Similarweb Ltd. ( (SMWB) ) has released its Q4 earnings. Here is a breakdown of the information Similarweb Ltd. presented to its investors.
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Similarweb Ltd. is a digital intelligence provider that offers insights into website performance, consumer behavior, and market trends through its proprietary digital data platform, serving a diverse range of industries.
The company reported a 15% increase in total revenue for 2024, reaching $249.9 million, reflecting strong demand for its digital data solutions. The customer base expanded by 17% year-over-year, contributing to Similarweb’s first full fiscal year of non-GAAP operating profit and free cash flow.
Key financial highlights include a 16% revenue growth in Q4 2024, driven by a 19% increase in annual recurring revenue from major customers. The company also achieved a net retention rate of 101% overall and 112% for customers generating over $100,000 in annual recurring revenue. Investments in R&D and go-to-market teams are set to leverage AI opportunities and enhance product offerings.
Looking ahead, Similarweb expects continued revenue growth and plans to invest in expanding its digital data capabilities and customer acquisition strategies. The company remains focused on sustaining profitable growth and improving customer engagement.
