Amplitude Announces Fourth Quarter and Fiscal Year 2021 Financial Results|||

  • Fourth quarter acquirement of $49.4M, up 64% year-over-yr
  • Fiscal 2021 revenue of $167.3M, up 63% year-over-yr
  • Current Remaining Functioning Obligations of $137.3M, up 60% year over year

SAN FRANCISCO–(Business concern WIRE)–$AMPL #earnings—Amplitude, Inc. (Nasdaq: AMPL), the pioneer in digital optimization, today announced financial results for its fourth quarter and financial year concluded December 31, 2021.


2021 was a breakthrough year for Aamplitude. Digital products are becoming the fundamental driver for how businesses operate, go to market and generate acquirement,” said Spenser Skates, CEO and co-founder of Amplitude. “
Strong execution combined with demand for the Amplitude Digital Optimization System drove our fiscal twelvemonth 2021 results. We believe we are in the very early stages of a large market place opportunity, and we’re excited to help companies realize the business concern outcomes of digital optimization.”

Fourth Quarter 2021 Financial Highlights:

(in millions, except per share and percentage amounts)

Fourth

Quarter 2021

4th

Quarter 2020

Y/Y Change

Revenue

$49.4

$30.ane

64%

Remaining Performance Obligations

$170.1

$95.6

78%

Current Remaining Performance Obligations

$137.3

$85.7

60%

GAAP Loss from Operations

$(21.v)

$(five.ane)

$(16.4)

Not-GAAP Loss from Operations

$(five.0)

$(0.2)

$(4.eight)

GAAP Net Loss Per Share

$(0.twenty)

$(0.21)

$0.01

Non-GAAP Net Loss Per Share

$(0.05)

$(0.02)

$(0.03)

Internet Cash used in Operating Activities

$(xi.one)

$(3.0)

$(eight.1)

Free Cash Flow

$(12.2)

$(iii.8)

$(8.4)

Fiscal Year 2021 Financial Highlights:

(in millions, except per share and per centum amounts)

FY 2021

FY 2020

Y/Y Alter

Acquirement

$167.3

$102.5

63%

Remaining Performance Obligations

$170.1

$95.6

78%

Current Remaining Performance Obligations

$137.iii

$85.7

60%

GAAP Loss from Operations

$(74.1)

$(24.0)

$(50.i)

Not-GAAP Loss from Operations

$(14.half dozen)

$(6.half dozen)

$(viii.0)

GAAP Internet Loss Per Share

$(1.46)

$(0.98)

$(0.48)

Non-GAAP Net Loss Per Share

$(0.30)

$(0.29)

$(0.01)

Net Cash used in Operating Activities

$(31.vii)

$(10.four)

$(21.iii)

Free Cash Flow

$(34.ix)

$(12.six)

$(22.3)

Non-GAAP loss from operations and non-GAAP net loss per share exclude expenses related to stock-based compensation expense and related employer payroll taxes, acquittal of acquired intangible assets, and not-recurring costs, such as direct listing costs. Stock-based compensation expense and employer related payroll taxes were $16.0 million in the 4th quarter of 2021 compared to $4.seven million in the quaternary quarter of 2020, and $39.7 million for the total year 2021 compared to $xvi.6 million for the total year 2020. These increases were driven past an increment in the fair value of Aamplitude’s mutual stock and increases in our employee headcount. Complimentary cash flow is GAAP internet cash used in operating activities, less cash used for purchases of property and equipment and capitalized internal-use software costs. The section titled “Not-GAAP Fiscal Measures” beneath contains a clarification of the non-GAAP financial measures and reconciliations between historical GAAP and non-GAAP information are contained in the tables below.

Fourth Quarter and Recent Business Highlights:

  • Number of paying customers grew 54% yr-over-year to i,597.
  • Dollar-based cyberspace retention rate at the end of December 31, 2021, was 123% compared to 119% at the end of Dec 31, 2020.
  • G2’s 2022 Best Software Awards ranked Amplitude as the #iii best software product overall and #5 best enterprise product. The G2 Winter 2022 Written report too ranked Amplitude as the #i Product Analytics solution for the sixth quarter in a row and #i in Mobile Analytics.
  • In November at re:Invent, the Amazon Web Services (AWS) team announced Amplitude’s designation equally an AI for Information Analytics (AIDA) solution, a gear up of solutions that leverage AWS bogus intelligence (AI) and machine learning (ML) services to accept the complexity out of AI-based insights.

Financial Outlook:

The first quarter and full year 2022 outlook data provided below are based on Amplitude’s current estimates and are not a guarantee of time to come performance. These statements are forwards-looking and actual results may differ materially. Refer to the “Forward-Looking Statements” department below for information on the factors that could cause Aamplitude’s actual results to differ materially from these forward-looking statements.

For the commencement quarter and full year 2022, the Visitor expects:

First Quarter 2022

Full Twelvemonth 2022

Revenue

$50 – $51 million

$226 – $234 1000000

Non-GAAP Operating Margin

(22%) – (twenty%)

(22%) – (xx%)

Not-GAAP Net Loss Per Share

$(0.10) – $(0.09)

$(0.44) – $(0.42)

Weighted Boilerplate Shares Outstanding

109.5 million

111.9 million

An outlook for GAAP loss from operations, GAAP operating margin, and GAAP net loss per share and a reconciliation of expected non-GAAP loss from operations to GAAP loss from operations, expected not-GAAP operating margin to GAAP operating margin, and expected non-GAAP cyberspace loss per share to GAAP net loss per share have non been provided as the quantification of certain items included in the calculation of GAAP loss from operations, GAAP operating margin, and GAAP net loss per share cannot be reasonably calculated or predicted at this time without unreasonable efforts. For example, the non-GAAP adjustment for stock-based bounty expense requires additional inputs such every bit the number and value of awards granted that are not currently ascertainable, and the non-GAAP adjustment for acquittal of acquired intangible assets depends on the timing and value of intangible assets acquired that cannot be accurately forecasted.

Conference Call Information:

Aamplitude volition host a live video webcast to discuss its financial results for the fourth quarter and financial year ended December 31, 2021, also as the fiscal outlook for its outset quarter and full year 2022 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 bachelor in the aforementioned location a few hours after the conclusion of the live webcast.

Forwards-Looking Statements:

This press release contains express and implied “frontward-looking statements” inside the meaning of the Individual Securities Litigation Reform Human action of 1995, including statements regarding the Visitor’due south financial outlook for the first quarter of 2022 and total year 2022, the Company’s growth strategy and business aspirations and its market place position and marketplace opportunity. These statements are oftentimes, but non always, made through the use of words or phrases such equally “may,” “should,” “could,” “predict,” “potential,” “believe,” “expect,” “continue,” “volition,” “anticipate,” “seek,” “approximate,” “intend,” “plan,” “projection,” “would,” and “outlook,” or the negative version of those words or phrases or other comparable words or phrases of a futurity or frontward-looking nature. These forward-looking statements are non 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 Visitor’s control. These statements are subject to numerous uncertainties and risks that could cause actual results, performance, or accomplishment 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 hard to forecast the Company’due south hereafter results of operations; the Company’s history of losses; whatsoever turn down in the Company’due south customer retentiveness or expansion of its commercial relationships with existing customers or an disability to attract new customers; expected fluctuations in the Company’southward fiscal results, making information technology hard to project hereafter results; the Company’south focus on sales to larger organizations and potentially increased dependency on those relationships, which may increase the variability of the Visitor’south sales cycles and results of operations; downturns or upturns in new sales, which may not be immediately reflected in the Visitor’s results of operations and may be hard 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 Visitor expects or decline; the Company’s intellectual property rights, which may not protect its business or provide the Company with a competitive advantage; and evolving privacy and other data-related laws. Additional risks and uncertainties that could cause bodily outcomes and results to differ materially from those contemplated by the forrard-looking statements are or volition be included under the explanation “Gamble Factors” and elsewhere in the reports and other documents that the Company files with the Securities and Exchange Commission from time to time. The forrard-looking statements made in this press release chronicle only to events equally of the date on which the statements are made. The Company undertakes no obligation to update any forrad-looking statements fabricated in this press release to reflect events or circumstances after the date of this printing release or to reflect new data or the occurrence of unanticipated events, except as required by police force.

Non-GAAP Financial Measures:

This press release includes financial information that has not been prepared in accordance with GAAP. The Company uses not-GAAP financial measures internally in analyzing its fiscal results and believes they are useful to investors, equally a supplement to GAAP measures, in evaluating the Company’s ongoing operational functioning. The Company believes that the use of these non-GAAP fiscal measures provides an additional tool for investors to utilize in evaluating ongoing operating results and trends and in comparison the Visitor’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 utilize of non-GAAP financial measures versus comparable financial measures determined under U.South. GAAP. For example, other companies in the Company’due south industry may calculate these non-GAAP financial measures differently or may apply other measures to evaluate their performance. In addition, free greenbacks menses does non reflect the Visitor’s future contractual commitments and the total increase or subtract of its cash balance for a given period.

Non-GAAP financial measures should non be considered in isolation from, or equally a substitute for, financial data prepared in accordance with GAAP. A reconciliation of the Company’s non-GAAP fiscal measures to their most directly comparable GAAP measures has been provided in the fiscal statement tables included below in this press release. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their nearly straight comparable GAAP financial measures below.

Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP Operating Expenses, Non-GAAP Loss from Operations, Non-GAAP Operating Margin, Non-GAAP Net Loss, and Not-GAAP Loss per Share.

The Company defines these non-GAAP fiscal measures as their respective GAAP measures, excluding expenses related to stock-based compensation expense and related employer payroll taxes, amortization of caused intangible assets, and not-recurring costs, such as directly listing costs. The Visitor excludes stock-based compensation expense and related employer payroll taxes, which is a non-cash expense, from sure of its not-GAAP financial measures because information technology believes that excluding this item provides meaningful supplemental information regarding operational performance. The Company excludes amortization of intangible avails, which is a non-cash expense, related to business organisation 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 Visitor’southward business. Although the Company excludes these expenses from certain non-GAAP fiscal measures, the revenue from acquired companies subsequent to the date of acquisition is reflected in these measures and the acquired intangible avails 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 echo period over menstruation and are not reflective of the ongoing operation of the Company’due south business organisation.

The Company uses not-GAAP gross profit, non-GAAP gross margin, not-GAAP operating expenses, non-GAAP loss from operations, non-GAAP operating margin, non-GAAP cyberspace loss and non-GAAP loss per share in conjunction with its traditional U.Due south. GAAP measures to evaluate the Visitor’s fiscal performance. The Company believes that these measures provide its direction and investors consistency and comparability with its past financial operation and facilitates period-to-period comparisons of operations.

Free Greenbacks Flow and Margin. The Company defines gratuitous cash flow equally net greenbacks used in operating activities, less cash used for purchases of belongings and equipment and capitalized internal-use software costs. The Visitor believes that free cash flow is a useful indicator of liquidity that provides its management, board of directors, and investors with information about its futurity power to generate or utilise cash to enhance the strength of its balance sail and further invest in its business and pursue potential strategic initiatives. Costless greenbacks flow margin is calculated as free greenbacks period divided past total revenue.

Definitions of Business organisation Metrics

Dollar-based net retention rate

The Company calculates dollar-based net memory rate as of a flow end past starting with the Almanac Recurring Acquirement (“ARR”) from the accomplice of all customers as of 12 months prior to such catamenia-stop (the “Prior Period ARR”). The Visitor then calculates the ARR from these same customers as of the current menstruation-end (the “Current Period ARR”). Current Period ARR includes any expansion and is cyberspace of contraction or compunction over the final 12 months, merely excludes ARR from new customers as well equally any overage charges in the current catamenia. The Company so divides the total Electric current Period ARR by the total Prior Period ARR to make it at the signal-in-time dollar-based cyberspace retention rate. The Company then calculates the weighted-average of the abaft 12-month betoken-in-time dollar-based internet retentiveness rates, to arrive at the dollar-based net retention rate.

The Visitor defines ARR as the annual recurring revenue of subscription agreements at a bespeak in time based on the terms of customers’ contracts. ARR should be viewed independently of revenue, and does not represent the Visitor’s U.S. GAAP acquirement on an annualized basis, as it is an operating metric that can be impacted by contract start and end dates and renewal rates.

About Amplitude

Amplitude is the pioneer in digital optimization software. Nearly 1,600 customers, including Atlassian, Instacart, NBCUniversal, Shopify, and Nether Armour rely on Amplitude to help them introduce faster and smarter by answering the strategic question: “
How practise our digital products drive our business?” The Amplitude Digital Optimization Organisation makes disquisitional data accessible and actionable to every team — unifying product, marketing, developers, and executive teams around a new depth of customer understanding and common visibility into what drives business outcomes. Amplitude is the best-in-class product analytics solution, ranked #ane in G2’s 2022 Winter Report. Acquire how to optimize your digital products and business at aamplitude.com.

Aamplitude, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(unaudited)
December 31, 2021 Dec 31, 2020
Assets
Current assets:
Cash and cash equivalents

$

307,445

$

117,783

Restricted cash, electric current

ane,080

Accounts receivable, net

twenty,444

17,396

Prepaid expenses and other electric current assets

19,116

6,857

Deferred commissions, current

viii,112

5,563

Total current avails

355,117

148,679

Property and equipment, internet

four,832

two,673

Intangible assets, cyberspace

three,554

1,955

Goodwill

4,073

one,000

Restricted cash, noncurrent

850

Deferred commissions, noncurrent

20,573

13,877

Other noncurrent assets

xi,389

6,898

Total avails

$

400,388

$

175,082

Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable

$

3,363

$

4,417

Accrued expenses

17,936

eight,110

Deferred revenue

69,294

40,797

Total electric current liabilities

90,593

53,324

Noncurrent liabilities

iii,247

1,067

Total liabilities

93,840

54,391

Redeemable convertible preferred stock

187,811

Stockholders’ equity (arrears):
Common stock

ane

Boosted paid-in uppercase

486,354

37,704

Accumulated arrears

(179,807

)

(104,824

)

Total stockholders’ equity (deficit)

306,548

(67,120

)

Total liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit)

$

400,388

$

175,082

AMPLITUDE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(unaudited)

Iii Months Ended December 31,

Year Ended December 31,

2021

2020

2021

2020

Acquirement

$

49,424

$

30,076

$

167,261

$

102,464

Cost of revenue (1)

15,392

ix,202

51,764

30,483

Gross turn a profit

34,032

20,874

115,497

71,981

Operating expenses:
Inquiry and development (i)

xiv,229

6,371

48,251

26,098

Sales and marketing (1)

27,016

14,968

86,025

51,819

General and authoritative (1)

14,272

4,651

55,370

18,067

Total operating expenses

55,517

25,990

189,646

95,984

Loss from operations

(21,485

)

(five,116

)

(74,149

)

(24,003

)

Other income (expense), cyberspace

52

24

195

269

Loss before provision for income taxes

(21,433

)

(5,092

)

(73,954

)

(23,734

)

Provision for income taxes

469

278

ane,029

833

Cyberspace loss

$

(21,902

)

$

(5,370

)

$

(74,983

)

$

(24,567

)

Net loss per share
Basic and diluted

$

(0.20

)

$

(0.21

)

$

(1.46

)

$

(0.98

)

Weighted-average shares used in calculating net loss per share:
Basic and diluted

107,925

25,981

51,360

25,060

(1) Amounts include stock-based compensation expense equally follows:
Iii Months Ended December 31, Year Ended Dec 31,

2021

2020

2021

2020

Cost of revenue

$

1,042

$

180

$

1,951

$

590

Enquiry and evolution

4,159

1,082

13,613

5,582

Sales and marketing

three,870

two,312

7,871

6,512

General and authoritative

5,186

1,054

10,959

3,869

Total stock-based bounty expense

$

xiv,257

$

4,628

$

34,394

$

16,553

AMPLITUDE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF Greenbacks FLOWS
(In thousands)
(unaudited)

Three Months Ended December 31,

Year Ended December 31,

2021

2020

2021

2020

Cash flows from operating activities:
Net loss

$

(21,902

)

$

(5,370

)

$

(74,983

)

$

(24,567

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization

883

549

three,093

i,690

Stock-based compensation expense

14,257

4,630

34,394

xvi,553

Other

34

125

(377

)

251

Changes in operating assets and liabilities:
Accounts receivable

2,356

(i,675

)

(3,033

)

(5,561

)

Prepaid expenses and other current assets

(291

)

(3,103

)

(12,222

)

(one,469

)

Deferred commissions

(ii,574

)

(3,392

)

(9,245

)

(vii,180

)

Other noncurrent assets

(965

)

(three,492

)

(4,491

)

(v,719

)

Accounts payable

146

2,057

(1,054

)

2,414

Accrued expenses

(1,990

)

i,866

v,556

1,726

Deferred revenue

(2,163

)

4,516

28,470

11,047

Noncurrent liabilities

1,105

298

ii,179

423

Net cash provided by (used in) operating activities

(11,104

)

(two,991

)

(31,713

)

(10,392

)

Cash flows from investing activities:
Purchase of property and equipment

(572

)

(506

)

(one,529

)

(984

)

Cash paid for acquisitions, cyberspace of cash acquired

1,724

(3,700

)

Capitalization of internal-use software costs

(568

)

(300

)

(1,693

)

(one,224

)

Net cash used in investing activities

(1,140

)

(806

)

(1,498

)

(five,908

)

Cash flows from financing activities:
Proceeds from issuance of redeemable convertible preferred stock, net

199,802

49,820

Proceeds from the exercise of stock options

5,149

three,053

21,783

four,427

Greenbacks received for tax withholding obligations on equity award settlements

38,562

898

145,481

ane,299

Greenbacks paid for tax withholding obligations on equity award settlements

(42,864

)

(898

)

(144,420

)

(i,299

)

Repurchase of unvested stock options

(2

)

(3

)

(2

)

Net cash provided past financing activities

845

iii,053

222,643

54,245

Net increase in greenbacks, cash equivalents, and restricted cash

(11,399

)

(744

)

189,432

37,945

Cash, greenbacks equivalents, and restricted cash at first of the period

319,694

119,607

118,863

80,918

Cash, cash equivalents, and restricted cash at end of the period

$

308,295

$

118,863

$

308,295

$

118,863

Aamplitude, INC.
Reconciliation of GAAP to Non-GAAP Data
(In thousands, except percentages)
(unaudited)

Three Months Ended December 31,

Twelvemonth Concluded Dec 31,

2021

2020

2021

2020

Reconciliation of gross profit and gross margin
GAAP gross profit

$

34,032

$

20,874

$

115,497

$

71,981

Plus: stock-based bounty expense and related employer payroll taxes

1,043

180

1,952

590

Plus: amortization of acquired intangible assets

500

227

1,651

227

Non-GAAP gross profit

$

35,575

$

21,281

$

119,100

$

72,798

GAAP gross margin

68.9%

69.iv%

69.1%

70.3%

Not-GAAP adjustments

3.one%

i.iv%

2.2%

0.8%

Not-GAAP gross margin

72.0%

70.eight%

71.two%

71.0%

Reconciliation of operating expenses
GAAP research and development

$

xiv,229

$

6,371

$

48,251

$

26,098

Less: stock-based compensation expense and related employer payroll taxes

(4,446

)

(1,099

)

(sixteen,469

)

(5,607

)

Less: amortization of acquired intangible assets

(518

)

Not-GAAP research and development

$

9,783

$

5,272

$

31,782

$

nineteen,973

GAAP inquiry and development as percentage of acquirement

28.8%

21.2%

28.eight%

25.5%

Non-GAAP research and development equally percent of revenue

19.8%

17.5%

19.0%

19.5%

GAAP sales and marketing

$

27,016

$

fourteen,968

$

86,025

$

51,819

Less: stock-based compensation expense and related employer payroll taxes

(five,149

)

(ii,328

)

(9,693

)

(half-dozen,549

)

Less: direct listing expenses

(xiii

)

Non-GAAP sales and marketing

$

21,867

$

12,640

$

76,319

$

45,270

GAAP sales and marketing as percentage of revenue

54.7%

49.8%

51.4%

l.6%

Not-GAAP sales and marketing as percentage of revenue

44.two%

42.0%

45.6%

44.2%

GAAP general and administrative

$

14,272

$

4,651

$

55,370

$

eighteen,067

Less: stock-based compensation expense and related employer payroll taxes

(five,384

)

(i,071

)

(xi,553

)

(3,902

)

Less: direct listing expenses

(xviii,178

)

Non-GAAP general and administrative

$

8,888

$

3,580

$

25,639

$

xiv,165

GAAP full general and administrative as percentage of acquirement

28.nine%

fifteen.5%

33.i%

17.six%

Not-GAAP full general and administrative every bit percentage of acquirement

18.0%

eleven.9%

15.3%

13.8%

Reconciliation of operating loss and operating margin
GAAP loss from operations

$

(21,485

)

$

(5,116

)

$

(74,149

)

$

(24,003

)

Plus: stock-based compensation expense and related employer payroll taxes

16,022

4,678

39,667

xvi,648

Plus: amortization of acquired intangible assets

500

227

one,651

745

Plus: direct listing expenses

18,191

Non-GAAP loss from operations

$

(4,963

)

$

(211

)

$

(14,640

)

$

(6,610

)

GAAP operating margin

(43.5%

)

(17.0%

)

(44.3%

)

(23.four%

)

Non-GAAP adjustments

33.four%

16.iii%

35.six%

17.0%

Not-GAAP operating margin

(10.0%

)

(0.7%

)

(8.eight%

)

(half dozen.5%

)

Reconciliation of net loss
GAAP cyberspace loss

$

(21,902

)

$

(five,370

)

$

(74,983

)

$

(24,567

)

Plus: stock-based compensation expense and related employer payroll taxes

16,022

iv,678

39,667

16,648

Plus: acquittal of acquired intangible assets

500

227

1,651

745

Plus: directly listing expenses

18,191

Non-GAAP net loss

$

(v,380

)

$

(465

)

$

(15,474

)

$

(7,174

)

Reconciliation of net loss per share
GAAP net loss per share, basic and diluted

$

(0.20

)

$

(0.21

)

$

(one.46

)

$

(0.98

)

Non-GAAP adjustments to net loss

0.15

0.19

1.16

0.69

Not-GAAP net loss per share, basic and diluted

$

(0.05

)

$

(0.02

)

$

(0.30

)

$

(0.29

)

Weighted-average shares used in GAAP and not-GAAP per share adding, basic and diluted

107,925

25,981

51,360

25,060

Annotation: Sure figures may not sum due to rounding

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Source: https://www.dailyhostnews.com/amplitude-announces-fourth-quarter-and-fiscal-year-2021-financial-results

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