Similarweb (SMWB) | Financial Analysis & Statements
Similarweb Ltd. Micro-cap Technology
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
72.8M
Gross Profit
57.8M
79.43%
Operating Income
-4.7M
-6.46%
Net Income
-7.5M
-10.30%
EPS (Diluted)
$-0.09
Balance Sheet Metrics
Total Assets
261.1M
Total Liabilities
237.8M
Shareholders Equity
23.3M
Debt to Equity
10.20
Cash Flow Metrics
Operating Cash Flow
4.2M
Free Cash Flow
3.0M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Similarweb Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 282.6M | 249.9M | 218.0M | 193.2M | 137.7M |
| Cost of Goods Sold | 57.8M | 54.8M | 47.1M | 53.3M | 31.8M |
| Gross Profit | 224.8M | 195.1M | 170.9M | 140.0M | 105.9M |
| Gross Margin % | 79.5% | 78.1% | 78.4% | 72.4% | 76.9% |
| Operating Expenses | |||||
| Research & Development | 72.6M | 55.6M | 56.2M | 59.9M | 44.4M |
| Selling, General & Administrative | 175.8M | 149.2M | 143.6M | 167.9M | 127.6M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 248.4M | 204.8M | 199.7M | 227.8M | 172.0M |
| Operating Income | -23.6M | -9.7M | -28.8M | -87.9M | -66.1M |
| Operating Margin % | -8.3% | -3.9% | -13.2% | -45.5% | -48.0% |
| Non-Operating Items | |||||
| Interest Income | - | 134.0K | - | - | - |
| Interest Expense | - | - | - | - | 1.9M |
| Other Non-Operating Income | - | - | - | 290.0K | - |
| Pre-tax Income | -28.8M | -9.5M | -27.9M | -83.1M | -68.0M |
| Income Tax | 4.2M | 1.9M | 1.5M | 516.0K | 981.0K |
| Effective Tax Rate % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Income | -32.9M | -11.5M | -29.4M | -83.7M | -69.0M |
| Net Margin % | -11.7% | -4.6% | -13.5% | -43.3% | -50.1% |
| Key Metrics | |||||
| EBITDA | -14.6M | 864.0K | -18.5M | -77.3M | -62.9M |
| EPS (Basic) | - | $-0.14 | $-0.38 | $-1.10 | $-1.30 |
| EPS (Diluted) | - | $-0.14 | $-0.38 | $-1.10 | $-1.30 |
| Basic Shares Outstanding | - | 80825695 | 77752960 | 75718623 | 53201603 |
| Diluted Shares Outstanding | - | 80825695 | 77752960 | 75718623 | 53201603 |
Income Statement Trend
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Similarweb Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 72.4M | 63.9M | 71.7M | 77.8M | 128.9M |
| Short-term Investments | - | - | - | - | 0 |
| Accounts Receivable | 54.1M | 51.0M | 47.9M | 38.1M | 31.0M |
| Inventory | - | - | - | - | - |
| Other Current Assets | 791.0K | 282.0K | 456.0K | 177.0K | 593.0K |
| Total Current Assets | 150.3M | 141.4M | 146.4M | 142.2M | 187.7M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 34.7M | 34.7M | 36.2M | 41.0M | 228.0K |
| Goodwill | 84.4M | 56.1M | 30.5M | 35.3M | 34.3M |
| Intangible Assets | 6.8M | 5.6M | 4.8M | 9.6M | 11.6M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 8.8M | 10.4M | 10.3M | 8.8M | 10.0M |
| Total Non-Current Assets | 110.8M | 101.6M | 92.6M | 103.9M | 39.3M |
| Total Assets | 261.1M | 242.9M | 239.0M | 246.0M | 227.0M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 13.9M | 12.4M | 8.4M | 7.1M | 11.3M |
| Short-term Debt | 8.8M | 6.9M | 32.1M | 34.1M | - |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | 29.0K | - | 346.0K | - |
| Total Current Liabilities | 196.6M | 177.2M | 184.2M | 180.9M | 134.1M |
| Non-Current Liabilities | |||||
| Long-term Debt | 34.5M | 32.8M | 35.3M | 40.1M | 0 |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 5.6M | 4.2M | 3.1M | 2.1M | 3.3M |
| Total Non-Current Liabilities | 41.3M | 38.2M | 39.3M | 43.2M | 7.9M |
| Total Liabilities | 237.8M | 215.4M | 223.5M | 224.1M | 142.1M |
| Equity | |||||
| Common Stock | 240.0K | 227.0K | 216.0K | 210.0K | 205.0K |
| Retained Earnings | -397.5M | -364.6M | -353.1M | -323.7M | -240.1M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 23.3M | 27.5M | 15.5M | 22.0M | 84.9M |
| Key Metrics | |||||
| Total Debt | 43.3M | 39.7M | 67.4M | 74.2M | 0 |
| Working Capital | -46.2M | -35.8M | -37.8M | -38.8M | 53.5M |
Balance Sheet Composition
Similarweb Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -32.9M | -11.5M | -29.4M | -83.7M | -69.0M |
| Depreciation & Amortization | 9.0M | 10.5M | 10.3M | 10.6M | 3.2M |
| Stock-Based Compensation | 21.2M | 17.6M | 18.1M | 17.0M | 11.2M |
| Working Capital Changes | 18.4M | 12.9M | -3.6M | 9.1M | 27.0M |
| Operating Cash Flow | 15.4M | 30.1M | -3.0M | -45.9M | -27.6M |
| Investing Activities | |||||
| Capital Expenditures | -1.5M | -1.4M | -1.6M | -28.3M | -2.3M |
| Acquisitions | -15.8M | -15.4M | 0 | -3.5M | -9.5M |
| Investment Purchases | - | - | - | - | - |
| Investment Sales | - | - | 0 | 0 | 30.0M |
| Investing Cash Flow | -13.1M | -17.4M | -1.8M | -30.1M | 8.2M |
| Financing Activities | |||||
| Share Repurchases | - | - | - | - | - |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | - | - | - | 0 | 0 |
| Debt Repayment | 0 | - | 0 | 0 | -56.9M |
| Financing Cash Flow | 0 | -25.0M | -2.4M | 25.0M | 67.1M |
| Free Cash Flow | 13.0M | 27.4M | -5.4M | -77.2M | -30.7M |
| Net Change in Cash | 2.4M | -12.3M | -7.1M | -51.0M | 47.7M |
Cash Flow Trend
Similarweb Key Financial Ratios
Valuation Ratios
Forward P/E
10.64
Price to Book
9.66
Price to Sales
0.80
PEG Ratio
10.64
Profitability Ratios
Profit Margin
-11.66%
Operating Margin
-14.52%
Return on Equity
-129.58%
Return on Assets
-5.84%
Financial Health
Current Ratio
0.76
Debt to Equity
185.61
Beta
1.12
Per Share Data
EPS (TTM)
$-0.39
Book Value per Share
$0.27
Revenue per Share
$3.33
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| SMWB | 226.9M | - | 9.66 | -129.58% | -11.66% | 185.61 |
| Salesforce | 160.0B | 23.99 | 2.94 | 12.40% | 17.96% | 29.95 |
| Uber Technologies | 153.6B | 15.78 | 5.71 | 39.93% | 19.33% | 43.81 |
| CS Disco | 249.5M | - | 2.19 | -32.20% | -28.29% | 5.44 |
| Blaize Holdings | 246.7M | -1.01 | 6.28 | -530.52% | 16.03% | 7.56 |
| Nerdy | 223.5M | - | 5.99 | -135.37% | -22.30% | 75.09 |
Financial data is updated regularly. All figures are in the company's reporting currency.






