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Similarweb Ltd. (NYSE: SMWB) is a global leader in digital intelligence, providing a comprehensive view of the digital world to help businesses grow and become more competitive. The company offers a suite of analytics tools that analyze billions of digital interactions across millions of websites and apps daily. These tools enable users to compare website traffic, gain insights into market trends, and develop effective traffic acquisition strategies.
Similarweb's platform is trusted by businesses, marketers, publishers, and analysts to benchmark their performance against competitors. The company's data is frequently cited in leading publications such as Bloomberg Businessweek, TechCrunch, and Adweek. By transforming vast amounts of data into actionable insights, Similarweb helps its clients discover new opportunities and optimize their digital presence.
The company's primary revenue stream comes from SaaS subscriptions, with customers paying for access to its cloud-based digital intelligence solutions. Geographically, the majority of Similarweb's revenue is derived from the United States, with significant contributions from Israel, the United Kingdom, Europe, Asia-Pacific, and other regions.
Recently, Similarweb has entered a collaboration with Dstillery, an AI ad targeting company. This partnership enhances Dstillery's AI capabilities by incorporating Similarweb's extensive dataset into its data stack. The collaboration aims to improve predictive capabilities while respecting privacy concerns, marking a significant milestone in the evolving digital privacy landscape.
Similarweb (NYSE: SMWB) announced its third quarter 2024 financial results, showing 18% YoY revenue growth to $64.7 million, marking the fourth consecutive quarter of accelerating revenue growth. The company achieved a 21% YoY increase in its customer base to over 5,300 annual customers. GAAP operating loss improved to $(2.5) million, and GAAP net loss per share was $(0.03). Non-GAAP operating profit rose to $4.4 million, or $0.05 per share.
Free cash flow was positive for the fourth consecutive quarter at $8.7 million. The company reported a 27% YoY increase in remaining performance obligations to $212.5 million.
For Q4 2024, Similarweb projects revenue between $64.7 million and $65.7 million and a non-GAAP operating profit between $1.5 million and $2.5 million. For FY 2024, the revenue outlook is set between $249.0 million and $250.0 million, with a non-GAAP operating profit between $14.0 million and $15.0 million.
Similarweb (NYSE: SMWB), a leading digital data and web analytics company, has scheduled its third quarter 2024 financial results announcement for November 12, 2024, after NYSE market close. The company will host a conference call on November 13, 2024, at 8:30 a.m. EST to discuss business and financial results. Investors can access the live webcast through Similarweb's Investor Relations website, with an archived version available afterward. The call will also be accessible via telephone at (877) 407-0726 (toll-free) and (201) 689-7806 (international).
Similarweb has been recognized as a leader in the Modern Marketing Data Stack 2025 report by Snowflake, the AI Data Cloud company. The report highlights technologies used by Snowflake customers to leverage the AI Data Cloud for marketing and advertising purposes. Similarweb was recognized in the Enrichment & Hygiene category for its ability to enrich data sets with digital market data.
The report analyzes usage patterns from approximately 9,800 Snowflake customers as of April 2024, identifying 10 technology categories important for building marketing data stacks. It emphasizes three core factors: AI, data gravity, and privacy, which are reshaping the marketing landscape.
Similarweb's recognition as a leader in the Enrichment category underscores its importance in adding digital market intelligence to analyses. The company's participation in Snowflake's ecosystem aligns with its Data-as-a-Service strategy, enabling joint customers to integrate Similarweb data with other sources on Snowflake's AI Data Cloud.
Similarweb (NYSE:SMWB) has been named the Alternative Data Provider of the Year at the Hedgeweek US Awards 2024 in New York. This recognition highlights the value of Similarweb's data and platform for investors using non-financial measures to anticipate market trends and evaluate private and pre-IPO companies. Similarweb previously won this award from Hedgeweek US in 2021 and Hedgeweek Europe in 2022.
Alyssa Lewis, Global Head of the Investors Vertical at Similarweb, emphasized the importance of their digital alternative data for the investor community. Similarweb Stock Intelligence serves leading investors with an interactive platform, API, and feed delivery. The Hedgeweek award winners were chosen through a voting process involving over 29,354 votes, with 42% from managers, 23% from allocators, and 35% from service providers.
Similarweb (NYSE: SMWB), a digital market intelligence company, announced that underwriters fully exercised their option to purchase an additional 525,000 ordinary shares at $7.85 per share in connection with a previously announced public offering. This resulted in gross proceeds of approximately $4,121,250 to the selling shareholder. Similarweb did not receive any proceeds from the sale.
The offering was made pursuant to a registration statement filed with the SEC. Goldman Sachs & Co. and Barclays acted as book-running managers, while Citizens JMP, William Blair, and Needham & Company served as co-managers for the offering.
Similarweb (NYSE: SMWB), a leading digital market intelligence company, has announced the closing of a previously announced secondary offering by a selling shareholder. The offering consisted of 3,500,000 ordinary shares at a public offering price of $7.85 per share, resulting in total gross proceeds of $27,475,000. The selling shareholder has granted the underwriters a 30-day option to purchase up to an additional 525,000 ordinary shares at the public offering price. Similarweb did not receive any proceeds from the sale. Goldman Sachs & Co. and Barclays acted as book-running managers, with Citizens JMP, William Blair, and Needham & Company as co-managers for the offering.
Similarweb (NYSE: SMWB), a leading digital market intelligence company, has announced the pricing of a secondary offering by a selling shareholder. The offering consists of 3,500,000 ordinary shares priced at $7.85 per share, aiming to raise $27,475,000 in gross proceeds. The selling shareholder has granted underwriters a 30-day option to purchase up to an additional 525,000 shares. Similarweb will not receive any proceeds from the sale. The offering is expected to close around September 16, 2024. Goldman Sachs & Co. and Barclays are acting as book-running managers, with Citizens JMP, William Blair, and Needham & Company as co-managers.
Similarweb (NYSE: SMWB), a leading digital market intelligence company, has announced the launch of a secondary offering by a selling shareholder. The offering consists of 3,500,000 ordinary shares, with an option for underwriters to purchase an additional 525,000 shares. Similarweb will not receive any proceeds from the sale. Goldman Sachs & Co. and Barclays are acting as book-running managers, with Citizens JMP, William Blair, and Needham & Company as co-managers. The offering is being made pursuant to a registration statement filed with the SEC on May 10, 2024, which became effective on May 31, 2024.
Similarweb (NYSE:SMWB) has released a report titled 'Shaping the Market 2024: The Brands Defining Retail Trends', highlighting global digital brand trends amid economic uncertainty. The report identifies four key areas:
1. Athleisure: New Balance and Alo Yoga capitalizing on changing consumer wardrobes.
2. K-Beauty: Korean beauty products gaining global traction, with Anua and Mediheal as examples.
3. Quiet Luxury: COS and Loro Piana appealing to understated elegance.
4. Pet Care: Petlibro and PetLab Co succeeding with premium pet solutions.
The report provides detailed digital metrics and success analyses for each brand. It aims to help companies leverage consumer insights for business growth, emphasizing the importance of digital market intelligence in identifying emerging trends and understanding consumer behavior.
Similarweb and HypeAuditor have released their 2024-2025 Marketing Benchmark Report, analyzing digital engagement across banking, food & drink, insurance, air travel, and news & media industries. The report examines the top 500 websites per industry, categorized as 'giants', 'challengers', and 'up & comers'.
Key findings include:
- The importance of benchmarking against competitors in the evolving digital landscape
- The impact of Google's core updates and AI-generated content on digital strategies
- The need for genuine expertise and brand credibility beyond keyword optimization
- The significance of influencer marketing, with banking influencers achieving 4-5 times higher engagement rates than brand accounts
The report aims to help businesses adapt to changing digital marketing trends and optimize their strategies in the face of AI and algorithm changes.
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