Similarweb Ltd. announced its financial results for the first quarter ended March 31, 2025, reporting total revenue of $67.1 million. This represents a 14% increase year-over-year, exceeding the top end of the company's estimate range.
The company reported a GAAP operating loss of ($9.3) million, or (14%) of revenue, for Q1 2025. The non-GAAP operating loss was ($1.3) million, or (2%) of revenue, which was in line with guidance and reflects investments in growth initiatives.
Similarweb's customer base grew by 19% year-over-year to 5,767 ARR customers, and remaining performance obligations (RPO) increased by 18% year-over-year to $253 million. The overall Net Revenue Retention (NRR) was 101%, with NRR for $100,000+ ARR customers at 111%.
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