Why Freshworks Stock Plummeted Today

Shares of Freshworks (NASDAQ: FRSH) got crushed Friday. The software-as-a-service stock ended the daily trading session down 18% due to turbulence for the broader market and weaker-than-expected guidance that arrived with the company's fourth-quarter results. 

Freshworks published its fourth-quarter results after the market closed on Thursday, reporting a non-GAAP (adjusted) loss per share of $0.06 on revenue of $105.5 million. The loss for the quarter was in line with the market's expectations, but sales in the period actually topped the average analyst estimate by $5.16 million.

Even so, the company guided for mounting losses in the current fiscal year, and the news arrived in conjunction with concerning reports that Russia is likely to invade Ukraine. 

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Source Fool.com