Stock Track | Freshworks Plunges 5.01% in After-Hours on Job Cuts Announcement and Q1 EPS Miss

Stock Track05-06

Freshworks Inc. (FRSH) experienced a significant after-hours plunge of 5.01% on Tuesday, following the release of its first-quarter 2026 results and a major corporate restructuring announcement.

The business-software company announced it would cut 11% of its workforce, or about 500 jobs, as it grapples with an industry being reshaped by artificial intelligence. CEO Dennis Woodside cited AI use in product and engineering, as well as automation of routine work, as drivers for the decision. The restructuring is expected to incur one-time charges of about $8 million in the second quarter.

Concurrently, Freshworks reported mixed financial results for Q1 2026. While revenue of $228.6 million exceeded analyst estimates of $223.2 million, adjusted earnings per share of $0.11 fell short of the $0.12 consensus estimate. The company also reported a Q1 net loss of $4.81 million and a pretax loss of $6.634 million.

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