NYSE$SEMR
Semrush Holdings Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Achieved strong revenue growth, ARR growth, and increased profitability.
Semrush reported strong Q3 2023 results, with revenue growth accelerating to 20% year-over-year and ARR growth of 21%. Net income increased to $4.2 million, and Non-GAAP net income improved to $8.4 million. The company is raising its full-year 2023 Non-GAAP net income guidance.
- Third quarter revenue was $78.7 million, up 20% year-over-year.
- ARR reached $322.8 million as of September 30, 2023, up 21% year-over-year.
- Net income for the third quarter was $4.2 million, compared to a net loss of $9.1 million from a year ago.
- Non-GAAP net income for the third quarter was $8.4 million, compared to a non-GAAP net loss of $7.1 million from a year ago.
Headline financials
Revenue & EPS history
Semrush · Revenue · Quarterly
$78.7M
Forward guidance
For the fourth quarter, Semrush expects revenue in a range of $82.7 to $83.7 million, which at the mid-point would represent growth of approximately 21% year-over-year. They expect fourth quarter non-GAAP net income of $4.1 to $6.1 million.
Tailwinds
- Confident in the underlying trends in the business
- Confident in the capabilities of the team
- Continue on the path to delivering strong growth and profitability
- Meaningfully raising non-GAAP net income guidance
- Maintaining a disciplined and balanced approach to improving efficiency and profitability
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-3.7%
Avg return
Earnings day
-2.0%
Avg return
5 days after
+2.4%
Avg return
30 days after
20%
5 / 25 earnings
Positive
+16.9%
Q1 2024
Best reaction
-21.3%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +1.0% | +1.1% | +1.3% | |
| Q3 2025 | +6.1% | +3.8% | +67.2% | |
| Q2 2025 | -20.7% | -22.7% | -16.6% | |
| Q1 2025 | -2.2% | +6.1% | +1.2% | |
| Q4 2024 | -21.3% | -26.8% | -36.6% | |
| Q3 2024 | -3.9% | +1.4% | +2.4% | |
| Q2 2024 | -1.3% | +2.3% | -0.5% | |
| Q1 2024 | +16.9% | +21.8% | +24.3% | |
| Q4 2023 | -13.3% | -9.2% | +4.9% | |
| Q3 2023 | -5.3% | +2.7% | +38.2% | |
| Q2 2023 | +2.8% | -4.0% | -9.3% | |
| Q1 2023 | -14.0% | -12.8% | -21.7% | |
| Q4 2022 | +11.2% | +9.7% | +26.9% | |
| Q3 2022 | -16.4% | -22.7% | -28.9% | |
| Q2 2022 | -3.3% | +4.2% | -10.4% | |
| Q1 2022 | -4.4% | +3.8% | +23.6% | |
| Q4 2019 | -1.7% | -0.9% | -3.1% | |
| Q4 2021 | -4.6% | -20.0% | -15.4% | |
| Q3 2020 | -1.5% | -5.9% | -24.4% | |
| Q3 2021 | -4.8% | +3.8% | -21.8% | |
| Q2 2020 | -2.3% | +3.9% | +33.3% | |
| Q2 2021 | -3.3% | +7.2% | +28.8% | |
| Q1 2021 | -2.1% | +1.2% | -1.4% | |
| Q4 2020 | -2.1% | +1.2% | -1.4% | |
| Q1 2020 | -2.1% | +1.2% | -1.4% |
Discussion
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