US-based SaaS firm Freshworks surpasses $100M in quarterly revenue

US-based software-as-a-service (SaaS) firm Freshworks, which recently got listed on Nasdaq, has clocked a revenue of $105.5 million in its fourth quarter of 2021, representing 44% growth compared to the fourth quarter of 2020.

“We had a strong finish to the year as we surpassed $100 million in quarterly revenue and achieved 44% year-over-year growth in the fourth quarter,” said Girish Mathrubootham, CEO and founder of Freshworks. 

“I’m incredibly proud of our employees for their focus and dedication as we continue to innovate on our products, put customers first, and execute as a public company,” he adds.

The SaaS company, which was started by Indian entrepreneurs, reported GAAP (Generally Accepted Accounting Principles) losses of $56.4 million, compared to $3.4 million in the fourth quarter of 2020. It also witnessed an increase in Non-GAAP loss from $2.3 million in Q4 2020 to $10.7 million in the fourth quarter of 2021.

Freshworks also saw 28% year-on-year (YoY) growth in the number of customers contributing more than $5,000 in ARR (annual recurring revenue). The net dollar retention rate stood at 114%, compared to 117% in the third quarter of 2021 and 111% in the fourth quarter of 2020.

Besides this, The company also acquired new customers to its community, including British Museum, Databricks, Jollyroom, KaDeWe, Nation Safe Drivers, StyleSeat, Wheel Pros, among others.

In 2021, the SaaS firm had clocked a total revenue of $371 million and is expecting to reach between $486.5 and $495 million in revenue for the year 2022.

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