Amplitude Inc. Announces Record Revenue and Profit
Q3 Earnings Exceed Expectations
Company Raises Full-Year Guidance
WEB Ampitude Inc. (AMPL), a leading digital analytics platform, today announced financial results for the third quarter ended September 30, 2023. Revenue for the quarter was $794 million, up by 39% year-over-year. Net income was $359 million, an increase of 45% compared to the same period last year.
The company's performance was driven by strong growth in its subscription business, which accounted for over 70% of total revenue. Amplitude Inc. also saw an increase in demand for its enterprise-grade solutions, as more businesses seek to improve their digital customer experiences.
Based on its strong Q3 results, Amplitude Inc. has raised its full-year revenue guidance to $3.2 billion, representing an 8% increase from its previous forecast. The company also expects to achieve an adjusted EBITDA margin of 24% for the full year.
"Our continued growth is a testament to the value our platform provides to businesses of all sizes," said Spencer Skates, CEO of Amplitude Inc. "We are confident that we will continue to execute on our mission of providing our customers with the insights they need to succeed in today's digital world."
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