Amplitude(US:AMPL)2025-08-06 22:52PART I. FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) Amplitude, Inc.'s unaudited financial statements detail asset and liability changes, revenue growth, and net loss for the period ended June 30, 2025 Condensed Consolidated Balance Sheets The balance sheets show total assets and liabilities increased by June 30, 2025, while total stockholders' equity decreased, reflecting the period's net loss Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Assets | $456,610 | $445,911 | | Cash and cash equivalents | $119,656 | $171,678 | | Total current assets | $286,792 | $303,631 | | Total Liabilities | $177,106 | $149,355 | | Deferred revenue | $136,659 | $109,671 | | Total current liabilities | $171,476 | $144,513 | | Total Stockholders' Equity | $279,504 | $296,556 | Condensed Consolidated Statements of Operations and Comprehensive Loss For the three and six months ended June 30, 2025, revenue increased, but net loss widened for both periods Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $83,270 | $73,300 | $163,223 | $145,924 | | Gross Profit | $60,458 | $53,815 | $120,207 | $107,550 | | Total Operating Expenses | $87,552 | $80,975 | $171,499 | $159,415 | | Net Loss | $(24,668) | $(23,415) | $(46,899) | $(44,875) | | Net Loss Per Share | $(0.19) | $(0.19) | $(0.36) | $(0.37) | Condensed Consolidated Statements of Cash Flows Net cash provided by operating activities increased for the six months ended June 30, 2025, while investing and financing activities used more cash Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $12,032 | $9,180 | | Net cash provided by (used in) investing activities | $(44,995) | $35,671 | | Net cash provided by (used in) financing activities | $(19,052) | $(10,997) | | Net decrease in cash, cash equivalents, and restricted cash | $(52,015) | $33,854 | Notes to Condensed Consolidated Financial Statements These notes detail accounting policies, a significant increase in remaining performance obligations, a share repurchase program, and a subsequent acquisition - The company's business model is providing a Digital Analytics Platform as a subscription service (SaaS)33 Remaining Performance Obligations (in thousands) | Period | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Less than or equal to 12 months | $248,520 | $223,320 | | Greater than 12 months | $109,574 | $85,315 | | Total | $358,094 | $308,635 | - On May 6, 2025, the Board approved a share repurchase program authorizing up to $50.0 million of the company's Class A common stock83 - Subsequent to the quarter end, on July 3, 2025, the company acquired Kraftful, Inc. for an aggregate purchase price of $3.7 million101 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Management discusses Q2 2025 revenue increase, ARR growth, stable gross margin, increased operating expenses, and the company's solid liquidity position Key Business Metrics as of June 30, | Metric | 2025 | 2024 | YoY Growth | | :--- | :--- | :--- | :--- | | Annual Recurring Revenue (ARR) | $335 million | $290 million | 16% | | Dollar-Based Net Retention Rate (TTM) | 99% | 98% | 1 ppt | | Paying Customers with ARR > $100k | 634 | 547 | 16% | - The company focuses on customer acquisition, AI-led platform investments, and international growth, with recent innovations including Amplitude AI Agents and new marketing capabilities110112114 Q2 2025 vs Q2 2024 Results (in thousands) | Metric | Q2 2025 | Q2 2024 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | $83,270 | $73,300 | $9,970 | 14% | | Cost of Revenue | $22,812 | $19,485 | $3,327 | 17% | | Total Operating Expenses | $87,552 | $80,975 | $6,577 | 8% | - As of June 30, 2025, principal liquidity sources were $119.7 million in cash and equivalents and $167.9 million in marketable securities, deemed sufficient for the next 12 months171172 Item 3. Quantitative and Qualitative Disclosures About Market Risk The company assesses market risks from interest rates and foreign currency, concluding that a hypothetical 10% change would not materially affect financial results - The company's investments are exposed to interest rate fluctuations, but an immediate 10% change in rates is not expected to have a material effect on portfolio fair value188 - Operating expenses include foreign currency denominations, but exchange rate fluctuations have not been material, with a hypothetical 10% change in the U.S. dollar not expected to have a material effect189 - Management believes inflation has not had a material effect on the business, financial condition, or results of operations190 Item 4. Controls and Procedures Management concluded the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes in internal control - The Principal Executive Officer and Principal Financial Officer concluded that disclosure controls and procedures were effective as of the period end191 - No material changes in internal control over financial reporting occurred during the most recent fiscal quarter192 PART II. OTHER INFORMATION Item 1. Legal Proceedings This section refers to Note 9 for details on legal proceedings, including dismissed securities class actions and ongoing privacy-related class actions - For details on legal proceedings, the report directs readers to Note 9 of the financial statements195 Item 1A. Risk Factors The company faces risks including a history of net losses, intense competition, reliance on third-party infrastructure, evolving privacy regulations, and concentrated voting power - The company has a history of net losses, reporting $46.9 million for the six months ended June 30, 2025, and an accumulated deficit of $504.7 million, with profitability not guaranteed201 - The digital analytics market is highly competitive, posing risks of reduced sales, lower margins, or financial losses from large companies, in-house systems, and new entrants216217 - A dual-class stock structure concentrates voting control with existing stockholders, executive officers, and directors, limiting Class A stockholders' influence on corporate matters326 - The business is subject to evolving privacy laws like GDPR and CCPA, with non-compliance potentially leading to significant fines, reputational damage, and other liabilities297298301 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds In May 2025, the company repurchased Class A common shares and authorized a new share repurchase program Company Purchases of Equity Securities (Q2 2025) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2025 | — | $— | | May 2025 | 203,921 | $12.44 | | June 2025 | — | $— | | Total | 203,921 | $12.44 | - A new repurchase program for up to $50 million was authorized on May 7, 2025, with no shares repurchased under it as of June 30, 2025363 Item 3. Defaults Upon Senior Securities None Item 4. Mine Safety Disclosures Not Applicable Item 5. Other Information On May 15, 2025, President Thomas Hansen adopted a Rule 10b5-1 trading plan for the potential sale of Class A common shares - Thomas Hansen, President of the Company, adopted a Rule 10b5-1 trading plan on May 15, 2025, for the sale of up to 210,000 shares of Class A common stock366 Item 6. Exhibits This section lists exhibits filed with the Form 10-Q, including corporate governance documents and officer certifications