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Mar 31
Similarweb Q1 2025 Earnings Report
Similarweb reported Q1 2025 results with 14% revenue growth and continued positive free cash flow.
Key Takeaways
In Q1 2025, Similarweb achieved $67.1M in revenue, reflecting 14% growth year-over-year. Despite a GAAP net loss of $9.3M, the company generated $4.4M in free cash flow for the sixth straight quarter. Strong customer growth and rising large-account share underscore strategic momentum.
Revenue grew 14% YoY to $67.1M, driven by customer base expansion.
GAAP EPS was $(0.11); non-GAAP EPS was $(0.02).
Free cash flow remained positive for the sixth consecutive quarter.
Customer count rose 19% YoY; large customers now contribute 61% of ARR.
Similarweb
Similarweb
Forward Guidance
Similarweb expects continued growth in Q2 2025 and FY 2025, with full-year revenue projected to increase 15% YoY and non-GAAP profitability targeted.
Positive Outlook
- Q2 2025 revenue forecasted between $68.6M and $69.0M.
- FY 2025 revenue guidance of $285M–$288M (15% YoY growth).
- FY 2025 non-GAAP operating profit projected at $1M–$4M.
- Strong customer expansion and large-account penetration.
- Sustained positive free cash flow.
Challenges Ahead
- GAAP net and operating losses widened YoY.
- Non-GAAP operating result turned negative in Q1.
- R&D and S&M costs increased significantly YoY.
- Cash and equivalents declined slightly QoQ.
- Guidance reflects limited near-term margin expansion.