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The shares were sold by The Melnikov Family GRAT Remainder Trust, which is managed for the benefit of certain family members. Following these transactions, Melnikov retains indirect ownership of 8,788,309 shares through various trusts and entities. Additionally, he holds direct ownership of 1,702,590 shares, which include restricted stock units. These sales were conducted under a Rule 10b5-1 trading plan, a pre-arranged trading strategy allowing insiders to sell stocks at predetermined times to avoid potential accusations of insider trading. For deeper insights into SEMrush's valuation and performance metrics, including 15+ additional ProTips and comprehensive financial analysis, check out the detailed company report on InvestingPro. For deeper insights into SEMrush's valuation and performance metrics, including 15+ additional ProTips and comprehensive financial analysis, check out the detailed company report on InvestingPro.
The shares were sold by The Melnikov Family GRAT Remainder Trust, which is managed for the benefit of certain family members. Following these transactions, Melnikov retains indirect ownership of 8,788,309 shares through various trusts and entities. Additionally, he holds direct ownership of 1,702,590 shares, which include restricted stock units.
These sales were conducted under a Rule 10b5-1 trading plan, a pre-arranged trading strategy allowing insiders to sell stocks at predetermined times to avoid potential accusations of insider trading.
In other recent news, Semrush Holdings reported a robust growth in Q3, marking a 24% increase in revenue year-over-year, which reached $97.4 million. The company's operational success was evident in a non-GAAP operating income of $12.1 million and an improved non-GAAP operating margin of 12.4%. Additionally, Semrush's annual recurring revenue (ARR) saw a similar 24% increase, reaching $401 million with the addition of approximately 1,300 net new paying customers.
As per recent developments, the company has raised its full-year revenue guidance for 2024, reflecting confidence in its growth trajectory. 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 adjusted to $375 million to $376 million, indicating a 22% growth rate at the midpoint.
Semrush's customer base is expanding with over 4,000 customers now paying more than $10,000 annually, a significant increase from 200 in 2018. The company's enterprise SEO product launched in 2023 is gaining traction, with over 90 accounts migrated by October. Despite muted growth in average ARR per customer due to previous pricing actions, Semrush maintains a strong balance sheet with $233 million in cash and investments.
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