SEMR - Earnings call 3 2023 | Semrush Holdings, Inc.

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Operator

Thank you for standing by, and welcome to the Semrush third quarter earnings conference call. [Operator Instruction]I'd like to hand over to Brinlea Johnson to begin the call. Please go ahead.

Brinlea Johnson

Good morning, and welcome to Semrush Holdings Third Quarter 2023 Conference Call. We'll be discussing the results announced in our press release issued after market closed on Wednesday, November 1. call and CEO, our a President, Shchegolev; on Levin; Eugene CFO, me is Oleg our our With Brian Mulroy. contain harbor Private will to of call forward-looking are which Today's made XXXX. the safe Litigation provisions Securities the of Reform Act statements, pursuant

are statements statements reflect as only with expect, views not to that any position, include, opportunities, sales results and our differ upon we such representing to to, and fourth competitive concerning market our Forward-looking including as other the statements products that existing of be or update activities, staffing any be XXXX and results, can improvement, demand future the operating and and for These statements intend, seek but full our identified condition, are margin of profitability.Forward-looking of marketing financial date. for and about not revenue facts performance relied of today market words do views AppCenter risks these our believe, new and and materially financial as our and the future at statements.Forward-looking And will. anticipate, trends, these and than can, could matters year and address cause any forward-looking XXXX, statements. are undertake uncertainties statements not expansion, levels, features, expected sufficiency subsequent expected our quarter limited actual from statements statements pricing and guidance growth business should growth, industry duty and our plan, adoption to our subject statements and

and GAAP the reports on is to Commission be which SEC.Also, the showing please to a affect as the as release XX-Q to our yesterday with on of over other our course filed close, Securities currently investors.semrush.com.And risks available most Oleg. in There our our at well Exchange measures. turn report me important press non-GAAP certain the and For let could results, reconciliation can quarterly with versus refer factors of found non-GAAP refer we XX-K the annual schedule issued our financial market filings that, Form call during and with recent Form the today's results actual a that after call, discussion

Oleg Shchegolev

and to you, call. morning the Thank good on everyone

team Our well this of $XX.X XX% executed quarter up revenue delivering year-over-year. million,

non-GAAP guidance we we reporting income net million. year continue profitability. income full performance sustained $X.X net to quarter, Importantly, our Due generated strong we're as raising to towards also of this solid our profitability, non-GAAP drive

quarter built profitability, sustainable business growth driving have improving focused strong and a exception. We with on this was no

handing it call, Semrush.On that major we visibility combination I and invested in how assets platform invest customers online our talked I over share software about products channels. a unique we discussed across have like more about why of excited the Before detail, to on in earnings would Brian to call and on a of few quarter touch create a last heavily future we're to about their last the to to all and improve and highlights talk our Eugene helps continue data

in has platform to worlds, While over there their businesses the sizes, believe visibility.We of are improve all we online for all the all point Semrush remain of product industries, markets. across competitors, become differentiated choice our

industry strong help assets data Importantly, our dynamics. we clients of to because are uniquely positioned because certain and our of

significant customers, big ROI data looking for with from make data used fed and of predictive companies combination their at our can algorithms. engine being Collectively, strong on from property is assets dynamics, Our intellectual together we our search have customers.When money collected a allows positioning industry this capabilities that us primarily into advertising. to tech generate from our drive based that our our new strong data own that unique that's competitive historical comes

if the They leveraged would on organic, because successful, their their be tools excel As marketing Because platform. advertisements the particularly, organic unbiased presence changed, create for PR. brands. be new and the come from only of not it visibility of from customers without than shift to their and important to being the on benefit to their optimal and hand, of not platform designed to is a continue a a we unbiased competitive in brands, other this, physical other or efforts platforms. get media, efforts ways towards vast a creating use the dollars physical allocated social across in the This those spend best digital businesses were marketing but ROI efforts, order visibility.Historically, their advice tectonic to its able result, away has online advice awareness array to ROI But believe must these that interest are at paid search, must we their own.Semrush, is embrace expected they online highest on optimize their provides them. own seeks their on world best of clients now world to to give advertising companies activities significant clients

that be than that with the these are need need as their to the time. competitive channels, the discussions part social themselves easily the at discovered components now top spend Now, recognize critical in world distinguish they happening they and brands consumers where they the we be businesses online.To are demands successful, places media that to ever, on to appear rankings, of be online, need live a more connecting in of to they

have ROI believe as exponential more saturated.Through continues markets of built a of maintain to presence become shift, what still is strengthen R&D, and of Semrush This years platform the we the are investments set we our only and competitive channels. in does. expertise unique companies data enhance all across We in and online the to innings Semrush early for compelling provided XX online a essence by this and

establish, companies We maintain, help Internet. online and the of enhance GPS presence. their are We

for can rankings an map they years. manufacturing were client and us, whose their and they their most routes choose journey client out online which Our Then X stalled began and sales customers and a is with furniture new me time.Let any routes can organic SMB at marketing business, content for change example everything the efficient provide changed. of

call fix best saw and explored built and believe problems one their audit Magic First, to tailwinds audit create with that site a improve how in example they do analyze, businesses the shift Semrush provides tools organic their and where impressive And can are they years, on and visibility able their awareness engagement. and to potential plan online.We businesses effort, generate underlines time, place businesses will Overview results, in all and step-ups backlink of discuss faring this are their have XX% traffic. industry and the execute were started and this. for were doing, for competitors we report exceptional Brian to excited Research health site positions These for durable of will show increasingly detail. where to and holds website our the growth.We unique our They to over results the are tools, Organic a how they about offering began increase tool the our us and to using strong they turn enjoy This to the Semrush.I they over more in what score. strategy online future Then, and what visibility.Next, Keyword next with quarter the X today they a now tool. Position Keyword well tracking money sit lasting, Eugene keyword in and to added shifting the software

Eugene Levin

this up and solid to another you, and review, continued generate X our of to increasing the Oleg. long-term our clients our users; three, on for value new pillars trends.Let two, front. quarter. me to we're needs main X we provide are: quarter and pillars progress portfolio set We from us products delivered to making adding main growth; growth update Thank each focused growth, on one, an durable market be address maximizing To user new growth from

quarters. we XXX,XXX First, user and achieved now have new QX, over our platform, customer We long of customers us.In a and net core solid registrations adoption we runway within we of believe continued a additions with paying ahead new increasing have growth. our the and use more internal efforts, online for spend own organic own on efficient seen By we've our pillar. sales optimizing marketing second our engine in growth presence.Turning to prior and using boosted our marketing sales we and platform than

and We as grow our have users. maximize we a value generate customers from our the to strategy grow

and During we cross-sell QX, saw continued leveraging brand upsell our to base. into user success our

to our we cohort rollout QX also quarter, optimize our pricing. took some a value of early pay expectations this the align to given unique have we recent need offering product with provides. delivers.During by adds encouraged were tested for and opportunity were In tremendous retention in price the strategy with with QX, strong net pricing more of increases part our response, indicates and and it better new as This we into are line our We benefits and trends. a the customers, customers of willing to initiated a our the view, and

think be to and which phases raise would findings pricing prices initial value time is thoughtful contribute to to adjustments, room still of growth.Our we also are we there in that provide, plan this to early over more While suggest measured. the may we better prudently further our capture be

our launched us we growth social delivering insights continue so exceptional during some excellent broader by good commitment last pricing of monetization our changes quarter, and expect this of made we that while new progress new our AI are adoption growth. data initiatives any our to strategy long-term is on testing QX, for set and products portfolio adding customer for We and tools. analyzing on products backed features saw pillar our value.The up to maintaining to this media And durable of front.During

AppCenter, of pleased are tools We efficiently additional mid-market in the and segments. to which continued adding platform.We're we our also enterprise customer ROI capabilities clients products, of from one saw our which of our ways for further increase is their especially in and adoption adoption about the

and move as discussion maximizing user Brian. and turn will our who guidance. revenue call we our growth, more Go continue performance the functions products, value financial Brian, very clients generate with value summary, a success add more ahead, average able upmarket, detailed As base of to to higher more customer in we're expanding provide I'm our pleased our of over user.In driving result, And find will now features. portfolio.I per and the our a product to

Brian Mulroy

Thank you, Eugene.

lay markets a data our our organization, served to our the data the like first facilitate over for customer impressed our third discuss the To with data other also valuable base meaningful our finance incredibly like X opportunity dynamics their traveled many to X rigorously penetrating and been improvements over both an sales, I to with a our CFO. years operate allocate I'd and [ to learned new to marketing a ability and patterns, team I've among and and further do throughout businesses. see the externally.Over as decision-making how respective quarter next a I've offices growth driving set, as on ], have platform.Importantly, analyze user several online to us profitability. in internally I'd in by such command the buying to vision plan also this relentless and quarters to while quarters, I've and team this is more will the their I for what results segment interest Semrush for our I reflect met Before things.Our finance focus to on to past leaders my here has organization. durable in Semrush I out my products. of for visibility Semrush churn investment with finance Semrush products. discuss team products, our understand several achieve their has significant markets to opportunity metrics see I their Because detail,

strong already decisions, we whether some us realized our our this be be operational XXXX and framework. this apply encouraged deep results, on this our report but approach external when planning I are the seeing feel opportunities, into time driving M&A simultaneously but our outlook take structure. I biggest fully ROI that and very We'll is so have our for enables capital to begun what you next This we're more give capital of our by details quarter, using will expect far on XXXX them disciplined in We while sharing you to detail. quarter outcome like quarter or in a optimization results approximately days.With very the to more had I'd turn will framework to to the internal We forward board. will efficiencies.We third in projects, our that, allocation a XX that look expect we of capitalize across with to

revenue net additions was third our million, and we as on continued to growth was was QX customer customer average revenue dollar-based to strategy.Our for continue Our execute retention driven $XX.X solid and revenue with year-over-year. XX% per in Growth by cross-sell XXX%. accelerating growth upsell quarter our the new

$XXX.X significant sequentially.This a dollar-based trend of surpassed up in the our our retention next add-ons base.Annual $XXX We basis to tools to up or result number as reported of operating X,XXX is of to then XX% and improvement significant margin, trough expect quarter installed begin year-over-year. revenue a million recurring increase basis so We net portfolio of adoption full XXX year-over-year within and our points products, within growing million, factors. our up which revenue improvement points we and was

up year-over-year, higher to and margin significant First, to gain scale up margin, improvement leverage continued ability from continued was Gross our from benefit platform. and XX.X%. points basis we our in gross revenue reported to which XXX

we acquisition strong to efficiencies, We drive near decision expect and and profitability. in manage our on in carefully growth products company, believe current slow spend, continue growing results.We commitment One which to demand manage XX% near is operations execute income the where cash the sufficiently delivering to the our outperformance by while the to short-term maintain staffed QX our quarter. net our of the high execute made on end plan the and are the that third our to and sheet. we XX% lowering $XXX.X guidance flow-through to our We expenses will million, the gross for saw income million range. paid for we relative some impressive The was of cost. guidance that expenses expenses the of base we continue total carefully income term.We brand in the during our new $X.X spend of the quarter context, operating quarter marketing, to above this non-GAAP paid our customer benefited result organic prioritize up and of happen net expected non-GAAP also manage income Within our cash performance.Turning investments a our headcount to strong from the with ended deliver on to of our balance the $XXX.X million, of is was our surpassing occur strategy, expect previous across we originally strategic margin equivalents positive fourth the statement, towards and now example we continue strategic that also term.Second, across the to of drive timing business. and priorities down income in sustained from And quarter.Moving subscribers, operating subscriber

at of strong Our the in the in underlying business cash positive in flow the quarter trends continue fourth to third operations team $X.X capabilities and million.Looking confident and profitability. I'm was the our from deliver to the quarter, path on growth

and the $X tax timing offsetting some strong but the million. timing This we into fourth also we the the range to had reflects $XXX now in $XX.X of million.We are of of the guidance operating line guidance previous quarter, delivered meaningfully compared updating third our including million we our to to expect expenses improved million. for of provision in million We takes million our in QX, million, a efficiency. $XXX to to range previous expect raising net top the of also million are in fourth quarter.For our few factors, guidance $XX.X to range the range $XX $XXX range non-GAAP We a originally income the our million profit $XXX to million now but quarter income new of planned to of will account expect $X in $X from revenue occur up account net non-GAAP our

fourth million non-GAAP expect of a X.XX. net We quarter guidance $X.X updated $X.X euro assumes income exchange to million.Finally, of our rate

a remain approximately that, reminder, denominated to lines and future Operator, are our questions.Operator, and approach ability take line improved for are drive in a we business you your the will grow drive closing, are opportunities expect any balanced efficiency of value happy please our spending, and up long-term and our committed even As expenses for question. the shareholders.With profitability confident will which growth and invest we growth open open the in to we in questions. scale of we that our XX% to while to euros.In can to disciplined

Brinlea Johnson

you Operator, question. Operator, the please. can take first first question,

Operator

We're difficulty. Please technical experiencing a hold.

Brinlea Johnson

Operator, can you us? hear

Operator

We you. can hear

We will begin Q&A momentarily.

Brinlea Johnson

the ready Hi, for Q&A. Semrush with operator. operator. is morning, Good We're I'm operator. morning. We're team. for team. the ready Q&A. here with This Semrush. here Good Semrush Hi, I'm

Can hear here for you Q&A. We are us? Hello? the

Operator

Please hold.

will momentarily. We Q&A begin

Operator

the going We're Q&A. My apologies starting the now to be delay. for

of first line question Goldman Adam the Your Sachs. comes Hotchkiss with from

Adam Hotchkiss

you to more may you price increase here you just be be guess color churn? could magnitude think to in what impacting you're And without then price willing customers with Any strategy of on the helpful. macro mentioned? customers would meaningfully well impacts terms do the early bit I seeing start, any on little give as updates increases Great. tolerate how on macro, about current a reads the internally this balancing

Eugene Levin

Great question. you. Thank

So haven't earlier, just it really on existing In a as any mentioned underlying user testing customers as impact new metrics. relatively I well cohort as with small cases, seen both customers. of

who willing is But our more. product keep we'll people environment. what delivers you there we've I use pay macro you and about line in this to makes find everything need prudent which us the optimistic said, the with we very our was much pretty do who that very posted. And value timing similar course, be is understand and So expectations, to value in it, to -- think just right and considering moves tremendous like learned future.Of this

Adam Hotchkiss

quarter And just Gen as or seen of quarter that ARR whether search issue AI Gen curious seems It like impact just changes at meaningful, customer ecosystem? macro I if Great. ecosystem any of and you've into anything or in the customers? then lastly, AI isn't broadly, the the you're from would you're helpful. seeing useful? been the any broader macro that's end tackling acceleration, the impacts in given really the behavior AI, you've applications surprised broadly way be in just update how That's would sort just the to in the there on but super around engines on be side, responses And then

Oleg Shchegolev

question. This is Oleg. Take first a

I receive would from see any the of Let's schedule. side, don't don't and we macro, start one pre resizable still is macro with macro. say macro same. kind see Look, We

So it futures probably next We we are the to the so on. revenue better our same the traffic. accelerate our plan with high to good we with our -- this macro with strategy year, current with or even -- projects we adjustment continue we same our what features our delivered I new and all and demand, to based see it.At growth, on a and we expected, we portion of plan of all see future environment time, years, very will environment. our we And products our plan, good able about were year we customers, positive new think for interest product price we see

So is good And products. things, Eugene? our all for still potential a to AI very related

Eugene Levin

Yes.

we're innings -- the mature technology. to when at I for with So becomes more -- of it think early asking thank think AI, this you -- But I we game. still it point, in comes

of example, and social seeing see feature traction, can.This so quarter as no and product things generating And tailwind for customers like like post, specifically across there demand was core seeing we things see right adoption review a seeing several book understand well great class users, we think better -- view usage I things this come we're those in everywhere engagement features. new very for really AI-powered we're works even from portfolio. of areas replying and to we implementing product as us much our exception, in without are as our it it where product. in where general, strong local now reply-to a to reviews cases for now, we ring, our media post AI, like are point of we view great of high start use from So point how And lot as generation use or

Operator

question next Stanley. Morgan Porter Our is line the with of Elizabeth

Chris Cantera

mentioned want such products Elizabeth monetization users, recently. for latest This those know I have Cantera is Chris power as conversions and some on I how Porter. the been get the free thoughts free-to-pay of more ask you to your of use, social trending that and media. on your all

that stands it would get to an now. be where So kind of great update on

Brian Mulroy

Yes, question. for the sure. Thanks

a to things yes, So just of on get up speed to everybody for users. couple

and really with user on grows But to to that a at we it First strategies we're see of that we're free continues all, it meaningful grow have executing base. our rate. pleased multiple

it's in that. on as best we marketing And we'll So grow a customer marketers on at see the free-to-paid, training thing of trial evolution or the really rates. we growth the monetize benefit in very convert to have we're put is our continue times, beginning foremost, to use workforce see the continued ability to them to or our have the Semrush in we just they as base, market see version a something and leverage customers. generation that have standard the version can that's to version been adoption when of pleased do to that.The strong. to and of And we're value currently have consistent. to customers we a to where that our -- customer first platform conversion and been pleased and category offer and to see. and those work. a look to that journey we products We're their focused get don't a their see workflow from currently but it, into quick our It's as But of a free of universities, business.It's Semrush defector that the platform have second and basis careers, And be third it paying means from when enabling and means platform finally, their and the educated for provides tests begin number and for case, a free their use able to value the next in power we're third that core monetized tool a our they're the and enter don't platform we they a

Chris Cantera

ask believe which Got early a your product, is the access of are I enterprise to how right. it. lift And there an now, then like? beta I ARR around I looking of also this have could if customer that some early product conversations And much wanted What per customer?

Eugene Levin

Thank you for the question.

feedback, So yesterday, we you find launched of a customers. had actually indeed, per already cohort customers including have for feedback, days, our average days, post high. quite are early But Linkedin early that just providing while. very it They're yourself. customer and for it general, several we comes those to is can in initial we some still positive relationships revenue beta that But when

I level now enterprise but we we to our to switching think per early, now. seeing strong. subscription segment demand anything, enterprise X, actually era right users is very but on are customer average, still there more basic product.So as and for from is really traction ability with XX the start improvement more definitely this customers, more potential about pleased our in If onboard their it's really times happy

Brian Mulroy

But we're perspective, to we just modeling our capitalize a positioned well competitive average, we per first the see it.From see today, really that to and generate though, upwards. a to thing to means perspective. average strong exceeded ARR as in one modeling and meaningful provides with ARR our of our just as there. And foremost, will customer expect XXx capabilities that, incredible average inflect on we're accounts it ARPU opportunity, Just on add a pleased market, and per average and and XXx enterprise And enterprise of to meaningfully enterprise opportunity strength moat an growth terms and X,XXX, to expand for our us a to customer. addressable from

benefits how We're available forward So product insights a you that is the great the future. looking more it's giving to for into and us now opportunity in us. pleased generally

Operator

Your of Berg Company. the from Needham with comes next question line & Scott

Robert Morelli

on This for is Morelli Rob Berg. Scott

quarter? were solid this a jump. price that And of the detail note? have impact well? there for increase what bookings you to led have the factors You any as may did ARR you noticed larger Can Any then

Brian Mulroy

we're see really Yes, to that. pleased

million $XX a new lower of relative in third achieved actually the historically top And quarter, we actually, in for So it's net seasonally a to for us. record any this quarter which has That's ARR us quarter, the X. quarter. been

and we're net let's really good have related that our of So grow with also demand continue new an us number in upsell roughly the but is of to getting gaining scale all strategy. of on making on see we're continuing to did pleased progress and to in by progress. customers to strong and Oleg pricing, pillars making growth progress our cross-sell macro it. current and as portfolio.Pricing our really We're see, interest spite to say, said, XX% And impact,

So quarter. at it's to to this see, of we're up combination record that we've really least things, and quarter put of pleased for number a been third a able a

Robert Morelli

from it. SMB? about how how regions just Got an sizes That's note regarding customer to geos fared very to enterprise standpoint, then anything And overall certain and helpful. business

Eugene Levin

board. revenue stable example, per One quarter, was highlight grew It user across bit general, anomalies. that haven't thing pretty quarter the is, any in very segment I faster for a segment. would seen and But in mid-market little stable Enterprise

trends. historical When with comes segment line to in much geo questions. it pretty other So and

Operator

the comes KeyBanc Your of Michael Markets. from next Turits Capital question of line

Michael Vidovic

for Michael Turits. is on Vidovic This Michael

believe, about, causing customer optimization. budgets from in uptick a last I macro churn talked quarter, you tighter Just slight had

if last that's at changed worse Just all curious the X gotten in or months here?

Oleg Shchegolev

change any here. No kind us. It's of pretty changes. don't we This what's Oleg. say stable, is would see I showing

Michael Vidovic

it, that yet? guys you early paid still just Are follow-up. uptick see in AI Or real or a And you offerings? free too to is I'll a from to then new Okay. Great. seeing it just any, call generate tailwind from for conversion

Eugene Levin

to saying, phase early own with because Brian actually we're launched can growth where for product. offerings, go combining of our just that like strategies traffic of organic technically AI check product. to was our champagne a drinking of we're say and a demand some right with growth in our Very scaling now, seeing and organic we're for premium from AI some And we've lot Semrush offering, Rephraser you amount example, getting of generation Generative

we drives So of we is offerings most start now, revenue. certain level, a both as scale higher that's traffic of where generate to more are that our level on as course, volume efforts think for focusing of there But focusing improvement, we well will AI-based conversion. conversion. we in already But traffic we room still for of as more those

Operator

Your comes next Wayne from Sandler. of with question Piper Tran the line

Wayne Tran

This Jefferies. XXXX, think kind we Would next is already. on are head you G&A sorry, that ahead about or within S&M Clarke about year? more OpEx? into as Wayne on gross model and G&A How of and for be -- margin leverage should margins R&D Wondering target we of the guys into

Brian Mulroy

profitability. continue thanks year do continue give it and allocating been than make we've which and and gain achieve gaining our we journey really profitability. Wayne, we're earlier decisions and that we're to year and make efficiencies expect fourth and spend really on our pleased -- for that today We've this report everybody going on next able we board. to into to able margin, how But efficiencies question. the and that analyzing Yes, strong good gross we'll will it we're metrics strong been into 'XX. expected, data FY and I earnings when been across about to We've capital earlier focused to progress quarter the able we'll we're update guidance. committed path really on with to really mentioned that relentlessly

Wayne Tran

and about Okay. uplift? far realize potential Great. penetration think the we Maybe potential what's customers? the And price so existing how to should

Eugene Levin

a So for existing room question. there guiding We The there things timing this, is yet, But improvement. we're there pricing how a course, room to is like definitely of need doubt yes, when from perception if for to room no is but a question it elasticity about definitely especially be to like not the cautious price anything improve if comes of view, for customers, there's point is, is works. market improvement.

Operator

Jefferies. of with Brent final comes from Our line question Thill the

James Heaney

early, focused it's into how areas how plays growth you're just next AppCenter, we year? know And James It's for on your should about talk think you most about that for but and of Brent. I can some on strategy the XXXX? the for growth that

Brian Mulroy

Sure. Yes.

vectors. mentioned growth of Eugene -- earlier sort today So our for our just about

So growing our in business continuing FY and out to There the on that first we're owners continue we'll customers. benefit marketers that. new from portfolio. journey into exceeding and diversify 'XX.We very on continue paying small that platform, will also innings and customers, and early We're to we're of focus millions our but foremost, there are XXX,XXX

engine search core diversified in portfolio local, businesses. strides invested we've media, intelligence and we've years, PR making many our into those get optimization, new and good some for we've now social to Digital So in been and

already users. with our our strategy upsell And what we've in to growing on our able to we'll execute new reach talented out invest of and a to continue portfolio. existing with we extend core the provide continue got companies and to our were we'll there adjacencies -- there So lot partner We'll to to in of close successful and market. cross-sell continue R&D team out really continue strong to to

those a obtain into that combination us it's to future. continue factors growth will drive to and of the all allow So growth durable

James Heaney

for... Great. one And then

Eugene Levin

Then just on...

James Heaney

ahead. I'm sorry. Go

Eugene Levin

Yes. Sorry.

social Really that and this who We really of don't And ask products. report of media multiple I even faster. all, about, so about metric monetization, AppCenter, necessarily with asked current AppCenter. a of usage, You've always people with people quarter, excited buy trends. happy metric especially our about when multiproduct first every grows like tool but number of launch kind

share seeing, happy really overall, in more we're So we'll and the future. with what

James Heaney

Great. you material have or could Or no clarification anywhere by is be that, impacted adjacent conflict? Do to to region the there quick Israel exposure question. the just one real impact? that any then just And

Oleg Shchegolev

No material impact. Zero impact on us.

Brian Mulroy

employees and Yes. our of what's happening there. we seen business impact, an as don't perspective, people, I course, on mean, employees from customers. and and see operations a there, to But or we're sad haven't tremendous we have impact

Operator

management call the back to remarks. closing are will further there As for no turn I questions,

Oleg Shchegolev

Thank questions. you for

you delivered us a in first And a set revenue best I remind day. your we we for We In Have in good Thank and sorry closing, XXXX. believe have productivity stage -- for not are improvements accelerated we added everyone, quarter third want growth for $XX very ARR acceleration quarter, give believe to ARR. troubles. strong to our million support. good

Operator

for thank patience your today. and joining you and for Ladies we gentlemen,

disconnect now may your You lines.

Semrush (SEMR) 2 Nov 232023 Q3 Earnings call transcript