Freshworks Inc
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
FRSH$11.88-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash Flows Operating Activities: | |||
| Net loss | $(137,436) | $(232,132) | $(191,995) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 12,144 | 11,504 | 13,294 |
| Amortization of deferred contract acquisition costs | 23,965 | 18,532 | 12,844 |
| Non-cash lease expense | 7,736 | 6,195 | — |
| Stock-based compensation | 210,707 | 207,696 | 173,443 |
| Premium (discount) amortization on marketable securities | (15,652) | (1,627) | 1,757 |
| Gain realized on sale of marketable securities and non-marketable equity investments | — | — | (23,836) |
| Change in fair value of equity securities | (90) | (71) | (132) |
| Deferred income taxes | (1,322) | (2,405) | (1,907) |
| Other | 209 | 887 | (28) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (26,982) | (18,892) | (17,509) |
| Deferred contract acquisition costs | (26,962) | (28,560) | (24,218) |
| Prepaid expenses and other assets | (7,411) | (8,141) | (5,942) |
| Accounts payable | (2,423) | 77 | 1,986 |
| Accrued and other liabilities | 1,839 | 7,746 | 17,714 |
| Deferred revenue | 60,773 | 45,453 | 55,989 |
| Operating lease liabilities | (12,917) | (8,787) | — |
| Net cash provided by (used in) operating activities | 86,178 | (2,525) | 11,460 |
| Cash Flows from Investing Activities: | |||
| Purchases of property and equipment | (2,069) | (7,129) | (5,565) |
| Proceeds from sale of property and equipment | 110 | 137 | 620 |
| Capitalized internal-use software | (6,271) | (5,116) | (3,552) |
| Sale of non-marketable equity investment | — | — | 23,979 |
| Purchases of marketable securities | (842,803) | (848,560) | (686,078) |
| Sales of marketable securities | — | 92,786 | 131,170 |
| Maturities and redemptions of marketable securities | 1,009,532 | 483,055 | 119,130 |
| Net cash provided by (used in) investing activities | 158,499 | (284,827) | (420,296) |
| Cash Flows from Financing Activities: | |||
| Proceeds from initial public offering, net of underwriting discounts | — | — | 1,069,348 |
| Proceeds from issuance of common stock under employee stock purchase plan, net | 7,271 | 10,870 | — |
| Proceeds from exercise of stock options | 88 | 109 | 94 |
| Payment of withholding taxes on net share settlement of equity awards | (67,978) | (167,224) | (3,343) |
| Payment of deferred offering costs | — | (109) | (6,830) |
| Payment of acquisition-related liabilities | — | — | (900) |
| Net cash provided by (used in) financing activities | (60,619) | (156,354) | 1,058,369 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 184,058 | (443,706) | 649,533 |
| Cash, cash equivalents and restricted cash, beginning of period | 304,158 | 747,864 | 98,331 |
| Cash, cash equivalents and restricted cash, end of period | $488,216 | $304,158 | $747,864 |
| Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets: | |||
| Cash and cash equivalents | $488,121 | $304,083 | $747,861 |
| Restricted cash included in prepaid expenses and other current assets | — | 3 | — |
| Restricted cash included in other assets | 95 | 72 | 3 |
| Total cash, cash equivalents and restricted cash | $488,216 | $304,158 | $747,864 |
| Supplemental cash flow information: | |||
|---|---|---|---|
| Cash paid for taxes | $12,034 | $13,412 | $10,458 |
| Non-cash investing and financing activities: | |||
| Operating lease right-of-use assets obtained in exchange for operating lease obligations | $7,461 | $14,903 | $— |
| Stock-based compensation capitalized as internal-use software | $1,758 | $1,665 | $585 |
| Accretion of redeemable convertible preferred stock | $— | $— | $2,646,662 |
| Conversion of redeemable convertible preferred stock into common stock upon initial public offering | $— | $— | $5,541,758 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.