Similarweb(US:SMWB)2025-08-12 20:07Financial Performance - Total revenue for Q2 2025 was $71.0 million, a 17% increase from $60.6 million in Q2 2024[3] - Non-GAAP operating profit was $2.4 million, representing 3% of revenue, down from 9% in Q2 2024[3] - Non-GAAP net income was $1.1 million, or 2% of revenue, compared to 7% in Q2 2024[5] - FY 2025 total revenue guidance is estimated between $285.0 million and $288.0 million, representing approximately 15% growth year-over-year[9] - Q3 2025 total revenue guidance is estimated between $71.5 million and $72.0 million[9] - Total revenue for the six months ended June 30, 2025, increased to $138,053, up from $119,619 in the same period of 2024, representing a growth of approximately 15.5%[24] - Gross profit for the six months ended June 30, 2025, was $109,815, compared to $94,379 for the same period in 2024, reflecting an increase of about 16.4%[24] - Non-GAAP gross profit for the six months ended June 30, 2025, was $111,172, compared to $97,018 for the same period in 2024, reflecting an increase of approximately 14.6%[31] Customer Metrics - Customer base grew by 18% to 5,951 as of June 30, 2025[5] - Customers with annual recurring revenue (ARR) of $100,000 or more increased by 13% to 433, contributing 63% of total ARR[5] - Dollar-based net retention rate (NRR) for customers with ARR of $100,000 or more was 108% in Q2 2025, down from 109% in Q2 2024[5] Expenses and Losses - Operating expenses for the six months ended June 30, 2025, rose to $125,990, up from $98,016 in 2024, indicating a significant increase of approximately 28.5%[24] - Net loss for the six months ended June 30, 2025, was $21,108, compared to a net loss of $3,471 in the same period of 2024, marking an increase in losses of about 508%[24] - The company reported a significant increase in research and development expenses, which rose to $36,328 for the six months ended June 30, 2025, compared to $25,778 in 2024, an increase of about 40.8%[24] Cash and Assets - Cash and cash equivalents at the end of the period on June 30, 2025, were $59,341, a decrease from $63,869 at the beginning of the period[29] - Total current assets increased to $141,356 as of December 31, 2024, compared to $131,649 as of June 30, 2025, showing a growth of approximately 7.3%[22] - Total liabilities decreased to $215,403 as of December 31, 2024, from $221,821 as of June 30, 2025, indicating a reduction of about 2.9%[22] Research and Development - The company expects to continue its focus on research and development, with GAAP R&D expenses projected to increase to $36,328 for the six months ended June 30, 2025[33]