AMPL Amplitude Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): November 7, 2024

 

Amplitude, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware		001-40817		45-3937349
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

201 Third Street, Suite 200

San Francisco, California 94103

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (415) 231-2353

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

	☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

	☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

	☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

	☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Class A Common Stock, $0.00001 par value per share		AMPL		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 2.02 Results of Operations and Financial Condition.

 

On November 7, 2024, Amplitude, Inc. issued a press release announcing its financial results for the three and nine months ended September 30, 2024 (the “Press Release”). A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information furnished under this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit No.		Description
99.1		Press Release, dated November 7, 2024, issued by Amplitude, Inc.
104		Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document).

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				AMPLITUDE, INC.
Date: November 7, 2024				By:		/s/ Andrew Casey Name: Andrew Casey
						Title: Chief Financial Officer

 

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Exhibit 99.1

Amplitude Announces Third Quarter 2024 Financial Results

 

SAN FRANCISCO – November 7, 2024 – Amplitude, Inc. (Nasdaq: AMPL), the leading digital analytics platform, today announced financial results for its third quarter ended September 30, 2024.

"We are on the path to reaccelerating growth," said Spenser Skates, CEO and co-founder of Amplitude. "Product innovation is the biggest driver of long-term value for Amplitude. Our platform continues to evolve to serve more users, more workflows, and more outcomes. Customers see that and are turning to us for our integrated and easy-to-use experience."

Third Quarter 2024 Financial Highlights:

(in millions, except per share and percentage amounts)

	Third Quarter 2024	Third Quarter 2023	Y/Y Change
Annual Recurring Revenue	$298	$273	9%
Revenue	$75.2	$70.6	6%
GAAP Loss from Operations	$(20.0)	$(20.9)	$0.9
Non-GAAP Income (Loss) from Operations	$1.6	$2.8	$(1.2)
GAAP Net Loss Per Share, Basic and Diluted	$(0.14)	$(0.15)	$0.01
Non-GAAP Net Income (Loss) Per Share, Diluted	$0.03	$0.05	$(0.02)
Net Cash Provided by (Used in) Operating Activities	$6.2	$8.0	$(1.8)
Free Cash Flow	$4.5	$7.5	$(3.0)

Non-GAAP income (loss) from operations and non-GAAP net income (loss) per share exclude expenses related to stock-based compensation expense and related employer payroll taxes and amortization of acquired intangible assets. Stock-based compensation expense and the related employer payroll taxes were $21.5 million in the third quarter of 2024 compared to $23.5 million in the third quarter of 2023. Free Cash Flow is GAAP net cash provided by (used in) operating activities, less cash used for purchases of property and equipment and capitalized internal-use software costs. 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.

Third Quarter and Recent Business Highlights:

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Financial Outlook:

The fourth quarter and full year 2024 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 fourth quarter and full year 2024, the Company expects:

 

	Fourth Quarter 2024	Full Year 2024
Revenue	$76.0 - $77.0 million	$297.1 - $298.1 million
Non-GAAP Operating Income (Loss)	$(2.1) - $(0.1) million	$(6.3) - $(4.3) million
Non-GAAP Net Income (Loss) Per Share	$0.00 - $0.01	$0.04 - $0.06
Weighted Average Shares Outstanding	134.9 million, diluted	131.7 million, diluted

 

An outlook for GAAP income (loss) from operations, GAAP net income (loss), GAAP net income (loss) per share and a reconciliation of expected non-GAAP income (loss) from operations to GAAP income (loss) from operations, expected non-GAAP net income (loss) to GAAP net income (loss), and expected non-GAAP net income (loss) per share to GAAP net income (loss) per share have not been provided as the quantification of certain items included in the calculation of GAAP income (loss) from operations, GAAP net income (loss) and GAAP net income (loss) 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 third quarter ended September 30, 2024, as well as the financial outlook for its fourth quarter and full year 2024 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 fourth

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quarter and full year 2024, 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 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; evolving privacy and other data-related laws; and the impact of new sanctions related to Russia on the Company’s ability to collect receivables. 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 from time to time, including the Company’s Quarterly Report on Form 10-Q being filed 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 Income (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

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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 income (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.

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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 trailing 12-month dollar-based net retention rate (“NRR (TTM)”).

Paying Customers

For purposes of customer count, a customer is defined as an entity that has a unique Dunn & Bradstreet Global Ultimate (“GULT”) Data Universal Numbering System (“DUNS”) number and an active subscription contract as of the measurement date. The DUNS number is a global standard for business identification and tracking. The Company makes exceptions for holding companies, government entities, and other organizations for which the GULT, in the Company’s judgment, does not accurately represent the Amplitude customer or the DUNS does not exist.

About Amplitude

Amplitude is the leading digital analytics platform that helps companies unlock the power of their products. Almost 3,500 customers, including Atlassian, NBCUniversal, Under Armour, Shopify, and Jersey Mike’s, 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 Fall 2024 Report. Learn how to optimize your digital products and business at amplitude.com.

Contacts

Investor Relations

Yaoxian Chew

ir@amplitude.com

 

Communications

Darah Easton

press@amplitude.com

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AMPLITUDE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

 

		September 30, 2024				December 31, 2023
		(unaudited)
Assets
Current assets:
Cash and cash equivalents		$	317,448			$	248,491
Restricted cash, current			878				—
Marketable securities, current			2,496				73,909
Accounts receivable, net			29,335				29,496
Prepaid expenses and other current assets			23,661				16,624
Deferred commissions, current			14,312				11,444
Total current assets			388,130				379,964
Property and equipment, net			15,490				10,068
Intangible assets, net			145				609
Goodwill			4,073				4,073
Restricted cash, noncurrent			—				869
Deferred commissions, noncurrent			26,292				26,942
Operating lease right-of-use assets			4,074				6,856
Other noncurrent assets			7,438				4,303
Total assets		$	445,642			$	433,684
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable		$	2,677			$	3,063
Accrued expenses			34,791				26,657
Deferred revenue			114,906				102,573
Total current liabilities			152,374				132,293
Operating lease liabilities, noncurrent			518				3,604
Noncurrent liabilities			2,723				3,034
Total liabilities			155,615				138,931
Stockholders’ equity:
Common stock			1				1
Additional paid-in capital			715,285				658,463
Accumulated other comprehensive income (loss)			—				(181	)
Accumulated deficit			(425,259	)			(363,530	)
Total stockholders’ equity			290,027				294,753
Total liabilities and stockholders’ equity		$	445,642			$	433,684

 

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AMPLITUDE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(unaudited)

 

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Revenue		$	75,217			$	70,637			$	221,141			$	204,881
Cost of revenue (1)			18,744				17,291				57,118				53,658
Gross profit			56,473				53,346				164,023				151,223
Operating expenses:
Research and development (1)		$	19,037			$	21,797			$	63,135			$	67,940
Sales and marketing (1)			40,863				38,475				125,824				115,934
General and administrative (1)			16,586				13,997				46,942				40,138
Restructuring and other related charges (1)			—				—				—				8,194
Total operating expenses			76,486				74,269				235,901				232,206
Loss from operations			(20,013	)			(20,923	)			(71,878	)			(80,983	)
Other income (expense), net			3,901				3,444				11,522				9,889
Loss before provision for (benefit from) income taxes			(16,112	)			(17,479	)			(60,356	)			(71,094	)
Provision for (benefit from) income taxes			742				268				1,373				726
Net loss		$	(16,854	)		$	(17,747	)		$	(61,729	)		$	(71,820	)
Net loss per share
Basic and diluted		$	(0.14	)		$	(0.15	)		$	(0.50	)		$	(0.62	)
Weighted-average shares used in calculating net loss per share:
Basic and diluted			124,324				117,902				122,601				116,160

 

(1) Amounts include stock-based compensation expense as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Cost of revenue		$	1,559			$	1,947			$	4,581			$	5,426
Research and development			6,994				9,285				24,105				27,173
Sales and marketing			8,333				7,843				23,851				21,677
General and administrative			4,226				4,010				12,377				9,876
Restructuring and other related charges			—				—				—				853
Total stock-based compensation expense		$	21,112			$	23,085			$	64,914			$	65,005

 

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AMPLITUDE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(unaudited)

 

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Cash flows from operating activities:
Net loss		$	(16,854	)		$	(17,747	)		$	(61,729	)		$	(71,820	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization			1,375				1,448				4,137				4,200
Stock-based compensation expense			21,112				23,085				64,914				65,005
Other			656				(384	)			(33	)			(934	)
Non-cash operating lease costs			982				992				2,947				2,948
Changes in operating assets and liabilities:
Accounts receivable			4,862				1,230				(703	)			(10,776	)
Prepaid expenses and other current assets			(2,170	)			(3,439	)			(7,235	)			635
Deferred commissions			(2,346	)			121				(2,217	)			(694	)
Other noncurrent assets			1,320				(577	)			(3,631	)			1,787
Accounts payable			402				5,425				(307	)			5,754
Accrued expenses			7,810				2,946				10,593				11,080
Deferred revenue			(9,532	)			(4,471	)			12,333				19,027
Operating lease liabilities			(1,447	)			(665	)			(3,719	)			(2,903	)
Net cash provided by (used in) operating activities			6,170				7,964				15,350				23,309
Cash flows from investing activities:
Cash received from maturities of marketable securities			33,750				—				91,250				—
Purchase of marketable securities			—				—				(18,352	)			—
Purchase of property and equipment			(16	)			—				(979	)			(995	)
Capitalization of internal-use software costs			(1,656	)			(476	)			(4,170	)			(1,349	)
Net cash provided by (used in) investing activities			32,078				(476	)			67,749				(2,344	)
Cash flows from financing activities:
Proceeds from the exercise of stock options			2,346				1,183				5,603				3,569
Cash received for tax withholding obligations on equity award settlements			1,940				807				4,223				13,030
Cash paid for tax withholding obligations on equity award settlements			(7,422	)			(5,313	)			(23,959	)			(16,875	)
Repurchase of unvested stock options			—				—				—				(648	)
Net cash provided by (used in) financing activities			(3,136	)			(3,323	)			(14,133	)			(924	)
Net increase (decrease) in cash, cash equivalents, and restricted cash			35,112				4,165				68,966				20,041
Cash, cash equivalents, and restricted cash at beginning of the period			283,214				235,225				249,360				219,349
Cash, cash equivalents, and restricted cash at end of the period		$	318,326			$	239,390			$	318,326			$	239,390

 

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AMPLITUDE, INC.

Reconciliation of GAAP to Non-GAAP Data

(In thousands, except percentages and per share amounts)

(unaudited)

 

	Three Months Ended September 30,								Nine Months Ended September 30,
	2024				2023				2024				2023
Reconciliation of gross profit and gross margin
GAAP gross profit	$	56,473			$	53,346			$	164,023			$	151,223
Plus: stock-based compensation expense and related employer payroll taxes		1,559				1,947				4,581				5,426
Plus: amortization of acquired intangible assets		—				273				332				965
Non-GAAP gross profit	$	58,032			$	55,566			$	168,936			$	157,614
GAAP gross margin		75.1	%			75.5	%			74.2	%			73.8	%
Non-GAAP adjustments		2.1	%			3.1	%			2.2	%			3.1	%
Non-GAAP gross margin		77.2	%			78.7	%			76.4	%			76.9	%
Reconciliation of operating expenses
GAAP research and development	$	19,037			$	21,797			$	63,135			$	67,940
Less: stock-based compensation expense and related employer payroll taxes		(7,151	)			(9,395	)			(25,165	)			(27,928	)
Non-GAAP research and development	$	11,886			$	12,402			$	37,970			$	40,012
GAAP research and development as percentage of revenue		25.3	%			30.9	%			28.5	%			33.2	%
Non-GAAP research and development as percentage of revenue		15.8	%			17.6	%			17.2	%			19.5	%
GAAP sales and marketing	$	40,863			$	38,475			$	125,824			$	115,934
Less: stock-based compensation expense and related employer payroll taxes		(8,531	)			(8,011	)			(24,621	)			(22,352	)
Less: amortization of acquired intangible assets		(44	)			(44	)			(131	)			(131	)
Non-GAAP sales and marketing	$	32,288			$	30,420			$	101,072			$	93,451
GAAP sales and marketing as percentage of revenue		54.3	%			54.5	%			56.9	%			56.6	%
Non-GAAP sales and marketing as percentage of revenue		42.9	%			43.1	%			45.7	%			45.6	%
GAAP general and administrative	$	16,586			$	13,997			$	46,942			$	40,138
Less: stock-based compensation expense and related employer payroll taxes		(4,295	)			(4,097	)			(12,805	)			(10,177	)
Non-GAAP general and administrative	$	12,291			$	9,900			$	34,137			$	29,961
GAAP general and administrative as percentage of revenue		22.1	%			19.8	%			21.2	%			19.6	%
Non-GAAP general and administrative as percentage of revenue		16.3	%			14.0	%			15.4	%			14.6	%
Reconciliation of operating loss and operating margin
GAAP loss from operations	$	(20,013	)		$	(20,923	)		$	(71,878	)		$	(80,983	)
Plus: stock-based compensation expense and related employer payroll taxes		21,536				23,450				67,172				65,883
Plus: amortization of acquired intangible assets		44				317				463				1,096
Plus: restructuring and other related charges		—				—				—				8,194
Non-GAAP income (loss) from operations	$	1,567			$	2,844			$	(4,243	)		$	(5,810	)
GAAP operating margin		(26.6	%)			(29.6	%)			(32.5	%)			(39.5	%)
Non-GAAP adjustments		28.7	%			33.6	%			30.6	%			36.7	%
Non-GAAP operating margin		2.1	%			4.0	%			(1.9	%)			(2.8	%)
Reconciliation of net income (loss)
GAAP net income (loss)	$	(16,854	)		$	(17,747	)		$	(61,729	)		$	(71,820	)
Plus: stock-based compensation expense and related employer payroll taxes		21,536				23,450				67,172				65,883
Plus: amortization of acquired intangible assets		44				317				463				1,096
Plus: restructuring and other related charges		—				—				—				8,194
Less: income tax effect of non-GAAP adjustments		(261	)			(130	)			(419	)			(130	)
Non-GAAP net income (loss)	$	4,465			$	5,890			$	5,487			$	3,223
Reconciliation of net income (loss) per share
GAAP net income (loss) per share, basic	$	(0.14	)		$	(0.15	)		$	(0.50	)		$	(0.62	)
Non-GAAP adjustments to net income (loss)		0.17				0.20				0.55				0.65
Non-GAAP net income (loss) per share, basic	$	0.04			$	0.05			$	0.04			$	0.03
Non-GAAP net income (loss) per share, diluted	$	0.03			$	0.05			$	0.04			$	0.03
Weighted-average shares used in GAAP and non-GAAP per share calculation, basic		124,324				117,902				122,601				116,160
Weighted-average shares used in GAAP and non-GAAP per share calculation, diluted(1)		131,319				128,140				130,713				126,759

Note: Certain figures may not sum due to rounding

(1) For the three and nine months ended September 30, 2024 and for the three and nine months ended September 30, 2023, the weighted average shares used in the GAAP per share calculation excludes 7.0 million shares, 8.1 million shares, 10.2 million shares, and 10.6 million shares, respectively, as the effect is anti-dilutive in the period.

 

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AMPLITUDE, INC.

Reconciliation of GAAP Cash Flows from Operations to Free Cash Flow

(In thousands, except percentages)

(unaudited)

 

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Net cash provided by (used in) operating activities		$	6,170			$	7,964			$	15,350			$	23,309
Less:
Purchases of property and equipment			(16	)			—				(979	)			(995	)
Capitalization of internal-use software costs			(1,656	)			(476	)			(4,170	)			(1,349	)
Free cash flow		$	4,498			$	7,488			$	10,201			$	20,965
Net cash provided by (used in) operating activities margin			8.2	%			11.3	%			6.9	%			11.4	%
Non-GAAP adjustments			(2.2	%)			(0.7	%)			(2.3	%)			(1.1	%)
Free cash flow margin			6.0	%			10.6	%			4.6	%			10.2	%

Note: Certain figures may not sum due to rounding

 

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AMPLITUDE, INC.

Historicals - Key Business Metrics

(In millions, except percentages)

(unaudited)

 

		June 30, 2023				September 30, 2023				December 31, 2023				March 31, 2024				June 30, 2024				September 30, 2024
Annual Recurring Revenue (ARR)		$	268			$	273			$	281			$	285			$	290			$	298
Dollar-based Net Retention Rate (NRR)			101	%			99	%			98	%			97	%			96	%			98	%
Dollar-based Net Retention Rate (NRR TTM)			108	%			105	%			101	%			99	%			98	%			97	%

 

 

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v3.24.3

Document and Entity Information	Nov. 07, 2024
Cover [Abstract]
Amendment Flag	false
Entity Central Index Key	0001866692
Document Type	8-K
Document Period End Date	Nov. 07, 2024
Entity Registrant Name	Amplitude, Inc.
Entity Incorporation State Country Code	DE
Entity File Number	001-40817
Entity Tax Identification Number	45-3937349
Entity Address, Address Line One	201 Third Street
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94103
City Area Code	(415)
Local Phone Number	231-2353
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Class A Common Stock, $0.00001 par value per share
Trading Symbol	AMPL
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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