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Why Freshworks Stock Dropped 18% This Week

TheMotleyFool

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Why Freshworks Stock Dropped 18% This WeekPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/32e7a10f-efd0-424a-861f-2f3e0bb7ce02.png

Software specialist Freshworks (NASDAQ: FRSH) trailed the market this week, with losses of around 18% through trading on Thursday. That slump was powered by news of losses in the company's fiscal third quarter, plus a growing pool of outstanding stock available for trading on the market.

Sales landed at $97 million in the quarter that ended on Sept. 30, management said in a Nov. 2 earnings announcement. That increase beat Wall Street's expectations and translated into nearly 50% gains, year over year.

Yet investors appeared to be more concerned with the software-as-a-service (SaaS) specialist's losses and its weak cash flow trends. Freshworks burned through $4 million in Q3 and booked significant net losses.

Source Fool.com

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