Amplitude, Inc. (NASDAQ:AMPL) Q1 2022 Earnings Conference Call May 4, 2022 5:00 PM ET

Company Participants

Nicole Borsje - Investor Relations

Spenser Skates - Chief Executive Officer and Co-Founder

Hoang Vuong - Chief Financial Officer

Conference Call Participants

Tyler Radke - Citi

Arjun Bhatia - William Blair

Koji Ikeda - BoA

Shrenik Kothari - Baird

Claire Gerdes - UBS

Nicole Borsje

Hello, everyone. Welcome to Amplitude’s First Quarter 2022 Earnings Conference Call. I am Nicole Borsje from the Blueshirt Group. Joining me today 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 second quarter and full year 2022, the expected performance of our products, our expected quarterly and long-term growth, accelerated investments and our overall future prospects. These forward-looking statements are based on current information, assumptions and expectations that 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 Securities and Exchange Commission. 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. We use these non-GAAP financial measures internally to facilitate analysis of our financial and business trends and for internal planning and forecasting purposes. These non-GAAP financial measures have limitations and should not be used in isolation from, or substitute for financial information prepared in accordance with GAAP. A reconciliation between these GAAP and non-GAAP financial measures is included in our earnings press release, which can be found in our Investor Relations website at investors.amplitude.com.

With that, I will hand the call over to Spenser.

Spenser Skates

Thanks, Nicole and good afternoon to everyone. Appreciate you joining us for our Q1 2022 earnings call. Amplitude had a strong first quarter, reflecting the market’s increasing demand for digital optimization. We closed out the quarter with $53.1 million in revenue, up 60% year-over-year. We also added more than 100 paying customers, which was up 49% annually and totaling just over 1,700. We continue to see great traction with our new products, Experiment and Recommend and strong expanding usage of our digital optimization suite. This was further demonstrated by a dollar-based net retention rate of 126%, which increased by 800 basis points year-over-year.