Latest news with #BillWagner
Yahoo
a day ago
- Business
- Yahoo
SEMR Q1 Earnings Call: Enterprise and AI Products Lead Growth, Profitability Misses Expectations
Marketing analytics software Semrush (NYSE:SEMR) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 22.4% year on year to $105 million. The company expects next quarter's revenue to be around $108.7 million, close to analysts' estimates. Its non-GAAP profit of $0.02 per share was 74.9% below analysts' consensus estimates. Is now the time to buy SEMR? Find out in our full research report (it's free). Revenue: $105 million vs analyst estimates of $104.1 million (22.4% year-on-year growth, 0.9% beat) Adjusted EPS: $0.02 vs analyst expectations of $0.07 (74.9% miss) The company reconfirmed its revenue guidance for the full year of $450.5 million at the midpoint Operating Margin: -0.1%, down from 1.7% in the same quarter last year Customers: 118,000, up from 117,000 in the previous quarter Net Revenue Retention Rate: 106%, in line with the previous quarter Market Capitalization: $1.51 billion Semrush's first quarter results reflected a pivotal phase for the company, as management attributed revenue growth primarily to expanding adoption of its Enterprise SEO Solution and a focus on higher-value customers. CEO Bill Wagner pointed to the strong performance of Semrush's enterprise offerings, noting nearly 200 paying enterprise customers with average annual recurring revenue (ARR) per customer exceeding previous expectations. Wagner also highlighted early success with the company's new AI Toolkit, which he described as one of Semrush's fastest-growing products. CFO Brian Mulroy emphasized that this performance was driven by both increased average revenue per customer and continued customer base growth, supported by cross-sell and up-sell strategies. Management acknowledged intentional shifts toward larger, higher-quality accounts, stating this was expected to result in different seasonal trends compared to prior years. Looking ahead, Semrush's outlook is anchored by management's conviction that AI-driven search and enterprise solutions will be major growth drivers in the coming quarters. Wagner described AI as a 'once-in-a-generation opportunity' and outlined plans to double down on AI product innovation, including the upcoming launch of its AI Optimization product for enterprise customers. He stated, 'We expect Semrush will become the go-to source companies will turn to, to analyze, monitor and proactively shape their brand presence within these new AI-driven search environments.' Mulroy reaffirmed the company's commitment to expanding its enterprise product suite and noted that new solutions, along with enhancements to customer onboarding and data capabilities, are expected to improve adoption and retention. Management cautioned, however, that ongoing macroeconomic and geopolitical uncertainties could lead to elongated sales cycles and deferred customer spending, which are reflected in the company's reiterated guidance. Semrush's first quarter performance was propelled by enterprise customer momentum, rapid uptake of new AI products, and ongoing initiatives to streamline user onboarding and product accessibility. Enterprise Segment Expansion: Management credited the strong quarter to higher adoption of the Enterprise SEO Solution, with nearly 200 enterprise customers and average ARR per enterprise account around $60,000, surpassing initial targets. The company views the enterprise market as a significant long-term growth driver. AI Product Traction: The introduction of the AI Toolkit, targeting smaller businesses and freelancers, was identified as one of the fastest-growing product launches in the company's history. Management cited over $4 million in ARR from AI products within a short timeframe and emphasized the potential of AI Optimization, now in open beta for enterprise customers. Shift Toward Higher-Value Customers: CFO Brian Mulroy explained that Semrush intentionally shifted focus toward attracting and retaining larger, higher-value customers, particularly in the enterprise segment, resulting in changes to seasonal sales patterns and a higher average revenue per customer. Enhanced Data Platform: CEO Wagner underlined the strategic value of Semrush's data platform, which he described as a 'data warehouse for digital marketing' capable of turning fragmented signals across digital channels into actionable insights. This data advantage is seen as a core differentiator and an enabler for future AI-driven solutions. Product Accessibility Initiatives: Wagner detailed efforts to reduce friction for customers, including the rollout of new onboarding flows and the forthcoming AI Assistant. These initiatives are designed to accelerate value delivery, especially for small and midsize businesses, and are part of a broader strategy to make digital marketing tools more accessible to all customer segments. Semrush's forward guidance is shaped by anticipated growth from new AI-driven products, deeper enterprise penetration, and ongoing investments in its data platform and onboarding experience. AI Product Expansion: Management believes that continued investment in AI-enabled solutions—including the upcoming launch of AI Optimization for enterprises—will support both revenue growth and higher average deal sizes. Wagner suggested that the combination of core SEO and AI products will be additive, rather than cannibalistic, to overall customer spend. Enterprise Momentum and Upsell: The company expects its enterprise segment to be the primary growth engine, with further cross-sell and up-sell opportunities. Mulroy highlighted a growing pipeline of enterprise accounts and projected that average ARR per enterprise customer could eventually exceed $100,000 as additional solutions are adopted. Macro and Currency Headwinds: Management acknowledged that macroeconomic challenges and currency fluctuations, particularly related to the euro, could create headwinds to margin expansion despite strong operating leverage and cost discipline. These risks are factored into the company's reaffirmed guidance for margins and cash flow. In the coming quarters, we will watch for (1) continued growth in enterprise customer adoption and expansion of the AI product suite, (2) measurable improvements in onboarding efficiency and customer retention, and (3) the impact of macroeconomic and currency headwinds on margin progression. Progress on these fronts will be key markers of Semrush's ability to execute its strategy and sustain profitable growth. Semrush currently trades at a forward price-to-sales ratio of 3.3×. At this valuation, is it a buy or sell post earnings? Find out in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Yahoo
02-06-2025
- Business
- Yahoo
Kiolbassa Smoked Meats Announces Executive Leadership Transitions to Support Future Growth
Michael Johnson named President effective July 1, 2025; Bill Wagner appointed Executive Vice-Chairman; Jerry Carnes joins Senior Team SAN ANTONIO, June 2, 2025 /PRNewswire/ -- Kiolbassa Smoked Meats, the San Antonio-based smoked sausage company known for its premium products and purpose-driven culture, today announced a strategic leadership transition effective July 1, 2025, marking the beginning of its FY26. Michael Johnson has been named President of the company, while current President Bill Wagner will transition into the newly created role of Executive Vice-Chairman. In addition, Vice President of Sales Jerry Carnes will assume expanded management responsibilities and join the company's Senior Team. The succession plan was created by Michael Kiolbassa and unanimously approved by the company's Board of Directors and Advisory Board in the latest board meeting. "Michael Johnson is a remarkable leader whose deep understanding of our business, operational excellence, and values-driven leadership make him the ideal person to guide us into our next chapter," said Michael Kiolbassa, CEO and Chairman of the Board. "He has grown alongside this company—from summer intern to executive leader—and has earned the full confidence of our board, our team, and our family." Johnson joined Kiolbassa Smoked Meats full-time after earning his MBA from Texas Tech University and has held numerous leadership roles over his 18-year tenure, including Director of Marketing, Senior Vice President of Organizational Development & Finance, and most recently, Chief Revenue and Marketing Officer. He played a key role in integrating Values-Based Leadership and the Great Game of Business into the company culture. Johnson has had a major role in the company's implementation of Lean Manufacturing Principles throughout the organization, and he co-developed the company's strategic business pillars in 2022 which have guided the company's growth for the past three years. "I'm incredibly honored and thankful for the opportunity to serve as President of Kiolbassa Provision Company. This company has played a major role in my life over the past two decades, and I'm grateful for the trust placed in me. I'm committed to carrying forward our legacy of integrity, quality, and care for our people as we continue building a business that makes a meaningful difference in the lives of others," said Johnson. Current President Bill Wagner, who has led the company since July 2022 as its first non-family president, will transition to Executive Vice-Chairman. In this role, he will serve as a strategic advisor to the Senior Team, with a special focus on mentoring the Finance department and supporting long-term planning as a member of the Board of Directors. "Bill's steady leadership and commitment to building a lasting legacy for our family business have been invaluable," said Kiolbassa. "He has accomplished more than we imagined possible in just a few years, and his continued presence will be instrumental as we move forward." The company also announced that Jerry Carnes, Vice President of Sales, will assume expanded responsibilities in managing the sales function and will join the Senior Team. This change reflects Kiolbassa's continued investment in leadership development and the importance of a strong, aligned sales strategy. "I'm excited for what the future holds with Michael Johnson at the helm, supported by a deeply talented leadership team," said Kiolbassa. "With strong leaders all aligned, I'm confident in our continued growth and ability to enrich lives across the communities we serve." About Kiolbassa Smoked MeatsFounded in 1949 by Rufus and Juanita Kiolbassa on the west side of San Antonio, Kiolbassa Smoked Meats has grown from a local meat company into a nationally distributed brand known for its handcrafted, slow-smoked sausages made with premium cuts of meat. The company remains family-owned and committed to enriching lives through honest food, meaningful service, and purpose-led leadership. View original content to download multimedia: SOURCE Kiolbassa Provision Co. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
02-06-2025
- Business
- Business Wire
CareTrust REIT Positions for Continued Growth with New $500 Million Term Loan and New Hires
SAN CLEMENTE, Calif.--(BUSINESS WIRE)--CareTrust REIT, Inc. (NYSE:CTRE) ('CareTrust') announced today the closing of a new senior unsecured term loan and the hiring of two talented real estate professionals. These actions further bolster its growth platform and strengthen the Company's long-term prospects at a time of accelerating investment in its healthcare portfolio. The Company closed on an amendment to its existing credit agreement with KeyBank National Association and a syndicate of leading financial institutions to add a new $500 million unsecured term loan (the 'Term Loan') to its existing $1.2 billion unsecured revolving credit facility. The Company currently expects to use borrowings under the Term Loan to pay off the revolver balance of approximately $475 million, to fund acquisitions and for general corporate purposes. The Term Loan initially matures in May 2030, with an uncommitted accordion feature allowing for up to $800 million in additional borrowing capacity. 'This new term loan provides us with additional financial flexibility and a strong capital foundation to support our continued investments in quality healthcare assets and long-term value creation,' said Bill Wagner, CareTrust's Chief Financial Officer. 'We are grateful for the support and confidence of our banking partners and view this financing as a testament to the strength of our platform, our bright prospects, and our disciplined approach to capital allocation. With this amended facility, CareTrust is well-positioned to continue adding high-quality post-acute and seniors housing assets while maintaining its strong balance sheet.' New Team Additions The Company also announced the hiring of Roger Laty, who joins CareTrust as SVP of Tax, and Derek Bunker, who joins as SVP of Strategy and Investor Relations. Mr. Laty brings over 30 years of tax leadership experience in the real estate industry, with deep expertise in real estate investment trusts and joint ventures. Most recently, he served for 12 years as Vice President - Tax at UDR, Inc., where he oversaw all aspects of tax compliance, planning, and transaction structuring. His prior roles include senior tax leadership positions at various real estate firms and early career experience at Ernst & Young LLP and Kenneth Leventhal & Company. Mr. Bunker brings extensive leadership experience in healthcare services and post-acute real estate. He served as Chief Investment Officer and Executive Vice President of The Pennant Group (NASDAQ: PNTG), where he oversaw strategic growth, real estate, investor relations, and corporate governance. Prior to that, he held key roles at The Ensign Group (NASDAQ: ENSG) and began his career as an attorney with Latham & Watkins LLP. 'We are thrilled to welcome Roger and Derek to the team during a period of critical growth for our organization,' said Dave Sedgwick, CareTrust's President and Chief Executive Officer. 'Their deep expertise and leadership in their respective fields will be invaluable as we continue to add to our growing healthcare portfolio. Roger brings a strong track record in building tax strategies that support long-term value creation, while Derek offers a breadth of experience in corporate strategy development and key stakeholder communication specifically within the post-acute space. Their appointments further strengthen our leadership team and position us for sustained growth in both the US and UK.' About CareTrust™ CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a portfolio of long-term net-leased properties spanning the United States and United Kingdom, and a growing portfolio of quality operators leasing them, CareTrust is pursuing both external and organic growth opportunities across the US and internationally. More information about CareTrust REIT is available at Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company's intent, belief or expectations, including, but not limited to, statements regarding the following: industry and demographic conditions, the investment environment, the Company's investment pipeline, and financing strategy. Words such as 'anticipate,' 'believe,' 'could,' 'expect,' 'estimate,' 'intend,' 'may,' 'plan,' 'seek,' 'should,' 'will,' 'would,' and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements, though not all forward-looking statements contain these identifying words. The Company's forward-looking statements are based on management's current expectations and beliefs, and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although the Company believes that the assumptions underlying these forward-looking statements are reasonable, they are not guarantees and the Company can give no assurance that its expectations will be attained. Factors which could have a material adverse effect on the Company's operations and future prospects or which could cause actual results to differ materially from expectations include, but are not limited to: (i) the ability and willingness of our tenants and borrowers to meet and/or perform their obligations under the agreements we have entered into with them, including, without limitation, their respective obligations to indemnify, defend and hold us harmless from and against various claims, litigation and liabilities; (ii) the risk that we may have to incur additional impairment charges related to our assets held for sale if we are unable to sell such assets at the prices we expect; (iii) the impact of healthcare reform legislation, including minimum staffing level requirements, on the operating results and financial conditions of our tenants and borrowers; (iv) the ability of our tenants and borrowers to comply with applicable laws, rules and regulations in the operation of the properties we lease to them or finance; (v) the intended benefits of our acquisition of Care REIT plc ('Care REIT') may not be realized, and we will be subject to additional risks from our investment in Care REIT and any other international investments; (vi) the ability and willingness of our tenants to renew their leases with us upon their expiration, and the ability to reposition our properties on the same or better terms in the event of nonrenewal or in the event we replace an existing tenant, as well as any obligations, including indemnification obligations, we may incur in connection with the replacement of an existing tenant; (vii) the availability of and the ability to identify (a) tenants who meet our credit and operating standards, (b) suitable acquisition opportunities, and (c) the ability to acquire and lease the respective properties to tenants on favorable terms; (viii) the ability to generate sufficient cash flows to service our outstanding indebtedness; (ix) access to debt and equity capital markets; (x) fluctuating interest and currency rates; (xi) the impact of public health crises, including significant COVID-19 outbreaks as well as other pandemics or epidemics; (xii) the ability to retain our key management personnel; (xiii) risks related to any forward sale agreements entered into in connection with our at-the-market offering program, including our intention to physically settle any forward sale agreement; (xiv) the ability to maintain our status as a real estate investment trust ('REIT'); (xv) changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs; (xvi) other risks inherent in the real estate business, including potential liability relating to environmental matters and illiquidity of real estate investments; and (xvii) any additional factors included in our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, including in the section entitled 'Risk Factors' in Item 1A of such reports, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the Securities and Exchange Commission. Any forward-looking statements made in this press release are made only as of the date hereof. CareTrust assumes no obligation to update any such statements in the future.
Business Wire
07-05-2025
- Business
- Business Wire
Semrush Announces First Quarter 2025 Financial Results
BOSTON--(BUSINESS WIRE)--Semrush Holdings, Inc. (NYSE: SEMR), a leading online visibility management SaaS platform, today reported financial results for the first quarter ended March 31, 2025. 'I am thrilled to be part of the Semrush team as we leverage our best-in-class data platform to seize the emerging marketing opportunity presented by AI and extend our reach into the enterprise market," said Bill Wagner, CEO. "We reported a strong start to the year, delivering first quarter revenue growth of 22% along with strong margins and free cash flow. We are especially pleased by the early traction of our AI products and continued momentum of our Enterprise SEO Solution.' First Quarter 2025 Financial Highlights First quarter revenue of $105.0 million, up 22% year-over-year. Loss from operations of $0.1 million for the first quarter, compared to income from operations of $1.5 million the prior year's quarter. First quarter operating margin of (0.1)%, compared to 1.7% in the prior year period. Non-GAAP income from operations of $12.2 million for the first quarter for a non-GAAP operating margin of 11.6%, compared to non-GAAP income from operations of $9.7 million in the prior year period for a non-GAAP operating margin of 11.3%. Q1 free cash flow of $18.5 million and free cash flow margin of 17.6%. ARR of $424.7 million as of March 31, 2025, up 20% year-over-year. Approximately 118,000 paying customers as of March 31, 2025, up approximately 5.1% from a year ago. Dollar-based net revenue retention of 106%, as of March 31, 2025. See 'Non-GAAP Financial Measures & Definitions of Key Metrics' below for how Semrush defines ARR, dollar-based net revenue retention, non-GAAP income from operations, non-GAAP operating margin, free cash flow, and free cash flow margin, and the financial tables that accompany this release for reconciliations of each non-GAAP financial measure to its closest comparable GAAP financial measure. First Quarter 2025 Business Highlights We remain committed to empowering our customers with a best-in-class platform designed to boost their online presence and gain an edge in the market. We advanced and expanded many of our offerings and continued investments in Generative AI to provide enhanced, more efficient content creation and marketing capabilities through Semrush's platform and App Center: Launched AI Optimization (AIO), now in open beta, a Semrush Enterprise Solution that provides businesses with the tools to track, control, and optimize brand presence across AI-powered search platforms. Released AI Toolkit, a solution that simplifies how businesses assess their visibility in AI-driven search results and guides strategic decisions to improve performance and positioning. Semrush customers who pay more than $10,000 annually grew by 39% year-over-year. Semrush customers who pay over $50,000 increased 86% year-over-year to 388. Ended the quarter with over 1.0 million registered free active customers. 'We reported a strong first quarter - overachieving on our top line growth and profitability, as we executed on our cross-sell and up-sell strategy and continued to expand our average revenue per customer,' said Brian Mulroy, CFO of Semrush. 'We saw increased adoption during the quarter of our Enterprise SEO solution and continued momentum building our enterprise cohort, delivering 86% year-over-year growth in customers paying over $50,000. Non-GAAP operating margin increased to 11.6% and cash flow from operations increased to $22.1 million. Looking ahead, we are confident about our ability to drive growth, profitability, and free cash flow generation, and we are reiterating our previous full year 2025 guidance.' Based on information as of today, May 7, 2025, we are issuing the following financial guidance: Second Quarter 2025 Financial Outlook For the second quarter, we expect revenue in a range of $108.2 million to $109.2 million, which at the mid-point would represent growth of approximately 20% year-over-year. We expect second quarter non-GAAP operating margin to be approximately 11%. Full-Year 2025 Financial Outlook For the full year, we expect revenue in a range of $448.0 to $453.0 million, which at the mid-point would represent growth of approximately 20% year-over-year. We expect full year non-GAAP operating margin to be approximately 12%. We expect the full year free cash flow margin to be approximately 12%. To note, our full year 2025 guidance now absorbs an incremental $8.0 million expense headwind due to the recent movement in exchange rates. Our previous guidance assumed a EURO to USD exchange rate of 1.05 and we are now modeling an exchange rate of 1.13. Reconciliations of non-GAAP operating margin and free cash flow margin guidance to the most directly comparable GAAP measures are not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures, in particular the measures and effects of share-based compensation expense, employer taxes and tax deductions specific to equity compensation awards that are directly impacted by future hiring, turnover and retention needs. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results. Conference Call and Webcast Details Semrush will host a conference call and webcast to discuss its financial results, business highlights, outlook and other matters, the details for which are provided below. Date: Thursday, May 8th, 2025 Time: 8:30 a.m. ET Hosts: Bill Wagner, CEO, and Brian Mulroy, CFO Conference ID: 923956 Participant Toll Free Dial-In Number: +1 833 470 1428 Participant International Dial-In Number: +1 929 526 1599 The live webcast of the conference call as well as the replay can be accessed for a limited time from the Semrush investor relations website at About Semrush Semrush is a leading online visibility management SaaS platform that enables businesses globally to run search engine optimization, advertising, content, social media and competitive research campaigns and get measurable results from online marketing. Semrush offers insights and solutions for companies to build, manage, and measure campaigns across various marketing channels. Semrush is headquartered in Boston and has offices in Austin, Dallas, Amsterdam, Barcelona, Belgrade, Berlin, Munich, Limassol, Prague, Warsaw, and Yerevan. Forward-looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws, which are statements that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as 'may,' 'will,' 'shall,' 'should,' 'expects,' 'plans,' 'positioning,' 'anticipates,' 'could,' 'intends,' 'target,' 'projects,' 'contemplates,' 'believes,' 'estimates,' 'predicts,' 'potential' or 'continue' or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements include, but are not limited to, guidance on financial results for the second quarter and full fiscal year of 2025 (including revenue, non-GAAP operating margin, and free cash flow margin); statements about transition and the impact of recent changes to our executive management team; statements regarding the expectations of demand for our products and cash flow generation; statements about improvements to and expansion of our products and platform, and launching new products; statements about future operating results, including revenue, growth opportunities, variability of expenses, ability to realize efficiencies, future spending and incremental investments, business trends, our ability to deliver profits, and growth and value for shareholders; and assumptions regarding foreign exchange rates. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission ('SEC'), including in the sections entitled 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations'' in our filings with the SEC, including our most recent annual report on form 10-K, and our subsequently filed quarterly reports and other SEC filings. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. The forward-looking statements in this release are based on information available to us as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Additional information regarding these and other factors that could affect our results is included in our SEC filings, which may be obtained by visiting our Investor Relations page on its website at or the SEC's website at Non-GAAP Financial Measures & Definitions of Key Metrics We believe that providing non-GAAP information to investors, in addition to the GAAP presentation, allows investors to view the financial results in the way management views the operating results. We further believe that providing this information allows investors to not only better understand our financial performance, but also to evaluate the efficacy of the methodology and information used by management to evaluate and measure such performance. We also believe that the use of non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors. We also believe free cash flow margin is useful to investors as we monitor it as a measure of our overall business performance, which enables us to analyze our future performance without the effects of non-cash items and allows us to better understand the cash needs of our business. The non-GAAP information included in this press release should not be considered superior to, or a substitute for, financial statements prepared in accordance with GAAP and may be different from non-GAAP financial measures presented by other companies. Investors are encouraged to review the reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures provided in the financial statement tables included below in this press release. Annual Recurring Revenue (ARR) is defined as the total subscription revenue as of a given date that we expect to contractually receive over the subsequent 12 months from customers on an annualized basis, assuming no increases, reductions or cancellations. This ARR definition was updated in our Annual Report on Form 10-K for the period ended December 31, 2024 to simplify the explanation of our calculation around the treatment of monthly and longer-term contracts, and to be more consistent with other SaaS businesses, which we believe improves the ability for investors to compare our metric against other businesses. Additionally, our definition was updated to note that we do not assume there will be any increases, reductions, or cancellations. Given our efforts to retain and win back customers, and our belief that we will be successful in many of those retention efforts, we believe the updated definition is more accurate. We are not recasting ARR results to conform ARR under the prior definition to the updated definition as there is no variance between the two definitions for the periods presented. Dollar-based net revenue retention is defined as (a) the revenue from our customers during the twelve-month period ending one year prior to such period as the denominator and (b) the revenue from those same customers during the twelve months ending as of the end of such period as the numerator. This calculation excludes revenue from new customers and any non-recurring revenue. Free cash flow and free cash flow margin. We define free cash flow, a non-GAAP financial measure, as net cash provided by (used in) operating activities less purchases of property and equipment and capitalized software development costs. We define free cash flow margin as free cash flow divided by GAAP revenue. Non-GAAP income (loss) from operations, and non-GAAP operating margin. We define non-GAAP income (loss) from operations as GAAP income (loss) from operations, excluding Stock Based Compensation, Amortization of Acquired Intangible Assets, Acquisition Related Costs, Restructuring Costs and other one-time expenses outside the ordinary course of business (for example, our Exit Costs incurred primarily in 2022). We define non-GAAP operating margin as non-GAAP income (loss) from operations divided by GAAP revenue. We believe investors may want to consider our results with and without the effects of these items in order to compare our financial performance with that of other companies that exclude such items and to compare our results to prior periods. Stock-based compensation. Stock-based compensation is a non-cash expense accounted for in accordance with FASB ASC Topic 718. We believe that the exclusion of stock-based compensation expense allows for financial results that are more indicative of our operational performance and provide for a useful comparison of our operating results to prior periods and to our peer companies because stock-based compensation expense varies from period to period and company to company due to such things as differing valuation methodologies, timing of awards and changes in stock price. Amortization of acquired intangible assets. Excluding amortization of acquired intangible assets from non-GAAP expense and income measures allows management and investors to evaluate results 'as-if' the acquired intangible assets had been developed internally rather than acquired and, therefore, provides a supplemental measure of performance in which our acquired intellectual property is treated in a comparable manner to our internally developed intellectual property. These amounts are inconsistent in amount and frequency and are significantly impacted by the timing and size of acquisitions. Although we exclude amortization of acquired intangible assets from our non-GAAP expenses, we believe that it is important for investors to understand that such intangible assets contribute to revenue generation. Restructuring and other costs. Restructuring and other costs include restructuring expenses as well as other charges that are unusual in nature, are the result of unplanned events, and arise outside the ordinary course of our business. Restructuring expenses consist of employee severance costs, charges for the closure of excess facilities and other contract termination costs. Other costs include litigation contingency reserves, asset impairment charges, relocation expenses associated with the migration of employees in 2022 that occurred throughout 2022 and early 2023, and gains or losses on the sale or disposition of certain non-strategic assets or product lines. Acquisition-related costs. In recent years, we have completed a number of acquisitions, which result in transition, integration and other acquisition-related expense which would not otherwise have been incurred, are unpredictable and dependent on a significant number of factors that are deal-specific or outside of our control, are not indicative of our operational performance (or that of the acquired businesses or assets) and are likely to fluctuate as our acquisition activity increases or decreases in future periods. By excluding acquisition-related costs and adjustments from our non-GAAP measures, management is better able to evaluate our ability to utilize our existing assets and estimate the long-term value that acquired assets will generate for us. The following table sets forth a reconciliation of our (loss) income from operations and operating margin to non-GAAP income from operations and non-GAAP operating margin, respectively (percentage amounts may not sum due to rounding): The following table sets forth a reconciliation of our net cash provided by operating activities and net cash provided by operating activities (as a percentage of revenue) to free cash flow and free cash flow margin, respectively (percentage amounts may not sum due to rounding): Semrush Holdings, Inc. (in thousands) As of December 31, 2024 Assets Current assets Cash and cash equivalents $ 64,665 $ 48,875 Short-term investments 197,125 186,693 Accounts receivable 11,034 8,955 Deferred contract costs, current portion 10,161 10,044 Prepaid expenses and other current assets 14,461 21,617 Total current assets 297,446 276,184 Property and equipment, net 6,401 6,534 Operating lease right-of-use assets 12,133 11,126 Intangible assets, net 33,007 32,055 Goodwill 57,682 56,139 Deferred contract costs, net of current portion 3,379 3,080 Other long-term assets 6,453 5,825 Total assets $ 416,501 $ 390,943 Liabilities, noncontrolling interest, and stockholders' equity Current liabilities Accounts payable $ 14,218 $ 10,463 Accrued expenses 21,606 20,216 Deferred revenue 79,926 71,827 Current portion of operating lease liabilities 5,202 4,669 Other current liabilities 5,750 6,913 Total current liabilities 126,702 114,088 Deferred revenue, net of current portion 235 235 Deferred tax liability 1,634 1,621 Operating lease liabilities, net of current portion 8,569 7,602 Other long-term liabilities 1,203 1,045 Total liabilities 138,343 124,591 Commitments and contingencies Stockholders' equity Class A common stock 1 1 Class B common stock — — Additional paid-in capital 331,917 322,586 Accumulated other comprehensive loss (311 ) (2,221 ) Accumulated deficit (62,913 ) (63,762 ) Total stockholders' equity attributable to Semrush Holdings, Inc. 268,694 256,604 Noncontrolling interest in consolidated subsidiaries 9,464 9,748 Total stockholders' equity 278,158 266,352 Total liabilities, noncontrolling interest and stockholders' equity $ 416,501 $ 390,943 Expand Semrush Holdings, Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Three Months Ended March 31, 2025 2024 Operating Activities Net income $ 655 $ 2,003 Adjustments to reconcile net income to net cash provided by operating activities Depreciation and amortization expense 3,424 2,183 Amortization of deferred contract costs 3,474 3,016 Amortization (accretion) of premiums and discounts on investments (659 ) (1,071 ) Non-cash lease expense 1,257 1,164 Stock-based compensation expense 9,112 5,115 Change in fair value included in other income, net (1,164 ) — Deferred taxes (55 ) (100 ) Other non-cash items 880 844 Changes in operating assets and liabilities Accounts receivable (2,167 ) 782 Deferred contract costs (3,891 ) (3,455 ) Prepaid expenses and other current assets (379 ) (2,275 ) Accounts payable 3,559 1,012 Accrued expenses 1,632 1,414 Other current liabilities (299 ) (390 ) Deferred revenue 7,873 5,658 Other long-term liabilities 158 — Change in operating lease liability (1,301 ) (1,121 ) Net cash provided by operating activities 22,109 14,779 Investing Activities Purchases of property and equipment (725 ) (759 ) Capitalization of internal-use software costs (2,879 ) (2,015 ) Purchases of short-term investments (27,156 ) (46,706 ) Proceeds from sales and maturities of short-term investments 18,000 25,000 Funding of investment loan receivables — (7,000 ) Proceeds from repayment of investment loan receivables 7,676 — Cash paid for acquisition of assets and businesses, net of cash acquired (512 ) (501 ) Purchase of noncontrolling interest (90 ) — Net cash used in investing activities (5,686 ) (31,981 ) Financing Activities Proceeds from exercise of stock options 365 844 Repayment of acquired debt (611 ) — Payment of finance leases (99 ) (410 ) Net cash (used in) provided by financing activities (345 ) 434 Effect of exchange rate changes on cash and cash equivalents (288 ) (507 ) Increase (decrease) in cash, cash equivalents and restricted cash 15,790 (17,275 ) Cash, cash equivalents and restricted cash, beginning of period 49,060 58,848 Cash, cash equivalents and restricted cash, end of period $ 64,850 $ 41,573 Expand
NBC Sports
10-02-2025
- Sport
- NBC Sports
Sabathia to have Yankees logo on Hall of Fame plaque, Wagner the Astros, Suzuki the Mariners
COOPERSTOWN, N.Y. — CC Sabathia will have a New York Yankees logo on the cap of his Hall of Fame plaque and Bill Wagner will have the symbol of the Houston Astros. The hall announced the decisions for all five of this year's inductees. Ichiro Suzuki will have the cap of the Seattle Mariners, Dave Parker of Pittsburgh Pirates and Dick Allen of the Philadelphia Phillies. Players and their families give input on the choices to the hall, which makes the final decisions. Inductees could make the pick through the 2001 induction, and the hall took over the decision ahead of the 2002 vote. The change followed reports in 1999 that Tampa Bay offered to compensate the newly retired Wade Boggs if his plaque bore a Devil Rays logo. Boggs was inducted in 2005 and his plaque has a Boston Red Sox logo. Sabathia spent the last 11 seasons of a 19-year big league career with the Yankees (2009-19) after pitching for Cleveland (2001-08) and Milwaukee (2008). Suzuki played for the Mariners in 14 of 19 seasons (2001-12, 2018-19) and also for the Yankees (2012-14) and Miami (2015-17). Wagner pitched for Houston for his first nine seasons (1995-2003), then played for Philadelphia (2004-05), the New York Mets (2006-09), Boston (2009) and Atlanta (2010). Parker spent his first 11 seasons with Pittsburgh (1973-83), then played for Cincinnati (1984-87), Oakland (1988-89), Milwaukee (1990), California (1991) and Toronto (1991). Allen played for the Phillies in nine seasons (1963-69, 1975-76) while also spending time with St. Louis (1970), the Los Angeles Dodgers (1971), Chicago White Sox (1972-74) and Oakland (1977). Inductions will take place July 27. Plaques include an image of the person and list of accomplishments in about 90 words, including each team a person played for or managed.
