Similarweb Reports Strong Q2 Earnings and AI Growth
Similarweb delivered its strongest quarter in company history for net new annual recurring revenue (ARR) during the second quarter of fiscal year 2026. The firm reported positive GAAP operating profit for the first time, with gross retention rates showing significant improvement. CEO Or Offer highlighted that AI-related revenue now accounts for 13% of total revenue and is expected to grow further as demand from leading AI companies increases. The company signed three large multiyear enterprise contracts totaling over $60 million in contract value during the quarter. CFO Ran Vered noted that Similarweb exceeded expectations on both revenue and operating profit, prompting a second upward revision of full-year guidance this year. The firm is also strengthening its data infrastructure to capitalize on AI opportunities. Similarweb's performance reflects progress across key strategic priorities: enhancing its digital data moat, deepening enterprise relationships, and positioning for growth in the AI ecosystem.
