![]() Grew number of customers with ARR of $100,000 or more to 344, an increase of 16% compared to March 31, 2022.Ĭustomers with ARR of $100,000 or more contributed 55% of the total ARR as of March 31, 2023, compared to 53% as of March 31, 2022.ĭollar-based net retention rate for customers with ARR of $100,000 or more was 114% in the first quarter of 2023 as compared to 127% in the first quarter of 2022. Grew average annual revenue per customer to approximately $51,300 in the first quarter of 2023, an increase of 4% compared to the first quarter of 2022. Grew number of customers to 4,179 as of March 31, 2023, an increase of 14% compared to March 31, 2022. Normalized free cash flow was $(0.6) million, compared to $(4.0) million for the first quarter of 2022. Net cash provided by operating activities was $0.3 million, compared to $0.9 million for the first quarter of 2022.įree cash flow was $(1.2) million, compared to $(4.3) million for the first quarter of 2022. Non-GAAP operating loss per share was $(0.09), compared to $(0.26) for the first quarter of 2022.Ĭash and cash equivalents totaled $75.3 million as of March 31, 2023, compared to $77.8 million as of December 31, 2022. Non-GAAP operating loss was $(7.2) million or (14)% of revenue, compared to $(19.8) million or (45)% of revenue for the first quarter of 2022. GAAP net loss per share was $(0.15), compared to $(0.34) for the first quarter of 2022. GAAP operating loss was $(13.1) million or (25)% of revenue, compared to $(26.2) million or (59)% of revenue for the first quarter of 2022. Total revenue was $52.8 million, an increase of 19% compared to $44.3 million for the first quarter of 2022. Despite longer sales cycles, we were able to win new customers, and retain many existing customers who assess our data as critical to their success.” Offer continued, “Our customers tell us that our data and actionable insights are essential to make the right decisions.” “We expanded our operating margin significantly compared to last year at this time due to our focus on aligning our resources with our growth trajectory. “We continued to improve our operating efficiency and navigate through a challenging demand environment in the first quarter,” said Or Offer, Founder and CEO of Similarweb. The Company published a letter to shareholders from management discussing these results, which can be accessed at the link:, located on the Company's investor relations website. ![]() (NYSE: SMWB) (" Similarweb" or the "Company"), a leading digital data and analytics company powering critical business decisions, today announced financial results for its first quarter ended March 31, 2023. ![]() Non-GAAP operating margin improved by 31 percentage points First quarter 2023 revenue grew 19% year-over-year to $52.8 million ![]()
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