Core Insights - Amplitude's stock price increased by 35% in May, driven by a strong first-quarter earnings report and positive macroeconomic conditions [2][4] - The company reported a 10% revenue growth to $80 million, surpassing estimates, and achieved break-even adjusted earnings per share [5] - Amplitude's upcoming AI agent launch on June 10 is anticipated to enhance its competitive position [9] Financial Performance - Revenue for the quarter rose to $80 million, slightly above the estimated $79.76 million [5] - Remaining performance obligations (RPO) increased by 30% to $325.9 million, indicating longer customer contracts and increased confidence [5] - The company is targeting full-year revenue between $329 million and $333 million, reflecting a 10.6% increase at the midpoint [9] Market Dynamics - Amplitude's stock surged 19% on May 8 following the earnings report, indicating strong market reaction [4] - The stock gained an additional 13% on May 12 after the U.S. and China agreed to lower tariff rates, which positively impacts the overall economic outlook [7] - The broader recovery in the stock market, alongside fading recession fears, has contributed to Amplitude's stock performance [1][2] Product Development - Amplitude has introduced new features such as Session Replay and Guides & Surveys, enhancing its product analytics platform [6] - The upcoming AI agent is expected to be a significant development for the company, potentially differentiating it from competitors [9] - The company is experiencing traction with its customer base and product suite post-pandemic, with a large addressable market still available [10]

Financial Data and Key Metrics Changes - The first quarter revenue was $80 million, up 10% year over year and 2% quarter over quarter [5][32] - Annual recurring revenue (ARR) increased to $320 million, up 12% year over year and $8 million sequentially [5][32] - Non-GAAP operating loss was $2.1 million, approximately $2.4 million better than the midpoint of guidance [6][35] - Dollar-based net retention (NRR) reached 101% in Q1, up five points from its lowest level in Q2 of the previous year [9][33] - Gross margin was 77%, consistent with the previous quarter [34] Business Line Data and Key Metrics Changes - Customers with more than $100,000 in ARR grew to 617, an increase of 18% year over year [6][33] - Multiproduct customers now make up 30% of the installed base and 64% of total ARR [7][9] - The company is focusing on enterprise customers, with almost two-thirds of ARR coming from this segment [8][19] Market Data and Key Metrics Changes - The company is seeing strong enterprise momentum, landing new customers like Hertz and The Economist Group [8][19] - Total remaining performance obligations (RPO) accelerated to 30% growth year over year, while long-term RPO accelerated to 72% growth year over year [26] Company Strategy and Development Direction - The company is positioning itself as a complete end-to-end digital analytics platform for enterprises, aiming to replace point solutions [24] - A new strategic enterprise accounts team has been created to focus on the top 30 customers and prospects [9][19] - The company is emphasizing product innovation, with recent launches including Guides and Surveys, which have seen strong adoption [10][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the macroeconomic challenges but remains focused on helping customers derive value from the platform [10][37] - The company expects revenues for Q2 2025 to be between $80.3 million and $82.3 million, representing an annual growth rate of 11% at the midpoint [38] - For the full year 2025, revenue expectations have been raised to between $329 million and $333 million, reflecting a 10.5% annual growth rate at the midpoint [39] Other Important Information - The board of directors has approved a $50 million share repurchase program to manage future dilution and take advantage of stock price dislocations [39] - The company is focused on operational excellence and building a durable enterprise SaaS business [37][39] Q&A Session Summary Question: Insights on net new ARR metric - Management noted that the increase in net new ARR was driven by improved retention and successful enterprise wins, with a focus on platform capabilities [42][43] Question: Improving market awareness of new products - Management acknowledged the need to educate existing customers about new offerings, emphasizing the transition from an analytics-focused company to a comprehensive platform [46][48] Question: Comparison of new marketing products to previous CDP-related products - Management highlighted that the current marketing analytics capabilities are more robust, allowing for a full switch from competitors like Google Analytics [52][56] Question: Operating leverage in the second half of the year - Management indicated that improvements in gross margins, sales productivity, and operational efficiencies would drive operating leverage [58][60] Question: Budget scrutiny from customers - Management noted that CFOs are increasingly focused on ROI from investments in Amplitude, which is driving the need for greater efficiency and value [96][97]

Amplitude, Inc. (NASDAQ:AMPL) Q4 2024 Earnings Conference Call February 19, 2025 5:00 PM ET Company Participants John Streppa - Head, Investor Relations Spenser Skates - Chief Executive Officer & Co-Founder Andrew Casey - Chief Financial Officer Conference Call Participants Brent Bracelin - Piper Sandler Koji Ikeda - Bank of America Clark Wright - DA Davidson Kyle Diehl - KeyBanc Nick Altmann - Scotiabank Taylor McGinnis - UBS Ashley Kim - Citi Arjun Bhatia - William Blair Rob Oliver - Baird Elizabeth Porte ...