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

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