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BOSTON—Eugenie Levin, President of SEMrush Holdings, Inc. (NASDAQ:SEMR), recently sold shares of the company's Class A Common Stock valued at approximately $81,510, according to a recent SEC filing. The shares were sold at a weighted average price of $11.74, with transaction prices ranging between $11.52 and $11.83. According to InvestingPro data, SEMrush maintains strong financial health with impressive gross profit margins of 83% and holds more cash than debt on its balance sheet.
The sale, which occurred on January 7, 2025, involved 6,943 shares and was conducted to meet tax withholding obligations due to the vesting of restricted stock units (RSUs) on January 1, 2025. This transaction was not a discretionary trade by Levin. Following the sale, Levin retains ownership of 580,549 shares, a portion of which are RSUs. Each RSU entitles Levin to receive one share of SEMrush's Class A Common Stock upon vesting. InvestingPro analysis indicates the company is currently trading slightly below its Fair Value, with 5 analysts recently revising their earnings expectations upward. Discover more insights and 14 additional ProTips for SEMrush through the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Semrush Holdings has reported a robust growth in Q3, 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. Semrush's annual recurring revenue (ARR) also experienced a 24% growth to $401 million, accompanied by the addition of approximately 1,300 net new paying customers.
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. Semrush's CEO and CFO have raised the full-year revenue guidance for 2024 to between $375 million and $376 million, indicating a 22% growth rate at the midpoint. The non-GAAP operating margins for the full year are projected to be around 12%.
Among other recent developments, Semrush has launched a new enterprise SEO product, which is gaining traction with over 90 accounts migrated by October. The company has also acquired Third Door Media, positioning itself to capitalize on its growing total addressable market, which has increased from $13 billion at IPO to approximately $40 billion. Despite muted growth in average ARR per customer due to previous pricing actions, the company has seen an increase in customers paying more than $10,000 annually, from 200 in 2018 to over 4,000.
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