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SMWB - Similarweb Q4: Major Success In Variable And Fixed Cost Control
Similarweb Ltd.
2024-02-16 00:33:27 ET
Summary
Customer growth increased by 16%, with smaller accounts driving growth, likely to convert nicely into larger accounts thanks to the new upselling scheme.
Slower sales cycles are ending, major strategic wins were signed, and NRR declines are decelerating, indicating positive momentum and potential profitability.
Particularly, stability in the lowest sized customer in the mix indicates a good harvest incoming of upsells.
Leading indicators show accelerating revenue growth, and the cost controls in 2023 are going to quite easily bring the company into operating profitability in 2024.