Amplitude, Inc. Reports $299.3 Million Revenue for Fiscal Year 2024, Despite Increased Net Losses

Amplitude, Inc. reported a revenue of $299.3 million for the fiscal year ending December 31, 2024, marking an 8% increase from $276.3 million in the previous year. Despite this growth, the company continued to experience net losses, with a reported loss of $94.3 million compared to a loss of $90.4 million in 2023. The increase in revenue was attributed to the expansion of its paying customer base, which grew to 3,875 customers, including 27 from the Fortune 100. However, the company faced challenges with customer churn, which slightly outpaced its expansion efforts, resulting in a dollar-based net retention rate of 97% for the year.

In terms of operational developments, Amplitude made significant investments in its Digital Analytics Platform, including the acquisition of CommandAI, which enhanced its capabilities in user assistance and analytics. The company launched new products such as Guides and Surveys in February 2025, further expanding its offerings. As of December 31, 2024, Amplitude had 591 customers generating over $100,000 in annual recurring revenue (ARR), a 16% increase from the previous year, and 42 customers with over $1 million in ARR, up 8% year-over-year. The company’s focus on a land-and-expand strategy has allowed it to grow alongside its customers, increasing usage across various teams and digital properties.

Amplitude's financial performance also reflected increased operating expenses, which rose to $329.7 million from $306.9 million in 2023. This increase was driven by higher costs in research and development, sales and marketing, and general administrative expenses. The company reported a gross margin of 74%, consistent with the previous year, while its cash flow from operations was $18.5 million, down from $25.6 million in 2023. The company ended the year with cash and cash equivalents of $171.7 million, alongside $126.7 million in marketable securities, indicating a solid liquidity position.

Looking ahead, Amplitude expressed optimism about its growth trajectory, emphasizing its commitment to investing in product innovation and expanding its international presence. The company plans to continue enhancing its platform to meet evolving customer needs and capitalize on the growing demand for digital analytics solutions. However, it also acknowledged potential risks, including economic uncertainties and competitive pressures that could impact its performance. The company remains focused on maintaining its leadership position in the digital analytics market while navigating these challenges.