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Sep 30, 2023
Semrush Q3 2023 Earnings Report
Achieved strong revenue growth, ARR growth, and increased profitability.
Key Takeaways
Semrush reported strong Q3 2023 results, with revenue growth accelerating to 20% year-over-year and ARR growth of 21%. Net income increased to $4.2 million, and Non-GAAP net income improved to $8.4 million. The company is raising its full-year 2023 Non-GAAP net income guidance.
Third quarter revenue was $78.7 million, up 20% year-over-year.
ARR reached $322.8 million as of September 30, 2023, up 21% year-over-year.
Net income for the third quarter was $4.2 million, compared to a net loss of $9.1 million from a year ago.
Non-GAAP net income for the third quarter was $8.4 million, compared to a non-GAAP net loss of $7.1 million from a year ago.
Semrush
Semrush
Forward Guidance
For the fourth quarter, Semrush expects revenue in a range of $82.7 to $83.7 million, which at the mid-point would represent growth of approximately 21% year-over-year. They expect fourth quarter non-GAAP net income of $4.1 to $6.1 million.
Positive Outlook
- Confident in the underlying trends in the business
- Confident in the capabilities of the team
- Continue on the path to delivering strong growth and profitability
- Meaningfully raising non-GAAP net income guidance
- Maintaining a disciplined and balanced approach to improving efficiency and profitability