss(5,641)(4,512)(7,431)(8,790)(6,309)(4,353)
Accumulated deficit(3,581,395)(3,545,737)(3,503,073)(3,447,596)(3,389,753)(3,320,000)
Other undisclosed equity, attributable to parent333333
Total equity:1,057,6531,050,4421,051,8181,060,0031,079,6101,111,218
TOTAL LIABILITIES AND EQUITY:1,400,3071,390,8421,380,2161,363,0851,378,2881,390,681

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues145,079137,692133,170128,760121,432114,637
Cost of revenue(24,861)(25,236)(25,156)(24,179)(24,042)(22,395)
Cost of goods and services sold(24,861)(25,236) (24,179)(24,042)(22,395)
Gross profit:120,218112,456108,014104,58197,39092,242
Operating expenses(163,507)(160,563)(168,622)(162,869)(164,742)(139,366)
Operating loss:(43,289)(48,107)(60,608)(58,288)(67,352)(47,124)
Nonoperating income (expense)11,2169,4799,9732,249(242)602
Loss from continuing operations before income taxes:(32,073)(38,628)(50,635)(56,039)(67,594)(46,522)
Income tax expense(3,585)(4,036)(4,842)(1,804)(2,159)(2,537)
Loss from continuing operations:(35,658)(42,664)(55,477)(57,843)(69,753)(49,059)
Loss before gain (loss) on sale of properties:(57,843)(69,753)(49,059)
Net loss available to common stockholders, diluted:(35,658)(42,664)(55,477)(57,843)(69,753)(49,059)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net loss:(35,658)(42,664)(55,477)(57,843)(69,753)(49,059)
Comprehensive loss:(35,658)(42,664)(55,477)(57,843)(69,753)(49,059)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,129)2,9191,359(2,481)(1,956)(3,606)
Comprehensive loss, net of tax, attributable to parent:(36,787)(39,745)(54,118)(60,324)(71,709)(52,665)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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