CEO Offer to Leave Thriving Similarweb after 20 Years

Tel Aviv-based market intelligence company Similarweb has initiated a formal search for a new CEO, as part of a planned leadership transition; and announced Q1 revenue up 10% to $73.9 million, while turning a non-GAAP operating loss into a $2.4 million profit.

Similarweb provides software to help clients understand online behavior, including that of visitors to sites similar to their own. In the last two years the firm has acquired Chilean ad intelligence specialist Admetricks and Swiss app intelligence provider 42matters. In February it announced 2025 revenue up 13% to $282.6m; and in March it appointed Harel Beit-On, a member of its Board of Directors since 2017, as Chairman.

CEO Or Offer (pictured) founded Similarweb in 2007 and has informed the Board of his intention to transition out of the CEO role as his second decade completes next May. The leadership transition is expected to be completed by mid-2027, and until then Offer says he will remain 'fully focused' on executing the company's strategy for customers, employees and shareholders. He comments: 'Similarweb has been my life's work. When I started this company nearly twenty years ago, I always believed that the right time to begin planning for the next chapter would be as I approached two decades of leading it. We are about to reach that point, the company is performing strongly and I believe we will have a strong year.'

'Or has built Similarweb into a global category leader with a unique data asset and a strong, durable business,' says Beit-On, 'The Board is grateful for his vision and his continued leadership through this transition. We are fully aligned with Or on the timing and the process, and we are committed to running a thorough, considered search to identify a successor with the experience to lead Similarweb through its next phase of growth and innovation.'

First quarter GAAP loss from operations was $4.4 million or 6% of revenue, compared to $9.3 million or 14% of revenue a year previously. Non-GAAP operating profit was $2.4 million or 3% of revenue, compared to a non-GAAP operating loss of $1.3 million or 2% of revenue in Q1 2025. Similarweb says the number of customers with annual recurring revenue (ARR) of $100,000 or more grew to 461 during the quarter, up 12% versus 31st March 2025. The firm expects total revenue for fiscal year 2026 of between $307.0 million and $315.0 million, the midpoint of which represents around 10% growth.

Web site: www.similarweb.com .