Similarweb (SMWB) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue grew 11% year-over-year to $72.8M, with full-year revenue of $282.6M, up 13% year-over-year.

• Achieved ninth consecutive quarter of positive free cash flow and second consecutive year of positive operating profit, with FY 2025 free cash flow of $13M.

• AI-related revenue reached 11% of Q4 sales, tripling year-over-year, driven by new AI solutions and partnerships.

• Customer base increased to 6,128, with $100K+ ARR customers up 12% to 454, now representing 63% of ARR.

• 2026 is positioned as a transformation year, shifting from building to scaling, with a focus on operational excellence and disciplined execution.

Financial highlights

• Q4 2025 revenue: $72.8M, up 11% year-over-year; FY 2025 revenue: $282.6M, up 13% year-over-year.

• Q4 2025 non-GAAP operating profit: $3.4M (5% margin); FY 2025 non-GAAP operating profit: $9.1M (3% margin).

• Q4 2025 non-GAAP gross margin: 81%; FY 2025 non-GAAP gross margin: 81%.

• Ended 2025 with $72M in cash and no debt; $75M available line of credit.

• Multi-year subscriptions accounted for 60% of ARR, and $100K+ ARR customers contributed 63% of total ARR.

Outlook and guidance

• FY 2026 revenue guidance: $305M–$315M, representing 10% year-over-year growth at midpoint.

• FY 2026 non-GAAP operating profit expected between $16M–$19M; Q1 2026 between $0.5M–$2.5M.

• Q1 2026 revenue guidance: $72M–$74M, 9% year-over-year growth at midpoint.

• Guidance range widened due to timing uncertainty of large LLM deals.