<div>
  <ul>
    <li>
      <p>
        Semrush, a search engine optimization (SEO) tool, reported a revenue growth of 19% YoY to USD 74.7 million in Q2 2023, which was broadly in line with the upper bound of company guidance and analyst expectations. This was driven by customer growth, as the firm added 4,000+ customers during the quarter, hitting 104,000+ by the end of the quarter (14% YoY growth). The growth was also supported by higher average revenue per customer, where the number of customers paying more than USD 10,000 annually grew by 34% YoY. The firm achieved an annual recurring revenue (ARR) of USD 302.4 million (20% YoY growth) by Q2 2023.
      </p>
    </li>
    <li>
      <p>
        During the quarter, the firm's net loss improved significantly, narrowing to USD 0.3 million from USD 8.3 million in Q2 2022. The corresponding loss per share reached breakeven, surpassing analyst expectations of USD 0.02 per share. This was partly&nbsp;driven by strong topline growth and an improved gross profit margin of 83% (compared to 80% in Q2 2022), partially countered by increased research and development expenses (46% YoY growth) and general and administrative costs (36% YoY growth).
      </p>
    </li>
    <li>
      <p>
        For Q3 2023E, the firm expects revenue to be between USD 78 million and USD 79 million (18.5%&ndash;20% YoY growth). For the full-year 2023E, the company raised its revenue target to range from USD 307 million to USD 309 million (21%&ndash;22% YoY growth), while the non-GAAP net income target was revised to range from USD 2 million to USD 4 million.&nbsp;
      </p>
    </li>
    <li>
      <p>
        During the quarter, the company focused on boosting content creation with advanced generative AI. Highlights included the launch of the Accessibility Scan &amp; Monitor app for identifying accessibility compliance issues, and Kompyte GPT for streamlined Battlecard creation. Moreover, the ContentShake app included AI-powered additions to the SEO Writing Assistant and the &quot;Ask AI&quot; feature.
      </p>
    </li>
    <li>
      <p>
        <b>Analysts QuickTake: </b>
        Semrush continued to maintain its momentum with respect to customer growth, maintaining the double-digit growth experienced in the 
        <a href="https://sp-edge.com/updates/18335">
          previous quarter
        </a>
        . The introduction of new generative AI solutions, coupled with its comprehensive SEO offerings, would further support its growth.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.portada-online.com/businesswire/semrush-announces-second-quarter-2023-financial-results/">
      Press release&nbsp;
    </a>
  </p>
  <p>
  </p>
</div>


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Semrush continues strong sales momentum; revenue guidance beats analyst expectations

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All Updates