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Mark Vranesh, a director at SEMrush Holdings Inc. (NASDAQ:SEMR), has sold 5,000 shares of the company's Class A Common Stock, according to a recent SEC filing. The $1.73 billion market cap company has demonstrated strong financial health with an impressive 83% gross profit margin and 22% year-over-year revenue growth. The transactions, executed on January 2, were conducted under a Rule 10b5-1 trading plan adopted by Vranesh in September 2024. The shares were sold at a weighted average price of $11.69, with prices ranging from $11.41 to $12.00. Following these sales, Vranesh holds 108,731 shares, some of which are restricted stock units. According to InvestingPro analysis, SEMrush is currently trading near its Fair Value, with 13 additional exclusive insights available to subscribers, including detailed insider trading patterns and comprehensive financial health metrics.
In other recent news, Semrush Holdings reported a strong Q3 performance, with a 24% increase in revenue year-over-year, bringing it to $97.4 million. The company's operational success was reflected in a non-GAAP operating income of $12.1 million and an improved non-GAAP operating margin of 12.4%, up from last year's 9.5%. Additionally, Semrush's annual recurring revenue (ARR) grew by 24% to $401 million, with approximately 1,300 net new paying customers added.
These recent developments have led to an increase in the company's 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 raised to $375 million to $376 million, indicating a 22% growth rate at the midpoint.
Semrush's customer base has also seen significant growth, with over 4,000 customers now paying more than $10,000 annually. The company's enterprise SEO product, launched in May 2023, has been well-received, with over 90 accounts migrated by October. These positive developments reflect Semrush's continued growth and adaptability in the expanding digital marketing landscape.
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