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Dec 31, 2022
Semrush Q4 2022 Earnings Report
Reported strong execution despite challenging macroeconomic conditions, with revenue up 28% year-over-year and ARR reaching $275 million.
Key Takeaways
Semrush reported Q4 2022 financial results with revenue of $68.8 million, a 28% increase year-over-year. The company's ARR reached $275 million, also up 28% year-over-year. Semrush is focused on improving margins with the goal of non-GAAP profitability in 2023.
Q4 revenue increased by 28% year-over-year, reaching $68.8 million.
ARR grew by 28% year-over-year, totaling $275 million as of December 31, 2022.
Dollar-based net revenue retention rate was 118% as of December 31, 2022.
The company had over 95,000 paying customers as of December 31, 2022, an increase of approximately 16% year-over-year.
Forward Guidance
Semrush provided financial guidance for Q1 2023 and full year 2023.
Positive Outlook
- Q1 2023 revenue is expected to be in the range of $70.3 million to $70.7 million, representing a 23% year-over-year growth.
- Full year 2023 revenue is projected to be between $306.0 million and $309.0 million, indicating a 20% to 22% year-over-year increase.
- Semrush anticipates achieving non-GAAP net income between breakeven and $3.0 million for the full year 2023.
- Strong demand for products.
- History of customers returning to the platform.
Challenges Ahead
- Q1 2023 non-GAAP net loss is expected to be in the range of $8.0 million to $7.0 million, including approximately $1.3 million of exit costs.
- Unpredictable impact on future GAAP financial results.
- Challenging macroeconomic conditions.
- Variability of share-based compensation expense.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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