← Freshworks Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Net income (loss) | ($31.1m) | ($57.3m) | ($192.0m) | ($232.1m) | ($137.4m) | ($95.4m) | $183.7m | |
| Depreciation and amortization | $6.3m | $11.2m | $13.3m | $11.5m | $12.1m | $19.4m | $25.9m | |
| Amortization of deferred contract acquisition costs | $4.0m | $7.7m | $12.8m | $18.5m | $24.0m | $28.6m | $31.7m | |
| Discount amortization on marketable securities | ($194k) | $1.2m | $1.8m | ($1.6m) | ($15.7m) | ($16.0m) | ($6.6m) | |
| Deferred income taxes | ($939k) | ($2.4m) | ($1.9m) | ($2.4m) | ($1.3m) | ($12.6m) | $2.6m | |
| Gain on sale of non-marketable equity investments | ($316k) | ($132k) | ($23.8m) | $0 | $0 | $0 | ($1.8m) | |
| Operating lease liabilities | — | — | $0 | ($8.8m) | ($12.9m) | ($4.3m) | ($8.5m) | |
| Sale of non-marketable equity investments | $0 | $0 | $24.0m | $0 | $0 | $0 | $2.0m | |
| Operating lease right-of-use assets obtained in exchange for operating lease obligations | — | — | $0 | $14.9m | $7.5m | $13.3m | $12.8m | |
| Non-cash lease expense | — | — | $0 | $6.2m | $7.7m | $8.8m | $9.7m | |
| Stock-based compensation | $273k | $43.3m | $173.4m | $207.7m | $210.7m | $216.7m | $146.8m | |
| Release of valuation allowance | — | — | — | — | $0 | $0 | ($151.7m) | |
| Other | $386k | $143k | ($28k) | $887k | $209k | $1.4m | $779k | |
| Accounts receivable | ($9.4m) | ($9.9m) | ($17.5m) | ($18.9m) | ($27.0m) | ($17.1m) | ($28.1m) | |
| Deferred contract acquisition costs | ($9.6m) | ($14.3m) | ($24.2m) | ($28.6m) | ($27.0m) | ($34.5m) | ($40.1m) | |
| Prepaid expenses and other assets | ($11.3m) | ($8.2m) | ($5.9m) | ($8.1m) | ($7.4m) | ($1.4m) | ($11.9m) | |
| Accounts payable | $2.7m | $53k | $2.0m | $77k | ($2.4m) | ($2.2m) | $9.6m | |
| Accrued and other liabilities | $13.9m | $24.9m | $17.7m | $7.7m | $1.8m | $14.5m | $19.1m | |
| Deferred revenue | $27.4m | $36.4m | $56.0m | $45.5m | $60.8m | $54.8m | $61.2m | |
| Purchases of property and equipment | ($11.5m) | ($4.4m) | ($5.6m) | ($7.1m) | ($2.1m) | ($9.2m) | ($5.7m) | |
| Proceeds from sale of property and equipment | $0 | $0 | $620k | $137k | $110k | $279k | $149k | |
| Capitalized internal-use software | ($3.3m) | ($4.6m) | ($3.6m) | ($5.1m) | ($6.3m) | ($5.5m) | ($15.8m) | |
| Purchases of marketable securities | ($176.6m) | ($115.7m) | ($686.1m) | ($848.6m) | ($842.8m) | ($620.6m) | ($586.8m) | |
| Maturities and redemptions of marketable securities | $23.7m | $101.4m | $119.1m | $483.1m | $1.0b | $887.7m | $830.8m | |
| Advances paid for business combination (Note 16) | — | — | — | — | $0 | $0 | ($18.4m) | |
| Proceeds from exercise of stock options | $689k | $246k | $94k | $109k | $88k | $89k | $74k | |
| Payment of withholding taxes on net share settlement of equity awards | $0 | $0 | ($3.3m) | ($167.2m) | ($68.0m) | ($60.3m) | ($56.7m) | |
| Restricted cash included in other assets | $1.0m | $1.0m | $3k | $72k | $95k | $87k | $102k | |
| Stock-based compensation capitalized as internal-use software | — | $0 | $585k | $1.7m | $1.8m | $1.4m | $3.2m | |
| Excise tax liability accrued for common stock repurchased | — | — | — | — | $0 | $0 | $3.0m | |
| Net cash provided by operating activities | ($8.2m) | $32.5m | $11.5m | ($2.5m) | $86.2m | $160.6m | $242.4m | |
| Business combination, net of cash acquired | ($6.0m) | ($5.1m) | $0 | $0 | $0 | ($213.9m) | $0 | |
| Net cash provided by investing activities | ($148.9m) | ($11.4m) | ($420.3m) | ($284.8m) | $158.5m | $38.8m | $206.1m | |
| Proceeds from issuance of common stock under employee stock purchase plan, net | — | $0 | $0 | $10.9m | $7.3m | $6.6m | $6.2m | |
| Issuance of common stock and options in connection with acquisition | — | — | — | — | $0 | $12.9m | $0 | |
| Repurchase of common stock | — | — | — | $0 | $0 | ($13.7m) | ($386.3m) | |
| Payables related to unsettled common stock repurchases | — | — | — | $0 | $0 | $1.8m | $0 | |
| Net cash used in financing activities | $150.2m | ($1.9m) | $1.1b | ($156.4m) | ($60.6m) | ($67.3m) | ($436.7m) | |
| Net increase in cash, cash equivalents and restricted cash | ($6.9m) | $19.2m | $649.5m | ($443.7m) | $184.1m | $132.2m | $11.8m | |
| Cash, cash equivalents and restricted cash, beginning of period | $79.1m | $98.3m | $747.9m | $304.2m | $488.2m | $620.4m | $632.2m | |
| Cash and cash equivalents | $75.0m | $95.4m | $747.9m | $304.1m | $488.1m | $620.3m | $569.8m | |
| Restricted cash, current | $3.1m | $1.9m | $0 | $3k | $0 | $3k | $62.4m | |
| Cash paid for taxes | $3.5m | $5.1m | $10.5m | $13.4m | $12.0m | $11.9m | $14.4m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.