- Fourth quarter revenue of $83.4 million, up 21%
year-over-year
- Full year 2023 revenue increases over 21% year-over-year
- Achieves ARR of $337.1 million, up 23% year-over-year
- Full year net income of $1.0 million and Non-GAAP net income of
$16.3 million
Semrush Holdings, Inc. (NYSE: SEMR), a leading online visibility
management SaaS platform, today reported financial results for the
fourth quarter and full year ended December 31, 2023.
“In 2023, we accelerated revenue growth throughout the year,
delivering ARR growth of 23%, and strong profitability. In Q4, we
reported revenue growth of 21% year-over-year, increased paying
customers to nearly 108,000, and our number of free, active
customers surpassed one million for the first time. Looking ahead,
we remain focused on our three main growth pillars: increasing new
user growth, driving expansion by delivering higher value to our
customers, and adding new products and monetization to our
portfolio to address client needs and market trends. I want to
express my sincere gratitude to our growing number of customers,
talented employees, and shareholders who showed incredible support
and loyalty across our business,” said Oleg Shchegolev, CEO and
Co-Founder of Semrush.
Fourth Quarter and Full Year 2023 Financial
Highlights
- Fourth quarter revenue of $83.4 million, up 21% year-over-year
and full year 2023 revenue of $307.7 million, up 21%
year-over-year.
- Net income of $6.9 million for the fourth quarter, compared to
a net loss of $13.9 million in the prior year period.
- Net income of $1.0 million for the full year 2023, compared to
a net loss of $33.8 million for the full year 2022.
- Non-GAAP net income of $11.4 million for the fourth quarter,
compared to a non-GAAP net loss of $11.6 million in the prior year
period.
- Non-GAAP net income of $16.3 million for the full year 2023,
compared to a non-GAAP net loss of $26.5 million for the full year
2022.
- Q4 free cash flow of $8.9 million, full year free cash flow of
$0.3 million.
- ARR of $337.1 million as of December 31, 2023, up 23%
year-over-year.
- Nearly 108,000 paying customers as of December 31, 2023, up
12.5% from a year ago.
- Dollar-based net revenue retention of 107% as of December 31,
2023, compared to 109% in the previous quarter.
See “Non-GAAP Financial Measures & Definitions of Key
Metrics” below for how Semrush defines ARR, dollar-based net
revenue retention, non-GAAP net income (loss), and free cash flow,
and the financial tables that accompany this release for
reconciliations of each non-GAAP financial measure to its closest
comparable GAAP financial measure.
Fourth Quarter 2023 Business Highlights
We are committed to empowering our customers with the
best-in-class platform needed to boost their online presence and
gain an edge in the market. In the fourth quarter, we advanced and
expanded many of our offerings:
- Continued investments in Generative AI to provide enhanced,
more efficient content creation capabilities through Semrush’s
platform and App Center:
- Introduced AI Chat, a generative chat system within
ContentShake AI that allows customers to enter detailed prompts,
request additional content, and ask questions to improve the
content creation process and help businesses connect with a larger
audience.
- Released the AI Ad Copy Generator app, a data-driven tool that
uses billions of ad copies to draft effective copy variations,
helping customers launch high-performing Google Ads campaigns.
- Announced the AI Accessibility Widget, an app that uses AI to
diagnose accessibility issues in real time, enabling businesses to
enhance user-friendliness and ensure website compliance.
- Added Bing to the Position Tracking tool, allowing customers to
set up their tracking campaign and track daily rankings for their
target keyword lists.
- We are pleased to announce our new Enterprise Platform will be
Generally Available (GA) in the first half of 2024. It has been in
a soft launch state since late October 2023 and is currently being
used by a select number of large-scale business customers.
- Semrush customers who pay more than $10,000 annually grew by
more than 30% year-over-year.
- Ended the quarter with more than 1,041,000 registered free
active customers, up nearly 30% year-over-year.
Business Outlook
“During 2023, we were able to re-accelerate revenue growth,
improve our profitability and generate strong free cash flow,” said
Brian Mulroy, CFO of Semrush. “Looking ahead to 2024, we are
confident in our ability to grow and to continue to scale our
business to capitalize on the market opportunity. We remain
committed to a disciplined and balanced approach to spending to
improve efficiency and profitability, even while we invest in
future growth opportunities that we expect will continue to create
long-term, durable growth and value for our shareholders.”
Based on information as of today, March 4, 2024, we are issuing
the following financial guidance:
First Quarter 2024 Financial Outlook
- For the first quarter, we expect revenue in a range of $84.7 to
$85.3 million, which at the mid-point would represent growth of
approximately 20% year-over-year.
- We expect first quarter Non-GAAP operating margin to be
approximately 8%.
Full-Year 2024 Financial Outlook
- For the full year, we expect revenue in a range of $364 to $368
million, which at the mid-point would represent growth of
approximately 19% year-over-year.
- We expect full year Non-GAAP operating margin of 10% to
11%.
- We expect full year free cash flow margin to be in the range of
7% to 8%.
Starting with our guidance for the first quarter 2024 and full
year 2024, we are no longer providing guidance for non-GAAP net
income, and instead will guide both non-GAAP Operating Margin and
Free Cash Flow Margin. We are also updating our definitions of
non-GAAP Income (Loss) from Operations to exclude Amortization of
Acquired Intangible Assets, Acquisition Related Costs,
Restructuring Costs and other one-time expenses outside the
ordinary course of business (for example, our Exit Costs incurred
primarily in 2022) in addition to the current exclusion of Stock
Based Compensation. Our guidance for the first quarter 2024 and
full year 2024 reflect this change. Additionally, with this
release, we are also providing a reconciliation of historical
non-GAAP Income (Loss) from Operations and non-GAAP operating
margin under both the prior definition and the new definition for
the prior periods presented. We believe these changes will allow
investors to better understand our financial performance, better
align with the measures used internally by management in operating
our business, and permit a better evaluation of the efficacy of the
methodology and information used by management to evaluate and
measure our performance.
Reconciliations of non-GAAP operating margin and free cash flow
margin guidance to the most directly comparable GAAP measures are
not available without unreasonable efforts on a forward-looking
basis due to the high variability, complexity and low visibility
with respect to the charges excluded from these non-GAAP measures,
in particular the measures and effects of share-based compensation
expense, employer taxes and tax deductions specific to equity
compensation awards that are directly impacted by future hiring,
turnover and retention needs. We expect the variability of the
above charges to have a significant, and potentially unpredictable,
impact on our future GAAP financial results.
Conference Call Details
Semrush will host a conference call and webcast to discuss its
financial results, business highlights, outlook and other matters,
the details for which are provided below.
Date: Tuesday, March 5, 2024 Time: 8:30 a.m. ET Hosts: Oleg
Shchegolev, CEO, Eugene Levin, President, and Brian Mulroy, CFO
Conference ID: 726760 Participant Toll Free Dial-In Number: 1 (833)
470-1428 Participant International Dial-In Number: 1 (929)
526-1599
Registration:
The live webcast of the conference call as well as the replay
can be accessed for a limited time from the Semrush investor
relations website at http://investors.semrush.com/.
About Semrush
Semrush is a leading online visibility management SaaS platform
that enables businesses globally to run search engine optimization,
pay-per-click, content, social media and competitive research
campaigns and get measurable results from online marketing. Semrush
offers insights and solutions for companies to build, manage, and
measure campaigns across various marketing channels. Semrush, with
nearly 108,000 paying customers, is headquartered in Boston and has
offices in Philadelphia, Trevose, Austin, Dallas, Amsterdam,
Barcelona, Belgrade, Berlin, Limassol, Prague, Warsaw, and
Yerevan.
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, which are statements
that involve substantial risks and uncertainties. Forward-looking
statements generally relate to future events or our future
financial or operating performance. In some cases, you can identify
forward-looking statements because they contain words such as
“may,” “will,” “shall,” “should,” “expects,” “plans,”
“anticipates,” “could,” “intends,” “target,” “projects,”
“contemplates,” “believes,” “estimates,” “predicts,” “potential” or
“continue” or the negative of these words or other similar terms or
expressions that concern our expectations, strategy, plans or
intentions. Forward-looking statements include, but are not limited
to, guidance on financial results for the first quarter and full
year of 2024 (including revenue, non-GAAP operating margin, and
free cash flow margin); statements regarding the expectations of
demand for our products, including demand from return customers,
adoption of and demand for new products and features, statements
about expansion of our platform, the effectiveness of our products
and our competitive advantages, statements about future operating
results, growth opportunities (including new user growth, expansion
from delivering higher value to customers and adding new products
and monetization to address user needs and market trends), future
spending, business trends, capability to improve efficiency and
deliver profits, and growth and value for shareholders.
The forward-looking statements contained in this release are
also subject to other risks and uncertainties, including those more
fully described in our filings with the Securities and Exchange
Commission (“SEC”), including in the sections entitled “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations'' in our filings with the
Securities and Exchange Commission ("SEC"), including our most
recent annual report on form 10-K, and our subsequently filed
quarterly reports and other SEC filings. Although we believe that
our plans, intentions, expectations, strategies and prospects as
reflected in or suggested by those forward-looking statements are
reasonable, we can give no assurance that the plans, intentions,
expectations or strategies will be attained or achieved. The
forward-looking statements in this release are based on information
available to us as of the date hereof, and we disclaim any
obligation to update any forward-looking statements, except as
required by law. These forward-looking statements should not be
relied upon as representing our views as of any date subsequent to
the date of this press release.
Additional information regarding these and other factors that
could affect our results is included in our SEC filings, which may
be obtained by visiting our Investor Relations page on its website
at investors.semrush.com or the SEC's website at www.sec.gov.
Non-GAAP Financial Measures & Definitions of Key
Metrics
We believe that providing non-GAAP information to investors, in
addition to the GAAP presentation, allows investors to view the
financial results in the way management views the operating
results. We further believe that providing this information allows
investors to not only better understand our financial performance,
but also to evaluate the efficacy of the methodology and
information used by management to evaluate and measure such
performance. We also believe that the use of non-GAAP financial
measures provides an additional tool for investors to use in
evaluating ongoing operating results and trends and in comparing
our financial results with other companies in our industry, many of
which present similar non-GAAP financial measures to investors. We
also believe free cash flow margin is useful to investors as we
monitor it as a measure of our overall business performance, which
enables us to analyze our future performance without the effects of
non-cash items and allows us to better understand the cash needs of
our business. The non-GAAP information included in this press
release should not be considered superior to, or a substitute for,
financial statements prepared in accordance with GAAP and may be
different from non-GAAP financial measures presented by other
companies. Investors are encouraged to review the reconciliation of
non-GAAP measures to their most directly comparable GAAP financial
measures provided in the financial statement tables included below
in this press release.
ARR is defined as of a given date as the monthly
recurring revenue that we expect to contractually receive from all
paid subscription agreements that are actively generating revenue
as of that date multiplied by 12. We include both monthly recurring
paid subscriptions, which renew automatically unless canceled, as
well as the annual recurring paid subscriptions so long as we do
not have any indication that a customer has canceled or intends to
cancel its subscription and we continue to generate revenue from
them.
Dollar-based net revenue retention is defined as (a) the
revenue from our customers during the twelve-month period ending
one year prior to such period as the denominator and (b) the
revenue from those same customers during the twelve months ending
as of the end of such period as the numerator. This calculation
excludes revenue from new customers and any non-recurring
revenue.
Free cash flow and free cash flow margin. We define free
cash flow, a non-GAAP financial measure, as net cash provided by
(used in) operating activities less purchases of property and
equipment and capitalized software development costs. We define
free cash flow margin as free cash flow divided by GAAP
revenue.
Non-GAAP income (loss) from operations, non-GAAP operating
margin, and Non-GAAP Net Income. As described above, we have
updated our definitions for non-GAAP income (loss) from operations
and are introducing non-GAAP operating margin; the updated
definitions, which apply to our guidance for the first quarter and
full year 2024, are as follows. We define non-GAAP income (loss)
from operations as GAAP income (loss) from operations,
excluding Stock Based Compensation, Amortization of Acquired
Intangible Assets, Acquisition Related Costs, Restructuring Costs
and other one-time expenses outside the ordinary course of business
(for example, our Exit Costs incurred primarily in 2022). We define
non-GAAP operating margin as non-GAAP income (loss) from
operations divided by GAAP revenue. With respect to our prior
financial results (including the fourth quarter and full year 2023
and comparable periods in 2022), we define (i) non-GAAP net
income as GAAP net income (loss), excluding Stock Based
Compensation and (ii) non-GAAP income (loss) from operations
as GAAP income (loss) from operations, excluding Stock Based
Compensation. We believe investors may want to consider our results
with and without the effects of these items in order to compare our
financial performance with that of other companies that exclude
such items and to compare our results to prior periods.
Stock-based compensation.
Stock-based compensation is a non-cash expense accounted for in
accordance with FASB ASC Topic 718. We believe that the exclusion
of stock-based compensation expense allows for financial results
that are more indicative of our operational performance and provide
for a useful comparison of our operating results to prior periods
and to our peer companies because stock-based compensation expense
varies from period to period and company to company due to such
things as differing valuation methodologies, timing of awards and
changes in stock price.
Amortization of acquired intangible assets.
Excluding amortization of acquired intangible assets from
non-GAAP expense and income measures allows management and
investors to evaluate results “as-if” the acquired intangible
assets had been developed internally rather than acquired and,
therefore, provides a supplemental measure of performance in which
our acquired intellectual property is treated in a comparable
manner to our internally developed intellectual property. These
amounts are inconsistent in amount and frequency and are
significantly impacted by the timing and size of acquisitions.
Although we exclude amortization of acquired intangible assets from
our non-GAAP expenses, we believe that it is important for
investors to understand that such intangible assets contribute to
revenue generation.
Restructuring and other costs.
Restructuring and other costs include restructuring expenses as
well as other charges that are unusual in nature, are the result of
unplanned events, and arise outside the ordinary course of our
business. Restructuring expenses consist of employee severance
costs, charges for the closure of excess facilities and other
contract termination costs. Other costs include litigation
contingency reserves, asset impairment charges, relocation expenses
associated with the migration of employees in 2022 that occurred
throughout 2022 and early 2023, and gains or losses on the sale or
disposition of certain non-strategic assets or product lines.
Acquisition-related costs, net.
In recent years, we have completed a number of acquisitions,
which result in transition, integration and other
acquisition-related expense which would not otherwise have been
incurred, are unpredictable and dependent on a significant number
of factors that are deal-specific or outside of our control, are
not indicative of our operational performance (or that of the
acquired businesses or assets) and are likely to fluctuate as our
acquisition activity increases or decreases in future periods. By
excluding acquisition-related costs and adjustments from our
non-GAAP measures, management is better able to evaluate our
ability to utilize our existing assets and estimate the long-term
value that acquired assets will generate for us.
Semrush Holdings, Inc.
UNAUDITED CONSOLIDATED
STATEMENTS OF OPERATIONS
(in thousands, except per
share data)
Three months ended December
31,
Fiscal Year ended December
31,
2023
2022
2023
2022
Revenue
$
83,394
$
68,785
$
307,675
$
254,316
Cost of revenue ¹
13,684
11,963
52,327
48,553
Gross profit
69,710
56,822
255,348
205,763
Operating expenses
Sales and marketing ¹
31,044
39,596
126,871
126,889
Research and development ¹
15,371
13,261
57,442
41,204
General and administrative ¹
20,613
17,391
77,410
62,779
Exit Costs
—
1,847
1,292
11,264
Total operating expenses
67,028
72,095
263,015
242,136
Income (loss) from operations
2,682
(15,273
)
(7,667
)
(36,373
)
Other income, net
5,585
1,103
12,313
3,456
Income (loss) before income taxes
8,267
(14,170
)
4,646
(32,917
)
Provision for income taxes
1,393
(269
)
3,696
931
Net income (loss)
6,874
(13,901
)
950
(33,848
)
Net income (loss) attributable to
noncontrolling interest in consolidated subsidiary
—
—
—
—
Net income (loss) attributable to Semrush
Holdings, Inc.
$
6,874
$
(13,901
)
$
950
$
(33,848
)
Net income (loss) per share attributable
to common stockholders:
Basic
$
0.05
$
(0.10
)
$
0.01
$
(0.24
)
Diluted
$
0.05
$
(0.10
)
$
0.01
$
(0.24
)
Weighted-average number of shares of
common stock used in computing net income (loss) per share
attributable to common stockholders:
Basic
143,620
141,531
142,593
141,160
Diluted
146,889
141,531
146,065
141,160
¹ includes stock-based compensation
expense as follows:
Three months ended December
31,
Fiscal Year ended December
31,
2023
2022
2023
2022
Cost of revenue
$
48
$
22
$
130
$
74
Sales and marketing
887
1,636
3,077
2,235
Research and development
749
287
2,213
1,123
General and administrative
2,889
332
9,917
3,961
Total stock-based compensation
$
4,573
$
2,277
$
15,337
$
7,393
Three months ended December
31,
Fiscal Year ended December
31,
2023
2022
2023
2022
Reconciliation of Non-GAAP net income
(loss)
Net income (loss)
$
6,874
$
(13,901
)
$
950
$
(33,848
)
Stock-based compensation
4,573
2,277
15,337
7,393
Non-GAAP net income (loss)
$
11,447
$
(11,624
)
$
16,287
$
(26,455
)
Three months ended December
31,
Fiscal Year ended December
31,
2023
2022
2023
2022
Reconciliation of Non-GAAP income
(loss) from operations
($)
(%)
($)
(%)
($)
(%)
($)
(%)
Income (loss) from operations
$
2,682
3
%
$
(15,273
)
(22
)%
$
(7,667
)
(2
)%
$
(36,373
)
(14
)%
Stock-based compensation
4,574
5
%
2,277
3
%
15,337
5
%
7,393
3
%
Non-GAAP income (loss) from operations
(prior definition)
7,256
9
%
(12,996
)
(19
)%
7,670
2
%
(28,980
)
(11
)%
Amortization of acquired intangibles
680
—
%
535
1
%
2,307
1
%
1,880
1
%
Restructuring and other costs
—
—
%
1,847
3
%
1,292
—
%
11,264
4
%
Acquisition-related costs, net
372
—
%
—
—
%
372
—
%
—
—
%
Non-GAAP income (loss) from operations
(new definition)
$
8,308
10
%
$
(10,614
)
(15
)%
$
11,641
4
%
$
(15,836
)
(6
)%
Semrush Holdings, Inc.
UNAUDITED CONSOLIDATED BALANCE
SHEETS
(in thousands)
As of
December 31, 2023
December 31, 2022
Assets
Current assets
Cash and cash equivalents
$
58,848
$
79,765
Short-term investments
179,721
157,774
Accounts receivable
7,897
3,559
Deferred contract costs, current
portion
9,074
6,974
Prepaid expenses and other current
assets
10,014
9,307
Total current assets
265,554
257,379
Property and equipment, net
6,686
8,076
Operating lease right-of-use assets
14,069
12,009
Intangible assets, net
16,083
10,286
Goodwill
24,879
6,529
Deferred contract costs, net of current
portion
3,586
2,082
Other long-term assets
633
2,329
Total assets
$
331,490
$
298,690
Liabilities and stockholders'
equity
Current liabilities
Accounts payable
$
9,187
$
15,495
Accrued expenses
19,891
17,847
Deferred revenue
58,310
49,354
Current portion of operating lease
liabilities
4,274
3,694
Other current liabilities
2,817
2,311
Total current liabilities
94,479
88,701
Deferred revenue, net of current
portion
331
122
Deferred tax liability
839
11
Operating lease liabilities, net of
current portion
10,331
8,929
Other long-term liabilities
1,195
1,023
Total liabilities
107,175
98,786
Stockholders' equity
Class A common stock
1
—
Class B common stock
—
1
Additional paid-in capital
291,898
274,057
Accumulated other comprehensive loss
(752
)
(1,206
)
Accumulated deficit
(71,998
)
(72,948
)
Total stockholders' equity attributable to
Semrush Holdings, Inc.
219,149
199,904
Noncontrolling interest in consolidated
subsidiary
$
5,166
$
—
Total stockholders’ equity
224,315
199,904
Total liabilities and stockholders'
equity
$
331,490
$
298,690
Semrush Holdings Inc.
UNAUDITED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(in thousands)
Fiscal Year Ended December
31,
2023
2022
Operating Activities
Net income (loss)
$
950
$
(33,848
)
Adjustments to reconcile net income (loss)
to net cash provided by (used in) operating activities
Depreciation and amortization expense
6,790
6,650
Amortization of deferred contract
costs
10,379
8,988
Amortization (accretion) of premiums and
discounts on investments
(6,067
)
—
Non-cash lease expense
3,940
4,520
Stock-based compensation expense
15,337
7,393
Non-cash interest expense
209
242
Change in fair value of convertible debt
securities
(3,552
)
(1,152
)
Deferred taxes
301
(253
)
Intangible asset impairment expense
122
642
Loss on disposal of subsidiaries
—
1,738
Other non-cash items
858
—
Changes in operating assets and
liabilities
Accounts receivable
(3,789
)
(3,317
)
Deferred contract costs
(13,982
)
(9,452
)
Prepaid expenses and other current
assets
(2,347
)
(2,446
)
Accounts payable
(7,394
)
6,793
Accrued expenses
1,627
(848
)
Other current liabilities
(238
)
(394
)
Deferred revenue
8,755
9,133
Other long-term liabilities
—
94
Change in operating lease liability
(3,913
)
(4,107
)
Net cash provided by (used in) operating
activities
7,986
(9,624
)
Investing Activities
Purchases of property and equipment
(2,486
)
(4,234
)
Purchases of short-term investments
(257,516
)
(157,899
)
Proceeds from sales and maturities of
short-term investments
241,641
—
Purchases of convertible debt
securities
(326
)
(2,000
)
Capitalization of internal-use software
costs
(5,165
)
(1,706
)
Cash paid for acquisition of assets and
businesses, net of cash acquired
(5,066
)
(13,993
)
Purchases of other investments
(150
)
—
Net cash used in investing activities
(29,068
)
(179,832
)
Financing Activities
Proceeds from exercise of stock
options
2,240
981
Proceeds from issuance of shares in
connection with Employee Stock Purchase Plan
264
758
Payment of finance leases
(2,523
)
(2,084
)
Net cash used in financing activities
(19
)
(345
)
Effect of exchange rate changes on cash
and cash equivalents
184
(275
)
(Decrease) increase in cash, cash
equivalents and restricted cash
(20,917
)
(190,076
)
Cash, cash equivalents and restricted
cash, beginning of period
79,765
269,841
Cash, cash equivalents and restricted
cash, end of period
$
58,848
$
79,765
Unaudited Reconciliation of
GAAP Operating Income (Loss) from Operations and Margin to non-GAAP
Income (Loss) from Operations and Margin for previously reported
periods during 2023
(in thousands, except
percentages)
Three months ended September
30, 2023
Nine months ended September
30, 2023
Reconciliation of Non-GAAP income
(loss) from operations
($)
(%)
($)
(%)
Income (loss) from operations
$
2,748
3
%
$
(10,349
)
(5
)%
Stock-based compensation
4,202
5
%
10,764
5
%
Non-GAAP income from operations (prior
definition)
$
6,950
9
%
$
415
—
%
Amortization of acquired intangibles
557
1
%
1,631
1
%
Restructuring and other costs
—
—
%
1,292
1
%
Acquisition-related costs, net
—
—
%
—
—
%
Non-GAAP income from operations (new
definition)
$
7,507
10
%
$
3,338
1
%
Three months ended June 30,
2023
Six months ended June 30,
2023
Reconciliation of Non-GAAP income
(loss) from operations
($)
(%)
($)
(%)
Loss from operations
$
(2,329
)
(3
)%
$
(13,097
)
(9
)%
Stock-based compensation
3,765
5
%
6,561
5
%
Non-GAAP income (loss) from operations
(prior definition)
$
1,436
2
%
$
(6,536
)
(4
)%
Amortization of acquired intangibles
548
1
%
1,070
1
%
Restructuring and other costs
309
—
%
1,292
1
%
Acquisition-related costs, net
—
—
%
—
—
%
Non-GAAP income (loss) from operations
(new definition)
$
2,293
3
%
$
(4,174
)
(3
)%
Three months ended March 31,
2023
Reconciliation of Non-GAAP income
(loss) from operations
($)
(%)
Loss from operations
$
(10,768
)
(15
)%
Stock-based compensation
2,796
4
%
Non-GAAP loss from operations (prior
definition)
$
(7,972
)
(11
)%
Amortization of acquired intangibles
522
1
%
Restructuring and other costs
983
1
%
Acquisition-related costs, net
—
—
%
Non-GAAP loss from operations (new
definition)
$
(6,467
)
(9
)%
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240304664455/en/
INVESTOR Brinlea C. Johnson The Blueshirt Group Semrush
Holdings, Inc. ir@semrush.com
MEDIA Jesse Platz VP of Analyst and Public Relations
Semrush Holdings, Inc. jesse.platz@semrush.com
SEMrush (NYSE:SEMR)
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