AMPL - Earnings call transcript Q4 2024

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John Streppa

[Audio Gap] Spenser Skates, CEO and Co-Founder of Amplitude; and Andrew Casey, Chief Financial Officer.

During today's call, management will make forward-looking statements, including statements regarding our financial outlook for the first quarter and full year 2025, the expected performance of our products, our expected quarterly and long-term growth investments and our overall future prospects. These forward-looking statements are based on current information, assumptions and expectations and are subject to risks and uncertainties, some of which are beyond our control that could cause actual results to differ materially from those described in these statements. Further information on the risks that could cause actual results to differ is included in our filings with the SEC.

You are cautioned not to place undue reliance on these forward-looking statements, and we assume no obligation to update these statements after today's call, except as required by law. Certain financial measures used on today's call are expressed on a non-GAAP basis. financial business to planning trends purposes. non-GAAP our analysis and these and financial and use measures facilitate internally of forecasting We for internal non-GAAP financial information not in accordance and from These as prepared have GAAP. in or for used isolation should substitute a with measures financial be limitations to non-GAAP the these at on included our Spenser. Relations measures website in call can our reconciliation between financial which found A earnings that, be hand I'll investors.amplitude.com. With over GAAP and is press release, Investor

Spenser Skates

to today. Welcome Full Earnings John. and Thanks, Amplitude's through XXXX Call. QX go to X I'm going key areas

First, reacceleration market customer innovation, winning the how opportunity all second, outperformed results for year our our XXXX progress we on on why platform QX product the is and of our stories. QX key Last, and and after enterprise metrics. of the are going the business; Amplitude.

win in in flow was platform. Churn team proud million. generated ] XXXX, ARR simple, to Amplitude and embracing XXXX. in beginning of together. win X% path win $XXX quarter. Our more reaccelerating. I'm cash $XX see of delivered XX%, million, We almost million Amplitude accelerating our $X.X was with we million, everything year our fourth grew Customers growth. a in the more they $XX Annual strategy increase $XXX,XXX, $XXX of revenue. for over the than and was for Non-GAAP million stabilize, double-digit an [ are up is $XX to quarter and is exited progress our category see year. the free from last We're win the on continuing to than $XXX,XXX enterprise, the Customers In ARR we we recurring year-over-year. income revenue revenue up with by XX% to operating grew million year-over-year.

is data exactly to company of Let's year That XXXX. the delivers. take and their what customers ways look trust, needs Amplitude platform. is understanding XXXX can action. they of at Every the Amplitude an

help we we and customers This enable we customers into do get based on Then what in why customers Amplitude, world. to analytics. table Session those data companies the Then this what help and one trusted their our and analytics we than is else insights digital Thomas the I our experimentation and anyone activation, analytics do is doing to want First, understand platform using take past Guides of the Replay. stakes like you is action products. want in better stand-alone hundreds action. take going in looks executives using with Companies interested what actually beyond to solutions. in Every Amplitude's and through single over spoke year. not point Surveys platform. I are

So flow. they are use you're users point a stuck in manager, certain that analytics a to at the getting Amplitude sign-up product discover

flow. Replay to Amplitude the of use You the Session then confusing identify part

You then experimentation feature which sign-up to better. use new Amplitude test flow works

You Amplitude more need users guide add Surveys. so help, you in-product realize Guides your and an with

our innovation We platform had highlights driver with like October, together. powerful like All a walk Life to Customers TicketSwap issues want of growth the at from and we editor Double in-product Customers Replay. Experimentation. test the RBC launched websites products expand products continuing to better journey, to on rely the needing Session We're launched of Rock understand use work Hard In through market. it identify it user to we Good engineering. more are cases Amplitude. long-term when with February, of WYSIWYG without Insurance, and In Questrade improve and A/B Web Digital some I is use in these together one platform. Product experiences. XXXX. integrated X biggest to you used new that new use to

the and to made improvements data digital enterprise data platform. controls features analytics enterprise-grade lead access We as launched also like our platform. the major mutability, We building

We also in and XX% XX% users Made data. in This time. to Easy increase self-service a a users and self-service value launched increase help get started of record Amplitude led sign-ups in see to sending number new the

Amplitude make in-product and of into Amplitude. We're of got Native Guides an better week, going all it showing out-of-the-box is. product product Snowflake and launched Guides and more surveys bring companies and first Surveys. launched average deploy XXXX. helps Guides user we just months a terrible data end to to how integration AI. the I'm significantly and than guides, HubSpot X after demo to show easier do market. in market clicks. a to Surveys we Guides in start going Finally, you product this Last a in few We tours to acquisition I the only the this with experience Surveys to now. actually provides you Surveys actually of Amplitude's product want by average Command

product, So of get Surveys with the you tons and average Guides annoying pop-ups.

party. a worse, experience, Nobody wants engagement. for call this this pop-up user, effective is not is and As We experience your it the product not now better.

Instead default, to Now approach demo is based on shown is better want every you what how doing we because you product. show customize it I'm going showing much the pop-up I of user is. see every to of to a Amplitude's what in user the by

the builder, and of that data-driven the is in know detect was the next. that way So know their complete The can then what we over personalized a We and reason in that we European ask experience guide tailored them confusion They to choosing what we product in user for moving in task. main because email they this this user is and the demo, UI don't us is engagement. where then to screen users the the through us ability a can let higher them they're show accomplish. confused. user all mouse they told better a interaction This BX, Amplitude. trying do to see Their results CEO and

While is strong demand. are we it early, seeing already

Amplitude. new day to launch a record-breaking we During sign-ups last had week, of number

top focus relationships, higher XX XXXX lot QX Guides in prospects. and drive the accounts year, enterprise going to at smarter believe bookings. AI AI is customers off paid Vinay We so in we're created win more James, in innovation building XXXX we to has nurtured C and York way our to pace March responsible targeting helped Command concentrated more portion ensure out top wanted help resources team stronger a relationships that in former product large Amplitude's land A more the for level launch a in segment what models Investor buying pipeline biggest to at This and big some products. which gross is had enterprise. larger exciting customer. We're customers levels and with the lead shout ARR. year, particular. We've right now platform. even the the continue to on on and in significant developed before team product for our in XX for also The of to strategic VP New details the XX. We build a every account market the to our customers go-to-market allows and focus to on way digital team will be our enterprise. I including we've this product the QX our have launched. Amplitude quickly. also in horizon some change to Day on our almost of share new entire us bringing analytics this executive sharing last doing Surveys We This There is in as was enterprise This specifically we're a a customers. In

product sales, professional teams enterprise our and have out built we Lastly, staffed fully capacity field. and the services across

here. role in multiproduct XX% the from a our targeted Our land new again platform deals. of In accounts plays strategy QX, largest came ARR

product. However, one XX% of still just our customers use Amplitude

make and their deeper beyond improve experimentation smarter actively loyalty, XX% to uncover replacing feature I potential company data needed those decisions new million at to enterprise tools empowered shift they online Latin are Mobile, analytics them opportunity our value, derive and product XX Amplitude expansion RBC the into America and faster, test platform. integrated Insurance, quarter in than detail is beyond on query half drive Mercado total into to customers, Our Rock million a those a X data. and teams data Western higher Mercado first-party is massive. internal customer Morris, we Abridge expanding in powered more the want than is about into analytics, buyers One Libre Digital, Libre a to over Latin insights. Building who Mercado Union, business of only. same and greater quarter, Ultra now its XX Amplitude is big. On and now This personalize invest for analytics the features, retain leading Activation, expansion X,XXX way multiple dashboards transactions, in new this upside in who at America. shows us optimize today. use talk commerce and Hard With user with Amplitude move last X the Libre actively e-commerce to had campaigns more by for use with Amplitude going and employees deals success, great percentage points new overall The to the our Thrive adopting Philip Market, Over Libre, AI, engagement. including Libre data allows many turn AllTrails, users, customers Mercado With more. shift all By with Mercado Calm, impact. of that

Libre Mercado as they driving long-term innovation support to growth. scale, proud are We and

world's platform, of also customer their engage States. make result personalized smarter across we And of cycle, experience testing their drive in-car Amplitude company. they a is at their systems. dealership transformation. across drivers out a working entire interactions relationship This the more for and time. cycle. is seamless. them experience, are can interactions Activation, the in they digital are to are customer life who across experiences the traditional Historically, fragmented connected, multiple how are and With for with fundamentally every experimentation, before Amplitude In and from companies incorporating more they with rolling use and new is The United see customer infotainment now data expanded redefining competitive driver refining analytics, power expanding their the scale. drivers now to We the By features with are headquartered feature intuitive our advantage the a legacy Amplitude insights delivering data-driven life helping services. With with digital driver real in that unifying teams digital experience more here QX, one Amplitude automakers leading enterprise was in-car that

and their and the reservation platform experimentation experience, point Amplitude It across largest accelerate solutions worked those to promote also reservation Lastly, replay on vendors can restaurants we and into looking with to to overhang TheFork, Australia. XX data monthly diners increase help across the and legacy improve and onboarding TheFork diner and and improve their analytics, combine can identify was workflows over demographics over iterate and booking million are the TheFork and platform. them identify opportunities for boost BXC restaurants, reduce applications. TheFork helping discovery process patterns BXB now team XX,XXX single drive It with restaurants. online revenue. working both restaurant and subscriptions. their Europe ability a serves bookings in to and similar repeat the and first to geographies. can session

era As contracts. XXXX. mentioned rates rightsized A large that their after COVID of tough a significant today, customers note final majority a stabilizing I were churn our relatively have

environment signs seeing macro have also key we need is behind the of We worst we still watch. us, are remains challenging. to but accounts churn that The the

to churn of pressure we the keep the lower expect we anticipate While end market. improving, in continued

helping Our sure as customers succeed. best churn Amplitude focused team derive reduce customers value The to is as fast on to possible. make from is way

reiterate I hand Before over that to how last the executed year. I of proud Amplitude to I it am team wanted Andrew,

are in to interest in for early to XXXX still Amplitude. you are and and I'm we analytics We beyond. set looking category, lead it. the Thank digital forward up your

Now over in QX through and run to XXXX our more Andrew financials detail. to

Andrew Casey

how plan good Thank pleased everyone. we team put progress the the you, Spenser, in and place. showing ended I'm against afternoon, with year the

in hands. is our Our success

We to team, in right place and right strategy continue right strong have execution. the alignment

upmarket move we we trend as working the believe enterprise, is and can accelerate. strategy into retain expand, land, Our this

out, is XXXX laid for Spenser strategy our As clear.

our on solution. We that build customers focused are an mission-critical extensible allows them top of platform workflows building our for to on

speed for grow we Our this this, employees more are model shareholder about enterprises value increase We'll When to we to create focused Amplitude a but one growth durable March platform profile truth in application decision-making to consolidation our gives companies and our customers the Amplitude. With over at priority, with is ability to reducing on the from and and business realize value implement we time. focused value to of changes cohort their to our be as another and enterprise to iterate on within our continue organization solutions. or ability pivot for solutions. ripe over have core a is that XX, need discuss their enterprises us consolidator this $XXX iterate, #X single creating the process an of the of point will have over point to product to with on that at enterprise, the data, source is generate enterprise quickly. Democratizing cohort Day million business from can say revenue. uniquely accelerate X,XXX analytics the positions Investor we're

to expanding Our with growth rapid landing use value algorithm driving enterprises, is focused time cases. on and our

to improvements or of the technologies in the improved only their a deployed So understand many of pursuit environments products, pain customers of business outcomes. these managing drive digital marketing customers, better to discover digital variety their effective drive in driving have

are sellers our within develop to Amplitude become value we accounts platform customer and our and pain. partners drive within with we becoming relationships. believe platform the longer-term greater positioning attachment relationships create to partners organization. strategic focused customers, deep By strategic solve will this Our uniquely on their They the

to We hold our have this take as accelerate, year-over-year. XX% to continues RPO start seen up

our to turning results. Now fourth quarter

As the with that all financial exception discussing will are I of a non-GAAP. revenue reminder, be results

revenue with Total our a IR between million increase earnings X% $XX exiting revenue of Fourth million, quarter-over-quarter. found year-over-year non-GAAP increased XX% financials annual $XXX our an and along results, results supplemental on recurring $XX.X release in up million and financial can website. GAAP and GAAP press year-over-year X% Our to and reconciliation QX, be sequentially. was quarter

new for elements The the on but Here the quarter details strong logos. on are more the difficult of new macro remains a focused key customer enterprise, We environment quarter. the had of number year-over-year. XX%. a more to representing QX XX% trailing an or basis increase was increase In-period $XXX,XXX $XXX,XXX, a was XX-month NRR customers in sequentially. on of grew of XXX%, X-point ARR still NRR

greater make to XXXX QX with the expect retention continue enterprise and the throughout line XX% quarter, we've Sales in XXXX. increase progress opportunities. Gross marketing coverage. a was in expenses and margin slight of reflecting expansion on were drive investments to we improvements We made slowly increase for in revenue, NRR XX% fourth as year-over-year,

than compared time. R&D quarter a XX% moving the legal year-over-year, We continue million a based our and points upmarket Free million guidance. percentage primarily $X.XX G&A to to the be per as Net percentage optimized our XX% flow better $X.X ago. revenue share to year improve on midpoint our processes acquisition-related and sales driving a of G&A X of aforementioned shares changes positive a of operating percentage diluted XX% or XXX.X in improving of up and income up a X efficiencies, profit $X coverage to point enterprise million revenue, was acquisition Command on of million which primarily year revenue due in X Operating X% positive million, cash points ago. reflecting increases will diluted our were expenses. was $XX share due was revenue, the focus of per in net towards XXX.X of compared or of $X.X $X.X and over income was in Total percentage X% was shares with the million to improvements customers. $X.XX sequentially, to through and was sales Command increases marketing or of X.X% expenses of revenue, million up approximately continue AI. of sequentially, revenue acquisition revenue, AI. to

Now turning to our outlook.

the the near challenging that environment future. be in We continues assuming are macroeconomic to

encouraged with the our strategic we progress of changes. However, demonstrated are

continue has buyer new to will scrutiny logo every months. not that past over We and shifted tough be the expect X that

influence larger As we incent levels our issues get churn, retention to address of to in the structural to platform. our of we continue and deeper motion go-to-market adoption greater

value we outcomes. to not are see against enterprise plan where We bets will and deliver our shy appropriately favorable that We durable building reinvest platform increasing opportunity a growth us as drive we to any from business big away SaaS our to will customers. enable

revenue quarter at the an of Now and we growth $XX.X XXXX, representing be of first rate $XX.X between for annual XX% million, expect midpoint. to million the

negative basic negative a loss negative our linearity between announcements, $X.XX, product assuming begin be as to operating million be and non-GAAP sales with expect the in business new we other million, negative $X.XX reflecting outstanding new per $X.X net our kick-off and We XXX And we $X.X investments. shares year between to approximately expect of non-GAAP and go-to-market million. share income

rate million the revenue growth year $XXX at For between XX% expect be million, the full we midpoint. annual of $XXX XXXX, and an to

Our be million, and growth $X.X positive outlook with for on our million negative $X.X focus income reflecting to non-GAAP operating between leverage.

net ability share durable be million of on to and growth $X.XX, confident as investing by customers. a value We per outstanding the contracts, to driving a measured model to fully between expect income customers, drive innovation $X.XX diluted the to XXX.X shares non-GAAP basis. I'm our right right approximately assuming building and for greater aligning our build in

Our long-term be you, Over Q&A. to execution, that, discipline we opportunity With it remains a will increased great I John. position incredibly for believe in capture to we'll compelling. up open it. With

John Streppa

from America. first the Ikeda Bank Our Sandler, be Instructions] from from Koji Brent followed [Operator line of by Bracelin Piper of will question coming

Brent Bracelin

absolute basis improving? net you on Is drivers Command from contributing to Can contribution AI? Andrew, you. increase we'll new a it's understand, was that's double-click we've GDR seen Just new little mostly it? lands X such on Net it maybe ARR? a there to with Was here. the start into the ARR trying new an in years. Is there highest big

years. of drove couple a that? We haven't seen What it in

Andrew Casey

I We take enterprise is, first really longer and in XXXX foremost, of enterprise cases. beginning It's to changes question. Well, and cycles or even -- thanks, that X I XX focus it's started on The in Brent. would between some think the and coverage. sales you making our our thing great tell a the months in it's

And the delivering to is so fruition real the what customers I think really and where use we're productivity on and seeing great starting see of that you're investment value. cases

there from the we $X AI of about of million that acquisition, Now component Command which as came approximately was a was ARR added. that part

Brent Bracelin

walk been cross-sell quickly And week guess, Surveys Guides through you Command Okay. around in and guys the out the think, so. potential product, it seems the Helpful. X know AI, last then Perfect. opportunity. specifically specifically on AI, Maybe very a I cross-sell early but been rolled like I we're incremental attach to rate product or week Command love the feedback feedback? what that in, I'd has I with what's now live. compelling upsell, the hear

Spenser Skates

Yes, Brent. take sure. that. for Thanks, I'll

the thing former get takes -- So it fact everyone awesome. it's first, do it to most like, integrated happen year in so -- here I as weeks to the credit out acquisition Like But it's it Amplitude able months and X AI quickly. and Command working. at mean, making just we're -- to for a in get is both teams, X to Command team to that as an a well market you

In data now the products core with terms and the from set of standpoint. a you cross-sell managers opportunity, product of Surveys, I complete think Guides have for

individual no really point to there's go reason So with solutions.

well of up the from on top And that So a a us I competitive standpoint, think standpoint. analytics you're contract. then XX% looking I uplift to think XX% cross-sell sets from

of the doing deal just Xx yesterday. I'd the full see Xx was actually That you're kind call you what platform, to at a similar By just Surveys only. that you'll and We for core I look fantastic. experimentation. what the analytics $XXX,XXX between of think overall, anywhere suite closed Guides for from completing and it's uplift into So

in ones QX. for the QX pipeline enterprises in and We our have some of larger

is but interest So which lot we're great. early, a -- on seeing of it's it,

Brent Bracelin

and see in to execution a nice to QX. solid Great see

John Streppa

Bank Our followed from next will Clark come D.A. question from of Davidson. Wright by Koji Ikeda America, from

Koji Ikeda

was all the a noticed there current gave wondering the the color just sales in strategically you're in and some about prepared look sales today? what little you -- in go-to-market. sales first bit And really sales the get I like that you attrition the about curious, recently. Totally you hear prescriptive we the been could thinking does more remarks. wanted capacity here, enterprise And may motion. investing But if appreciate one have org how in I is

Spenser Skates

Yes.

year, self-serve, whole a SMB, the last business year, we to model. a I This to from move change order segment the added in was to the the we basically resegmented We've whole do from there. sellers addition to successfully standpoint, what Plus enterprise big named of that So highlighted -- think capacity bunch right the of to after of a I created built of the investment go accounts plan the kind increase level -- strategic accounts focus opportunity. out away

You in of fruition kind of come saw that a bunch to QX.

from set capacity we're So standpoint through was that go up as year. this great, and a we

a natural sellers continuing the else. as team and attrit naturally see continuing you'll of everything to Now as upmarket push to and business evolve part the and mature, change you

And expect significantly enterprise maturing beyond say it's what so of wouldn't you'd business. as I part a

Andrew Casey

to too. that, Yes. Maybe add just to

start you of changes model, as think lot go-to-market I there's happen. that an a instrument enterprise to

towards number, should gross being additional ARR. much when putting making that you I at that and ARR investments. you be that's get split accounts, at data try at force we're you in that's an the closer indicator look I balance when that get of on additional and also at the more to that -- sales move dig appropriately. that particular, expense And start you look actually understanding You how But territories, make have leaning starts one, dynamics working closer you're is And gross making as to we to look early before magic you deeper. to investments. In working how and to start the efficiently, sure the the machine look result and really more efficient things more you

more distributed going understand of the generating, the you're processes, it's attainment of sense and to to more working pipeline to clients. team. profile coverage your are really likelihood generate well your that lot in that a If enterprise and and how convert, AE, then is more You out reach start the sales to it makes and well, have all to go across investing frankly, SE those things

Koji Ikeda

more And demo here, philosophical we Love Got a a it. maybe question. saw. follow-up the that

Spenser Skates

I'm glad we've done is it first well. earnings call. the it on This an worked time

Koji Ikeda

worked. It worked. It

So be is doing. really me congratulations. what got it But good should at Amplitude thinking, user knowing the

that fed data a for into looks intelligence why negative agentic and it. be positive offering the -- can't an AI be this a right? And this positive, of power So usage So like would Amplitude? to a or be would

Spenser Skates

should our product Koji, you join leadership team. I love it.

You're us. already of ahead

one this half So will the is going things agent are Amplitude action. insights of the we in an year be automated launching allow drive to and doing both to sometime that second you automated

at groups hey, the test look So them flow experience me works create a for a in prompts guide out of of user and and for had should that me bad create or experience the a that an sign-up experimentations versions of good users new product and that or see me. trigger in-product the what show I or best different

there's for it's web. really because right? It's of There's equivalent and one data, proprietary actually of to like not So largest behavior on of your repositories there, open this on out the is there's the data agentic no stuff have user of largest. exciting of us the we -- point, only open sources like text we're one lot the stuff source where a

really we're being so and insights able action out something extract excited with of is about. agent And an to it Amplitude

folks show already partly on Command have that working actually from from and team March. don't second our that Amplitude, at to maybe going goal the do be out to we're be there's with it, we something partly in a in off we but anything preview here some we today, have half. So Investor can a My and have quick will the something during coming Day to folks

John Streppa

question Ader next come KeyBanc. Wright followed at from by Davidson, Clark will Our D.A. from Jackson

Clark Wright

user more slowly seeing like theme. building a around about you're as more off prevalent where earlier Koji's the the seems to of AI hear the role within It guess integrated into the is you I'd AI identified more bit now. conundrum love see the analytics that little of product question pop-ups how change experience. enterprise you becoming I

Spenser Skates

Yes.

things the a -- that. So okay, me hit big on few let different

value someone problem with of So insight know blocker is the digital analytics what to today standpoint. Amplitude to have in query, biggest manually to know they and big extract getting out there of or from what that the any go kind to an

SQL, AI or all now nontechnical the of data. folks this it's learn there's bit much in XXX% of just part the That's an hey, in you, can easier of Can than time. saw have the just Now a that's back? of have usage feature data release, today it but have over they we do and over we What's surfacing still looking this you a to only combing over more if a the because valuable XXXx AI can more using about hey, bug it looking all you much roll data then here. it the valuable you it, humans instead time that little have so that are, is spike you

So that's valuable. incredibly

it block all to had because came advertising it's online be of web I there front, funny you you're blocking doing pop-up like of those the of a to the whole On in actually gives first late end just cycle get and experience And these that. it's like it best from them actually not user realize, goal this it's impressions, even to any user getting is a if faster. the and to the 'XXs, actually create lot more think the not hey, when reminds you're fact, of me 'XXs companies and -- your actually kind to your compelling pop-ups technology a way not

the and funny the in to that back era -- the -- part seeing guides. is kind we're pop-up ironic so with of things And same we're happen we're that seeing

whole at and it's blindness all hey, For increases starting to pop-up of actually users like thing holistically engagement. them application, -- to -- any and it But are stuff. like experience, when in then it's the and you worse so you're going look given get spans sorts worse yes, pop-up a see, it a overall,

Surveys and integrated data And is so being with part advantage Guides of can you customize. of the analytics the

like So them a likes intervene you see can you can latest showed you power if see the feature. updates you feature, confused, then the Or the give is specifically. user confusion, user really if hey, I on that a

Guides be And from at kind tailored think right to And that time. that the pop-up so like customized you're and right seen giving median to that's the a get the than average we've guides just XXx more spam much I engagement higher you that rates a -- the of Surveys on user Xx product.

Clark Wright

you. quick And for then, Andrew, a one

guess, or terms maybe the drivers see how linearity of revenue growth I be we the ARR of as ARR of the growth thinking continuing some growth forward? of that delta going the and In kind 'XX, acceleration should we about for between in

Andrew Casey

we're on up, you, tell a with I'd of in levers pulling and lot or in really changes pleased progress we're are making terms of changes pricing the that really we're coverage are think whether showing the Well, we working first, in segmentation, you about our model.

place focus. Our enterprise model are is we All the and put in instrumentation emphasize really contract those duration increasing. things to

have. investments XXXX. it's we made continue continued And to that would been see show ourselves Day just so expect if more are disclosures be And a to position We those how have. see and increasing on really Investor we up that we'll lot progress. certainly tell we're you and a execute, about the I to going talking we'll But our starting growth journey I to throughout to that

John Streppa

the from Kyle Nick of come believe of I Jackson. on Scotiabank. will KeyBanc, is Ader followed question line next for from Altmann Jackson Our by

Unknown Analyst

a year. on on think quick for of about Kyle here. throughout shape just revenue the question growth the how Jackson Maybe we

think on out of on and or think more important? And then kind just kind still could little more macro fourth you to you As growth a to should guys of quarter larger bit there international -- I anything begin of the alluded a North third becoming squishy customers. there about more the enterprise some becomes kind guys to and Is focus between quarter we with revenue? the American sequentially you and of prevalent, being it kind period call

Andrew Casey

So I'll start.

Spenser Skates

it. Yes. for Go

Andrew Casey

right. All

enterprise, year-end, towards ARR for that strongest plans it's percentage first, and where we our on typical -- and are we're making the it's we're absolutely this year. whereas beginning those The the sales is you more and more quotas classic potentially calendar with have model So of very the more products like software a a rolling companies new annual did working the think see we is exhibiting towards the right. I and retraining sales team. a of where year we that, enterprise We're performance out see that people investments, QX, moving annual that are territories, we're in changing very

lightest period that growth. level so be of we'll under And the to see tends which a

from linearity that from is should start where perspective. software very thinking classically about our you it So enterprise

a in the our having Now way. enterprise business say our starting in in up we said show pipeline to probably A forward pipelines are XX% pipeline to that, I and meaningful think investments ago, XX%. last year made year was you'd

we're Now at of upwards clients. XX% enterprise representing

way, the in of and up cycles, a So have we're think levers impact a the why bit more forward about the are they they the sales material a showing underpinnings we that they pulled, are guidance. although little positive reason we certainly the lagging of

Spenser Skates

I'd make more quarter-to-quarter that be is revenue concentrated, new is is variability other call out because the The higher. more to and going one enterprise

a good we relative obviously, a basis. had on QX So

one how QX I to the but and deal you'll weighting quarter higher variability. a QX little come exactly QX or versus QX, lower weighting to to or you To the bigger QX, I So probably as Andrew's to in next. a there's variability does be impact going compared will be just sign think large deals to think push little quarter-to-quarter point, a compare have

And that demonstrated QX. the thing we're we're on in I we've path while that be biggest -- business, would reaccelerating said the the so

year. demonstrate Exactly this to change. it how may expect quarter-to-quarter manifests that We

Andrew Casey

we I new saw was same that, many just at as And QX, not in maybe Yes. had least to to of you a much actually the where in really it. of we QX, number QX logo, expansions not in enterprise lands. one not add we the too, new think saw of expansions that new large record number QX number that size lands had as a of where and

more broad-based very much customers expanding it's the for well sets in future. So and up us those

Spenser Skates

second question? the I was part what forgot. Sorry, the of

Unknown Analyst

Yes.

between any in meaningful call there you strength Just was versus saw anything if to international? America out around North if bifurcation

Spenser Skates

anything you you -- don't Andrew, so, want did add? I think to

Andrew Casey

that want not I No, to call out.

changes in would a lot to engages just press certainly, dollar you think from some But of be with of of hear FX U.S. I out transactions. others. tell there, I Amplitude our the you, clear, the majority

anticipating we although any to So don't deals, foreign currency translations we from major growth. impacts really really in a with on discounting not could see translation on some we're -- to headwinds perspective, respect respect

Spenser Skates

teams our both, want QX Kudos both Yes. achievement. to in pretty terms actually call to putting great for out EMEA our broad-based teams and results. APJ was of up I

good was So it board. across the

John Streppa

McGinnis Our from next by Altmann from followed question come Nick Taylor of Scotiabank, UBS. will

Nicholas Altmann

those going of sort the forward, to new the alluded of trending? the play seeing talked guys the about of out recent side cohorts, those record to especially strategy a the expansion. some the equation. just enterprise in you're net going on in or that's I how you focus expansion your large customer with just a about of going know ASPs, -- And actually of expect land healthier are sort level at Can talk customers? right, Clearly, lands do how maybe more forward quarter. you've enterprise You customer Because cadences you

for So customers? expect maybe enterprise land of any about just you color motion those basis then provide the how talk kind for and as you expansion the to strength of the go-forward a sort can on ASPs

Andrew Casey

we're still in expansion that's still So that $XXX,XXX thing there's with starting when not GX predominance I'll land of material of take point. a day. XX at there's But potential the customers engine they story, the and to capabilities, understand to proposition. And the even our willing land that the they're seeing with value understand rollout happen creating. is with of we're long-term they more but Amplitude understand and invest more multiproduct. the all change you land And because analytics a a of innovation especially with a the land times interesting they really as them consider They ASPs have starting any the may

] increasingly push customers. But appealing and but there's we're definitely on we're think enterprise things about didn't detail for robust set one how thinking bit just we the now. each more [ bit a of little where those pull And little both go trying them We're have about accounts. I'll for NRR of so of to right our bit to we you going have balance those and clients, we'll going of that on expansions GXK in have potential little offering as is capabilities traditional historically. Investor to to targeting a a Day, I a be think

and it's So a of little bit push pull.

Spenser Skates

replace faster Yes. I the wanted mention The I is analytics didn't to enterprise that we're to one seeing trend in legacy that call out MarTech time prepared solutions. remarks

a come And few the actually -- wholesale. so there's replaced cases and thing been we've in sometimes whole where

can off If in to right legacy alongside run normally, side Amplitude." we're solution seeing X you they're back X over shut the go to go happen that to kind "Hey, the And going years, were now down enterprise them come and we'd replacements land saying, by direct side. where bat. more to sometimes we're of But and MarTech this

really to or is to -- you biggest the thing. I you that land year care full replacement. it me the Sometimes and the about takes X, a small don't start go But the to to obviously, of analytics, win. if a it as gets land where for Amplitude record using I'd But system the that's same away. right point the customer digital they're love

happened this happened and year that of cases in where that last And year. want bunch happen. so seeing a so we that we're We're seeing to that prior, the hasn't accelerate

John Streppa

come question Tyler McGinnis from the from Citi. Our of followed UBS, will line Radke Taylor next by from

Taylor McGinnis

I'd just how are conversations love to hear evolving. customer your

pipeline cross-sell? improving? -- starting the reason in like growth? improvement the lot why coming date if talked Is because ask have so, volume you I of about is to So by are you evidence that that improvement in seems of that And guys a upsells from a return is more to it driven net see the being Is churn. of that

we in just new base about upsells I bigger think that those net lead start from guess, customer inflection like ARR, we your any to there? when as or insight, guys see a maybe you net So are could to getting NRR

Spenser Skates

Yes.

So things. few I want a to separate

coming from more First, I change on is of is the biggest it of think platform. cross-sell much the the upsells

So it's Today, it's like less actually XXXX, universally platform if you -- volume. of the majority to upsells. those is were

So activation, have going Surveys, call Session you. to used we Replay, which and CDP, Guides what experiment,

going And and a as volume in I'm it's more up you're you're mean know because so data confident not that's, by like, that buying versus, I'm buyer just okay, getting very worrying more me, more value doesn't hey, getting then about I'm to volume. healthy you -- necessarily because

prepared of only. growth great analytics hey, XX% So are remarks, that, last talked about, part some still I my to in customers drove just year think, -- I of

So there's upside lot still of next expansion trend. few -- that a over on the we see years

Now on in separate from that, I the elements particular, X with think have you churn big analytics ones.

of large The first the down other market. is and rightsizing is contracts then

So the we most now but fear, of a past of with a rightsizing we're them. are bit that's of little contracts, large always --

maybe were we before had quarter X X So with or a risk. big that dealing

X, X, risk. between have dealing Now maybe of with we're in sort somewhere X a that quarter that

dollar year was we're to -- that more when normal rate -- this they're tech run risk it's companies significantly spend. you than at last that of peak always where that. there's looking were, more reduce we now year contracts multi-million have So the and of But of kind a

I part is haven't the that think where of is drive seen improvement market. want place where end the and to of structurally to we churn growth improve one we yet, will really continue lower but this on the on

So business on is. level is continues particularly with be, start-ups that tech and a that to companies some what it going

downmarket like, as that there. happens focus a a larger enterprise, part of will from of that our headwind right, on less transition the thing and And And be the is to make smaller, ARR stuff proportion is of all growth. so come

go expect improvement. see this I improvement through I So all to we do to say year. do That's to expect that as from see

Taylor McGinnis

the into But then the -- fall trends you follow-up. uncertainty first away how and ARR how XQ the ARR a on Perfect. [ ] of you net Andrew, little maybe probably more like help in us in And can Anything from trend can terms might a can year how that can provide just XQ? bit throughout and new there's trend. color know that take saw we can maybe quarter? we I

Andrew Casey

we're from situation very making changes is was segmentation. like said a changes to reset. have always QX in in and our In product where you territory business, you think calendar-based, I QX our setups, I much before positioning,

time. So little that takes a all

amount in ought from So an going think you're doing you QX that a be think to the our reset. is strongest will because quarter-over-quarter decline period terms perspective total and to likely of show in I QX ARR

the focusing set that, the capabilities is getting the have, we're we're You're full get teams new introducing. platform, the all to time we way year. everything out right on optimistic incredibly said settled, comp and about the up plans the selling sales Having taking for pipelines

the a I pattern you'll that So see exhibits think us ramping year. throughout

John Streppa

comes Blair. question from next believe from Arjun Tyler. Ashley Radke Our from I followed for Bhatia is Tyler William Citi, Kim on by

Ashley Kim

of the for guidance Just newer at Amplitude this wanted momentum some how about for products and baked ask much to the into the it's year?

Andrew Casey

products investments is and guidance of from we're set reflective certainly, product, not clients. I the important an would So They the are having driving greater our more Any to us. customers that, our for we're delivering is our are of But driving enterprise said opportunities. taking incremental equally you, perspective. as and and tell our platform frankly, for value broader actions one new value total

in and line we the Having growth. having is our I through fuel will greater detrimental which particular, them So very it's really product by our wouldn't would drive guidance our to greater break down be products but not growth.

Ashley Kim

Got could more it. one question. I if maybe And in squeeze

call, mentioned some that the during you're think I potential accounts you churn. key for watching

accounts and mitigate ask more color could risk. wanted provide you doing Just those to a any you're on if to what bit

Spenser Skates

Yes.

other between contraction. to want churn X distinguish actually I then is One the is terms. and Sorry.

like the it, concern of contraction. For is key XX% accounts,

value. still customers, Amplitude be generate managing spend. with still will still how want renewal to there'll year-to-year they'll us, just those It's they much their So use actually

from seen watching. the significantly come has that down. we're risk We've that so that's And what

we those the vast of Now kind are watching of you're but think quarter-to-quarter. at right size, it majority customers always

place. to we're about versus kind but we stay larger over the the churning, levels even accounts within spend make so of sure their concerned want And all any of really that not

John Streppa

from Baird. Rob Oliver next Arjun R.W. is Our Bhatia question from by Blair, followed from William

Arjun Bhatia

as have just Congrats are different will that's interface you the kind change you on that And that customers systems in terms movement as on product into of these one with QX that larger needs to From done the development a about enterprise. that about here. thinking is maybe perspective, more for be anything of or or there have left have nice to move we're that think the with Spenser, the R&D upmarket? regular you a basis? you, how there or integrate you do still to integrations

Spenser Skates

like integration there's requirements. not It's for and compliance always one It's Yes. forever. like growing I'll of enterprises you big any There's thing. a solve like, list or do call a data and this out few.

remarks which in did -- first controls. one year, data we big I mentioned access First is that prepared last the

on platform able a assign that's being So to the different users have make access sure to to to deal data. different big

data only PII that's anything or only see people revenue can or So certain protected. people certain see can

certain access of of So enterprises. The from access is access bits a they people. so so thing that of capability, protecting you that have build which and was data Role-based very are doing that controls important we're access the was larger that customize that functionality roles to you're controls certain the controls, role-based particularly database on the sort allowing -- to to.

a this for for key map that's be enterprise so to road on customers. And going that's -- our our year requirement of bunch a and

a standpoint. the from is -- that's security of -- other The bucket first kind

data is be like it cloud a data it store, place. it data standpoint, see, be in Databricks, may is internal or be data one on warehouse may And data the Snowflake on second the of may The enterprises, over all particularly larger the at store. you their own from things

the And where have more to work customization at. do with you so to data is

we Amplitude constantly store that things is with a just mutability, big data set you the the how in of which sync that's data do One keep data is changing. on delivered

that just cloud able Oracle do Data other or to can think, a to like continuing to a of of Cloud lift okay, some And go we'll source. we the version do you natural So well, on it's ROI come ago. from get not on the purchase, for on or month a that. we how requirements this they you Amplitude They're to short-term like reflect that's them. side best be delivered and as do, prioritize data going So the user and like, make massive has a part well? what particular data just be us And to up, upmarket more first let's sure X there's then say, as make refunds that, I data

Arjun Bhatia

Okay. helpful. then Super And for one Andrew. Perfect.

at is this giving time Just first I your know maybe Amplitude. guidance

macro for embedding guidance year can you us maybe understand the what at can in and the your help is cushion initial But improved a us headwind least, the still and execution give has sense for in sounds for just a that maybe full you're not or us and like outlook you So conservatism baking philosophy -- help or outlook you're understand XXXX? It yet. in.

Andrew Casey

doing up our the guidance. shows And our will in can and we is way, really pipeline. macro you and dynamics operate you, around guidance. By drive how go I the general model, has future for be rates progress around a that products itself. by tell pipeline the mean we're lens I'll that of things on we And that focus coverage pricing we're introducing, and those packaging, the guidance our on execution, we of is able our control. that the things the We are to that I and value underpinnings basis our what can use Well, guidance clients. rooted of conversion That what tell betting I'm the is establish not is things to improvements what in

QX, And philosophy about with growth leverage. talked a so in having I of

pattern and XXXX, itself that I'll making least if at are the the and expenses what of at some getting we've on greater us the that call should forward fiscal we investments, then year, the grow QX, and will, sales In drive the kickoff customers. enable throughout see period. is more All effective, of call and you kickoff got associated move rate, in teams making the nonrecurring investments the they with year, our right greater of for as to predicated business. are, You'll scale higher marketing it, and And guidance understanding a data programs on the convert those that. for targeting things better

John Streppa

question our Porter Elizabeth And next then question from from Baird. Rob with Oliver will Morgan Our be is Stanley. from last

Robert Oliver

is My car. I'm a the hiding fact background that in

for So apologize I that.

nice So those accounts. investment the end-of-life guys that be you a are given Spenser, AI, the juxtaposition seen those you guys that have the must Google and from now made you've some in of product the yes, pretty to have a And market. couple questions. in One, platform, traction called all of generative Analytics curious the out really hear, stunning I'd be it and for

expect those throughout migrate that just behind there are what big are. will to a I customers And still I'm now? curious to So follow-up know us Andrew. Is conversations had over? here then bolus XXXX Or you for

Spenser Skates

Yes.

of the like potential it's understand, most guys course, XX% on So not of it's on got websites So -- aren't Google paying, are Analytics, thing, to like this a you it's huge them customers. of but ocean okay? of

we our Analytics, more so continue continue from building to And Google leadership come to going versus more as and that. see we're

someone how upgrade smooth, about like, like this oh, be way digital is marketing where at it Analytics it I think looks analytics out easy is time to create we think is over what I application starter starts God, about product the the going that kind -- is almost to of way with. And or do you a Google every Amplitude person think path better.

doing and bunch to specifically announce that I going tailwind. will bit to a So digital -- see to that's be on help that a a analytics QX. be continue think within going we'll We're in that, we'll quite that on improve actually marketing

decade expect for for to be relevant us. that the I So next

Robert Oliver

in Helpful. here when or aligning your And a really value, could team, you good like these And you -- from customers you think for this guys well. offer Spenser then, sounds and one we get some returns that you more at mentioned with these the Got done prepared XX% it. product. you customers get strategic time It remarks, lot mentioned accounts focused work they really around be Andrew, also the deep I them. customers still for Spenser as into guys have whereas to have a nice

know that the to of very team and quarter I'm -- strategic now now the seen now, helping quarters in your your I of guess Andrew, that changes key that of from So second chance I down-sell would how few that less, them play large or I curious of that -- are down to enterprise? And in your generation the your help been number what is think per you've and How I customers think does with I'd any at renew would in potentially that be part X this a seat be, going traction accounts that not risk? for, having perspective, sort those customers, team the if to mitigate X, having mitigate a mistaken. role this but would terms had pipeline for what's is risk.

Andrew Casey

in a there. There's couple good of questions

accounts, doing ways. needs. digitally that is effective engage of know sales how captured customers. every understanding their the they're strategic we better But can first, to those there And data out are that and being deployed the start their with these by with really they existing and don't because when trying adjusting prospects unless of they let on customers investment different elements the engagements out figure it So they're lots in they're high-value there's customer me teams both

up those or the more their products effective engage how this to a services way. effective they in the clients that was in struggling, trying and more after world So go to a really in to figure largest GXKs team digitally with clients deliver set way out are

be an recognize uniquely and positioned problems is we understands team more It one are understands those to customers' a effective and generated. The solve under that itself innovating. not we effective. analytics because and analytics product, so you the more it's different having can derive we're getting And this how the around a that gets that of sales enterprise-focused product more can insights being lot a services just and which increasingly classic is problems is product

at value purchases to increase, growth they and greater rates and customers' Amplitude. And RPO with clients, the And of gives more and a earn get the with Amplitude right multi-product contract engage so get. as happens see the greater critical their durations point that The clients in you us more the clients. value operations. us to driving retention revenue which into they what generate we clients capability delivering that part effective greater those will with essential are in And is visibility reward the now their to engagements improve of a more see our to our because by that greater revenue. extreme our we're to really we Gross

frankly, creating products all and needs that fulfill the of reduction the underpinnings those are strategy so activities And these long-term. invested our in churn great the around we've that and enterprise growth

John Streppa

Morgan And our Porter from last come question line the Elizabeth will of at Stanley.

Elizabeth Elliott

XX I only wanted to that base double-click on product. Amplitude that of opportunity X to better customers using cross-sell the are

for like together the sense really because what lot kind been of biggest together. the us help putting just adoption, that you seems a have of you're unlock? multi-product that it can So Is hurdles we related, drive understand portfolio the makes kind do pricing go-to-market needed? there could that that's kind of what's strategy more really bundling? education And of Is on it just to something and

Spenser Skates

Yes. Great question, Elizabeth.

actually well lands So were last XX% particularly quarter understand customers, with I our done multiple mentioned is products. we're new think a of platform. larger what we've them helping I that

was So that great.

renewals. The see we've last job not a on think customer existing portion was motion the the reflect base, of you'll a I new did as make rest. part that got and do good user think we up the well larger customers as I dialed, on year that of

some And this we're for we training that renewal. And up it's just much XX% XX%, we in prior. to of easy think what It's their box to keep us. have buying this to and on us specifically renewals, drive I products the see Once case." them get for less. put in to incentives kind which rate demo doing use it's think for like of of easy much, put multi-product realizing, we and analytics, just the you're additional salesperson let's specific give say, didn't me so call year and place "Hey, analytics and

the that's the to -- getting become multiple of So for products, kind base to us. over lever turn renewal existing the big

Elizabeth Elliott

then And a follow-up. it. as Got just

around there's On how of we lot get model? investment? understand more think the a opportunity, potentially the this curious investments upside to the of better that about to the go-to-market. should push margin it you year, going side, mid-term Or we're I gas particularly sort see flowing just to is top Or given margin? guys through But that just any the visibility philosophically towards on line likely

Spenser Skates

time that in is. would talking where the about suggest to that. we G&A, not indicators be talked we've in and lot given and the that tell increased I data go of in were to what And a quite QX, again perspective sales an productivity I you to as and was QX, areas think I say the We're invest sales are yet. where would we has XXXX, certainly in there would curve call, you highlighted expect. point not And marketing, were in want that do productivity at we earlier we're I far they I about telling made them investments that, the as more not it's would marketing is a that that efficiency we

we we're the be XXXX, going that leverage. I expecting that, to certainly of so with doing And you thinking we're to would are tell going come that's amount throughout growth

John Streppa

Thank Thank you. And fourth that for your you call. will conclude quarter and interest. time our earnings

to attend are please our starting in but have person, out to We March ir@amplitude.com. Time. to New if like Day excited X:XX NASDAQ York on would in Investor We do reach at limited capacity, XX site at market Eastern me the p.m. you host at City

and attending take by Thank number including care. In Fitzgerald. quarter, to addition of KeyBanc a JMP, Cantor Investor this our Day, be we and will Baird, conferences those Stanley, Morgan hosted you

Spenser Skates

all. you Thank

Andrew Casey

you. Thank

Operator

Goodbye.

Amplitude (AMPL) 19 Feb 252024 Q4 Earnings call transcript