Amplitude, Inc. Q4 FY2024 earnings call

• Q4 outperformed with strong revenue growth and ARR increase. - 2025 is the year of the platform, focusing on trusted data, analytics, session replay, experimentation, guides, and surveys. - Launched new products like Guides and Surveys quickly after acquiring Command AI. - Made platform improvements including enterprise-grade features, Amplitude Made Easy, and Snowflake Native Amplitude. - Created a strategic enterprise accounts team, nurtured executive relationships, and built enterprise sales capacity. - Highlighted customer stories such as Mercado Libre leveraging Amplitude's platform.

Fourth quarter revenue was $78 million, up 9% year-over-year. Annual recurring revenue was $312 million, an increase of $13 million from the previous quarter. Non-GAAP operating income was $0.2 million. Customers with more than $100,000 in ARR grew to 591, a 16% year-over-year increase. In 2024, Amplitude exited the year with over $299 million in revenue, grew ARR by more than 10%, and generated almost $12 million in free cash flow.

• Q1 2025 revenue expected between $78.5 million and $80.5 million. Non-GAAP operating loss expected between negative $5.5 million and negative $3.5 million. Non-GAAP net income per share expected between negative $0.3 and negative $0.1. - Full year 2025 revenue expected between $325 million and $331 million. Non-GAAP operating income expected between negative $3.5 million and positive $4.5 million. Non-GAAP net income per share expected between $0.5 and $0.10.

• Macro environment remains challenging with continued pressure in the lower end of the market. - Key accounts need to be watched for potential churn, including rightsizing of large contracts and down market customers.

Q: Net new ARR on an absolute basis was the highest in two years. What drove that?

A: Focus on enterprise coverage, with approximately $2 million from the Command AI acquisition.

Q: Feedback on Guides and Surveys product?

A: Early strong demand, with potential 20%-50% uplift on top of analytics contract.

Q: Sales capacity and go-to-market strategy?

A: Re-segmented business, built out enterprise sales capacity, with changes in sales processes and coverage.

Q: Role of AI in product analytics?

A: Launching an Amplitude agent to drive automated insights and action in the second half.

Q: Revenue growth shape and North America vs international?

A: Classic enterprise software linearity with Q4 typically strongest. No significant bifurcation between North America and international.

Q: Net new enterprise lands and expansion cadences?

A: Record net new enterprise lands in Q4, with potential for expansion as customers understand platform value.

Q: Momentum of newer products and key accounts churn?

A: New products drive incremental opportunities but guidance not broken down by product. Key accounts watched for contraction, with most rightsizing issues past.

Q: Integrations and R&D for enterprise?

A: Focus on data access controls, role-based access controls, data mutability, and custom data source integrations.

Q: Guidance philosophy and cross sell of single-product customers?

A: Guidance predicated on growth with leverage. Biggest hurdle for multiproduct adoption is educating existing customers on platform value, with new incentives and training in place.

Q: Google Analytics migration and margin investment?

A: Continued tailwind from Google Analytics migration, with marketing analytics announcements in Q2. Margin investment based on productivity indicators.