Loading financials from SEC filings…
Software - Application · Technology · Fiscal year ends Dec 31
Freshworks reported revenue of $839M in the fiscal year ended Dec 2025, up 16.4% from the year before. Operating income was $13M, an operating margin of 1.6%, and net income was $184M. Operating cash flow of $242M less capital expenditure of $6M left free cash flow of $237M.
Ranks among the 83 software - application companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 371 | 498 | 596 | 720 | 839 |
| Cost of revenue | 78.0 | 95.8 | 103 | 113 | 126 |
| Gross profit | 293 | 402 | 493 | 607 | 713 |
| Research & development | 120 | 136 | 138 | 165 | 163 |
| Selling, general & admin | 377 | 500 | 525 | 571 | 536 |
| Operating income | −205 | −233 | −170 | −139 | 13.2 |
| Pre-tax income | −181 | −221 | −124 | −90.8 | 53.3 |
| Income tax | 10.5 | 11.3 | 13.7 | 4.5 | −130 |
| Net income | −192 | −232 | −137 | −95.4 | 184 |
| Diluted EPS | −21.73 | −0.82 | −0.47 | −0.32 | 0.63 |
| Diluted shares | 131 | 285 | 293 | 301 | 294 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 748 | 304 | 488 | 620 | 570 |
| Receivables | 51.8 | 70.5 | 97.2 | 123 | 151 |
| Current assets | 1,421 | 1,277 | 1,356 | 1,265 | 1,097 |
| Net PP&E | 21.5 | 24.1 | 22.7 | 25.9 | 38.8 |
| Goodwill | 6.2 | 6.2 | 6.2 | 147 | 147 |
| Total assets | 1,483 | 1,380 | 1,457 | 1,612 | 1,603 |
| Payables | 6.3 | 5.9 | 3.5 | 1.6 | 11.5 |
| Deferred revenue | 160 | 206 | 266 | 323 | 385 |
| Current liabilities | 223 | 272 | 327 | 408 | 498 |
| Total liabilities | 245 | 328 | 385 | 474 | 570 |
| Shareholders' equity | 1,238 | 1,052 | 1,072 | 1,138 | 1,033 |
| Backlog (remaining obligations) | 231 | 302 | 419 | 525 | 644 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 11.5 | −2.5 | 86.2 | 161 | 242 |
| Capital expenditure | 5.6 | 7.1 | 2.1 | 9.2 | 5.7 |
| Free cash flow | 5.9 | −9.7 | 84.1 | 151 | 237 |
| Depreciation & amortisation | 13.3 | 11.5 | 12.1 | 19.4 | 25.9 |
| Stock-based compensation | 173 | 208 | 211 | 217 | 147 |
| Acquisitions | 0.0 | 0.0 | 0.0 | 214 | 0.0 |
| Share buybacks | – | 0.0 | 0.0 | 13.7 | 386 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 34.2% | 19.8% | 20.8% | 16.4% |
| Gross margin | 79.0% | 80.8% | 82.7% | 84.3% | 85.0% |
| Operating margin | −55.2% | −46.9% | −28.5% | −19.2% | 1.6% |
| Net margin | −51.7% | −46.6% | −23.0% | −13.2% | 21.9% |
| Return on equityBlank when equity is negative | −15.5% | −22.1% | −12.8% | −8.4% | 17.8% |
| ROCEEBIT ÷ (assets − current liabilities) | −16.3% | −21.1% | −15.1% | −11.5% | 1.2% |
| Free cash flow margin | 1.6% | −1.9% | 14.1% | 21.0% | 28.2% |
| Cash conversion (CFO ÷ net income) | −0.06x | 0.01x | −0.63x | −1.68x | 1.32x |
| Receivable days | 51 | 52 | 59 | 62 | 66 |
| Payable days | 30 | 23 | 12 | 5 | 33 |
| Current ratio | 6.36x | 4.70x | 4.14x | 3.10x | 2.20x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.