SEMrush (SEMR) - 2024 Q4 - Annual Results

Revenue Growth - Fourth quarter revenue reached $102.6 million, representing a 23% year-over-year increase[5] - Full year revenue totaled $376.8 million, up 22% year-over-year[5] - Annual Recurring Revenue (ARR) as of December 31, 2024, was $411.6 million, reflecting a 22% year-over-year growth[9] - For Q1 2025, the company expects revenue in the range of $103.9 million to $104.7 million, representing approximately 22% year-over-year growth[16] - The full year 2025 revenue guidance is projected to be between $448 million and $453 million, indicating a growth of approximately 20% year-over-year[16] - Revenue for Q4 2024 was $102,642,000, a 23% increase from $83,394,000 in Q4 2023[35] - Gross profit for the fiscal year 2024 reached $311,338,000, up from $255,348,000 in 2023, representing a 22% growth[35] Profitability Metrics - Non-GAAP income from operations for Q4 was $11.8 million, compared to $8.3 million in the prior year period[9] - Non-GAAP operating margin for Q4 was 11.5%, an increase of 150 basis points year-over-year[12] - Net income attributable to Semrush Holdings, Inc. for Q4 2024 was $3,345,000, compared to $6,874,000 in Q4 2023, indicating a decrease of 51%[35] - Non-GAAP income from operations for Q4 2024 was $11,819,000, a 42% increase from $8,308,000 in Q4 2023[36] - Free cash flow for Q4 2024 was $9,522,000, which is a 7% increase from $8,880,000 in Q4 2023[36] - Net income for the fiscal year ended December 31, 2024, was $7,375 million, a significant increase from $950 million in 2023[40] Customer Growth - Approximately 117,000 paying customers were reported as of December 31, 2024, an 8% increase from the previous year[9] - The company closed over 40 SEO Enterprise deals in December 2024 alone, indicating strong demand for its enterprise solutions[11] Cash Flow and Assets - The company achieved a net cash provided by operating activities of $11.9 million in Q4 and $47.0 million for the full year 2024[5] - The company reported a net cash provided by operating activities of $46,996,000 for the fiscal year 2024, compared to $7,986,000 in 2023, indicating significant operational cash flow improvement[36] - Total current assets increased to $276,184,000 as of December 31, 2024, compared to $265,554,000 in 2023, reflecting a growth of 4%[38] - Total assets rose to $390,943,000 as of December 31, 2024, up from $331,490,000 in 2023, marking a 18% increase[38] Stockholder Equity and Compensation - Total stockholders' equity attributable to Semrush Holdings, Inc. increased to $256,604,000 in 2024 from $219,149,000 in 2023, a growth of 17%[38] - Stock-based compensation for the fiscal year 2024 totaled $27,999,000, compared to $15,337,000 in 2023, representing an increase of 83%[35] - Stock-based compensation expense increased to $27,999 million from $15,337 million year-over-year[40] - Proceeds from the exercise of stock options amounted to $4,118 million, compared to $2,240 million in the previous year[40] Investment Activities - Cash paid for acquisition of assets and businesses was $25,902 million, up from $5,066 million in 2023[40] - Net cash used in investing activities was $58,222 million, compared to $29,068 million in the prior year[40] Other Financial Metrics - Total depreciation and amortization expense increased to $10,068 million from $6,790 million year-over-year[40] - Deferred revenue was $8,479 million, slightly down from $8,755 million in 2023[40] - The company experienced a decrease in cash equivalents and restricted cash of $9,788 million, compared to a decrease of $20,917 million in the prior year[40]