Freshworks Statistics By Revenue And Facts (2025)
Updated · Jun 05, 2025
Table of Contents
Introduction
Freshworks Statistics: Freshworks Inc., a big-league software organisation engaged in customer engagement and IT service management, derived significant revenue and innovation, which will mark its name throughout 2024. From an integrating AI perspective into its product portfolio, the company has hit record milestones financially and in the eyes of customers.
This article contextualises the performance in 2024 by giving key Freshworks statistics and developments bearing upon its position in the software industry.
Editor’s Choice
- Freshworks generated revenues of US$713 million in 2024, against US$569 million in 2023.
- Since 2012, its revenue has been growing continuously, whereas in 2012, revenue amounted to just US$2.5 million.
- R&D expenses were US$164.59 million in 2024, signifying a great investment in innovation.
- Sales & Marketing expenses were US$390.82 million in 2024, underlining efforts to expand the market.
- Total current assets slightly fell to US$1.27 billion, after being US$1.36 billion.
- Total liabilities jumped to US$473.96 million from US$384.51 million in 2023.
- Deferred revenue saw an increase to US$323.44 million from US$266.40 million, indicating prepaid customer contracts.
- Stockholders’ equity increased to US$1.14 billion from US$1.07 billion.
- GAAP gross profit for 2024 stood at US$607.09 million, compared to US$493.06 million.
- The Non-GAAP gross profit in 2024 reached US$616.71 million.
Freshworks Revenue
(Source: getlatka.com)
- According to Getlatka, the Freshworks statistics state that the company has experienced some of the most remarkable and sustained growth in revenue since its inception in 2010.
- The company reported US$713 million in revenue for 2024, which far exceeds its previous year’s US$569 million revenue. This marks the highest-ever revenue for Freshworks, continuing a very strong upward growth.
- In 2022, revenue stood at US$498 million, in 2021 it was US$371 million, while revenues were US$250 million in 2020 and US$178 million in 2019.
- The story ahead looks good with previous revenues reflecting on the sprint of Freshworks: US$126.4 million in 2018, US$128 million in 2017, and US$60 million in 2016.
- From 2015 to 2012, the revenues were meagre but steadily rising – US$30 million in 2015, US$15 million in 2014, US$7.5 million in 2013, and US$2.5 million in 2012.
- This pattern tells the story of Freshworks, which has been able to improve its market footprint and user adoption as the years went by, without encountering any major dips in revenue, even throughout some global economic challenges.
- A steadily increasing revenue chart from US$2.5 million in 2012 to more than US$700 million in 2024 is a big testimony to its rapid growth as a big fish in the SaaS and customer engagement space.
Freshworks Operating Expenses
(Source: ir.freshworks.com)
- Given the significant operating expenses recognised by Freshworks, these would have included the following key areas.
- Freshworks spent US$41.03 million in research and development for the period ending, compared to US$35.83 million in the previous comparable period, contributing to an annual total of US$164.59 million, reflecting continuous investment in product innovation and technology.
- But sales and marketing were the highest expenditures of Freshworks and amounted to US$90.67 million for the period, marginally lower than US$92.32 million for the previous period.
- Annually, it is US$390.82 million; the huge number explains the continued focus of Freshworks on expanding its channels towards the market and customer acquisition.
- General and administrative costs amounted to US$47.54 million, up from US$44.99 million, contributing to US$180.63 million for the year.
- The expenditures consist of activities that support internal operations, such as HR, legal, and finance.
- Restructuring charges amounted to US$9.66 million during the period; such charges are one-time charges and were not present in the previous period.
- Operating expenses for this quarter thus amounted to US$188.90 million, compared to US$173.14 million previously, producing a full-year total of US$745.70 million, indicating an ongoing investment in expansion coupled with some restructuring effort.
Freshworks Assets
(Source: ir.freshworks.com)
- As per the Company report, Freshworks statistics reported a total current asset base of US$1.27 billion as of December 31, 2024, slightly down from US$1.36 billion at the end of 2023.
- The biggest component within was cash and cash equivalents, which increased to US$620.32 million from US$488.12 million the previous year, which means strong liquidity and cash reserves.
- On the other hand, marketable securities fell to US$449.75 million in 2024 from US$699.51 million in 2023, which may imply changes in how the company is buying or holding its short-term investments.
- Accounts receivable, money owed by customers, increased to US$122.91 million from US$97.18 million, implying either higher sales or slower-paying customers.
- Deferred contract acquisition costs, which are the expenses for gaining contracts but which are recognised over time, increased to US$26.11 million against US$22.91 million, indicating ongoing customer acquisition.
- Prepaid expenses and other current assets were quite stable, dipping slightly to US$46.35 million from US$47.83 million previously.
- From an overall perspective, the company maintained strong assets while adjusting its investment and cash management procedures.
Freshworks Liabilities
(Source: ir.freshworks.com)
- Freshworks statistics reported total liabilities and stockholders' equity of US$1.61 billion as of December 31, 2024, up from US$1.46 billion as of the close of business on December 31, 2023.
- Current liabilities stood at US$407.72 million, an increase from US$327.21 million registered for 2023.
- Accounts payable stood at US$1.62 million, down from US$3.49 million, while accrued liabilities, on the other hand, shot up to US$81.93 million from US$56.61 million.
- Deferred revenue increased to US$323.44 million, up from US$266.40 million, indicating more advanced billings: this is revenue for which invoices have been raised and payments received, but services have not yet been delivered.
- It, however, stood static at US$728,000 for the year’s income tax payable, barely changing from US$722,000 for the year of 2023.
- Non-current operating lease liabilities showed growth too, from US$26.80 million recorded in 2023 to US$30.22 million, showing longer-term commitments to leases of offices or equipment.
- Other liabilities increased to US$36.03 million from US$30.50 million, which brings the total liabilities to US$473.96 million, an increase from US$384.51 million.
- On the equity side, common stock represented a holding of US$3, while additional paid-in capital increased to US$4.87 billion from US$4.71 billion, reflecting either equity-based compensation or fresh capital raised.
- Accumulated other comprehensive loss decreased slightly to US$(338,000) from US$(754,000), while accumulated deficit increased to US$(3.74) billion from US$(3.64) billion, meaning the company is still net loss-making on an accumulated basis.
- Overall, the stockholder equity went up to US$1.14 billion from US$1.07 billion, despite the persistent losses.
- Since there is an increase in total assets as well as equity, it proves that Freshworks is growing while investing in its operations and expanding its customer base.
Freshworks Gross Profit and Gross Margin
(Source: ir.freshworks.com)
- As per the company’s report, the Freshworks statistics state that the platform generated a GAAP gross profit amounting to US$165.11 million, as against US$133.10 million in the corresponding quarter of 2023. GAAP gross profit for the entire year amounted to US$607.09 million, up from US$493.06 million the preceding year, signifying better revenue and cost efficiency.
- To arrive at the non-GAAP gross profit, Freshworks applied the following adjustments: stock-based compensation expenses for US$1.53 million for the quarter and US$6.57 million for the year; employer payroll taxes related to employee stock transactions for US$13,000 for the quarter and US$123,000 for the year; and amortisation of acquired intangibles for US$1.29 million for the quarter and US$2.93 million for the year.
- After considering these expenses, non-GAAP gross profit was US$167.95 million and US$616.71 million for the quarter and full-year 2024, respectively, improving on US$134.76 million and US$500.13 million for the respective periods of 2023.
- Freshworks also had an improvement in gross margins. The GAAP gross margin for Q4 2024 was 84.9%, up from 83.1% in Q4 2023. For the full year, the GAAP margin was 84.3% compared to 82.7% for the prior year.
- Gross margin, on a non-GAAP basis, was enhanced to 86.3% during the quarter and 85.6% during the year against the 84.2% and 83.9% in 2023, respectively.
- These Freshworks statistics indicate that the company handles the cost of revenue more competently while increasing the topline.
Freshworks Valuation Measures
(Source: finance.yahoo.com)
- As of the most recent data from finance.yahoo.com, Freshworks statistics reveal that the paltform had a market capitalisation of US$4.43 billion, up from US$4.21 billion at the end of March 2025 and fluctuating throughout the previous year, peaking at US$5.43 billion in Q1 2024 and dipping to a low of US$3.47 billion in Q3 2024.
- Its enterprise value followed a similar trend, currently at US$3.48 billion, which is an increase from US$3.18 billion in Q1 2025 but still below its high of US$4.27 billion in Q1 2024.
- These figures suggest investor sentiment has varied significantly over the past year, likely due to earnings performance and macroeconomic conditions.
- The company does not currently report a trailing price-to-earnings (P/E) ratio, indicating it is not profitable on a GAAP basis over the trailing twelve months.
- However, the forward P/E ratio has improved markedly—from a high of 58.82 in Q1 2024 to 26.11 most recently—indicating that investors expect future earnings to grow and the valuation to become more attractive over time.
- Freshworks’ PEG (Price/Earnings to Growth) ratio, which adjusts P/E for expected earnings growth, has decreased from 1.96 in early 2024 to 0.87 currently. This indicates that the stock may now be undervalued relative to its growth expectations, a positive signal for growth-oriented investors.
- The price-to-sales (P/S) ratio for the company has fallen from 8.95 at the start of 2024 to the current level of 6.03, indicating that the stock is cheaper now compared to its revenue.
- Similarly, the price-to-book (P/B) ratio has depreciated from 5.07 to 4.17, indicating that investors have become less willing to pay a premium to the company over book value.
- Speaking of enterprise value-based ratios, Freshworks’ EV/Revenue ratio went down from 7.15 to 4.62, further confirming the more favourable valuation trend.
- However, it still does not record any meaningful EV/EBITDA ratio, as the previous reading of -146.14 represents a negative EBITDA, another indicator of ongoing operational losses, notwithstanding improving revenue metrics.
Conclusion
Freshworks statistics exhibited strong growth and innovation in 2024, accompanied by massive increases in revenue, an increased customer base, and successful incorporation of AI technologies into product delivery. The focus on technology to enhance the customer and employee experience has consolidated the company’s software status. Freshworks is well set for success in the years to come, with the continuing growth in AI and commitment to operational excellence.
Sources
FAQ.
Freshworks generated US$713 million in revenues in 2024 as against US$569 million in 2023. This increase was in continuation of earlier ones seen from US$498 million in 2022, US$371 million in 2021, up to US$250 million in 2020. With US$2.5 million in revenue back in 2012, Freshworks has been increasing its revenue base consistently.
Freshworks carried an operating expense of US$745.70 million in 2024. This figure considers costs of US$164.59 million in research and development, US$390.82 million in sales and marketing, and US$180.63 million in general and administrative expenses. The expenses further included restructuring charges of US$9.66 million for the year.
In 2024, Freshworks reported a GAAP gross profit of US$607.09 million compared to US$493.06 million in 2023. Non-GAAP gross profit, on the other hand, is US$616.71 million. The GAAP gross margin saw a rise, as it stood at 84.3% in contrast to just 82.7% the previous year, whereas the non-GAAP margin was raised to 85.6% from the previous 83.9%, about an 80 basis points improvement in cost efficiency relative to revenues.
On December 31, 2024, total current assets of Freshworks declined somewhat to US$1.27 billion from US$1.36 billion in 2023. Cash and cash equivalents were up to US$620.32 million, while marketable securities fell to US$449.75 million. Accounts receivable were US$122.91 million, up, signalling an increase in sales activity or delayed collections.
Total liabilities increased to US$473.96 million from US$384.51 million in 2023 as deferred revenue rose to US$323.44 million and accrued liabilities to US$81.93 million. Stockholders’ equity increased to US$1.14 billion from US$1.07 billion, comprising contributed paid-in capital and a reduction in other comprehensive losses, while the accumulated deficit increased to US$(3.74) billion.
Maitrayee Dey has a background in Electrical Engineering and has worked in various technical roles before transitioning to writing. Specializing in technology and Artificial Intelligence, she has served as an Academic Research Analyst and Freelance Writer, particularly focusing on education and healthcare in Australia. Maitrayee's lifelong passions for writing and painting led her to pursue a full-time writing career. She is also the creator of a cooking YouTube channel, where she shares her culinary adventures. At Smartphone Thoughts, Maitrayee brings her expertise in technology to provide in-depth smartphone reviews and app-related statistics, making complex topics easy to understand for all readers.
