2023 Q4 Form 10-K Financial Statement

#000154452224000012 Filed on February 16, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $160.1M $596.4M
YoY Change 20.23% 19.77%
Cost Of Revenue $27.01M $103.4M
YoY Change 7.37% 7.93%
Gross Profit $133.1M $493.1M
YoY Change 23.23% 22.58%
Gross Profit Margin 83.13% 82.67%
Selling, General & Admin $137.3M $525.5M
YoY Change 2.5% 5.08%
% of Gross Profit 103.16% 106.57%
Research & Development $35.83M $137.8M
YoY Change 3.39% 1.63%
% of Gross Profit 26.92% 27.94%
Depreciation & Amortization $3.044M $12.14M
YoY Change 3.89% 5.56%
% of Gross Profit 2.29% 2.46%
Operating Expenses $173.1M $663.2M
YoY Change 2.68% 4.35%
Operating Profit -$40.04M -$170.2M
YoY Change -33.93% -27.08%
Interest Expense $13.13M $45.90M
YoY Change 81.1% 210.71%
% of Operating Profit
Other Income/Expense, Net $14.72M $46.40M
YoY Change 47.55% 268.8%
Pretax Income -$25.33M -$123.8M
YoY Change -49.98% -43.94%
Income Tax $2.755M $13.67M
% Of Pretax Income
Net Earnings -$28.08M -$137.4M
YoY Change -49.38% -40.79%
Net Earnings / Revenue -17.54% -23.04%
Basic Earnings Per Share -$0.47
Diluted Earnings Per Share -$0.09 -$0.47
COMMON SHARES
Basic Shares Outstanding 293.1M shares
Diluted Shares Outstanding 293.1M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.188B $1.188B
YoY Change 3.5% 3.5%
Cash & Equivalents $488.1M $488.1M
Short-Term Investments $699.5M $699.5M
Other Short-Term Assets $70.74M $70.74M
YoY Change 19.79% 19.79%
Inventory
Prepaid Expenses
Receivables $97.18M $97.18M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.356B $1.356B
YoY Change 6.15% 6.15%
LONG-TERM ASSETS
Property, Plant & Equipment $55.50M $55.50M
YoY Change 129.9% -2.92%
Goodwill $6.181M
YoY Change 0.0%
Intangibles $0.00
YoY Change -100.0%
Long-Term Investments
YoY Change
Other Assets $39.55M $39.55M
YoY Change 248.94% -0.03%
Total Long-Term Assets $101.2M $101.2M
YoY Change -1.92% -1.92%
TOTAL ASSETS
Total Short-Term Assets $1.356B $1.356B
Total Long-Term Assets $101.2M $101.2M
Total Assets $1.457B $1.457B
YoY Change 5.55% 5.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.485M $3.485M
YoY Change -41.01% -41.01%
Accrued Expenses $56.61M $56.61M
YoY Change -4.07% -4.07%
Deferred Revenue $266.4M
YoY Change 29.56%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $327.2M $327.2M
YoY Change 20.44% 20.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $57.30M $57.30M
YoY Change 100.81% 1.04%
Total Long-Term Liabilities $57.30M $57.30M
YoY Change 100.81% 1.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $327.2M $327.2M
Total Long-Term Liabilities $57.30M $57.30M
Total Liabilities $384.5M $384.5M
YoY Change 17.09% 17.09%
SHAREHOLDERS EQUITY
Retained Earnings -$3.641B
YoY Change 3.92%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.072B $1.072B
YoY Change
Total Liabilities & Shareholders Equity $1.457B $1.457B
YoY Change 5.55% 5.55%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$28.08M -$137.4M
YoY Change -49.38% -40.79%
Depreciation, Depletion And Amortization $3.044M $12.14M
YoY Change 3.89% 5.56%
Cash From Operating Activities $30.87M $86.18M
YoY Change 330.7% -3512.99%
INVESTING ACTIVITIES
Capital Expenditures $2.270M $8.340M
YoY Change -27.45% 16.99%
Acquisitions
YoY Change
Other Investing Activities $14.49M $166.8M
YoY Change -112.01% -161.21%
Cash From Investing Activities $12.22M $158.5M
YoY Change -109.87% -155.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.989M $7.359M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.21M -60.62M
YoY Change 13.5% -61.23%
NET CHANGE
Cash From Operating Activities 30.87M 86.18M
Cash From Investing Activities 12.22M 158.5M
Cash From Financing Activities -13.21M -60.62M
Net Change In Cash 29.88M 184.1M
YoY Change -123.3% -141.48%
FREE CASH FLOW
Cash From Operating Activities $30.87M $86.18M
Capital Expenditures $2.270M $8.340M
Free Cash Flow $28.60M $77.84M
YoY Change 608.22% -906.28%

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CY2022 frsh Proceeds From Sale Of Equity Securities Without Readily Determinable Fair Value
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CY2021 frsh Proceeds From Sale Of Equity Securities Without Readily Determinable Fair Value
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CY2023 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2023 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Proceeds From Issuance Initial Public Offering
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CY2021 us-gaap Proceeds From Issuance Initial Public Offering
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CY2022 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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CY2021 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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649533000 usd
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Restricted Cash Current
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CY2022Q4 us-gaap Restricted Cash Current
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CY2022Q4 us-gaap Restricted Cash Noncurrent
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CY2021Q4 us-gaap Restricted Cash Noncurrent
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488216000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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304158000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Income Taxes Paid Net
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CY2022 us-gaap Income Taxes Paid Net
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CY2021 us-gaap Income Taxes Paid Net
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2022 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2021 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2022 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
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CY2021 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
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CY2023 frsh Stock Issued During Period Value Conversion Of Convertible Securities Non Cash Activity
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNonCashActivity
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CY2022 frsh Stock Issued During Period Value Conversion Of Convertible Securities Non Cash Activity
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CY2021 frsh Stock Issued During Period Value Conversion Of Convertible Securities Non Cash Activity
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CY2023 us-gaap Nature Of Operations
NatureOfOperations
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1. Description of Business</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Freshworks Inc. (Freshworks or the Company) is a software development company that provides software-as-a-service (SaaS) products that deliver modern and innovative AI-guided customer and employee service solutions that enable companies of all sizes to drive delightful engagement and increase productivity. The Company was incorporated in Delaware in 2010 and is headquartered in San Mateo, California, and has foreign subsidiaries located in India, Australia, the United Kingdom, Ireland, Germany, France, the Netherlands, and Singapore.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Initial Public Offering</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2021, the Company completed its initial public offering (IPO), in which it issued and sold 31,350,000 shares of its newly authorized Class A common stock at $36.00 per share, which included 2,850,000 shares issued upon the exercise of the underwriters’ option to purchase additional shares. The Company received proceeds of approximately $1.1 billion from the IPO, net of underwriters’ discounts and offering expenses. As of December 31, 2021, deferred offering costs totaling $7.3 million were reclassified to stockholders' equity (deficit) as a reduction of the net proceeds from the IPO.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon completion of the IPO, certain shares of Class B common stock then outstanding (excluding shares of Class B common stock issued upon conversion and reclassification of the redeemable convertible preferred stock described below) were automatically converted to Class A common stock on a one-to-one basis, unless an option to remain as Class B common stock was elected by the holder. In addition, all shares of redeemable convertible preferred stock then outstanding were converted into 153,937,730 shares of common stock on a one-to-one basis and then reclassified into Class B common stock. </span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As detailed in Note 9—</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Stockholders' Equity and Stock-Based Compensation</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, under the 2011 Stock Plan, the Company granted employees restricted stock units (RSUs) with both a service and a liquidity performance condition. Upon the Company's IPO in September 2021, the liquidity event condition was met for all RSUs and the Company began to recognize stock-based compensation expense. RSUs that had already met the service condition at that date were entitled to one share of Class B common stock for each vested RSU. </span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Stock Split</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2021, the Company completed a 10-for-one forward stock split of the Company’s authorized, issued and outstanding stock. All share and per share information included in the accompanying consolidated financial statements and notes thereto has been adjusted on a retrospective basis to reflect this stock split.</span></div>
CY2021Q3 us-gaap Proceeds From Issuance Initial Public Offering
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1100000000 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
7300000 usd
CY2021Q3 frsh Common Stock Convertible Conversion Ratio
CommonStockConvertibleConversionRatio
1
CY2021Q3 us-gaap Preferred Stock Convertible Conversion Ratio
PreferredStockConvertibleConversionRatio
1
CY2021Q3 frsh Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Issued For Each Vested Restricted Stock Unit In Satisfaction Of Service Condition
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesIssuedForEachVestedRestrictedStockUnitInSatisfactionOfServiceCondition
1 shares
CY2021Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
10
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">date of the consolidated financial statements, and the reported amounts of income and expense during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, the following:</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">determination of standalone selling price (SSP) for each distinct performance obligation included in customer contracts with multiple performance obligations; </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">allowance for doubtful accounts;</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">expected benefit period of deferred contract acquisition costs;</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">capitalization of internal-use software development costs;</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">fair value of goodwill;</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">useful lives of long-lived assets;</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">valuation of deferred tax assets;</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">valuation of employee defined benefit plan and other compensation liabilities; </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">fair value of share-based awards, including performance-based awards; and</span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">incremental borrowing rate used for operating leases.</span></div>
CY2023 us-gaap Advertising Expense
AdvertisingExpense
41200000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
47200000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
41200000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Risk</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially expose the Company to significant concentration of credit risk consist primarily of cash, cash equivalents, marketable securities, and accounts receivable. The Company’s cash and cash equivalents and marketable securities are generally held with large financial institutions and are in excess of the federally insured limits provided on such deposits. In addition, the Company has cash and cash equivalents held in international bank accounts, which are denominated primarily in Euros, British Pounds, and Indian Rupees.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no customers that individually exceeded 10% of the Company’s revenue for the years ended December 31, 2023, 2022, and 2021 or that represented 10% or more of the Company’s consolidated accounts receivable balance as of December 31, 2023 and 2022.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company primarily relies upon its third-party cloud infrastructure partner, Amazon Web Services (AWS), to serve customers and operate certain aspects of its services. Any disruption of this cloud infrastructure partner would impact the Company's operations and its business could be adversely impacted.</span></div>
CY2023Q4 us-gaap Capitalized Contract Cost Amortization Period
CapitalizedContractCostAmortizationPeriod
P3Y
CY2023 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2021 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2022 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
11900000 usd
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
9600000 usd
CY2023Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
10500000 usd
CY2022Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
8600000 usd
CY2023Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
1400000 usd
CY2022Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
1000000 usd
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
12844000 usd
CY2023Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
42672000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
39675000 usd
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
29647000 usd
CY2023Q4 frsh Cash Equivalents And Available For Sale Debt Securities Amortized Cost
CashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCost
1061129000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1005000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
596432000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
497999000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
371022000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
205626000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
160173000 usd
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
104184000 usd
CY2023 frsh Contract With Customer Liability Increase From Billings During The Period
ContractWithCustomerLiabilityIncreaseFromBillingsDuringThePeriod
657205000 usd
CY2022 frsh Contract With Customer Liability Increase From Billings During The Period
ContractWithCustomerLiabilityIncreaseFromBillingsDuringThePeriod
543452000 usd
CY2021 frsh Contract With Customer Liability Increase From Billings During The Period
ContractWithCustomerLiabilityIncreaseFromBillingsDuringThePeriod
427011000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
596432000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
497999000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
371022000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
266399000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
205626000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
160173000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
204800000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
158700000 usd
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
103800000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
418900000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
309800000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
39675000 usd
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
29647000 usd
CY2020Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
18273000 usd
CY2023 frsh Capitalized Contract Cost Amount Capitalized
CapitalizedContractCostAmountCapitalized
26962000 usd
CY2022 frsh Capitalized Contract Cost Amount Capitalized
CapitalizedContractCostAmountCapitalized
28560000 usd
CY2021 frsh Capitalized Contract Cost Amount Capitalized
CapitalizedContractCostAmountCapitalized
24218000 usd
CY2023 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
23965000 usd
CY2022 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
18532000 usd
CY2023 us-gaap Depreciation
Depreciation
6735000 usd
CY2022 us-gaap Depreciation
Depreciation
6720000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1331000 usd
CY2023Q4 frsh Cash Equivalents And Debt Securities Available For Sale Excluding Accrued Interest
CashEquivalentsAndDebtSecuritiesAvailableForSaleExcludingAccruedInterest
1060803000 usd
CY2022Q4 frsh Cash Equivalents And Available For Sale Debt Securities Amortized Cost
CashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCost
1095190000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
77000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7508000 usd
CY2022Q4 frsh Cash Equivalents And Debt Securities Available For Sale Excluding Accrued Interest
CashEquivalentsAndDebtSecuritiesAvailableForSaleExcludingAccruedInterest
1087759000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
221212000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
582000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
136056000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
749000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
357268000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
1331000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
442071000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
4494000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
170733000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
3014000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
612804000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
7508000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss Current
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLossCurrent
4400000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss Current
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLossCurrent
2800000 usd
CY2021Q3 frsh Proceeds From Sale Of Equity Securities Without Readily Determinable Fair Value
ProceedsFromSaleOfEquitySecuritiesWithoutReadilyDeterminableFairValue
24000000 usd
CY2021Q3 frsh Gain Loss On Debt Securities And Sale Of Equity Securities Without Readily Determinable Fair Value
GainLossOnDebtSecuritiesAndSaleOfEquitySecuritiesWithoutReadilyDeterminableFairValue
23800000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
66017000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
56443000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
43270000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
32304000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22747000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
24139000 usd
CY2023 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
8029000 usd
CY2022 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
6781000 usd
CY2021 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
4137000 usd
CY2023 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
5106000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3193000 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2542000 usd
CY2021 us-gaap Depreciation
Depreciation
6423000 usd
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
14100000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
11200000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
20976000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
20192000 usd
CY2023Q4 frsh Accrued Third Party Cloud Infrastructure Expense Current
AccruedThirdPartyCloudInfrastructureExpenseCurrent
0 usd
CY2022Q4 frsh Accrued Third Party Cloud Infrastructure Expense Current
AccruedThirdPartyCloudInfrastructureExpenseCurrent
2752000 usd
CY2023Q4 frsh Accrued Reseller Commissions Current
AccruedResellerCommissionsCurrent
9641000 usd
CY2022Q4 frsh Accrued Reseller Commissions Current
AccruedResellerCommissionsCurrent
7731000 usd
CY2023Q4 frsh Accrued Advertising And Marketing Current
AccruedAdvertisingAndMarketingCurrent
2095000 usd
CY2022Q4 frsh Accrued Advertising And Marketing Current
AccruedAdvertisingAndMarketingCurrent
4465000 usd
CY2023Q4 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
4265000 usd
CY2022Q4 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
3480000 usd
CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
10964000 usd
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
7730000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2699000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6775000 usd
CY2023Q4 frsh Accrued Employee Contributions Withheld For Employee Stock Purchase Plan Current
AccruedEmployeeContributionsWithheldForEmployeeStockPurchasePlanCurrent
1298000 usd
CY2022Q4 frsh Accrued Employee Contributions Withheld For Employee Stock Purchase Plan Current
AccruedEmployeeContributionsWithheldForEmployeeStockPurchasePlanCurrent
1546000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4670000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4337000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
56608000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
59008000 usd
CY2023Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
22700000 usd
CY2022Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
23300000 usd
CY2023Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P6Y
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
10415000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
8312000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
415000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1162000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
3190000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
2797000 usd
CY2021 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
9700000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M15D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M21D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.091
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.074
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
15526000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
8885000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7461000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
14903000 usd
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
111679000 shares
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4799000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10052000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6882000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5668000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4963000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
7213000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
39577000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10083000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
29494000 usd
CY2023Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
63703000 usd
CY2023Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
67144000 usd
CY2023Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
67662000 usd
CY2023Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
71242000 usd
CY2023Q4 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
67741000 usd
CY2023Q4 us-gaap Contractual Obligation
ContractualObligation
337492000 usd
CY2023Q4 frsh Common Stock Number Of Classes
CommonStockNumberOfClasses
2 stockclass
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6677000 usd
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-6684000 usd
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1158000 usd
CY2023 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
627371 shares
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