Full year 2021 revenue up more than 50% year over year
More than 82,000 Customers as of December 31, 2021
Semrush Holdings, Inc. (NYSE: SEMR), a leading online visibility management SaaS platform, today reported fourth quarter 2021 financial results for the quarter ended December 31, 2021.
“2021 was a historic year for Semrush, as we completed a successful IPO and grew revenue by more than 50%. In the process we added nearly fifteen thousand paid customers while also delivering strong growth in average revenue per customer. I want to extend my thanks to all our employees and partners who helped make it possible,” said Oleg Shchegolev, CEO and Co-Founder of Semrush.
“We continue to see strong demand for our products across virtually all our markets. I believe our solutions are becoming more relevant to a wider audience as creating effective digital marketing campaigns becomes ever more challenging. I am excited about the large market opportunity in front of us and I believe we are well positioned to capitalize on that opportunity,” added Mr. Shchegolev.
Fourth Quarter and Full-Year 2021 Financial Highlights
- Fourth quarter revenue of $53.7 million, up 47% year over year and full year 2021 revenue of $188 million, up more than 50% year over year
- ARR of $213 million as of December 31, 2021, up 48% year over year
- Dollar based net revenue retention of 126% as of December 31, 2021, up from 124% in the previous quarter
- Over 82,000 paying customers as of December 31, 2021, up approximately 22% from a year ago
- Net loss of $3.9 million for the fourth quarter and net loss of $3.3 million for the full year 2021
- Non-GAAP net loss of $2.9 million for the fourth quarter and non-GAAP net loss of $0.5 million for the full year 2021
- Cash flow from operations of nearly $24 million for full year 2021, ended the year with cash and cash equivalents of nearly $270 million and zero debt
See “Non-GAAP Financial Measures & Definitions of Key Metrics” below for how Semrush defines ARR, dollar based net revenue retention, non-GAAP net income (loss), and the financial tables that accompany this release for reconciliations of each non-GAAP financial measure to its closest comparable GAAP financial measure.
Business Highlights
- Semrush now offers a keyword intent filter which helps customers create more effective and efficient campaigns through better keyword targeting
- We launched App Center in early 2021, and it is now home to fifteen apps, including ten third party offerings
- Continued to see strong growth from larger accounts, with the number of customers paying more than $10K annually up more than 75% year over year in the fourth quarter
- Prowly had more than 1,000 customers and grew ARR more than 100% year over year in the fourth quarter
Business Outlook
Based on information as of today, February 28, 2022, we are issuing the following financial guidance:
First Quarter 2022 Financial Outlook
- Revenue is expected to be in a range of $55.8 million to $56.2 million, up 40% year over year
- Non-GAAP net loss is expected to be in a range of $4.7 to $4.5 million
Full-Year 2022 Financial Outlook
- Revenue is expected to be in a range of $245 million to $247 million, up over 30% year over year
- Non-GAAP net loss is expected to be in a range of $22 to $21.5 million
Reconciliation of non-GAAP net loss guidance to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from this non-GAAP measure, in particular the measures and effects of share-based compensation expense, employer taxes and tax deductions specific to equity compensation awards that are directly impacted by future hiring, turnover and retention needs. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results. http://investors.semrush.com/.
Check Out the New Martech Cube Podcast. For more such updates, follow us on Google News Martech News