Similarweb Posts First GAAP Profit, Raises FY Outlook on AI Demand
SMWB has more than doubled off its 52-week low of $2.22.
Summary
Similarweb delivered its first GAAP operating profit in Q2, with revenue of $77.2M beating estimates by 2.2%. The company raised full-year revenue guidance to $314M-$318M, citing strong AI-related demand and three multi-year enterprise contracts worth over $60M in total. This follows a series of insider transactions in May and a 6-K filing earlier today confirming the results. The raised outlook and profitability milestone mark a significant inflection for the digital analytics firm, which had been unprofitable on a GAAP basis. Q3 revenue is guided to $80.5M-$82.5M, suggesting continued momentum.
At the time of this announcement, SMWB was trading at $8.33 on NYSE in the Technology sector, with a market capitalization of approximately $635.1M. The 52-week trading range was $2.22 to $10.75. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.