Freshworks __full__ May 2026

| Metric | Value | Implication | |--------|-------|-------------| | | ~$650M (grew ~20% YoY) | Healthy but decelerating from 30%+ in earlier years | | Net Dollar Retention (NDR) | ~105–110% | Indicates expansion within existing customers, but below best-in-class (115%+ for Slack/Atlassian) | | Gross Margin | ~82–84% (SaaS standard) | Healthy, but cloud infrastructure costs rising with AI features | | Operating Margin | Negative but improving (loss ~10-15% of revenue) | Still burning on R&D and sales; not profitable on GAAP basis | | Free Cash Flow | Positive and growing (~$50M annually) | Self-funding growth possible; no near-term dilution risk | | Customer Count | ~68,000+ (including 2,000+ paying >$50k/year) | Heavy reliance on many small customers; enterprise penetration low |