Similarweb (SMWB) investor relations material

Executive summary

• Achieved strongest quarter in company history with Q2 2026 revenue of $77.2 million, 9% year-over-year growth, and first-ever positive GAAP operating profit.

• Signed three large multi-year enterprise contracts totaling over $60 million, including deals with AI-driven companies.

• AI-related revenue reached 13% of total revenue, up from 11% in Q4 2025.

• Net retention rate (NRR) improved to 100% overall, 107% for $100K+ ARR customers.

• Raised full-year revenue and operating profit guidance for the second time in 2026 due to strong AI demand and expanding sales pipeline.

Financial highlights

• Q2 2026 revenue: $77.2 million, up 9% year-over-year and above guidance.

• Non-GAAP operating profit: $6.5 million (8% margin), up from $2.4 million in Q2 2025.

• Normalized free cash flow: $8.7 million (11% margin).

• Ended quarter with $73.9 million in cash and no debt; $75 million available credit line.

• Deferred revenue increased 21% year-over-year to $141 million.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $314–$318 million (11.8% growth at midpoint).

• Q3 2026 revenue expected at $80.5–$82.5 million (13.5% year-over-year growth at midpoint).

• Full-year non-GAAP operating profit guidance raised to $24–$26 million.