Tearsheet

Freshworks (FRSH)


Market Price (6/23/2026): $8.94 | Market Cap: $2.5 BilSector: Information Technology | Industry: Application Software

Freshworks (FRSH)


Market Price (6/23/2026): $8.94
Market Cap: $2.5 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, FCF Yield is 8.8%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30%

Low stock price volatility
Vol 12M is 46%

Megatrend and thematic drivers
Megatrends include Cloud Computing, Automation & Robotics, and Artificial Intelligence. Themes include Software as a Service (SaaS), Show more.

Weak multi-year price returns
2Y Excs Rtn is -65%, 3Y Excs Rtn is -119%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 163x

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 16%

Key risks
FRSH key risks include [1] intense competition and challenges monetizing its AI investments, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, FCF Yield is 8.8%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%
3 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30%
4 Low stock price volatility
Vol 12M is 46%
5 Megatrend and thematic drivers
Megatrends include Cloud Computing, Automation & Robotics, and Artificial Intelligence. Themes include Software as a Service (SaaS), Show more.
6 Weak multi-year price returns
2Y Excs Rtn is -65%, 3Y Excs Rtn is -119%
7 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 163x
8 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 16%
9 Key risks
FRSH key risks include [1] intense competition and challenges monetizing its AI investments, Show more.

FRSH in ETFs

Weight = FRSH's share of each fund

VTI0.00%
ITOT0.00%
IWM0.05%
VB0.03%
IWO0.10%
IGV0.07%
VBK0.06%
VTWO0.06%
+6 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/17/2026

Freshworks (FRSH) stock has gained about 15% since 2/28/2026 because of the following key factors:

1. Freshworks exceeded revenue and earnings expectations for fiscal Q1 2026. The company reported its financial results for the first fiscal quarter ended March 31, 2026, on May 5, 2026, announcing an earnings per share (EPS) of $0.11, which beat analysts' estimates of $0.08 by 37.50%. Additionally, revenue for the quarter rose 16.5% year-over-year to $228.63 million, surpassing analyst estimates of $223.64 million.

2. The company initiated a substantial $400 million share repurchase program. On February 26, 2026, Freshworks' Board of Directors authorized a stock repurchase program of up to $400 million. This program was announced as a demonstration of confidence in the company's long-term strategy, durable growth, and disciplined capital allocation.

Show more
Updated on 6/17/2026

Freshworks (FRSH) stock has gained about 15% since 2/28/2026 because of the following key factors:

1. Freshworks exceeded revenue and earnings expectations for fiscal Q1 2026. The company reported its financial results for the first fiscal quarter ended March 31, 2026, on May 5, 2026, announcing an earnings per share (EPS) of $0.11, which beat analysts' estimates of $0.08 by 37.50%. Additionally, revenue for the quarter rose 16.5% year-over-year to $228.63 million, surpassing analyst estimates of $223.64 million.

2. The company initiated a substantial $400 million share repurchase program. On February 26, 2026, Freshworks' Board of Directors authorized a stock repurchase program of up to $400 million. This program was announced as a demonstration of confidence in the company's long-term strategy, durable growth, and disciplined capital allocation.

3. Sustained profitability and robust free cash flow underscored financial health. Freshworks achieved GAAP profitability in fiscal year 2025 and generated over $223 million in free cash flow, nearly tripling from fiscal year 2023. For fiscal Q1 2026, the company reported operating cash flow of approximately $62.4 million and free cash flow of about $55.1 million, indicating continued cash generation despite a small net loss. The company also maintained strong gross margins around 85%.

4. Strategic emphasis on Artificial Intelligence (AI) and the Employee Experience (EX) business segment fueled positive sentiment. Freshworks has been highlighting its advancements in AI, including Freddy AI and the unveiling of AI Agent Studio in Freshservice. The company also noted that its EX business crossed half a billion dollars in annual recurring revenue in fiscal year 2025, and continued focus on AI-powered software and targeting larger customers is viewed as a promising strategy for future revenue growth.

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Stock Movement Drivers

Fundamental Drivers

The 14.2% change in FRSH stock from 2/28/2026 to 6/22/2026 was primarily driven by a 16.7% change in the company's P/E Multiple.
(LTM values as of)22820266222026Change
Stock Price ($)7.828.9314.2%
Change Contribution By: 
Total Revenues ($ Mil)8398713.9%
Net Income Margin (%)21.9%20.7%-5.6%
P/E Multiple12.014.016.7%
Shares Outstanding (Mil)283283-0.2%
Cumulative Contribution14.2%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/22/2026
ReturnCorrelation
FRSH14.2% 
Market (SPY)8.8%6.1%
Sector (XLK)38.6%14.2%

Fundamental Drivers

The -26.4% change in FRSH stock from 11/30/2025 to 6/22/2026 was primarily driven by a -32.2% change in the company's P/S Multiple.
(LTM values as of)113020256222026Change
Stock Price ($)12.148.93-26.4%
Change Contribution By: 
Total Revenues ($ Mil)8118717.5%
P/S Multiple4.32.9-32.2%
Shares Outstanding (Mil)2862831.0%
Cumulative Contribution-26.4%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/22/2026
ReturnCorrelation
FRSH-26.4% 
Market (SPY)9.5%16.7%
Sector (XLK)34.6%21.3%

Fundamental Drivers

The -41.5% change in FRSH stock from 5/31/2025 to 6/22/2026 was primarily driven by a -52.6% change in the company's P/S Multiple.
(LTM values as of)53120256222026Change
Stock Price ($)15.278.93-41.5%
Change Contribution By: 
Total Revenues ($ Mil)75287115.9%
P/S Multiple6.12.9-52.6%
Shares Outstanding (Mil)3012836.3%
Cumulative Contribution-41.5%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/22/2026
ReturnCorrelation
FRSH-41.5% 
Market (SPY)27.7%22.8%
Sector (XLK)67.4%23.0%

Fundamental Drivers

The -43.3% change in FRSH stock from 5/31/2023 to 6/22/2026 was primarily driven by a -66.9% change in the company's P/S Multiple.
(LTM values as of)53120236222026Change
Stock Price ($)15.768.93-43.3%
Change Contribution By: 
Total Revenues ($ Mil)52187167.2%
P/S Multiple8.82.9-66.9%
Shares Outstanding (Mil)2902832.4%
Cumulative Contribution-43.3%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/22/2026
ReturnCorrelation
FRSH-43.3% 
Market (SPY)85.1%37.6%
Sector (XLK)138.8%34.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
FRSH Return-45%-44%60%-31%-24%-28%-81%
Peers Return-8%-34%-15%89%-46%-1%-47%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
FRSH Win Rate25%33%67%25%50%50% 
Peers Win Rate50%25%52%78%53%47% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
FRSH Max Drawdown--59%-28%-54%-45%-44% 
Peers Max Drawdown-27%-42%-17%-55%-62%-43% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ADSK, HIT, BMR, QNT, RTB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/22/2026 (YTD)

How Low Can It Go

EventFRSHS&P 500
2024 Yen Carry Trade Unwind
  % Loss-10.8%-7.8%
  % Gain to Breakeven12.1%8.5%
  Time to Breakeven90 days18 days
2023 SVB Regional Banking Crisis
  % Loss-21.2%-6.7%
  % Gain to Breakeven26.9%7.1%
  Time to Breakeven33 days31 days

Compare to ADSK, HIT, BMR, QNT, RTB

In The Past

Freshworks's stock fell -10.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 12.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventFRSHS&P 500
2023 SVB Regional Banking Crisis
  % Loss-21.2%-6.7%
  % Gain to Breakeven26.9%7.1%
  Time to Breakeven33 days31 days

Compare to ADSK, HIT, BMR, QNT, RTB

In The Past

Freshworks's stock fell -10.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 12.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Freshworks (FRSH)

Freshworks Inc. (FRSH) is a global software development company that provides modern Software-as-a-Service (SaaS) products. The company's core business revolves around equipping businesses worldwide with a comprehensive suite of cloud-based applications designed to improve customer engagement, streamline sales and marketing efforts, and enhance internal operational efficiency, particularly in IT service management and human resources.

The company's diverse product portfolio addresses key business functions. For customer support and interaction, Freshworks offers the Freshdesk suite, providing tools for omnichannel customer service, messaging, contact center solutions, and B2B customer success management. In the sales and marketing arena, products like Freshsales offer CRM functionality, configure-price-quote (CPQ) capabilities, and AI-driven pipeline management, while Freshmarketer provides marketing automation. The Freshsales Suite unifies these sales and marketing solutions.

Beyond customer-facing applications, Freshworks also delivers robust solutions for internal operations. Freshservice leverages AI to streamline IT service delivery, and Freshteam manages the entire employee lifecycle, from recruiting to onboarding and other HR workflows. The company also offers utilities like Freshping for website monitoring and Freshstatus for creating status pages. Freshworks serves a broad market of businesses across various industries, enabling them to modernize their customer interactions, optimize sales and marketing processes, and enhance overall internal operational efficiency with intuitive, integrated software.

AI Analysis | Feedback

Here are 1-2 brief analogies for Freshworks:

  • Like HubSpot, but for a comprehensive set of business operations, from sales to HR.
  • A modern Salesforce that also handles IT and HR management.

AI Analysis | Feedback

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  • Freshdesk Support Desk: Enables businesses to manage customer service across traditional and modern communication channels.
  • Freshdesk Messaging: Offers agents a modern conversational user interface for engaging customers across web, mobile, and social messaging applications.
  • Freshdesk Contact Center: A cloud-based telephony system designed to help agents connect with customers.
  • Freshdesk Omnichannel Suite: An integrated suite for engaging and tracking customers across both digital and traditional communication channels.
  • Freshdesk Customer Success: Supports customer success managers in B2B subscription companies.
  • Freshsales: Provides configure-price-quote functionality and AI-driven pipeline management to enhance sales performance.
  • Freshmarketer: A marketing automation solution aimed at acquiring, engaging, and retaining customers.
  • Freshsales Suite: A unified sales and marketing solution that allows businesses to engage and track customers.
  • Freshservice: Offers AI-powered service management capabilities to streamline IT service delivery within organizations.
  • Freshteam: An HR Management solution designed to manage the entire employee lifecycle, including recruiting, onboarding, and other HR workflows.
  • Freshping: A solution for monitoring website availability, providing alerts and status pages.
  • Freshstatus: Allows businesses to create custom branded website status pages.
  • Freshworks Neo: A platform that enables customers to extend and integrate Freshworks solutions to fit their specific business processes.
```

AI Analysis | Feedback

Freshworks (FRSH) sells primarily to other companies (B2B). The provided background information describes the functionality and target users of Freshworks' products, indicating that its customers are businesses and organizations across various industries. These customers typically include:

  • Companies requiring comprehensive customer support solutions, including omnichannel engagement, messaging, and contact center capabilities.
  • B2B subscription companies looking for customer success management tools.
  • Businesses seeking sales and marketing automation, CRM, and AI-driven pipeline management functionalities.
  • Organizations aiming to streamline IT service delivery and asset management with AI-powered service management capabilities.
  • Businesses needing HR management solutions for managing the entire employee lifecycle, including recruiting and employee onboarding.
  • Businesses requiring website monitoring and status page solutions.

The background information does not list the specific names of Freshworks' major customer companies.

AI Analysis | Feedback

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AI Analysis | Feedback

Dennis Woodside, CEO and President

Dennis Woodside is the CEO and President of Freshworks, joining as President in 2022 and becoming CEO in May 2024. He has over two decades of experience at innovative Silicon Valley companies. His previous roles include Chief Operating Officer of Dropbox, where he was instrumental in the company's growth and successful IPO. He also served as President of Impossible Foods and held sales and strategy leadership roles at Google for over 10 years, including CEO of Motorola Mobility after Google acquired the company. Woodside also began his career as a corporate lawyer and was a consultant at McKinsey & Company.

Tyler Sloat, COO and CFO

Tyler Sloat was named COO and CFO in 2024, after initially joining Freshworks as Chief Financial Officer in 2020.

Girish Mathrubootham, Founder and Executive Chairman

Girish Mathrubootham is the Founder and Executive Chairman of Freshworks. He founded Freshworks (originally Freshdesk Inc.) in 2010 and served as CEO from 2010 until 2024, leading the company from an idea to a Nasdaq-listed enterprise. He is also an active venture capital investor and advisor to more than 60 companies.

Srinivasan Raghavan, Chief Product Officer

Srini Raghavan joined Freshworks as Chief Product Officer in 2024. He brings nearly 20 years of experience in the enterprise software industry, having led teams to scale groundbreaking new products in enterprise SaaS. Prior to Freshworks, he was Chief Product Officer at RingCentral, and held senior vice president and director roles in product management at Five9 and Cisco, respectively.

Ian Tickle, Chief Revenue Officer

Ian Tickle was appointed Chief Revenue Officer in March 2026, consolidating the company's global sales team under his leadership. He previously served as Freshworks' Chief of Global Field Operations. His extensive experience includes leading sales efforts in Europe, and prior roles as President and Chief Revenue Officer at Domo and Vice President EMEA, SaaS Solutions, at Oracle.

AI Analysis | Feedback

The key risks to Freshworks (FRSH) are:

  1. Intense Competition and Evolving Market Dynamics: Freshworks operates in a highly competitive software-as-a-service (SaaS) industry, facing significant threats from both established players like Salesforce, Microsoft, ServiceNow, HubSpot, and Zendesk, as well as new market entrants. This competitive pressure necessitates continuous innovation and adaptation to maintain its market position and pricing power. The broader SaaS sector is also experiencing "sector headwinds," with some analysts referring to a "SaaSapocalypse," indicating a challenging external environment. Furthermore, while Freshworks is integrating AI, there are concerns about the company potentially "losing ground in the AI arms race" to competitors with more advanced AI products, which could impact its ability to maintain growth and differentiation.
  2. Slowing Growth and Customer Retention: Freshworks' business model relies heavily on customer renewals and the expansion of subscriptions within its existing customer base. Recent reports highlight concerns about decelerating revenue growth rates and the company's ability to maintain high customer retention rates. The company's net revenue retention rate, while adequate, has been noted to lag behind leading SaaS businesses. Disappointing earnings guidance for 2026, implying slower growth expectations, has also led to significant drops in Freshworks' stock price, indicating investor concerns about the sustainability of its growth trajectory.
  3. Macroeconomic Uncertainties: Freshworks is exposed to macroeconomic uncertainties, including high interest rates, foreign exchange rate volatility, inflationary pressures, and the potential for global market volatility or recessions. These factors can lead to reduced IT spending by businesses, which could adversely affect Freshworks' ability to acquire new customers and expand its existing accounts, particularly in international markets. Such economic pressures could impact the company's ability to meet its growth targets and financial performance.

AI Analysis | Feedback

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AI Analysis | Feedback

Freshworks Inc. (symbol: FRSH) operates within several significant addressable markets globally for its diverse range of software-as-a-service products.

The company's overall total addressable market (TAM) has been estimated at approximately $78 billion globally, according to Gartner. Other analyses suggest Freshworks operates in a market worth over $80 billion globally. An earlier S-1 filing from Freshworks estimated its large addressable market at approximately $120 billion.

Addressable Markets for Main Products:

  • Customer Service and Support (Freshdesk Support Desk, Freshdesk Messaging, Freshdesk Contact Center, Freshdesk Omnichannel Suite, Freshdesk Customer Success): The global customer service software market was valued at $14.9 billion in 2024 and is projected to reach $68.19 billion by 2032. Another estimate places the global customer service software market at $51.3 billion in 2025, growing to $96.6 billion by 2035. Additionally, the global customer self-service software market is expected to reach $57.21 billion by 2030, and was valued at $22.02 billion in 2025, projected to increase to approximately $148.49 billion by 2035.
  • Sales Automation and CRM (Freshsales, Freshsales Suite): The global Customer Relationship Management (CRM) market size was valued at $112.91 billion in 2025 and is expected to grow to $320.99 billion by 2034. Another source indicates worldwide spending on CRM software reached $52 billion in 2023 and is forecast to reach $139 billion in 2030. In 2024, the global CRM market grew to $80 billion, with a projection to reach $106.1 billion by 2029. The global CRM market size is also projected to hit $304.03 billion by 2035 from $90.10 billion in 2025.
  • Marketing Automation (Freshmarketer): The global marketing automation software market size was valued at $11.42 billion in 2024 and is expected to reach $28.48 billion by 2032. Another projection estimates the global marketing automation market size to reach $81.01 billion by 2030 from $47.02 billion in 2025. The market was also estimated at $6.65 billion in 2024 and is projected to reach $15.58 billion by 2030.
  • IT Service Management (Freshservice): The global Information Technology Service Management (ITSM) market size was estimated at $13.46 billion in 2024 and is projected to reach $29.93 billion by 2030. Other figures indicate the global ITSM market size was estimated at $13.49 billion in 2024 and is predicted to increase to approximately $51.93 billion by 2034. The ITSM software market reached approximately $12.5 billion in 2023, with estimates for 2024 oscillating between $11.7 billion and $13.5 billion.
  • HR Management (Freshteam): The global Human Resources Management Software market size is expected to be worth around $56.23 billion by 2034, growing from $18.43 billion in 2024. Another report valued the global HR software market size at $9.19 billion in 2024, poised to grow to $16.76 billion by 2033. The global HR software market size was also estimated at $16.43 billion in 2023 and is projected to reach $36.62 billion by 2030.
  • Website Monitoring (Freshping, Freshstatus): The global website monitoring market was valued at $1.976 billion in 2025 and is anticipated to reach $3.638 billion by 2032.

AI Analysis | Feedback

Freshworks (FRSH) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Expansion of AI-Powered Solutions and Monetization: Freshworks is significantly investing in and monetizing its AI capabilities, particularly through its Freddy AI platform. AI is viewed as a standalone revenue stream expected to contribute $100 million in Annual Recurring Revenue (ARR) by 2028. The company is integrating AI across its Employee Experience (EX) and Customer Experience (CX) portfolios to enhance productivity and deliver measurable value to customers, driving adoption and expansion. Freddy AI surpassed $25 million in ARR in Q4 2025.
  2. Growth in Employee Experience (EX) and Enterprise Service Management (ESM): The Employee Experience segment, encompassing solutions like Freshservice and Enterprise Service Management, is a strong driver of growth. Freshworks' EX Annual Recurring Revenue (ARR) has shown robust growth, increasing 24% year-over-year to over $450 million in Q2 2025 and 26% year-over-year to over $510 million. The company aims for ESM to generate over $100 million in ARR within the next three years, with Freshservice for Business Teams already doubling its ARR and exceeding $35 million in Q3 2025, indicating successful expansion into non-IT departments.
  3. Increased Customer Acquisition and Expansion within Existing Accounts: Freshworks continues to focus on attracting new customers, particularly in the mid-market and enterprise segments, and expanding its relationships with existing ones. The number of customers contributing over $5,000 in ARR grew 10% year-over-year to 24,762 in Q4 2025. The company also demonstrated an improved net dollar retention rate of 108% in Q4 2025, up from 103% in Q4 2024, indicating strong customer satisfaction and increased spending from its existing client base.
  4. Strategic Product Enhancements and Acquisitions: Freshworks is enhancing its product offerings through continuous innovation and strategic acquisitions to broaden its capabilities and market reach. Recent acquisitions, such as Device42 and FireHydrant, are reinforcing the company's IT Service Management (ITSM) solutions and are expected to contribute to future growth. Device42 and Enterprise Service Management each surpassed $40 million in ARR in Q4 2025, highlighting the impact of these strategic moves.

AI Analysis | Feedback

Share Repurchases

  • Freshworks' Board of Directors authorized a stock repurchase program of up to $400 million of its outstanding Class A common stock on February 26, 2026.

Share Issuance

  • Freshworks filed a $123.80 million shelf registration tied to employee stock plans around February 26, 2026.
  • The company's initial public offering (IPO) occurred in September 2021.

Outbound Investments

  • Freshworks announced the acquisition of FireHydrant, a provider of AI-powered incident management software, in late 2025/early 2026 to reinforce its IT Service Management offerings.
  • The financial terms of the FireHydrant acquisition were not disclosed.

Capital Expenditures

  • Capital expenditures were $5.565 million in 2021, $7.129 million in 2022, and $2.069 million in 2023.
  • Forecasted capital expenditures are $9.177 million for 2024, $5.7 million for 2025, and $7.775 million for 2026.
  • Capital expenditures for property, plant & equipment in Q4 2025 amounted to $6.10 million.

Better Bets vs. Freshworks (FRSH)

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

FRSHADSKHITBMRQNTRTBMedian
NameFreshwor.Autodesk Health I.Beamr Im.Quantinu.RTB Digi. 
Mkt Price8.93187.720.981.6068.2712.4610.70
Mkt Cap2.539.60.1---2.5
Rev LTM8717,50734---871
Op Inc LTM162,027-1---16
FCF LTM2222,694-4---222
FCF 3Y Avg1641,764-1---164
CFO LTM2472,781-1---247
CFO 3Y Avg1801,8471---180

Growth & Margins

FRSHADSKHITBMRQNTRTBMedian
NameFreshwor.Autodesk Health I.Beamr Im.Quantinu.RTB Digi. 
Rev Chg LTM15.9%18.3%52.3%---18.3%
Rev Chg 3Y Avg18.7%13.8%----16.2%
Rev Chg Q16.5%18.4%9.4%---16.5%
QoQ Delta Rev Chg LTM3.9%4.2%2.3%---3.9%
Op Inc Chg LTM114.6%44.0%-197.6%---44.0%
Op Inc Chg 3Y Avg59.8%27.4%----43.6%
Op Mgn LTM1.8%27.0%-3.3%---1.8%
Op Mgn 3Y Avg-12.4%23.5%5.0%---5.0%
QoQ Delta Op Mgn LTM0.2%2.1%-7.8%---0.2%
CFO/Rev LTM28.3%37.0%-2.1%---28.3%
CFO/Rev 3Y Avg23.5%27.6%4.9%---23.5%
FCF/Rev LTM25.5%35.9%-10.4%---25.5%
FCF/Rev 3Y Avg21.4%26.3%-1.5%---21.4%

Valuation

FRSHADSKHITBMRQNTRTBMedian
NameFreshwor.Autodesk Health I.Beamr Im.Quantinu.RTB Digi. 
Mkt Cap2.539.60.1---2.5
P/S2.95.31.6---2.9
P/Op Inc162.619.5-50.6---19.5
P/EBIT162.619.5-48.1---19.5
P/E14.027.1-69.6---14.0
P/CFO10.314.2-78.9---10.3
Total Yield7.1%3.7%-1.4%---3.7%
Dividend Yield0.0%0.0%0.0%---0.0%
FCF Yield 3Y Avg5.2%3.3%----4.3%
D/E0.00.10.0---0.0
Net D/E-0.3-0.0-0.2----0.2

Returns

FRSHADSKHITBMRQNTRTBMedian
NameFreshwor.Autodesk Health I.Beamr Im.Quantinu.RTB Digi. 
1M Rtn-1.7%-22.1%9.0%-14.0%13.1%202.4%3.7%
3M Rtn9.3%-24.1%-44.7%2.6%13.1%73.1%5.9%
6M Rtn-29.2%-37.5%-32.4%-22.7%13.1%73.1%-25.9%
12M Rtn-39.4%-36.8%56.9%-49.5%13.1%73.1%-11.9%
3Y Rtn-44.9%-7.1%-80.8%-43.3%13.1%73.1%-25.2%
1M Excs Rtn-3.5%-23.5%-3.5%-13.6%12.5%170.6%-3.5%
3M Excs Rtn-3.6%-39.2%-60.4%-10.3%-1.8%58.2%-7.0%
6M Excs Rtn-39.1%-47.1%-37.5%-28.5%1.9%61.9%-33.0%
12M Excs Rtn-65.1%-61.4%38.3%-73.5%-11.9%48.1%-36.6%
3Y Excs Rtn-118.8%-83.0%-151.7%-117.4%-57.8%2.2%-100.2%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Subscription services, software licenses and maintenance829711583485361
Professional services910141311
Total839720596498371


Price Behavior

Price Behavior
Market Price$8.93 
Market Cap ($ Bil)2.5 
First Trading Date09/22/2021 
Distance from 52W High-41.9% 
   50 Days200 Days
DMA Price$8.91$10.28
DMA Trenddownup
Distance from DMA0.2%-13.1%
 3M1YR
Volatility50.1%46.0%
Downside Capture87.93176.60
Upside Capture79.8869.77
Correlation (SPY)8.7%21.1%
FRSH Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta-2.06-0.39-0.080.660.841.19
Up Beta-3.54-0.95-0.73-0.190.510.91
Down Beta-5.17-4.93-0.90-0.310.191.20
Up Capture91%97%77%90%63%132%
Bmk +ve Days13283667141432
Stock +ve Days12223462115361
Down Capture-390%4%-2%167%148%110%
Bmk -ve Days7132757109318
Stock -ve Days8192860128374

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FRSH
FRSH-41.3%45.9%-1.02-
Sector ETF (XLK)60.3%23.1%1.9721.9%
Equity (SPY)26.1%12.4%1.5921.7%
Gold (GLD)24.1%27.5%0.77-12.5%
Commodities (DBC)18.5%18.8%0.77-3.5%
Real Estate (VNQ)11.8%13.8%0.579.2%
Bitcoin (BTCUSD)-40.2%42.5%-1.0923.9%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FRSH
FRSH-28.7%58.5%-0.38-
Sector ETF (XLK)22.7%25.3%0.7946.3%
Equity (SPY)13.4%17.1%0.6147.9%
Gold (GLD)17.1%18.3%0.760.3%
Commodities (DBC)7.5%19.4%0.287.0%
Real Estate (VNQ)2.1%18.9%0.0135.5%
Bitcoin (BTCUSD)9.4%54.1%0.3729.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FRSH
FRSH-15.5%58.5%-0.38-
Sector ETF (XLK)25.6%24.7%0.9346.3%
Equity (SPY)15.4%18.0%0.7347.9%
Gold (GLD)12.2%16.1%0.620.3%
Commodities (DBC)6.0%18.0%0.267.0%
Real Estate (VNQ)5.4%20.7%0.2335.5%
Bitcoin (BTCUSD)59.9%66.8%1.0029.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity22.7 Mil
Short Interest: % Change Since 51520260.2%
Average Daily Volume11.0 Mil
Days-to-Cover Short Interest2.1 days
Basic Shares Quantity283.3 Mil
Short % of Basic Shares8.0%

Earnings Returns History

Updated 6/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/2026-3.3%-7.5%4.4%
11/5/2025-1.9%5.2%16.0%
7/29/2025-2.4%-3.2%-2.2%
4/29/20253.0%-0.4%4.5%
2/11/2025-0.3%-1.2%-19.7%
11/6/202428.5%27.0%26.9%
7/30/2024-5.9%-16.0%-12.4%
5/1/2024-19.6%-24.3%-29.4%
...
SUMMARY STATS   
# Positive688
# Negative121010
Median Positive5.8%5.4%15.7%
Median Negative-3.2%-10.9%-13.7%
Max Positive28.5%27.0%26.9%
Max Negative-19.6%-24.3%-35.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/2026-3.3%-7.5%4.4%
11/5/2025-1.9%5.2%16.0%
7/29/2025-2.4%-3.2%-2.2%
4/29/20253.0%-0.4%4.5%
2/11/2025-0.3%-1.2%-19.7%
11/6/202428.5%27.0%26.9%
7/30/2024-5.9%-16.0%-12.4%
5/1/2024-19.6%-24.3%-29.4%
2/6/2024-3.1%-4.9%-15.0%
10/31/2023-2.2%5.5%11.6%
8/1/202318.5%17.6%20.0%
5/2/20230.3%4.5%20.5%
2/7/20233.3%1.2%-10.8%
11/1/2022-7.0%3.0%15.4%
8/2/20228.4%7.6%-2.4%
5/3/2022-0.8%-14.6%-4.2%
2/10/2022-18.0%-14.3%-24.8%
11/2/2021-14.0%-22.1%-35.5%
SUMMARY STATS   
# Positive688
# Negative121010
Median Positive5.8%5.4%15.7%
Median Negative-3.2%-10.9%-13.7%
Max Positive28.5%27.0%26.9%
Max Negative-19.6%-24.3%-35.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/26/202610-K
09/30/202511/05/202510-Q
06/30/202507/29/202510-Q
03/31/202504/29/202510-Q
12/31/202402/20/202510-K
09/30/202411/06/202410-Q
06/30/202407/30/202410-Q
03/31/202405/01/202410-Q
12/31/202302/16/202410-K
09/30/202310/31/202310-Q
06/30/202308/02/202310-Q
03/31/202305/04/202310-Q
12/31/202202/23/202310-K
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/26/202610-K
09/30/202511/05/202510-Q
06/30/202507/29/202510-Q
03/31/202504/29/202510-Q
12/31/202402/20/202510-K
09/30/202411/06/202410-Q
06/30/202407/30/202410-Q
03/31/202405/01/202410-Q
12/31/202302/16/202410-K
09/30/202310/31/202310-Q
06/30/202308/02/202310-Q
03/31/202305/04/202310-Q
12/31/202202/23/202310-K
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
03/31/202205/06/202210-Q
12/31/202102/23/202210-K
09/30/202111/05/202110-Q
06/30/202109/22/2021424B4

Recent Forward Guidance

Updated 6/1/2026

Latest: Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue232.00 Mil233.50 Mil235.00 Mil6.9% Higher NewActual: 218.50 Mil for Q4 2025
Q2 2026 Revenue Growth13.0%14.0%15.0%12.0%1.5%Higher NewActual: 12.5% for Q4 2025
Q2 2026 Non-GAAP income from operations41.00 Mil42.00 Mil43.00 Mil32.9% Higher NewActual: 31.60 Mil for Q4 2025
Q2 2026 Non-GAAP net income per share 0.13 18.2% Higher NewActual: 0.11 for Q4 2025
2026 Revenue958.00 Mil961.00 Mil964.00 Mil15.1% Higher NewActual: 834.60 Mil for 2025
2026 Revenue Growth14.0%14.5%15.0%-9.4%-1.5%Lower NewActual: 16.0% for 2025
2026 Non-GAAP income from operations207.00 Mil211.00 Mil215.00 Mil25.6% Higher NewActual: 168.00 Mil for 2025
2026 Non-GAAP net income per share0.610.620.63-1.6% Lower NewActual: 0.63 for 2025

Prior: Q3 2025 Earnings Reported 11/5/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Revenue217.00 Mil218.50 Mil220.00 Mil4.8% Higher NewGuidance: 208.50 Mil for Q3 2025
Q4 2025 Revenue Growth12.0%12.5%13.0%8.7%1.0%Higher NewGuidance: 11.5% for Q3 2025
Q4 2025 Non-GAAP income from operations30.60 Mil31.60 Mil32.60 Mil-1.9% Lower NewGuidance: 32.20 Mil for Q3 2025
Q4 2025 Non-GAAP net income per share0.10.110.12-15.4% Lower NewGuidance: 0.13 for Q3 2025
2025 Revenue833.10 Mil834.60 Mil836.10 Mil1.1% RaisedGuidance: 825.90 Mil for 2025
2025 Revenue Growth 16.0% 10.3%1.5%RaisedGuidance: 14.5% for 2025
2025 Non-GAAP income from operations167.00 Mil168.00 Mil169.00 Mil8.4% RaisedGuidance: 155.00 Mil for 2025
2025 Non-GAAP net income per share0.620.630.6410.5% RaisedGuidance: 0.57 for 2025

Insider Activity

Updated 6/18/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lawrence, PhilippaChief Accounting OfficerDirectSell61820269.1810,53096,6654,276,255Form
2Yamamoto, MikaChief Integr Cust Growth OffcrDirectSell30520268.4532,577275,2769,529,259Form
3Woodside, DennisCEO & PresidentDirectBuy30320267.95125,000993,75023,884,280Form
4Lawrence, PhilippaChief Accounting OfficerDirectSell106202611.617658,8825,926,708Form
5Yamamoto, MikaCHIEF CUST & MARKETING OFFICERDirectSell1209202513.0015,012195,1566,374,550Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lawrence, PhilippaChief Accounting OfficerDirectSell61820269.1810,53096,6654,276,255Form
2Yamamoto, MikaChief Integr Cust Growth OffcrDirectSell30520268.4532,577275,2769,529,259Form
3Woodside, DennisCEO & PresidentDirectBuy30320267.95125,000993,75023,884,280Form
4Lawrence, PhilippaChief Accounting OfficerDirectSell106202611.617658,8825,926,708Form
5Yamamoto, MikaCHIEF CUST & MARKETING OFFICERDirectSell1209202513.0015,012195,1566,374,550Form
6Lawrence, PhilippaChief Accounting OfficerDirectSell1203202512.065,84670,5034,736,095Form
7Lawrence, PhilippaChief Accounting OfficerDirectSell1118202512.056447,7604,976,060Form
8Sloat, TylerChief Financial & Oper OfficerDirectBuy1112202511.62171,6151,994,16613,354,215Form
9Woodside, DennisCEO & PresidentDirectBuy1112202511.31176,1001,991,69123,881,257Form
10Lawrence, PhilippaChief Accounting OfficerDirectSell1006202511.458669,9164,728,289Form
11Lawrence, PhilippaChief Accounting OfficerDirectSell917202512.532,59032,4535,211,841Form
12Taylor, Jennifer H DirectSell911202512.964,68560,718573,065Form
13Yamamoto, MikaCHIEF CUST & MARKETING OFFICERDirectSell908202513.007159,2956,932,614Form
14Nelson, Zachary DirectSell903202513.148,433110,810510,752Form
15Yamamoto, MikaCHIEF CUST & MARKETING OFFICERDirectSell903202513.184,28956,5297,038,028Form
16Padgett, Barry L DirectSell902202513.1378010,241428,498Form
17Taylor, Jennifer H DirectSell812202512.534,69058,766554,052Form
18Padgett, Barry L DirectSell805202513.0778010,195426,539Form
19Yamamoto, MikaCHIEF CUST & MARKETING OFFICERDirectSell805202513.004,28955,7577,360,574Form
20Nelson, Zachary DirectSell805202513.018,432109,700505,699Form
21Taylor, Jennifer H DirectSell711202514.274,68566,855630,991Form
22Padgett, Barry L DirectSell703202515.1578511,893494,420Form
23Flower, Johanna DirectSell703202514.808,000118,400711,791Form
24Nelson, Zachary DirectSell703202514.808,433124,808575,276Form
25Yamamoto, MikaCHIEF CUST & MARKETING OFFICERDirectSell703202515.054,28964,5498,585,829Form
26Padgett, Barry L DirectSell703202515.147,558114,428494,094Form
27Taylor, Jennifer H DirectSell702202515.137,558114,353669,018Form
28Mathrubootham, RathnagirishEXECUTIVE CHAIRMANDirectSell611202516.0170,9971,136,66211,599,485Form
29Mathrubootham, RathnagirishEXECUTIVE CHAIRMANDirectSell611202516.0055,800892,80011,592,240Form
30Taylor, Jennifer H DirectSell611202515.924,69074,665603,288Form
31Mathrubootham, RathnagirishEXECUTIVE CHAIRMANDirectSell611202516.003,38654,17611,914,352Form
32Flower, Johanna DirectSell611202516.003,81060,960674,480Form
33Yamamoto, MikaCHIEF CUST & MARKETING OFFICERDirectSell606202515.501,76527,3588,909,028Form
34Yamamoto, MikaCHIEF CUST & MARKETING OFFICERDirectSell603202515.133,57454,0758,723,065Form
35Nelson, Zachary DirectSell603202515.108,442127,474375,839Form
Core Cache Last Updated: 6/22/2026