Similarweb (SMWB) Q2 2026 earnings summary

Executive summary

• Achieved first-ever quarter of positive GAAP operating profit, with revenue and non-GAAP operating profit exceeding guidance.

• Revenue grew 9% year-over-year to $77.2 million, exceeding guidance.

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

• AI-related revenue reached 13% of total revenue, up from 11% in Q4 2025, with new partnerships and products gaining traction.

• 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.

• Cash and cash equivalents at quarter-end were $73.9 million, with no debt and a $75 million available credit line.

• Deferred revenue increased 21% year-over-year to $141 million; RPO rose 26% to $345.3 million.

Outlook and guidance

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

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

• Q3 2026 revenue expected at $80.5–$82.5 million (13.5% growth at midpoint); non-GAAP operating profit $7.5–$9.5 million.