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)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,187,6271,164,7211,160,8661,150,6091,147,4881,151,531
Cash and cash equivalents488,121458,249356,220344,487304,083432,313
Short-term investments699,506706,472804,646806,122843,405719,218
Restricted cash and investments    333
Receivables97,17980,29473,90972,80770,47056,835
Capitalized contract cost22,90822,15521,69420,76120,13918,282
Debt securities, available-for-sale, accrued interest, after allowance for credit loss4,4004,0003,4003,2002,800 
Other undisclosed current assets43,43248,33143,42743,28436,11042,428
Total current assets:1,355,5461,319,5011,303,2961,290,6641,277,0101,269,079
Noncurrent Assets
Operating lease, right-of-use asset32,74932,24629,29731,17533,02428,821
Property, plant and equipment22,74722,92823,47124,21424,13923,381
Intangible assets, net (including goodwill)6,1816,1816,1816,1816,4846,760
Goodwill6,1816,1816,1816,1816,1816,181
Intangible assets, net (excluding goodwill)     303579
Capitalized contract cost, net19,76419,06719,26818,86519,53617,598
Deferred income tax assets10,0138,5358,6718,6458,6895,396
Other noncurrent assets9,7729,63010,12311,09811,33412,050
Total noncurrent assets:101,22698,58797,011100,178103,20694,006
TOTAL ASSETS:1,456,7721,418,0881,400,3071,390,8421,380,2161,363,085
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities60,09357,35255,44762,74264,91684,804
Taxes payable5,944
Employee-related liabilities17,540
Accounts payable3,4852,6881,6864,4155,9083,873
Accrued liabilities56,60854,66453,76158,32759,00857,447
Deferred revenue266,399246,085234,358220,550205,626190,969
Other undisclosed current liabilities7222,2841,7512,1771,150(23,419)
Total current liabilities:327,214305,721291,556285,469271,692252,354
Noncurrent Liabilities
Long-term debt and lease obligation:      24,630
Liabilities, other than long-term debt57,29653,88351,09854,93156,70626,098
Other liabilities30,50126,93426,84728,74828,53226,098
Operating lease, liability26,79526,94924,25126,18328,17424,630
Total noncurrent liabilities:57,29653,88351,09854,93156,70650,728
Total liabilities:384,510359,604342,654340,400328,398303,082
Equity
Equity, attributable to parent, including:1,072,2621,058,4841,057,6531,050,4421,051,8181,060,003
Additional paid in capital4,713,5224,675,8014,644,6864,600,6884,562,3194,516,386
Accumulated other comprehensive loss(754)(4,892)(5,641)(4,512)(7,431)(8,790)
Accumulated deficit(3,640,509)(3,612,428)(3,581,395)(3,545,737)(3,503,073)(3,447,596)
Other undisclosed equity, attributable to parent333333
Total equity:1,072,2621,058,4841,057,6531,050,4421,051,8181,060,003
TOTAL LIABILITIES AND EQUITY:1,456,7721,418,0881,400,3071,390,8421,380,2161,363,085

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues160,111153,550145,079137,692133,170128,760
Cost of revenue(27,009)(26,263)(24,861)(25,236)(25,156)(24,179)
Cost of goods and services sold (26,263)(24,861)(25,236) (24,179)
Gross profit:133,102127,287120,218112,456108,014104,581
Operating expenses(173,143)(166,022)(163,507)(160,563)(168,622)(162,869)
Operating loss:(40,041)(38,735)(43,289)(48,107)(60,608)(58,288)
Nonoperating income14,71510,99311,2169,4799,9732,249
Loss from continuing operations before income taxes:(25,326)(27,742)(32,073)(38,628)(50,635)(56,039)
Income tax expense(2,755)(3,291)(3,585)(4,036)(4,842)(1,804)
Loss from continuing operations:(28,081)(31,033)(35,658)(42,664)(55,477)(57,843)
Loss before gain (loss) on sale of properties:(57,843)
Net loss available to common stockholders, diluted:(28,081)(31,033)(35,658)(42,664)(55,477)(57,843)

Comprehensive Income ($ in thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net loss:(28,081)(31,033)(35,658)(42,664)(55,477)(57,843)
Other undisclosed comprehensive income 6,677     
Comprehensive loss:(21,404)(31,033)(35,658)(42,664)(55,477)(57,843)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(2,539)749(1,129)2,9191,359(2,481)
Comprehensive loss, net of tax, attributable to parent:(23,943)(30,284)(36,787)(39,745)(54,118)(60,324)

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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