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Similarweb Q4 2024 Earnings Report
Similarweb reported a profitable Q4 2024, with revenue growth driven by strong demand for Digital Data and increased customer base, alongside significant investments in AI and R&D.
Key Takeaways
Similarweb achieved a profitable Q4 2024, with total revenue reaching $65.6 million, a 16% increase year-over-year. The company reported a non-GAAP operating profit of $2.6 million and continued to expand its customer base, particularly in the $100,000+ ARR segment, while also making strategic investments in AI and R&D.
Total revenue for Q4-24 increased by 16% year-over-year to $65.6 million, exceeding the top end of their estimate range.
The company achieved a non-GAAP operating profit of $2.6 million in Q4-24, marking its sixth consecutive quarter of non-GAAP operating profit.
The number of $100,000+ ARR customers grew by 11% year-over-year to 405, with their average annual revenue increasing by 7%.
Overall dollar-based net retention rate (NRR) was 101%, and NRR for customers generating over $100,000 in ARR increased to 112%.
Forward Guidance
For the full year 2025, Similarweb expects total revenue between $285.0 million and $288.0 million, representing approximately 15% YoY growth at the midpoint. Non-GAAP operating profit is projected to be between $1.0 million and $4.0 million. For Q1 2025, total revenue is expected to be between $66.0 million and $66.5 million, with a non-GAAP operating loss between ($1.5) million and ($1.0) million.
Positive Outlook
- Expected total revenue growth of approximately 15% YoY for FY2025.
- Anticipated non-GAAP operating profit for FY2025, continuing the trend of profitability.
- Increased investment in R&D and Go-To-Market teams to capitalize on AI opportunities and enhance Digital Data.
- Continued focus on expanding the customer base and increasing customer retention.
- Belief in the significant potential of their data and the markets they serve.
Challenges Ahead
- Expected non-GAAP operating loss for Q1 2025.
- Guidance reflects an increase in operating expenses, primarily due to increased headcount.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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