California-based software company Freshworks has reported a robust financial outlook that exceeded expectations, driven by the sustained demand for its affordable enterprise software products, even in challenging economic conditions.
The company, known for its competition with CRM giants like Salesforce and Zendesk, has successfully lured both large and small enterprises to its offerings, expanding its market share.
Freshworks has raised its annual revenue projection, now anticipating revenue in the range of USD 593 million to USD 595.5 million, surpassing its earlier estimate of USD 587 million to USD 595 million.
In terms of profitability, Freshworks has also shown remarkable improvement. Excluding specific items, the company now expects annual profit per share to fall within the range of 23 cents to 25 cents, up from its previous forecast of 18 cents to 22 cents.
For the upcoming fourth quarter, Freshworks is optimistic, with revenue projected to be in the range of USD 156.7 million to USD 159.3 million. This outlook suggests the company’s expectation of sustained growth in the near future.
Freshworks’ performance in the third quarter of the year has already turned heads. The company reported a 19 per cent increase in revenue, with a total of USD 153.6 million, exceeding analysts’ estimates of USD 150.7 million.
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