SEMrush (SEMR) Q3 2025 Earnings
How Did SEMR Stock React to Q3 2025 Earnings?
Did SEMR Beat Earnings? Q3 2025 Results
No. SEMrush reported Q3 2025 earnings of $-0.01 a share on Nov 5, 2025, missing the $0.08 consensus estimate by 113.0%. Revenue was $112.1M against a $111.6M estimate.
Semrush delivered a mixed third quarter, posting revenue of $112.08 million, up 15.1% year-over-year and nudging past the $111.65 million consensus by 0.38%, while its bottom line disappointed sharply, with GAAP EPS of -$0.01 missing the $0.08 consensus by 113.04% as a widening operating loss reflected aggressively higher stock-based compensation, restructuring costs, and stepped-up investment in AI and enterprise expansion. The profitability gap was deliberate by design: non-GAAP operating income climbed to $14.14 million, and operating cash flow surged to $21.89 million, signaling improving cash conversion even as reported earnings lagged. ARR reached $455.40 million, with customers spending over $50,000 annually growing more than 72% year-over-year, underscoring the company's upmarket momentum. The earnings came against a notably eventful backdrop, as Adobe subsequently announced a $1.9 billion cash agreement to acquire the company. Looking ahead, Semrush guided Q4 revenue of $117.50 to $119.50 million, with full-year 2025 revenue targeted at $443.50 to $445.50 million and both non-GAAP operating and free cash flow margins expected near 12%.
- Enterprise traction with customers paying over $10,000 annually growing 30% YoY
- Customers paying over $50,000 annually grew by over 72% YoY
- Accelerating momentum across AI portfolio with ARR more than doubling sequentially
- ARR increased by $20 million to $455.4 million, up 14% YoY
- Dollar-based net revenue retention of 105%
“We delivered strong performance in the third quarter, driven by our enterprise traction and accelerating momentum across our AI portfolio.”
SEMrush CEO, on the earnings call
What Was SEMrush's Outlook in Q3 2025?
For Q4 2025, Semrush expects revenue of $117.5 million to $119.5 million (approximately 15.5% YoY growth at midpoint) and non-GAAP operating margin of approximately 12.5%. For full-year 2025, the company expects revenue of $443.5 million to $445.5 million (approximately 18% YoY growth), non-GAAP operating margin of approximately 12%, and free cash flow margin of approximately 12%.
SEMR YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $112.1M | $97.4M | +15.1% |
| Gross Profit | $89.9M | $80.3M | +11.8% |
Figures from SEC filings and company reports. Not investment advice.