Similarweb Ltd. announced its financial results for the third quarter ended September 30, 2024, reporting revenue of $64.7 million. This represents an 18% increase year-over-year, marking four consecutive quarters of accelerating growth for the digital intelligence company.
The company reported a GAAP net loss of $2.6 million, translating to a loss of 3 cents per share. However, adjusted earnings, which exclude stock option expenses, came in at 1 cent per share, indicating improved operational performance.
Similarweb achieved an overall Net Revenue Retention (NRR) of 101% and an NRR of 111% for its customers generating over $100,000 in Annual Recurring Revenue (ARR). Furthermore, 52% of the company's ARR is now derived from multi-year contracts, highlighting strong customer commitment and revenue visibility.
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