Semrush Holdings, Inc. (SEMR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de marketing digital en rápida evolución, Semrush Holdings, Inc. (SEMR) surge como una plataforma de potencia que transforma cómo las empresas comprenden y conquistan los desafíos de marketing en línea. Al ofrecer un conjunto integral de SEO, inteligencia competitiva y herramientas de análisis de marketing, SEMRUSH ha revolucionado la forma en que los profesionales y las empresas digitales estrategan su presencia en línea. Esta profunda inmersión en su lienzo de modelo de negocio revela la intrincada mecánica detrás de su éxito, mostrando cómo una plataforma tecnológica sofisticada puede ofrecer un valor sin precedentes a los vendedores en diversas industrias y escalas organizativas.

Semrush Holdings, Inc. (SEMR) - Modelo de negocio: asociaciones clave

Agencias de marketing digital y trabajadores independientes

SEMRUSH mantiene asociaciones estratégicas con aproximadamente más de 500 agencias de marketing digital a nivel mundial. Estas asociaciones generan aproximadamente el 35% de los ingresos de referencia para la empresa.

Tipo de asociación	Número de socios	Valor de referencia anual
Agencias de marketing digital	500+	$ 12.4 millones
Profesionales de marketing independientes	2,500+	$ 3.7 millones

Socios de integración de software y tecnología

SEMRUSH colabora con más de 75 socios de integración de tecnología en varias plataformas.

• Hubspot
• Análisis de Google
• Con más zapas
• WordPress
• Shop

Proveedores de infraestructura en la nube

Semrush utiliza Servicios web de Amazon (AWS) Como su principal proveedor de infraestructura en la nube, que admite el tiempo de actividad de la plataforma 99.99%.

Proveedor de nubes	Gasto de infraestructura anual	Nivel de servicio
Servicios web de Amazon (AWS)	$ 4.2 millones	De grado empresarial

Collaboradores del ecosistema de tecnología de marketing (Martech)

SEMRUSH se integra con más de 100 plataformas Martech, expandiendo su alcance del ecosistema.

• Salesforce
• Mailchimp
• Seomonitor
• Ahrefs

Redes de marketing de afiliación

SEMRUSH ha establecido asociaciones con 3 principales redes de afiliados, generando $ 2.1 millones en ingresos impulsados ​​por afiliados anualmente.

Red de afiliados	Estructura de comisión	Ingresos anuales de afiliados
Radio de impacto	20% de comisión recurrente	$ 1.2 millones
Sharasale	15% de comisión recurrente	$ 0.6 millones
Junction de la comisión	18% de comisión recurrente	$ 0.3 millones

Semrush Holdings, Inc. (SEMR) - Modelo de negocio: actividades clave

Desarrollo y mantenimiento de la plataforma de análisis SEO

Semrush invirtió $ 53.7 millones en gastos de investigación y desarrollo en 2022. La plataforma cubre 142 países y 26 idiomas, con más de 55 herramientas e informes.

Métricas de plataforma	Datos 2022
Tamaño total de la base de datos	24.300 millones de palabras clave
Frecuencia de rastreo web	Actualizado cada 6-8 semanas

Mejora del producto de software continuo

SEMRUSH libera aproximadamente 12-15 actualizaciones de productos anualmente, centrándose en características basadas en IA y capacidades de análisis avanzados.

• Mejoras del algoritmo de aprendizaje automático
• Expansiones de integración de API
• Mejoras de procesamiento de datos en tiempo real

Investigación de marketing digital y análisis de tendencias

Categoría de investigación	Volumen anual
Informes del mercado	24 informes completos
Análisis de tendencias	Más de 500 ideas de marketing digital

Atención al cliente e incorporación

SEMRUSH mantiene un equipo de apoyo de más de 250 profesionales, que ofrece asistencia multicanal en 15 idiomas.

• Soporte técnico 24/7
• Gestión de cuentas dedicada
• Programas de incorporación personalizados

Estrategias de marketing y adquisición de clientes

El gasto de marketing alcanzó los $ 74.2 millones en 2022, dirigidos a profesionales de marketing digital B2B global.

Canal de adquisición	Tasa de conversión del cliente
Sitio web directo	3.4%
Programas de referencia	2.7%
Publicidad digital	2.1%

Semrush Holdings, Inc. (SEMR) - Modelo de negocio: recursos clave

Análisis de datos avanzados y tecnologías de IA

Semrush invirtió $ 54.3 millones en investigación y desarrollo en 2022, centrándose en las capacidades de IA y aprendizaje automático. La infraestructura tecnológica de la compañía admite el procesamiento de más de 22 mil millones de palabras clave y 8.500 millones de páginas web.

Inversión tecnológica	Cantidad
Gasto de I + D (2022)	$ 54.3 millones
Palabras clave procesadas	22 mil millones
Páginas web analizadas	8.500 millones

SEO patentado y bases de datos de marketing digital

SEMRUSH mantiene extensas bases de datos patentadas que cubren múltiples dominios de marketing digital.

• Base de datos de marketing digital global con 22 mil millones de palabras clave
• Seguimiento de infraestructura de rastreo web 8.500 millones de páginas web
• Datos que cubren 142 mercados geográficos

Equipos calificados de ingeniería y ciencia de datos

A partir del cuarto trimestre de 2022, SEMRUSH empleó a 812 empleados en total, con aproximadamente el 62% dedicado a roles de ingeniería y ciencia de datos.

Categoría de empleado	Número	Porcentaje
Total de empleados	812	100%
Ingeniería/ciencia de datos	503	62%

Infraestructura de software basada en la nube

SEMRUSH opera una infraestructura de nube escalable con un tiempo de actividad del 99.9%, lo que respalda a más de 55,000 clientes que pagan a nivel mundial.

Propiedad intelectual y patentes de software

A partir de 2022, Semrush tenía 17 patentes de software registradas y mantuvo 23 aplicaciones de patentes pendientes en dominios de tecnología de marketing digital.

Propiedad intelectual	Contar
Patentes registradas	17
Aplicaciones de patentes pendientes	23

Semrush Holdings, Inc. (SEMR) - Modelo de negocio: propuestas de valor

Plataforma integral de inteligencia de marketing digital

SEMRUSH proporciona una plataforma que cubre 55 mercados globales con más de 25 mil millones de palabras clave en su base de datos. La plataforma ofrece más de 50 herramientas para profesionales de marketing digital.

Métrica de plataforma	Valor
Mercados totales cubiertos	55
Base de datos de palabras clave	Más de 25 mil millones
Herramientas de marketing disponibles	50+

Herramientas de análisis competitivos en tiempo real

SEMRUSH ofrece inteligencia competitiva en tiempo real con:

• Análisis de comparación de dominio instantáneo
• Seguimiento de palabras clave de la competencia
• Métricas de evaluación de participación de mercado

Informes y recomendaciones de marketing basados ​​en datos

La plataforma genera más de 500,000 recomendaciones de marketing diario con una tasa de precisión del 92%.

Métrica de la visión	Valor
Recomendaciones diarias	500,000+
Precisión de recomendación	92%

SEO todo en uno SEO, marketing de contenido y solución de investigación competitiva

SEMRUSH integra múltiples funciones de marketing con 7 categorías de productos principales.

• SEO
• Marketing de contenidos
• Investigación competitiva
• PPC
• Redes sociales
• Monitoreo de marca
• Analítica

Software de optimización de marketing rentable

El precio varía de $ 129.95 a $ 499.95 por mes con opciones de suscripción anuales.

Nivel de suscripción	Precio mensual
Pro	$129.95
Gurú	$249.95
Negocio	$499.95

Semrush Holdings, Inc. (SEMR) - Modelo de negocio: relaciones con los clientes

Plataforma en línea de autoservicio

A partir del cuarto trimestre de 2023, SEMRUSH ofrece una plataforma digital con 7 niveles de precios diferentes que van desde $ 129.95 a $ 499.95 por mes. La plataforma admite más de 55 herramientas y características para profesionales de marketing digital.

Característica de la plataforma	Accesibilidad de usuario
Tablero	Acceso en tiempo real 24/7
Informes de autoservicio	Generación instantánea

Gestión personalizada del éxito del cliente

SEMRUSH ofrece administración de cuentas dedicada para clientes de nivel empresarial con valores anuales de contratos que superan los $ 50,000.

• Soporte de incorporación personalizado
• Revisiones comerciales trimestrales
• Consultas de estrategia personalizadas

Extensos recursos y tutoriales de aprendizaje en línea

En 2023, Semrush Academy reportó más de 250,000 usuarios registrados con más de 500 tutoriales en video que cubren temas de marketing digital.

Recurso de aprendizaje	Total disponible
Tutoriales de video	500+
Programas de certificación	12

Foros de apoyo impulsados ​​por la comunidad

Semrush Community Forum alberga más de 75,000 miembros activos con más de 10,000 discusiones mensuales en 2023.

Seminarios web y sesiones de capacitación regulares de productos

Durante 2023, SEMRUSH realizó 84 seminarios web en vivo con una asistencia promedio de 3.500 profesionales de marketing digital.

Categoría de seminario web	Recuento anual
Seminarios web de características de productos	48
Seminarios web de tendencia de la industria	36

Semrush Holdings, Inc. (SEMR) - Modelo de negocio: canales

Ventas directas en línea a través del sitio web

A partir del cuarto trimestre de 2023, SEMRUSH generó $ 71.4 millones en ingresos a través de ventas directas en línea a través de SEMRUSH.com. El canal de ventas en línea representaba el 92.3% de los ingresos totales de la compañía.

Tipo de canal	Ingresos ($ M)	Porcentaje de ingresos totales
Ventas directas del sitio web	71.4	92.3%

Modelo de suscripción SaaS

SEMRUSH ofrece cuatro niveles de suscripción con la siguiente estructura de precios:

• Plan Pro: $ 129.95/mes
• Plan Guru: $ 249.95/mes
• Plan de negocios: $ 499.95/mes
• Plan empresarial: precios personalizados

Marketing digital y publicidad

El gasto en marketing digital en 2023 fue de $ 22.6 millones, lo que representa el 14.5% de los ingresos totales de la compañía.

Programas de marketing de afiliación

El marketing de afiliados generó $ 5.2 millones en ingresos, con 127 socios afiliados activos a diciembre de 2023.

Métricas de socios afiliados	2023 datos
Socios afiliados totales	127
Ingresos por afiliados	$ 5.2M

Conferencias de tecnología y marketing

SEMRUSH participó en 18 conferencias de marketing global en 2023, con un alcance de marketing estimado de 43,000 clientes potenciales.

• Conferencias a la que asistieron: 18
• Alcance estimado del cliente: 43,000
• Gastos de marketing: $ 1.7 millones

Semrush Holdings, Inc. (SEMR) - Modelo de negocio: segmentos de clientes

Profesionales de marketing digital

SEMRUSH atiende a aproximadamente 95,000 clientes que pagan en 142 países a partir del tercer trimestre de 2023. Los profesionales de marketing digital representan un segmento central con requisitos específicos.

Características de segmento	Porcentaje
Profesionales de marketing digital que utilizan la plataforma	42.5%
Gasto anual promedio por profesional	$1,587

Pequeñas y medianas empresas

Las PYME constituyen una porción significativa de la base de clientes de Semrush con soluciones específicas.

• Total de clientes de SMB: 57,375
• Suscripción mensual promedio: $ 229.99
• Ingresos anuales del segmento SMB: $ 15.7 millones

Grandes equipos de marketing empresarial

Los clientes empresariales representan un segmento de alto valor para las soluciones avanzadas de SEMRUSH.

Métricas de segmento empresarial	Valor
Recuento de clientes empresariales	3,425
Valor anual promedio del contrato	$6,750

SEO y especialistas en marketing de contenido

Profesionales especializados que utilizan herramientas avanzadas de análisis de marketing digital.

• Usuarios especialistas en SEO totales: 42,000
• Porcentaje de la base total de clientes: 29.6%
• Gasto promedio de la plataforma anual: $ 1,342

Vendedores y consultores independientes

Profesionales independientes que aprovechan las soluciones de marketing escalables de Semrush.

Estadísticas de segmento independiente	Cantidad
Usuarios independientes totales	22,500
Suscripción mensual promedio	$149.99

Semrush Holdings, Inc. (SEMR) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2022, Semrush informó gastos de investigación y desarrollo de $ 70.1 millones, lo que representa el 24.1% de los ingresos totales.

Año	Gastos de I + D	Porcentaje de ingresos
2022	$ 70.1 millones	24.1%
2021	$ 49.3 millones	22.9%

Infraestructura en la nube y mantenimiento de tecnología

SEMRUSH incurre en costos significativos para la infraestructura en la nube y el mantenimiento de la tecnología, con un gasto anual estimado de aproximadamente $ 15-20 millones.

• Amazon Web Services (AWS) Proveedor primario de infraestructura en la nube
• Mantenimiento y actualizaciones de la pila de tecnología continua
• Optimización continua del sistema y inversiones de escalabilidad

Inversiones de ventas y marketing

En 2022, Semrush asignó $ 129.4 millones a los gastos de ventas y marketing, lo que representa el 44.5% de los ingresos totales.

Año	Ventas & Gastos de marketing	Porcentaje de ingresos
2022	$ 129.4 millones	44.5%
2021	$ 93.2 millones	43.2%

Compensación y beneficios de los empleados

La compensación total de los empleados para 2022 fue de $ 94.3 millones, incluidos salarios, compensación basada en acciones y beneficios.

Categoría de compensación	Cantidad
Salarios base	$ 68.7 millones
Compensación basada en acciones	$ 15.6 millones
Beneficios e impuestos	$ 10 millones

Costos de adquisición y soporte de clientes

Los gastos de atención al cliente y adquisición para 2022 totalizaron aproximadamente $ 25-30 millones.

• Infraestructura de atención al cliente
• Recursos de incorporación y capacitación
• Operaciones del equipo de éxito del cliente

SEMRUSH Holdings, Inc. (SEMR) - Modelo de negocios: flujos de ingresos

Planes de suscripción SaaS mensuales y anuales

SEMRUSH ofrece los siguientes niveles de suscripción con precios específicos a partir de 2024:

Plan	Precio mensual	Precio anual
Pro	$129.95	$1,199.40
Gurú	$249.95	$2,399.40
Negocio	$499.95	$4,799.40

Modelos de precios escalonados

SEMRUSH implementa una estrategia de precios de niveles múltiples con características diferenciadas:

• Pro Plan: Adecuado para freelancers y startups
• Plan Guru: diseñado para agencias de marketing pequeñas a medianas
• Plan de negocios: solución de nivel empresarial con capacidades avanzadas

Licencias de software empresarial

Ingresos de licencia empresarial para SEMRUSH en 2023 $ 124.3 millones, que representa el 37% de los ingresos recurrentes anuales totales.

Servicios profesionales y consultoría

Categoría de servicio	Contribución de ingresos
Consultoría de SEO	$ 18.7 millones
Capacitación en marketing digital	$ 6.2 millones
Servicios de análisis personalizados	$ 4.5 millones

Función de complemento y monetización de herramientas

Flujos de ingresos adicionales de herramientas especializadas:

• Seguimiento de posición: $ 15.60 por mes
• Plataforma de marketing de contenido: $ 49.95 por mes
• Herramienta de gestión de redes sociales: $ 29.95 por mes

Ingresos anuales totales para SEMRUSH en 2023: $ 332.1 millones

Semrush Holdings, Inc. (SEMR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Semrush Holdings, Inc. over the competition right now, late in 2025. It's about consolidation and advanced intelligence, not just point solutions anymore.

The primary value is unified online visibility management across search engine optimization (SEO), advertising, content, social media, and competitive research. This platform aims to be the single source for understanding and executing digital marketing campaigns globally. You see this reflected in their overall platform strength, which Forrester named them a Leader in for SEO Solutions.

The shift toward advanced intelligence is a major draw. Semrush Holdings, Inc. is heavily investing in AI-driven insights to make content creation and marketing efforts much more efficient. This isn't just talk; the AI portfolio's Annual Recurring Revenue (ARR) more than doubled from the second quarter of 2025 to the third quarter of 2025, adding $10 million in ARR during Q3 alone. Customers who have adopted at least one of these AI solutions show net revenue retention approaching 150%, which tells you the value realization is significant.

For those needing to see what rivals are doing, the platform delivers comprehensive competitive research and market analysis tools. This capability is crucial for upmarket clients. For instance, the Enterprise SEO solution, which offers faster and more customized insights, saw its average ARR per customer hit approximately $60,000.

The solutions are definitely scalable. While the total number of paying customers was approximately 114,000 as of September 30, 2025, the growth story is in the high-value segments. The number of customers paying over $50,000 annually grew by over 72% year-over-year as of Q3 2025, showing the platform successfully moves upmarket from smaller businesses to global enterprise clients.

Honestly, the best proof of value is what existing customers are doing. The overall dollar-based net revenue retention (DBNRR) held steady at 105% as of September 30, 2025. That means, even excluding new customers, the revenue from the existing base grew by 5% year-over-year. For the Enterprise segment specifically, that retention rate strengthened to 125%. Here's a quick look at how the high-value segments are performing:

Metric	Value as of Q3 2025	Context/Comparison
Overall DBNRR	105%	As of September 30, 2025
Enterprise DBNRR	125%	Improvement of nearly 800 basis points year-over-year
Customers paying over $50k Annually Growth	Over 72% year-over-year	Indicates successful enterprise traction
AI Adopter DBNRR	Approaching 150%	Reinforces value of AI integration
Total Paying Customers	Approximately 114,000	Down from prior quarter due to strategic focus

The platform helps you consolidate tools, which is a huge efficiency play for larger organizations. For example, management expected the Enterprise SEO solution ARR to grow from $11 million in Q1 2025 to $30 million by the end of 2025, implying customer count growth from nearly 200 to over 500. This focus on high-value accounts, even if it slightly reduced the total customer count to 114,000, is driving better per-customer value, evidenced by the average ARR per customer increasing by 17% year-over-year in Q3.

The value propositions boil down to these key areas of customer benefit:

• Unified management across all digital visibility channels.
• Accelerated marketing efficiency via Generative AI tools.
• Deep competitive intelligence for strategic planning.
• Proven scalability demonstrated by 72% growth in $50k+ customers.
• Strong existing customer value capture, shown by the 105% DBNRR.

If onboarding takes 14+ days, churn risk rises, so speed of value realization with these new AI features is defintely key to maintaining that high Enterprise NRR of 125%.

Finance: draft 13-week cash view by Friday.

Semrush Holdings, Inc. (SEMR) - Canvas Business Model: Customer Relationships

You're looking at how Semrush Holdings, Inc. manages its vast user base, which spans from casual users to the largest corporations. It's a multi-pronged approach, blending free access with high-touch enterprise sales.

Product-Led Growth (PLG) for initial user adoption and scale

The initial hook is the free tier, driving massive top-of-funnel volume. As of December 2024, Semrush Holdings, Inc. had 1,166,000 active users worldwide. The split shows the scale of the PLG motion: 1,049,000 active free customers, representing approximately 90% of the total active base. This base grew by 10.37% from 2023 to 2024. The conversion to paid is the key metric here; as of December 2024, there were 117,000 paying customers, an 8.33% increase year-over-year. By June 30, 2025, the paying customer count was approximately 116,000, with Annual Recurring Revenue (ARR) at $435.3 million.

• Total Registered Accounts Since Launch: Over 10 million users.
• Total Active Users (Dec 2024): 1,166,000.
• Paying Customers (Dec 2024): 117,000.

Dedicated Sales-Led motion for high-value enterprise accounts

For the largest accounts, the relationship shifts to a dedicated sales effort. Semrush Holdings, Inc. has 8,500 customers within its base that qualify as enterprise users, though only 5.1% of the total customer base are companies with over 500 employees. The focus on this segment is clear from the growth in high-value contracts. Customers paying more than $50,000 annually increased by 83% year-over-year as of Q2 2025. The Enterprise SEO segment specifically targeted growth from 200 customers in Q1 2025 to over 500 by the end of 2025, aiming for an Enterprise SEO ARR exit of $30 million, up from $11 million in Q1 2025. Also, 40% of all Fortune 500 companies are clients.

Customer Tier Metric	Count (Latest Data)	Context/Period
Customers with ARR $10K+	4,426	September 2024
Customers with ARR $50K+	291	2024
Enterprise SEO Customers	200	Q1 2025
Target Enterprise SEO Customers	>500	Exit 2025

Self-service model for smaller customers via subscription tiers

The bulk of the paying base operates on self-service subscription tiers. The average revenue generated per paying customer in 2024 was approximately $3,125 per year. Forecasts suggest the total number of paying users could reach around 135,000 in 2025. The platform itself has expanded its offering from 2 tools in 2008 to over 55 tools by 2025, supporting a wider range of self-service needs.

Customer support and real-time feedback loop for platform optimization

Retention metrics show the health of these relationships. Dollar-based net revenue retention (DBNRR) stood at 106% in Q1 2025, dipping slightly to 105% as of June 30, 2025. This means that even with macro headwinds, the existing customer base is still expanding its spend by 5% to 6% annually. The platform uses customer feedback to continuously improve its machine learning models. On review platforms, Semrush Holdings, Inc. holds an average rating of 4.6 out of 5 from over 2,200 users on Capterra and 4.5 out of 5 from over 2,500 users on G2.

Enterprise Partner Program for managed service relationships

The focus on enterprise adoption is also supported by partner channels. The AI product suite, which is integrated into the platform, was already generating over $4 million in ARR, with expectations to reach close to 5% of total ARR by the end of 2025. This indicates a growing ecosystem where partners may be reselling or integrating these advanced solutions.

Semrush Holdings, Inc. (SEMR) - Canvas Business Model: Channels

You're looking at how Semrush Holdings, Inc. gets its product into the hands of its customers as of late 2025. It's a multi-pronged approach, moving upmarket while still relying on the massive top-of-funnel awareness built over years.

Direct-to-customer through the Semrush SaaS platform and website

The core channel is direct, meaning customers sign up and use the platform via the Semrush website. This self-service model is key for the volume of users they manage. As of the end of Q3 2025, Annual Recurring Revenue (ARR) stood at $455.4 million, up 14% year-over-year from Q3 2024. The total paying customer count was approximately 118,000 at the end of Q1 2025, though this figure saw a slight sequential decrease to approximately 116,000 by the end of Q2 2025, which management attributed to softness in the freelancer segment. The platform maintains a very large top-of-funnel, with 1,166,000 total active users (free and paid) as of December 2024. The Average ARR Per Paying Customer was over $3,600 as of Q1 2025, showing growth of more than 14% year-over-year, which is a direct reflection of successful upselling within this direct channel.

Here's a quick look at the scale of the direct customer base:

Metric	Value (Latest Available)	Date/Context
Annual Recurring Revenue (ARR)	$455.4 million	As of September 30, 2025 (Q3 2025)
Total Paying Customers	Approx. 118,000	As of March 31, 2025 (Q1 2025)
Average ARR Per Paying Customer	Over $3,600	As of Q1 2025
Total Active Users	1,166,000	As of December 2024

Global sales team focused on the growing Enterprise segment

The push upmarket is heavily reliant on a dedicated global sales team targeting larger organizations. This focus is showing results, as the Enterprise SEO Solution had nearly 200 paying customers by the end of Q1 2025, with an average ARR per customer of approximately $60,000. The ARR specifically for this Enterprise SEO Solution stood at $11 million at the end of Q1 2025, with management expecting it to reach $30 million by the end of 2025. The broader cohort of high-value customers is also expanding rapidly; customers paying over $50,000 ARR increased 86% year-over-year to 388 as of Q1 2025. By Q3 2025, the enterprise customer segment drove 33% year-over-year Annual Recurring Revenue growth, validating this channel strategy.

Digital marketing and content channels (e.g., acquired Third Door Media)

Semrush Holdings, Inc. uses its own expertise in digital marketing and content to drive awareness, which feeds the direct channel. The company's vast database, including over 26.5 billion keywords and 43 trillion backlinks (as of 2024/predicted 2025), is a direct result of the product development that fuels content marketing efforts. While specific revenue attribution for the acquisition of Third Door Media isn't broken out in the latest reports, the overall strategy relies on thought leadership and organic visibility, which is supported by the fact that the company's database crawls 10 billion URLs on a daily basis.

The reach through content and organic search is massive:

• Total active users (free and paid) as of December 2024: 1,166,000.
• Active free customers as of December 2024: 1,049,000.
• The platform offers over 55 tools.

Affiliate and referral programs for lead generation

Affiliate and referral programs act as a performance-based extension of the marketing channel. Semrush Holdings, Inc. runs a generous program that rewards partners for driving both trials and purchases. Affiliates can earn up to $450 per sale, plus $10 for each trial activation, depending on the partner tier and product promoted. The program supports promotion across various toolkits, including Semrush One and AI Visibility. The cookie length for referrals is noted as 120-day in some partner materials, which is quite long for the industry.

App integrations and API access for platform partners

The API channel allows platform partners to embed Semrush data into their own systems, creating a distribution and usage multiplier effect. The Semrush API provides access to the core data assets, which include:

• Keyword database size: Over 26.5 billion keywords.
• Backlink database size: Over 43 trillion backlinks.
• Daily URL crawl rate: 10 billion URLs.

This integration capability is crucial for enterprise adoption, allowing large organizations to automate data retrieval and build custom dashboards, effectively turning partners into channel extensions.

Semrush Holdings, Inc. (SEMR) - Canvas Business Model: Customer Segments

You're looking at how Semrush Holdings, Inc. segments its users to drive its platform's growth, especially as the market shifts toward AI-driven search. It's clear the strategy is heavily weighted toward upmarket expansion, but the lower end still matters, even with recent softness.

The customer base is broad, ranging from individual specialists to large corporations. As of the third quarter of 2025, the total number of paying customers was not explicitly stated for that period, but the count was approximately 116,000 as of June 30, 2025, down sequentially from approximately 118,000 on March 31, 2025.

The focus on higher-value customers is evident in the growth rates for the top tiers. For instance, customers paying over $50,000 annually-the core Enterprise segment-grew by over 72% year-over-year in the third quarter of 2025. This upmarket push is also reflected in the overall average revenue per customer, which reached $3,756 as of June 30, 2025, representing growth of more than 15% compared to the same quarter last year.

Here's a breakdown of the key statistical data points for these segments as of late 2025:

Customer Segment Definition	Latest Reported Growth Rate	Specific Data Point/Count
Enterprise customers (>$50k ARR)	Growing over 72% year-over-year (Q3 2025)	Customers paying over $50,000 annually grew by over 72% year-over-year (Q3 2025)
Customers paying over $10,000 annually	Growing by 30% year-over-year (Q3 2025)	Grew by 39% year-over-year (Q1 2025)
Total Paying Customers	N/A (Sequential decline noted)	Approximately 116,000 as of June 30, 2025
Average ARR per Paying Customer	Up more than 15% year-over-year (Q2 2025)	$3,756 as of June 30, 2025

The customer base is clearly stratified, with different segments showing different health indicators. The company launched the Semrush Enterprise Partner Program to expand its enterprise footprint and create new growth opportunities for marketing agencies and their clients.

The composition of the customer base includes:

• Enterprise customers (>$50k ARR): This group is the primary driver of upmarket expansion, with the Enterprise SEO solution reaching 260 customers in Q2 2025, averaging approximately $60,000 in ARR per customer.
• Marketing agencies and consultants with extensive client portfolios: Targeted for growth via the new Enterprise Partner Program.
• Small and Medium Businesses (SMBs) using lower-tier subscription plans: This segment is experiencing softness, which contributed to the full-year 2025 revenue outlook revision due to an increase in paid-search cost per click.
• Individual marketing professionals and SEO specialists: This group, which includes freelancers, showed sequential softness in customer count between Q1 and Q2 2025.

The overall stickiness across the base, as measured by Dollar-based Net Revenue Retention, was 105% as of September 30, 2025.

Finance: draft 13-week cash view by Friday.

Semrush Holdings, Inc. (SEMR) - Canvas Business Model: Cost Structure

You're looking at the major drains on Semrush Holdings, Inc.'s bottom line as of late 2025. The cost structure reflects a company heavily prioritizing future growth through technology and market penetration, which naturally means high operating expenses right now.

Significant investment in Research and Development for AI and product innovation is a clear cost driver. While specific R&D dollar amounts for 2025 aren't cleanly isolated across all reports, the strategic focus is evident. For instance, the AI portfolio's Annual Recurring Revenue (ARR) more than doubled from Q2 2025 to Q3 2025, signaling substantial, ongoing investment in engineering and product development to maintain that momentum. This investment is key to capturing the upmarket shift.

Sales and Marketing expenses are also substantial, necessary to drive the observed enterprise and upmarket traction. Analysts noted in Q2 2025 that GAAP operating expenses, specifically Research and Development and Sales and Marketing, rose faster than GAAP revenue. This spend is fueling the growth in higher-value customers; customers paying more than $50,000 annually increased by a massive 83% year-over-year as of Q2 2025, and customers paying over $10,000 annually grew 30% year-over-year as of Q3 2025.

The direct costs associated with running the platform are itemized below. Cost of Revenue, which includes data center and third-party service costs, hit $45.0 million in Q2 2025, up from $41.3 million in Q1 2025. This is a significant component of the overall cost base.

Metric	Period	Amount (USD)
Cost of Revenue	Q2 2025	$45.0 million
Cost of Revenue	Q1 2025	$41.3 million
Revenue	Q2 2025	$108.9 million
Revenue	Q3 2025	$112.1 million
AI Toolkit ARR	Q2 2025 (End of Period)	$3 million

Personnel costs, which include customer support and the teams driving R&D and Sales, are a major factor, especially when factoring in equity. In Q2 2025, stock-based compensation expense nearly doubled compared to the prior year, indicating a significant non-cash component within the overall personnel spend for both product development and customer-facing roles.

The impact of global operations shows up in currency headwinds. For Q2 2025, the Non-GAAP operating margin of 11.0% was down approximately two forty basis points year over year, driven almost entirely by a weaker U.S. Dollar. Furthermore, the company noted a foreign currency fluctuation expense headwind of approximately $10 million impacting results.

Key cost structure observations include:

• Gross profit margin remained strong at 82.15% in Q2 2025.
• Cash flow from operations was tight in Q2 2025 at $0.7 million, representing a margin of 0.6%.
• The full-year 2025 non-GAAP operating margin guidance was set at approximately 12%.
• The company is prioritizing high-value customers, as those paying over $50,000 annually grew 83% year-over-year in Q2 2025.

Finance: draft 13-week cash view by Friday.

Semrush Holdings, Inc. (SEMR) - Canvas Business Model: Revenue Streams

You're looking at how Semrush Holdings, Inc. actually brings in the money, which is key for any financial model you're building. Honestly, it's all about that recurring software-as-a-service (SaaS) income, but the growth drivers are shifting.

The core of the revenue stream is subscription fees from a tiered SaaS model. Semrush Holdings, Inc. structures this for different user needs, typically segmented into Pro, Guru, and Business tiers. This structure is designed to capture value as a customer's needs scale up, moving them from individual use to larger team or enterprise requirements.

Looking at the near-term outlook, the company has provided guidance for the full fiscal year 2025. For the full year 2025, Semrush Holdings, Inc. expects revenue in the range of $443.5 million and $445.5 million. This represents about 18% growth at the midpoint year-over-year.

The most immediate measure of subscription health is the Annual Recurring Revenue (ARR). As of September 30, 2025, the Annual Recurring Revenue (ARR) was $455.4 million. This figure is important because it was up 14% year-over-year as of that date and saw a sequential increase of $20 million from the prior quarter.

Here's a quick look at some key metrics around that Q3 2025 ARR base:

Metric	Value as of Q3 2025 (Sept 30, 2025)
Annual Recurring Revenue (ARR)	$455.4 million
Average ARR per Paying Customer	$4,000
Total Paying Customers	Approximately 114,000
Enterprise Segment ARR Growth (YoY)	33%

Beyond the core subscriptions, Semrush Holdings, Inc. is seeing significant traction from new product categories, which fall under add-on product revenue. While specific dollar amounts for every add-on aren't always broken out, the focus is clearly on upmarket offerings and new technology integration. For instance, the Enterprise segment showed strong adoption, with ARR growing 33% year-over-year.

The most dynamic area of revenue expansion is definitely revenue from the rapidly expanding AI portfolio. The company is making a concerted push here. In the third quarter of 2025 alone, the AI search products added $10 million in ARR, which more than doubled the ARR from that portfolio compared to the second quarter of 2025. Management is projecting this momentum will continue, with AI-driven ARR expected to hit $30 million by the end of 2025.

You should track these specific revenue drivers:

• Subscription fees from Pro, Guru, and Business tiers.
• Revenue from the Enterprise customer segment.
• Revenue generated by new AI-focused product offerings.
• Revenue from specific toolkits like the Local Toolkit.

The shift in customer mix is also a revenue story; the number of customers spending over $50,000 annually increased 72% year-over-year as of September 30, 2025. That's where the high-value subscription revenue is really accelerating.

Finance: draft 13-week cash view by Friday.