By Sabela Ojea
Freshworks logged a narrower loss in the fourth quarter and said revenue grew as it added more customers.
The cloud-based software-as-a-service company on Tuesday posted a net loss of $21.9 million, or 7 cents a share, compared with a loss of $28.1 million, or 9 cents a share, for the same period a year earlier.
Stripping out one-time items, the company's earnings per share came in at 14 cents. Analysts polled by FactSet had forecast adjusted earnings of 10 cents.
The company booked $9.7 million in restructuring charges, and total operating expenses of $188.9 million. In November, the company said it planned to cut roughly 660 jobs, or 13% of its workforce, by the end of 2024.
Revenue rose to $194.6 million from $160.1 million a year ago, beating the $189.4 million forecast by Wall Street.
The company guided for first-quarter revenue between $190 million and $193 million, on par with the $192.1 million analysts expect. First-quarter adjusted earnings are expected to be between 12 cents and 14 cents. Analysts expect 12 cents.
Shares rose 12% to $20 in after-hours trading.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 11, 2025 17:13 ET (22:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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