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Jun 30, 2023
Semrush Q2 2023 Earnings Report
Experienced steady growth with double-digit gains in revenue and paying customers year-over-year.
Key Takeaways
Semrush reported a revenue of $74.7 million, a 19% increase year-over-year. ARR reached $302.4 million, up 20% year-over-year, and the company had over 104,000 paying customers, a 14% increase year-over-year. The company is raising its full year 2023 guidance.
Second quarter revenue reached $74.7 million, up 19% year-over-year.
ARR reached $302.4 million as of June 30, 2023, up 20% year-over-year.
Dollar-based net revenue retention was 112% as of June 30, 2023.
Over 104,000 paying customers as of June 30, 2023, up approximately 14% year-over-year.
Forward Guidance
Semrush expects revenue growth to reaccelerate with increasing adoption of its expanding product portfolio, tools, and add-ons. The company is committed to maintaining a disciplined and balanced approach to optimizing costs and improving efficiency and profitability while continuing to invest in future growth opportunities.
Positive Outlook
- Expects revenue in a range of $78.0 to $79.0 million for Q3 2023.
- Mid-point of Q3 revenue guidance would represent growth of approximately 19% year-over-year.
- Expects third quarter non-GAAP net income of $3.0 to $4.0 million.
- Raising prior full-year revenue guidance to $307.0 to $309.0 million.
- Mid-point of full-year revenue guidance would represent growth of approximately 21% year-over-year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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