BENGALURU: Software company Freshworks has reported GAAP (loss) from operations in the quarter ended March 31, 2022 at $47.1 million compared to $1.7 million in the same quarter last year. Its total revenue was $114.6 million, a 42% growth, compared to the March quarter last year.
Nasdaq-listed Freshworks’s non-GAAP (loss) from operations stood at $0.6 million. Its number of customers contributing over $5,000 in ARR was 15,639, an increase of 27% y-o-y. The company said its Net dollar retention rate was 115%, compared to 114% in the previous quarter.
The company, which follows the calendar year, says it expects total revenue of $117 million-$119 million in the second quarter and Non-GAAP loss from operations of $18.5 million - $16.5 million. For full year 2022, it expects total revenue of $495.5 million - $501.5 million.
“We’re off to a strong start to the year with Q1 revenue growth of 42% y-o-y,” said Girish Mathrubootham, CEO and founder of Freshworks. “We made progress on our 2022 product priorities with the launch of Freshworks CRM for e-commerce,” he added.