The broad stock market fall in the US on August 15 didn’t spare Freshworks either, as the tech-heavy Nasdaq fell more than one percent for the first time since May.
However, the Chennai-to-San Mateo software company retains most of its gains since the beginning of May when it reported its first quarter of profits as a listed entity. Two weeks ago on August 1, when Freshworks reported its Q2 or June-quarter earnings, the software company improved on its Q1 numbers, posting higher profits on a non-GAAP basis.
This was also the first time Freshworks posted profits in back-to-back quarters since listing in the US two years ago. The company also exceeded analysts’ expectations on revenue and earnings and even raised its outlook a little bit for the full year 2023 from its May 2 estimate.