November 11, 2025 — Leads & Copy — Similarweb Ltd. (NYSE: SMWB) reported its third-quarter financial results for the period ended September 30, 2025, showcasing growth in revenue and customer base. The company’s management highlighted these results in a letter to shareholders, available on the investor relations website.
Similarweb’s Co-Founder and CEO, Or Offer, expressed pride in the third-quarter financial outcomes, noting that they reflect the company’s focus on disciplined execution and the sustained demand for its Digital Data. He pointed to the 26% year-on-year increase in Remaining Performance Obligations (RPO) and a 15% increase in customer count, alongside an 11% revenue growth for the quarter.
Offer also emphasized the commercial interest in Similarweb’s Generative AI data and solutions, stating that revenues from these areas are among the company’s fastest-growing revenue streams this quarter. He added that the company is just beginning to explore the full potential of its data and the addressable markets it serves.
Key financial highlights from the third quarter of 2025 include:
- Total revenue reached $71.8 million, up 11% from $64.7 million in the third quarter of 2024.
- GAAP loss from operations was $(2.7) million, or (4)% of revenue, compared to $(2.5) million, or (4)% of revenue, for the third quarter of 2024.
- GAAP net loss amounted to $(4.3) million, compared to a net loss of $(2.6) million in the same quarter of the previous year.
- GAAP net loss per share was $(0.05), compared to $(0.03) for the third quarter of 2024.
- Non-GAAP operating profit was $4.6 million, or 6% of revenue, compared to $4.4 million, or 7% of revenue, for the third quarter of 2024.
- Non-GAAP net income was $4.4 million, or 6% of revenue, compared to $4.0 million, or 6% of revenue, in the third quarter of 2024.
- Non-GAAP basic and diluted net income per share was $0.05, consistent with the third quarter of 2024.
- As of September 30, 2025, cash and cash equivalents totaled $65.5 million, compared to $63.9 million as of December 31, 2024.
- Net cash provided by operating activities was $3.5 million, compared to $9.3 million for the third quarter of 2024.
- Free cash flow was $3.0 million, compared to $8.7 million in the third quarter of 2024.
- Normalized free cash flow was $3.0 million, compared to $9.0 million in the third quarter of 2024.
Other business highlights include:
- The number of customers grew to 6,127 as of September 30, 2025, a 15% increase compared to the previous year.
- Customers with ARR of $100,000 or more numbered 447, a 13% increase year-over-year.
- Customers with ARR of $100,000 or more contributed 63% of the total ARR as of September 30, 2025, up from 60% in the previous year.
- The dollar-based net retention rate (NRR) for customers with ARR of $100,000 or more was 105% in the third quarter of 2025, compared to 111% in the third quarter of 2024.
- Overall NRR was 98% in the third quarter of 2025, compared to 101% in the third quarter of 2024.
- Multi-year subscriptions accounted for 58% of the company’s overall ARR, up from 45% in the previous year.
- Remaining performance obligations (RPO) increased 26% year-over-year, reaching $267.6 million as of September 30, 2025.
Ran Vered is slated to join Similarweb as CFO in December, bringing over two decades of finance experience. Offer also thanked Jason Schwartz for his decade of service as CFO.
Similarweb provided the following financial outlook for fiscal year 2025:
- Total revenue is estimated between $285.0 million and $288.0 million, representing approximately 15% growth year-over-year at the mid-point of the range.
- Non-GAAP operating profit is estimated between $8.5 million and $9.5 million, an increase from the previous estimate.
A conference call to discuss these results is scheduled for November 12, 2025, at 8:30 a.m. Eastern Time, with a live webcast available on Similarweb’s Investor Relations website.
Similarweb provides web and app data, analytics, and insights to empower businesses. Its products are integrated into users’ workflows and based on Digital Data.
Source: Similarweb Ltd.
