Semrush reports Q2 EPS 1c, consensus 7c

Reports Q2 revenue $91M, consensus $89.78M. “We delivered a strong second quarter, exceeding our guidance and positioning us to raise our full year 2024 revenue guidance. Revenue increased 22% year-over-year and ARR grew 25% year-over-year as we focused on continuing to grow our core business, upselling and cross selling our offerings, and expanding our platform. We are also confident in our ability to continue growing and scaling our business as demonstrated by increasing average ARR per customer year-over-year. Notably, our Enterprise SEO product is gaining traction in the market with new deals such as Digital Ocean, HSBC, and the Royal Bank of Canada. We look forward to hosting our first Analyst Day on October 1st to provide more details on our growth initiatives and long-term strategy,” said Oleg Shchegolev, CEO and Co-Founder of Semrush.