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BOSTON—Dmitry Melnikov, a director and significant shareholder of SEMrush Holdings, Inc. (NASDAQ:SEMR), has reported the sale of company stock valued at approximately $29,678. The transactions took place on January 7, 2025, and involved the sale of 2,540 shares of Class A Common Stock at prices ranging from $11.68 to $11.69 per share. According to InvestingPro data, SEMrush currently trades at $11.50, with a market capitalization of $1.69 billion. The company maintains a "GOOD" Financial Health score, supported by impressive gross profit margins of 83%.
The SEC filing indicates that a portion of these sales was conducted through The Melnikov Family GRAT Remainder Trust, which is managed for the benefit of Melnikov's family members. Melnikov's direct and indirect holdings now include significant shares held through various trusts and personal accounts.
Melnikov, who is both a director and a ten percent owner of SEMrush, conducted these transactions under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks in a manner that avoids allegations of insider trading. The sales were partly executed to cover tax obligations related to restricted stock units that vested at the start of the year.
Following these transactions, Melnikov retains substantial holdings in SEMrush through direct ownership and various trusts.
In other recent news, Semrush Holdings has announced substantial growth in its Q3 results, along with an optimistic outlook for 2024. The company reported a 24% increase in revenue, reaching $97.4 million, and a non-GAAP operating income of $12.1 million. The operational success has led to a non-GAAP operating margin improvement to 12.4%, up from the previous year's 9.5%.
Semrush's annual recurring revenue (ARR) also saw a 24% increase, reaching $401 million. The company added approximately 1,300 net new paying customers, contributing to the growth. Semrush's management has expressed confidence in their growth trajectory, raising the full-year revenue guidance for 2024.
The company's Q4 2024 revenue is expected to be between $100.8 million and $101.8 million, representing a 21% year-over-year growth. The full-year 2024 revenue guidance has been revised to range between $375 million and $376 million, indicating a 22% growth rate at the midpoint. Non-GAAP operating margins for the full year are expected to be around 12%.
Semrush's recent developments include the acquisition of Third Door Media and the launch of a new enterprise SEO product. These strategic initiatives have resulted in a larger customer base and higher average ARR per paying customer, now exceeding $3,400.
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