- Second quarter revenue of $67.8 million, up 17%
year-over-year
- Number of paying customers grew 28% year-over-year to
2,344
- Cash Flow from Operations of $20.4 million and Free Cash Flow
of $19.3 million
Amplitude, Inc. (Nasdaq: AMPL), a leading digital analytics
platform, today announced financial results for its second quarter
ended June 30, 2023.
“Every business with a digital product and a digital experience
for its customers needs to know more about what those customers
love, what causes them to get stuck, and what keeps them coming
back,” said Spenser Skates, CEO and co-founder of Amplitude.
“Companies of all shapes and sizes are finding that legacy
approaches cannot sufficiently address the universal needs of
acquisition, retention and monetization. Everyone wants to
understand their customers better — Amplitude tells you exactly
what your customers do and how they behave.”
Second Quarter 2023 Financial
Highlights:
(in millions, except per share and
percentage amounts)
Second Quarter 2023
Second Quarter 2022
Y/Y Change
Annual Recurring Revenue
$
268
$
227
18
%
Revenue
$
67.8
$
58.1
17
%
GAAP Loss from Operations
$
(30.9
)
$
(24.6
)
$
(6.3
)
Non-GAAP Loss from Operations
$
(0.8
)
$
(9.0
)
$
8.2
GAAP Net Loss Per Share, Basic and
Diluted
$
(0.24
)
$
(0.22
)
$
(0.02
)
Non-GAAP Net Income (Loss) Per Share,
Diluted
$
0.02
$
(0.08
)
$
0.10
Net Cash Provided by Operating
Activities
$
20.4
$
10.6
$
9.8
Free Cash Flow
$
19.3
$
8.2
$
11.1
Remaining Performance Obligations
$
246.3
$
227.6
8
%
Current Remaining Performance
Obligations
$
191.8
$
170.2
13
%
Non-GAAP loss from operations and non-GAAP net income (loss) per
share exclude expenses related to stock-based compensation expense
and related employer payroll taxes, amortization of acquired
intangible assets, and non-recurring costs such as restructuring
and other related charges. Stock-based compensation expense,
exclusive of those related to our restructuring, and the related
employer payroll taxes were $21.6 million in the second quarter of
2023 compared to $15.1 million in the second quarter of 2022. This
increase was primarily driven by increases in employee headcount.
Restructuring and other related charges were $8.2 million in the
second quarter of 2023, which did not occur in the comparative
period. Free cash flow is GAAP net cash provided by operating
activities, less cash used for purchases of property and equipment
and capitalized internal-use software costs. Free cash flow
included $3.8 million of restructuring costs paid in the second
quarter 2023. The section titled "Non-GAAP Financial Measures"
below contains a description of the non-GAAP financial measures and
reconciliations between historical GAAP and non-GAAP information
are contained in the tables below.
Second Quarter and Recent Business Highlights:
- Number of paying customers grew 28% year-over-year to
2,344.
- Annual Recurring Revenue was $268 million, an increase of 18%
year-over-year and an increase of $6 million compared to the first
quarter of 2023.
- GAAP Net Loss per share was $0.24, based on 116.2 million
shares, compared to a loss of $0.22 per share, based on 111.0
million shares, in the second quarter of 2022.
- Non-GAAP Net Income per share was $0.02, based on 126.3 million
diluted shares, compared to a loss of $0.08 per share, based on
111.0 million diluted shares, in the second quarter of 2022.
- Cash Flow from Operations was $20.4 million, an increase of 92%
year over year.
- Free Cash Flow was $19.3 million, an increase of 137% year over
year.
- Announced a suite of AI-powered features to help companies
build great digital products. Capabilities include Ask Amplitude –
a simplified approach to chart-building; and Data Assistant – an
automated way to improve data quality and governance.
Financial Outlook:
The third quarter and full year 2023 outlook information
provided below is based on Amplitude’s current estimates and is not
a guarantee of future performance. These statements are
forward-looking and actual results may differ materially. Refer to
the “Forward-Looking Statements” section below for information on
the factors that could cause Amplitude’s actual results to differ
materially from these forward-looking statements.
For the third quarter and full year 2023, the Company
expects:
Third Quarter 2023
Full Year 2023
Revenue
$69.7 - $70.3 million
$273.6 - $275.6 million
Non-GAAP Operating Income (Loss)
$0.6 - $1.0 million
$(7.6) - $(5.2) million
Non-GAAP Net Income Per Share, Diluted
$0.02 - $0.03
$0.02 - $0.04
Weighted Average Shares Outstanding,
Diluted
128.3 million
127.6 million
The impact of restructuring charges, which include employee
severance and termination benefits, are excluded from our non-GAAP
operating income and non-GAAP net income per common share business
outlook.
An outlook for GAAP loss from operations, GAAP operating margin,
GAAP net income, GAAP net income per share and a reconciliation of
expected non-GAAP loss from operations to GAAP loss from
operations, expected non-GAAP operating margin to GAAP operating
margin, expected non-GAAP net income to GAAP net income, and
expected non-GAAP net income per share to GAAP net income per share
have not been provided as the quantification of certain items
included in the calculation of GAAP loss from operations, GAAP
operating margin, GAAP net income and GAAP net income per share
cannot be reasonably calculated or predicted at this time without
unreasonable efforts. For example, the non-GAAP adjustment for
stock-based compensation expense requires additional inputs such as
the number and value of awards granted that are not currently
ascertainable, and the non-GAAP adjustment for amortization of
acquired intangible assets depends on the timing and value of
intangible assets acquired that cannot be accurately
forecasted.
Conference Call Information:
Amplitude will host a live video webcast to discuss its
financial results for its second quarter ended June 30, 2023, as
well as the financial outlook for its third quarter and full year
2023 today at 2:00 PM Pacific Time / 5:00 PM Eastern Time.
Interested parties may access the webcast, earnings press release,
and investor presentation on the events section of Amplitude’s
investor relations website at investors.amplitude.com. A replay
will be available in the same location a few hours after the
conclusion of the live webcast.
Forward-Looking Statements:
This press release contains express and implied "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements regarding the Company’s
financial outlook for the third quarter and full year 2023, the
Company’s growth strategy and business aspirations and its market
position and market opportunity. These statements are often, but
not always, made through the use of words or phrases such as “may,”
“should,” “could,” “predict,” “potential,” “believe,” “expect,”
“continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,”
“plan,” “projection,” “would,” and “outlook,” or the negative
version of those words or phrases or other comparable words or
phrases of a future or forward-looking nature. These
forward-looking statements are not statements of historical fact,
and are based on current expectations, estimates, and projections
about the Company’s industry as well as certain assumptions made by
management, many of which, by their nature, are inherently
uncertain and beyond the Company’s control. These statements are
subject to numerous uncertainties and risks that could cause actual
results, performance, or achievement to differ materially and
adversely from those anticipated or implied in the statements,
including risks related to: the Company’s limited operating history
and rapid growth over the last several years, which makes it
difficult to forecast the Company’s future results of operations;
the Company’s history of losses; any decline in the Company’s
customer retention or expansion of its commercial relationships
with existing customers or an inability to attract new customers;
expected fluctuations in the Company’s financial results, making it
difficult to project future results; the Company’s focus on sales
to larger organizations and potentially increased dependency on
those relationships, which may increase the variability of the
Company’s sales cycles and results of operations; downturns or
upturns in new sales, which may not be immediately reflected in the
Company’s results of operations and may be difficult to discern;
unfavorable conditions in the Company’s industry or the global
economy, or reductions in information technology spending, which
could limit the Company’s ability to grow its business; the
Company’s recent restructuring plan, which may not result in
anticipated savings or operational efficiencies and could result in
total costs and expenses that are greater than expected; the market
for SaaS applications, which may develop more slowly than the
Company expects or decline; the Company’s intellectual property
rights, which may not protect its business or provide the Company
with a competitive advantage; and evolving privacy and other
data-related laws. Additional risks and uncertainties that could
cause actual outcomes and results to differ materially from those
contemplated by the forward-looking statements are or will be
included under the caption "Risk Factors" and elsewhere in the
reports and other documents that the Company files with the
Securities and Exchange Commission (the “SEC”) from time to time,
including the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2022, which was filed with the SEC on
February 16, 2023, and the Company’s Quarterly Report on Form 10-Q
for the quarter ended June 30, 2023, which is being filed with the
SEC at or around the date hereof. The forward-looking statements
made in this press release relate only to events as of the date on
which the statements are made. The Company undertakes no obligation
to update any forward-looking statements made in this press release
to reflect events or circumstances after the date of this press
release or to reflect new information or the occurrence of
unanticipated events, except as required by law.
Non-GAAP Financial Measures:
This press release includes financial information that has not
been prepared in accordance with GAAP. The Company uses non-GAAP
financial measures internally in analyzing its financial results
and believes they are useful to investors, as a supplement to GAAP
measures, in evaluating the Company’s ongoing operational
performance. The Company believes that the use of these non-GAAP
financial measures provides an additional tool for investors to use
in evaluating ongoing operating results and trends and in comparing
the Company’s financial results with other companies in the
industry, many of which present similar non-GAAP financial measures
to investors. There are a number of limitations related to the use
of non-GAAP financial measures versus comparable financial measures
determined under GAAP. For example, other companies in the
Company’s industry may calculate these non-GAAP financial measures
differently or may use other measures to evaluate their
performance. In addition, free cash flow does not reflect the
Company’s future contractual commitments and the total increase or
decrease of its cash balance for a given period.
Non-GAAP financial measures should not be considered in
isolation from, or as a substitute for, financial information
prepared in accordance with GAAP. A reconciliation of the Company’s
non-GAAP financial measures to their most directly comparable GAAP
measures has been provided in the financial statement tables
included below in this press release. Investors are encouraged to
review the reconciliation of these non-GAAP financial measures to
their most directly comparable GAAP financial measures below.
Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP
Operating Expenses, Non-GAAP Loss from Operations, Non-GAAP
Operating Margin, Non-GAAP Net Income (Loss), and Non-GAAP Net
Income (Loss) per Share.
The Company defines these non-GAAP financial measures as their
respective GAAP measures, excluding expenses related to stock-based
compensation expense and related employer payroll taxes,
amortization of acquired intangible assets, and non-recurring costs
such as restructuring and other related charges. The Company
excludes stock-based compensation expense and related employer
payroll taxes, which is a non-cash expense, from certain of its
non-GAAP financial measures because it believes that excluding this
item provides meaningful supplemental information regarding
operational performance. The Company excludes amortization of
intangible assets, which is a non-cash expense, related to business
combinations from certain of its non-GAAP financial measures
because such expenses are related to business combinations and have
no direct correlation to the operation of the Company’s business.
Although the Company excludes these expenses from certain non-GAAP
financial measures, the revenue from acquired companies subsequent
to the date of acquisition is reflected in these measures and the
acquired intangible assets contribute to the Company’s revenue
generation. The Company excludes non-recurring costs from certain
of its non-GAAP financial measures because such expenses do not
repeat period over period and are not reflective of the ongoing
operation of the Company’s business.
The Company uses non-GAAP gross profit, non-GAAP gross margin,
non-GAAP operating expenses, non-GAAP loss from operations,
non-GAAP operating margin, non-GAAP net income (loss), and non-GAAP
net income (loss) per share in conjunction with its traditional
GAAP measures to evaluate the Company’s financial performance. The
Company believes that these measures provide its management, board
of directors, and investors consistency and comparability with its
past financial performance and facilitates period-to-period
comparisons of operations.
Free Cash Flow and Free Cash Flow Margin. The Company
defines free cash flow as net cash provided by (used in) operating
activities, less cash used for purchases of property and equipment
and capitalized internal-use software costs. Free cash flow margin
is calculated as free cash flow divided by total revenue. The
Company believes that free cash flow and free cash flow margin are
useful indicators of liquidity that provides its management, board
of directors, and investors with information about its future
ability to generate or use cash to enhance the strength of its
balance sheet and further invest in its business and pursue
potential strategic initiatives.
Definitions of Business Metrics:
Annual Recurring Revenue
The Company defines Annual Recurring Revenue (“ARR”) as the
annual recurring revenue of subscription agreements, including
certain premium professional services that are subject to
contractual subscription terms, at a point in time based on the
terms of customers’ contracts. ARR should be viewed independently
of revenue, and does not represent the Company’s GAAP revenue on an
annualized basis, as it is an operating metric that can be impacted
by contract start and end dates and renewal rates. ARR is also not
intended to be a forecast of revenue.
Dollar-based net retention rate
The Company calculates dollar-based net retention rate as of a
period end by starting with the ARR from the cohort of all
customers as of 12 months prior to such period-end (the “Prior
Period ARR”). The Company then calculates the ARR from these same
customers as of the current period-end (the “Current Period ARR”).
Current Period ARR includes any expansion and is net of contraction
or attrition over the last 12 months, but excludes ARR from new
customers as well as any overage charges in the current period. The
Company then divides the total Current Period ARR by the total
Prior Period ARR to arrive at the dollar-based net retention rate
("NRR"). The Company then calculates the weighted average of the
trailing 12-month dollar-based net retention rates, to arrive at
the dollar-based net retention rate (“NRR (TTM)”).
About Amplitude
Amplitude is a leading digital analytics platform that helps
companies unlock the power of their products. Over 2,300 customers,
including Atlassian, Jersey Mike’s, NBCUniversal, Shopify, and
Under Armour, rely on Amplitude to gain self-service visibility
into the entire customer journey. Amplitude guides companies every
step of the way as they capture data they can trust, uncover clear
insights about customer behavior, and take faster action. When
teams understand how people are using their products, they can
deliver better product experiences that drive growth. Amplitude is
the best-in-class analytics solution for product, data, and
marketing teams, ranked #1 in multiple categories in G2’s 2023
Summer Report. Learn how to optimize your digital products and
business at amplitude.com.
AMPLITUDE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands) June 30, 2023 December 31,
2022 (unaudited) Assets Current assets: Cash and cash
equivalents
$
234,363
$
218,494
Marketable securities, current
56,001
11,971
Accounts receivable, net
34,148
22,716
Prepaid expenses and other current assets
16,260
20,335
Deferred commissions, current
11,917
10,918
Total current assets
352,689
284,434
Marketable securities, noncurrent
28,391
71,217
Property and equipment, net
9,965
9,408
Intangible assets, net
1,243
2,022
Goodwill
4,073
4,073
Deferred commissions, noncurrent
25,614
25,799
Restricted cash, noncurrent
862
855
Operating lease right-of-use assets
7,791
9,593
Other noncurrent assets
3,989
6,354
Total assets
$
434,617
$
413,755
Liabilities and Stockholders' Equity Current liabilities: Accounts
payable
$
809
$
490
Accrued expenses
23,687
18,699
Deferred revenue
113,491
89,993
Total current liabilities
137,987
109,182
Operating lease liabilities, noncurrent
5,205
7,093
Noncurrent liabilities
2,575
2,511
Total liabilities
145,767
118,786
Stockholders’ equity: Common stock
1
1
Additional paid-in capital
616,953
568,889
Accumulated other comprehensive loss
(864
)
(754
)
Accumulated deficit
(327,240
)
(273,167
)
Total stockholders’ equity
288,850
294,969
Total liabilities and stockholders’ equity
$
434,617
$
413,755
AMPLITUDE, INC. CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS (In thousands, except per share amounts)
Three Months Ended June 30, Six Months Ended June 30,
2023
2022
2023
2022
(unaudited) (unaudited) (unaudited)
(unaudited) Revenue
$
67,767
$
58,130
$
134,244
$
111,195
Cost of revenue (1)
17,180
17,060
36,367
33,123
Gross profit
50,587
41,070
97,877
78,072
Operating expenses: Research and development (1)
$
22,435
$
20,306
$
46,143
$
36,807
Sales and marketing (1)
38,326
34,135
77,459
62,265
General and administrative (1)
12,519
11,212
26,141
25,574
Restructuring and other related charges (1)
8,194
—
8,194
—
Total operating expenses
81,474
65,653
157,937
124,646
Loss from operations
(30,887
)
(24,583
)
(60,060
)
(46,574
)
Other income (expense), net
3,307
293
6,445
379
Loss before provision for (benefit from) income taxes
(27,580
)
(24,290
)
(53,615
)
(46,195
)
Provision for (benefit from) income taxes
178
278
458
593
Net loss
$
(27,758
)
$
(24,568
)
$
(54,073
)
$
(46,788
)
Net loss per share Basic and diluted
$
(0.24
)
$
(0.22
)
$
(0.47
)
$
(0.42
)
Weighted-average shares used in calculating net loss per share:
Basic and diluted
116,174
111,036
115,277
110,297
(1) Amounts include stock-based compensation expense as
follows:
Three Months Ended June 30, Six Months Ended
June 30,
2023
2022
2023
2022
Cost of revenue
$
1,687
$
1,669
$
3,479
$
2,592
Research and development
9,309
7,383
17,888
11,667
Sales and marketing
7,466
3,206
13,834
6,445
General and administrative
2,648
2,578
5,866
7,635
Restructuring and other related charges
853
—
853
—
Total stock-based compensation expense
$
21,963
$
14,836
$
41,920
$
28,339
AMPLITUDE, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS (In thousands) Three Months Ended June 30,
Six Months Ended June 30,
2023
2022
2023
2022
(unaudited) (unaudited) (unaudited)
(unaudited) Cash flows from operating activities: Net loss
$
(27,758
)
$
(24,568
)
$
(54,073
)
$
(46,788
)
Adjustments to reconcile net loss to net cash provided by operating
activities Depreciation and amortization
1,403
1,009
2,752
1,910
Stock-based compensation expense
21,963
14,836
41,920
28,339
Other
(305
)
(23
)
(550
)
95
Non-cash operating lease costs
971
980
1,956
1,789
Changes in operating assets and liabilities: Accounts receivable
(3,861
)
(4,638
)
(12,006
)
(7,543
)
Prepaid expenses and other current assets
1,321
2,798
4,074
338
Deferred commissions
(1,127
)
(2,504
)
(815
)
(4,895
)
Other noncurrent assets
892
2,776
2,364
1,940
Accounts payable
(2,793
)
(1,263
)
329
(2,591
)
Accrued expenses
7,091
(878
)
8,134
2,068
Deferred revenue
24,143
23,230
23,498
29,073
Operating lease liabilities
(1,534
)
(1,113
)
(2,238
)
(1,382
)
Net cash provided by operating activities
20,406
10,642
15,345
2,353
Cash flows from investing activities: Purchase of property and
equipment
(666
)
(1,812
)
(995
)
(2,525
)
Capitalization of internal-use software costs
(425
)
(669
)
(873
)
(1,263
)
Net cash used in investing activities
(1,091
)
(2,481
)
(1,868
)
(3,788
)
Cash flows from financing activities: Proceeds from the exercise of
stock options
699
1,176
2,386
5,165
Cash received for tax withholding obligations on equity award
settlements
5,898
2,653
12,223
9,995
Cash paid for tax withholding obligations on equity award
settlements
(5,607
)
(2,374
)
(11,562
)
(11,132
)
Repurchase of unvested stock options
—
(13
)
(648
)
(13
)
Net cash provided by financing activities
990
1,442
2,399
4,015
Net increase (decrease) in cash, cash equivalents, and restricted
cash
20,305
9,603
15,876
2,580
Cash, cash equivalents, and restricted cash at beginning of the
period
214,920
301,272
219,349
308,295
Cash, cash equivalents, and restricted cash at end of the period
$
235,225
$
310,875
$
235,225
$
310,875
AMPLITUDE, INC. Reconciliation of GAAP to Non-GAAP
Data (In thousands, except percentages and per share
amounts) (unaudited) Three Months Ended June
30, Six Months Ended June 30,
2023
2022
2023
2022
Reconciliation of gross profit and gross margin GAAP gross
profit
$
50,587
$
41,070
$
97,877
$
78,072
Plus: stock-based compensation expense and related employer payroll
taxes
1,687
1,669
3,479
2,591
Plus: amortization of acquired intangible assets
270
494
692
983
Non-GAAP gross profit
$
52,544
$
43,233
$
102,048
$
81,646
GAAP gross margin
74.6
%
70.7
%
72.9
%
70.2
%
Non-GAAP adjustments
2.9
%
3.7
%
3.1
%
3.2
%
Non-GAAP gross margin
77.5
%
74.4
%
76.0
%
73.4
%
Reconciliation of operating expenses GAAP research and
development
$
22,435
$
20,306
$
46,143
$
36,807
Less: stock-based compensation expense and related employer payroll
taxes
(9,500
)
(7,533
)
(18,533
)
(12,015
)
Non-GAAP research and development
$
12,935
$
12,773
$
27,610
$
24,792
GAAP research and development as percentage of revenue
33.1
%
34.9
%
34.4
%
33.1
%
Non-GAAP research and development as percentage of revenue
19.1
%
22.0
%
20.6
%
22.3
%
GAAP sales and marketing
$
38,326
$
34,135
$
77,459
$
62,265
Less: stock-based compensation expense and related employer payroll
taxes
(7,660
)
(3,268
)
(14,341
)
(6,500
)
Less: amortization of acquired intangible assets
(44
)
—
(87
)
—
Non-GAAP sales and marketing
$
30,622
$
30,867
$
63,031
$
55,765
GAAP sales and marketing as percentage of revenue
56.6
%
58.7
%
57.7
%
56.0
%
Non-GAAP sales and marketing as percentage of revenue
45.2
%
53.1
%
47.0
%
50.2
%
GAAP general and administrative
$
12,519
$
11,212
$
26,141
$
25,574
Less: stock-based compensation expense and related employer payroll
taxes
(2,732
)
(2,620
)
(6,080
)
(7,760
)
Non-GAAP general and administrative
$
9,787
$
8,592
$
20,061
$
17,814
GAAP general and administrative as percentage of revenue
18.5
%
19.3
%
19.5
%
23.0
%
Non-GAAP general and administrative as percentage of revenue
14.4
%
14.8
%
14.9
%
16.0
%
Reconciliation of operating loss and operating margin GAAP
loss from operations
$
(30,887
)
$
(24,583
)
$
(60,060
)
$
(46,574
)
Plus: stock-based compensation expense and related employer payroll
taxes
21,579
15,090
42,433
28,866
Plus: amortization of acquired intangible assets
314
494
779
983
Plus: restructuring and other related charges
8,194
—
8,194
—
Non-GAAP loss from operations
$
(800
)
$
(8,999
)
$
(8,654
)
$
(16,725
)
GAAP operating margin
(45.6
%)
(42.3
%)
(44.7
%)
(41.9
%)
Non-GAAP adjustments
44.4
%
26.8
%
38.3
%
26.8
%
Non-GAAP operating margin
(1.2
%)
(15.5
%)
(6.4
%)
(15.0
%)
Reconciliation of net income (loss) GAAP net income (loss)
$
(27,758
)
$
(24,568
)
$
(54,073
)
$
(46,788
)
Plus: stock-based compensation expense and related employer payroll
taxes
21,579
15,090
42,433
28,866
Plus: amortization of acquired intangible assets
314
494
779
983
Plus: restructuring and other related charges
8,194
—
8,194
—
Non-GAAP net income (loss)
$
2,329
$
(8,984
)
$
(2,667
)
$
(16,939
)
Reconciliation of net income (loss) per share GAAP net
income (loss) per share, basic
$
(0.24
)
$
(0.22
)
$
(0.47
)
$
(0.42
)
Non-GAAP adjustments to net income (loss)
0.26
0.14
0.45
0.27
Non-GAAP net income (loss) per share, basic
$
0.02
$
(0.08
)
$
(0.02
)
$
(0.15
)
Non-GAAP net income (loss) per share, diluted
$
0.02
$
(0.08
)
$
(0.02
)
$
(0.15
)
Weighted-average shares used in GAAP and non-GAAP per share
calculation, basic
116,174
111,036
115,277
110,297
Weighted-average shares used in GAAP and non-GAAP per share
calculation, diluted (1)
126,270
111,036
115,277
110,297
Note: Certain figures may not sum due to rounding (1) For the three
months ended June 30, 2023, the weighted average shares used in the
GAAP per share calculation excludes 10.1 million shares, as the
effect is anti-dilutive in the period.
AMPLITUDE, INC.
Reconciliation of GAAP Cash Flows from Operations to Free Cash
Flow (In thousands, except for percentages)
(unaudited) Three Months Ended June 30, Six
Months Ended June 30,
2023
2022
2023
2022
Net cash provided by operating activities
$
20,406
$
10,642
$
15,345
$
2,353
Less: Purchases of property and equipment
(666
)
(1,812
)
(995
)
(2,525
)
Capitalization of internal-use software costs
(425
)
(669
)
(873
)
(1,263
)
Free cash flow
$
19,315
$
8,161
$
13,477
$
(1,435
)
Net cash provided by operating activities margin
30.1
%
18.3
%
11.4
%
2.1
%
Non-GAAP adjustments
(1.6
%)
(4.3
%)
(1.4
%)
(3.4
%)
Free cash flow margin
28.5
%
14.0
%
10.0
%
(1.3
%)
Note: Certain figures may not sum due to rounding
AMPLITUDE,
INC. Historicals - Key Business Metrics (In millions,
except for percentages) (unaudited)
March 31,2022 June 30,2022 September 30,2022
December 31,2022 March 31,2023 June 30,2023
Annual Recurring Revenue (ARR)
$
209
$
227
$
243
$
255
$
262
$
268
Dollar-based Net Retention Rate (NRR)
127
%
118
%
113
%
110
%
106
%
101
%
Dollar-based Net Retention Rate (NRR TTM)
126
%
126
%
123
%
119
%
114
%
108
%
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230807196994/en/
Investor Relations Yaoxian Chew ir@amplitude.com
Communications Darah Easton press@amplitude.com
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