Shares of Similarweb Ltd (NYSE: SMWB) rose 11.6% after the company announced it had secured two multi-year enterprise contracts with a combined contract value of approximately $47 million.
The agreements were signed during the second quarter of 2026 and each translates into a seven-figure annual recurring revenue (ARR) commitment that will be recognized over the next three years. Those incremental commitments pushed Similarweb's ARR above the $300 million mark, a milestone the company described as reinforcing its confidence in the 2026 outlook.
Customers named in the announcement were described as AI-driven firms and large global enterprises that are tapping Similarweb's proprietary digital data for strategic decision-making, market intelligence and AI-driven projects. That mix underscores demand for the company's dataset across both technology-focused and enterprise buyers.
"These contracts are a direct reflection of the powerful demand trends we are seeing across our business. Leading AI-driven companies continue to invest in our high-quality digital data to power their models and large enterprises are increasingly recognizing the strategic value our data can generate," said Or Offer, Co-Founder and CEO of Similarweb.
The company said these new deals are separate from, and in addition to, large contracts that had been deferred from the fourth quarter of 2025. The statement noted that one of those deferred large contracts was signed during the first quarter of 2026.
Similarweb reiterated that the newly disclosed agreements further support management's confidence in the full-year 2026 guidance that was first issued with the company's first quarter 2026 financial results on May 13, 2026. The company plans to provide an updated full-year outlook when it reports second quarter 2026 financial results, which are expected in mid-August 2026.
Why this matters - From a product and revenue-recognition perspective, multi-year contracts that are recognized over three years change the near-term revenue cadence but provide longer-term ARR stability. The participation of AI-driven firms highlights the role of high-quality digital data in model training and strategic analytics, while large enterprise adoption signals broader market acceptance of Similarweb's dataset as a strategic asset.
What remains to watch - The company will update guidance with its Q2 results in mid-August 2026, and the timing and recognition of other large, previously deferred contracts could affect revenue timing. For investors and enterprise buyers, the cadence of ARR recognition and the mix between AI-native customers and traditional enterprises will be key metrics to follow.