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Freshworks, the publicly listed SaaS firm, is acquiring U.S.-based startup Device42 for $230 million, the company disclosed in an SEC filing. Alongside the acquisition disclosure, Freshworks revealed that founder Girish Mathrubootham has stepped down as CEO.
Freshworks Inc. (FRSH) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.03 per share a year ago.
Software stocks usually trade at steep premiums compared to the broader market. SaaS names in particular often garner nosebleed valuations exceeding 10-times forward sales (or higher), even with ho-hum growth in the low double-digits.
SAN MATEO, Calif., Feb. 28, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc., (NASDAQ: FRSH) today announced participation in the following events:
Freshworks Inc. (FRSH) Q4 2023 Earnings Call Transcript
Girish Mathrubootham, Freshworks CEO, joins 'Closing Bell Overtime' to talk quarterly results after beating on top and bottom line and issuing strong guidance.
Freshworks is the latest enterprise-software company to attribute strong performance in part to the rollout of new artificial-intelligence features.
Freshworks (FRSH) expands its SaaS offerings through its multi-year strategic collaboration agreement with Amazon Web Services.
Freshworks currently targets SMBs cost effectively but is successfully pivoting to acquiring large enterprises as customers as well. The company is prioritizing margin expansion with efficient cost management along with rolling out robust AI-focused products and features. Positive valuation outlook, with a potential 23% upside based on projected CAGR in operating income.
SAN MATEO, Calif., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH) will announce its financial results for the fourth quarter and full year ended December 31, 2023 following the close of market on Tuesday, February 6, 2024. Freshworks will host a live audio webcast beginning at 2:00 p.m Pacific Time / 5:00 p.m. Eastern Time that same day to discuss the company's financial results and business highlights.