Similarweb Ltd. (NYSE:SMWB) Q1 2023 Earnings Conference Call May 10, 2023 8:30 AM ET Company Participants Raymond Jones - Vice President, Investor Relations Or Offer - Chief Executive Officer Jason Schwartz - Chief Financial Officer Conference Call Participants Arjun Bhatia - William Blair Ryan MacWilliams - Barclays Bank Steve Hromin - Oppenheimer John Byun - Jefferies Noah Herman - JPMorgan Brett Knoblauch - Cantor Fitzgerald Patrick Walravens - JMP Securities Tyler Radke - Citi Operator Greetings and wel ...

This presentation contains "forward-looking statements" within the meaning of Section ùþA of the Securities Act of øĀúú, as amended, or the Securities Act, and Section ùøE of the Securities Exchange Act of øĀúû, as amended. Forward-looking statements include statements relating to the expected performance of our business, future financial results, strategy, long-term growth and overall future prospects, our customers continued investment in digital transformation and reliance on digital intelligence and the ...

Exhibit 99.1 SIMILARWEB ANNOUNCES FIRST QUARTER 2023 RESULTS First quarter 2023 revenue grew 19% year-over-year to $52.8 million • Cash and cash equivalents totaled $75.3 million as of March 31, 2023, compared to $77.8 million as of December 31, 2022. • Net cash provided by operating activities was $0.3 million, compared to $0.9 million for the first quarter of 2022. • Free cash flow was $(1.2) million, compared to $(4.3) million for the first quarter of 2022. • Normalized free cash flow was $(0.6) million, ...

Taxation and Regulatory Risks - The company may be classified as a passive foreign investment company (PFIC) if 75% or more of its gross income is passive income, which could lead to adverse U.S. federal income tax consequences for U.S. holders of its ordinary shares [223]. - The company does not believe it was classified as a PFIC for the taxable year ended December 31, 2022, but this determination must be made annually and could change based on income and asset composition [223]. - Changes in tax laws or regulations could increase the costs of the company's solutions and harm its business, potentially requiring the company or its customers to pay additional taxes [226]. - The application of indirect taxes to online businesses is complex and evolving, with potential liabilities for past sales if the company is required to collect taxes where it has not historically done so [231]. - The company is expanding its international operations, which may subject it to adverse tax consequences depending on the application of tax laws in various jurisdictions [233]. - The enactment of legislation implementing changes in taxation of international business activities could impact the company's future financial position and results of operations [234]. - The OECD's BEPS initiative aims to standardize global corporate tax policy, which may lead to significant changes in tax legislation that could adversely affect the company's international expansion plans [236]. Shareholder and Market Dynamics - The public trading price of the company's ordinary shares has been volatile and may continue to fluctuate due to various factors, potentially causing investors to lose part of their investment [237]. - As of February 14, 2023, insiders beneficially owned approximately 60.6% of the company's ordinary shares, limiting other shareholders' influence on corporate matters [239]. - As of December 31, 2022, there were 76,433,772 ordinary shares outstanding, with all shares freely transferable except those held by affiliates [242]. - The company had 3,210,337 shares available for future grants under its 2021 Plan, which increased to 7,032,025 shares as of January 1, 2023 [243]. - The company does not anticipate paying any dividends in the foreseeable future, intending to retain future earnings to finance operations and expand its business [253]. - Future sales of ordinary shares in the public market could depress the market price of the company's shares and impair its ability to raise capital [240]. Operational and Geopolitical Risks - The company’s commercial insurance does not cover losses from events associated with war and terrorism, which could materially affect its business [259]. - The company’s operations may be adversely affected by political, economic, and military conditions in Israel and the surrounding region [258]. - The ongoing state of hostility and economic boycotts may adversely impact the company's ability to sell solutions and affect operating results [260]. - Military reserve duty call-ups could disrupt operations, potentially affecting business prospects and financial condition [261]. - Proposed changes to Israel's judicial system may deter foreign investment and lead to increased currency fluctuations and interest rates, negatively impacting business [262]. - Enforcement of U.S. judgments against the company in Israel may be difficult, complicating legal claims under U.S. securities laws [263]. - Israeli corporate law provisions may delay or prevent acquisitions, affecting shareholder control and investment pricing [266]. Financial Performance and Risks - Market opportunity estimates and growth forecasts may prove inaccurate, impacting the company's growth potential [270]. - The company may face liability claims from contract breaches, with insurance potentially inadequate to cover losses [272]. - Evolving corporate governance and ESG regulations may increase compliance costs and management attention [276]. - Future acquisitions and partnerships could be challenging to integrate, potentially disrupting business and diluting shareholder value [278]. - The company acquired a business in 2022 to enhance its platform and optimize products, indicating a focus on growth opportunities through acquisitions [279]. - The company faces challenges in identifying desirable acquisition targets and may incur expenses related to potential acquisitions, which could adversely affect financial results [280]. - The ongoing military conflict in Ukraine poses risks to the company's operations, particularly affecting approximately 60 employees engaged in software development and quality assurance [282]. Liquidity and Financial Position - The company reported cash and cash equivalents of $87.6 million as of December 31, 2022, down from $140.4 million in 2021, indicating a decrease in liquidity [465]. - The company had $25.0 million of outstanding borrowings under the SVB LSA as of December 31, 2022, with a variable interest rate structure [466]. - A hypothetical 10% change in foreign currency exchange rates would have impacted the company's net loss by $13.6 million for the year ended December 31, 2022 [464]. - The company does not believe inflation has materially affected its historical results, but significant inflationary pressures could adversely impact financial performance [467]. - The company is exposed to market risks from changes in exchange rates, interest rates, and inflation, which arise in the ordinary course of business [463]. - The company maintains a hedging strategy against currency risk through forward currency contracts and cylinder contracts [464].

Similarweb Ltd (NYSE:SMWB) Q4 2022 Earnings Conference Call February 15, 2023 8:30 AM ET Company Participants Raymond Jones - VP, IR Or Offer - Co-Founder, CEO & Director Jason Schwartz - CFO Conference Call Participants Arjun Bhatia - William Blair & Company Ryan MacWilliams - Barclays Bank Jason Helfstein - Oppenheimer Brett Knoblauch - Cantor Fitzgerald Tyler Radke - Citigroup Noah Herman - JPMorgan Chase & Co. John Byun - Jefferies Operator Greetings, and welcome to the Similarweb Fourth Quarter Fiscal ...

| --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | OUR VISION POWERING THE WORLD'S BUSINESSES WITH THE BEST DIGITAL DATA INVESTOR PRESENTATION Qû ù÷ùù | | | | | | | | | INVESTOR PRESENTATION Qû ù÷ùù | ù This presentation contains "forward-looking statements" within the meaning of Section ùþA of the Securities Act of øĀúú, as amended, or the Securities Act, and Section ùøE of the Sec ...

Revenue Growth - Fourth quarter 2022 revenue grew 28% year-over-year to $51.3 million, compared to $40.2 million in Q4 2021[3] - Fiscal year 2022 total revenue was $193.2 million, a 40% increase from $137.7 million in fiscal year 2021[6] - Q1 2023 revenue guidance is between $52.5 million and $53.0 million, representing 19% growth year-over-year at the mid-point[8] - FY 2023 revenue guidance is between $221.0 million and $222.0 million, indicating a 15% growth year-over-year at the mid-point[8] Customer Metrics - Annual Recurring Revenue (ARR) exceeded $200 million, with 4,049 customers as of December 31, 2022, representing a 16% increase year-over-year[6] - Customers with ARR of $100,000 or more contributed 55% of total ARR as of December 31, 2022, up from 51% a year prior[7] - The dollar-based net retention rate for customers with ARR of $100,000 or more was 120% in Q4 2022, compared to 125% in Q4 2021[7] - Remaining performance obligations increased 24% year-over-year to $171.0 million as of December 31, 2022[7] Profitability and Loss - Non-GAAP operating loss was $(10.9) million or (21)% of revenue in Q4 2022, an improvement from $(18.4) million or (46)% of revenue in Q4 2021[3] - Net loss widened from $69.0 million in 2021 to $83.7 million in 2022, indicating a 20.5% increase in losses[24] - The company reported a net loss per share of $1.10 for 2022, compared to $1.30 in 2021, showing a decrease in loss per share[24] - Loss from operations rose from $66,107 thousand in 2021 to $87,856 thousand in 2022, with a non-GAAP operating loss of $63,791 thousand for 2022[31] Cash and Liquidity - Cash and cash equivalents totaled $77.8 million as of December 31, 2022, down from $128.9 million a year earlier[6] - Free cash flow decreased significantly from $(30,438) thousand in 2021 to $(77,241) thousand in 2022, indicating a worsening cash position[33] - The company reported a working capital deficit of $(8,865) thousand, indicating potential liquidity challenges[28] - Cash flows used in operating activities increased from $27.6 million in 2021 to $46.1 million in 2022[27] Expenses and Costs - Operating expenses increased from $172.0 million in 2021 to $227.8 million in 2022, reflecting a rise of 32.4%[24] - Research and development expenses increased from $44,378 thousand in 2021 to $59,904 thousand in 2022, maintaining a non-GAAP research and development margin of 28%[32] - Share-based compensation costs increased from $11.2 million in 2021 to $17.0 million in 2022, a growth of 52.5%[25] Balance Sheet - Total assets grew from $227.0 million in 2021 to $246.0 million in 2022, a rise of 8.0%[22] - Total liabilities increased significantly from $142.1 million in 2021 to $224.1 million in 2022, marking a 57.8% increase[22] - Deferred revenue rose from $76.7 million in 2021 to $93.2 million in 2022, an increase of 21.5%[22] Profit Margins - Gross profit rose from $105.9 million in 2021 to $140.0 million in 2022, an increase of 32.5%[24] - Non-GAAP gross margin for 2022 was 79%, compared to 76% in 2021, reflecting improved profitability[29] - GAAP gross profit increased from $105,916 thousand in 2021 to $139,960 thousand in 2022, with a non-GAAP gross profit of $146,866 thousand for 2022[29] Other Financial Metrics - The effect of exchange rates on cash and cash equivalents resulted in a loss of $(45) thousand[28] - The company incurred $270 thousand in initial public offering costs during the period, impacting cash flow[28] - Net cash provided by financing activities was $125,246 thousand, a substantial increase from $29,117 thousand in the previous period[28]

INVESTOR PRESENTATION Qú ù÷ùù Business Proprietary & Confidential | ø NOTES REGARDING THIS PRESENTATION Business Proprietary & Confidential | ù This presentation contains "forward-looking statements" within the meaning of Section ùþA of the Securities Act of øĀúú, as amended, or the Securities Act, and Section ùøE of the Securities Exchange Act of øĀúû, as amended. Forward-looking statements include statements relating to the expected performance of our business, future financial results, strategy, long-ter ...

Similarweb Ltd. (NYSE:SMWB) Q3 2022 Earnings Conference Call November 16, 2022 8:30 AM ET Company Participants Raymond Jones – Vice President-Investor Relations Or Offer – Founder and Chief Executive Officer Jason Schwartz – Chief Financial Officer Conference Call Participants Ryan MacWilliams – Barclays Arjun Bhatia – William Blair Jason Helfstein – Oppenheimer & Co. Tyler Radke – Citigroup Brett Knoblauch – Cantor Fitzgerald Operator Greetings. Welcome to Similarweb's Third Quarter Fiscal 2020 Earnings Ca ...

Financial Data and Key Metrics Changes - Revenue grew 46% year-over-year to $47.6 million in Q2 2022, exceeding the outlook of $45.9 million [10][16] - Non-GAAP operating loss was $19.8 million, better than the guidance range of $23 million [18] - Dollar-based net retention rate increased to 115% from 106% year-over-year [17] - Remaining performance obligations (RPOs) rose 53% year-over-year to $160 million, with 87% expected to be realized in the next 12 months [17] Business Line Data and Key Metrics Changes - Customer base grew 25% year-over-year to over 3,800, with average account spend increasing 16% to approximately $51,000 annually [10] - Over 53% of annual recurring revenue comes from customers spending more than $100,000 per year [11] - 36% of customer relationships consist of multiyear contracts, indicating a growing trend in long-term commitments [11] Market Data and Key Metrics Changes - The U.S. market represented 50% of revenue, showing strong performance with a 55% increase [40] - European markets showed mixed results, with Germany performing well while the U.K. and France faced challenges [40] Company Strategy and Development Direction - The company is focusing on operational efficiency and disciplined execution to achieve profitable growth [21] - Recent acquisitions, such as Rank Ranger, are aimed at enhancing capabilities and expanding product offerings [13] - The company is in the process of building its Investor Intelligence solution, expected to launch in the latter half of the year [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a softness in the market, particularly in Europe, affecting deal closure times [24] - The company anticipates total revenue for Q3 2022 to be between $48.8 million and $49.2 million, with full-year revenue guidance of $196 million to $197 million [19] - Management remains optimistic about the demand for data-driven insights during uncertain economic times [45] Other Important Information - The company is actively optimizing its marketing organization and has made adjustments to hiring plans in response to market conditions [42][37] - The company ended the quarter with approximately $94 million in cash, supplemented by a $75 million undrawn credit facility, providing a strong liquidity position [68] Q&A Session Summary Question: Observations on macro environment impact - Management noted a slowdown in deal closures, particularly in Europe, and acknowledged longer sales cycles due to budget reallocations and job changes [24] Question: Free cash flow expectations - Management indicated that normalized free cash flow should not exceed $50 million for the year, with significant renewals expected in Q4 and Q1 [25] Question: Gross margin outlook - Management expressed optimism about improving gross margins in the future, with a focus on operational efficiency [30] Question: Geographic performance and guidance - Management confirmed that while Europe faces challenges, regions like Japan and the U.S. are performing well, and guidance reflects these regional dynamics [39] Question: Demand for specific products - Management reported strong initial demand for the App Intelligence product, with positive customer feedback, while also noting challenges in closing deals due to market dynamics [61] Question: Cash balance and future guidance - Management reassured that the company has sufficient liquidity and is focused on achieving sustainable free cash flow while balancing growth [68]