Financial Highlights - Revenue reached $83.3 million, a 14% year-over-year increase[12, 44] - Annual Recurring Revenue (ARR) grew to $335 million, up 16% year-over-year[12, 44] - The company's Net Retention Rate was 104%, compared to 96% in Q2 2024[12, 44] - Free Cash Flow was $18.2 million, compared to $6.8 million in Q2 2024[12, 44] - Non-GAAP Operating Loss was reduced to $(1.5) million, compared to $(3.7) million in Q2 2024[12, 44] - Cash and investments totaled $288 million[12, 44] Customer Base - The company has 634 customers with ARR greater than or equal to $100,000, a 16% year-over-year increase[13, 44] - Enterprise customers contribute 65% of the company's ARR[13] - 34% of customers are using more than one product[13] Guidance - The company projects Q3 2025 revenue to be between $85 million and $87 million, representing a 13% to 16% year-over-year growth[61] - The company projects full year 2025 revenue to be between $335.2 million and $338.2 million, representing a 12% to 13% year-over-year growth[61]

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 - Fourth quarter revenue was $78 million, up 9% year-over-year [11][50] - Annual recurring revenue (ARR) increased to $312 million, up $13 million from the previous quarter [11][50] - Non-GAAP operating income was $0.2 million, with free cash flow for the year at almost $12 million [11][54] - Gross margin for Q4 was 77%, consistent with Q4 2023 [52][120] - Net income per share was $0.02 based on 135.7 million diluted shares, compared to $0.04 with 129.2 million diluted shares a year ago [54][122] Business Line Data and Key Metrics Changes - Customers with more than $100,000 in ARR grew to 591, an increase of 16% year-over-year [11][51] - In-period net revenue retention (NRR) was 100%, a 2-point increase sequentially, while trailing 12-month NRR was 97% [51][119] - 67% of new land ARR in targeted accounts came from multi-product deals, indicating a strong cross-sell opportunity [30][97] Market Data and Key Metrics Changes - The macro environment remains challenging, particularly for new logos, but churn rates are stabilizing [40][109] - The company is focused on larger enterprises, defined as those with over 1,000 employees or generating over $100 million in revenue [44][113] Company Strategy and Development Direction - The company aims to build an extensible platform that allows customers to create mission-critical workflows [44][112] - 2025 is positioned as the year of the Amplitude platform, emphasizing integrated solutions over standalone products [12][78] - A new strategic enterprise accounts team has been created to focus on top customers and prospects, enhancing relationships and driving higher gross bookings [27][95] Management's Comments on Operating Environment and Future Outlook - Management expects continued pressure in the lower end of the market but is optimistic about improving churn rates [40][109] - The company plans to reinvest in its platform opportunity and is confident in its ability to build a durable growth model [56][126] - For Q1 2025, revenue is expected to be between $78.5 million and $80.5 million, representing an annual growth rate of 10% at the midpoint [57][125] Other Important Information - The company launched new products, including Guides and Surveys, just four months after acquiring Command AI, indicating a strong pace of innovation [20][87] - The company is seeing strong demand for its new products, with record-breaking sign-ups on launch day [92][91] Q&A Session Summary Question: What drove the increase in net new ARR? - The increase in net new ARR is attributed to a focus on enterprise coverage and the maturation of sales cycles, with a component of ARR from Command AI contributing approximately $2 million [61][63][62] Question: What is the potential for cross-sell with Command AI? - The early feedback on the Guides and Surveys product indicates a compelling upsell opportunity, with expectations of a 20% to 50% uplift on analytics contracts [64][66][68]