05:35 AM EDT, 05/02/2024 (MT Newswires) -- Freshworks ( FRSH ) reported Q1 non-GAAP earnings Wednesday of $0.10 per diluted share, up from $0.03 a year earlier.

Analysts polled by Capital IQ expected $0.08.

Revenue for the quarter ended March 31 was $165.1 million, compared with $137.7 million a year earlier.

Analysts surveyed by Capital IQ expected $163.5 million.

For 2024, the company said it now expects non-GAAP earnings of $0.32 to $0.35 per share, up from $0.29 to $0.31 anticipated previously. Analysts polled by Capital IQ expect $0.33.

Revenue for the year is now projected to be $695 million to $705 million, down from $703.5 million to $711.5 million anticipated earlier. Analysts surveyed by Capital IQ expect $701.9 million.

For Q2, the company expects non-GAAP EPS of $0.05 to $0.06. Analysts polled by Capital IQ expect $0.05. Revenue for the quarter is projected to be $168 million to $170 million. Analysts polled by Capital IQ expect $170.8 million.

Meanwhile, Freshworks ( FRSH ) appointed Dennis Woodside as chief executive and president, effective immediately, succeeding founder and CEO Girish Mathrubootham.

Woodside has served as president of the company since September 2022 and was previously chief operating officer of Dropbox ( DBX ) . Mathrubootham will transition to the new role of executive chairman and also remain chairman of the board.

Shares of the company fell almost 25% in premarket activity Thursday.

Price: 13.70, Change: -4.55, Percent Change: -24.93