SMWB - Similarweb GAAP EPS of -$0.12 beats by $0.02 revenue of $53.68M misses by $0.12M
2023-08-08 16:54:30 ET
- Similarweb press release ( NYSE: SMWB ): Q2 GAAP EPS of -$0.12 beats by $0.02 .
- Revenue of $53.68M (+12.8% Y/Y) misses by $0.12M .
- Grew number of customers to 4,301 as of June 30, 2023, an increase of 12% compared to June 30, 2022.
- Annual revenue per customer was approximately $50,600 in the second quarter of 2023, as compared to $50,700 in the second quarter of 2022.
- Grew number of customers with ARR of $100,000 or more to 356, an increase of 15% compared to June 30, 2022.
- Customers with ARR of $100,000 or more contributed 55% of the total ARR as of June 30, 2023, compared to 53% as of June 30, 2022.
- Dollar-based net retention rate for customers with ARR of $100,000 or more was 109% in the second quarter of 2023 as compared to 127% in the second quarter of 2022.
- Overall dollar-based net retention rate was 101% in the second quarter of 2023 as compared to 115% in the second quarter of 2022.
- Multi-year subscriptions now comprise 42% of our overall ARR as of June 30, 2023, as compared to 36% as of June 30, 2022.
- Remaining performance obligations increased 9% year-over-year, to $174.8 million as of June 30, 2023, as compared to $160.5 million as of June 30, 2022.
- Q3 2023 Guidance
- Total revenue estimated between $54.1 million and $54.5 million ($$56.29M consensus), representing approximately 9% growth year over year at the mid-point of the range.
- Non-GAAP operating loss estimated between $(2.8) million and $(3.2) million.
- FY 2023 Guidance
- Total revenue estimated between $216.0 million and $218.0 million ($221.15M consensus), representing approximately 12% growth year over year at the mid-point of the range.
- Non-GAAP operating loss estimated between $(16.0) million and $(17.0) million.
- Expect to reach sustained positive free cash flow in the fourth quarter of 2023.
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Similarweb GAAP EPS of -$0.12 beats by $0.02, revenue of $53.68M misses by $0.12M