Why CEO Dennis Woodside sees Enterprise Service Management as a sweet spot for Freshworks, despite some market misconceptions

Freshworks continues to make good progress with its latest quarterly numbers showing revenues up 15.3% year-on-year to $215.1 million. Loss from operations was $7.5 million, down 81% on $38.9 million a year ago.

The only cautionary note to be struck was that while the firm’s earnings presentation boasts that, “Large customers are increasingly turning to Freshworks” and that “Over 60% of total ARR (Annual Recurring Revenue) comes from Mid Market and Enterprise Customers”, the growth rate of large contract wins has slowed down.

That said, CEO Dennis Woodside said in post-results remarks:

Eighteen months ago, a $100,000 deal, we made a big deal about it. Now we have tons of $100,000 deals. That's not an unusual deal anymore. You know, the bigger deals are half-a-million dollar land. And the other thing is that we would be invited into those half-million-dollar RFPs two ...