Similarweb Ltd Financials
Similarweb Ltd (SMWB) reported $282.6M in revenue for fiscal year 2025, up 13.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Similarweb’s software-like gross margins and very light reinvestment needs let cash turn positive before reported earnings do.
The important shift is cash conversion: operating cash flow turned positive in FY2024 and stayed positive in FY2025, even though net income remained negative both years and EBITDA slipped back below zero. That gap points to a low-capital-intensity model with cash earnings quality better than reported profit suggests, because free cash flow stayed positive at$13.2M while capex was only$1.5M .
With gross margin holding near
The tradeoff is in the balance sheet: liquidity remains below 1.0x despite positive free cash flow, so the company has less short-term cushion than a simple growth story implies. Cash reserves of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Similarweb Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Similarweb Ltd has an operating margin of -8.3%, meaning the company loses $8 on every $100 of revenue. This results in a profitability score of 30/100. This is down from -3.9% the prior year.
Similarweb Ltd's revenue grew 13.1% year-over-year to $282.6M, a solid pace of expansion. This earns a growth score of 73/100.
Similarweb Ltd has elevated debt relative to equity (D/E of 10.20), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 5/100, reflecting increased financial risk.
Similarweb Ltd's current ratio of 0.76 is below the typical benchmark, resulting in a score of 11/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Similarweb Ltd has a free cash flow margin of 4.7%, earning a moderate score of 49/100. The company generates positive cash flow after capital investments, but with room for improvement.
Similarweb Ltd posts a -141.2% return on equity (ROE), meaning it loses $141 for every $100 of shareholders' equity. This results in a returns score of 21/100. This is down from -41.6% the prior year.
Similarweb Ltd scores 0.44, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($793.4M) relative to total liabilities ($237.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Similarweb Ltd passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Similarweb Ltd reported a net loss of $32.9M while generating $14.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Similarweb Ltd generated $282.6M in revenue in fiscal year 2025. This represents an increase of 13.1% from the prior year.
Similarweb Ltd's EBITDA was -$14.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1786.9% from the prior year.
Similarweb Ltd reported -$32.9M in net income in fiscal year 2025. This represents a decrease of 187.5% from the prior year.
Similarweb Ltd earned -$0.39 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 178.6% from the prior year.
Cash & Balance Sheet
Similarweb Ltd generated $13.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 54.2% from the prior year.
Similarweb Ltd held $72.4M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Similarweb Ltd's gross margin was 79.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.5 percentage points from the prior year.
Similarweb Ltd's operating margin was -8.3% in fiscal year 2025, reflecting core business profitability. This is down 4.5 percentage points from the prior year.
Similarweb Ltd's net profit margin was -11.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.1 percentage points from the prior year.
Similarweb Ltd's ROE was -141.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 99.5 percentage points from the prior year.
Capital Allocation
Similarweb Ltd invested $72.6M in research and development in fiscal year 2025. This represents an increase of 30.6% from the prior year.
Similarweb Ltd invested $1.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 4.2% from the prior year.
Not reported for fiscal year 2025.
SMWB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Revenue | $282.6M+13.1% | $249.9M+14.6% | $218.0M+12.8% | $193.2M+40.4% | $137.7M+47.3% | $93.5M+32.4% | $70.6M |
| Cost of Revenue | $57.8M+5.5% | $54.8M+16.4% | $47.1M-11.6% | $53.3M+67.8% | $31.8M+48.3% | $21.4M+4.4% | $20.5M |
| Gross Profit | $224.8M+15.2% | $195.1M+14.1% | $170.9M+22.1% | $140.0M+32.1% | $105.9M+47.0% | $72.1M+43.9% | $50.1M |
| R&D Expenses | $72.6M+30.6% | $55.6M-1.0% | $56.2M-6.3% | $59.9M+35.0% | $44.4M+100.9% | $22.1M+36.2% | $16.2M |
| SG&A Expenses | $52.1M+19.2% | $43.7M+3.1% | $42.4M-6.4% | $45.3M+34.0% | $33.8M+111.7% | $16.0M+44.6% | $11.0M |
| Operating Income | -$23.6M-143.8% | -$9.7M+66.5% | -$28.8M+67.2% | -$87.9M-32.9% | -$66.1M-236.0% | -$19.7M-22.1% | -$16.1M |
| Interest Expense | N/A | N/A | N/A | N/A | $1.9M+12.4% | $1.7M+47.9% | $1.1M |
| Income Tax | $4.2M+116.0% | $1.9M+27.9% | $1.5M+192.1% | $516K-47.4% | $981K+53.3% | $640K+39.7% | $458K |
| Net Income | -$32.9M-187.5% | -$11.5M+61.0% | -$29.4M+64.9% | -$83.7M-21.3% | -$69.0M-213.6% | -$22.0M-24.2% | -$17.7M |
| EPS (Diluted) | -$0.39-178.6% | -$0.14+63.2% | -$0.38+65.5% | -$1.10+15.4% | -$1.30 | -$1.58-19.7% | -$1.32 |
SMWB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Total Assets | $261.1M+7.5% | $242.9M+1.6% | $239.0M-2.9% | $246.0M+8.4% | $227.0M+119.0% | $103.6M | N/A |
| Current Assets | $150.3M+6.4% | $141.4M-3.4% | $146.4M+3.0% | $142.2M-24.2% | $187.7M+112.7% | $88.2M | N/A |
| Cash & Equivalents | $72.4M+13.4% | $63.9M-11.0% | $71.7M-7.8% | $77.8M-39.6% | $128.9M+438.3% | $23.9M+240.4% | $7.0M |
| Accounts Receivable | $54.1M+6.1% | $51.0M+6.5% | $47.9M+25.5% | $38.1M+23.0% | $31.0M+22.8% | $25.3M | N/A |
| Goodwill | $38.8M+53.6% | $25.3M+96.4% | $12.9M0.0% | $12.9M+13.7% | $11.3M+294.6% | $2.9M | N/A |
| Total Liabilities | $237.8M+10.4% | $215.4M-3.6% | $223.5M-0.3% | $224.1M+57.7% | $142.1M-42.9% | $248.7M | N/A |
| Current Liabilities | $196.6M+10.9% | $177.2M-3.8% | $184.2M+1.8% | $180.9M+34.9% | $134.1M+23.8% | $108.4M | N/A |
| Total Equity | $23.3M-15.2% | $27.5M+76.9% | $15.5M-29.2% | $22.0M-74.1% | $84.9M+158.5% | -$145.1M-12.2% | -$129.2M |
| Retained Earnings | -$397.5M-9.0% | -$364.6M-3.2% | -$353.1M-9.1% | -$323.7M-34.8% | -$240.1M-40.3% | -$171.1M | N/A |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
SMWB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $14.6M-51.5% | $30.2M+1093.2% | -$3.0M+93.4% | -$46.1M-66.8% | -$27.6M-634.7% | -$3.8M+61.2% | -$9.7M |
| Capital Expenditures | $1.5M+4.2% | $1.4M-8.3% | $1.6M-94.5% | $28.3M+1122.7% | $2.3M+209.0% | $748K+163.4% | $284K |
| Free Cash Flow | $13.2M-54.2% | $28.7M+725.3% | -$4.6M+93.8% | -$74.3M-148.3% | -$29.9M-564.1% | -$4.5M+54.8% | -$10.0M |
| Investing Cash Flow | -$13.2M+29.3% | -$18.7M-623.1% | -$2.6M+92.2% | -$33.0M-548.5% | $7.4M+123.9% | -$30.8M-6521.7% | $479K |
| Financing Cash Flow | $6.9M+136.7% | -$18.8M-1680.3% | $1.2M-95.9% | $29.1M-76.8% | $125.2M+144.5% | $51.2M+393.1% | $10.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SMWB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 79.5%+1.5pp | 78.1%-0.3pp | 78.4%+6.0pp | 72.4%-4.5pp | 76.9%-0.2pp | 77.1%+6.2pp | 70.9% |
| Operating Margin | -8.3%-4.5pp | -3.9%+9.3pp | -13.2%+32.3pp | -45.5%+2.6pp | -48.0%-27.0pp | -21.0%+1.8pp | -22.8% |
| Net Margin | -11.7%-7.1pp | -4.6%+8.9pp | -13.5%+29.8pp | -43.3%+6.8pp | -50.1%-26.6pp | -23.5%+1.6pp | -25.1% |
| Return on Equity | -141.2%-99.5pp | -41.6%+147.3pp | -188.9%+192.2pp | -381.1%-299.9pp | -81.2% | N/A | N/A |
| Return on Assets | -12.6%-7.9pp | -4.7%+7.6pp | -12.3%+21.7pp | -34.0%-3.6pp | -30.4%-9.2pp | -21.2% | N/A |
| Current Ratio | 0.760.0x | 0.800.0x | 0.790.0x | 0.79-0.6x | 1.40+0.6x | 0.81 | N/A |
| Debt-to-Equity | 10.20+2.4x | 7.83-6.5x | 14.37+4.2x | 10.21+8.5x | 1.67 | N/A | N/A |
| FCF Margin | 4.7%-6.9pp | 11.5%+13.6pp | -2.1%+36.4pp | -38.5%-16.7pp | -21.8%-16.9pp | -4.8%+9.3pp | -14.1% |
Note: The current ratio is below 1.0 (0.76), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Similarweb Ltd Ranks
Frequently Asked Questions
What is Similarweb Ltd's annual revenue?
Similarweb Ltd (SMWB) reported $282.6M in total revenue for fiscal year 2025. This represents a 13.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Similarweb Ltd's revenue growing?
Similarweb Ltd (SMWB) revenue grew by 13.1% year-over-year, from $249.9M to $282.6M in fiscal year 2025.
Is Similarweb Ltd profitable?
No, Similarweb Ltd (SMWB) reported a net income of -$32.9M in fiscal year 2025, with a net profit margin of -11.7%.
What is Similarweb Ltd's EBITDA?
Similarweb Ltd (SMWB) had EBITDA of -$14.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Similarweb Ltd's gross margin?
Similarweb Ltd (SMWB) had a gross margin of 79.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Similarweb Ltd's operating margin?
Similarweb Ltd (SMWB) had an operating margin of -8.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Similarweb Ltd's net profit margin?
Similarweb Ltd (SMWB) had a net profit margin of -11.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Similarweb Ltd's return on equity (ROE)?
Similarweb Ltd (SMWB) has a return on equity of -141.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Similarweb Ltd's free cash flow?
Similarweb Ltd (SMWB) generated $13.2M in free cash flow during fiscal year 2025. This represents a -54.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Similarweb Ltd's operating cash flow?
Similarweb Ltd (SMWB) generated $14.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Similarweb Ltd's total assets?
Similarweb Ltd (SMWB) had $261.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Similarweb Ltd's capital expenditures?
Similarweb Ltd (SMWB) invested $1.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Similarweb Ltd spend on research and development?
Similarweb Ltd (SMWB) invested $72.6M in research and development during fiscal year 2025.
What is Similarweb Ltd's current ratio?
Similarweb Ltd (SMWB) had a current ratio of 0.76 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Similarweb Ltd's debt-to-equity ratio?
Similarweb Ltd (SMWB) had a debt-to-equity ratio of 10.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Similarweb Ltd's return on assets (ROA)?
Similarweb Ltd (SMWB) had a return on assets of -12.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Similarweb Ltd's Altman Z-Score?
Similarweb Ltd (SMWB) has an Altman Z-Score of 0.44, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Similarweb Ltd's Piotroski F-Score?
Similarweb Ltd (SMWB) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Similarweb Ltd's earnings high quality?
Similarweb Ltd (SMWB) reported a net loss of $32.9M while generating $14.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Similarweb Ltd?
Similarweb Ltd (SMWB) scores 32 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.