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Dmitry Melnikov, a director and significant shareholder of SEMrush Holdings, Inc. (NASDAQ:SEMR), a $1.76 billion market cap company with impressive 83% gross margins, has sold shares valued at approximately $549,944, according to a recent SEC filing. InvestingPro analysis indicates the company maintains strong financial health with a current ratio of 2.41x. The transactions, executed through The Melnikov Family GRAT Remainder Trust, were carried out on December 24, 26, and 27, with share prices ranging from $12.00 to $12.33.
Following these sales, Melnikov holds 8,822,938 shares indirectly through the trust. These transactions were part of a pre-established Rule 10b5-1 trading plan. Additionally, Melnikov maintains direct and indirect holdings across various trusts and entities, including Min Choron LLC and multiple grantor retained annuity trusts, with significant shares still under his control.
In other recent news, Semrush Holdings reported a strong Q3 performance with a 24% increase in revenue year-over-year, reaching $97.4 million. The company's operational success was reflected in a non-GAAP operating income of $12.1 million and a non-GAAP operating margin improvement to 12.4%, up from 9.5% in the previous year. Additionally, Semrush's annual recurring revenue (ARR) grew by 24% to $401 million, accompanied by the addition of approximately 1,300 net new paying customers.
In light of these developments, the company's CEO and CFO have raised the full-year revenue guidance for 2024. The company also anticipates Q4 2024 revenue to be between $100.8 million and $101.8 million, indicating a 21% year-over-year growth. Furthermore, Semrush's full-year 2024 revenue guidance has been increased to between $375 million and $376 million, suggesting a 22% growth rate at the midpoint.
In other recent developments, Semrush has seen an expansion in its customer base, with over 4,000 customers now paying more than $10,000 annually, and nearly 300 customers paying over $50,000. The company's enterprise SEO product launched in May 2023 is also gaining traction, with over 90 accounts migrated by October 2024. These are the recent highlights from Semrush's performance and outlook.
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