Q4 2024 Amplitude Inc Earnings Call
You have joined the meeting. Thank you.
as an attendee and will be muted throughout the meeting. I'm John Strapa, Head of Investor Relations. Joining me today are Spenser Skates, CEO and co-founder of Amplitude, and Andrew Casey, Chief Financial Officer.
During today's call, management will make forward-looking statements, including statements regarding our financial outlook for the first quarter and full year 2025, the expected performance of our products, our expected quarterly and long-term growth, investments, and our overall future prospects.
These four looking statements are based on current information, assumptions, and expectations, and are subject to risks and uncertainties, some of which are beyond our control, that could cause actual results to differ materially from those described in these statements.
Further information on the risks that could cause actual results to differ is included in our filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements and we assume no obligation to update these statements after today's call except as required by law.
Certain financial measures used on today's call are expressed on a non-GAAP basis. We use these non-GAAP financial measures internally to facilitate analysis of our financial and business trends and for internal planning and forecasting purposes.
These non-GAAP financial measures have limitations and should not be used in isolation from or as a substitute for financial information prepared in accordance with GAAP.
A reconciliation between these GAAP and non-GAAP financial measures is included in our earnings press release, which can be found on our investor relations website at investors.amplitude.com. With that, I'll hand the call over to Spenser.
Thanks, John.
Spenser Skates: Welcome to Amplitude's Q4 and full 2024 earnings call. I'm going to go through three key areas today. First, our Q4 results and the re-acceleration of our business. Second, how we are going after a market opportunity, and why 2025 is the year of the platform for Amplitude. Last, product innovation, progress on winning the enterprise, and customer stories.
Q4 outperformed in all key metrics.
Spenser Skates: Our fourth quarter revenue was $78 million, up 9% year-over-year. Annual recurring revenue was $312 million, up $13 million from last quarter. Non-GAAP operating income was $0.2 million.
Spenser Skates: Customers with more than 100k in ARR grew to 591, an increase of 16% year-over-year.
Spenser Skates: In 2024, we exited the year with over $299 million in revenue, we grew ARR by more than 10%, and we generated almost $12 million in free cash flow for the year.
Spenser Skates: Amplitude is re-accelerating. We're continuing to see progress on our strategy of win simple, win the enterprise, win the category, and win together. Customers are embracing our platform, churn is beginning to stabilize, and we see a path to accelerating our double-digit growth. I'm proud of the Amplitude team for everything they delivered in 2024.
Spenser Skates: Let's look at 2025. 2025 is the year of the Amplitude platform. Every company needs data they can trust, an understanding of their customers, and ways to take action.
Spenser Skates: That is exactly what Amplitude delivers. First, we help customers get trusted data into Amplitude. This is table stakes in digital analytics.
Spenser Skates: Then, we help companies understand what their customers are doing and why using analytics and session replay. This is what we do better than anyone else in the world.
Spenser Skates: Then we enable our customers to take action based on those insights using our activation, experimentation, and guides and surveys products.
Companies do not want stand-alone point solutions.
Speaker Change: Thomas and I spoke with hundreds of executives over the past year. Every single one is interested in going beyond analytics to Amplitude's platform.
Speaker Change: I want to take you through what the platform actually looks like in action.
So, you're a product manager.
Speaker Change: You then use Amplitude Session Replay to identify the confusing part of the flow.
Speaker Change: You then use Amplitude Feature Experimentation to test which new signup flow works better.
Speaker Change: You realize your users need more help, so you add an in-product guide with amplitude guides and surveys.
Speaker Change: All of these use cases are more powerful when used together in one integrated platform.
Speaker Change: Product innovation is the biggest driver of long-term growth at Amplitude. We're continuing to expand our platform with new products that work better together. I want to walk you through some of the highlights from 2024. We had two new products to market. In February, we relaunched Session Replay. Customers like Questrade and TicketSwap use it to understand the user journey, identify issues, and improve in-product experiences.
Speaker Change: In October, we launched web experimentation. Customers like RBC Life Insurance, DoubleGood, and Hard Rock Digital use it to A-B test websites with a WYSIWYG editor without needing to rely on engineering.
Speaker Change: We also made major improvements to the platform. We launched enterprise-grade features like data access controls and data mutability, building our lead as the enterprise digital analytics platform.
Speaker Change: We also launched Amplitude Made Easy to help users get started and see value in record time. This led to a 40% increase in self-service signups and a 40% increase in the number of new self-service users sending data.
Speaker Change: Finally, we launched Snowflake Native Amplitude and an out-of-the-box HubSpot integration to make it easier to bring data into Amplitude.
Speaker Change: We're going to do more in 2025. Last week, we launched guides and surveys.
Speaker Change: We got this product to market only four months after the acquisition of Command AI. Guides & Surveys helps companies deploy in-product guides, tours, and surveys with just a few clicks. Amplitude's Guides & Surveys product provides a significantly better end-user experience than the average product in market.
Speaker Change: I want to actually show you a demo of all of this now.
Speaker Change: I'm going to first start by actually showing you how terrible the Average Guides and Surveys product is.
Speaker Change: So with the average guides and surveys product, you get tons of annoying pop-ups. As a user, your experience is now worse, not better. We call this the pop-up party. Nobody wants this experience and it is not effective for product engagement.
Speaker Change: Now, I'm going to show you a demo of Amplitude's approach because I want you to see how much better it is. Instead of showing every pop-up to every user by default, we customize what is shown based on what the user is doing in the product.
Speaker Change: So in this demo, we can see that the user is confused. Their mouse is moving all over the screen because they don't know what to do next. We detect this confusion and then we ask them what they're trying to accomplish. They let us know and then we show them in the UI where they can complete the task.
Speaker Change: This is a tailored interaction that results in a better user experience and higher user engagement.
Speaker Change: The CEO of European email builder BeFree told us that the ability to guide users through their product in a personalized and data-driven way was the main reason for choosing Amplitude.
Speaker Change: While it is early, we are already seeing strong demand. During launch day last week, we had a record-breaking number of new signups to Amplitude. We also had some customers buying guides and surveys in queue form before the product was even launched.
Speaker Change: A shout out to James, Vinay, and the entire former Command AI team for bringing this product to market so quickly.
Speaker Change: There is a lot more on the product launch Verizon this year, including some exciting AI products. We're gonna be sharing more details at our Investor Day in New York on March 10th.
Speaker Change: We believe our pace of innovation will continue to build Amplitude's lead as the enterprise digital analytics platform. I wanted to also share what we're doing in go-to-market to win the enterprise.
Speaker Change: The biggest change for 2025 is that we've created a new strategic enterprise accounts team to focus on our top 30 customers and top 30 prospects. This team is responsible for a significant portion of our ARR. This segment allows us to focus our resources in a more concentrated way on our larger customers.
Speaker Change: In the last year, we've nurtured stronger executive relationships, which has helped drive higher gross bookings. We now have relationships with C-level and VP-levels at almost every large-amplitude customer.
Speaker Change: We've developed smarter account targeting models to help land the right customers and ensure we're building pipelines specifically in the enterprise. This paid off in a big way in 2024 and in Q4 in particular.
Speaker Change: Lastly, we built out our enterprise sales, product, and professional services capacity in our fully staffed teams across the field.
Speaker Change: Our platform strategy plays a role again here. In Q4, 67% of the new land ARR in our largest targeted accounts came from multi-product deals.
Speaker Change: However, 75% of our customers still use just one Amplitude product. Our data shows that those who use a product beyond analytics derive greater value, invest more into Amplitude overall, and retain 10 percentage points higher than those who are analytics only.
The potential expansion upside for us is big.
Speaker Change: On customers, we had a great quarter for new and expansion deals in the enterprise with RBC Insurance, Hard Rock Digital, Thrive Market, Western Union, All Trails, Philip Morris, Calm,
Abridged AI, Ultramodal Mobile, MercadoLibre, and many more.
Speaker Change: I want to talk in detail about three of our customers today.
Speaker Change: One is Mercado Libre, the company leading the shift to online commerce in Latin America.
Speaker Change: With over 60 million buyers last quarter, including 7 million new users, they needed a way to turn their first-party data into business impact.
Speaker Change: By adopting Amplitude Analytics, MercadoLibre empowered its teams to move faster, make smarter decisions, and drive deeper engagement.
Speaker Change: Over 5,000 employees at MercadoLibre now actively use Amplitude, with more than half going beyond dashboards to actively query user data and uncover insights.
Speaker Change: Building on this success, MercadoLibre is now expanding into feature experimentation and amplitude activation, replacing multiple internal tools with our integrated platform. This shift allows them to test and optimize new features, personalize campaigns, and improve customer loyalty, all powered by the same data.
Speaker Change: With e-commerce in Latin America at 15% of total transactions, the opportunity is massive.
Speaker Change: We are proud to support Mercado Libre as they scale, driving innovation and long-term growth.
Speaker Change: We are also working with more traditional enterprise companies who are incorporating a digital experience across their customer lifecycle. In Q4, we expanded our relationship with one of the world's leading automakers, headquartered here in the United States.
Speaker Change: This customer is fundamentally redefining the driver experience, and Amplitude is helping power that transformation.
Speaker Change: Historically, their customer data was fragmented across multiple legacy systems. By expanding their use of the Amplitude platform, they are now unifying insights across the entire driver lifecycle, from in-car infotainment to dealership interactions to digital services.
Speaker Change: With Amplitude Analytics, their teams can now see how drivers engage with digital features in real time. With feature experimentation, they are testing and refining new in-car experiences before rolling them out at scale. And with Amplitude Activation, they are delivering personalized interactions that make every drive smarter and more seamless.
Speaker Change: Lastly, we are working with The Fork, the largest online restaurant booking and discovery platform in Europe and Australia. The Fork serves over 20 million diners monthly and over 60,000 restaurants.
Speaker Change: The Fork was looking at combined legacy vendors and point solutions into a single platform.
Speaker Change: Amplitude worked with the team to identify opportunities and workflows across analytics, session replay, and experimentation to reduce their data overhang and accelerate their ability to iterate on both their B2B and B2C applications.
Speaker Change: The fork can now improve the onboarding process for restaurants, helping to increase subscriptions. It can help those restaurants improve the diner experience, boost first and repeat bookings, and drive reservation revenue. It can also identify reservation patterns and promote them across similar demographics and geographies.
Speaker Change: As a final note today, I mentioned that churn rates were stabilizing after a relatively tough 2024. A significant majority of our large COVID-era customers have right-sized their contracts.
Speaker Change: We are seeing signs that the worst of the churn is behind us, but we still have key accounts we need to watch.
The macro environment also remains challenging.
Speaker Change: While we expect churn to keep improving, we anticipate continued pressure in the lower end of the market.
Speaker Change: Our team is focused on helping customers derive value from amplitude as fast as possible. The best way to reduce churn is to make sure customers succeed.
Speaker Change: Before I hand it over to Andrew, I wanted to reiterate that I am proud of how the Amplitude team executed last year. We are still early in the digital analytics category and we are set up to lead it. I'm looking forward to 2025 and beyond.
Speaker Change: Thank you for your interest and amplitude. Now over to Andrew to run through our Q4 and 2024 financials in more detail.
Andrew Casey: Thank you Spenser and good afternoon everyone. I'm pleased with how the team ended the year showing progress against the plan we put in place.
Speaker Change: Our success is in our hands. We have the right team, right strategy, and right alignment in place to continue strong execution.
Speaker Change: Our Land, Expand, Retain strategy is working as we move up market into the enterprise, and we believe this trend can accelerate.
As Spenser laid out, our strategy for 2025 is clear.
Speaker Change: We are focused on building an extensible platform for our customers that allows them to build mission-critical workflows on top of our solution.
Speaker Change: Our customers creating value with our platform is our number one priority. And we're focused as an organization to increase the value and speed that enterprises can realize with Amplitude.
Speaker Change: With this, we will continue to iterate on our business model to create a durable growth profile to grow shareholder value over time.
Speaker Change: When we say enterprise, we are focused on companies that have over 1,000 employees or generate over 100 million in revenue.
Speaker Change: We'll discuss more about this cohort at our Investor Day on March 10th, but this cohort is ripe for consolidation from point solutions.
Speaker Change: Amplitude gives enterprises the ability to have a single source of truth for their data, reducing the need to pivot from one application to another and accelerate their ability to iterate, implement, business processes, changes quickly.
Speaker Change: Democratizing analytics within the enterprise is at the core of enterprise decision-making and uniquely positions us to be the consolidator of point product solutions.
Speaker Change: Our growth algorithm is focused on landing with enterprises, driving rapid time-to-value, and expanding our use cases.
Speaker Change: So many customers have deployed a variety of digital technologies to better understand their customers.
Speaker Change: drive effective marketing or drive improvements in their digital products only to discover the pain of managing these environments in the pursuit of driving improved business outcomes.
Speaker Change: Our sellers are focused on positioning the amplitude platform to uniquely solve this customer pain.
Speaker Change: They develop deep relationships within their accounts and become strategic value partners within the organization.
Speaker Change: By becoming strategic partners with our customers, we believe we will drive greater attachment to our platform and create longer-term relationships.
Speaker Change: We have seen this start to take hold as our RPO continues to accelerate, up 29% year-over-year.
Now, turning to our fourth quarter results.
Speaker Change: As a reminder, all financial results that I will be discussing, with the exception of revenue, are non-GAAP.
Speaker Change: Our GAAP financial results, along with the reconciliation between GAAP and non-GAAP results, can be found in our Earnings Press Release and Supplemental Financials on our IR website.
Speaker Change: Fourth quarter revenue was $78.1 million, up 9% year-over-year and 4% quarter-over-quarter.
Spenser Skates, Yaoxian Chew, Spenser Skates, Christopher Harms
Speaker Change: Total annual recurring revenue increased to $312 million exiting Q4, an increase of 11% year-over-year and $13 million sequentially.
Speaker Change: Here are more details on the key elements of the quarter.
Speaker Change: We had a strong new customer quarter, focused on the enterprise, but the macro environment still remains difficult for new logos.
Speaker Change: The number of customers representing 100,000 or more of ARR in Q4 grew to 591, an increase of 16% year-over-year.
In-period NRR was 100%, a 2-point increase sequentially.
NRR on a trailing 12-month basis was 97%.
Speaker Change: We continue to make progress and improvements in retention and expect NRR to slowly increase throughout 2025 as we drive greater expansion opportunities.
Speaker Change: Gross margin was 77% for the fourth quarter, in line with Q4 2023.
Speaker Change: Sales and marketing expenses were 44% of revenue, a slight increase year-over-year reflecting the investments we've made in enterprise coverage.
Speaker Change: We continue to focus on improving sales efficiencies, driving improvements through our changes in the processes and coverage, and moving upmarket towards enterprise customers.
Speaker Change: G&A was 16% of revenue, up 1 percentage point year-over-year, reflecting increases in legal and acquisition-related expenses.
Speaker Change: R&D was 18% of revenue, up 2 percentage points sequentially, primarily due to the acquisition of Command AI.
Speaker Change: Total operating expenses were $60 million, 77% of revenue up two percentage points sequentially.
Speaker Change: primarily due to the aforementioned increases in sales and marketing and our acquisition of Command-AI.
Speaker Change: Operating profit was a positive 0.2 million or 0.3% of revenue, which was approximately $1 million better than our midpoint of our guidance.
Speaker Change: Net income per share was $0.02 based on 135.7 million diluted shares compared to net income per share of $0.04 with 129.2 million diluted shares a year ago.
Now, turning to our Outlook.
Speaker Change: We are assuming that the macroeconomic environment continues to be challenging in the near future.
Speaker Change: However, we are encouraged with the demonstrated progress of our strategic changes.
Speaker Change: We expect that every new logo will continue to be tough and that buyer scrutiny has not shifted over the past six months.
Speaker Change: As we get to the larger levels of churn, we continue to address structural issues in our go-to-market motion to influence greater retention and then send deeper adoption of our platform.
Speaker Change: We are building a durable enterprise SaaS business that will enable us to drive growth as we deliver increasing value to our customers.
Speaker Change: We plan to reinvest appropriately against our platform opportunity, and will not shy away from any big bets where we see favorable outcomes.
Speaker Change: Now, for the first quarter of 2025, we expect revenue to be between $78.5 million and $80.5 million, representing an annual growth rate of 10% at the midpoint.
Speaker Change: We expect non-GAAP operating loss to be between negative $5.5 million and negative $3.5 million, reflecting the linearity in our business as we begin a new year with our new product announcements, sales kickoff, and other go-to-market investments.
Speaker Change: And we expect non-GAAP net income per share to be between negative 3 cents and negative 1 cent, assuming basic shares outstanding of approximately $130 million.
Speaker Change: For the full year 2025, we expect revenue to be between $325 and $331 million, an annual growth rate of 10% at the midpoint.
Speaker Change: Our outlook for non-GAAP operating income to be between negative $3.5 million and positive $4.5 million, reflecting our focus on growth with leverage.
Speaker Change: We expect non-GAAP net income per share to be between 5 cents and 10 cents, assuming shares outstanding of approximately 142.1 million as measured on a fully diluted basis.
Speaker Change: I'm confident in our ability to build a durable growth model by aligning to the right customers, driving the right contracts, investing to drive greater innovation, and building value for our customers.
Speaker Change: Our long-term opportunity remains incredibly compelling. With increased discipline and execution, I believe we will be in great position to capture it.
Speaker Change: With that, we'll open it up for Q&A. Over to you, John.
John Strapa: Thank you, Andrew. We will now turn to Q&A. For the sake of time, please limit yourself to one question and one follow-up.
John Strapa: Our first question will be coming from the line of Brent Bracklin from Piper Sandler, followed by Koji Akita from Bank of America. Brent, your line is open.
Brent Bracklin: Hey guys, good afternoon. Andrew, maybe we'll start with you. Net new ARR on an absolute basis was the highest we've seen in two years.
Speaker Change: Can you double click into the drivers there on that new ARR?
Speaker Change: Is GDR improving? Is it mostly new lands that's contributing to it? Was there a little contribution from Command AI? Just trying to understand.
Speaker Change: It's such a big increase here. We haven't seen in a couple years. What drove that?
Speaker Change: Well, I think it's, uh, thanks, Brett. It's a great question.
Speaker Change: The thing I would tell you is first and foremost, it's our focus on our enterprise coverage. We really started making changes to that in the beginning of 2024 and sales cycles in the enterprise take between 9 and 12 months or even longer in some cases. And so I think you're seeing is really the fruition of that investment and starting to see real productivity on the use cases and customers where we're delivering great value. Now, there was a component of ARR that came from Command AI as part of the acquisition, which was approximately about
$2 million will be added.
Speaker Change: Okay, perfect, helpful. And then I guess specifically on Command-AI, you guys quickly rolled out the guides and surveys product, I think in the last week or so. Maybe walk through the potential cross-cell attach rate.
Speaker Change: specifically around Command-AI, what's been the early feedback? I know we're one week in, but it seems like a very compelling, incremental upsell, cross-sell opportunity. Love to hear what the feedback has been with that product now live.
Yeah, for sure. I'll take that. Thanks, Brent.
Speaker Change: So it's, I mean, first, the fact that we're able to get it out to market in just four weeks, in four months is awesome. Like most teams, you know, you do an acquisition and it's like, oh, it takes a year to get the thing integrated and working. But credit to both the command, former command AI team, as well as everyone here at Amplitude for making it happen so quickly.
Speaker Change: In terms of the cross opportunity, I think with guides and surveys, you now have the complete set of core products for product managers.
Speaker Change: from a data standpoint. So there's really no reason to go with individual point solutions.
Speaker Change: So I think that sets us up well from a competitive standpoint.
Speaker Change: And then from a cross-sell standpoint, I think, you know, you're looking 20 to 50% uplifts on top of the analytics contract. So it's similar to, you know, what I call the uplift that you see from experimentation.
Speaker Change: By completing the suite into the full kind of core platform, you know, I think overall you'll look at anywhere between 2 and 3x of what you're doing for for analytics only. We actually just closed a 200k deal for guides and surveys just yesterday. That was fantastic. We have larger ones in the pipeline for some of our enterprises.
Speaker Change: and Q1 and Q2, so early, but we're seeing a lot of interest on it, which is great.
Speaker Change: Great to see and nice to see a solid execution in Q4. Thank you. Thanks Brent. Thanks Brent.
Speaker Change: Thank you. Our next question will come from Koji Ikeda from Bank of America, followed by Clark Wright from DA Davidson.
Koji Ikeda: Koji, the floor is yours. Thank you. Hey guys, thanks so much for taking the questions. The first one is about the enterprise sales motion.
Koji Ikeda: I totally hear you and appreciate all the color that you gave in the prepared remarks. But really here, we noticed there may have been some sales attrition in the sales org recently, and just curious, you know, what does the current sales capacity look like today?
Koji Ikeda: And I was wondering if you could get a little bit more prescriptive in how you're thinking about strategically investing and go-to-market.
Yeah, so I think...
Koji Ikeda: Last year, we re-segmented the business to basically move a whole bunch of sellers away from SMB.
Koji Ikeda: added the plus plan to do self-serve, created a whole named accounts model.
Koji Ikeda: This year the big change that I highlighted was the addition of the strategic account segment to increase focus there. We've built out from a capacity standpoint, kind of what we, the level, the right level of investment to, in order to successfully go after the enterprise opportunity, you kind of saw a bunch of that.
Koji Ikeda: come to fruition in Q4, so that was great and, you know, we're set up from a capacity standpoint as we go through this year. Now, as a natural part of
Koji Ikeda: Continuing to push the big business up market and continuing to evolve and mature, you know, you'll naturally see sellers attrit as you change the team and everything else and so I wouldn't say it's significantly beyond what you'd expect as part of a maturing enterprise business.
Koji Ikeda: Now maybe just to add to that too, I think as you start to instrument, you know, an enterprise go-to-market model, there's a lot of changes that happen. You split territories, you move accounts, you try to balance things more appropriately, and as that machine starts working more and more efficiently, that's when you start to really look at the data to make sure that you're you're leaning in and understanding the dynamics of how efficient the Salesforce is working before you start making additional investments.
Koji Ikeda: In particular, I look at, in the magic number, I look at gross ARR and, you know, look at how much expense we're actually putting towards that gross ARR, and the closer and closer we get on that result to being one, that's an early indicator that you should be making additional investments.
Koji Ikeda: But you also have to get dig deeper. You really have to understand the profile of your sales processes.
Koji Ikeda: the pipeline that you're generating, the likelihood that it's going to convert, and frankly, how well and distributed attainment is across your team. If all those things are working well, then it makes a lot of sense to start investing more and more in AESC coverage to go generate and reach out to more enterprise clients.
Got it. No, thanks guys and.
Speaker Change: A follow-up here, maybe a more philosophical question, you know, love the demo that we saw. I'm glad it worked well. This is the first time we've done it on an earrings call. It worked, it worked, so congratulations. But it got me thinking, you know, Amplitude's really good at knowing what the user should be doing.
Speaker Change: So, why can't that data and intelligence be fed into an agentic AI offering to power it? It looks like a positive, right? So, would this be a positive or negative for the usage of amplitude?
Speaker Change: Koji, you should join our product leadership team. I love it. You're already ahead of us. So one of the things we are going to be doing this year is launching an Amplitude agent sometime in the second half that will allow you to drive both automated insights and automated action. So, hey, show me groups of users that I should look at and that have had a bad experience or a good experience in the product, or create experimentations for me of a new sign-up flow
Speaker Change: as an end product guide trigger that prompts the user and test them out for me.
Speaker Change: So the agentic stuff is actually really exciting for us because, to your point, we have one of the largest repositories on user behavior data out there, right? There's no open, it's not like text where there's a lot of open source stuff, equivalents on the web. It's like, you know, there's
Speaker Change: only for priority sources this data and we're one of the largest and so being able to extract
Speaker Change: insights and action out of it with an Amplitude agent is something we're really excited about. So, you know, we don't have anything to actually show off today, but there's a team working on it, partly from the command folks and partly from some folks that we already have here at Amplitude, and we're going to be coming out with something in the second half.
Speaker Change: My goal will be to have something that we can maybe do a quick preview during our investor day in March.
Thanks guys, thanks for taking the questions.
Speaker Change: Thank you. Our next question will come from Clark Wright from DA Davidson followed by Jackson Ader at KeyBank.
Speaker Change: Thank you. I guess building off of Kobi's question around the AI theme, I would love to hear a little bit more about how you're seeing the role of product analytics change within the enterprise as AI is integrated into the user experience. It seems like the conundrum that you identified earlier where you see more pop-ups is only becoming more prevalent now.
Speaker Change: Yeah, so the big, okay, let me hit a few different things on that. So the big problem with
Speaker Change: The kind of biggest blocker to someone getting value out of Amplitude, or any digital analytics today, is that they have to go in there manually, and know what to query, know what to extract from an insight standpoint.
Speaker Change: It's 100 times easier than using SQL, so you can have non-technical folks do it, but you still have to learn a little bit about the data.
Speaker Change: What's much more valuable is if you have an AI that's combing over that data all the time, and then just surfacing you, hey, hey, we saw a spike in usage of this feature today, or hey, this release, there's a bug in it here, can we roll it back? That's much more valuable, because now instead of only humans looking over the part of the data that they are, you know, you can have AI just looking over 100% of it all the time.
So that's incredibly valuable.
Speaker Change: On the pop-up front, you know, it's funny because I think a lot of it actually reminds me of
in pop-up guides.
Spenser Skates, Christopher Harms, Spenser Skates, Christopher Harms, Spenser Skates,
Speaker Change: all sorts of stuff. And so part of the advantage of
Speaker Change: guides and surveys being integrated with the analytics data is you can customize. So like I showed the confusion, hey, if you see a user is confused, you can intervene specifically. Or if you see a power user really likes a feature, then you can give them the latest updates in that feature. And so you're giving much more tailored guides.
Speaker Change: to the right user at the right time. And that, you know, I think we've seen the engagement rates on a pop-up that's customized like that be two to 10 times higher than just kind of the average spam that you get from a median guides and service product.
Speaker Change: Thanks for that, Keller. And then, Andrew, a quick one for you. In terms of the linearity, or I guess maybe the delta between ARR growth and revenue growth for 2025, how should we be thinking about some of the drivers of that and kind of see the acceleration continue in ARR growth going forward?
Andrew Casey: Well, I tell you first, we're really pleased with the progress we are making, and a lot of the leaders we're pulling are really showing up. Whether you think about that in terms of coverage or changes in segmentation.
Andrew Casey: We're working on changes in our pricing model, our contract duration is increasing. All those things are instrumentation we put in place to really emphasize the enterprise model and focus. And so we'll be talking a lot more about that on our investor day and how those are starting to show up and just increasing disclosures we're going to have. But I would tell you that it's been a journey throughout 2024. We made investments to really position ourselves to see the growth that we have. And I certainly expect that if we continue to execute, we'll see continued progress.
Okay.
Bye!
Speaker Change: Thank you. Our next question will come from the line of Jackson Ader from KeyBank, followed by Nick Altman of Scotiabank. I believe Kyle is on for Jackson. Kyle, the floor is yours.
Speaker Change: Great. Thanks, guys. Kylon from Jackson here. Maybe just a quick question on how we think about the shape of revenue growth throughout the year. As you guys kind of focus more on the enterprise and it becomes more prevalent, should we begin to think about the fourth quarter kind of becoming a larger growth period, you know, or sequentially to the third quarter and kind of more important?
Speaker Change: Just on, I think you kind of alluded to macro being a little bit squishy still with some customers, is there anything you guys could call out there between international and, you know, North American revenue? Thanks.
Speaker Change: So, I'll start. Yeah, go for it. All right. So the 1st, I think it's, it's absolutely right. The more and more we see a percentage of our.
Andrew Casey, Yaoxian Chew, Spenser Skates, Christopher Harms
Speaker Change: and Ford Pipeline was 30 to 40 percent. Now it's upwards of 80 percent representing enterprise clients. So we certainly think that the levers we've pulled, although they have a lagging impact of the sales cycles, they are showing up in a material way and they are the underpinnings of the reason why we're a little bit more positive about the forward guidance.
Speaker Change: The one other call out I'd make is that, you know, because
Andrew Casey, Yaoxian Chew, Spenser Skates, Christopher Harms
Andrew Casey: So exactly, you know, how does Q1 compare to Q2, compare to Q3? There's going to be variability. To Andrew's point, I think you'll have probably a little higher weighting to Q4 and a little lower weighting to Q1. But I think the bigger impact will just be quarter to quarter variability. You know, as deals come in or push or you sign a large deal, one quarter versus the next. And so that would be the biggest.
Andrew Casey: I've said we're on the path to reaccelerating the business, we demonstrated that in Q4, we expect to demonstrate that this year, exactly how it manifests quarter to quarter may change.
Andrew Casey: Yeah, and I think just maybe to add to that too, you saw that in Q3 where we had a number of really large expansions in Q3, not as much new logo, not as many new lands. Q4 was actually one where we had a record number of new enterprise lands.
Andrew Casey: and not the same number of expansions that we saw in Q3, at least the size of it. So it's much more broad-based and sets us up very well for expanding those customers in the future. Sorry, what was the second part of the question? I forgot.
Speaker Change: Yeah, just around if there was anything meaningful to call out if you saw any bifurcation between strength in North American versus international.
Speaker Change: To hear a lot of press from others, but I would tell you just to be clear amplitude engages in U S dollar with.
Speaker Change: With the majority of our transactions so.
Speaker Change: Although we could see some headwinds with respect to foreign currency translations and their respective discounting on deals.
Speaker Change: From a translation perspective, we really don't we're not really anticipating any major impacts on growth. Yes, Q4 was pretty broad based in terms of achieved achievement kudos to both actually want to call out our both our EMEA teams and our a P. J teams for putting up great results. So is good across the board.
Speaker Change: Great. Thank you guys.
Speaker Change: Thank you. Our next question will come from Nick Altmann from Scotiabank, followed by Taylor Mcginnis of UBS.
Speaker Change: Awesome. Thank.
Speaker Change: Thank you so much.
Speaker Change: You guys just alluded to the record of net new enterprise lands in the quarter clearly, that's our strategy going forward or a focus going forward.
Speaker Change: The large customer side of the equation can you maybe just talk about how those land asps, especially at the enterprise level are sort of trending.
Speaker Change: And going forward, how do you sort of expect the expansion cadence has to play out those customers because I know you've talked about <unk>.
Speaker Change: And some of your more recent customer cohorts right Youre seeing actually healthier expansion. So maybe just talk about the land asps for the enterprise strength and then sort of.
Speaker Change: Any color you can kind of provide on a go forward basis as to how you expect the expansion motion for those customers. Thank you.
Speaker Change: Is that material change and the land is PS.
Speaker Change: Especially when you consider there is still a predominance of them still language with analytics as a starting point.
Speaker Change: And I'll take a G tube landed 100 day with the potential expansion 20 times any day.
Speaker Change: The really interesting thing thats starting to happen is we're seeing more and more customers land with multi product.
Speaker Change: They understand the story they understand the value proposition. They may even have a long term rollout of all of our capabilities, but they are willing to invest with amplitude.
Speaker Change: They understand.
Speaker Change: The innovation and the engine that we're creating and so I think both of those things and we'll have to balance a little bit as we think about where our <unk> is going to go and the potential for expansions. Each one of those accounts have a little bit of detail for you on Investor day of how we're thinking increasingly about appealing to more traditional GTK customers, but there's a there's a little bit of.
Speaker Change: Of push and pull going on right now, where we're definitely trying to be targeting enterprise clients and but we're offering them a robust.
Speaker Change: Set of capabilities that we just didn't have historically, so there's a little bit of pushing pool yet.
Speaker Change: The one trend that I wanted to call out that I did mentioned in the prepared remarks is that.
Speaker Change: We are seeing faster time to replace legacy Martech.
Speaker Change: Enterprise analytics solutions and so.
Speaker Change: Sometimes we've had there's been a few cases, where we've actually come in and replace the whole thing wholesale. If you were to go back three years three to five years normally we kind of come alongside them and run side by side, but now we're seeing more direct replacements, where they're saying hey, we're going to shut down the legacy enterprise Martech solution and go over to amplitude.
Speaker Change: And sometimes that can happen in the land right off the bat, sometimes it takes a year or two you would start the land small and you go to the full replacement, but that that to me is the biggest thing.
Speaker Change: Really care about.
Speaker Change: Obviously, I'd love to land it right off right away, but.
Speaker Change: It's the customer gets the same point, where they're using amplitude as the system of record for digital analytics, that's a win and so we're seeing that happen.
Speaker Change: We're seeing a bunch of cases that happened in the last year, where that hasnt happened prior and so we want to accelerate that this year.
Speaker Change: Great. Thank you.
Speaker Change: Thanks, Nick.
Speaker Change: Our next question will come from the line of the Taylor Mcginnis from UBS, followed by Tyler Radke from Citi.
Speaker Change: Go ahead Tim.
Speaker Change: Yeah, Hi, guys. Thanks, so much for taking the time Tonight I'd love to just hear how your customer conversations are evolving or are you starting to see evidence in the pipeline of net upsells are improving.
Speaker Change: So is that being driven by a return of volume growth is that more cross sell and the reason why I ask is because it seems like you guys had talked about a lot of the improvement to date coming from that improvement in churn. So just as we think about when we could start to see those net up sounds like maybe a bigger inflection in IRR or net new <unk>.
Speaker Change: Like any insight I guess that you guys are getting from your customer base there.
Speaker Change: So I don't want to separate it a few things first I think the biggest change on the Upsells is much more of it is coming from cross sell of the platform. So it's less like volume you know if you were to 2021 universally volume today. It's actually platform is the majority of those upsells so going to experiment Act.
Speaker Change: Nation, which we used to call CDP guidance survey session replay what have you.
Speaker Change: So that's to me very healthy because then it's like okay.
Speaker Change: Youre not worrying about you'd know youre getting more value by buying more versus paid if just because im going.
Speaker Change: Up in data volume doesn't necessarily mean I'm confident as a buyer in that I'm getting more volume. So that I think drove some great growth last year to part of in my prepared remarks, I talked about hit 75% of customers still just analytics only so there is still we see a lot of upside over the next few years.
Speaker Change: On that expansion trend now separate from that I think you have.
Speaker Change: Churn elements on analytics in particular.
Speaker Change: With two big ones. The first is right sizing of large contracts and then the other is down market. So with the right sizing of large contracts we are now.
Speaker Change: That's always a little bit of a fear, but we're past most of them. So before we were dealing with maybe three or four quarter that had big risk now we're dealing with somewhere between zero, one maybe two and a quarter that have that sort of risk. So there's always there's always that risk. When you have multiple multimillion dollar contracts and tech companies, where they're looking to reduce spend.
Speaker Change: But it's significantly we're now more at a more normal run rate of that.
Speaker Change: This year than we were than we were last year was kind of the peak of that.
Speaker Change: I think the one place where we haven't really seen improvement yet, but this is part of where we want to continue to improve on churn and that will structurally drive growth is on the lower end of the market. So that continues to be.
Speaker Change: Particularly with tech startups and.
Speaker Change: Companies go on a business at some level is what it is and so part of our thing is like all right focus on the enterprise make a larger proportion of AOR comfort from there.
Speaker Change: And as that transition happens and the Downmarket stuff is smaller that will be less of a headwind to growth. So I do expect to see improvement.
Speaker Change: That's all to say I do expect to see improvement from that as we go through this year.
Speaker Change: Perfect. Thanks for that and then maybe just a follow up Andrew I know that theres, probably uncertainty in terms of how.
Speaker Change: <unk> can trend throughout that throughout the year and how that new era can trend, but can you help us like Cambridge, or maybe a little bit more color on <unk> anything we can take away from the trends that we saw on <unk> and how that my follow up Alan.
Speaker Change: Okay.
Speaker Change: I think you always have a situation from Q4 to Q1, where.
Speaker Change: Hugh you reset.
Speaker Change: In our business like I said before was very much a calendar based and we're making changes in your territory setups.
Speaker Change: Changes in our product positioning segmentation. So all of that takes a little time. So I think you ought to think in terms of Q4 is going to be our strongest period from an IRR perspective in Q1 will show quarter over quarter likely.
Speaker Change: A decline in the total amount because youre doing that reset your taking time to get comp plans out and everything set up the right way for the full year, having said that we are.
Speaker Change: Credibly optimistic about pipelines, we have the sales team is getting settled focusing on selling the platform all the new capabilities, we're introducing so I think youll see.
Speaker Change: Pattern it exhibits us ramping throughout the year.
Speaker Change: Awesome. Thank you so much.
Speaker Change: Taylor.
Speaker Change: Our next question comes from Tyler Radke from Citi, followed by Arjun Bhatia from William Blair.
Speaker Change: Kim Zone for Tyler So Ashley the floor is yours.
Speaker Change: Spencer and Andrew Thanks for the question just wanted to ask about some of the momentum with our newer products that amplitude and how much it's baked into the guidance for this year.
Speaker Change: So certainly I would tell you.
Speaker Change: Our guidance is more reflective of a broader set of investments and actions, we're taking from an enterprise perspective.
Speaker Change: Anyone product frankly is is not important as the total platform and value, we're delivering to our clients, but having said that our new products are driving incremental opportunities. They are driving greater value for our customers and equally for us. So I wouldn't I wouldn't break down our guidance by product line in particular, but it's not <unk>.
Speaker Change: Having them would be very detrimental to our growth having our products is really the fuel through which we will drive greater and greater growth.
Speaker Change: Got it and maybe if I could squeeze in one more question I think during the call and you mentioned some key accounts that are watching for potential churn just wanted to ask if you could provide a bit more color on those accounts and what youre doing.
Speaker Change: To mitigate anyways, yes, sorry, I actually wanted to distinguish between two terms one is churn and then the other is contraction.
For key accounts.
Speaker Change: 90% like 90% of it the concern is contraction so they'll still be amplitude customers will still use us this will still generate value. It's just managing their.
Speaker Change: Renewal year to year with how much they want to actually spend and so that's what we're that's what we're watching we've seen that the risk from that come significantly.
Speaker Change: <unk> down now we think.
Speaker Change: Vast majority of those customers are at the right size, but you're kind of always watching it quarter to quarter and so we're not really concerned about any of the larger accounts churning.
Speaker Change: But we want to make sure that their spend levels kind of stay even versus within all over the place.
Speaker Change: Thank you.
Speaker Change: Thank you. Our next question is from Arjun Bhatia from William Blair, followed by Rob Oliver from RW Baird.
Speaker Change: Our generic yet.
Speaker Change: Thank you.
Speaker Change: Congrats on the nice Q4 here.
Speaker Change: Especially maybe one for you just as we're thinking about.
Speaker Change: Our movement into the enterprise from a product perspective is there anything that needs to change in terms of integrations that you've that you have or systems that these larger customers will happen or different.
Speaker Change: But you have to integrate with our interface with on a more regular basis and how do you think about kind of the R&D or the development. That's still left to be done there as you move up market.
Speaker Change: Yeah.
Speaker Change: There's not any one big thing, it's like Oh, you do this or solve for enterprises forever. It's like there's always a growing list of compliance and data integration requirements I'll call out a few first the first big one that we did last year, which I mentioned in prepared remarks is data access controls. So that's a big deal being able to make sure to assign different.
Speaker Change: Users on the platform to have access to different data so.
Speaker Change: Only certain people can see revenue data are only certain people can see.
Speaker Change: Or anything Thats protected.
Speaker Change: That was a very important capability.
Speaker Change: Particularly of the larger enterprises.
Speaker Change: The thing we're doing to build on that his role based access controls.
Speaker Change: That.
So that was database access controls, which you're protecting certain bits of data from certain people role based access controls are allowing you to customize the roles in the sort of functionality that they have access to and so that's going to be that's on our roadmap for this year and a key requirement for a bunch of our enterprise customers.
Speaker Change: So that's the kind of the first bucket.
Speaker Change: From a security standpoint second is.
Speaker Change: From a data standpoint, one of the things you see particularly at larger enterprises that their data is all over place maybe in data warehouse like snowflake or data breaks and maybe beyond their own cloud data store. It may be on our internal data store and so you have to do more customization to work with where the data is one.
Speaker Change: One of the big things that we did that we just delivered on his data mutability, which is how do you keep the amplitude data store in sync with a data set that's constantly changing.
Speaker Change: So let's.
Speaker Change: Let's say a user refunds of purchase how do you make sure to make that reflect on the amplitude side as well. So we delivered the first version of that I think.
A month or two ago.
Speaker Change: And then there's going to be more requirements on like okay. Well can you get data from this particular data cloud like Oracle data cloud or or other data source and thats just as they come up we do them. They are not like some massive lift for us to be able to do and it's just a natural part of continuing to go up market and we will prioritize what has the best.
Speaker Change: Short term ROI on that.
Speaker Change: Okay perfect Super helpful.
Speaker Change: And then.
Speaker Change: One for Andrew.
Speaker Change: I know this is your maybe first time.
Speaker Change: Giving guidance and amplitude.
Speaker Change: Can you, maybe just help us understand or for the full year at least can you help us understand.
Speaker Change: <unk> philosophy, and maybe what you're embedding in the outlook are in the initial outlook for 2025, it sounds like macro is still.
Speaker Change: A headwind it has not improved yet.
Speaker Change: But give us a sense for conservatism in execution.
Speaker Change: Question that you are baking in well I'll tell you the guidance is the guidance.
Speaker Change: But I can tell you is some route it in what we can control we use the lens of execution not betting on future macro improvements to establish the basis of our guidance and what I mean by that is the things that we're doing around our coverage model, our pricing and packaging our products that we're introducing.
Speaker Change: Those things are things that we will be able to go and focus on drive value for our clients.
Speaker Change: And that shows up in pipeline and that pipeline has generally dynamics around conversion rates and progress.
Speaker Change: And how we operate is really the underpinnings of the guidance itself and so.
Speaker Change: In Q3, I talked about our philosophy of having growth with leverage you'll see that throughout pattern of 2025, and our guidance is predicated on that in Q1, we've got what I would call. Some nonrecurring expenses associated to kick off of the year at least for the fiscal period.
Speaker Change: And that in itself our investments if you will on making sales sales teams more effective marketing programs convert at a higher rate getting better data and understanding of targeting direct customers. All those things are all a kickoff of investments for the year and then they should they should enable us to drive greater and greater scale as we move forward.
Speaker Change: And grow the business.
Speaker Change: Alright, perfect. Thank you.
Rob Oliver: Thank you. Our next question is from Rob Oliver from Baird.
Speaker Change: With our last question will be Elizabeth Porter from Morgan Stanley, but Rob the floor is yours.
Speaker Change: Yes, Gregg Hey, guys. Thanks can you hear me okay.
Rob Oliver: Yes.
Rob Oliver: Okay perfect. My background is hiding the fact that met a car so I apologize for that.
Rob Oliver: So yeah, a couple of questions one.
Spenser Skates: Spencer you you've called out.
Spenser Skates: That you guys have seen really nice traction from the Google analytics end of life and some of those accounts and given all the investment you guys have made in the product and the platform.
Spenser Skates: Generative AI I'd be curious to hear.
Spenser Skates: B, a pretty stunning juxtaposition for those that are now in the market. So I'm just curious to know what those conversations are big bolus behind us now or are there still customers here throughout 2025 that you will expect to migrate over and then I had a follow up for Andrew Yeah. So on Google and you just got to understand it's like 50% of websites are on this thing okay. So.
Spenser Skates: It's not like.
Spenser Skates: Most of them are paying of course, but.
Spenser Skates: It's a huge ocean of potential customers and so as we continue building our leadership versus Google analytics, we're going to continue to see more and more come from that I think the way I think about it as kind of Google analytics. This is almost the starter.
Spenser Skates: Digital analytics application that every product or marketing person starts out with.
Spenser Skates: And.
Spenser Skates: What we think about is how do you create and smooth easy upgrade path to amplitude over time, where someone looks at it as like Oh like this is going to be way better. So I think that's going to we'll continue to see that be a tailwind, we're actually going to be doing quite a bit on marketing analytics, specifically within digital that will help improve that.
Spenser Skates: We will announce a bunch on that in Q2, so I expect that to.
Spenser Skates: Be relevant for the next decade for us.
Speaker Change: Got it helpful. Thanks, and then Andrew this could be for you also for sensor as well.
Speaker Change: Sounds like you guys have.
Speaker Change: <unk> done some nice work aligning here with the strategic the strategic accounts team.
Speaker Change: We're really focused deep into these customers at a time when you guys have a lot more to offer them and you've mentioned the customers I think Spencer in your prepared remarks, you mentioned that whereas we get really good returns from these customers and they get value still 75% around one product. So I'd be curious now Andrew from your perspective now having been in you see a few <unk>.
Speaker Change: Orders in the strategic accounts team now for I think three or four if I'm not mistaken how what what what what is what's sort of the changes that you've seen for them in terms of your traction in your pipeline generation at enterprise and I guess, the second part of that would be.
Speaker Change: Any chance that I know.
Speaker Change: The number of customers per quarter.
Speaker Change: That are potentially going to down renew was less but how does this help to mitigate that risk I would think with those very large customers. This. This this team would play a key role in helping communicate that downside risk. Thank you guys very much.
Speaker Change: There's a couple of good questions in there. So let me let me start with first win when we deployed the investment.
Speaker Change: The sales teams within strategic accounts or as both existing customers and high value prospects. Because every customer is out there trying to figure out how they can better digitally engage with their customers and they're doing it in lots of different ways, but they really don't know that they are effective unless they're understanding the data elements that are being captured by those engagements and adjusting their needs.
Speaker Change: This team was set up to really go after the largest due to case in the world that are there.
Speaker Change: That are struggling trying to figure out how they digitally engage with their clients are more effective way and deliver services or products to those clients in a more effective way and so we recognize this and having a a classic enterprise focused sales team that understands the customers' problems and understands how we can be uniquely.
Speaker Change: Positioned to solve those problems.
Speaker Change: Is one that is increasingly getting more and more effective it gets more effective because we are innovating. The product itself is not just an analytics product. It's a product under which you can derive a lot of different services around the analytics and insights that are being generated and so.
Speaker Change: The more we are effective at driving more.
Speaker Change: Multi product engage with clients the greater value they get the more that those clients C. C. Amplitude is a critical part of their capability to generate revenue and engage with our clients the more they will reward us with.
Speaker Change: Greater and greater purchases of amplitude and we earn the right to get to that point by delivering extreme value to our clients and what happens in that as you see contract durations increase which.
Speaker Change: It gives us.
Speaker Change: Our growth in our RPM greater visibility into our revenue gross retention rates improve because now we are really essential to the customer's operations and so all of these activities that we've invested in around the enterprise and creating great products to fulfill those needs.
Speaker Change: The underpinnings of our growth strategy and frankly, the reduction ensured long term.
Super helpful. Thanks, guys I appreciate it.
Speaker Change: Thank you and our last question will come from the line of Elizabeth Porter at Morgan Stanley Go ahead, great. Thanks, So much I wanted to double click on that opportunity to better cross sell the basis 75 customers that are only one amplitude product.
Speaker Change: So can you just help us understand.
Speaker Change: But what's the biggest hurdle to bang for that multi product adoption because it seems like the portfolio youre, putting together it really makes a lot of phones.
Speaker Change: Together.
Speaker Change: Just kind of related what's the go to market strategy really driving occupancy and more education. That's needed is there something we can do on pricing and bundling yeah, yeah, great Great question Elizabeth.
Speaker Change: I think what we've done well is particularly with new customers, helping them understand that we're a platform I mentioned.
Speaker Change: 67% of our larger lands last quarter actually for multiple products. So that was great.
Speaker Change: We've got that motion dialed in as new customers make up a larger portion of the user base, you'll see that reflect on the rest. The part I think we did not do as well.
Last year was on the existing customer renewals.
Speaker Change: I think we see the rate.
Speaker Change: Of additional products much much less it's like 10% to 20% on renewal and.
Speaker Change: Kind of what we're realizing it's just easy to think of us once youre buying us for analytics as easy to get put in that box and for them to call up there.
Speaker Change: Their sales person and just say Hey give me the analytics demo and let's keep doing this use case.
Speaker Change: And so we put some specific incentives and training in place this year to specifically drive multi product for renewals, which we didn't have a prior so getting the existing renewal base to turnover to the become multiple products.
Speaker Change: It's kind of the big lever for us.
Speaker Change: And then just as a follow up.
Speaker Change: On the margins I understand there's a lot of indefinitely to care, particularly around the go to market, but curious to get any sort of better visibility into the midterm model.
Speaker Change: Philosophically, how we should think about top line upside potentially flowing through to margin or just given up the opportunity is it more likely that we're going to see you guys push the gas.
Speaker Change: No.
Speaker Change: I think we've talked about.
Speaker Change: We made a lot of investments that were not quite at the productivity curve, we expect but I would tell you that certainly sales and marketing G&A. They were areas I had it in Q3 and I would say again in Q4 were not where we want them to be as far as an efficiency perspective, as an and earlier in the call I was talking about what are the indicators that would suggest that we would invest more in.
Speaker Change: Sales and marketing given that that productivity has increased.
Speaker Change: To a point, where the data is telling you. It's time to go do that we're not there yet and so I would tell you.
The amount of growth that we're thinking we're going to be doing throughout 2025 and were certainly expecting that that's going to come with leverage.
Speaker Change: Thank you so much.
Speaker Change: Thank you and that will conclude our fourth quarter earnings call. Thank you for your time and interest.
Speaker Change: The host our Investor Day on March 10th in New York City at the NASDAQ market site, starting at 230 P. M. Eastern time, we do have limited capacity, but if you would like to attend in person. Please reach out to me at IR at amplitude dotcom and.
Speaker Change: In addition to our Investor day, we will be attending a number of conferences this quarter, including those hosted by Baird Morgan Stanley JMP, Keybank and Cantor Fitzgerald.