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Mar 31, 2024
Amplitude Q1 2024 Earnings Report
Amplitude announced financial results for the first quarter ended March 31, 2024.
Key Takeaways
Amplitude's Q1 2024 showed a 9% year-over-year increase in revenue, reaching $72.6 million. The company's annual recurring revenue (ARR) also increased by 9% year-over-year to $285 million. Free cash flow improved by $4.7 million year over year.
Annual recurring revenue was $285 million, up 9% year over year.
First quarter revenue was $72.6 million, up 9% year over year.
GAAP Net Loss per share was $0.18, based on 120.8 million shares.
Non-GAAP Net Income per share was $0.01, based on 130.9 million diluted shares.
Amplitude
Amplitude
Forward Guidance
The company expects revenue between $71.7 - $72.3 million for the second quarter of 2024 and between $292.5 - $295.5 million for the full year 2024.
Positive Outlook
- Revenue guidance for Q2 2024 is $71.7 - $72.3 million.
- Revenue guidance for full year 2024 is $292.5 - $295.5 million.
- Non-GAAP Operating Income (Loss) guidance for full year 2024 is $(1.0) - $2.0 million.
- Non-GAAP Net Income (Loss) Per Share guidance for full year 2024 is $0.07 - $0.09.
- Weighted Average Shares Outstanding is 122.5 million, basic and 133.5 million, diluted.
Challenges Ahead
- Non-GAAP Operating Income (Loss) guidance for Q2 2024 is $(4.4) - $(3.8) million.
- Non-GAAP Net Income (Loss) Per Share guidance for Q2 2024 is $(0.02) - $(0.01).
- An outlook for GAAP income (loss) from operations has not been provided.
- An outlook for GAAP net income (loss) has not been provided.
- An outlook for GAAP net income (loss) per share has not been provided.