Amplitude Announces Fourth Quarter and Fiscal Year 2022 Financial Results

February 15, 2023
  • Fourth quarter revenue of $65.3 million, up 32% year-over-year
  • Fiscal 2022 revenue of $238.1 million, up 42% year-over-year
  • Current Remaining Performance Obligations of $190.6 million, up 39% year-over-year

SAN FRANCISCO--(BUSINESS WIRE)--Feb. 15, 2023-- Amplitude, Inc. (Nasdaq: AMPL), a leading digital analytics platform, today announced financial results for its fourth quarter and fiscal year ended December 31, 2022.

“Amplitude helps companies unlock the power of their products, and we guide them every step of the way,” said Spenser Skates, CEO and co-founder of Amplitude. “We had a strong finish to the year, ending with 480 customers paying more than $100,000 in annual recurring revenue. By raising the bar for execution and investing in our product for the long term, we’ll be well positioned to drive durable growth in a category where the opportunity is just beginning to unfold.”

Fourth Quarter 2022 Financial Highlights:
(in millions, except per share and percentage amounts)

 

Fourth
Quarter
2022

Fourth
Quarter
2021

Y/Y Change

Revenue

$65.3

 

$49.4

 

32%

Remaining Performance Obligations

$248.2

 

$170.1

 

46%

Current Remaining Performance Obligations

$190.6

 

$137.3

 

39%

GAAP Loss from Operations

$(25.8)

 

$(21.5)

 

$(4.3)

Non-GAAP Loss from Operations

$(4.7)

 

$(5.0)

 

$0.3

GAAP Net Loss Per Share

$(0.21)

 

$(0.20)

 

$(0.01)

Non-GAAP Net Loss Per Share

$(0.03)

 

$(0.05)

 

$0.02

Net Cash Used in Operating Activities

$(4.6)

 

$(11.1)

 

$6.5

Free Cash Flow

$(5.9)

 

$(12.2)

 

$6.3

Fiscal Year 2022 Financial Highlights:
(in millions, except per share and percentage amounts)

 

FY 2022

FY 2021

Y/Y Change

Revenue

$238.1

 

$167.3

 

42%

Remaining Performance Obligations

$248.2

 

$170.1

 

46%

Current Remaining Performance Obligations

$190.6

 

$137.3

 

39%

GAAP Loss from Operations

$(96.6)

 

$(74.1)

 

$(22.5)

Non-GAAP Loss from Operations

$(26.2)

 

$(14.6)

 

$(11.6)

GAAP Net Loss Per Share

$(0.84)

 

$(1.46)

 

$0.62

Non-GAAP Net Loss Per Share

$(0.21)

 

$(0.30)

 

$0.09

Net Cash Used in Operating Activities

$(5.4)

 

$(31.7)

 

$26.3

Free Cash Flow

$(11.2)

 

$(34.9)

 

$23.7

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, amortization of acquired intangible assets, and non-recurring costs, such as costs related to the direct listing of our Class A common stock (the “Direct Listing”). Direct Listing costs, which were $18.2 million in the full year 2021, did not recur in the full year of 2022. Stock-based compensation expense and related employer payroll taxes were $20.6 million in the fourth quarter of 2022 compared to $16.0 million in the fourth quarter of 2021, and $68.3 million for the full year 2022 compared to $39.7 million for the full year 2021. This increase was primarily driven by increases in employee headcount. Free cash flow is GAAP net cash used in operating activities, less cash used for purchases of property and equipment and capitalized internal-use software costs. The section titled "Non-GAAP Financial Measures" below contains a description of the non-GAAP financial measures and reconciliations between historical GAAP and non-GAAP information are contained in the tables below.

Fourth Quarter and Recent Business Highlights:

  • Number of paying customers grew 25% year-over-year to 1,994.
  • Dollar-based net retention rate was 119% as of December 31, 2022, compared to 123% as of December 31, 2021.
  • Customers paying more than $100,000 in ARR grew 25% year over year to 480, compared to 385 as of December 31, 2021.
  • Amplitude hired Kristina Johnson as Chief Human Resources Officer.
  • Amplitude was named a Strong Performer and received the third-highest strategy score of all evaluated vendors in The Forrester Wave™: Digital Intelligence Platforms, Q4 2022.
  • Amplitude received 5 awards across G2’s 2023 Best Software Awards. Amplitude also ranked #1 in ten categories within the G2 Winter 2023 Report, including the #1 Product Analytics solution for the tenth quarter in a row.

Financial Outlook:

The first quarter and full year 2023 outlook information provided below is based on Amplitude’s current estimates and is not a guarantee of future performance. These statements are forward-looking and actual results may differ materially. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause Amplitude’s actual results to differ materially from these forward-looking statements.

For the first quarter and full year 2023, the Company expects:

 

First Quarter 2023

Full Year 2023

Revenue

$64 - $66 million

$283 - $291 million

Non-GAAP Operating Margin

(13%) - (14%)

(6%) - (8%)

Non-GAAP Net Loss Per Share

$(0.06) - $(0.08)

$(0.11) - $(0.16)

Weighted Average Shares Outstanding

114.9 million

117.5 million

An outlook for GAAP loss from operations, GAAP operating margin, GAAP net loss per share and a reconciliation of expected non-GAAP loss from operations to GAAP loss from operations, expected non-GAAP operating margin to GAAP operating margin, and expected non-GAAP net loss per share to GAAP net loss per share have not 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 compensation expense requires additional inputs such as the number and value of awards granted that are not currently ascertainable, and the non-GAAP adjustment for amortization of acquired intangible assets depends on the timing and value of intangible assets acquired that cannot be accurately forecasted.

CFO Transition

Amplitude also announced today that after four incredible years, Chief Financial Officer Hoang Vuong will be leaving the company. Amplitude has appointed former Forescout executive Christopher (“Criss”) Harms as the company’s next Chief Financial Officer. Hoang will remain at Amplitude in the interim to ensure a smooth and seamless transition.

Conference Call Information:

Amplitude will host a live video webcast to discuss its financial results for the fourth quarter and fiscal year ended December 31, 2022, as well as the financial outlook for its first quarter and full year 2023 today at 2:00 PM Pacific Time / 5:00 PM Eastern Time. Interested parties may access the webcast, earnings press release, and investor presentation on the events section of Amplitude’s investor relations website at investors.amplitude.com. A replay will be available in the same location a few hours after the conclusion of the live webcast.

Forward-Looking Statements:

This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s financial outlook for the first quarter and full year 2023, the Company’s growth strategy and business aspirations and its market position and market opportunity. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would,” and “outlook,” or the negative version of those words or phrases or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not statements of historical fact, and are based on current expectations, estimates, and projections about the Company’s industry as well as certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the Company’s control. These statements are subject to numerous uncertainties and risks that could cause actual results, performance, or achievement to differ materially and adversely from those anticipated or implied in the statements, including risks related to: the Company’s limited operating history and rapid growth over the last several years, which makes it difficult to forecast the Company’s future results of operations; the Company’s history of losses; any decline in the Company’s customer retention or expansion of its commercial relationships with existing customers or an inability to attract new customers; expected fluctuations in the Company’s financial results, making it difficult to project future results; the Company’s focus on sales to larger organizations and potentially increased dependency on those relationships, which may increase the variability of the Company’s sales cycles and results of operations; downturns or upturns in new sales, which may not be immediately reflected in the Company’s results of operations and may be difficult to discern; unfavorable conditions in the Company’s industry or the global economy, or reductions in information technology spending, which could limit the Company’s ability to grow its business; the market for SaaS applications, which may develop more slowly than the Company expects or decline; the Company’s intellectual property rights, which may not protect its business or provide the Company with a competitive advantage; and evolving privacy and other data-related laws. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are or will be included under the caption "Risk Factors" and elsewhere in the reports and other documents that the Company files with the Securities and Exchange Commission from time to time, including the Company’s Annual Report on Form 10-K being filed at or around the date hereof. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Non-GAAP Financial Measures:

This press release includes financial information that has not been prepared in accordance with GAAP. The Company uses non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating the Company’s ongoing operational performance. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial results with other companies in the industry, many of which present similar non-GAAP financial measures to investors. There are a number of limitations related to the use of non-GAAP financial measures versus comparable financial measures determined under GAAP. For example, other companies in the Company’s industry may calculate these non-GAAP financial measures differently or may use other measures to evaluate their performance. In addition, free cash flow does not reflect the Company’s future contractual commitments and the total increase or decrease of its cash balance for a given period.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. A reconciliation of the Company’s non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures below.

Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP Operating Expenses, Non-GAAP Loss from Operations, Non-GAAP Operating Margin, Non-GAAP Net Loss, and Non-GAAP Net Loss per Share.

The Company defines these non-GAAP financial measures as their respective GAAP measures, excluding expenses related to stock-based compensation expense and related employer payroll taxes, amortization of acquired intangible assets, and non-recurring costs, such as costs related to the Direct Listing. The Company excludes stock-based compensation expense and related employer payroll taxes, which is a non-cash expense, from certain of its non-GAAP financial measures because it believes that excluding this item provides meaningful supplemental information regarding operational performance. The Company excludes amortization of intangible assets, which is a non-cash expense, related to business combinations from certain of its non-GAAP financial measures because such expenses are related to business combinations and have no direct correlation to the operation of the Company’s business. Although the Company excludes these expenses from certain non-GAAP financial measures, the revenue from acquired companies subsequent to the date of acquisition is reflected in these measures and the acquired intangible assets contribute to the Company’s revenue generation. The Company excludes non-recurring costs from certain of its non-GAAP financial measures because such expenses do not repeat period over period and are not reflective of the ongoing operation of the Company’s business.

The Company uses non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP loss from operations, non-GAAP operating margin, non-GAAP net loss, and non-GAAP net loss per share in conjunction with its traditional GAAP measures to evaluate the Company’s financial performance. The Company believes that these measures provide its management, board of directors, and investors consistency and comparability with its past financial performance and facilitates period-to-period comparisons of operations.

Free Cash Flow and Free Cash Flow Margin. The Company defines free cash flow as net cash used in operating activities, less cash used for purchases of property and equipment and capitalized internal-use software costs. Free cash flow margin is calculated as free cash flow divided by total revenue. The Company believes that free cash flow and free cash flow margin are useful indicators of liquidity that provides its management, board of directors, and investors with information about its future ability to generate or use cash to enhance the strength of its balance sheet and further invest in its business and pursue potential strategic initiatives.

Definitions of Business Metrics:

Dollar-based net retention rate

The Company calculates dollar-based net retention rate as of a period end by starting with the Annual Recurring Revenue (“ARR”) from the cohort of all customers as of 12 months prior to such period-end (the “Prior Period ARR”). The Company then calculates the ARR from these same customers as of the current period-end (the “Current Period ARR”). Current Period ARR includes any expansion and is net of contraction or attrition over the last 12 months, but excludes ARR from new customers as well as any overage charges in the current period. The Company then divides the total Current Period ARR by the total Prior Period ARR to arrive at the point-in-time dollar-based net retention rate. The Company then calculates the weighted-average of the trailing 12-month point-in-time dollar-based net retention rates, to arrive at the dollar-based net retention rate.

The Company defines ARR as the annual recurring revenue of subscription agreements, including certain premium professional services that are subject to contractual subscription terms, at a point in time based on the terms of customers’ contracts. ARR should be viewed independently of revenue, and does not represent the Company’s GAAP revenue on an annualized basis, as it is an operating metric that can be impacted by contract start and end dates and renewal rates. ARR is not intended to be a replacement for or forecast of revenue.

About Amplitude

Amplitude is a leading digital analytics platform that helps companies unlock the power of their products. Almost 2,000 customers, including Atlassian, Jersey Mike’s, NBCUniversal, Shopify, and Under Armour, rely on Amplitude to gain self-service visibility into the entire customer journey. Amplitude guides companies every step of the way as they capture data they can trust, uncover clear insights about customer behavior, and take faster action. When teams understand how people are using their products, they can deliver better product experiences that drive growth. Amplitude is the best-in-class analytics solution for product, data, and marketing teams, ranked #1 in multiple categories in G2’s 2023 Winter Report. Learn how to optimize your digital products and business at amplitude.com.

AMPLITUDE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
 
December 31, 2022 December 31, 2021
(unaudited)
Assets
Current assets:
Cash and cash equivalents

$

218,494

 

$

307,445

 

Marketable securities, current

 

11,971

 

 

 

Accounts receivable, net

 

22,716

 

 

20,444

 

Prepaid expenses and other current assets

 

20,335

 

 

19,116

 

Deferred commissions, current

 

10,918

 

 

8,112

 

Total current assets

 

284,434

 

 

355,117

 

Marketable securities, noncurrent

 

71,217

 

 

 

Property and equipment, net

 

9,408

 

 

4,832

 

Intangible assets, net

 

2,022

 

 

3,554

 

Goodwill

 

4,073

 

 

4,073

 

Deferred commissions, noncurrent

 

25,799

 

 

20,573

 

Restricted cash, noncurrent

 

855

 

 

850

 

Operating lease right-of-use assets

 

9,593

 

 

 

Other noncurrent assets

 

6,354

 

 

11,389

 

Total assets

$

413,755

 

$

400,388

 

Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable

$

490

 

$

3,363

 

Accrued expenses

 

18,699

 

 

17,936

 

Deferred revenue

 

89,993

 

 

69,294

 

Total current liabilities

 

109,182

 

 

90,593

 

Operating lease liabilities, noncurrent

 

7,093

 

 

 

Noncurrent liabilities

 

2,511

 

 

3,247

 

Total liabilities

 

118,786

 

 

93,840

 

Stockholders’ equity:
Common stock

 

1

 

 

1

 

Additional paid-in capital

 

568,889

 

 

486,354

 

Accumulated other comprehensive loss

 

(754

)

 

 

Accumulated deficit

 

(273,167

)

 

(179,807

)

Total stockholders’ equity

 

294,969

 

 

306,548

 

Total liabilities and stockholders’ equity

$

413,755

 

$

400,388

 

AMPLITUDE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

 
Three Months Ended December 31, Year Ended December 31,

2022

2021

2022

2021

(unaudited) (unaudited) (unaudited)
Revenue

$

65,258

 

$

49,424

 

$

238,067

 

$

167,261

 

Cost of revenue (1)

 

19,243

 

 

15,392

 

 

70,442

 

 

51,764

 

Gross profit

 

46,015

 

 

34,032

 

 

167,625

 

 

115,497

 

Operating expenses:
Research and development (1)

 

22,192

 

 

14,229

 

 

80,589

 

 

48,251

 

Sales and marketing (1)

 

35,169

 

 

27,016

 

 

129,962

 

 

86,025

 

General and administrative (1)

 

14,452

 

 

14,272

 

 

53,636

 

 

55,370

 

Total operating expenses

 

71,813

 

 

55,517

 

 

264,187

 

 

189,646

 

Loss from operations

 

(25,798

)

 

(21,485

)

 

(96,562

)

 

(74,149

)

Other income, net

 

2,160

 

 

52

 

 

3,981

 

 

195

 

Loss before provision for (benefit from) income taxes

 

(23,638

)

 

(21,433

)

 

(92,581

)

 

(73,954

)

Provision for (benefit from) income taxes

 

407

 

 

469

 

 

796

 

 

1,029

 

Net loss

$

(24,045

)

$

(21,902

)

$

(93,377

)

$

(74,983

)

Net loss per share
Basic and diluted

$

(0.21

)

$

(0.20

)

$

(0.84

)

$

(1.46

)

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

 

113,104

 

 

107,925

 

 

111,437

 

 

51,360

 

 
(1) Amounts include stock-based compensation expense as follows:
Three Months Ended December 31, Year Ended December 31,

2022

2021

2022

2021

 
Cost of revenue

$

2,083

 

$

1,042

 

$

6,468

 

$

1,951

 

Research and development

 

8,702

 

 

4,159

 

 

27,855

 

 

13,613

 

Sales and marketing

 

5,669

 

 

3,870

 

 

17,143

 

 

7,871

 

General and administrative

 

3,938

 

 

5,186

 

 

15,757

 

 

10,959

 

Total stock-based compensation expense

$

20,392

 

$

14,257

 

$

67,223

 

$

34,394

 

AMPLITUDE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

 

Three Months Ended December 31,

 

Year Ended December 31,

 

2022

 

 

 

2021

 

 

 

2022

 

 

 

2021

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

 

Cash flows from operating activities:
Net loss

$

(24,045

)

$

(21,902

)

$

(93,377

)

$

(74,983

)

Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization

 

1,436

 

 

883

 

 

4,662

 

 

3,093

 

Stock-based compensation expense

 

20,392

 

 

14,257

 

 

67,223

 

 

34,394

 

Other

 

104

 

 

1,139

 

 

42

 

 

1,802

 

Non-cash operating lease costs

 

973

 

 

 

 

3,731

 

 

 

Changes in operating assets and liabilities:
Accounts receivable

 

8,463

 

 

2,356

 

 

(2,427

)

 

(3,033

)

Prepaid expenses and other current assets

 

(221

)

 

(291

)

 

(1,014

)

 

(12,222

)

Deferred commissions

 

(444

)

 

(2,574

)

 

(8,032

)

 

(9,245

)

Other noncurrent assets

 

1,400

 

 

(965

)

 

5,036

 

 

(4,491

)

Accounts payable

 

(1,711

)

 

146

 

 

(2,884

)

 

(1,054

)

Accrued expenses

 

(4,349

)

 

(1,990

)

 

4,574

 

 

5,556

 

Deferred revenue

 

(5,468

)

 

(2,163

)

 

20,698

 

 

28,470

 

Operating lease liabilities

 

(1,128

)

 

 

 

(3,616

)

 

 

Net cash used in operating activities

 

(4,598

)

 

(11,104

)

 

(5,384

)

 

(31,713

)

Cash flows from investing activities:
Purchase of marketable securities

 

(23,478

)

 

 

 

(83,190

)

 

 

Purchase of property and equipment

 

(620

)

 

(572

)

 

(3,632

)

 

(1,529

)

Capitalization of internal-use software costs

 

(654

)

 

(568

)

 

(2,177

)

 

(1,693

)

Cash paid for acquisitions, net of cash acquired

 

 

 

 

 

(394

)

 

1,724

 

Net cash used in investing activities

 

(24,752

)

 

(1,140

)

 

(89,393

)

 

(1,498

)

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

 

 

 

 

 

 

 

199,802

 

Proceeds from the exercise of stock options

 

701

 

 

5,149

 

 

6,910

 

 

21,783

 

Cash received for tax withholding obligations on equity award settlements

 

3,966

 

 

38,562

 

 

17,992

 

 

145,481

 

Cash paid for tax withholding obligations on equity award settlements

 

(4,068

)

 

(42,864

)

 

(19,056

)

 

(144,420

)

Repurchase of unvested stock options

 

 

 

(2

)

 

(15

)

 

(3

)

Net cash provided by financing activities

 

599

 

 

845

 

 

5,831

 

 

222,643

 

Net increase in cash, cash equivalents, and restricted cash

 

(28,751

)

 

(11,399

)

 

(88,946

)

 

189,432

 

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

 

248,100

 

 

319,694

 

 

308,295

 

 

118,863

 

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

$

219,349

 

$

308,295

 

$

219,349

 

$

308,295

 

AMPLITUDE, INC.

Reconciliation of GAAP to Non-GAAP Data

(In thousands, except percentages and per share amounts)

(unaudited)

 
Three Months Ended December 31, Year Ended December 31,

2022

2021

2022

2021

Reconciliation of gross profit and gross margin
GAAP gross profit

$

46,015

 

$

34,032

 

$

167,625

 

$

115,497

 

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

 

2,084

 

 

1,043

 

 

6,468

 

 

1,952

 

Plus: amortization of acquired intangible assets

 

500

 

 

500

 

 

2,017

 

 

1,651

 

Non-GAAP gross profit

$

48,599

 

$

35,575

 

$

176,110

 

$

119,100

 

GAAP gross margin

 

70.5

%

 

68.9

%

 

70.4

%

 

69.1

%

Non-GAAP adjustments

 

4.0

%

 

3.1

%

 

3.6

%

 

2.2

%

Non-GAAP gross margin

 

74.5

%

 

72.0

%

 

74.0

%

 

71.2

%

Reconciliation of operating expenses
GAAP research and development

$

22,192

 

$

14,229

 

$

80,589

 

$

48,251

 

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

 

(8,815

)

 

(4,446

)

 

(28,476

)

 

(16,469

)

Less: amortization of acquired intangible assets

 

 

 

 

 

 

 

 

Non-GAAP research and development

$

13,377

 

$

9,783

 

$

52,113

 

$

31,782

 

GAAP research and development as percentage of revenue

 

34.0

%

 

28.8

%

 

33.9

%

 

28.8

%

Non-GAAP research and development as percentage of revenue

 

20.5

%

 

19.8

%

 

21.9

%

 

19.0

%

GAAP sales and marketing

$

35,169

 

$

27,016

 

$

129,962

 

$

86,025

 

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

 

(5,760

)

 

(5,149

)

 

(17,386

)

 

(9,693

)

Less: direct listing expenses

 

 

 

 

 

 

 

(13

)

Non-GAAP sales and marketing

$

29,409

 

$

21,867

 

$

112,576

 

$

76,319

 

GAAP sales and marketing as percentage of revenue

 

53.9

%

 

54.7

%

 

54.6

%

 

51.4

%

Non-GAAP sales and marketing as percentage of revenue

 

45.1

%

 

44.2

%

 

47.3

%

 

45.6

%

GAAP general and administrative

$

14,452

 

$

14,272

 

$

53,636

 

$

55,370

 

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

 

(3,979

)

 

(5,384

)

 

(15,967

)

 

(11,553

)

Less: direct listing expenses

 

 

 

 

 

 

 

(18,178

)

Non-GAAP general and administrative

$

10,473

 

$

8,888

 

$

37,669

 

$

25,639

 

GAAP general and administrative as percentage of revenue

 

22.1

%

 

28.9

%

 

22.5

%

 

33.1

%

Non-GAAP general and administrative as percentage of revenue

 

16.0

%

 

18.0

%

 

15.8

%

 

15.3

%

Reconciliation of operating loss and operating margin
GAAP loss from operations

$

(25,798

)

$

(21,485

)

$

(96,562

)

$

(74,149

)

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

 

20,638

 

 

16,022

 

 

68,297

 

 

39,667

 

Plus: amortization of acquired intangible assets

 

500

 

 

500

 

 

2,017

 

 

1,651

 

Plus: direct listing expenses

 

 

 

 

 

 

 

18,191

 

Non-GAAP loss from operations

$

(4,660

)

$

(4,963

)

$

(26,248

)

$

(14,640

)

GAAP operating margin

 

(39.5

%)

 

(43.5

%)

 

(40.6

%)

 

(44.3

%)

Non-GAAP adjustments

 

32.4

%

 

33.4

%

 

29.5

%

 

35.6

%

Non-GAAP operating margin

 

(7.1

%)

 

(10.0

%)

 

(11.0

%)

 

(8.8

%)

Reconciliation of net loss
GAAP net loss

$

(24,045

)

$

(21,902

)

$

(93,377

)

$

(74,983

)

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

 

20,638

 

 

16,022

 

 

68,297

 

 

39,667

 

Plus: amortization of acquired intangible assets

 

500

 

 

500

 

 

2,017

 

 

1,651

 

Plus: direct listing expenses

 

 

 

 

 

 

 

18,191

 

Non-GAAP net loss

$

(2,907

)

$

(5,380

)

$

(23,063

)

$

(15,474

)

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

$

(0.21

)

$

(0.20

)

$

(0.84

)

$

(1.46

)

Non-GAAP adjustments to net loss

 

0.19

 

 

0.15

 

 

0.63

 

 

1.16

 

Non-GAAP net loss per share, basic and diluted

$

(0.03

)

$

(0.05

)

$

(0.21

)

$

(0.30

)

Weighted-average shares used in GAAP and non-GAAP per share calculation, basic and diluted

 

113,104

 

 

107,925

 

 

111,437

 

 

51,360

 

Note: Certain figures may not sum due to rounding

AMPLITUDE, INC.

Reconciliation of GAAP Cash Flows from Operations to Free Cash Flows

(In thousands, except for percentages)

(unaudited)

 
Three Months Ended December 31, Year Ended December 31,

2022

2021

2022

2021

Net cash used in operating activities

$

(4,598

)

$

(11,104

)

$

(5,384

)

$

(31,713

)

Less:
Purchases of property and equipment

 

(620

)

 

(572

)

 

(3,632

)

 

(1,529

)

Capitalization of internal-use software costs

 

(654

)

 

(568

)

 

(2,177

)

 

(1,693

)

Free cash flow

$

(5,872

)

$

(12,244

)

$

(11,193

)

$

(34,935

)

Net cash used in operating activities margin

 

(7.0

%)

 

(22.5

%)

 

(2.3

%)

 

(19.0

%)

Non-GAAP adjustments

 

(2.0

%)

 

(2.3

%)

 

(2.4

%)

 

(1.9

%)

Free cash flow margin

 

(9.0

%)

 

(24.8

%)

 

(4.7

%)

 

(20.9

%)

Note: Certain figures may not sum due to rounding

 

Investor Relations
Yaoxian Chew
ir@amplitude.com

Communications
Darah Easton
press@amplitude.com

Source: Amplitude, Inc.

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