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Mar 31, 2022
Semrush Q1 2022 Earnings Report
Semrush had a solid start to the year, navigating a challenging geopolitical environment to deliver record new customer growth and strong revenue.
Key Takeaways
Semrush reported a strong first quarter with revenue of $57.1 million, up 43% year-over-year. The company added more than 5,000 customers, reaching over 87,000 paying customers. ARR reached $236 million, a 41% increase year-over-year. However, the company reported a net loss of $2.6 million, compared to a net income of $1.5 million in the same quarter last year.
First quarter revenue was $57.1 million, a 43% increase year-over-year.
ARR reached $236 million as of March 31, 2022, up 41% year-over-year.
The company generated $8.0 million in cash flow from operations.
Dollar-based net revenue retention rate was 127% as of March 31, 2022, up from 126% in the previous quarter.
Semrush
Semrush
Forward Guidance
Semrush provided financial guidance for the second quarter and full year of 2022. Revenue for the second quarter is expected to be in the range of $59.5 million to $60.5 million, representing a 33% year-over-year increase. Revenue for the full year is expected to be in the range of $249 million to $251 million, also representing over 33% year-over-year growth.
Positive Outlook
- Revenue is expected to be in a range of $59.5 million to $60.5 million, up 33% year over year for Q2 2022.
- Full-Year 2022 Revenue is expected to be in a range of $249 million to $251 million, up over 33% year over year.
- Strong revenue growth expected for both Q2 and full year 2022.
- Continued demand for Semrush products.
- Effective marketing and sales strategies.
Challenges Ahead
- Non-GAAP net loss is expected to be in a range of $9 to $8 million for Q2 2022.
- Winding down Russia operations, incurring one-time relocation costs.
- Non-GAAP net loss is expected to be in a range of $46 to $44 million for full year 2022.
- Uncertainties related to macroeconomic conditions.
- Dependence on key personnel.