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A view of Freshworks at Global Infocity Park, Perungudi, Chennai. The Chennai and US-based firm attributed its performance to growing enterprise demand for cost-effective, AI-powered service solutions amid a challenging macroeconomic environment.
| Photo Credit:
R. Ravindran /The Hindu
Freshworks Inc, the Chennai/US-based provider of people-first Artificial Intelligence (AI) service software, in the first quarter ended March 31, 2025, reported a reduced net loss of $10 million as against $32 million in the first quarter of 2024. Revenue was up 19 per cent to $196 million ($165 million). Customers are coming to Freshworks because of the macro environment. Businesses are looking to get more efficient, at a lower total cost. Freshworks’ IT and customer service software is enterprise-grade at about a half the price of competitors, says a company press release.
AI continues to be central to their growth strategy. Today, Freshworks has 2,700 customers using Freddy AI Copilot nearly 1 million times a day to increase employee productivity. The release said it’s one of Freshworks’ 3 agentic solutions that work with both IT and CS products to help agents increase productivity by 40 per cent.
Freshworks outperformed previously provided financial estimates in Q1 with revenue growing 19 per cent year-over-year to $196 million, said Dennis Woodside, Chief Executive Officer & President of Freshworks, in a release. “We continue to outperform because businesses are choosing Freshworks for our uncomplicated customer and employee service solutions.”
The number of customers contributing more than $5,000 in annual recurring revenue was 23,275, an increase of 13 per cent year-over-year for both as reported and adjusting for constant currency.
During the quarter, the company added customers such as All3Media, Broad River Retail, Freudenberg Group, The Christie NHS Foundation Trust, and Veracode.
The release states that Freshworks launched a new global partner program during the quarter with expanded offerings for resellers and service delivery.
For the second quarter, the company expects revenue to be between $197-$200 million and full year 2025 between $815 and $824 million, the release said.
Published on April 30, 2025
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