- Earnings call transcript Q3 2022

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Yaoxian Chew

Hello, everyone. Welcome to Amplitude's Third Quarter 2022 Earnings Conference Call. I'm Yaoxian Chew, Vice President of Investor Relations.

Joining me are Spenser Skates, CEO and Co-Founder of Amplitude; and Hoang Vuong, the company's Chief Financial Officer.

During today's call, management will make forward-looking statements, including statements regarding our financial outlook for the fourth quarter and full year 2022, the expected performance of our products, our expected quarterly and long-term growth, investments and our overall future prospects. that are subject current some those to are our statements expectations assumptions, of described looking results beyond are actual and risks control in forward these based materially information, on and which to statements. These differ cause from could and uncertainties forward-looking results reliance cautioned with call and information and the statements statements, Further actual Exchange the on not included obligation is Commission, these by that risks differ on are to except law. Security undue place in these cause you no update assume could to our required we as filings to today's after Certain financial a on measures expressed used today's are basis. call non-GAAP on internal to analysis measures We use financial financial these purposes. of facilitate non-GAAP and planning forecasting and and internally for our business trends should have prepared financial used substitute not These as isolation from information for financial and GAAP. non-GAAP be with measures limitations a or in accordance in financial be GAAP reconciliation our in can which investors.amplitude.com. at non-GAAP between our these release, measures A found Relations is website press included and Investor on earnings I'll With Spenser. call to over the hand that,

Spenser Skates

QX Yao. our tuning revenue, closed $XX.X XX% high the in Good everyone was call. end strong This earnings quarter above in year-over-year. afternoon, with million delivered for our of we guidance. up you, third Amplitude Thank a XXXX

and We the leverage also our are delivering outlook approach. strong raising for disciplined margin our operating year, investment thanks to

XXX%. have than more now X,XXX was We net retention Our dollar-based customers.

time, build you Amplitude For products, companies for growth, first helps their those of categories. and joining the us drive amazing win

product driving and is right lead working, users growth. Nothing are the more into understand With self-service teams the revenue are visibility a outcomes. critical entire where that what journey. digital stuck Amplitude, to what to gives getting We customer digital can are actions platform analytics features

quarter Our land exceptional. land was QX was Amplitude's bookings It performance best history. in our in

New Volkswagen, include Airlines, Amplitude Shell, and Fox Zillow, Volaris customers Ably. Broadcasting,

six-figure large several had wins. also We

with other us more provide that approach self-service means existing their possible is tell were solutions. and better scalable. delivers that insights customers We can not our Our Amplitude ROI than

However, clearly the macroeconomic has environment shifted.

expansion This in XXXX. these quarter to dynamics to persist was expect we and regards churn, more challenging through with

customers to try XXXX pandemic more our provide our success. durable them the macroeconomic highs to with Against ensure sudden from business. the As whiplash will weakness, the this, their the environment Amplitude's will drive navigate how we to work Hoang to details to expectations want current growth will need in for long-term on confident growth digital temper the I'm analytics near-term. for that

level at to approach behavior unique our analytics deeply Our with resonates the customers.

first to the early from growing hear data, We continue companies product in and time, comes are or data vision includes that their them on it sophisticated market. who all in of speak share for the to with only consistently our are When I companies. of gain leaders the there most XX% are leverage way some their at inning. companies the That I technology amplitude. completing data customer X% towards

daily already products. organization of Amplitude Companies helping bread have understanding their few not unable data to Many a we by business of access of the build were product scientists that's common everyone scale. most millions Improving in and [ph] on is lack active active contacts trustworthy and combination familiar culture. at in early new XX,XXX social told in their technology to its spends customers day. still in are XX daily. approach can way entire are users solutions. for This Amplitude data customers, legacy and several result where engineers, from an appropriate This is that Data self-served with with Alexis, enables with means The employees data-driven you the natives digital fortune product, is customers of its your for every run use. up in liars and data of are a your to analytics customer me their helps win on network have decisions category. growth business that CEO app [ph], run stocked blocked their We organizations in-house BeReal, of central growth. data and a signs teams he keep are to tools to of robust that winning up are hours than their frustrating our to analysts. data tedious gives Amplitude's do to build and better rapid data expanded and some growth. see daily We build category they the in an earlier drive software. all initially BeReal’s unique understand tens journey amazing shape spent of who product-led users Yet and Amplitude in work QX months, went experiences. order even enough Almost need a Amplitude teams this thought. part category an

because space, make gets shows of help better. the experience We just the shows Amplitude customer today. with being companies about everyone ship because how this out PixJet don't he we informed out-innovate expanded our how XX users work more will helping us improve in needs. fundraising, BeReal’s Amplitude They're so aimed Amplitude their new it of is faster. a work fanatical is. our of more with create dashboard Companies instead team habit. use than an decisions because standard of For product We They quickly more of and at product where product the all engaging at are features to QX. and released responsive in daily product

the analytics. about excited their brings this most behavior teams Amplitude product and systems, to I'm different and Typically, level lets together for combinations a cohesively. analyze performance SKU This features opportunities down the is and in purchase user's behavior cross-sells. card discover of One product

we These to Slack collaboration great day. leading benefit us tables, all already And has every analytics about type all the We experiences. key Miro with Amplitude. This with with users out-of-the-box integrations We're from features users are our first-to-market making of become live give anyone multidimensional talked updates innovation. better tools top of for digital which most used a quarter bring five example vendor starter last metrics, is also to the this templates of in about Data only launched new in and dashboard Amplitude. the one that easy analysis. a

Finally, we're also doubling down on and our core analytics. product

First, and we're to investing Amplitude's design extend accessibility. of user and experience in use ease

and and solution, essential new potential to alike. platform. goal product Our number user has investments analytics leaders data, be technical the digital regardless These We walk Amplitude's run everyone with our to able will growth ranked help been always know-how. for of one to make want platform engineering product, analytics then every crawl,

customers engineering cost-effective extend Second, in economic track significant our to customers cost our manner. We cost desire investments advantage more we're help and environment data to hear cost-conscious in making large our effectively peers. structural track a volumes data a concerns and of over

get greater this more It's We confidence more well-exceeded and local make of is includes evaluation improve track support and Experiment cases better to which approach innovation this more means help and important to too remove platform to customers’ spend still low-latency real-time by our Amplitude and easier for test our Amplitude valuable. for with with went and are give early better durations, continued scale. transparency investing GA to Amplitude innovation. product for use an make believe running We now also has you more internal results. but usage to expectations. value and August our to at specifics, proposition end will CDP, duplicative part up CDP customers, monitoring it outcomes, even will drive of approach, combined customers. tests performance the better

fourth strong see categories for Experience in in Gartner's and Fall for number ninth report, external quarter to one a app validation We analytics for were analytics one Report ranked mobile GX number row XXXX Amplitude for and the leading including position mentioned in a row. Customer in product nine in the market. quarter continue in We Hype Amplitude's number in in the the one Cycle Analytics

Amplitude marketing insights number report. data in a seventh leader as We also for stack category in analytics the Snowflake's recognized quarter ranked also digital in was modern inaugural three row. analytics and an

hundreds driving in we'll Snowflake We to and deepening focus significant on our of joint be continuing this have customers value integrations, partnership.

experienced continues Our leadership. go-to-market with evolution new

to to she our Chief Collibra CMO CMO SAP Officer. Ariba evolution, track Tifenn Tifenn amazing new of SAP Fieldglass. Dropbox and was Marketing leader for Tifenn previously I record on expanding excited this thrilled held her at numerous as for including welcome and a pipeline We Board. leadership the growth, at marketing have has for As she Dano and strong right Kwan, I'm knew was Amplitude SAP, teams. am product-led an and roles building driving because

can detailed sales hygiene, inspections including operating engagement focused add improving on all accurate are a world-class so they and our forecasting, that As top this better team muscles quarterly and that enablement, to approaches we is with continue improved accounts are we're and pipeline our accountability cadence, value-based to more results the I'm execution across of we go-to-market delivered go-to-market, efforts the building leadership, match These progress pleased the and selling. quarter. with making product. strategy

us ingredients have our in catalyzed to path We'll changes not Google and there. invest continue our here quarter place, we grow to While get the many were deals by in greatness will organization be in of overnight. of Numerous this Analytics. done

critical means growth our and other data and which amplitude's think in is layer high growth more to Technologically, we its on We Analytics, our Google companies always distributed customer workflows. felt ensures move infrastructure to joints. the data This can't, only what also marketing superior deliver on can focus comes ways entire the from most on over. Amplitude quality. unifies propriety that as in, This journey. insights easily focuses us insights perform into it's customer behavioral allows is the core, important that drive database clarify why stays systems product At give calling workflows. complex we I is different

we better Amplitude users take making action in these experimentation insights, Our product Customers have have on then for activation. data who customers also casual moved and us expert usability. and data-driven significant edge can through collaboration audience decisions works analysts tell and a better alike.

encouraging. business New remain trends

to product ROI on Data continues opportunity While there a analytics spectrum a on and buying and is IT analytics of There's the set widening to appreciation competitive amplitudes scrutiny as continue greater must-have. of replacements. high seen for unmatched growing be rank prioritization. decisions,

Holiday Inn lands Teladoc, H-E-B Vacations mentioned addition some wins Club and other the Grocery. In to QX of I big include earlier,

drove customer miro, customer a wins. notable had that show stories what also third BeReal, to going expansions the maxrewards quarter QX, these from including I'm in and We AllTrails. of share some few NerdWallet,

Zillow up years, real of with report big After and analytics One most achieve solution team This to using and page-based excited website online to estate the a work the Zillow better I'm visited for offline the Amplitude in QX full about journey. measure is decided sets most customer Zillow, goals. the two United wins States. to the

First, sequel questions and XXX members having the building for culture for years. an to data-driven that them. scientist Amplitude answer to With will has or without for marketing dat a be critical right team been expand answer get and ask over having a to without to wait product able

app a now, home. where trends, what to website that apps, Second, A charging and drove stuck. using getting buying experience outcomes of of a to Group, rates. for data-driven Amplitude surface for team uses and customer adjusted white product connector working will its subscription. apps. more Eli were rates, With team experience establish app a holistic free-to-pay Amplitude, strategy with and or user make started Zillow and to at instant popular the drivers with its increase three the to team Brainly the million continue in Brainly, with part its Amplitude world users five track understanding who this to this Eli, QX, Volkswagen the most user electric and wants With started as more that app a a far validate dealers. ultimately features the answers used conversions. journey insight to times in education of the With than accessible Brainly discovered are management Analytics Amplitude a has creating product what working XXX a to subscription were buy mind, feature able to innovate. In little the more likely Eli cross-platform features transaction. users want feature year. Until a result, features be to team energy least customers working and know label were car more how journey, conversion people is will customer view connect make the specific those increased a They help hypotheses Zillow them last

had to analyze team faster culture now work pace. much a has include Now, its be Brainly is and able always set teams us product Amplitude to test with outcomes at experiment. its up non-technical His of expanding a experimentation, but will

be as Amplitude. will near While for I term, incredible it the time challenging opportunity view this an for

better platform getting Our digital analytics is every day.

earlier We we our markets. than are in even thought

do Our up term, want for and us play to the flexibility long to more customers love with over the offense to and set success. have long-term us us we

a becoming our more have the XXX set We company done biggest in announced one than of in since lot and public. customers won We've product year new history. launches

We are investing our people. in

year trumps day month, all-hands, We are and them of most what What sustainable, stay asked growth. At our for long long-term month building setting recent after persistence day, I foundation something success. year. world-class team I a else. everything is are after that get company after we team, the important durable How you the a is determinant told

ago, at in work eventful We've at Amplitude. you company be our been to lens, for walk Hoang I Amplitude through I'd in it's Thank the and While results. it for started to been at to an decade now financial has founding. it expect work public hard since this like to also XX turn over interest the to hard an been years since year decades we here your come. eventful

Hoang Vuong

Thanks, everyone thanks again today. joining for Spenser, and us to

differentiation also We're in did $XX.X numerous In Dollar-based more was count the XXXX up excited We product incumbent showing thanks started and Google customers categories. best XX% signed quarters in our driving superior signing Customer an of large build as goal longer that was help win and go-to-market Amplitude ever. strong was revenue with multiyear amazing product attacking our deals, highlighting deliver quarter, year-over-year We land position reflects growth They had to contracts It also a and quarter the X,XXX. worth million, to lands to how Third to net booking QX third than our teams. and see customer our year-over-year. our products. products, execution up mentioning retention tremendous drive deals. one-quarter job is XXX%. XX% more term and solution. Analytics a of new large competitive

businesses milestone our year. especially both the in elevated. QX. we $XX to and business new the mentioned strong environment. impact crossed headwinds, economy to in one and Expansion potential past ARR due following If near-term million in budget factors were customers churn bookings saw also We significant execution last or earnings expected than as higher We rightsize not a changed. as of partial our is some in in from pay lighter have the strategy, our customer slowed experiment products headwinds during validation were the unable from This budget we small saw We utilization. growth macro of of specific and and look just and scrutiny churn this our who increase our call, remained

base, leadership in and We early existing customer continue and will under-penetrated expand world, around our customers extend an acquire our work across new market. to the to product

that navigate continue environment this even to We out stronger. and we can come are confident

or and XX% for and QX long-term International We’re seeing position from business to the increased win revenue revenue. in category. prior revenue to million year-over-year Geographically, of digital total managing XX% We're stay of $XX.X sustainable $XX.X analytics investments in revenue. growth. a results from the the increased US XX% total or aggressive XX% to million great

XX% total Total so up new strength have but of year-over-year a we increased impact in $XXX.X year-over-year. primarily $XXX.X RPO up have does negative As Current RPO increased to a dollar, business. dollar or million, revenue, does reminder, the RPO. million, on approximately invoiced FX US impact also on XX% an not it the XX% of

Our steady in from RPO increase deal. benefited a in multiyear strong growth

non-GAAP Next, I'll discussing forward. going for be QX results

year-over-year. our our As to quarter basis and GAAP was a upside our We achieving with credit this points website. along hosting XXX results can IR in reminder, earnings on be GAAP financial between than us Gross press non-GAAP and up saw XX%, results, with supplemental another more release gross our reconciliation provider. financials margin from found margin

to the to to range in the operate expect near-term. XX% continue of XX% in We

in revenue, XX% XXXX. revenue, in operating the in to Sales XX% revenue R&D QX of was Turning expenses XX% compared XXXX. XX% to QX and expense of to of revenue of compared marketing was expense quarter.

all at continue As for. to more that planned planned, pace had we we hire then the across measured

equivalents discipline $X.X $X.XX of XXX X%, negative strong million Our Cash, million negative delivered the This Net million compared XXXX. our a XX.X or million treasury shares, end revenue operating includes negative $XX.X of $X.X The based of were million of an $X.X X%, year cash was of guidance as period. year XX% cash QX shares bonds, and in flow compared X% classified in ago. loss non-current. XX% a loss or of the beating negative U.S. was to revenue, at marketable negative negative to $XX.X a negative securities $X.XX now or XX% ago on loss with in loss $XXX.X million compared Free and per QX. share or of million to to million

last million listing flow quarter. a in direct paid included in cash reminder, $XX.X year As expenses the

Now our and customer conversations; most our volume guidance as reflects spend on environment outlook, to trends. the event always, recent

thinking we're partial cause will impact model, more economic full some the the high churn. how and about stress financial to of First,

the We on customer expect the smaller on count than revenue, be we impact impact to customers. more with see as larger churn

year. XX% comes of As more a revenue a from than company spending reminder, our more $XXX,XXX than

slows. We volume-based lower expansion expecting customer event as growth are

lower is deteriorate, half longer. of of base the to shape the through If XXXX. event be curve persist higher first and could environment the continues the that case churn will Our volume-based expansion

decline. trailing it a number, is rate to we Given the XX-month retention net expect

million, margins the Non-GAAP of of $XX.X net could share per revenue XX%, assuming to are be an representing non-GAAP the and of XX% XXX.X quarter, negative we midpoint. annual For million $X.XX, $X.XX operating approximately shares between XX% world-rate $XX.X outstanding fourth between and expecting million. loss at

year than range XXXX, is the This XX% between $XXX XX%. million a our of with million to we an to growth annual to higher revenue QX raising are to guidance of For wins. due million guidance, full prior rate and our million our $XXX $XXX $XXX

be outstanding expect guidance marked $X.XX, environment. we XX%, remain digital look our net well summary, $X.XX in win XX% improvement incredibly growth. forward delivered per We're Vuong. million. on negative be We In to amidst to Over And And XX%. and strong of challenging to to With negative expect you, non-GAAP to questions. we XX%, assuming to your to loss margins we're a that, $XXX.X we shares position versus We results are prior as always, operating between between positioned a non-GAAP share retreating. of approximately long-term QX as sustainable focused on in analytics. others to invest a

Hoang Vuong

time. a a Un-mute yourself follow-up interest the As mic to video reminder, please question your one of upon. when one and and called limit in turn

at Michael comes Michael? Our Session first question from Turits Question-and-Answer KeyBanc.

Michael Vidovic

for Hi. guys. congrats This is and the quarter Michael taking question for Vidovic on Turits. Michael Thanks my on

Hoang Vuong

Michael. Thanks,

Michael Vidovic

CDP if in provider expectations those And have an And exceeding not existing week the I could you competitors? side, giving to customers your CDP or then, specifics, you they curious On what usually? didn't are but you're customers CDP one with I'm replacing generally versus know talked the internally. draws about talk about

Hoang Vuong

both. It's

and trying So of to where us, spend environment to vendor a spend multiple think, like like getting an First, come in Amplitude. on you're you're consolidation something a this, macro eliminate bunch

experiment and CDP as drive have to a so, well us product offering, stuff And a on analytics as other helps bunch that. able of marketing whole and being

example stack Amplitude new of, the time decided -- to was bought with ATB They outright. to the actually they an buy think didn't full I they first grocery net for the with on and been had anything of from a came bunch another They have to had the joined just us already. in all-in people Amplitude really start. previous company who at company decided users that place go --

CDP, have or to then because adding We are one already they either don't we're the seeing analytics on existing replace other places where an in vendor. and they're

too. happening, that's definitely So

as think I strong traction of so, data experiment. lot standpoint, terms of And my from a that well definitely in as from points

Michael Vidovic

Great. Thank you.

Operator

Great.

followed comes from by Porter. question Elizabeth Next Piper, Clarke. Jeffries Clarke at

Clarke Jeffries

for Yes. the question. Hello. taking Thank you

to really sub-XXX the company's that? driver wanted I First, for any And that land the XXXX. of history. quarter highest dig dig the into adds net industry enable in first quarter or is into Could from new -- this bookings you

were customers. even new So land, still amount with you strong a of to a able that lower net quarter

And about drivers talk any values contract there? so, how can trending, of you were strength

Spenser Skates

Yes.

So let break you. for that me down

seeing think historically, is bleeding big of Amplitude. were the think, I it that, that more only edge adopters was one on of big technology that we're I companies sophisticated, very trends

ready DoorDash’s HubSpot’s product, the first this way be the or have or of the embraced would this met Atlassian’s Intuit’s building of us. of kind So world. go the we're when and That or already to they

of seeing kind QX. is, more -- land of record name. record technology I years with another was an majority We fantastic for called company think average multiple deal actually I Zillow, company. had what we're a the in deal which was out or eight-figure household a tech that

And was see. so, to that exciting

from change So majority tech that's see early the this a that's you adopter tech something in And happening big companies now. way companies. to more I of think

start-ups, think the think, on not number XXXX. terms -- of definitely smaller challenging I and customer like some I it tail where is of of and earlier-stage long the it's for environment adds, funding in in more was a total the

cutting of resources them because that. that, spend and things back are a so, And on decisions and like of lot

that's two I And things those how net so, out.

Hoang Vuong

mention, was six-plus make deal, Hey, correction to, Clarke. not a eight-figure just Spenser an there I was to deal. think, I figure want

quarter, seeing I -- the to digitally that. starting we're quarter I to some don't what of see acquisition is you're think, customer, of terms would So naturally think companies you being of that it and only post add I both this to new thing do in want last native. overreacting to

the whether and their time, early in analytics it's in-house have something moving that 'Hey, marketing going, solution discover already market. we're product some digital volume. better’, were maybe would they company this they this going, they're 'Hey, best been already And, Filing wow, think an we're doing why companies that's you us. using existing more a obviously, solution, saying they way’, So a a lot digital for They evaluate there or to long as isn't have so digital and Amplitude they've business. analytics those over is and event existing

pointed that's did relative our do prior of churn so, you big land to they’re businesses, ad I our from new mentioned, as decrease out, but to that And helping to smaller quarter, value. pay. with had And a as chunk also unable

Clarke Jeffries

Great. And one Hoang. just follow-up,

of XX% us quarter could converge over ultimately, to through walk you CRPO and near Another growth, expect the growth CRPO them the divergence you term? between growth and revenue would

Hoang Vuong

Yes.

would ask is So you are focus as to obviously, and the that you flip benefiting some of the is the on as growth. I revenue I on reach actually multiyear a in between so kind you from plateau multiyear revenue may and CRPO. I kind mean, a see CRPO of mentioned

revenue And so I would focus on growth. the

Clarke Jeffries

All right, perfect. Thanks very much.

Operator

Great.

Next from [ph], Elizabeth by followed Porter Bhatia. Arjun question

Unidentified Analyst

NOI. ask much. to so wanted the on you Thank I

don't see because bigger we is see just much that number. quarter-to-quarter kind usually and change. So We decline a did that it rolling XX-month of

it's to called a churn And a So of provide, that you of the color little you're on seeing just versus helping more below what but pressure the headwinds, goes upsell? the bit of a couple first of more Thanks. for sort of XXXX? of think floor? we should saw kind risk the that out qualifiers any kind that, in number Is what we on half about there where

Hoang Vuong

question. It's great Thanks.

in [indiscernible]. Spenser the think of this I in terms his comments mentioned prepared as

post we as some in customers business massive grew what who really their I XXXX, and came had is seeing drove kind COVID. COVID expansion and back from you're think a

I time, of a existing at base some of and with Ukraine. kind One things. same deciding Russia those and churn. us expansion QX, seen we're and not think you've XXXX the with less also in combination lot from a the obviously two what actually had business we to mentioned being seeing in do customer is term also actually both is We high Twitter

then I that's some growth expansion in a you and churn things of macroeconomic retention higher kind start with lot of really what the high play XXXX drove net as expansion got happened you've seeing the that lower that rate. QX, of you current got by into and that counter-ply in think combined is

Spenser Skates

I'd we the thing for is, standpoint, from only add do right our to long-term that The thing want I want my all customers. to think, to

And for term. of rates may overambitious them the so long I have projected out think some very XXXX growth

asking getting And them we're in don't to segment. lot of a think us spend. I so, a are right-size that lot churns of

we that with of to by seeing to, what the if track is out to products help long they data the term they're -- they're that Amplitude. additional or [indiscernible] is their what going all of with being usage them so who spend selling in them want whether doing some want getting used, using getting levers it different better not the Amplitude confidence so all cases, decreasing And volume that them have do, helping from to them deploying out, increase we're spend they're that and ROI

Hoang Vuong

we a think we product I did the of XXX, buy believe, when think And always thing head when time. expand into rate the in and probably I do the CDP. right because to saw customer experiment go you're that net we lines, first audience public, thing I Coors business and for obviously other and us point a thing retention to is to guys going the like at you they're pulled out right units, ultimately, going good other there, XXXX same make to early went

environment. the we to for today's so customer thing future where the and is, in love we're going do right it And the of

Unidentified Analyst

you my a any on ask the think expansion of I to more I of also, areas just the reaction lot leverage? a of a to drove bit just nice color what wanted And more really back in that quarter. drove on question, improvement it that Got biggest Is on that were Is sense. expenses? you. And the makes margins, second that structurally those the in And pulling macro something some of part? little more the of or operating

Hoang Vuong

margin Yes. from we're investment look if we're I'll very product operated at development. We I day last actually always actually, for at end kind increasing our spending and year because of talk through we're XX%. we've of were XX%, a actually more, you operating at at efficiently. us, few in mean the our the things now

year actually we're expenditures investment return actually this the particular obviously for actually and And some so investing also like around doing stuff we're into synthase and increase so post-COVID office in investing and event Amplify spending. in kind priority of development

and working, that cutback us think know I we the better". is silly. you're new of things them to a take bringing redeploy new seeing not we just of spend. never a of actually we're just pause That leadership And saying, new so I as that can result that "Hey, things actually in for and are let's Some kind working seems them bets and on even want use spend, on

that then not. And of our think before much margins, that ability then turn that of us obviously, to so operating our And our put more where things prudent around off being to also gross more taking I that's are points. margin solid XX% working very sure investment us we and a, make compared number at somebody were things three a we plan on gaining into is to on are

Unidentified Analyst

Great. Thank you.

Jason Starr

Koji Great. of Arjun, Arjun from Blair, Ikeda Bank you're please. up followed from by America.

Arjun Bhatia

maybe one and Spenser, this Thank for Awesome. Vuong, you. actually.

it are you outside last one is clarify one to topic. thing. of And it true this churn, want larger customers in churn, or sell? just And seeing Twitter? Just On on is churn down then

to? going shut back going are replacement churn, the they anything, do saying, what's do just SMB Are need we they're Amplitude don't they going to their it's to it customers system, GA, for in-house that down? or enterprise, As to they whether decide what

Spenser Skates

Yeah.

some then Let this level on me one take can let Vuong of details. I high and the fill

of or It's maturity either or of backward or I'm almost going Google secure business shut like the Amplitude. "Hey, Analytics ability kind with not go or going resources. to build are reasons to after in-house of biggest are the out implementation to companies having been to business someone units not journey. successful in see this try folks saying, to getting go We never going lack So down

so And that never happens.

try to huge drive of about for of get and sure want this we think implemented, us, get so team in And terms I Lambert a up. set in to customers environment. Thats's what making it's and focus customers Thomas

that even the The over an they be to that through because think is continue other from weeks just spending in current there want with that us they'll "Hey, is, customer long-term. reevaluation they've thing next continue conscious XXXX ago with us we're as five year years out But ago. that grow internally a is started beyond have to their with grow I the since six, going years was us like, spending for rightsizing and I they're in seven-figure will expectation company. talked how customers, about our their they to few to expectation ones in I

the customer we're so up. of terms that's for And the competitive kind side, in we what of it's from the -- do. on really able always We're feel product well to set innovative -- not edge -- a standpoint, bleeding most

Hoang Vuong

your to that customers, the business the questions a do answer Because the -- going is I we're It's just no see into they're they Yeah. of to there, small go really get out that churn the I seeing going pay, macro environment they I there's can those add think do unable that you really not kind question, they're coming only mean the or word else. if they large customer, what solution. really with you you're our said -- from I enterprise like of back only not have tighter to budget. churn think have either because of thing leaving answered. obviously, for to adopted time you that going do to not is businesses much they're good are something

may trying they're sending to they figure actually that. in to optimize data looking that and out at so ways be the And

very stance great, we taking is on hey, actually it, let's saying, we're you. help we're different a -- which Now

run. prepared I help as they're the off we're what better this long mentioned Spenser work owner the data to around high value believe the think how more data has it in again, remarks, we data, understand trying because using to we visibility to them, in the would be giving

that dollar smarter. can near trying there. We're save hey, help got to you be in constraint. may they how here, term, used identify not actually means to actually I how budget do it I which dollar the like, to them a a events it so and figure And out got

the near-term But be of to to that's so I think relationship is going some health issues. the And long in the strong. going cause term, really

Arjun Bhatia

state place. the just coming lot going that we customers few that – opportunity, even the when are when and of next you the Yeah, ramp-up, in are about And to into you contribute expect you steady – Google over Is on of to then the new the sense. now a quarters? is makes the think terms quarters or that what migrations kind absolutely. of you're That seeing Analytics taking impact year, that a and next expecting is

Spenser Skates

significant. I'd of mean, know, say I from customers pretty Analytics a-third new is – already Google I coming don't our

quarters. And continue of mean, are few expect Analytics, the just over that they're to next to because think announced the sun-setting their so I date lot I extending a for that we'll Universal Google unhappy. customers see

continue. will I so And think that

amplitude, to of built a Our we last that part of analytics there talked earnings previous That's on marketing a bear from terms quarter's why out focus the bridge tool an call. continue we'll we of being in be whole generation successful. about to and bunch fruit huge

And so I lands. to expect see

Now, certainly and so, in in hope grow the business way? we're more? even way that in will I that it investing

Arjun Bhatia

much very you Thank Awesome.

Spenser Skates

Arjun. Thanks,

Operator

Great.

followed from Koji question from Koji, Scotia. Next Altmann please. Nick Ikeda, by

Koji Ikeda

questions. guys. to see a billings. Hoang. and wanted Hey, I on taking the ask Thanks Spenser for you Great to you, question

Spenser Skates

you, Koji. Same to

Koji Ikeda

guys. question Hey, billings. a you to ask Wanted on

of but million a quarter the that in $XX this help would kind third back was and back there quarter, affect quarter. recall I forward second pull So

– I calculate XX%. guess after back roughly even adding but $XX million, billings third we I mean, still would – So that be the quarter

causing really from big it the what billings big growth past. in realize that but has pretty just a had then we've the revenue, look on the billings Hoang, seen XX%, And compared decel and when what that focus you at I do you to So been sure of any there growth affect topical to we're could make or billings out but delta. just potentially in trajectory? the forward understanding could with how volatility and and want sort be volatility this I

Hoang Vuong

Thanks.

we time, grew last First said of all, XX% QX in our quarter-to-quarter. billings actually as

that actually, the QX. we in month quarter. had really to million you that so strong a but we And large piece obviously billing the a the mentioned, that moved obviously actually was base, very renewal of in $XX expansion big of And a happened April that was

in And some are QX. those renew supposed to of customers actually

yes, we're expecting. renewal year-over-year bit of so standpoint, little QX, than QX, from for And we actually – a grew X% billion that higher a actually moved referring a base was that big we billing the portion were fact that over

Koji Ikeda

Okay.

– So

Hoang Vuong

on I just same one billings, last the So build month. – tend to we right? in thing, piece the – a And remember our month, to don't last as we we would reminder, just following the build

bookings that then October, in October. actually contracts go actually if say, month into of obviously they're started get not So in built have October, down September, going be the going or let's in happened you're to we your to

the And so that's another to into factor in is in. catch going where to come billing

when billing our will something look and So pretty you be at quarter-over-quarter lumpy like that.

Koji Ikeda

it. Got

then coming mentioned guys you And and about really international wanted you XX% thinking a for you USD. just international is Understood. I Okay. you in Hoang revenue priced on to question ask of

international a getting presumably, buy it's it's So lot product. the customers harder to for –

headwinds, about sort help kind internationally at how you So just thinking alleviate levels, to international FX cycles? of taking are sales any FX these pricing persists of packaging if forward,

Hoang Vuong

This is this. the It's actually customer just -- we're entire that at base. looking for international it's not

motion, be get next points allow a and One more get opportunities of includes a product-led to we're at price bunch easily the into or customers other which things in to of is focusing with lower more started big on to Amplitude going XXXX as a year. whole we growth self-service for us

hey, to ROI then be of next one the allowing someone we levers with year. to big over small, And so that let's us going that's to grow prove be start out will as going look to, -- some and time, is

Koji Ikeda

Thanks Got it. for questions. taking Thanks guys. the

Hoang Vuong

sure. Yes,

Operator

Nick by UBS. Altmann from Claire followed from Scotia, Guido

Nick Altmann

not Thanks event if perspective, a overages to taking sort of right? are conservative there's you more commitments Great. on new on macro upfront a their maybe from perhaps, of event more I'm new commitments, of in the seen at guys. you've Like environment, just customer in side? renewal, I'm Yes. any approach net of curious going of at really so little the bit side sort or either or customers, renewal scrutiny curious on terms they be the seen change or from to volume even given future their just just net the and commitments a the more have equation volume guys

Hoang Vuong

Yes.

we're on really some they're side. are volume on that as putting tooling the the what give to can there much the help transparency places much better side new -- mentioned renewal whole of bunch doing. why into them well we that side more a how That's customers are as helping drive So, a that it event on on I find tends value going happen that to be net pressure other that doing as not to It bunch is the value.

is the continue want them. to scale with scale to volume, that we'll big know us, one I other as event think customers of with they things for

area provide. that of volume track the data of we investment can for more very bunch data, doing whole customers of big XXXX there so that that's another to more large more we're And so able because for the we’re able value going be to a is we're to very, track the

Nick Altmann

it of overdues as your your given macro? as trended impacted level whether been have typically sort philosophy, driver have or to is do those of Overdues embed of follow-up, late And guidance of typically pertains a you certain I sort is of guidance, a upside? and that the the in guess,

Spenser Skates

are Because April, And that's expansion renewing over, happened expanding a in customers what up typically if early Yes. saw, which revenue, of already we under contract. very one. relatively is Nick, those QX I'll end they'll it, us call for actually of such so. for or quarter X% is why month our instance, obviously, large the in is over. and take under Overdues in that were going customers percentage happens a that small

with again, one partnering our is so, And priority the number customer.

call it a have it, in planning -- some a, haven't it expanded, increase per not April. seen large it's on And executing a to of down overdues. us to consistent. may that already do We helps from can If se get so a we again, the But that been contracts small fairly because side. I decrease We’ve them seen slightly, we're better or percentage. such of so big and have said, overdues. always It's like kind trying anything, we the customers right job obviously on gone those of

and this So go it's again. after a slightly, that build to it. always then small such to down But of up tend expansion, they percentage begin

Nick Altmann

Thank you. Yes. Got it.

Operator

Guido followed Citi. from Claire from Radke question Claire Tyler Next please. by UBS, from

Claire Guido

taking Thanks Great. the question. for

harp on macro? we back to terms, go maybe to billings So more a invoice the timing it reflection the of is more flexible or payment changes And in sorry if as or given to duration billings But related a on the and second the little softening or adjusted of is pull bit. leading an low next indicator going a of growth forward, the well, part XXs. then, kind forward as Should as basis think potential for that year in it's revenue the a

Spenser Skates

Yes.

doesn't matter. timing of billing the So in a couple billing. of things the Again, of on us terms

QX, bookings were our In more And be in also so of back-end quarter. therefore, QX, the booking our linear bookings of loaded. the the matter. to happened loaded In our more that more front-end timing area

actually back-end now typical so us. normal loaded being and for is And more

of – linearity if actually was bit I do thought. kind so happen. the they house guide with why of were our lot has talking where think were even little we mentioned though higher on we billing, we we But than -- to drilling as And I a that's earlier, a our

the as built of so the quarter. quarter, in And end get they happen in following they'll

Claire Guido

don't kind variable or much since quarter-to-quarter, too growth, to Great. that comment, be you as focus a rev Okay. be maybe on used And the indicator something Thank XXs to you. for on to low touch it's going so but not want leading of could

Spenser Skates

guided what Yes. that mean we guidance terms for for in QX our you I would to of I point quarter.

fiscal wait as part early the until I to environment. to obviously, as monitor XXXX, XX% a to think as year the like guidance we'll kind next provide we're year that guiding we of midpoint continue on the far of and

Claire Guido

Okay. Thank you.

Operator

Great.

Tyler Radke, Tyler? from question Next

Tyler Radke

wanted for the I side. afternoon. just Thanks Hi, good to go-to-market question. the on Yes. taking touch

you're whether as about from how changes there's curious changes obviously, RPO some year thinking if next just through new or So to know for just a or messaging overall it's the you maybe been current going on been overall you’re your into cycle, thinking leadership, I sales planning the you're of about how secondly, salesforce? outgrowing the comment has then And could year. just RPO. if compensating next organizing visibility some

on you how how year. are think multiyear just So has give sense next seeing a contracts, improved and you. but visibility your us -- should Thank we about

Spenser Skates

Yes.

he's mean, board. I'm across that we excited have leadership that is driven the I level changes first, already really the organization, lot So here. Thomas a within of up

sales new we'll Tifenn, So who continue across brought hires few multiple in our her other ops CMO, mentioned, a he sales areas. enablement, I very team. evolve And leadership, excited leadership, that to the

take out of a in is from and I kind new think about the as getting up from way for $X we've how but now kind setting to it's do build machine about the billion that's us years. few the leadership here it us we us stage building revenue, great we're to a I that next a for executes the company. Obviously, here, job of done in think

love great so rolling, a always want make you In we areas us I Amplitude. mean, lot salespeople different money, compensating here if sales -- of at to comp, terms the from of come join

set to there. reward to great always people we great want to sure so And we're well and how an that's evaluating area sellers that performance and sales make up

on I improving. lot, just focused on the think execution there's we're that a generally

remarks, pipeline things So like prepared growth, bunch that. during top areas forecasting the I inspection mentioned enablement, whole of accounts on a and

seeing few I'm there. quite been still improvement quarters. we're forward here And so out a the as we to a go only for great few Thomas think has play there's that over so next and for a months, of lot while I -- ways

Hoang Vuong

And visibility. Tyler, question address your on to

bag. little of I a bit think it's a mixed

RPO. it's on base, given – on pressure But this partial is great excited and really land of we're more I turn starting the full customer think both to and of then our some a by some macroeconomic those obviously, those kind kind turn also traction have think, both too. clouds I the of -- multiyear actually it kind of side. also you really see see we we're on in And that

at like thing one we're changed. chasing so the has then And somebody moment, else and seems always it

think you in now to early through but is were like on I'm land really I we sorry, the we of to expecting. those of put causing too. that come and if the around out? macro work going out? really felt things. question benefit earlier obviously, starting that about we going see hey, things going And that weren't a be year, to you're going felt energy play is some -- the as quarter, execution good the that. how more And was to we of of it like, to And a How those ask from the and is lot kind in manage And lot to actually we're that, --

Tyler Radke

then Great. if ask I could And a competition. just follow-up on

obviously Google earlier, seeing as touched you call environment privates out just to position So of some reduced Analytics competitive obviously, there, anything are How we change on you less but you. the think that funding with about capital Thank there's the out? VC formation. if and the

Spenser Skates

great Yes. position. competitive I in a still we're mean

win continue on of to that our and amplitude lot the they've off is top a [ph] customers. win a that. on the big we I continuing taken way where their phenomenal of companies And think example side, consumer growing and to trying really a big focus is in bureaus

I more one on opportunities make like amplitude. that options for to we come is think as talked people sure to big things, about, I packaging of have and and those the to pricing

revenue, looking a at I product. to most is drive the data value just companies how what they're bleeding that to them those they but are the and not comes about lot edge using that in think in the of they're it when how think

want how first successful lot the culture. why -- when a specific actually I grown a product we build should doing sure of companies. to packaging bunch them those larger very in front non-tech be making in them, A startups data-driven with sure companies, so lot and top we're both to to out as of the be tech about they to on say, look the the which is make And well and pricing targeting

to us super it's for important so And win.

so And we're we're and that's do to continuing always our that, end. priority -- top a on

Tyler Radke

Thank of you. Q&A End

Spenser Skates

no that, in I'm queue. questions with seeing And Great. further

to We page TMT at Conference much at be UBS will attending QX will Amplitude’s website for Investor posted very earnings be our in investors.amplitude.com. call. Details the the Thank Global Relations you conference December.

disconnect. You now may

Yaoxian Chew

Thank you, everyone.

Hoang Vuong

Thank you, guys.

Amplitude (AMPL) 3 Nov 222022 Q3 Earnings call transcript