Amplitude, Inc. (NASDAQ:AMPL) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET

Company Participants

Yaoxian Chew - Vice President, Investor Relations
Spenser Skates - Chief Executive Officer & Founder
Andrew Casey - Chief Financial Officer
Mike Dean - Vice President, Corporate Controller

Conference Call Participants

Koji Ikeda - Bank of America
Arjun Bhatia - Blair
Nick Altmann - Scotia
Rob Oliver - Baird
Claire Gerdes - USB
Jackson Ader - KeyBanc
Elizabeth Porter - Morgan Stanley
Clark Wright - DA Davidson

Yaoxian Chew

Hello, everyone. Welcome to Amplitude’s Second Quarter 2024 Earnings Conference Call. I am Yaoxian Chew, Vice President of Investor Relations. Joining me here are Spenser Skates, CEO and Co-Founder of Amplitude; Andrew Cassey, Chief Financial Officer; and Mike Dean, VP Corporate Controller.

During today's call management will make forward-looking statements including statements regarding our financial outlook for the second quarter and full year 2024. The expected performance of our products, our expected quarterly and long-term growth, investments and 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 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 in today's call 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 as a substitute for financial information prepared in accordance with GAAP.

A reconciliation between this GAAP and non-GAAP financial measures is included in our earnings press release, which can be found on our Investor Relations website at investors@Amplitude.com.

With that, I'll hand the call over to Spenser.

Spenser Skates

Thanks Yao, and good afternoon, everyone. Welcome to our 2024 first quarter earnings call. I'm going to focus on three topics today. Q2 financial results and what we're seeing, how we're going after our market opportunity, and continued product innovation and customer stories. I'm pleased to report that we beat across all guided metrics this quarter. Our second quarter revenue was $73.3 million, up 8% year-over-year. Annual recurring revenue was $290 million, up $5 million from the end of the first quarter. We now have more than 3,200 paying customers.