SEMrush Holdings Inc.
- Semrush Holdings, Inc decreased 11.9% to $8.68 after the cloud based services provider reported first quarter results.
Revenue in the first quarter increased 24% to $70.9 million and average revenue run rate advanced 23% to $293 million and paying customers increased 15% to above 100,000.
Free active customers increased 36% to 885,000 and the number of customers paying more than $10,000 increased 45%.
Net loss in the quarter increased to $9.9 million from $2.9 million and diluted loss per share expanded to 7 cents from 2 cents a year ago.
The company forecasted second quarter revenue to increase 19% at mid-point of the range between $73.6 million and $75 million and non-GAAP earnings between $1.5 million and $3.0 million.
For the full-year 2023, the company estimated revenue between $306.0 million and $309.0 million and non-GAAP net income between breakeven and $3.0 million.
May 9, 2023
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