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Jun 30, 2025
Similarweb Q2 2025 Earnings Report
Similarweb reported solid Q2 2025 results with revenue growth and positive non-GAAP profitability, despite a larger GAAP net loss.
Key Takeaways
Similarweb delivered 17% year-over-year revenue growth in Q2 2025, supported by demand for Gen AI and LLM-related data. The company returned to positive non-GAAP operating profit and free cash flow, although GAAP net loss widened.
Revenue reached $71.0 million, up from $60.6 million in Q2 2024
Non-GAAP net income was $1.1 million, marking a return to profitability
Customer base grew by 18% year-over-year to 5,951
Gen AI and LLM training-related revenue contributed nearly 8% of total Q2 revenue
Forward Guidance
Similarweb expects continued growth in Q3 and FY 2025 with improved operating profitability and revenue expansion driven by Gen AI data demand.
Positive Outlook
- Q3 2025 revenue forecasted between $71.5M and $72.0M
- Q3 2025 non-GAAP operating profit expected between $1.5M and $2.0M
- FY 2025 revenue forecasted between $285M and $288M
- FY 2025 non-GAAP operating profit raised to $5M–$7M
- Gen AI and LLM data contributing significantly to growth
Challenges Ahead
- GAAP net losses continue to widen
- Non-GAAP net income guidance not specified
- Cash balance decreased compared to year-end 2024
- Free cash flow lower than prior year
- Margin compression in GAAP metrics year-over-year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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