Amplitude Q1 2025 slides: revenue up 10%, platform strategy takes center stage

Introduction & Market Context

Amplitude Inc. (NASDAQ:AMPL) presented its Q1 2025 investor slides on May 7, 2025, highlighting the company’s continued growth in a rapidly expanding digital analytics market. The presentation emphasized how digital applications are growing exponentially, with 8.9 million apps worldwide, 1.1 billion websites, and 115 million AI app downloads in 2025.

As shown in the following chart illustrating the scale of digital application growth:

This expansion creates significant opportunities for Amplitude’s analytics platform, which helps companies navigate increasingly complex user journeys across multiple touchpoints. The company’s stock responded positively to the earnings report, rising 1.38% in aftermarket trading to $9.55.

Quarterly Performance Highlights

Amplitude reported solid financial results for Q1 2025, with revenue reaching $80 million, representing a 10% year-over-year increase. Annual Recurring Revenue (ARR) grew to $320 million, up 12% compared to Q1 2024. The company’s customer base continued to expand, with 617 customers contributing more than $100,000 in ARR, an 18% increase year-over-year.

The following slide summarizes Amplitude’s key Q1 2025 metrics:

Notably, Amplitude’s dollar-based net retention rate improved to 101% from 97% in the same quarter last year, indicating better customer retention and expansion. Enterprise customers now account for approximately 65% of the company’s ARR, highlighting Amplitude’s success in targeting larger organizations.

The company’s ARR has shown consistent growth over the past nine quarters, as illustrated in this chart:

Similarly, Amplitude has steadily increased its base of high-value customers:

Strategic Initiatives & Platform Development

CEO Spencer emphasized that "2025 is the year of the platform," underscoring Amplitude’s strategic focus on becoming a comprehensive digital analytics provider. The company’s value proposition centers around three key pillars: democratizing data, unlocking real-time insights, and turning those insights into measurable business impact.

As shown in the following slide detailing Amplitude’s value proposition:

Amplitude is positioning its integrated platform to address the convergence of product and marketing analytics, helping organizations overcome challenges related to customer journey complexity, governance requirements, and inflexible tools. The company has been recognized as a leader in digital analytics, including being named a Leader in Forrester Wave for Feature Management & Experimentation Solution and Best in Product Analytics by G2 in their Spring 2025 Report.

The company’s platform architecture demonstrates how Amplitude integrates various components to provide a comprehensive solution:

Detailed Financial Analysis

Beyond the headline revenue and ARR figures, Amplitude reported a non-GAAP operating loss of $2.1 million for Q1 2025. Free cash flow was negative at $9.2 million, compared to negative $1.1 million in Q1 2024. The company maintains a strong balance sheet with $284 million in cash and investments.

Amplitude’s remaining performance obligations (RPO) grew 30% year-over-year, with current RPO at $234 million and long-term RPO at $92 million, indicating healthy future revenue visibility:

The company’s margin progression shows improvement in operating margin, though free cash flow margin declined compared to the previous quarter:

CFO Andrew noted during the earnings call, "We are building a durable enterprise SaaS business," reflecting confidence in Amplitude’s long-term growth strategy despite current investments impacting short-term profitability.

Forward-Looking Statements & Guidance

Amplitude provided optimistic guidance for both Q2 2025 and the full fiscal year. For Q2, the company expects revenue between $80.3 million and $82.3 million, representing 10-12% year-over-year growth. For the full year 2025, Amplitude projects revenue of $329-$333 million, a 10-11% increase from 2024.

The detailed guidance also shows Amplitude expects to achieve non-GAAP operating income between $0 and $5 million for the full year 2025, suggesting a path to profitability:

The company’s financial priorities focus on accelerating net new ARR, platform consolidation, and balancing growth with financial leverage. Key growth drivers include continued platform innovation, new customer acquisition, multi-product adoption expansion, and international expansion.

While Amplitude faces challenges including macroeconomic uncertainties and increasing competition in the analytics space, management remains confident in the company’s strategic direction. The focus on platform consolidation and enterprise expansion positions Amplitude to capitalize on organizations’ desire for integrated analytics solutions that deliver measurable business impact.

Full presentation:

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