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Earnings Call Summary | Amplitude(AMPL.US) Q1 2024 Earnings Conference

Futu News ·  May 10 22:11  · Conference Call

The following is a summary of the Amplitude, Inc. (AMPL) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Amplitude reported Q1 revenue of $72.6 million, marking a 9% YoY increase.

  • Annual Recurring Revenue witnessed an addition of $4 million from the last quarter, totaling to $285 million.

  • Company's gross margin rose to 76% in Q1.

  • Operating profit registered a loss of $2.1 million or 3% of revenue.

  • Approximately 3000 paid customers marked a 37% YoY growth.

  • Predicted revenues for Q2 range between $71.7 million and $72.3 million.

  • Full-year revenue estimates lie between $292.5 million and $295.5 million.

Business Progress:

  • The company is investing significantly in product innovation to offer a comprehensive digital analytics platform.

  • Efforts towards better alignment with enterprise business are ongoing with growth in accounts contributing $100,000 or more of ARR.

  • There have been new or expanding business relationships with Decathlon SE, Algolia, and WOOP.

  • Preparations for a technological disruption with an increase in end-user data access, especially in AI domain are underway.

  • An uptick in the adoption of non-analytics products has been noted.

  • A projected decrease in churn rates is expected in Q3 2024.

  • The company is adopting a strategy for increased accessibility across all customer levels to aid long-term growth.

More details: Amplitude IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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