SEMrush Holdings (SEMR) Cost of Revenue (2020 - 2025)

SEMrush Holdings has reported Cost of Revenue for 6 years, with the latest figure at $23.1 million in Q4 2025.

• For the quarter ending Q4 2025, Cost of Revenue rose 159.05% year-over-year to $23.1 million; the trailing twelve-month figure through Dec 2025 stood at $129.9 million (up 98.34% YoY), and the FY2025 full-year result was $86.3 million, up 31.81% from the prior year.
• Cost of Revenue for Q4 2025 stood at $23.1 million, down from $44.3 million in the prior quarter.
• The five-year high for Cost of Revenue was $90.3 million in Q4 2022, with the low at -$43.5 million in Q4 2023.
• Historically, Cost of Revenue has averaged $24.1 million across 5 years, with a median of $30.2 million in 2023.
• Annual changes were most pronounced in 2021 — Cost of Revenue jumped 241.74% — and 2023, when it slumped 148.17%.
• SEMrush Holdings' Cost of Revenue stood at $50.7 million in 2021, then soared by 77.93% to $90.3 million in 2022, then tumbled by 148.17% to -$43.5 million in 2023, then increased by 10.04% to -$39.1 million in 2024, then soared by 159.05% to $23.1 million in 2025.
• The last three Cost of Revenue figures came in at $23.1 million (Q4 2025), $44.3 million (Q3 2025), and $21.1 million (Q2 2025), per Business Quant data.