Similarweb Ltd. - SMWB STOCK NEWS

Similarweb enhances its digital analytics capabilities by introducing a new filter for activity in South Korea, expanding its market analysis tools for customers seeking insights specific to this region. This enhancement allows users to analyze traffic and engagement across websites and apps, supported by 24 months of historical data for websites and 15 months for apps. Senior Vice President Uri Snyder highlighted South Korea's significance as the fourth largest economy in Asia and noted a 14% year-over-year digital growth in the fashion and apparel industry, positioning it as the second-highest globally.

Fiverr International Ltd. (NYSE: FVRR) launched “Project Partner,” a service designed for Fiverr Business customers, aimed at managing complex projects seamlessly. This initiative targets medium to large enterprises, offering services such as a vetted talent pool, team collaboration tools, and personalized onboarding. The Project Partner will oversee project execution from initiation to completion, ensuring timely delivery and budget adherence. Companies like Similarweb have benefitted from this service, simplifying their project management processes. Since its inception in September 2020, Fiverr Business has catered to corporate teams, enhancing operational efficiency and facilitating access to skilled freelancers globally.

Similarweb Ltd. (SMWB) reported a 28% year-over-year revenue growth in Q4 2022, reaching $51.3 million. The annual recurring revenue surpassed $200 million. Despite challenges, the number of customers rose by 16% to 4,049, with an average revenue per customer of $51,600. The company aims for sustained positive cash flow by Q4 2023, with projected FY 2023 revenue between $221 million and $222 million. Operating losses are expected to be between $(30 million) and $(31 million). Cash and equivalents stood at $77.8 million as of year-end 2022.

Similarweb Ltd. (NYSE: SMWB) is set to release its fourth quarter and fiscal year 2022 financial results on February 14, 2023, following the market close. A conference call will be conducted on February 15, 2023, at 8:30 a.m. EST to discuss these results. The call will be available via webcast on the company’s Investor Relations website and can also be accessed by telephone. Similarweb is recognized for providing insights into online behavior, aiding various users in making informed decisions across the digital landscape.

Similarweb has released its annual Digital 100 ranking, highlighting the top 10 fastest-growing digital domains across various business categories for 2022. Notable winners include mobilpromotions.com (Automotive, +248.4%), laurageller.com (Beauty, +164%), and synchrony.com (Financial Services, +3,388%). The ranking reflects shifts in consumer behavior, with an emphasis on budget-conscious choices amid rising inflation. Collectively, these sites attracted nearly 50 million visits monthly, showcasing their effective strategies in responding to changing market dynamics.

Similarweb Ltd. (NYSE: SMWB) reported a 41% year-over-year revenue growth in Q3 2022, reaching $50.0 million. Non-GAAP operating margins improved by over 12 percentage points. The number of customers increased by 21% year-over-year, totaling 3,911, with a 15% rise in average revenue per customer. However, the company announced a 10% reduction in headcount due to economic shifts and adjusted its revenue outlook for the year. Full-year 2022 revenue is projected between $192.4 million and $192.8 million, reflecting 40% growth.

Similarweb Ltd. (NYSE: SMWB) will announce its third quarter 2022 financial results on November 15, 2022, after market close. A conference call and webcast will occur on November 16, 2022, at 8:30 a.m. EST to discuss the results. Investors can access the live call via telephone or through Similarweb's Investor Relations website. Similarweb is known for providing digital intelligence insights to help individuals and businesses make informed decisions in the digital landscape.

Similarweb (NYSE: SMWB) has announced a strategic collaboration with EDO, Inc. to create a comprehensive solution for Convergent TV measurement. This partnership will allow EDO to receive real-time internet activity data from Similarweb to enhance their understanding of consumer behavior related to linear and streaming TV ads. The joint initiative aims to deliver actionable insights for advertisers and improve performance in an evolving digital landscape, prioritizing customer privacy amidst changing regulations.