The company entered into an Agreement and Plan of Merger with Adobe Inc. on November 18, 2025, under which it will be acquired for $12.00 per share in cash. Revenue for the year ended December 31, 2025, increased by 18% to $443.6 million, up from $376.8 million in 2024. The company reported a net loss of $19.5 million for 2025, a significant decrease from a net income of $7.4 million in 2024. Annual Recurring Revenue (ARR) grew to $471.4 million as of December 31, 2025, from $411.6 million as of December 31, 2024. The number of paying customers decreased by approximately 9,000 to 108,000 as of December 31, 2025, from 117,000 in 2024, primarily due to softness in the lower end of the market. ARR per paying customer increased to $4,369 as of December 31, 2025, from $3,522 as of December 31, 2024, driven by upsell activity and adoption of AI products. The dollar-based net revenue retention rate decreased to 104% as of December 31, 2025, from 106% as of December 31, 2024. Research and development expenses increased by $17.1 million to $97.2 million in 2025, reflecting continued investment in AI-specific products and platform enhancements. Sales and marketing expenses increased by $32.3 million to $176.6 million in 2025, primarily due to higher personnel costs and advertising. General and administrative expenses increased by $27.8 million to $106.4 million in 2025, partly driven by professional service costs related to the Adobe merger. Free cash flow for 2025 was $42.9 million, an increase from $35.3 million in 2024. Cash and cash equivalents significantly increased to $264.3 million as of December 31, 2025, from $48.9 million in 2024. The company launched an expanded suite of generative AI products, including the AI Visibility Toolkit and Enterprise AIO, with AI products surpassing $38 million in ARR in 2025. Enterprise platform ARR grew to $37 million in 2025. Semrush One, a flagship visibility intelligence solution integrating SEO and advanced AI search tracking, was introduced in October 2025.