10-Q Filing

SEMRUSH HOLDINGS, INC. CIK: 1831840 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001831840-21-000009`
Period End Date	20210331
Filing Date	20210511
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	semr-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 34 Cash Flow Statement 59 Stockholders Equity 20

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$171.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.53M	USD	Point-in-time
Redeemable convertible preferred stock, authorized (shares)	`TemporaryEquitySharesAuthorized`	9.90M	shares	Point-in-time
Accounts receivable	`AccountsNotesAndLoansReceivableNetCurrent`	$2.38M	USD	Point-in-time
Accounts receivable	`AccountsNotesAndLoansReceivableNetCurrent`	$1.40M	USD	Point-in-time
Deferred contract costs, current portion	`CapitalizedContractCostNetCurrent`	$4.05M	USD	Point-in-time
Deferred contract costs, current portion	`CapitalizedContractCostNetCurrent`	$4.82M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.65M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.63M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$43.63M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$182.69M	USD	Point-in-time
Preferred stock, par value (usd per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, authorized (shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.88M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.97M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.23M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.18M	USD	Point-in-time
Goodwill	`Goodwill`	$1.99M	USD	Point-in-time
Goodwill	`Goodwill`	$1.99M	USD	Point-in-time
Deferred contract costs, net of current portion	`CapitalizedContractCostNetNoncurrent`	$2.00M	USD	Point-in-time
Deferred contract costs, net of current portion	`CapitalizedContractCostNetNoncurrent`	$1.67M	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.13M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.47M	USD	Point-in-time
Common stock, authorized (shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Total assets	`Assets`	$193.87M	USD	Point-in-time
Common stock, authorized (shares)	`CommonStockSharesAuthorized`	0.00	shares	Point-in-time
Total assets	`Assets`	$54.96M	USD	Point-in-time
Common stock, issued (shares)	`CommonStockSharesIssued`	95.21M	shares	Point-in-time
Common stock, issued (shares)	`CommonStockSharesIssued`	0.00	shares	Point-in-time
Common stock, outstanding (shares)	`CommonStockSharesOutstanding`	95.05M	shares	Point-in-time
Common stock, outstanding (shares)	`CommonStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.65M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.72M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$10.29M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$32.08M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$26.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$42.91M	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$181.00K	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$123.00K	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$209.00K	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$153.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.02M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$497.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$43.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$53.95M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	-	USD	Point-in-time
Common stock	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$174.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-35.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.34M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$139.91M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.88M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-6.84M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-1.16M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock, and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$54.96M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock, and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$193.87M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$27.79M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$40.00M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$6.61M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$8.77M	USD	1 Quarter
Gross profit	`GrossProfit`	$31.23M	USD	1 Quarter
Gross profit	`GrossProfit`	$21.18M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$16.46M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$12.88M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.24M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.36M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.90M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.93M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.05M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$29.72M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.51M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.87M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$51.00K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$56.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.81M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.56M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$86.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$116.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$1.47M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.93M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.93M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.47M	USD	1 Quarter
Basic (usd per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic (usd per share)	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Diluted (usd per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted (usd per share)	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	96.38M	shares	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	94.59M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	131.36M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	94.59M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.93M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.47M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$232.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$460.00K	USD	1 Quarter
Amortization of deferred contract costs	`CapitalizedContractCostAmortization`	$1.10M	USD	1 Quarter
Amortization of deferred contract costs	`CapitalizedContractCostAmortization`	$1.32M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$593.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$205.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxesAndTaxCredits`	$-57.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxesAndTaxCredits`	$-56.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$985.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-745.00K	USD	1 Quarter
Deferred contract costs	`IncreaseDecreaseInContractWithCustomerAsset`	$2.42M	USD	1 Quarter
Deferred contract costs	`IncreaseDecreaseInContractWithCustomerAsset`	$1.70M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$976.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$747.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.58M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$58.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.42M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.00M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$5.60M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$1.65M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.01M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$561.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.08M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$166.00K	USD	1 Quarter
Purchases of convertible debt securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$500.00K	USD	Point-in-time
Purchases of convertible debt securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$500.00K	USD	1 Quarter
Purchases of convertible debt securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Capitalization of internal-use software development costs	`PaymentsToDevelopSoftware`	$297.00K	USD	1 Quarter
Capitalization of internal-use software development costs	`PaymentsToDevelopSoftware`	$123.00K	USD	1 Quarter
Cash paid for acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash paid for acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$350.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.14M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.38M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.00K	USD	1 Quarter
Net proceeds from completing initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$128.46M	USD	1 Quarter
Net proceeds from completing initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	1 Quarter
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$16.00K	USD	1 Quarter
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$128.47M	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$136.34M	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-836.00K	USD	1 Quarter
Cash, cash equivalents and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$171.96M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$37.52M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.62M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.69M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$171.96M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$37.52M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.62M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.69M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$158.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$154.00K	USD	1 Quarter
Deferred offering costs incurred and not paid	`DeferredOfferingCostsIncurredButNotYetPaid`	$1.84M	USD	1 Quarter
Deferred offering costs incurred and not paid	`DeferredOfferingCostsIncurredButNotYetPaid`	-	USD	1 Quarter
Acquisition of fixed asset under capital lease	`CapitalLeaseObligationsIncurred`	$1.02M	USD	1 Quarter
Acquisition of fixed asset under capital lease	`CapitalLeaseObligationsIncurred`	-	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Issuance costs	`PaymentsOfStockIssuanceCosts`	$16.00K	USD	1 Quarter
Issuance costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Beginning balance	`StockholdersEquity`	$139.91M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-2.88M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-6.84M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-1.16M	USD	Point-in-time
Conversion of Preferred Stock (in shares)	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	29.70M	shares	Point-in-time
Conversion of Preferred Stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$18.06M	USD	1 Quarter
Issuance of Class A Common Stock in connection with the initial public offering, net of $13,378 in issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$126.62M	USD	1 Quarter
Reclassification of Common Stock to Class B Common Stock in connection with the initial public offering	`StockIssuedDuringPeriodValueReclassificationOfShares`	-	USD	1 Quarter
Stock-based compensation expense (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	3,861.00	shares	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$7.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$205.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$593.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.93M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$1.47M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$139.91M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-2.88M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-6.84M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-1.16M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.