FRSHFreshworks Inc.
Services-Prepackaged Software
- Revenue
- $839M
- 16% YoY
- Operating margin
- 1.6%
- 108% YoY
- EBITDA
- $39M
- 133% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear132% of net incomeCash flow under 80% of net income
- Dilutive SBCFired18% of revenueOver 10% of revenue
- Payouts exceed cash flowFired159% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear13% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $371M | $498M | $596M | $720M | $839M | 16% |
| Operating income | −$205M | −$233M | −$170M | −$139M | $13M | 110% |
| Net income | −$192M | −$232M | −$137M | −$95M | $184M | 293% |
| Operating cash flow | $11M | −$3M | $86M | $161M | $242M | 51% |
| Capex | $6M | $7M | $2M | $9M | $6M | 38% |
| Stock-based comp | $173M | $208M | $211M | $217M | $147M | 32% |
| Buybacks | — | $0 | $0 | $14M | $386M | 2721% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 26 | — |
| FY2024 | — | — | 34 | — |
| FY2023 | — | — | 49 | — |
| FY2022 | — | — | 31 | — |
| FY2021 | — | — | 55 | — |