Similarweb Ltd. (SMWB) has released an update.
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Similarweb Ltd. reports robust first-quarter 2024 financial results with a 12% revenue increase to $59.0 million and a significant reduction in GAAP operating loss, alongside a strong bottom line showing a third consecutive quarter of non-GAAP operating profit and free cash flow. The company’s customer base grew by 16%, bolstered by the acquisition of Admetricks and the launch of SAM, an AI-powered Sales Assistant Module, indicating sustained business growth and investment in product enhancement. Looking ahead, Similarweb maintains its revenue outlook and projects further improvement in non-GAAP operating profit for 2024.
For further insights into SMWB stock, check out TipRanks’ Stock Analysis page.
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