It should be mentioned that the Freshwork layoffs plan of Freshworks is expected to be finished by the end of the year.
“We began by combining teams focused on Customer Experience (CX) products, including support, sales, and marketing, and reallocating people and investments to prioritize our fastest growing Employee Experience (EX) business. These decisions were made thoughtfully and carefully to set a strong foundation for our future,” the CEO of Freshworks stated in the recent filing report.
Denis Woodside, the CEO of Freshworks became the chief executive officer back in May this year after Girish Mathrubootham decided that it was time to step down from his role after 14 years of guiding.
Recently, the Freshwork company also made an announcement that the board of directors has approved a stock buyback program of about $400 million of the company’s Class A common stock.
However, for the Q3 that ended in September, the Freshwork revenue registered an increase of 7.16% to $186.57 million compared with $174.1 million registered in the June-end quarter. But in the course of this period, the company’s net losses experienced a rise of 49% to $29.96 million in comparison with $20.1 million registered in the previous quarter, after they managed to reduce the losses by 13%.
But if we compare the Q3 of the previous year, the Freshwork revenue has increased up to 21.5% from $153.5 million and their losses decreased by 3.4% from $31 million.
In the December quarter, the company is expected to have revenue between $187.8 million and $190.8 million to reflect an 18% yearly growth. Freshworks also mentioned that their full fiscal year will most likely end with a revenue of around $713 million.
