Amplitude at Citi’s 2025 Global TMT Conference: AI and Growth Strategy

On Thursday, 04 September 2025, Amplitude (NASDAQ:AMPL) presented at Citi’s 2025 Global TMT Conference, outlining its strategic initiatives and financial performance. CFO Andrew Casey highlighted the company’s evolution from a digital engagement tool to a comprehensive platform integrating AI and analytics. While the company is optimistic about growth, it faces challenges in customer retention and operational costs.

Key Takeaways

• Amplitude is expanding its customer base to include traditional enterprises beyond digital natives.
• The company is leveraging AI to enhance platform usage and productivity.
• Financial strategies focus on margin improvement and reducing churn through multi-year contracts.
• M&A efforts target small, strategic acquisitions to enhance the product roadmap.
• Amplitude aims to educate investors on its broader platform capabilities beyond front-office SaaS.

Financial Results

• ARR Base: 67% of ARR comes from multi-product users, though only 34% of customers use multiple products, indicating significant upsell potential.
• RPO Growth: Total RPO increased by 31% last quarter, with long-term RPO growing 63%.
• Renewal Rate: The renewal base decreased from 89% to 72% of the install base, with a target of 60% by year-end.
• Sales and Marketing: Plans to reduce sales and marketing expenses from 44% to the mid-30s percentage of revenue.

Operational Updates

• Customer Base: 30% of customers are digital natives, with increasing adoption from sectors like retail, healthcare, and finance.
• AI Integration: AI agents are being implemented to optimize platform use and conduct experiments.
• Go-to-Market Strategy: Transitioned sales compensation from gross to net ARR to align with customer retention and introduced multi-year contracts.
• M&A Activity: Acquired Command AI for Guides and Surveys; teams from Inari and Craftful have been integrated.

Future Outlook

• Growth Strategy: Focus on growing revenues faster than expenses, with operational leverage expected to yield positive operating income.
• M&A Strategy: Continued focus on acquiring technology and teams to enhance the existing roadmap.
• Pipeline: Improved pipeline coverage with positive enterprise client engagement.
• AI and Cross-sell: AI optimizations and cross-selling are expected to drive future growth, with a focus on data ingestion.

Q&A Highlights

• Customer Acquisition: Engaging more with Chief Marketing Officers and Chief Revenue Officers, alongside Chief Product and Digital Officers.
• ROI Discussion: Demonstrated cost savings for customers through platform consolidation and workflow optimization.

Amplitude’s strategic focus on AI, customer expansion, and financial discipline positions it for future growth. For more details, refer to the full transcript below.

Full transcript - Citi’s 2025 Global TMT Conference:

Tyler Radke, Analyst: Good afternoon, everyone. Tyler Radke here. Thanks for sticking with us for the software track. It’s been a busy day. We’re excited to close out the day with Amplitude CFO, Andrew Casey. Andrew, thank you for joining the tech conference. Nice to see you again.

Andrew Casey, CFO, Amplitude: Good to see you as well.

Tyler Radke, Analyst: For folks less familiar with Amplitude, how about you just give a quick overview of the business?

Andrew Casey, CFO, Amplitude: Sure. Amplitude got its start by trying to solve the problem that every customer who was trying to digitally engage with their clients, whether that be through a mobile application, a website, or a classic desktop application, was trying to figure out how they improve that application, how they improve that level of service. They were typically using screen captures or sessions to try to understand that interaction. Amplitude came along with a product that thought we could do better at a very detailed level. We call events. Those events are, think of it in terms of how you’re scrolling across things, how you’re engaging with it, how much time you spend on content. That led to an application that gives that feedback to developers and product creators to constantly improve their product.

People ask me all the time, like, once the fill-in-your-blank application has used you, what are they going to use you for next? I say, they’re constantly changing in how they’re trying to better provide those services to their clients, better provide more curated personalization. Amplitude is used constantly by application developers to try and improve that product or improve that level of service. We’ve got everything from classic digital natives like a DoorDash to B2C companies to a company we even announced last quarter, First American Title, who deals with titling in mortgage processes. They’re instrumenting and modernizing how that process works. Amplitude started with this unique position of trying to create better products, better services. As the space evolved, there were all these other areas that popped up, different capabilities around Experimentation and Session Replay, Guides and Surveys. They were all connected back into an Analytics core.

The postulate for us about three years ago was, why don’t we start incorporating some of these capabilities in more of a platform approach? Over the last couple of years, I’d say the innovation pace is when we’ve created more and more capabilities in the platform and started to ingest that into a better together story for our clients. Now today, Amplitude is not just core Analytics. It’s much more than that. It’s reaching out to more personas, like in marketing analytics and customer analytics. We certainly view that there’s an increasing effort by enterprise clients to bring together various data silos so they can get a better picture of how they’re best serving their client.

Tyler Radke, Analyst: Right. Got it. I think the original product Analytics story was more about, at least from an ROI perspective, doing things more efficiently versus an in-house or homegrown solution. Is it now more kind of a consolidation play in terms of knocking off a bunch of these other features that you might have to buy separately?

Andrew Casey, CFO, Amplitude: I still think there’s a group of, call it the Fortune 500 or the Global 2000, that are moving for the first time to digitally engage with their clients. I’d say that First American Title is a great example of that. We see those all the time. They’re moving from paper-based systems and trying to engage digitally. The story there is we’re talking about the value proposition of instrumenting that engagement for the first time. I acknowledge that as we’ve added more capabilities, a very typical conversation—I had one yesterday with a client in our New York office—was about how they could bring together the different groups, the different silos and efforts through one integrated platform such that web analytics and the mobile analytics and their data silos could all be brought together. They could break down some of the workflows in a more efficient way.

The opportunity for us is replacing a Session Replay vendor, replacing a web analytics vendor, and establishing a core taxonomy across all those environments for them to be more efficient.

Tyler Radke, Analyst: Got it. OK. You know the customer base has grown quite a bit since before your time, but the time a few years ago when the company went public. How does that look like just in terms of the types of customers? Is it still primarily digital native? You talked about the North American Title Company. Obviously, that’s a more traditional enterprise bias. Where does that kind of composition look today?

Andrew Casey, CFO, Amplitude: I think it’s a big misnomer. We talked about that if you look at it from a classic NIC code basis on our customer base, it’s pretty broad. We still have about 30%+ that is, I would call, software digital native. There are some classic customers in that space. Some of the largest software companies in the world use Amplitude as their core instrumentation. Increasingly, we’re seeing more non-traditional or classic enterprises that are trying to figure out how they reach out to customers in a more effective way. We talked about the retail environment is increasingly expanding with companies like Walmart and others that are digitally engaging. This last quarter we had this big real estate conference. A number of customers had come forward, like Irvine Company. Real estate, health care, telecommunications and media, publishing. We talked about The Economist Group on our last call.

They’re moving from print to a digital subscription business. It’s really quite broad-based. Financial services, media, telecom, the software business is certainly the biggest areas. Increasingly, we’re seeing more and more.

Tyler Radke, Analyst: Yeah, I’d be remiss not to talk about AI.

Andrew Casey, CFO, Amplitude: How long did it take us?

Tyler Radke, Analyst: Only seven minutes. High level, there’s obviously a lot of different ways we can go with that. High level, how do you think about the way apps and product development is changing and how kind of Amplitude can be tethered to kind of those changes?

Andrew Casey, CFO, Amplitude: Yeah. I think the first thing when we look at AI is simply another piece of software. Frankly, some of the best implementations of AI have been around developer productivity tools. For those of us who’ve been in the industry a long time, there’s been just a continuous trend around how do you drive software creations more effectively. You think about in terms of moving from instruction set architectures to middleware, from middleware into using open source and open source libraries. This is just the next implementation of it. The reality is more software is good for us. More software means more need for instrumentation and understanding how that software is interacting with users. There is a large group of AI companies that are using Amplitude as their core instrumentation. Some of the larger ones, too, that we didn’t necessarily talk about.

The reality is we think that this is actually a buoy for us, that we’re going to see more and more usage of Amplitude in non-traditional cases because of the adoption of AI. One of the things we are implementing is agenda capabilities within our platform, and its core focus is going to be about driving optimizations and better utilizing Amplitude. Where before customers may have had five data scientists, a business analyst, and IT working on an experimentation platform, we think you can create an agent that can do double, triple, quadruple the amount of work that that team used to do. Increasing their level of productivity, even if you’re not getting rid of them, you can increase the level of productivity associated.

An agent can run thousands and thousands of experiments and give you recommendations based upon the insights that’s driving from those, and take action if you want them to.

Tyler Radke, Analyst: Right. Got it. On that digital native customer base, I know there’s been some that talked about the Cursors of the world. There are various other companies out there that have sort of sized AI-native businesses. Is that a significant end market or customer for you, like more than 1%? Or is it still pretty low in terms of revenue today?

Andrew Casey, CFO, Amplitude: I would say in the context of all the rest of the customers, it’s still relatively low. I would say we’ve had some really good positive trends on the size of those contracts. They started off small. John and I were talking earlier with investors that there isn’t a week that goes by that we don’t see a win-winner with some company that’s related to AI technologies. You don’t really know them. At some point, they may become very, very large.

Tyler Radke, Analyst: Right. Right. You alluded to kind of the future of product development as you have agents both on the coding agents. Many of those are your customers, the cursors of the world. You have your own agents in terms of driving those recommendations. How do you see that evolution long term? Do you think this is something that eventually gets embedded by some of these coding agents? I think recently this week, OpenAI made an acquisition in the space. I know Datadog has made some acquisitions around the product analytics space, obviously validating maybe the health of the market. How do you kind of see that playing out long term?

Andrew Casey, CFO, Amplitude: First, I would say it’s good validation of the importance of Experimentation for any software developer. I think that the notion that you don’t need that capability means that you’re ignoring some of the feedback that comes back from how users are interacting. Experimentation is a big field for us. It’s certainly one of our biggest areas of investment and that has been growing rapidly. I don’t deny that there will be some cases where software companies will decide they want to do it themselves. I would say that some of the largest software companies in the world have chosen not to specify that. They’ve chosen to use Amplitude for that because they want to spend their time on developing the application and using the tools to actually enhance their capabilities on that development process. There’s always that push and pull.

I think for us, it’s constantly driving value for our clients such that they don’t look at it as a cost that they could do better internally, that we can always provide greater value to them. The more that we expand beyond just product Analytics into more capabilities and drive workflows and drive better relevance to a broader set of use cases and users, I think that really establishes a broader value proposition for us. As we move into more marketing Analytics use cases, core customer Analytics use cases, to workflow optimization, I think that that enables us to increasingly drive value.

Tyler Radke, Analyst: Got it. One of the big focuses for the company, even before you got there, was sort of managing down the churn, which kind of became elevated. I know you and I have talked. There were some pretty unusual contract terms for some of these customers that had maybe some unusual terms around down sales built in. Just as you think about that composition of ARR, like between kind of event volumes, and now you’re in a lot of different markets, how diversified is that in terms of multi-product or any way to kind of cut the data just to help us understand the platform or multi-product nature of the business?

Andrew Casey, CFO, Amplitude: Yeah. I’d say you remember, too, that some of the products are not and haven’t been in market that long. They each have their own maturity curve and adoption curve. The ones that we’ve introduced that have been in the market longest, like Experimentation, Activation, web analytics, then we went into Session Replay, then Guides and Surveys, and recently Voice of the Customer, all those are increasingly driving greater and greater adoption within the platform. The metrics we share with investors are now of our ARR base, 67% are multi-product. They’re beyond just product analytics. Most of that is customers who have two products, not like five or six. That should tell you that there’s great opportunity for us to continue to drive cross-sell just into our install base. In fact, during our investor day, we sized that back in Q1.

That was a $160 million opportunity just with the existing install base, not to mention what we would do with new customers. It’s also true that of the number of customers we have, only 34% of them are considered multi-product. There’s still a large portion of our customer number that is on product analytics. If you think about it, wait a minute, 67% of your ARR, but there are only 34% of the customers, that should tell you that the average ARR for customers who are multi-product is much, much larger. Many of the customers who have adopted the full platform, five products, are multimillion dollar implementations. The ability for us to drive value is there. Customers recognize it. Like I said, the customer I was speaking with yesterday had a multimillion dollar investment into this space across six different vendors.

We can confidently go in and say, we can replace that all. Not only can we give you better value for your dollar spent, we can show you how you can optimize the operations within your business and ingest more data so that you’re getting more and more relevance as how you derive customer sentiment increasingly expands beyond just the digital footprints in which they’re interacting.

Tyler Radke, Analyst: Right. Right. Obviously, getting into larger contracts, part of that is products, having more products to sell. Go to market, I know there’s been a lot of improvements there, just kind of maturing the sales force and bringing in some new leadership. Maybe just talk to us how that’s going. What are some of the things you’re doing from the go-to-market perspective to drive those larger deals?

Andrew Casey, CFO, Amplitude: I’d say when I first arrived, we certainly had the aspiration to go focus on more enterprise. There were a lot of practices and procedures, as you noted, that were resulting in poor contract structures and that we really didn’t have the incentive aligned or the processes aligned. Some of the first things we did was just, as you suggest, bringing in more enterprise sellers who know how to do value-based selling as opposed to transactional selling. I know that’s a simplified thing, but it really is a lot of nuance about understanding from the customer’s perspective how you’re going to drive that outcome and driving constructs and the processes that follow from that, how you orient your opportunity funnel, how you drive your demand creation at the top of the funnel, how you’re incenting your sales reps.

One of the first things we did is we moved from a gross ARR quota basis to a net ARR quota basis. I love to tell people, show me a company that compensates their sales reps on gross ARR, and I’ll show you one that has a churn problem. We certainly had that issue, and switching to that basis drove accountability all the way down to the sales rep about being the primary interface for all commercial transactions associated with a customer in your territory. That was a big change. The other change was, as you were suggesting, teaching them how to sell the platform effectively.

A lot of our sellers got very used to selling only product analytics, not selling all the different aspects of the platform itself, and being able to go and have conversations about why we’re better than Full Story, why we’re better than Optimizely, how we can show the benefit in a use case that is based upon the customer’s workflow, not just our technology capabilities. That was a big change we did at the beginning of the year. The other thing that we did that I think was really going to be positive in helping us to reduce churn longer term is incenting customers, the sellers to actually drive multi-year contracts for their customers. In many cases, customers who are adopting the platform, this dovetails well with the platform selling. Many times, they’re not thinking of a big bang. I’m going to replace all five products all at once.

They have a vision of how they’re going to replace those implementations with Amplitude over a period of time, and they’ll want to have predictability on what the costs are going to be associated with that. They are more willing to engage in a multi-year contract discussion than maybe somebody who’s just single product. That’s the first thing. Teaching our sales reps how to actually do those constructs such that the customer has the perception that they’re getting value in advance of what they’re actually paying for is the art of it. When you get that right, you start to see that customers are leaning in. They’re willing to think more longer-term contracts. That’s now showing up in our RPO growth. Our RPO growth grew 31% last quarter. Our long-term RPO grew 63% last quarter.

That’s continuing to give us better and better visibility into our revenue stream that’s going to happen over the next year and beyond. It gives us greater predictability. Here’s the thing that people don’t understand with respect to churn. When I first joined Amplitude, we had to renew 89% of our install base. 89%. That’s a lot. Yeah. That’s a lot of sales time annually. That’s a lot of sales time spent on just the renewal process. Through our efforts in the second half of 2024, we came into 2025 with having to renew 72% for our install base. If we execute well the remainder of this year, that should drop closer to 60%. Think about that. Our ARR has increased during this period, and yet I’ve reduced the amount I actually have to renew.

If I reduce the amount I actually have to renew, even if I had gross retention rates at the same rate, which it’s not, it’s been improving, but even if I had the same rate, the actual dollars in churn should go down. Sales productivity should go up because they have more time to spend on new business and on expansions with existing clients. Structurally, there’s no way you can say that that’s going to be the panacea for driving churn down. You have to deliver value. Structurally, if you’re running your SaaS business the right way in an enterprise sense, you’re building the capabilities to see improvements by new needs.

Tyler Radke, Analyst: You’re not having to give up crazy discounting to get those multi-year. It’s just kind of standard three-year terms.

Andrew Casey, CFO, Amplitude: Enterprise customers value cost predictability over this notion of being fearful of paying for something they’re not using. That gets back to the construct.

Tyler Radke, Analyst: Right. As the product portfolio has evolved and maybe with the rise of AI, how would you sort of articulate what budgets and lines of businesses you’re tapping into? I think in the go-go days of 2021, it was anything developer related, just throw money at it. Is this coming out of an AI budget? Is it still kind of being scrutinized with the same scrutiny as you saw during the wave of cloud optimizations? I’d just be curious how that funding dynamic and sales cycle has evolved.

Andrew Casey, CFO, Amplitude: I’d still say we have a predominance of appealing to Chief Product Officers, Chief Digital Officers. I’d still say that we’re very well known for our product analytics capabilities, and there’s plenty of opportunities that come up through that. Our sales team is instructed to make sure they broaden and make sure that customers understand all the value they could get out on the investment in Amplitude. There’s still that. Increasingly, though, we’re seeing more and more Chief Marketing Officers, Chief Revenue Officers. I will tell you, the customer I was talking to before, we had all of them. We had 17 people on a call all looking at Amplitude, and they were looking from their various angles.

Somebody was responsible for the mobile application, somebody was responsible for the web application, somebody was responsible for the data taxonomy, and they were all trying to figure out how they could allocate portions of their budget so they could use one consolidated tool. Ultimately, at the end of that meeting, they asked me if I would go talk to their CFO because they’ve got a great business value proposition. They said, help me look at it and rationalize it to your peer in my company because this is going to be a large investment for us. I still think that to your question, is there still scrutiny? Yes. Do I think that our value proposition has gotten better and that’s easier to go through? Yes. There’s still the work that needs to be done.

Tyler Radke, Analyst: Right. I think the ROI was always a bit of a question that I think investors had on Amplitude. Obviously, with the expansion of the product portfolio, I think that’s helped. In that use case, just walk us through that conversation you had with the CFO. What was the ROI? How was it measured? I assume that was a customer success story. I’m sure you did convince the CFO.

Andrew Casey, CFO, Amplitude: The first part was we walked in there with them having spent a lot, let’s say, multimillion dollars on the various applications they had. What we were quoting was certainly below that. We already were showing, hey, we can save you money simply on the consolidation efforts. The thing that, frankly, the CFO was quite savvy and asked me, how can you show me that you’re really confident on driving this? I said, we already have through the proof of concept. We’ve shown how we optimize your workflows. We’ve organized this such that as you’re rolling out these new applications, the amount that you’re effectively paying for is increasing as you adopt. If you move faster than that, then you get value in advance of what you’re actually paying for.

We no longer have a platform approach as one where you enable the customer to actually get access to the capabilities very easily in their journey. A point product approach is, no, I’m going to gate that. I’m going to make sure that I’m nickel and diming you every time you move into every application. That switch was one that I think the CFO got confidence that, one, we would save them on licensing. Two, we could show workflow optimization based on the results we did with their own data and their own use cases.

Tyler Radke, Analyst: Right. Got it. OK. I guess as you just think about margins, we’ve talked a lot about growth. I know Topline has had this acceleration trend into the back end of the year. How do you think about kind of that long-term framework, rule of 40, et cetera?

Andrew Casey, CFO, Amplitude: It’s funny. When we rolled out in March, an investor, we talked about how we’re going to have a growth with leverage focus. We’re going to increasingly drive optimizations on how we operate from a sales and marketing perspective, G&A perspective. We’re certainly going to drive greater optimizations of how our products and services run within our hosting provider’s environments. I actually did this at our leadership meeting recently as well, reminding all of our executives about how the budget’s going to be rolled out over not just this year, but the years that follow. I’m expecting that we’re going to grow our revenues faster than our expenses, which shows greater leverage across each of those major environments. They will have their own targets to hit those levels. The interesting thing is most people looked at it like, oh my god, you’re going to cut our budgets?

I said, no, no, no, you’re not understanding. We have a plan to grow revenue. We’re going to have a plan to grow expenses slower, which means that we’re going to show operational leverage. We’re going to show positive operating income over the next few years. That’s the way I’m setting up our budgets for even the next year.

Tyler Radke, Analyst: Right. Right.

Andrew Casey, CFO, Amplitude: Now, how does that get instrumented? There are actions. From an engineering perspective, it’s how do we get the marginal incremental cost of data to go down? How do we get our professional services business to be not a drag on gross margins as much as it is? How do we make sure that our sales team is getting more and more efficient such that the sales and marketing as a percentage of revenue goes down from its 44% down into the mid-30s over time? How do we get G&A to be lower and lower? To be clear, we’ve made improvements there. We’ve seen improvements as a percentage of revenue, and we’ll continue to do that.

Tyler Radke, Analyst: Right. Right. On the M&A front, I know part of the margin guide for this year contemplates the recent acquisition. How are you thinking about M&A going forward, just the types of technologies and businesses that you’re interested in?

Andrew Casey, CFO, Amplitude: When we approach acquisitions, they usually come from a roadmap discussion where we’ve got a capability that we want. We determine, is it best to build this organically? Or is there an inorganic opportunity for us to fill that gap quickly? Typically, I would say software businesses acquire others for three reasons. They want to acquire customers, they want to acquire technology, or they want to acquire teams. I think if you can get the last two, it usually works out really well. There’s cultural mix and vision mix, and all those are positive. We’ve looked at larger potential, what people call transformative acquisitions. The reality is most of the time, those don’t work out so well. You rarely get the value you’re really expecting, because if customers wanted to be acquired by you, then they’d simply switch. Those acquisitions, I’m a little less interested in.

What I’m interested in is where we can supplement our technology, bring that to market quickly, and have a great team that mixes with ours. I would say with Command AI, that’s definitely been proven out. We’ve acquired them, they’re the foundation for our Guides and Surveys, and a good portion of some of that technology is coming to build our agenda capabilities. With Inari and with Craftful, I would say each in their independent areas, those teams have really been additive to ours. Certainly, we think we can take the Craftful product, which is relatively early in its maturity, but it’s not a huge stretch to think that the evolution of Voice of the Customer can be one that goes after the install bases for Qualtrics and Medallia.

Tyler Radke, Analyst: Right. Right. I guess on just the talent environment, obviously, there’s kind of this bifurcation where the expensive AI engineers are getting multiples of top NFL contracts or whatever. How are you sort of managing that from your perspective? On the other hand, there seems to be maybe a surplus of just kind of broad-based folks in computer science. Is that something being predominantly in San Francisco that’s been a challenge? Have you kind of seen some improvement on the talent front?

Andrew Casey, CFO, Amplitude: I think that, first of all, getting the right talent is always a challenge. You’re always focused on that. I think for us in particular, where we’ve brought in core AI talent into the company, it’s because we’ve had strong relationships with them. Our founders have a really strong relationship with the startup group within San Francisco. They continue to work and associate with that group. I can tell you Yana, who came over from Craftful, we’ve had long conversations with. The others were all Y Combinator-based founders. There’s that aspect. I think the other thing is a lot of them chose to come be a part of Amplitude because they aligned with our vision and focus and how they could bring their technology to a broader distribution and really contribute to something meaningful. I think that’s allowed us to bring in great talent.

The other thing I would tell you is it’s very interesting that increasingly you see great talent coming from basic universities where they’ve taught them to use the tools around AI to create applications and the infrastructure. We had a coding challenge recently within Amplitude with the interns. They were pitted against our engineers throughout Amplitude. Out of the top five, three of them were interns.

Tyler Radke, Analyst: Wow.

Andrew Casey, CFO, Amplitude: You’ve got talent now that’s coming up and has lived and grown up using those tool sets. They’re not as expensive as you expect.

Tyler Radke, Analyst: Yeah. Yeah.

Andrew Casey, CFO, Amplitude: I do think that’s always a challenge to get the right talent because you’ve got to have a mix. It’s like a good sports team. You’ve got to have good veterans, and you’ve got to have good rookies as well.

Tyler Radke, Analyst: Right. Got it. I guess just sort of turning to the recent results. As we close out here, thinking about end of year end, I think this last quarter was one of the strongest net new ARR quarters you had in quite a while. How are you seeing the pipeline evolve? Obviously, it sounds like you got kind of some positivity in terms of the salespeople less focused on a larger renewal base because of the multi-year nature. How are you feeling just heading into year end?

Andrew Casey, CFO, Amplitude: We feel good. We feel good that, look, the conversations we’ve had with enterprise clients are positive. They’re definitely seeing the value proposition. I think that our pipeline coverage has improved. Maturity could always be better. That comes with sales process and improvements there. We feel good about it. We feel like this is kind of going our direction.

Tyler Radke, Analyst: Yeah. Yeah. That’s great. I wanted to close out. I know you’ve had a busy day of meetings. If there’s anything else you wanted to leave for the audience before we close out, I’ll turn it back over to you.

Andrew Casey, CFO, Amplitude: The one thing I would tell you that increasingly we’re talking to investors about is what distinguishes us from other SaaS-based companies. In the wake of our earnings, it was interesting. We went to a conference right afterwards. The typical start was, great quarter. Sorry you’re not getting recognized for it. That’s just because you’re front office SaaS.

Tyler Radke, Analyst: Yeah, you’re not seat-based, right?

Andrew Casey, CFO, Amplitude: Exactly. Exactly. That’s the misnomer. I think increasingly, we’re trying to educate that we’ll lean into every optimization associated with the AI there is. In fact, we’re instrumenting it into our platform because we certainly believe that as customers use more AI, it actually benefits us with greater data ingestion. It showcases the value of the platform being well connected because workflows tend to be optimized as well. That’s something that I think we’re trying to make sure people know more and more. Frankly, the growth that we’ve had over the last year has predominantly been associated with cross-sell. Once we get past some of these issues that we’ve created for ourselves, we’ll actually start seeing benefits from up-sell and greater data ingestion as well.

Tyler Radke, Analyst: Yeah. Yeah. That’s a great place to end. Andrew, thank you very much.

Andrew Casey, CFO, Amplitude: Sure.

Tyler Radke, Analyst: Thanks, everyone, for joining us today. There might be a couple more sessions. Otherwise, we’ll see you tomorrow for the last day.

Andrew Casey, CFO, Amplitude: Thanks, Tyler.

Tyler Radke, Analyst: Thank you.

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