Similarweb Ltd. - SMWB STOCK NEWS

Similarweb Ltd. (NYSE: SMWB) announced a robust fourth quarter 2021, with revenue reaching $40.2 million, a 51% year-over-year increase. Net Revenue Retention (NRR) for customers with $100K+ Annual Recurring Revenue (ARR) improved to 125%. The total ARR grew to $165 million, up 44%. Despite a GAAP operating loss of $(22.9) million and cash equivalents reducing to $128.9 million, the company projects an optimistic Q1 2022 revenue guidance of $41.1 million to $41.5 million, indicating continued growth momentum.

Similarweb (NYSE: SMWB) announced a new data licensing alliance with App Annie, integrating mobile app market data into its product suite. This collaboration will enable companies to access comprehensive web and mobile app insights from a single vendor. Set to launch in Q2, the new module will provide key mobile app metrics, enhancing clients' ability to optimize digital growth strategies. Similarweb’s Chief Product Officer emphasized the importance of accurate data collection and privacy compliance.

Similarweb Ltd. (NYSE: SMWB) will release its fourth quarter and fiscal year 2021 financial results on February 16, 2022. The report covers the period ending December 31, 2021. Management will hold a conference call and webcast at 8:30 a.m. EST to discuss the results and the company’s business performance. Investors can access the live webcast on Similarweb’s Investor Relations website. Archived content will also be available post-call.

Similarweb (NYSE: SMWB) has appointed Joe Del Preto, a seasoned executive with substantial experience in SaaS marketing solutions, to its board of directors. His expertise includes previous roles as CFO at Sprout Social and Global Controller at Groupon. CEO Or Offer emphasized Del Preto's capability to help drive Similarweb's mission to enhance digital business growth. This leadership change comes at a pivotal time for the company, enhancing its strategic direction as it continues to support businesses navigating digital markets.

Ermetic, a leader in cloud infrastructure security, has appointed Avi Israel as CFO. Israel, previously at SimilarWeb (NYSE: SMWB), played a key role in its billion-dollar IPO. The company has successfully raised $100M, including $70M in its latest Series B financing. Ermetic's technology focuses on reducing the attack surface of cloud infrastructure and enforcing least privilege at scale, positioning it well in the cloud security market. CEO Shai Morag emphasized Israel's experience as crucial for managing the company's rapid growth.

Similarweb has launched a free website-ranking API to assist Alexa.com users following Amazon's decision to discontinue the service in May 2022. This API is part of Similarweb's broader initiatives aimed at capturing the market share left by Alexa. By registering, users gain access to Similarweb DigitalRank(TM) and analytics tools that provide real-time competitive insights and benchmark website performance. The company positions itself as a leader in digital intelligence and promises enhanced data accuracy for strategic decision-making.

Similarweb (NYSE: SMWB) has enhanced its Sales Intelligence solution with the launch of a global database called Contacts, featuring over 400 million professional contacts. This addition enables sales teams to improve targeting and connection with prospects, particularly in e-commerce and digital media. The platform integrates into existing sales workflows, allowing users to segment leads and enrich CRMs with web traffic data. Trusted by over 450 companies worldwide, Similarweb aims to empower organizations with data-backed insights to drive smarter sales strategies.

Similarweb (NYSE: SMWB) has expanded its Shopper Intelligence platform to include insights on sales and market performance for Walmart, Target, Best Buy, and Chewy, in addition to Amazon. This enhancement, launched in July 2023, provides comprehensive data on approximately 78% of all sales volume from the top ten U.S. online retailers. The initiative aims to address the visibility issues faced by consumer brands in monitoring competitive performance. The company asserts that they are on track to becoming the standard for digital retail insights.