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Freshworks (FRSH) investor relations material
Freshworks Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Q3 2025 revenue reached $215.1 million, up 15% year-over-year, with strong customer growth and AI-driven product adoption, especially Freddy AI, fueling expansion across mid-market and enterprise segments.
Nearly 75,000 customers at quarter end, with over 60% of ARR from mid-market and enterprise clients in more than 120 countries.
Non-GAAP operating margin reached 21%, and adjusted free cash flow margin was 27%.
Net loss for Q3 2025 was $4.7 million, a significant improvement from $30.0 million net loss in Q3 2024.
Gross margin improved to 85% in Q3 2025, with non-GAAP gross margin at 86%.
Financial highlights
Q3 total revenue: $215.1 million, up 15% year-over-year on both as-reported and constant currency basis.
Non-GAAP operating income: $45.2 million (21% margin); GAAP operating loss narrowed to $7.5 million.
Adjusted free cash flow: $57.2 million (27% margin), with net cash from operations at $63.5 million.
Calculated billings: $224 million, up 14% year-over-year.
Ended Q3 with $813 million in cash, cash equivalents, and marketable securities.
Outlook and guidance
Q4 2025 revenue expected between $217 million and $220 million, up 12%-16% year-over-year.
Full year 2025 revenue expected between $833.1 million and $836.1 million, up 12%-16% year-over-year.
Q4 calculated billings growth estimated at 17.5% as-reported and 14% constant currency.
Full year 2025 adjusted free cash flow expected at ~$222 million.
2026 revenue growth expected at 13%-14%, with GAAP profitability targeted by year-end.
Freddy AI product ARR doubling: key drivers?
Explain the net dollar retention rate decline.
Drivers of non-GAAP operating margin improvement?
Impact of new AI agent pricing strategy
Future capital allocation strategy
Next accelerants for EX business growth
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Next Freshworks earnings date
Q4 20254 Feb, 2026
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Q4 20254 Feb, 2026
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Freshworks Inc provides cloud-based customer engagement software solutions designed for businesses of all sizes. The company offers products for customer support, IT service management, CRM, and marketing automation, helping organizations improve customer relationships and internal operations. Freshworks serves industries such as technology, retail, financial services, and healthcare. The company is headquartered in San Mateo, California, and its shares are listed on the NASDAQ.
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