Raising full-year guidance on strong AI demand and more than $60M in new contracts
Revenue and Non-GAAP operating profit above the guidance range
First ever quarter of positive GAAP operating profit
Overall NRR increased to 100%
TEL AVIV, Israel--(BUSINESS WIRE)--August 12, 2026--
Similarweb Ltd. (NYSE: SMWB) ("Similarweb" or the "Company"), a leading digital data and analytics company powering critical business decisions, today announced financial results for its second quarter ended June 30, 2026.
"We delivered a strong second quarter that I believe marks an important inflection point for Similarweb, with revenue and profit ahead of our expectations," stated Or Offer, Co-Founder and CEO of Similarweb. "NRR increased to 100% for all customers, and we signed three seven-figure multi-year contracts worth more than $60 million combined, including an expansion that made a leading big tech customer our third eight-figure ARR account." Offer concluded, "Commercial demand for our AI-related data and solutions is strong, and an expanding pipeline of opportunities gives us confidence to raise our guidance for the second time this year."
Second Quarter 2026 Financial Highlights
(All results compared with the second quarter of 2025)
-- Total revenue was $77.2 million, an increase of 9% compared to $71.0
million.
-- GAAP profit (loss) from operations was $0.7 million or 1% of revenue,
compared to $(6.9) million or (10)% of revenue. GAAP net loss was $(3.6)
million compared to $(11.8) million. GAAP net loss per share was $(0.04),
compared to $(0.14).
-- Non-GAAP operating profit was $6.5 million or 8% of revenue, compared
to $2.4 million or 3% of revenue. Non-GAAP net income was $5.2 million or
7% of revenue, compared to $1.1 million or 2% of revenue. Non-GAAP
diluted net income per share was $0.06, compared to $0.01.
Second Quarter 2026 Operational Highlights
-- Number of customers with ARR of $100,000 or more increased to 473, an
increase of 9% compared to June 30, 2025.
-- Customers with ARR of $100,000 or more contributed 69% of the total ARR
as of June 30, 2026, increased from 63% as of June 30, 2025.
-- Dollar-based net retention rate (NRR) for customers with ARR of
$100,000 or more was 107% in the second quarter of 2026, compared to 108%
in the second quarter of 2025.
-- Overall NRR was 100% in the second quarter of 2026, compared to 100% in
the second quarter of 2025.
-- 66% of our overall ARR is contracted under multi-year subscriptions as
of June 30, 2026, increased from 57% as of June 30, 2025.
-- Remaining performance obligations, or RPO, increased 26% year-over-year,
to $345.3 million as of June 30, 2026, as compared to $273.8 million as
of June 30, 2025.
Recent Business Highlights
-- Similarweb surpassed $300 million in ARR in June.
-- Similarweb signed three multi-year enterprise contracts in the quarter,
each representing seven-figure ARR commitments, together worth
approximately $60 million in total contract value. The customers are
leading AI-driven companies and large global enterprises relying on
Similarweb's data for strategic decision-making and AI-driven
initiatives.
-- In June, Similarweb expanded its AI ecosystem through a new integration
with Perplexity, embedding its digital data and MCP connector directly
into Perplexity Computer's AI-native workflows, providing businesses with
access to trusted market and competitive intelligence data without
leaving the Perplexity environment.
-- In May, Similarweb expanded its Manus partnership, embedding additional
keyword, referral, and landing page datasets into Manus's AI agent
experience, letting users generate competitive intelligence briefs that
explain not just who is winning online, but why.
Balance Sheet and Cash Flow
-- In the second quarter of 2026, net cash provided by operating
activities was $9.0 million, compared to $2.9 million for the second
quarter of 2025. Free cash flow was $8.7 million, compared to $2.7
million for the second quarter of 2025. Normalized free cash flow was
$8.7 million, compared to $3.8 million for the second quarter of 2025.
-- Cash and cash equivalents was $73.9 million as of June 30, 2026,
compared to $72.4 million as of December 31, 2025.
"Our second quarter results came in above the guidance range on both the top and bottom line, driven by strong performance across our book of business, including new sales and upsells, as well as continued growth in AI-related revenues," said Ran Vered, Chief Financial Officer of Similarweb. "We generated $8.7 million in normalized free cash flow, our eleventh consecutive quarter of positive normalized free cash flow, while delivering an 8% non-GAAP operating margin and our first ever quarter of GAAP operating profit." Vered concluded, "Remaining performance obligations grew 26% year-over-year to $345 million, providing us with confidence to raise our full-year revenue and profit guidance."
Financial Outlook
-- FY 2026 Guidance
-- Total revenue for fiscal year 2026 estimated between $314.0
million and $318.0 million, representing approximately 11.8%
growth year-over-year at the mid-point of the range.
-- Non-GAAP operating profit for fiscal year 2026 estimated between
$24.0 million and $26.0 million.
-- Q3 2026 Guidance
-- Total revenue estimated between $80.5 million and $82.5 million,
representing approximately 13.5% growth year-over-year at the
mid-point of the range.
-- Non-GAAP operating profit estimated between $7.5 million and
$9.5 million.
The Company's third quarter and full year 2026 financial outlook is based upon a number of assumptions that are subject to change and many of which are outside the Company's control. Actual results may vary from these assumptions, and the Company's expectations may change. There can be no assurance that the Company will achieve these results.
The Company does not provide guidance for operating loss, the most directly comparable GAAP measure to non-GAAP operating loss, and similarly cannot provide a reconciliation of this measure to its closest GAAP equivalent without unreasonable effort due to the unavailability of reliable estimates for certain items. These items are not within the Company's control and may vary greatly between periods and could significantly impact future financial results.
The Company has introduced disclosure of both non-GAAP net income (loss) and non-GAAP net income (loss) per share beginning with the second quarter of 2025. A reconciliation of non-GAAP to GAAP financial measures is presented at the end of this press release.
Conference Call Information
The financial results and business highlights will be discussed on a conference call and webcast scheduled at 8:30 a.m. Eastern Time on Wednesday, August 12, 2026. A live webcast of the call can be accessed from Similarweb's Investor Relations website at https://ir.similarweb.com. An archived webcast of the conference call will also be made available on the Similarweb website following the call. The live call may also be accessed via telephone at (877) 407-0726 toll-free and at +1 (201) 689-7806 internationally.
About Similarweb: Similarweb powers businesses to win their markets with Digital Data. By providing essential web and app data, analytics, and insights, we empower our users to discover business opportunities, identify competitive threats, optimize strategy, acquire the right customers, and increase monetization. Similarweb products are integrated into users' workflow, powered by advanced technology, and based on leading comprehensive Digital Data.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to our guidance for the third quarter and full year of 2026 described under "Financial Outlook". Forward-looking statements include all statements that are not historical facts. Such statements may be preceded by the words "intends, " "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. These forward-looking statements reflect our current views regarding our intentions, products, services, plans, expectations, strategies and prospects, which are based on information currently available to us and assumptions we have made. Actual results may differ materially from those described in such forward-looking statements and are subject to a number of known and unknown risks, uncertainties, other factors and assumptions that are beyond our control. Such risks and uncertainties include, without limitation, risks and uncertainties associated with: (i) our expectations regarding our revenue, expenses and other operating results; (ii) our ability to acquire new customers and successfully retain existing customers; (iii) our ability to successfully develop and market AI solutions and to increase usage of our solutions and upsell and cross-sell additional solutions; (iv) our ability to sustain profitability; (v) anticipated trends, growth rates, changes in currency exchange rates, rising interest rates, rising global inflation and current macroeconomic conditions, challenges in our business and in the markets in which we operate, and the impact of geopolitical and macroeconomic conditions or on our company and business; (vi) future investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements; (vii) the
costs and success of our sales and marketing efforts and our ability to promote our brand; (viii) our reliance on key personnel and our ability to identify, recruit and retain skilled personnel; (ix) our ability to effectively manage our growth, including continued international expansion; (x) our reliance on certain third party platforms and sources for the collection of data necessary for our solutions; (xi) our ability to protect our intellectual property rights and any costs associated therewith; (xii) our ability to identify and complete acquisitions that complement and expand our reach and platform; (xiii) our ability to comply or remain in compliance with laws and regulations that currently apply or become applicable to our business, including in Israel, the United States, the European Union, the United Kingdom and other jurisdictions where we elect to do business; (xiv) our ability to compete effectively with existing competitors and new market entrants; and (xv) the growth rates of the markets in which we compete.
These risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled "Risk Factors" in our Form 20-F filed with the Securities and Exchange Commission on March 2, 2026, and subsequent reports that we file with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur.
Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. Except as required by law, we undertake no duty to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.
Non-GAAP Financial Measures
This press release contains certain financial measures that are expressed on a non-GAAP basis. We use these non-GAAP financial measures internally to facilitate analysis of our financial and business trends and for internal planning and forecasting purposes. We believe these non-GAAP financial measures, when taken collectively, may be helpful to investors because they provide consistency and comparability with past financial performance by excluding certain items that may not be indicative of our business, results of operations, or outlook. However, non-GAAP financial measures have limitations as an analytical tool and are presented for supplemental informational purposes only. They should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP or as a measure of liquidity. Free cash flow represents net cash provided by (used in) operating activities less capital expenditures and capitalized internal-use software costs. Normalized free cash flow represents free cash flow less capital investments, payments received in connection with these capital investments and deferred payments related to business combinations. Non-GAAP operating income (loss), non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating margin, non-GAAP research and development expenses, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, non-GAAP net income (loss) and non-GAAP net income (loss) per share represent the comparable GAAP financial figure operating income (loss) or expense, less share-based compensation, adjustments and payments related to business combinations, amortization of intangible assets and certain other non-recurring items, non-operating foreign exchange gains or losses and the relevant net tax effect as applicable and indicated in the below tables.
Other Metrics
Annual recurring revenue $(ARR)$ represents the annualized subscription revenue we would contractually expect to receive from customers assuming no increases or reductions in their subscriptions. Net retention rate (NRR) represents the comparison of our ARR from the same set of customers as of a certain point in time, relative to the same point in time in the previous year ago period, expressed as a percentage.
We define Annual Recurring Revenue (ARR) as the annualized subscription revenue we would contractually expect to receive from customers assuming no increases or reductions in their subscriptions. A contract is included in ARR for a particular period if it is active at the end of the applicable period and is excluded if it is not active at the end of the applicable period. Multi-year contracts are annualized by dividing the total committed contract value by the number of months in the subscription term and then multiplying by 12. ARR excludes non-recurring revenues, non-subscription revenues, revenues that are one-time in nature or revenues from subscriptions to our offerings for a period that is less than an annual subscription term.
ARR is an operational measure that management uses to evaluate the scale of our annual subscription contracts. While ARR is useful in assessing the scale of our contracted subscription business, it is not necessarily indicative of future GAAP revenue, which is subject to factors such as customer renewals, expansions, contractions, churn and upsell or cross-sell opportunities. Since ARR is not a defined measure under GAAP, investors should not consider ARR as a substitute for revenue recognized under GAAP or for other GAAP-related measures such as remaining performance obligations or deferred revenue. ARR differs from revenue recognized in accordance with GAAP because GAAP revenue is recognized as performance obligations are satisfied, includes non-recurring revenues, such as revenue that is one-time in nature, subscriptions with less than an annual term, non-subscription revenue and the effects of contract modifications.
Similarweb Ltd.
------------------------------------------------------------------------
Consolidated Balance Sheets
------------------------------------------------------------------------
U.S. dollars in thousands (except share and per share data)
December 31, June 30,
-------------- ---------------
2025 2026
-------------- ---------------
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $ 72,421 $ 73,904
Restricted deposits 6,360 6,505
Accounts receivable, net 54,063 60,211
Deferred contract costs 11,551 11,909
Prepaid expenses and other current
assets 5,949 8,550
--------- --------
Total current assets 150,344 161,079
--------- --------
Property and equipment, net 22,040 20,427
Deferred contract costs, non-current 8,177 10,069
Operating lease right-of-use assets 34,417 35,338
Goodwill and intangible assets, net 45,581 55,205
Other non-current assets 586 --
--------- --------
Total assets $ 261,145 $ 282,118
--------- --------
Liabilities and shareholders' equity
Current liabilities:
Accounts payable 13,871 6,907
Payroll and benefit related
liabilities 20,342 22,160
Deferred revenue 112,169 139,908
Other payables and accrued expenses 41,342 34,676
Operating lease liabilities 8,841 9,311
--------- --------
Total current liabilities 196,565 212,962
--------- --------
Deferred revenue, non-current 1,226 1,297
Operating lease liabilities,
non-current 34,455 36,411
Other long-term liabilities 5,573 8,679
--------- --------
Total liabilities 237,819 259,349
--------- --------
Shareholders' equity
Ordinary Shares, NIS 0.01 par value
500,000,000 shares authorized as
of December 31, 2025 and June 30,
2026 (Unaudited), 86,964,370 and
88,250,872 shares issued as of
December 31, 2025 and June 30,
2026 (Unaudited), 86,962,202 and
88,248,704 outstanding as of
December 31, 2025 and June 30,
2026 (Unaudited), respectively; 240 244
Additional paid-in capital 419,578 429,357
Accumulated other comprehensive
income 1,000 609
Accumulated deficit (397,492) (407,441)
--------- --------
Total shareholders' equity 23,326 22,769
--------- --------
Total liabilities and shareholders'
equity $ 261,145 $ 282,118
--------- --------
Similarweb Ltd.
---------------------------------------------------------------------------------
Consolidated Statements of Comprehensive Income (Loss)
---------------------------------------------------------------------------------
U.S. dollars in thousands (except share and per share data)
Six Months Ended June 30, Three Months Ended June 30,
-------------------------- ----------------------------
2025 2026 2025 2026
------------ ------------ ------------ --------------
(Unaudited) (Unaudited)
Revenue $ 138,053 $ 151,064 $ 70,966 $ 77,186
Cost of revenue 28,238 30,058 14,268 14,874
---------- ---------- ---------- ----------
Gross profit 109,815 121,006 56,698 62,312
Operating expenses:
Research and
development 36,328 37,557 18,324 18,246
Sales and marketing 63,977 60,955 31,821 30,034
General and
administrative 25,685 26,167 13,437 13,288
---------- ---------- ---------- ----------
Total operating
expenses 125,990 124,679 63,582 61,568
---------- ---------- ---------- ----------
(Loss) profit from
operations (16,175) (3,673) (6,884) 744
Finance expenses,
net (2,642) (3,821) (3,649) (3,199)
---------- ---------- ---------- ----------
Loss before income
taxes (18,817) (7,494) (10,533) (2,455)
Provision for income
taxes 2,291 2,455 1,316 1,136
---------- ---------- ---------- ----------
Net loss $ (21,108) $ (9,949) $ (11,849) $ (3,591)
---------- ---------- ---------- ----------
Net loss per share
attributable to
ordinary shareholders,
basic and diluted $ (0.25) $ (0.11) $ (0.14) $ (0.04)
---------- ---------- ---------- ----------
Weighted-average shares
used in computing net
loss per share
attributable to
ordinary shareholders,
basic and diluted 83,588,536 87,586,363 84,037,145 87,894,370
Net loss $ (21,108) $ (9,949) $ (11,849) $ (3,591)
---------- ---------- ---------- ----------
Other
comprehensive
income (loss),
net of tax
Change in
unrealized
gain (loss) on
cashflow
hedges 2,054 (391) 2,796 483
---------- ---------- ---------- ----------
Total other
comprehensive
income (loss),
net of tax 2,054 (391) 2,796 483
Total
comprehensive
loss $ (19,054) $ (10,340) $ (9,053) $ (3,108)
---------- ---------- ---------- ----------
Share-based compensation costs included above:
U.S. dollars in thousands
Six Months Ended June
30, Three Months Ended June 30,
---------------------- ----------------------------
2025 2026 2025 2026
---------- ---------- ----------- ---------------
(Unaudited) (Unaudited)
Cost of revenue $ 514 $ 341 $ 265 $ 161
Research and
development 3,503 3,265 1,709 1,562
Sales and
marketing 2,753 2,135 1,417 1,031
General and
administrative 5,183 3,404 2,753 1,715
------ ------ --- ------ -----------
Total $ 11,953 $ 9,145 $ 6,144 $ 4,469
------ ------ --- ------ -----------
Similarweb Ltd.
-------------------------------------------------------------------------------
Consolidated Statements of Cash Flows
-------------------------------------------------------------------------------
U.S. dollars in thousands
Six Months Ended June Three Months Ended June
30, 30,
---------------------- -------------------------
2025 2026 2025 2026
------------ -------- ------------ -----------
(Unaudited) (Unaudited)
Cash flows from operating
activities:
Net loss $(21,108) $(9,949) $(11,849) $ (3,591)
Adjustments to
reconcile net loss
to net cash
provided by
operating
activities:
Depreciation and
amortization 4,443 4,217 2,345 2,143
Finance (income)
expense (1,200) 599 (1,040) 275
Unrealized gain
from hedging
future
transactions (77) (18) (47) (26)
Share-based
compensation 11,953 9,145 6,144 4,469
Gain (loss) from
sale of
equipment (17) 7 (17) 9
Changes in operating
assets and
liabilities:
Change in
operating lease
right-of-use
assets and
liabilities,
net 1,828 1,505 2,641 3,465
Decrease
(increase) in
accounts
receivable,
net 8,842 (5,829) (2,917) (11,647)
Decrease
(increase) in
deferred
contract costs 2,112 (2,250) 827 (2,653)
(Increase)
decrease in
other current
assets (621) (2,967) 604 (215)
(Increase)
decrease in
other
non-current
assets (458) 586 (221) --
Decrease in
accounts
payable (3,101) (6,873) (291) (5,362)
Increase in
deferred
revenue 5,741 27,751 5,687 21,830
Increase in
other
non-current
liabilities 111 400 44 480
(Decrease)
increase in
other
liabilities and
accrued
expenses (702) (7,086) 950 (183)
------- ------ ------- -------
Net cash
provided by
operating
activities 7,746 9,238 2,860 8,994
------- ------ ------- -------
Cash flows from investing
activities:
Purchase of property and
equipment, net (709) (492) (208) (177)
Capitalized internal-use
software costs -- (336) -- (99)
Increase in restricted
deposits (272) (145) (137) (73)
Payment for business
combinations, net of
cash acquired (15,671) (6,503) (6,397) --
Acquisitions of
intangible assets -- (300) -- (300)
------- ------ ------- -------
Net cash
used in
investing
activities (16,652) (7,776) (6,742) (649)
------- ------ ------- -------
Cash flows from financing
activities:
Proceeds from exercise
of stock options 2,023 67 1,461 24
Proceeds from employee
share purchase plan 1,155 553 1,155 553
------- ------ ------- -------
Net cash
provided by
financing
activities 3,178 620 2,616 577
------- ------ ------- -------
Effect of exchange rates on
cash and cash equivalents 1,200 (599) 1,040 (275)
Net (decrease) increase in
cash and cash equivalents (4,528) 1,483 (226) 8,647
Cash and cash equivalents,
beginning of period 63,869 72,421 59,567 65,257
------- ------ ------- -------
Cash and cash equivalents,
end of period $ 59,341 $73,904 $ 59,341 $ 73,904
------- ------ ------- -------
Supplemental disclosure of
cash flow information:
Interest received, net $ (680) $ (478) $ (325) $ (245)
Taxes paid $ 1,291 $ 3,471 $ 1,158 $ 3,174
Supplemental disclosure of
non-cash financing
activities:
Additions to operating
lease right-of-use
assets and liabilities $ 2,743 $ 4,839 $ -- $ 4,839
Share-based compensation
included in capitalized
internal-use software $ -- $ 23 $ -- $ 5
Deferred costs of
property and equipment
incurred during the
period included in
accounts payable $ 236 $ 31 $ 236 $ 31
------- ------ ------- -------
Reconciliation of Non-GAAP Financial Measures to the Most Directly
Comparable GAAP Financial Measures
Reconciliation of GAAP gross profit to non-GAAP gross profit
Three Months Ended June
Six Months Ended June 30, 30,
--------------------------- --------------------------
2025 2026 2025 2026
------------- ------------ ------------ ------------
(In thousands) (In thousands)
GAAP gross profit $109,815 $121,006 $56,698 $62,312
Add:
Share-based
compensation
expenses 514 341 265 161
Retention
payments
related to
business
combinations 38 -- 19 --
Amortization
of intangible
assets
related to
business
combinations 805 865 480 410
------- --- ------- ------ --- ------ ---
Non-GAAP gross
profit $111,172 $122,212 $57,462 $62,883
------- --- ------- ------ --- ------ ---
Non-GAAP gross
margin 81% 81% 81% 81%
------- ------- ------ ------
Reconciliation of Loss from operations (GAAP) to Non-GAAP operating (loss)
profit
Three Months Ended June
Six Months Ended June 30, 30,
-------------------------- --------------------------
2025 2026 2025 2026
------------- ----------- ------------- -----------
(In thousands) (In thousands)
(Loss) profit from
operations $(16,175) $(3,673) $(6,884) $ 744
Add:
Share-based
compensation
expenses 11,953 9,145 6,144 4,469
Retention
payments
related to
business
combinations 3,773 1,538 2,214 357
Amortization
of intangible
assets
related to
business
combinations 1,584 1,863 924 949
------- --- ------ ------ ---- ----- ---
Non-GAAP operating
profit $ 1,135 $ 8,873 $ 2,398 $6,519
------- --- ------ ------ ---- ----- ---
Non-GAAP operating
margin 1% 6% 3% 8%
------- ------ ------ --- -----
Reconciliation of GAAP operating expenses to non-GAAP operating expenses
Three Months Ended June
Six Months Ended June 30, 30,
------------------------- --------------------------
2025 2026 2025 2026
------------ ----------- ------------ ------------
(In thousands) (In thousands)
GAAP research and
development $36,328 $37,557 $18,324 $18,246
Less:
Share-based
compensation
expenses 3,503 3,265 1,709 1,562
Retention
payments
related to
business
combinations 978 605 707 73
------ --- ------ ------ --- ------ ---
Non-GAAP research
and development $31,847 $33,687 $15,908 $16,611
------ --- ------ ------ --- ------ ---
Non-GAAP research
and development
margin 23% 22% 22% 22%
------ ------ ------ ------
GAAP sales and
marketing $63,977 $60,955 $31,821 $30,034
Less:
Share-based
compensation
expenses 2,753 2,135 1,417 1,031
Retention
payments
related to
business
combinations 1,578 226 734 --
Amortization
of intangible
assets
related to
business
combinations 779 998 444 539
------ --- ------ ------ --- ------ ---
Non-GAAP sales and
marketing $58,867 $57,596 $29,226 $28,464
------ --- ------ ------ --- ------ ---
Non-GAAP sales and
marketing margin 43% 38% 41% 37%
------ ------ ------ ------
GAAP general and
administrative $25,685 $26,167 $13,437 $13,288
Less:
Share-based
compensation
expenses 5,183 3,404 2,753 1,715
Retention
payments
related to
business
combinations 1,179 707 754 284
------ --- ------ ------ --- ------ ---
Non-GAAP general
and
administrative $19,323 $22,056 $ 9,930 $11,289
------ --- ------ ------ --- ------ ---
Non-GAAP general
and
administrative
margin 14% 15% 14% 15%
------ ------ ------ ------
Reconciliation of GAAP net loss to non-GAAP net (loss) income
Six Months Ended June 30, Three Months Ended June 30,
------------------------------------ ------------------------------------
2025 2026 2025 2026
----------------- ----------------- ----------------- -----------------
(In thousands, except for share and (In thousands, except for share and
per share amounts) per share amounts)
GAAP Net loss $ (21,108) (9,949) $ (11,849) (3,591)
Add:
Share-based
compensation
expenses 11,953 9,145 6,144 4,469
Retention
payments
related to
business
combinations 3,773 1,538 2,214 357
Amortization of
intangible
assets related
to business
combinations 1,584 1,863 924 949
Non-operating
foreign
exchange
(gains)
losses 2,657 3,716 3,563 3,091
Tax effect of
adjustments,
net (130) (108) 115 (82)
---------- --- ---------- --- ---------- ---- ---------- ---
Non-GAAP net income
(loss) $ (1,271) $ 6,205 $ 1,111 $ 5,193
---------- --- ---------- ---- ---------- ---- ---------- ----
Non-GAAP net income
(loss) margin (1)% 4% 2% 7%
---------- ---------- --- ---------- --- ---------- ---
Weighted average
number of ordinary
shares - basic 83,588,536 87,586,363 84,037,145 87,894,370
---------- ---- ---------- ---- ---------- ---- ---------- ----
Non-GAAP basic net
(loss) income per
share attributable
to ordinary
shareholders $ (0.02) $ 0.07 $ 0.01 $ 0.06
---------- --- ---------- ---- ---------- ---- ---------- ----
Weighted average
number of ordinary
shares - diluted 83,588,536 90,048,798 88,215,850 91,059,851
---------- ---- ---------- ---- ---------- ---- ---------- ----
Non-GAAP diluted
net (loss) income
per share
attributable to
ordinary
shareholders $ (0.02) $ 0.07 $ 0.01 $ 0.06
---------- --- ---------- ---- ---------- ---- ---------- ----
Reconciliation of Net cash provided by operating activities
(GAAP) to Free cash flow and Normalized free cash flow
Six Months Ended Three Months Ended June
June 30, 30,
-------------------- ------------------------
2025 2026 2025 2026
---------- -------- ---------- ------------
(In thousands) (In thousands)
Net cash
provided by
operating
activities $7,746 $ 9,238 $2,860 $ 8,994
Purchases of
property and
equipment,
net (709) (492) (208) (177)
Capitalized
internal use
software
costs -- (336) -- (99)
----- ------ ----- -----
Free cash flow $7,037 $ 8,410 $2,652 $ 8,718
----- ------ ----- -----
Deferred
payments
related to
business
combinations 1,660 6,900 1,175 --
----- ------ ----- -----
Normalized
free cash
flow $8,697 $15,310 $3,827 $ 8,718
----- ------ ----- -----
View source version on businesswire.com: https://www.businesswire.com/news/home/20260812027439/en/
CONTACT: Press Contact:
David Carr
Similarweb
press@similarweb.com
Investor Contact:
Rami Myerson
Similarweb
rami.myerson@similarweb.com