Semrush Holdings, Inc. (SEMR): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage marketing numérique en évolution rapide, Semrush Holdings, Inc. (SEMR) émerge comme une plate-forme puissante transformant la façon dont les entreprises comprennent et conquérir les défis de marketing en ligne. En offrant une suite complète de référencement, d'intelligence compétitive et d'outils d'analyse marketing, Semrush a révolutionné la façon dont les professionnels et les entreprises numériques élaborent des stratégies en ligne. Cette plongée profonde dans leur toile de modèle commercial révèle la mécanique complexe de leur succès, montrant comment une plate-forme technologique sophistiquée peut offrir une valeur sans précédent aux spécialistes du marketing dans diverses industries et des échelles organisationnelles.

Semrush Holdings, Inc. (SEMR) - Modèle commercial: partenariats clés

Agences de marketing numérique et pigistes

Semrush maintient des partenariats stratégiques avec environ plus de 500 agences de marketing numérique dans le monde. Ces partenariats génèrent environ 35% des revenus de référence pour la société.

Type de partenariat	Nombre de partenaires	Valeur de référence annuelle
Agences de marketing numérique	500+	12,4 millions de dollars
Professionnels du marketing indépendant	2,500+	3,7 millions de dollars

Partenaires d'intégration des logiciels et technologiques

Semrush collabore avec plus de 75 partenaires d'intégration technologique sur diverses plateformes.

• Hubspot
• Google Analytics
• Zéro
• Wordpress
• Faire du shoprif

Fournisseurs d'infrastructures cloud

Semrush utilise Amazon Web Services (AWS) comme son principal fournisseur d'infrastructures cloud, prenant en charge la disponibilité de la plate-forme de 99,99%.

Fournisseur de cloud	Dépenses annuelles d'infrastructure	Niveau de service
Amazon Web Services (AWS)	4,2 millions de dollars	De qualité d'entreprise

Collaborateurs de l'écosystème de la technologie marketing (Martech)

Semrush s'intègre à plus de 100 plates-formes Martech, élargissant sa portée de l'écosystème.

• Salesforce
• Mailchimp
• Séomonitor
• Ahrefs

Réseaux de marketing d'affiliation

Semrush a établi des partenariats avec 3 principaux réseaux d'affiliation, générant un chiffre d'affaires de 2,1 millions de dollars par an.

Réseau d'affiliation	Structure de commission	Revenus affiliés annuels
Rayon d'impact	20% de commission récurrente	1,2 million de dollars
Shareasale	15% de commission récurrente	0,6 million de dollars
Jonction de commission	18% de commission récurrente	0,3 million de dollars

Semrush Holdings, Inc. (SEMR) - Modèle d'entreprise: Activités clés

Développement et maintien de la plate-forme d'analyse SEO

Semrush a investi 53,7 millions de dollars dans les frais de recherche et développement en 2022. La plate-forme couvre 142 pays et 26 langues, avec plus de 55 outils et rapports.

Métriques de la plate-forme	2022 données
Taille totale de la base de données	24,3 milliards de mots clés
Fréquence de rampe Web	Actualisé toutes les 6 à 8 semaines

Amélioration continue des produits logiciels

SemRush publie environ 12 à 15 mises à jour de produit par an, en se concentrant sur les fonctionnalités axées sur l'IA et les capacités d'analyse avancées.

• Améliorations d'algorithmes d'apprentissage automatique
• Extensions d'intégration de l'API
• Améliorations du traitement des données en temps réel

Recherche en marketing numérique et analyse des tendances

Catégorie de recherche	Volume annuel
Rapports du marché	24 rapports complets
Analyse des tendances	Plus de 500 informations sur le marketing numérique

Support client et intégration

Semrush maintient une équipe d'assistance de plus de 250 professionnels, offrant une assistance multicanal en 15 langues.

• Assistance technique 24/7
• Gestion de compte dédiée
• Programmes d'intégration personnalisés

Stratégies de marketing et d'acquisition des clients

Les dépenses de marketing ont atteint 74,2 millions de dollars en 2022, ciblant les professionnels mondiaux du marketing numérique B2B.

Canal d'acquisition	Taux de conversion des clients
Site Web direct	3.4%
Programmes de référence	2.7%
Publicité numérique	2.1%

Semrush Holdings, Inc. (SEMR) - Modèle d'entreprise: Ressources clés

Analyse avancée des données et technologies d'IA

Semrush a investi 54,3 millions de dollars dans la recherche et le développement en 2022, en se concentrant sur l'IA et les capacités d'apprentissage automatique. L'infrastructure technologique de l'entreprise prend en charge le traitement de plus de 22 milliards de mots clés et de 8,5 milliards de pages Web.

Investissement technologique	Montant
Dépenses de R&D (2022)	54,3 millions de dollars
Mots-clés traités	22 milliards
Pages Web analysées	8,5 milliards

Bases de données de référencement et de marketing numérique propriétaires

Semrush maintient de vastes bases de données propriétaires couvrant plusieurs domaines de marketing numérique.

• Base de données mondiale de marketing numérique avec 22 milliards de mots clés
• Infrastructure sur le Web Suivi de 8,5 milliards de pages Web
• Données couvrant 142 marchés géographiques

Équipes d'ingénierie et de science des données qualifiées

Au quatrième trimestre 2022, Semrush a employé 812 employés au total, avec environ 62% dédiés aux rôles d'ingénierie et de science des données.

Catégorie des employés	Nombre	Pourcentage
Total des employés	812	100%
Ingénierie / science des données	503	62%

Infrastructure logicielle basée sur le cloud

SemRush exploite une infrastructure cloud évolutive avec une disponibilité de 99,9%, soutenant plus de 55 000 clients payants dans le monde.

Propriété intellectuelle et brevets logiciels

En 2022, Semrush détient 17 brevets logiciels enregistrés et maintenu 23 applications de brevet en attente dans les domaines de la technologie de marketing numérique.

Propriété intellectuelle	Compter
Brevets enregistrés	17
Demandes de brevet en instance	23

Semrush Holdings, Inc. (SEMR) - Modèle d'entreprise: propositions de valeur

Plate-forme d'intelligence marketing numérique complète

SemRush fournit une plate-forme couvrant 55 marchés mondiaux avec plus de 25 milliards de mots clés dans sa base de données. La plate-forme propose plus de 50 outils pour les professionnels du marketing numérique.

Métrique de la plate-forme	Valeur
Total des marchés couverts	55
Base de données de mots clés	25 milliards et plus
Outils de marketing disponibles	50+

Outils d'analyse compétitive en temps réel

Semrush fournit une intelligence compétitive en temps réel avec:

• Analyse de comparaison de domaine instantanée
• Suivi des mots clés du concurrent
• Métriques d'évaluation des parts de marché

Informations et recommandations marketing basées sur les données

La plate-forme génère plus de 500 000 recommandations de marketing quotidien avec un taux de précision de 92%.

Insight Metric	Valeur
Recommandations quotidiennes	500,000+
Précision de recommandation	92%

SEO tout-en-un, marketing de contenu et solution de recherche concurrentielle

Semrush intègre plusieurs fonctions de marketing avec 7 catégories de produits de base.

• Référencement
• Marketing de contenu
• Recherche compétitive
• PPP
• Réseaux sociaux
• Surveillance de la marque
• Analytique

Logiciel d'optimisation marketing rentable

Le prix varie de 129,95 $ à 499,95 $ par mois avec des options d'abonnement annuelles.

Niveau d'abonnement	Prix ​​mensuel
Pro	$129.95
Gourou	$249.95
Entreprise	$499.95

Semrush Holdings, Inc. (SEMR) - Modèle d'entreprise: relations avec les clients

Plateforme en ligne en libre-service

Au quatrième trimestre 2023, Semrush propose une plate-forme numérique avec 7 niveaux de prix différents allant de 129,95 $ à 499,95 $ par mois. La plate-forme prend en charge plus de 55 outils et fonctionnalités pour les professionnels du marketing numérique.

Fonctionnalité de plate-forme	Accessibilité de l'utilisateur
Tableau de bord en ligne	Accès en temps réel 24/7
Rapports en libre-service	Génération instantanée

Gestion de réussite client personnalisée

SemRush fournit une gestion des comptes dédiée aux clients au niveau de l'entreprise des valeurs de contrat annuelles dépassant 50 000 $.

• Support d'intégration personnalisé
• Avis sur les entreprises trimestrielles
• Consultations en stratégie personnalisées

De vastes ressources d'apprentissage en ligne et tutoriels

En 2023, la Semrush Academy a rapporté plus de 250 000 utilisateurs enregistrés avec plus de 500 tutoriels vidéo couvrant des sujets de marketing numérique.

Ressource d'apprentissage	Total disponible
Tutoriels vidéo	500+
Programmes de certification	12

Forums de soutien axés sur la communauté

Semrush Community Forum accueille plus de 75 000 membres actifs avec plus de 10 000 discussions mensuelles en 2023.

Webinaires de produits réguliers et séances de formation

En 2023, Semrush a dirigé 84 webinaires en direct avec une fréquentation moyenne de 3 500 professionnels du marketing numérique.

Catégorie de webinaire	Compte annuel
Webinaires de caractéristiques du produit	48
Webinaires de tendance de l'industrie	36

Semrush Holdings, Inc. (SEMR) - Modèle commercial: canaux

Diriger les ventes en ligne via le site Web

Au quatrième trimestre 2023, Semrush a généré 71,4 millions de dollars de revenus grâce à des ventes en ligne directes via Semrush.com. Le canal de vente en ligne représentait 92,3% du total des revenus de l'entreprise.

Type de canal	Revenus ($ m)	Pourcentage du total des revenus
Ventes directes du site Web	71.4	92.3%

Modèle d'abonnement SaaS

Semrush propose quatre niveaux d'abonnement avec la structure de tarification suivante:

• Plan Pro: 129,95 $ / mois
• Plan Guru: 249,95 $ / mois
• Plan d'affaires: 499,95 $ / mois
• Plan d'entreprise: prix personnalisé

Marketing et publicité numériques

Les dépenses de marketing numérique en 2023 étaient de 22,6 millions de dollars, ce qui représente 14,5% du total des revenus de l'entreprise.

Programmes de marketing d'affiliation

Le marketing d'affiliation a généré 5,2 millions de dollars de revenus, avec 127 partenaires affiliés actifs en décembre 2023.

Métriques des partenaires affiliés	2023 données
Partenaires totaux d'affiliation	127
Revenus d'affiliation	5,2 M $

Conférences technologiques et marketing

Semrush a participé à 18 conférences de marketing mondiales en 2023, avec une portée marketing estimée de 43 000 clients potentiels.

• Conférences assistées: 18
• RECHERCHE DE CLIENT ESTIMÉ: 43 000
• Dépenses de marketing: 1,7 million de dollars

Semrush Holdings, Inc. (SEMR) - Modèle d'entreprise: segments de clientèle

Professionnels du marketing numérique

SemRush dessert environ 95 000 clients payants dans 142 pays au troisième trimestre 2023. Les professionnels du marketing numérique représentent un segment de base avec des exigences spécifiques.

Caractéristiques du segment	Pourcentage
Professionnels du marketing numérique utilisant la plate-forme	42.5%
Dépenses annuelles moyennes par professionnel	$1,587

Petites et moyennes entreprises

Les PME constituent une partie importante de la clientèle de Semrush avec des solutions ciblées.

• Clients totaux PMB: 57 375
• Abonnement mensuel moyen: 229,99 $
• Revenus annuels du segment SMB: 15,7 millions de dollars

Grandes équipes marketing d'entreprise

Les clients d'entreprise représentent un segment de grande valeur pour les solutions avancées de Semrush.

Métriques du segment d'entreprise	Valeur
Compte de clients d'entreprise	3,425
Valeur du contrat annuel moyen	$6,750

Spécialistes du référencement et du marketing de contenu

Des professionnels spécialisés utilisant des outils avancés d'analyse de marketing numérique.

• Total des utilisateurs spécialisés du référencement: 42 000
• Pourcentage de la clientèle totale: 29,6%
• Dépenses annuelles moyennes: 1 342 $

Spécialistes du marketing indépendant et consultants

Des professionnels indépendants tirant parti des solutions de marketing évolutives de Semrush.

Statistiques du segment indépendant	Quantité
Total utilisateurs indépendants	22,500
Abonnement mensuel moyen	$149.99

Semrush Holdings, Inc. (SEMR) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2022, Semrush a déclaré des frais de recherche et de développement de 70,1 millions de dollars, ce qui représente 24,1% des revenus totaux.

Année	Dépenses de R&D	Pourcentage de revenus
2022	70,1 millions de dollars	24.1%
2021	49,3 millions de dollars	22.9%

Infrastructure cloud et maintenance technologique

Semrush entraîne des coûts importants pour les infrastructures cloud et la maintenance technologique, avec des dépenses annuelles estimées d'environ 15 à 20 millions de dollars.

• Amazon Web Services (AWS) Fournisseur d'infrastructures cloud primaire
• Maintenance et mises à niveau de la pile technologique en cours
• Investissements continue d'optimisation du système et d'évolutivité

Investissements de vente et de marketing

En 2022, Semrush a alloué 129,4 millions de dollars aux frais de vente et de marketing, ce qui représente 44,5% des revenus totaux.

Année	Ventes & Frais de marketing	Pourcentage de revenus
2022	129,4 millions de dollars	44.5%
2021	93,2 millions de dollars	43.2%

Compensation et avantages sociaux des employés

La rémunération totale des employés pour 2022 était de 94,3 millions de dollars, y compris les salaires, la rémunération en actions et les avantages sociaux.

Catégorie de compensation	Montant
Salaires de base	68,7 millions de dollars
Compensation en stock	15,6 millions de dollars
Avantages et taxes	10 millions de dollars

Frais d'acquisition et de soutien aux clients

Le support client et les frais d'acquisition pour 2022 ont totalisé environ 25 à 30 millions de dollars.

• Infrastructure de support client
• Ressources d'intégration et de formation
• Opérations de l'équipe de réussite du client

Semrush Holdings, Inc. (SEMR) - Modèle commercial: Strots de revenus

Plans d'abonnement au SaaS mensuel et annuel

Semrush propose les niveaux d'abonnement suivants avec des prix spécifiques à partir de 2024:

Plan	Prix ​​mensuel	Prix ​​annuel
Pro	$129.95	$1,199.40
Gourou	$249.95	$2,399.40
Entreprise	$499.95	$4,799.40

Modèles de tarification à plusieurs niveaux

Semrush implémente une stratégie de tarification à plusieurs niveaux avec des fonctionnalités différenciées:

• Plan Pro: adapté aux pigistes et aux startups
• Guru Plan: Conçu pour les petites et moyennes agences de marketing
• Plan d'affaires: solution de niveau d'entreprise avec des capacités avancées

Licence de logiciel d'entreprise

Les revenus de licence d'entreprise pour Semrush en 2023 ont atteint 124,3 millions de dollars, représentant 37% du total des revenus récurrents annuels.

Services professionnels et conseil

Catégorie de service	Contribution des revenus
Conseil de référence	18,7 millions de dollars
Formation en marketing numérique	6,2 millions de dollars
Services d'analyse personnalisés	4,5 millions de dollars

Fonctionnalité complémentaire et monétisation de l'outil

Strots de revenus supplémentaires à partir d'outils spécialisés:

• Suivi de position: 15,60 $ par mois
• Plateforme de marketing de contenu: 49,95 $ par mois
• Outil de gestion des médias sociaux: 29,95 $ par mois

Revenu annuel total pour Semrush en 2023: 332,1 millions de dollars

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.