Semrush Holdings, Inc. ( (SEMR) ) has released its Q3 earnings. Here is a breakdown of the information Semrush Holdings, Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Semrush Holdings, Inc., headquartered in Boston, is a leading SaaS platform specializing in online visibility management, offering tools for SEO, advertising, content, and social media marketing.
In its latest earnings report, Semrush reported a robust growth in the third quarter of 2024, with a revenue increase of 24% year-over-year, reaching $97.4 million. The company also announced an increase in its annual recurring revenue (ARR) and raised its full-year revenue and non-GAAP operating margin guidance.
Key financial highlights include a non-GAAP income from operations of $12.1 million, up from $7.5 million in the previous year, and an ARR of $401 million. The company also reported a significant increase in its customer base, with over 117,000 paying customers, marking a 10% growth from the previous year. Notably, Semrush’s Enterprise SEO platform has gained traction with major multinational corporations.
Looking ahead, Semrush has a positive outlook, expecting a revenue range of $375 to $376 million for the full year 2024, representing a 22% growth year-over-year. The company aims to maintain its growth momentum while investing in future developments and optimizing operational efficiencies.
