Freshworks (FRSH) financial statements
Freshworks reported revenue of $839M in fiscal 2025, up 30.2% a year over 6 years.
Net income was $184M and the operating margin 1.6%, against -17.2% in 2019.
Free cash flow was $221M, and the company returned $386M in net buybacks.
The diluted share count rose 286% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Freshworks's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $172M | $250M | $371M | $498M | $596M | $720M | $839M |
| Cost of revenue | $36M | $52M | $78M | $96M | $103M | $113M | $126M |
| Gross profit | $136M | $197M | $293M | $402M | $493M | $607M | $713M |
| Research and development | $39M | $69M | $120M | $136M | $138M | $165M | $163M |
| Selling, general and admin | $127M | $184M | $377M | $500M | $525M | $571M | $536M |
| Operating income | -$30M | -$56M | -$205M | -$233M | -$170M | -$139M | $13M |
| Pre-tax income | -$27M | -$53M | -$181M | -$221M | -$124M | -$91M | $53M |
| Income tax | $4M | $4M | $11M | $11M | $14M | $5M | -$130M |
| Net income | -$31M | -$57M | -$192M | -$232M | -$137M | -$95M | $184M |
| EPS (diluted) | -$8.21 | -$21.03 | -$21.73 | -$0.82 | -$0.47 | -$0.32 | $0.63 |
| Diluted shares | 76M | 77M | 131M | 285M | 293M | 301M | 294M |
| Gross margin | 78.8% | 79.0% | 79.0% | 80.8% | 82.7% | 84.3% | 85.0% |
| Operating margin | -17.2% | -22.5% | -55.2% | -46.9% | -28.5% | -19.2% | 1.6% |
| Net margin | -18.1% | -22.9% | -51.7% | -46.6% | -23.0% | -13.2% | 21.9% |
Balance sheet
Fiscal years, from Freshworks's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $75M | $238M | $1.3B | $1.1B | $1.2B | $1.1B | $781M |
| Receivables | — | $34M | $52M | $70M | $97M | $123M | $151M |
| Total current assets | — | $312M | $1.4B | $1.3B | $1.4B | $1.3B | $1.1B |
| Property, plant and equipment | — | $21M | $21M | $24M | $23M | $26M | $39M |
| Goodwill | — | $6M | $6M | $6M | $6M | $147M | $147M |
| Total assets | — | $367M | $1.5B | $1.4B | $1.5B | $1.6B | $1.6B |
| Total current liabilities | — | $152M | $223M | $272M | $327M | $408M | $498M |
| Total liabilities | — | $169M | $245M | $328M | $385M | $474M | $570M |
| Shareholders' equity | -$1.1B | -$2.7B | $1.2B | $1.1B | $1.1B | $1.1B | $1.0B |
| Net debt | -$75M | -$95M | -$748M | -$304M | -$488M | -$620M | -$570M |
Cash flow
Fiscal years, from Freshworks's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8M | $33M | $11M | -$3M | $86M | $161M | $242M |
| Capital spending | $15M | $9M | $9M | $12M | $8M | $15M | $21M |
| Free cash flow | -$23M | $24M | $2M | -$15M | $78M | $146M | $221M |
| Stock-based compensation | $273,000 | $43M | $173M | $208M | $211M | $217M | $147M |
| Share buybacks (net) | — | — | — | $0 | $0 | -$14M | -$386M |
| Free cash flow margin | -13.3% | 9.4% | 0.6% | -3.0% | 13.1% | 20.3% | 26.3% |
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What was Freshworks's revenue in 2025?
$839M in fiscal 2025, from its 10-K filing.
How much free cash flow does Freshworks generate?
$221M in fiscal 2025 (operating cash flow minus capital spending).
From Freshworks's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.