Semrush Holdings, Inc. (NYSE:SEMR) Q1 2024 Earnings Call Transcript

Oleg Shchegolev: I see. Yes, good question. We are not expecting a significant change. So we’ve been talking about our investments in enterprise are being funded by the efficiencies we’re seeing in SMB and mid market. And of course the quantity of SMB and mid market sellers was higher. So now that we’ve been able to take advantage of leveraging AI and automation and really push a lot of the SMB sales through our e-commerce platform and take advantage of the product led growth strategy, we’re able to reinvest back into enterprise. So while we’re investing significantly and making a strong push into the enterprise, you shouldn’t expect to see sales expense from an E to R perspective, or even sales headcount change materially.

Arti Vula: Great. Thank you.

Operator: There are no further questions in the queue at this time. That concludes today’s Q&A Session. I’ll now hand back over to the management team for closing remarks.

Oleg Shchegolev: Thank you all for joining us today. I want to say again, we are very pleased with our execution in the first quarter and strong start to 2024. And we look forward to giving you update on our progress. Thank you.

Operator: That concludes today’s call. You may now disconnect your lines.