Similarweb Ltd.

Good day, ladies and gentlemen, and welcome to your SimilarWeb Q2 24 earnings call. All lines have been placed on a listen-only mode, and the floor will be open for questions and comments following the presentation. If you should require assistance throughout the conference, please press star zero to reach a live operator. At this time, it is my pleasure to turn the floor over to your host, Rami Myerson. Sir, the floor is yours.

Thank you, Karen. Welcome, everyone, to our second quarter 2024 earnings conference call. Joining me today are our CEO and co-founder, our author, and our CFO, Jason Schwartz. Yesterday, after market closed, we released our results for the second quarter and published a discussion of our results in a letter to shareholders, as well as an investor presentation with a strategic overview of the business on our investor relations website at ir.similarweb.com. Certain statements made on the call today constitute forward-looking statements, which reflect management's best judgment based on currently available information. These statements involve risks and uncertainties that may cause actual results to differ from our expectations. Please refer to our earnings release and our most recent annual report filed on Form 20F for more information on the risk factors that could cause actual results to differ from our forward-looking statements. Additionally, certain non-GAAP financial measures will be discussed on the call today. Reconciliations, the most directly comparable GAAP financial measures are available in the earnings brief and the earnings presentation. We have decided to shorten our prepared remarks, so we'll begin with all of Jason's highlights of the quarter, and then we'll open the call to questions from self-taught analysts. With that, I'll turn the call over to Paul. Paul, please go ahead.

Thank you, Rami, and welcome everyone joining the call today. Three years after ringing the bell at the New York Stock Exchange following a successful IPO, we are proud that SimilarWeb today is a growing, profitable, and cash-generating company. I'm super excited that this quarter our efforts to accelerate growth were successful. Our growth is primarily driven by improved go-to-market motion and the innovation that we're doing on our R&D side. As a result of those successful efforts, we feel confident in our continuing business growth and we are increasing our outlook for 2024 revenue and non-GAAP operating profits. During the quarter, we were able to upsell and sign the contract with our first eight-figure ARR customer and increase our customer count to more than 5,000 customers. It is great to see the continuing demand for our data from both new and existing customers. Last week, we launched our newest improved version of our digital data estimation. The new version significantly enhance our accuracy and coverage of our data and provide broader insights for more than 30 million new websites that we added to our coverage and many more countries than we had included in our previous data version. We're excited with those new data improvements and the potential that they're bringing. This new improvement will increase our position as the leader in the digital market data, and we already got initially good and positive feedback from our customers. We continue to benefit from the positive tailwind of the AI revolution. As part of their significant investment in AI infrastructure, many large global tech companies are engaging with us to access our digital data to feed their LLM models. Those companies recognize that LLM require high-quality, fresh, and scalable data to generate updated outputs and realize the potential of our data to feed their models. They also recognize that similar web digital data is the most unique and high-quality data source in the market for their models. Some of the world-leading LLMs are already training on similar web data. We believe that there is even more ways similar web can benefit from the AI revolution. We're seeing that many of the large global consumer brands are eager to learn how the new world of AI and chatbot is changing their customer online behaviors. And they are keen to understand how the path to purchase is changing, where consumers are doing their research before making purchase decisions, and how the new AI chatbots are impacting this behavior. This is where our digital consumer data is already providing a range of insights. And I believe that this is a great opportunity that can have a significant potential for similar web as the AI revolution evolves. In July, we acquired 42Metal, a Swiss app intelligent provider, to expand our app data capabilities in the rapidly growing app market. By combining 42Metal and SimilarWeb, we have expanded our app intelligent offering across app store data, app engagement, and app SDK data. We can now provide enhanced insights for the app developer and brand into the performance of their own app versus of their competitor and their markets. We are also going to add the desired market data to enrich all of our other solutions that will benefit from the combination of having web and app data in one platform. We would like to welcome the 42Metals team to the similar web and look forward to working together to build the number one global app intelligent provider. I want to thank the whole team for another successful quarter of excellent results and growing execution. We believe that we are still only starting to realize the potential of our data and the addressable market we serve. And as I like to say, we are just getting started. Thank you, everyone, for joining the call today and continue your support. With that, I will turn the call over to Jason. Jason.