Amplitude, Inc. Q1 FY2025 earnings call

First, Q1 results: Exceeded revenue and operating loss guidance; revenue $80M, up 10% YOY; ARR $320M, up 12% YOY; non-GAAP operating loss $2.1M. Second, platform strategy and enterprise focus: Growing through platform deals, enterprise momentum with customers like Hertz and The Economist Group; 64% of ARR from enterprise customers; new strategic enterprise accounts team. Third, product innovation: Guides and Surveys saw strong adoption; launched self-serve data deletion, heat maps, etc.; upcoming marketing updates and partnership with Twilio; Amplitude Agents closed beta in June. Fourth, customer stories: Examples like The Economist Group, Syngenta, Joe & the Juice leveraging Amplitude's platform.

First quarter revenue was $80 million, up 10% year-over-year. Annual recurring revenue (ARR) was $320 million, up 12% year-over-year and up $8 million from last quarter. Customers with more than $100,000 in ARR grew to 617, an increase of 18% year-over-year. Multi-product customers make up 30% of the installed base and 64% of total ARR.

Second quarter 2025 revenue expected $80.3M - $82.3M (11% midpoint annual growth). Non-GAAP operating loss -$2.9M to -$0.9M; non-GAAP net income per share -$0.01 to $0.01. Full year 2025 revenue raised to $329M - $333M (10.5% midpoint growth). Non-GAAP operating income $0 to $5M; non-GAAP net income per share $0.05 to $0.10. Board approved $50M share repurchase program.

Macro environment remains challenging; buyer scrutiny continues; operational uncertainties related to executing growth strategies and managing churn.

Q: Good question on net new ARR outperformance.

A: Comparison to prior year with less churn, enterprise wins, and broader platform.

Q: Question on market awareness for new products.

A: Need to educate existing customers as they previously viewed Amplitude as an analytics company.

Q: Question on marketing products launch.

A: Marketing analytics is a new focus with capabilities to switch from legacy tools.

Q: Question on CRPO acceleration.

A: Focus on enterprise, longer-term contracts, and multi-product adoption.

Q: Question on guides and surveys adoption.

A: Maturity of the product, competitive displacement, and consolidated pricing.

Q: Question on geo growth.

A: Variation quarter-to-quarter, early growth everywhere but US is most mature.

Q: Question on buyback announcement.

A: Tool to manage dilution and take advantage of stock dislocations.

Q: Question on macro impact.

A: Focus on internal levers to drive growth regardless of macro.

Q: Question on budget scrutiny and cross-selling.

A: Focus on ROI and showing customer value.

Q: Question on NRR and cross-sell.

A: Progressive improvement with sales team ramping and reducing churn.

Q: Question on sales cycles and longer-term contracts.

A: Sales cycles adjusted for enterprise focus on cost predictability.

Q: Question on total customer adds vs $100k ARR adds.

A: Focus on enterprise segment, $100k ARR adds are key metric.