all Girish, webcast. Thanks, joining us and thanks on you of to the
Girish the mentioned to we're quarter. earlier, good As finish fourth delivered a strong and year
of the all work our teams Before acknowledge Freshworks diving in execution at to into across past all our financial great results, over the I want here year.
and would job Our a really we employees have thank done them. like to tremendous really
thank So you.
I'll for full to in with for QX over and Afterward, the Now key past year forward-looking also and results of year XXXX. expectations commentary our close I'll the today's trends and some XXXX. our we for business quarter cover financial from transition fourth the call. our saw provide
strong results, through payroll transactions, focus how go impact numbers the and most Starting of business. numbers These with expenses, year existing non-GAAP we of discussion As by full of my delivered stock-based see of I to activity for amortization non-GAAP we be to related and around as up-sell continued representing XX% exclude or taxes intangibles, the in represents and expansion better leading form QX driven quarter and adjustments. additional customers. QX, on million stock I'll employee financial year-over-year our manage acquired The our agents. compensation from this In the a revenue, expansion growth for continues XXXX. healthy seats $XXX.X other we XX% of our
momentum in deals early up business quarter, closing while resulting us the business mid-market new type several closing more larger field. picked also in in Our the
requiring of revenue designed revenue, subscription our no for implementation costs. of terms contribution, is nearly as are products our on-boarding, all revenue or little easy In
maintained non-GAAP result the XX%. improved X% of the than In a revenue of of products, the second impressive and an result, of nearly realize rate mix spend in especially our infrastructure of half efficiencies revenue services revenue the less to margins XXXX. the is from QX, in full-year represented able in As our total we're for higher-margin gross ongoing This year.
million costs, expenses company prior increase hire to the across growth The over $XX.X support to continue make of non-GAAP as result is and operating to our rapid past of Our $XX.X the we increased compared business million. to majority personnel year. by the this year the of the investments
operations. for addition company In to preparing public us
legal from personnel increased sales of costs driven terms $X.X with user quarter-over-quarter conference to costs, reseller non-GAAP by QX. Non-GAAP costs, one-time and In related expenses $X.X quarter-over-quarter million commissions. a A million, comparisons, G million, coming marketing $XX.X and items to expenses in increased notable and partially settlement our
of quarter. a led loss non-GAAP All $XX.X of the to this million operating for
For loss non-GAAP the operating $XX.X full year million. was XXXX,
shares fully had of method. we approximately the XXXX, a XX, As diluted outstanding on basis treasury using million XXX December
net metrics, negatively by in Turning dollar to X% our which was was impacted due FX. to retention XXX% operating QX,
QX in positive figure. X% had in XXX% FX contrast, For the impact a
XXX and expansion of dollar retention from constant-currency range, X% good down net land to to to as expect the ticks characteristics So number we churn on feel the business. natural our about teens percentage a We basis, given in this activity QX. our low QX
of So led we the the with area I'm in Freshdesk success which, achieved trend our this an end making business, lowest to speaking with to at In initiatives, our say was teens year. our rate improvement of we're progress for improvements. high that churn, our QX, sustainable churn an pleased overall the to ongoing rates range where customer combined
second QX, of Our than ARR. customers of in more represents and contributing ending $X,XXX ARR grew customers, in at metric XX,XXX operating our XX% XX%
high contributing And X,XXX this a customer customers ending XX% more of and customers in a than ARR. represents approximately year the XX%, $XX,XXX, ARR, account customers our grew of finally, net larger For the total customers maintained over quarter. reflecting growth rate ending XX% of at of $XX,XXX X,XXX add at
a through higher or As we revenue continue the trends our base, the our to and in per business. scale and growth account average reflected to more is expansion customer in being add which is seeing revenue ARPA, multi-product we're driven
to Moving billings sheet balance and items.
growth compared increased impacted to rate and QX QX. Our in call-outs calculated XX% to Specific R. in billings this XX% growth
Our a negative up of billing X%, renewals of Early and mix X%. a positive X%. to and reserve positive activity movements adding FX duration
a normalized would So QX on the billings XX% growth to be closer basis, figure. calculated for
number a but over expect the of that can Given this believe may we rate, this impact we growth quarter-to-quarter, revenue should growth. time, of longer track figure our period is factors fluctuate
of the cash the quarter. Our in of QX, full in flow generated billion QX, We $X.X over resulting similar XXXX positive prior the cash balance cash for million equivalents of and free remained year end approximately of $X positive million. $X.X cash at to just flow at
for maintain business. to strong continue financial flexibility sheet the balance We in providing a
cash slightly to operations, amounts as approximately flow incremental We of approximately QX invest trends we to model expect to plan the positive million we quarter be $XX free recognize in also shares, end net business use QX, to approximately cash sales, which gross for lock-up available improve year full $X to cash the such, shares The to shares X.X market. $XXX to our our with cash for ESPP and front will and includes and the capture opportunities spend. release activity cash flow, tremendous Factoring million but have going be we on expect be reminder, be us. number Monday, which our it flow this of of in $X our of an vested timing be as business forward XXX a of we not shares this in a final but in year to and will equity the XX. million CapEx settle the meeting XXXX. future today, And There will negative as million net growth settle and in million approximately will This free expect net years. million impact annual negative cash shares free We specific our negative balance. eligible February quick million free and reduces reduce by efficient of relates flow tax cycle, growth negative a QX then expect in the In requirements. impact the purchases, $XX of QX One settle merit number that for balance. we cash into amount approximately total of approximately
expect an As this earlier, opportunity. Freshservice add number innovation our most enhancements important will is investing product, we for down investment experience to we expand and invest asset, year. our we for and Girish as our we this and in priorities more the have What CRM doubling We're market address also a our customer important in mentioned key to that capabilities as business further ITOM of the and XXXX We're means people. on product view market. ongoing
Given and talent many trends, in upcoming to the we, current increase like the year. the companies, attracting cost macro retaining expect other best and employment of environment the
forward. and current U.S. These of third revenue quarter is growth we negative ‘XX. Today both on to approximately X% rates point our to have based expect has dollars. the have a estimates in factored currency all approximately stronger U.S. revenue with first or into FY in a impacts exposure Additionally, been FX our our for not collected and of impact going dollar,
So forward-looking now guidance. to our let me turn
approximately per to be to range shares in a the $X.XX, of be of XX.X quarter of operations in Non-GAAP $XXX to million. average million million XXXX, net in revenue non-GAAP and the first million. $XXX loss from million of of we range the share assuming expect weighted $XX.X be the to range outstanding loss $X.XX to For -GAAP XXX.X to
range XXXX, in to of full the shares million and weighted of in expect XXX.X in the $X.XX, share non-GAAP to approximately be range million $XX.X per to year range million. to million the of be operations $XXX be to non-GAAP we of the from For outstanding million, revenue assuming $XXX.X loss loss net average $XX.X to $X.XX
Let looking by take finished saying XXXX. that we're about the XXXX, we're year we how a excited that, to close your let's in With super year Operator. forward me great and questions.
