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Jun 30, 2024
Amplitude Q2 2024 Earnings Report
Announced second quarter 2024 financial results with revenue up 8% year over year.
Key Takeaways
Amplitude's second quarter 2024 results showed an 8% increase in revenue year over year, reaching $73.3 million. The company's Annual Recurring Revenue (ARR) also increased by 8% to $290 million. However, Free Cash Flow decreased year over year.
Annual Recurring Revenue was $290 million, up 8% year over year.
Second quarter revenue was $73.3 million, up 8% year over year.
Cash Flow from Operations was $9.2 million.
Free Cash Flow was $6.8 million.
Amplitude
Amplitude
Forward Guidance
The company expects revenue between $73.5 - $74.5 million for Q3 2024 and between $294.5 - $296.5 million for the full year 2024. Non-GAAP operating income (loss) is expected to be between $(2.2) - $(1.2) million for Q3 2024 and between $(5.0) - $(2.0) million for the full year 2024.
Positive Outlook
- Revenue is expected to be between $73.5 - $74.5 million for Q3 2024.
- Revenue is expected to be between $294.5 - $296.5 million for the full year 2024.
- Non-GAAP Operating Income (Loss) is expected to be between $(2.2) - $(1.2) million for Q3 2024.
- Non-GAAP Operating Income (Loss) is expected to be between $(5.0) - $(2.0) million for the full year 2024.
- Non-GAAP Net Income (Loss) Per Share is expected to be $0.00 - $0.01 for Q3 2024.
Challenges Ahead
- New sanctions related to Russia are expected to negatively impact Amplitude’s ability to collect receivables from customers.
- Non-GAAP Operating Income (Loss) is expected to be a loss between $(2.2) - $(1.2) million for Q3 2024.
- Non-GAAP Operating Income (Loss) is expected to be a loss between $(5.0) - $(2.0) million for the full year 2024.
- An outlook for GAAP income (loss) from operations has not been provided.
- An outlook for GAAP net income (loss) per share has not been provided.