Amplitude Inc (AMPL) 2024 Q2 法說會逐字稿

Hello, everyone. Welcome to Amplitude’s second quarter 2024 earnings conference call. I am Yaoxian Chew, Vice President of Investor Relations. Joining me here are Spenser Skates, CEO and Co-Founder of Amplitude; Andrew Cassey, Chief Financial Officer; and Mike Dean, VP, Corporate Controller.

大家好。歡迎參加 Amplitude 2024 年第二季財報電話會議。我是周耀賢，投資人關係副總裁。和我一起來的還有 Amplitude 的執行長兼共同創辦人 Spenser Skates；安德魯‧卡西，財務長；副總裁兼公司財務總監 Mike Dean。

During today's call, management will make forward-looking statements, including statements regarding our financial outlook for the third quarter and full year 2024. The expected performance of our products, our expected quarterly and long-term growth, investments and overall future prospects. These forward-looking statements are based on current information, assumptions and expectations and are subject to risks and uncertainties, some of which are beyond our control that could cause actual results to differ materially from those described in these statements.

在今天的電話會議中，管理層將做出前瞻性聲明，包括有關我們第三季和 2024 年全年財務前景的聲明。我們產品的預期表現、我們預期的季度和長期成長、投資和整體未來前景。這些前瞻性陳述是基於當前資訊、假設和預期，並受到風險和不確定性的影響，其中一些風險和不確定性超出了我們的控制範圍，可能導致實際結果與這些陳述中描述的結果有重大差異。

Further information on the risks that could cause actual results to differ is included in our filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, and we assume no obligation to update these statements after today's call, except as required by law.

有關可能導致實際結果不同的風險的更多資訊包含在我們向美國證券交易委員會提交的文件中。請您注意不要過度依賴這些前瞻性陳述，並且我們不承擔在今天的電話會議後更新這些陳述的義務，除非法律要求。

Certain financial measures used in today's call expressed on a non-GAAP basis. We use these non-GAAP financial measures internally to facilitate analysis of our financial and business trends and for internal planning and forecasting purposes. These non-GAAP financial measures have limitations and should not be used in isolation from or as a substitute for financial information prepared in accordance with GAAP.

今天的電話會議中使用的某些財務指標是在非公認會計原則的基礎上表達的。我們在內部使用這些非公認會計準則財務指標，以促進對我們的財務和業務趨勢的分析以及內部規劃和預測的目的。這些非 GAAP 財務指標具有局限性，不應單獨使用或取代根據 GAAP 準備的財務資訊。

A reconciliation between this GAAP and non-GAAP financial measures is included in our earnings press release, which can be found on our Investor Relations website at investors@amplitude.com.

我們的收益新聞稿中包含了 GAAP 和非 GAAP 財務指標之間的調整表，您可以在我們的投資者關係網站 Investors@amplitude.com 上找到該新聞稿。

With that, I'll hand the call over to Spenser.

這樣，我就把電話轉給史賓賽。

Thanks, Yao, and good afternoon, everyone. Welcome to our 2024 second quarter earnings call. I'm going to focus on three topics today. Q2 financial results and what we're seeing, how we're going after our market opportunity, and continued product innovation and customer stories.

謝謝姚老師，大家下午好。歡迎參加我們的 2024 年第二季財報電話會議。今天我將重點討論三個主題。第二季的財務表現以及我們所看到的情況、我們如何抓住市場機會以及持續的產品創新和客戶案例。

I'm pleased to report that we beat across all guided metrics this quarter. Our second quarter revenue was $73.3 million, up 8% year-over-year. Annual recurring revenue was $290 million, up $5 million from the end of the first quarter. We now have more than 3,200 paying customers. In Q2, customers representing $100,000 or more of ARR, grew to 547, an increase of 10% year-over-year. We are operating responsibly and have generated $5.7 million of free cash flow year-to-date.

我很高興地報告，本季我們超越了所有指導指標。我們第二季的營收為 7,330 萬美元，年增 8%。年度經常性收入為 2.9 億美元，比第一季末增加 500 萬美元。我們現在擁有超過 3,200 名付費客戶。第二季度，ARR 100,000 美元或以上的客戶增至 547 家，年增 10%。我們負責任地經營，今年迄今已產生 570 萬美元的自由現金流。

Before we get into the quarter's details, I want to call out that we are revising our annual guidance lower on non-GAAP operating profit for the year while raising revenue. This is due to a change in Russian sanctions announced in June. Without this, operating profit guidance would have been unchanged. We'll go into more detail shortly.

在我們討論本季的詳細資訊之前，我想指出，我們正在修改全年非公認會計準則營業利潤的年度指引，同時提高收入。這是由於 6 月宣布的俄羅斯制裁措施發生變化。如果沒有這一點，營業利潤指引將不會改變。我們很快就會詳細介紹。

Our top priority at Amplitude is reaccelerating growth, we are making great progress. New business remained healthy in the second quarter. Amplitude's value proposition continues to resonate, and our win rates are strong. In spite of tight IT budgets, companies are investing in digital experiences. I would characterize the macro environment as stable quarter-to-quarter. We continue to feel great about our competitive position, particularly against point solutions and legacy players. We have a differentiated platform approach. Customers find value quickly and privacy regulations are helping to drive incremental demand.

Amplitude 的首要任務是重新加速成長，我們正在取得巨大進展。第二季新業務保持健康。Amplitude 的價值主張繼續引起共鳴，我們的勝率很高。儘管 IT 預算緊張，公司仍在投資數位體驗。我認為宏觀環境季度環比穩定。我們仍然對自己的競爭地位感到滿意，特別是面對單點解決方案和傳統玩家時。我們有差異化的平台方法。客戶快速發現價值，隱私法規正在幫助推動增量需求。

As expected, churn also remained high in the second quarter. This was driven by some of our most severe legacy contract resets, which we have been highlighting for several quarters. We are optimistic that the significant majority of overbought to optimization contracts of this nature are now in our rearview mirror. We are building momentum from the many improvements we've made in go-to-market.

正如預期的那樣，第二季的客戶流失率也仍然很高。這是由我們一些最嚴重的遺留合約重置推動的，幾個季度以來我們一直在強調這一點。我們樂觀地認為，絕大多數此類性質的超買優化合約現在已經出現在我們的後視鏡中。我們正在透過在進入市場方面所做的許多改進來積聚動力。

Amplitude Plus, our self-serve offering continues to gain momentum with customers of all sizes and types. Plus performance was strong in Q2. New onboarding improvements and a simplified data setup process are driving uplifts and activation. Plus also continues to serve as a valuable feedback loop informing our win simple approach on core Amplitude.

我們的自助服務 Amplitude Plus 繼續受到各種規模和類型客戶的青睞。另外，第二季的表現強勁。新的入職改進和簡化的資料設定流程正在推動提升和啟動。Plus 也繼續作為一個有價值的反饋循環，為我們在核心 Amplitude 上獲勝的簡單方法提供資訊。

Our named account approach led to higher quality deals in Q2 than in prior quarters. We also saw better platform attach rates and steady improvement in enterprise land ASPs. Improved account management is letting us better align with customer initiatives and land larger customer engagements from the start.

我們的指定帳戶方法在第二季度帶來了比前幾季更高品質的交易。我們也看到了更好的平台附加率和企業土地平均售價的穩定提高。改進的客戶管理使我們能夠更好地配合客戶計劃，並從一開始就吸引更多的客戶參與。

We are growing our ability to gain mind share and budget across product, marketing and data buyers. The customer expansions we are unlocking are also of higher quality. During the start of the pandemic, data volume increases drove many of our largest expansions. Today, customers are expanding because Amplitude is viewed as the right future-proof enterprise-ready platform in a world where companies win and lose based on their digital experience.

我們正在增強在產品、行銷和數據買家中獲得思想份額和預算的能力。我們正在解鎖的客戶擴充功能也具有更高的品質。在大流行開始期間，數據量的增加推動了我們許多最大的擴張。如今，客戶正在不斷擴大，因為在一個公司的輸贏取決於其數位體驗的世界中，Amplitude 被視為正確的面向未來的企業級平台。

I'm also very encouraged by the continued green shoots that we called out in prior quarters. Customer relationships are healthier post-renewal with customers using more of our platform and attaching services. We are more aligned with our customers' current growth ambitions than we have been in the last year.

我也對我們在前幾個季度呼籲的持續萌芽感到非常鼓舞。續訂後，客戶關係更加健康，客戶更多地使用我們的平台和附加服務。與去年相比，我們更符合客戶目前的成長目標。

In our top 100 customers, underlying utilization trends continue to improve quarter-to-quarter. Cohort health is visibly improving. For customers who have optimized with us one-time, a majority of the associated ARR either renews flat or grows off of that base.

在我們的前 100 名客戶中，基本利用率趨勢逐季持續改善。隊列健康狀況明顯改善。對於與我們進行過一次優化的客戶來說，大部分相關的 ARR 要么持平，要么在此基礎上成長。

For customers acquired in the second half of 2022 and later, gross and net retention patterns continue to show better dynamics than those from 2020 and 2021. Pipeline signals also are encouraging for the second half of the year and into 2025, thanks to coordinated efforts across marketing, sales and partnerships.

對於 2022 年下半年及以後獲得的客戶，總保留模式和淨保留模式繼續表現出比 2020 年和 2021 年更好的動態。由於行銷、銷售和合作夥伴關係的協調努力，下半年到 2025 年的管道訊號也令人鼓舞。

We are seeing particular strength in our US enterprise business. International markets, while behind the United States in terms of maturity are demonstrating the same level of latent demand. Average deal size in our second half pipeline is up by 25% year-on-year and we're seeing a significant increase in large deal opportunities.

我們在美國企業業務中看到了特別的優勢。國際市場雖然在成熟度上落後於美國，但也展現了同樣程度的潛在需求。我們下半年的平均交易規模年增了 25%，我們看到大型交易機會顯著增加。

Now let's address the item that accounts for the change in non-GAAP operating profit outlook. In April 2022, we stopped all new sales activity in Russia and Belarus. We also terminated all contracts with customers that we knew to be targeted by US sections. Russian government-owned, Russian oligarchs-owned or Russian government-controlled news outlets. We continue to serve customers who did not meet that criteria.

現在讓我們來討論一下導致非公認會計原則營業利潤前景變化的項目。2022 年 4 月，我們停止了在俄羅斯和白俄羅斯的所有新銷售活動。我們也終止了與我們知道是美國部門針對的客戶的所有合約。俄羅斯政府所有、俄羅斯寡頭所有或俄羅斯政府控制的新聞媒體。我們將繼續為不符合該標準的客戶提供服務。

On June 12, the US Department of the Treasury increased the scope of sanctions in Russia, leaving us unable to serve any customers in Russia and highly unlikely to be able to collect from these previously unaffected customers. If not for this isolated incident, our outlook on operating profit for the year would have been unchanged.

6月12日，美國財政部擴大了對俄羅斯的製裁範圍，導致我們無法為俄羅斯的任何客戶提供服務，也極不可能向這些先前未受影響的客戶收取費用。如果不是這一孤立事件，我們對今年營業利潤的展望將保持不變。

While this weighs on what would have been a much stronger Q3 and exit growth rate, I would like to draw focus to the bigger picture. We are raising revenue guidance for the year despite facing a material headwind in Q3.

雖然這對本應強勁得多的第三季和退出成長率造成壓力，但我想將注意力集中在更大的前景上。儘管第三季面臨重大阻力，但我們仍上調了今年的營收指引。

The business improvements we have put in place are starting to deliver results. We believe ARR and revenue reacceleration are both well within our reach. We expect to be free cash flow positive for the year. We continue to invest behind the biggest driver of long-term growth for Amplitude, product innovation. Next slide, please.

我們實施的業務改進已開始產生成果。我們相信 ARR 和收入重新加速都是我們所能做的。我們預計今年自由現金流為正。我們持續投資於 Amplitude 長期成長的最大推動力—產品創新。請下一張投影片。

Our thesis is that analytics is a center of gravity for any workflow that touches customer and product data. Without analytics, the rest of the stack is much less useful. Session replay is making rapid progress in its second live quarter. There is a lot of customer pain experience from fragmented tooling. Our platform is continuing to displace point solutions, aid in renewal discussions and offer a shorter time to value for our platform.

我們的論點是，分析是任何涉及客戶和產品資料的工作流程的重點。如果沒有分析，堆疊的其餘部分就沒那麼有用了。會話重播在第二個即時季度取得了快速進展。碎片化的工具給客戶帶來了許多痛苦的經歷。我們的平台正在繼續取代單點解決方案，幫助更新討論並縮短我們平台的價值實現時間。

We expect a larger unlock when we launch mobile Session Replay later this year. Experiment and CDP landed with marquee customers and some of our largest expansions this quarter were catalyzed by our non-analytics offerings. A confluence of tight customer budgets, enhanced product maturity and improving field enablement are letting us lean in.

我們預計今年稍後推出行動版 Session Replay 時會解鎖更多內容。實驗和 CDP 登陸了大客戶，本季我們的一些最大的擴張是由我們的非分析產品推動的。緊張的客戶預算、增強的產品成熟度和改進的現場支援使我們能夠向前邁進。

Today, 21% of our annual contracted customers use more than one product, up from 15% at the same time last year. Customers who use more products retain better. Industry analysts are also recognizing our leadership. Amplitude was named as the only leader in the latest Forrester Wave for feature management and experimentation. We achieved the highest possible scores across 11 criteria, with particular call outs for our platform breadth, depth, user interface, pricing and vision.

如今，我們的年度簽約客戶中有 21% 使用不只一種產品，高於去年同期的 15%。使用更多產品的客戶保留得更好。產業分析師也認識到我們的領導地位。Amplitude 在最新的 Forrester Wave 中被評為功能管理和實驗的唯一領導者。我們在 11 項標準中獲得了盡可能高的分數，特別強調了我們平台的廣度、深度、使用者介面、定價和願景。

We announced the general availability of Amplitude Snowflake native offering in June. Our warehouse native approach is all about extending what has made Amplitude successful, being one of the most open, agnostic and trusted ways to access and find insights from customer data. Early interest here is encouraging.

我們宣布 Amplitude Snowflake 原生產品於 6 月全面上市。我們的倉庫原生方法旨在擴展 Amplitude 的成功之處，成為存取客戶資料並從中找到見解的最開放、最不可知且最值得信賴的方法之一。早期的興趣令人鼓舞。

We've made other huge strides in our mission to win the enterprise. Large, sophisticated enterprises have different needs, and one of their top requests is for enterprise-grade controls. That's why I'm excited to announce enterprise-grade data access controls and data mutability. These advancements help to eliminate data drift, ensure compliance and reduce friction around managing data privacy.

我們在贏得企業的使命中又取得了巨大的進步。大型、複雜的企業有不同的需求，他們的首要要求之一是企業級控制。這就是為什麼我很高興宣布企業級資料存取控制和資料可變性。這些進步有助於消除資料漂移、確保合規性並減少管理資料隱私方面的摩擦。

With our enterprise-grade digital analytics platform, customers can keep data in sync with their data warehouse, confidently control who sees what. With improved security, scalability and privacy, we're confident we can convert the most conservative chief data officers into Amplitude Champions.

借助我們的企業級數位分析平台，客戶可以使資料與其資料倉儲保持同步，自信地控制誰看到什麼。透過提高安全性、可擴展性和隱私性，我們有信心將最保守的首席資料長轉變為 Amplitude 冠軍。

Last quarter, I talked about radical simplicity. We've always been a self-serve platform, but now we want to eliminate the learning curve altogether. This is one of the most ambitious projects we've taken on as a company. We've reimagined our product experience from top to bottom, and we will be launching ran new Amplitude on September 10. We're offering users a single line of code to get up and running, default dashboards out of the box, auto capture and visual tagging, bundling of Session Replay and experiment SDKs with analytics out of the box, new navigation and user interface and a new conversational version of our AI assistant and search.

上個季度，我談到了徹底的簡單。我們一直是一個自助平台，但現在我們希望完全消除學習曲線。這是我們作為一家公司承擔的最雄心勃勃的項目之一。我們從上到下重新構想了我們的產品體驗，我們將於 9 月 10 日推出新的 Amplitude。我們為用戶提供一行程式碼即可啟動和運行、開箱即用的預設儀表板、自動捕獲和視覺標記、會話重播和實驗 SDK 與開箱即用的分析捆綁、新的導航和用戶界面以及我們的人工智慧助理和搜尋的新對話版本。

Analytics today is hard. We are going to make it easy. All the priceless customer behavior, product and community knowledge embodied in Amplitude will be approachable to everyone. It will be radically easier to get started, get insights and get value. We want Amplitude to be a daily habit, and our new platform will help get us there. We can't wait to share more.

今天的分析很困難。我們會讓這一切變得簡單。Amplitude 所體現的所有無價的客戶行為、產品和社區知識都將變得平易近人。入門、獲得見解和獲得價值將變得更加容易。我們希望 Amplitude 成為一種日常習慣，我們的新平台將幫助我們實現這一目標。我們迫不及待地想分享更多。

Turning to customers. In Q2, we landed and grew with HubSpot, Fanatics Live, Cloudflare, SketchUp, Writer, Character.AI, Volvo, Icelandair, Cook Children's Healthcare System and Farmers Business Network.

轉向客戶。第二季度，我們與 HubSpot、Fanatics Live、Cloudflare、SketchUp、Writer、Character.AI、Volvo、冰島航空、庫克兒童醫療保健系統和 Farmers Business Network 合作並取得成長。

A notable highlight this quarter is SketchUp, a business unit of Trimble. Globally, they are one of the largest 3D modeling tools in the construction and industrial industry with tens of millions of monthly users. With this renewal, product and data teams are drastically increasing the amount of data from their web and mobile applications in addition to going live with Amplitude CDP.

本季的一個顯著亮點是 Trimble 的業務部門 SketchUp。在全球範圍內，它們是建築和工業行業最大的 3D 建模工具之一，每月擁有數千萬用戶。透過此次更新，產品和資料團隊除了啟用 Amplitude CDP 之外，還大幅增加了其 Web 和行動應用程式的資料量。

SketchUp aims to democratize data across the business, empowering product managers with self-service insights. With Amplitude, SketchUp will be able to enact PLG best practices, everything from encouraging free-to-paid upgrades, keeping users engaged after the initial learning curve and identifying churn as it happens. We're excited to support SketchUp in their ongoing data-centric transformation and look forward to contributing to their continued success.

SketchUp 旨在使整個企業的資料民主化，為產品經理提供自助服務洞察。透過 Amplitude，SketchUp 將能夠制定 PLG 最佳實踐，從鼓勵免費升級到付費升級、在初始學習曲線後保持用戶參與以及識別發生的流失等。我們很高興能夠支持 SketchUp 正在進行的以數據為中心的轉型，並期待為他們的持續成功做出貢獻。

We also had a win with Cook Children's Health Care System, one of the largest non-profit pediatric medical centers in the US. They are migrating from Google due to data privacy and HIPAA compliance concerns. With a focus on digital transformation and optimizing the patient experience, they chose Amplitude to power user insights with their newly launched web experience. Amplitude will let them connect web and mobile patient journeys to increase patient appointment conversion and identify channel performance across marketing campaigns.

我們也與庫克兒童醫療保健系統取得了勝利，該系統是美國最大的非營利兒科醫療中心之一。由於資料隱私和 HIPAA 合規性問題，他們正在從 Google 遷移。他們專注於數位轉型和優化患者體驗，選擇 Amplitude 透過新推出的網路體驗來增強用戶洞察力。Amplitude 將使他們能夠連接網路和行動患者旅程，以提高患者預約轉換率並確定行銷活動中的管道績效。

Character.AI has been an Amplitude customer for less than a year and is already expanding its use cases and adoption of Amplitude. They are one of the fastest-growing AI companies, empowering users to create and interact with various AI characters that feel alive. Amplitude has proven critical in tracking their users' onboarding flow and the success of new feature releases. This is especially important as they roll out their new voice feature, which allows users to hear characters speaking to them in one-to-one chats. They are consolidating their analytics efforts by adding our whole suite to this renewal.

Character.AI 成為 Amplitude 客戶不到一年，並且已經在擴展其用例和 Amplitude 的採用。他們是發展最快的人工智慧公司之一，使用戶能夠創建各種充滿活力的人工智慧角色並與之互動。事實證明，Amplitude 對於追蹤使用者的入職流程和新功能發布的成功至關重要。這一點尤其重要，因為他們推出了新的語音功能，該功能允許用戶在一對一聊天中聽到角色與他們交談。他們正在透過將我們的整個套件添加到此更新中來鞏固他們的分析工作。

Another great win this quarter is with a Global Job search platform, which saw the potential to consolidate multiple point solutions and for Amplitude to become their single source of truth. Before Amplitude, the team couldn't trust the results of the experiments they would run. They spend more time arguing than running tests.

本季的另一個巨大勝利是全球求職平台，該平台看到了整合多點解決方案的潛力，並使 Amplitude 成為他們的單一事實來源。在 Amplitude 之前，團隊無法相信他們所進行的實驗結果。他們花在爭論上的時間多於運行測試的時間。

By moving away from Optimizely onto Amplitude, they could finally scale their experimentation program by eliminating two big blockers, a lack of data trust and the painful overhead associated with integrations and data pipelines. This is a great example of how our Amplitude approach solves pain with unbeatable value.

透過從 Optimizely 轉向 Amplitude，他們最終可以透過消除兩大障礙、缺乏數據信任以及與整合和數據管道相關的痛苦開銷來擴展他們的實驗計劃。這是我們的 Amplitude 方法如何以無與倫比的價值解決痛苦的一個很好的例子。

With our digital analytics platform, Amplitude is able to bring together product leaders, data scientists, engineers and growth teams to make data-driven decisions, streamline workflows and connect insights to actions at scale.

借助我們的數位分析平台，Amplitude 能夠將產品領導者、資料科學家、工程師和成長團隊聚集在一起，做出數據驅動的決策、簡化工作流程並將見解與大規模行動聯繫起來。

Before I turn the call over, I want to thank Mike Dean for his contributions during this period of transition at Amplitude. He is one of the rock stars at this company and has done an amazing job rising to this occasion at an important time for Amplitude as interim finance leader.

在轉交電話之前，我要感謝 Mike Dean 在 Amplitude 過渡期間所做的貢獻。他是這家公司的搖滾明星之一，在 Amplitude 的重要時刻作為臨時財務負責人，完成了出色的工作。

I'm excited to introduce our new Chief Financial Officer, Andrew Casey. Andrew has more than 25 years of battle-tested enterprise software experience. He has had senior finance roles across ServiceNow, Oracle and HP. More recently, he took WalkMe public in its IPO and was CFO of Lacework.

我很高興向大家介紹我們的新任財務長安德魯凱西。Andrew 擁有超過 25 年久經考驗的企業軟體經驗。他曾在 ServiceNow、Oracle 和 HP 擔任高階財務職務。最近，他帶領 WalkMe 上市，並擔任 Lacework 的財務長。

I've gotten to know Andrew well recently. He's a fantastic combination of strategic thinking while being able to get into the details operationally. He also has a genuine passion for the space we're in. We're both in it for the long-term, and I'm looking forward to working closely with him as we write the next chapter of growth for Amplitude.

我最近對安德魯很了解。他是戰略思維與操作細節的完美結合。他對我們所處的空間也懷抱著真正的熱情。我們都是長期合作的，我期待與他密切合作，共同譜寫 Amplitude 的下一個成長篇章。

We have been up-leveling every area of our business and building momentum. We continue to see more pockets of strength han weakness. We will turn our green shoots into something more as we build a defining generational software company.

我們一直在提升業務的各個領域並建立動力。我們繼續看到更多的優勢和弱點。當我們建立一家具有決定性意義的新一代軟體公司時，我們將把我們的萌芽變成更多的東西。

Thank you for your interest in Amplitude. I'd now like to turn it over to Andrew for a brief introduction before Mike walks you through the financial results.

感謝您對振幅的興趣。在麥克向您介紹財務業績之前，我現在想將其交給安德魯進行簡要介紹。

Thank you, Spencer. I'm very excited to be here. I joined Amplitude because it solves a universal critical business need with an elegant solution. I've never been a company that ever said that I want to understand my customer less or that they don't really care about their digital products.

謝謝你，史賓塞。我很高興來到這裡。我加入 Amplitude 是因為它透過優雅的解決方案解決了普遍的關鍵業務需求。我從來沒有一家公司說過我想更少地了解我的客戶或他們並不真正關心他們的數位產品。

Over the last few days, I've spent meeting many people across our organization, and I found that there are so many great materials that have already been put in place over the last year. I have been most impressed by the passionate customers, the world-class platform that Amplitude provides and the team that Spencer is building. I can't wait to turn the page together and have a part in leading amplitude towards the next chapter of growth.

在過去的幾天裡，我會見了我們組織中的許多人，我發現去年已經準備好了很多很棒的材料。熱情的客戶、Amplitude 提供的世界級平台以及 Spencer 正在組建的團隊給我留下了最深刻的印象。我迫不及待地想一起翻過這一頁，並參與引領發展的下一個篇章。

I look forward to getting to know many of you in the coming weeks. And with that, I'll pass it over to Mike to share more details on results and outlook for the quarter.

我期待在接下來的幾週內認識你們中的許多人。接下來，我會將其轉交給麥克，以分享有關本季業績和前景的更多詳細資訊。

Thanks, Andrew and Spencer, and thanks to everyone joining us today. I'm happy to report that we beat across the board on all guided metrics this quarter.

謝謝安德魯和史賓塞，也謝謝今天加入我們的所有人。我很高興地向大家報告，本季我們在所有指導指標上都全面領先。

Turning to our second quarter results. As a reminder, all financial results that I will be discussing with the exception of revenue, are non-GAAP. Our GAAP financial results, along with a reconciliation between our GAAP and non-GAAP results can be found on our earnings press release and supplemental financials on our IR website.

轉向我們第二季的業績。提醒一下，我將討論的所有財務表現（收入除外）均為非公認會計原則。我們的 GAAP 財務表現以及我們的 GAAP 和非 GAAP 業績之間的調整表可以在我們的收益新聞稿和 IR 網站上的補充財務報告中找到。

Second quarter revenue was $73.3 million, up 8% year-over-year and 1% quarter-over-quarter. Total ARR increased to $290 million exiting Q2, an increase of 8% year-over-year and $5 million sequentially.

第二季營收為 7,330 萬美元，年增 8%，季增 1%。第二季 ARR 總增至 2.9 億美元，年增 8%，季增 500 萬美元。

Here are more details on key elements of the quarter. New ARR was about one-third land and two-thirds expand driven. Churn was down slightly quarter-to-quarter as customers on multiyear contracts optimized their renewals. Linearity on churn was better than expected, which resulted in sequential revenue growth.

以下是有關本季度關鍵要素的更多詳細資訊。新的ARR大約有三分之一的土地和三分之二的擴張驅動。由於簽訂多年合約的客戶優化了續約，客戶流失率逐季略有下降。客戶流失線性度優於預期，導致營收季增。

The total number of customers representing $100,000 or more of ARR in Q2 grew to 547, an increase of 10% year-over-year. Underlying utilization trends across our largest customers continue to improve quarter-to-quarter, which is also impacting gross margin. We believe that the worst excesses of the pandemic surge embedded in our ARR are now behind us.

第二季度，ARR 10 萬美元或以上的客戶總數增加至 547 家，較去年同期成長 10%。我們最大客戶的基本利用率趨勢逐季持續改善，這也影響了毛利率。我們相信，我們的 ARR 中包含的大流行病激增的最嚴重的過度行為現在已經過去了。

In-period NRR was 96%, and NRR on a trailing 12-month basis was 98%. Gross margin was 76% for the second quarter, down 2 percentage points year-over-year and 1 percentage point quarter-over-quarter. Investments in enterprise-related professional services, along with improving utilization caused the sequential margin downtick.

期內 NRR 為 96%，過去 12 個月的 NRR 為 98%。第二季毛利率為76%，較去年同期下降2個百分點，較上季下降1個百分點。對企業相關專業服務的投資以及利用率的提高導致利潤率環比下降。

Sales and marketing expenses were 48% of revenue, up 3 percentage points year-over-year. Here, we are focusing investment around our named account approach. Increased investment in our international efforts and travel expenses were also key drivers of the year-on-year increase.

銷售和行銷費用佔收入的48%，年增3個百分點。在這裡，我們將投資重點放在我們的指定帳戶方法。我們對國際努力和差旅費用的投資增加也是年成長的主要驅動力。

G&A was 15% of revenue, up 1 percentage point year-over-year. There was approximately $0.6 million of non-recurring expenses in the quarter related to executive search, severance and legal fees. Total operating expenses were $59 million, up 11 percentage points year-on-year. We continue to be judicious about hiring across the board.

G&A 佔營收的 15%，年增 1 個百分點。本季約有 60 萬美元的非經常性費用與高階主管搜尋、遣散費和法律費用相關。總營運費用為5,900萬美元，年增11個百分點。我們在全面招聘方面繼續保持明智。

Operating profit was negative $3.7 million or negative 5% of revenue, which represents a 4 percentage point decline on a year-over-year basis. Net loss per share was $0.00 based on 122.6 million of basic and fully diluted shares compared to net income per share of $0.02 with 126.3 million diluted shares a year ago. Free cash flow in the quarter was positive $6.8 million, or 9.3% of revenue, compared to $19.3 million, or 28.5% of revenue, a year ago. Free cash flow was impacted by lower operating profit and early timing of some payments.

營業利潤為負 370 萬美元，佔營收的 5%，年減 4 個百分點。基於 1.226 億股基本股和完全稀釋股，每股淨虧損為 0.00 美元，而一年前基於 1.263 億股稀釋股的每股淨收益為 0.02 美元。本季自由現金流為正 680 萬美元，佔營收的 9.3%，而一年前為 1,930 萬美元，佔營收的 28.5%。自由現金流受到營業利潤下降和部分付款提前的影響。

Now let's turn to our outlook. We are assuming that the macroeconomic environment continues to be challenging throughout the rest of the year. Spencer mentioned that we are seeing a greater number of larger deals in our pipeline. We believe this warrants additional conservatism as buyer scrutiny remains high.

現在讓我們來談談我們的展望。我們假設今年剩餘時間宏觀經濟環境持續充滿挑戰。史賓塞提到，我們看到越來越多的大型交易正在醞釀中。我們認為，由於買家的審查仍然很高，因此需要採取額外的保守態度。

Now let me unpack how Russian sanctions affect our financials. We estimate a negative impact of $3 million to full-year ARR. We also estimate a negative impact to full-year operating profit of $4 million. This is due to a combination of lost revenue and changes to our expectations of our ability to collect open receivables. It is important to note that our full-year operating income guidance would have remained unchanged without these sanctions. As a result of these factors, we are expressing heightened caution on Q3 ARR.

現在讓我來分析一下俄羅斯制裁如何影響我們的財務狀況。我們估計對全年 ARR 的負面影響為 300 萬美元。我們也估計全年營業利潤將受到 400 萬美元的負面影響。這是由於收入損失以及我們對收取未清應收帳款的能力的期望發生變化所致。值得注意的是，如果沒有這些制裁，我們的全年營業收入指引將保持不變。由於這些因素，我們對第三季 ARR 表示高度謹慎。

For the third quarter of 2024, we expect Q3 revenue to be between $73.5 million and $74.5 million, representing an annual growth rate of 5% at the midpoint. We expect non-GAAP operating loss to be between negative $2.2 million and negative $1.2 million. And we expect non-GAAP net income per share to be between $0.0 and $0.01, assuming diluted shares outstanding of approximately 131.6 million.

對於 2024 年第三季度，我們預計第三季營收將在 7,350 萬美元至 7,450 萬美元之間，年成長率中點為 5%。我們預計非 GAAP 營運虧損將在負 220 萬美元至負 120 萬美元之間。假設稀釋後的流通股約為 1.316 億股，我們預期非 GAAP 每股淨利將在 0.0 美元至 0.01 美元之間。

For the full year, we are raising our full-year revenue outlook to be between $294.5 million and $296.5 million, an annual growth rate of 7% at the midpoint. We are reducing our outlook for non-GAAP operating income to be between negative $5 million and negative $2 million. We expect non-GAAP net income per share to be between $0.05 and $0.08, assuming shares outstanding of approximately $131.4 million as measured on a fully diluted basis.

對於全年，我們將全年營收預期上調至 2.945 億美元至 2.965 億美元之間，年成長率中點為 7%。我們將非 GAAP 營業收入的預期下調至負 500 萬美元至負 200 萬美元之間。假設以完全攤薄計算的已發行股票約為 1.314 億美元，我們預計非 GAAP 每股淨利潤將在 0.05 美元至 0.08 美元之間。

And here's more color for your modeling purposes. We continue to expect end-period NRR to remain below 100% and NRR to trough in the mid-90s this year. We continue to expect year-over-year ARR growth to trough in Q3 of this year in the mid-single digits. We continue to expect to be free cash flow positive for the full year.

這裡有更多顏色供您建模使用。我們繼續預期期末淨利率將維持在 100% 以下，今年淨利率將降至 90 年代中期的低潮。我們繼續預計今年第三季的同比 ARR 成長將達到中個位數的低谷。我們繼續預計全年自由現金流為正。

Our long-term opportunity remains unchanged. We are controlling what we can control. We are delivering on free cash flow and investing appropriately against opportunities that we expect will drive long-term value. We believe ARR and revenue reacceleration are both well within our reach.

我們的長期機會保持不變。我們正在控制我們能控制的事情。我們正在提供自由現金流，並針對我們預計將推動長期價值的機會進行適當投資。我們相信 ARR 和收入重新加速都是我們所能做的。

With that, I'll open it up to Q&A. Over to you, Yao.

接下來，我將進行問答。交給你了，姚。

Great. Spenser and Mike will be answering questions. (Event Instructions) Our first question comes from Koji Ikeda, Bank of America, followed by Tyler Radke from Citi.

偉大的。史賓塞和麥克將回答問題。（活動說明）我們的第一個問題來自美國銀行的 Koji Ikeda，其次是花旗銀行的 Tyler Radke。

Hey, guys. Thanks so much for taking the question. I wanted to dig in a little bit more about this Russia impact. I might be a little bit confused here, but I just wanted to make sure I run through these numbers properly.

嘿，夥計們。非常感謝您提出問題。我想更深入了解俄羅斯的影響。我在這裡可能有點困惑，但我只是想確保我正確地運行了這些數字。

Okay. So, essentially what happened was there was additional considerations for Russia business, and it's affecting ARR. But just trying to understand why operating income goes down but revenue goes up. I'm trying to understand those puts and takes there of why that happens because it seems like ex-Russia, the guidance would have been raised quite a bit. I'm just trying to understand that a little bit more, please.

好的。因此，本質上發生的情況是對俄羅斯業務有額外的考慮，這影響了 ARR。但只是想了解為什麼營業收入下降但收入上升。我試著去理解那些看跌期權和看跌期權為什麼會發生這種情況，因為看起來像前俄羅斯，指導意見會被提高很多。我只是想多了解一點，拜託。

Yeah, certainly. Thanks for the question. One of the big impacts is bad debt. So, there's aged receivables there. And so with that, you're going to have an OpEx impact, as well as revenue. Talking about raising revenue for the full year, though, that's because we believe that we're in a fundamentally different place as a business. And as a reminder, we've beat our expectations for the first half of the year. And so, with that, naturally that's going to flow through to the full year. And so the Russia impact is a mix of both lost revenue, but there is a large bad debt component to aged receivables at that time.

是的，當然。謝謝你的提問。最大的影響之一是壞帳。因此，那裡存在陳舊的應收帳款。因此，您將對營運支出以及收入產生影響。不過，談到增加全年收入，這是因為我們相信，作為一家企業，我們處於一個根本不同的境地。提醒一下，我們今年上半年的業績超出了我們的預期。因此，這樣的話，自然會延續到全年。因此，俄羅斯的影響既包括收入損失，也包括當時陳舊的應收帳款中存在大量壞帳成分。

Got it. Now that makes a lot more sense. Thank you. And just maybe to follow-up there. And one more, if I may. Is Andrew going to be on the call, too, or are you holding them back for maybe the next one?

知道了。現在這更有意義了。謝謝。也許只是在那裡跟進。如果可以的話，再來一張。安德魯也會參加電話會議嗎？

No. We do have him here. I just want to --

不。我們確實有他在這裡。我只想--

I'm here.

我在這兒。

-- make it clear he's only been here for -- since Monday of this week in the business. (multiple speakers) And so the representations come from me as CEO, as well as Mike as Interim Head of Finance, so.

- 明確表示他只是從本週一開始就在這裡工作。（多名發言者）因此，這些陳述來自作為執行長的我，以及作為臨時財務主管的麥克。

Got it. So just one quick follow up there on the Russia impact. Is this just a second half effect or should we expect any sort of bleed through into 2025?

知道了。因此，我們僅對俄羅斯的影響進行快速跟進。這只是下半年的影響還是我們應該預期 2025 年會有任何影響？

So most of the impact is going to be felt in Q3, but there is a lost revenue impact as well. And so with that, there will be some impact into 2025 as well.

因此，大部分影響將在第三季感受到，但收入也會受到影響。因此，到 2025 年也會產生一些影響。

Okay. And then maybe just one quick one for Andrew. I do realize that you started on Monday. Welcome to the team. Super excited to be working with you. But just thinking big picture perspective, what are some of the first priorities or things that you'll be looking at maybe over the next six months?

好的。然後也許只是安德魯的一個快速的。我確實知道你是從星期一開始的。歡迎加入團隊。非常高興與您合作。但從大局來看，您在接下來的六個月內可能會考慮的首要任務或事情是什麼？

I think it's really important as a new leader joining an organization that you spend time to really understand how the business has been run. Spenser and the team have built a really vibrant business with a really great customer base. And I want to understand how we are aligning our strategic objectives, our long-term growth perspectives around those objectives, and then see how I can lean in.

我認為，作為加入組織的新領導者，花時間真正了解業務的運作方式非常重要。史賓塞和他的團隊建立了一個充滿活力的業務，擁有龐大的客戶群。我想了解我們如何調整我們的策略目標以及圍繞這些目標的長期成長前景，然後看看我如何能夠融入其中。

As you may or may not know, I've had a lot of experience with respect to scaling businesses in the past, and I spend a good amount of time meeting with customers and helping the sales teams work with our customers to drive the greatest value possible. And I figure that's probably where I'll spend some of my initial time is to understand what processes we have in place and how best I can help the teams really drive that growth.

您可能知道也可能不知道，我過去在擴展業務方面擁有豐富的經驗，並且我花費了大量時間與客戶會面並幫助銷售團隊與客戶合作以實現最大價值可能的。我想我最初可能會花一些時間來了解我們現有的流程以及如何最好地幫助團隊真正推動成長。

Next question, Matt Pryde from Citi, followed by Arjun Bhatia from Blair. Matt, go ahead, please.

下一個問題是來自花旗集團的馬特·普賴德 (Matt Pryde)，隨後是來自布萊爾 (Blair) 的阿瓊·巴蒂亞 (Arjun Bhatia)。馬特，請繼續。

Hi, team. Just one quick question on AI. Just curious if what you see in terms of event volume intensity for GenAI use cases like Character.AI.

大家好。只是一個關於人工智慧的簡單問題。只是好奇您是否看到 GenAI 用例（例如 Character.AI）的事件量強度。

Yeah. I think these are software applications first and foremost. Now, obviously, the interface is a little different in that you'll have a chat or a conversational interface versus one where you're pointing and clicking or using a touch interface. But at the end of the day, what we track is customer behavior, and so it ends up being the same thing underlying.

是的。我認為這些首先是軟體應用程式。現在，顯然，該介面有點不同，您將擁有一個聊天或對話介面，而不是您指向並單擊或使用觸控介面的介面。但歸根結底，我們追蹤的是客戶行為，因此最終結果是相同的。

Character.AI has huge amount of use, as you might expect. We also work with Midjourney, who has a huge amount of use as you'd expect, and they're tracking similar things. What does the onboarding funnel look like, where are users getting stuck, whether things correlate to upsell or to long-term engagement and retention. And so, even though the interface with generative AI is different, the underlying idea that you're tracking a user journey and you're trying to figure out how to improve that is all the same.

正如您所料，Character.AI 有著巨大的用途。我們還與 Midjourney 合作，正如您所期望的那樣，他們的使用量很大，而且他們正在追蹤類似的事情。入職管道是什麼樣的，用戶在哪裡陷入困境，是否與追加銷售或長期參與和保留有關。因此，儘管生成式人工智慧的介面不同，但追蹤用戶旅程並試圖找出改進方法的基本想法是相同的。

Arjun, go ahead. Next question after Arjun, Nick Altmann from Scotia.

阿瓊，繼續吧。阿瓊之後的下一個問題是來自斯科細亞省的尼克·阿爾特曼。

One for you. Maybe I'll start off. It's interesting to hear and encouraging to hear that you're seeing strength in the US enterprise business and large deals in the pipeline. I'm curious how the constitution of those enterprise customers that are evaluating Amplitude is different perhaps from what your customer base was three, four years ago.

一份給你。也許我會開始。聽到您看到美國企業業務的實力和正在醞釀的大型交易，這很有趣，也很令人鼓舞。我很好奇那些正在評估 Amplitude 的企業客戶的組成可能與三、四年前的客戶群有何不同。

What's new and what's maybe not there that was there several years ago? And then part of that question is, why now? Because we do hear of macro challenges in the enterprise. So what's your perspective on why these businesses are looking at Amplitude right now?

哪些是新的，哪些是幾年前可能沒有的？然後這個問題的一部分是，為什麼是現在？因為我們確實聽過企業面臨的宏觀挑戰。那麼您對這些企業現在關注 Amplitude 的原因有何看法？

Yeah, so let me hit the macro challenges piece and then I'll talk about how the composition has changed over the last few years. I think even during the worst parts of macro in the last few quarters, new business demand for Amplitude and digital analytics generally has always been strong. I think the growth deceleration that we've seen has been largely as a result of the optimization of the contracts. And now that the significant majority of those in our rearview mirror, that is a structural change to how we're going to be set up for growth. Even if you were to look internally at the new numbers, any particular quarter, they'd be quite good.

是的，讓我談談宏觀挑戰，然後我將談談過去幾年的組成如何變化。我認為，即使在過去幾季宏觀經濟最糟糕的時期，對 Amplitude 和數位分析的新業務需求總體上也一直很強勁。我認為我們看到的成長減速很大程度上是合約優化的結果。現在，我們的後視鏡中的絕大多數都是對我們的成長方式的結構性改變。即使你在內部查看任何特定季度的新數據，它們也會相當不錯。

In terms of the customer base, I think the changes that Thomas has been driving over the last two years in our go-to-market enterprise motion, we're really starting to see some great impacts from that. A lot more conversations with traditional companies like we're talking with some of the largest quick-serve restaurants in the world as example, healthcare companies like Cook Children's Health Care System. That was a really big win in Q2.

就客戶群而言，我認為托馬斯在過去兩年中在我們的企業上市行動中推動的變化，我們確實開始看到一些巨大的影響。與傳統公司進行更多對話，例如我們與世界上一些最大的快餐店、庫克兒童醫療保健系統等醫療保健公司進行對話。這是第二季的巨大勝利。

And we didn't really see those companies if I were to go -- rewind the clock two or three years ago, and so I think the strategic focus across the board with go-to-market with the named account structure that we rolled out, drove more focus from marketing partnerships and sales and SDRs.

如果我去的話，我們並沒有真正看到這些公司——把時鐘倒回兩三年前，所以我認為全面的策略重點是透過我們推出的指定帳戶結構進入市場，促使人們更加關注行銷合作夥伴關係以及銷售和特別提款權。

And then with everything we're doing on the product side, like we just announced both data mutability and data access controls, which are a big deal for those traditional enterprises, has really helped show that, okay, we are a viable player and this technology is not just for digital native tech companies, but it also applies to anyone with a digital experience, including if you're a traditional company.

然後，我們在產品方面所做的一切，就像我們剛剛宣布的數據可變性和數據訪問控制，這對那些傳統企業來說是一件大事，確實有助於表明，好吧，我們是一個可行的參與者，這項技術不僅適用於數位原生科技公司，也適用於任何擁有數位體驗的人，包括傳統公司。

Now, obviously, we're still seeing a lot of great traction with tech companies and expect that to be a significant part of our customer base for some time. But it's great to see us making progress on that crossing the chasm moment to the rest of the enterprise.

現在，顯然，我們仍然看到科技公司有很大的吸引力，並預計在一段時間內它們將成為我們客戶群的重要組成部分。但很高興看到我們在跨越企業其他部門的鴻溝方面取得了進展。

Yeah, for sure. No, that's great to hear.

是的，當然。不，很高興聽到這個消息。

And then actually --

然後實際上--

Andrew. Sorry, do you have something?

安德魯.抱歉，你有東西嗎？

I was going to say just one additional thing. I think a lot of times in industry we get a little focused on the soup du jour, if you will, of macro things that are going on. But digital transformation is a multi-decade process, and every company is going to go through a process and steps through which they're going to digitize their methods of reaching out to customers and their business processes. And ultimately, I think Amplitude has a really great opportunity to be a lead player in that transformative event for most of those customers.

我只想多說一件事。我認為，在工業界，很多時候我們會稍微關注正在發生的宏觀事情（如果你願意的話）。但數位轉型是一個長達數十年的過程，每家公司都將經歷一個流程和步驟，透過這些流程和步驟，他們將接觸客戶的方法和業務流程數位化。最終，我認為 Amplitude 有一個非常好的機會成為大多數客戶這場變革活動的領導者。

So I think it's great that even though we have a macro background, which isn't great, these types of investments, these types of focuses, they take many, many, many years to evolve, and it's great that we're starting to make those investments now.

因此，我認為，儘管我們的宏觀背景並不好，但這些類型的投資、這些類型的重點，它們需要很多、很多、很多年的時間來發展，這很好，我們開始現在就進行這些投資。

Yeah. And you're going to do them regardless of the macro. As I mentioned, like, this is a top priority for so many companies that we talk with, even though they're thinking through tighter budgets, more scrutiny, more questions and ROI.

是的。無論宏觀情況如何，你都會執行這些操作。正如我所提到的，對於我們交談過的許多公司來說，這是首要任務，儘管他們正在考慮更嚴格的預算、更多的審查、更多的問題和投資回報率。

For sure. Yeah, there's a secular trend there. And then the follow-up actually, on the product side, Spenser. The Warehouse-native analytics and the work that you're doing with Snowflake, how should we think about where that impacts your customers? Is that ease of implementation? Is that cost savings? Is that better outcome? What is the ROI that the customers will see from that?

一定。是的，那裡有一個長期趨勢。然後是產品方面的後續行動，史賓塞。Warehouse 原生分析以及您使用 Snowflake 所做的工作，我們應該如何考慮這對您的客戶有何影響？實施起來容易嗎？這樣可以節省成本嗎？這樣的結果比較好嗎？客戶將從中看到的投資報酬率是多少？

Ease of implementation and access to that existing customer base from the cloud data warehouse, particularly Snowflake to become Amplitude customers more easily. So the big deal with warehouse-native Amplitude is instead of having to create a data pipeline from your cloud data warehouse to an analytics product like Amplitude, you're just running SQL queries directly on top of that data.

易於實施並從雲端資料倉儲存取現有客戶群，尤其是 Snowflake，可以更輕鬆地成為 Amplitude 客戶。因此，倉庫原生 Amplitude 的重要之處在於，您不必建立從雲端資料倉儲到 Amplitude 這樣的分析產品的資料管道，您只需直接在該資料之上執行 SQL 查詢即可。

And so if you have that data already collected on the customer journey, then you can just turn Amplitude on top of it and be off and running with a lot less implementation cost. And so we've already seen it come up -- it's early. We just launched it in June. We've already seen it come up as a consideration, particularly in larger companies that have made big investments into the cloud data warehouse.

因此，如果您已經在客戶旅程中收集了這些數據，那麼您只需將 Amplitude 置於其之上即可開始運行，並且實施成本要低得多。所以我們已經看到它出現了——現在還很早。我們六月剛推出。我們已經看到它被作為一個考慮因素，特別是在對雲端資料倉儲進行了大量投資的大公司。

I was in one conversation with a traditional company a few weeks ago where they called it the biggest differentiator we had versus everything else they were looking out on the market because they knew that it would make it much easier to get some of their smaller teams up and running more quickly.

幾週前，我與一家傳統公司進行了一次對話，他們稱這是我們與他們在市場上尋找的其他產品相比的最大區別，因為他們知道這將使他們的一些較小團隊更容易組建起來並且跑得更快。

So philosophically, it's -- we want to be data agnostic. So as the proliferation of different ways to set up your data stack continues, we want to make sure to work with every different one. Warehouse-native is just another way to do that. And then for us it's about how do we win the applications on top of that data. So analytics, experimentation, CDP, Session Replay, we'll have more to come.

所以從哲學上來說，我們希望成為數據不可知論者。因此，隨著設定資料堆疊的不同方法不斷增多，我們希望確保適用於每一種不同的方法。倉庫原生只是實現這一目標的另一種方式。然後對我們來說，問題是如何根據這些數據贏得應用程式。因此，分析、實驗、CDP、會話重播，我們還會有更多。

Next question, Nick Altmann from Scotia, followed by Rob Oliver from Baird. Nick go ahead please.

下一個問題是來自 Scotia 的 Nick Altmann，隨後是來自 Baird 的 Rob Oliver。尼克請繼續。

Spenser, you guys highlighted how some of the go-to-market adjustments are starting to bear fruit. And when you think about the historical drag on net new ARR, right, a lot of that has been macro induced and churn induced.

史賓塞，你們強調了一些進入市場的調整是如何開始取得成果的。當您考慮對淨新 ARR 的歷史拖累時，對吧，其中很大一部分是由宏觀因素和客戶流失引起的。

But when we think about the upswing, when the macro gets better and you guys are sort of lapping this churn dynamic, how much of the improvements in go-to-market -- how impactful can the improvements in the go-to-market motion be as things progress, you get through this renewal base and hopefully we get a little bit of a better demand environment here?

但是，當我們考慮經濟回升時，當宏觀經濟好轉時，你們正在經歷這種攪動動態，上市活動的改進有多大——上市活動的改進能產生多大影響隨著事情的進展，你會通過這個更新基地，希望我們在這裡能得到更好的需求環境嗎？

Yeah. So, Nick, I want to be clear like, the path to reacceleration as I look through the next few quarters and in 2025, we're not dependent on any improvements in macro. We're saying, hey, macro stays as bad as it is and we're still set up to accelerate in terms of how much net ARR we're putting up a quarter. I'd say, the changes that we've been driving with the enterprise focus, massive, massive improvement.

是的。所以，尼克，我想明確的是，在我展望未來幾個季度和 2025 年時，重新加速的道路，我們不依賴宏觀方面的任何改進。我們想說的是，嘿，宏觀經濟仍然如此糟糕，我們仍然準備好加速我們每季淨 ARR 的成長。我想說的是，我們一直以企業為重點推動變革，大規模改進。

I mean, those customers are just stickier, long term. We're talking about starting out at a three-year contract instead of a one-year contract. We're talking about doing much larger, wider deployments across hundreds or thousands of people in some cases. The change that we made at the start of this year was we moved to a new named account structure that halved the total number of companies we were going after.

我的意思是，這些客戶的黏性更強，而且是長期的。我們討論的是從三年合約開始，而不是一年合約。在某些情況下，我們正在討論對數百或數千人進行更大規模、更廣泛的部署。我們在今年年初做出的改變是，我們轉向了新的命名帳戶結構，這使得我們要追蹤的公司總數減少了一半。

So it went from about 24,000 to about 12,000. And that focus has driven really great execution that we're starting to see. So that shows up in the pipeline call-out that I made for second half in Q4. That shows up in larger lands. That shows up in just healthier renewal rates and healthier expansions. That shows up with more of the platform being landed right at the start.

因此，人數從約 24,000 人增加到約 12,000 人。我們開始看到，這種專注推動了真正出色的執行。因此，這顯示在我為第四季下半年製作的管道標註中。這體現在更大的土地上。這體現在更健康的更新率和更健康的擴張。這顯示更多的平台在一開始就落地了。

And so you're using those expensive human resources to where you're going to have the greatest ROI. So I'd say, that's going -- without that, we'd be in a much, much worse place as a business. And so that will set us up for reacceleration even if the macro continues to stay bad over the next few quarters.

因此，您將這些昂貴的人力資源用於獲得最大投資回​​報的地方。所以我想說，如果沒有這個，我們的企業處境就會變得更糟。因此，即使宏觀經濟在未來幾季繼續惡化，這也將為我們重新加速做好準備。

And then the second question just kind of to dovetail off that answer, right? You have customers who maybe, historically speaking, you wouldn't be in discussions with. I think you said the ASPs in the pipeline are up 25%.

然後第二個問題剛好與這個答案相吻合，對吧？從歷史上看，您可能不會與您的客戶進行討論。我想您說過正在醞釀的 ASP 上漲了 25%。

So there's definitely sort of bigger deals in the pipeline. The challenge with that is maybe sales cycles can elongate and things maybe take longer to close. So I guess what have you seen maybe over the past couple of quarters with those big deals? Have they taken a little bit longer to close? And on the flip side of the equation going forward with -- when you look at this pipeline with larger deals out there, are you guys sort of baking in sales cycle elongation or stuff to kind of move around from quarter to quarter? Just any commentary around sort of the flip side of the equation in terms of those large deals would be helpful. Thanks.

所以肯定有一些更大的交易正在醞釀中。這樣做的挑戰是，銷售週期可能會延長，事情可能需要更長的時間才能完成。所以我想在過去的幾個季度裡，您在這些大交易中看到了什麼？他們是否需要更長的時間才能關閉？另一方面，當你看到這條正在進行較大交易的管道時，你們是否在考慮延長銷售週期或從一個季度到另一個季度移動的東西？就這些大宗交易而言，任何圍繞等式另一面的評論都會有所幫助。謝謝。

Yeah, I mean, I think one of the changes that you have to go through when you're going after that sort of business is to be having a longer-term outlook versus just the quarter in front of you. And so I'd say, one of the motions that I've kind of glossed over, but to your call out is very important, is we're now looking at pipeline multiple quarters out.

是的，我的意思是，我認為當你追求這類業務時，你必須經歷的改變之一就是擁有更長期的前景，而不是僅僅關注眼前的季度。所以我想說，我有點掩飾的動議之一，但對你們來說非常重要，我們現在正在考慮多個季度的管道。

We're looking at renewals a year out from when they would versus just fighting quarter to quarter to maximize that particular quarter, which is why I gave the callout on Q4 pipeline. We're already looking at renewals in 2025. And so that's a natural part of going upmarket, is that you'll get those longer valuation cycles.

我們正在考慮一年後的續約，而不是逐季奮戰以最大化該特定季度，這就是我對第四季度管道進行標註的原因。我們已經在考慮 2025 年的續約。因此，這是進入高端市場的一個自然組成部分，你將獲得更長的估值週期。

I will say they're not that much longer in terms of total time. There is an urgency to get -- like, a lot of -- so many companies have made big investments into their data stack. And you have CEOs and product leaders and marketing leaders asking, hey, when is this actually going to get some ROI out of this? And we're such a key part of that equation because we drive that self-service, otherwise the data is all locked up and trapped within whatever their data stack is.

我想說的是，就總時間而言，它們並沒有那麼長。如此多的公司已經對其數據堆疊進行了大量投資，因此迫切需要獲得這樣的資訊。執行長、產品負責人和行銷負責人會問，嘿，什麼時候才能真正從中獲得一些投資回報？我們是這個等式的關鍵部分，因為我們推動自助服務，否則資料都會被鎖定並困在他們的資料堆疊中。

And so there's like very much an urgency from the customer side around, hey, I want to demonstrate some quick ROI. Like, I'll tell you one story where we had a meeting with a customer in Europe a few months ago, Decathlon, and they had been longtime Google Analytics users. They weren't happy with a bunch of the changes with Google Analytics 4, they had actually driven their entire team to switch over to Amplitude and their goal was to complete that within a 12-month period.

因此，客戶方面非常緊迫，嘿，我想展示一些快速的投資回報率。例如，我會告訴你一個故事，幾個月前我們在歐洲與一位客戶 Decathlon 會面，他們是 Google Analytics 的長期使用者。他們對 Google Analytics 4 的一系列變更並不滿意，他們實際上已經推動整個團隊切換到 Amplitude，他們的目標是在 12 個月內完成這項任務。

So they've gone from 0 to about 600 users on Amplitude in two quarters. That is the fastest ramp I've ever seen for someone getting up to speed with analytics. And then they have the goal to get to multiple thousands by the end of this year. So I was blown away by the urgency that they had to make that switch. And as we make them successful, that's going to be a great lighthouse story for other retail customers. But it really speaks to the urgency that we are seeing a lot of buyers have in this environment.

因此，兩個季度內 Amplitude 的用戶數量從 0 增加到了大約 600 個。對於加快分析速度的人來說，這是我所見過的最快的進步。他們的目標是到今年年底達到數千人。因此，我對他們必須做出這種轉變的迫切性感到震驚。當我們讓他們成功時，這對其他零售客戶來說將是一個偉大的燈塔故事。但這確實說明了我們看到許多買家在這種環境下的緊迫性。

And adding on also with your question of how it impacts our guidance, we recognize this increase in pipeline and ASPs is also against a backdrop where buyer scrutiny remains high. And so with that, that's fully baked into our guidance as well.

再加上您關於它如何影響我們的指導的問題，我們認識到管道和平均售價的增加也是在買家審查仍然很高的背景下進行的。因此，這也完全納入我們的指導中。

Next question, Rob Oliver from Baird, followed by Taylor McGinnis from UBS. Rob, go ahead, please.

下一個問題是來自 Baird 的 Rob Oliver，隨後是來自 UBS 的 Taylor McGinnis。羅布，請繼續。

So just one from me, Spenser, on -- really just a follow-up on Nick's question. The customers paying over $100,000 grew 10%, accelerated sequentially. You called out some success on the non-analytics side as well and it sounds like most of this is self-help. So very encouraging signs.

史賓塞，我的一個發言——其實只是尼克問題的後續。支付超過 10 萬美元的客戶成長了 10%，且成長連續加快。您在非分析方面也取得了一些成功，聽起來大部分都是自助。這是一個非常令人鼓舞的跡象。

I'd be curious to know what you're seeing in terms of consolidation in the market. Are we at the point now where some of those -- and I know you've said customers that are post '22, are continuing to expand with you guys? But are you getting a sense when you look at your pipeline that there is a significant opportunity around you guys consolidating other vendors as well? Is that part of what's happening in the market, notwithstanding the fact that there's a tough macro?

我很想知道您在市場整合上看到了什麼。我們現在是否已經到了這樣的階段：其中一些——我知道你們說過 22 年後的客戶——正在繼續與你們一起擴張？但是，當您查看您的管道時，您是否感覺到您周圍也存在整合其他供應商的重大機會？儘管宏觀經濟形勢嚴峻，但這是否是市場正在發生的事情的一部分？

Yeah, absolutely. I think. Well, first, the tough macro is actually driving the consolidation because people want fewer vendor relationships. They want to have lower total cost of ownership, never mind the advantages of having the platform be integrated.

是的，絕對是。我認為。首先，嚴峻的宏觀形勢實際上正在推動整合，因為人們希望減少供應商關係。他們希望降低總擁有成本，更不用說整合平台的優勢。

And then there's just -- these tools work better together. And that was one of the -- that was the founding thesis for Amplitude, which is, analytics is the core of the stack. So I cited that SketchUp, moved on to our CDP, I cited a large global job company ended up moving from Optimizely to Amplitude.

然後，這些工具協同工作效果更好。這是 Amplitude 的創始論文之一，即分析是堆疊的核心。所以我引用了 SketchUp，轉向了我們的 CDP，我引用了一家大型全球招聘公司最終從 Optimizely 遷移到 Amplitude。

It's part of why Forrester called us out as the leader is because our vision is for the entire platform and they're hearing that from buyers, hey, I just don't want a point solution for experimentation, it's got to be integrated with the analytics and it's got to offer something more broad than that.

Forrester 稱我們為領導者的部分原因是我們的願景是整個平台，他們從買家那裡聽到了這樣的說法，嘿，我只是不想要一個用於實驗的單點解決方案，它必須與分析，它必須提供比這更廣泛的東西。

Every single company that -- whenever I have a conversation with a customer, universally, whether it's Session Replay, whether it's experimentation, whether it's some of the other stuff we're planning further out in our roadmap, there is a desire to move on to the platform. So yeah, that is a huge, huge trend driving our business generally. And I think that's going to -- doing that right, doing both the creation of the platform and the suite along with the motion to get it into the hands of customers is going to be a big driver of our success in the space.

每一家公司——每當我與客戶進行對話時，普遍來說，無論是會話重播，無論是實驗，還是我們在路線圖中進一步計劃的其他一些東西，都有繼續前進的願望到平台。是的，這是一個巨大的趨勢，總體上推動了我們的業務。我認為，正確地做到這一點，創建平台和套件，以及將其交到客戶手中的動議，將成為我們在該領域取得成功的重要推動力。

That's why we had -- we talked about our strategy in the past, one of the pillars being win the category. And so it's not just about analytics anymore, it's about how does that work with Session Replay and experimentation and other parts of the stack.

這就是為什麼我們過去討論過我們的策略，支柱之一就是贏得該類別。因此，這不再只是關於分析，而是關於如何與會話重播和實驗以及堆疊的其他部分一起工作。

And then just a quick follow-up on international. Does the move toward named account, which clearly is having a positive impact on your go-to-market, does that also include international? And can you talk a little bit about it? One of the call-out wins that you cited was international. So if you could talk a little bit about how the international sales force is structured as well. Thanks.

然後是國際方面的快速跟進。轉向指定帳戶顯然對您的市場進入產生了積極影響，這是否也包括國際帳戶？你能談談這個嗎？您提到的其中一項勝利是國際性的。因此，您是否也可以談談國際銷售團隊的架構。謝謝。

Yeah, named accounts. Yeah, the named account approach, both applies to US, applies to Europe, and applies to Asia. So the way we've done international is we look at, we've chosen a few Tier 1 markets. For example, UK, France, Germany, Europe, Japan, Korea and Asia. There's the US, obviously, as well as Canada and Brazil. I'm sure I missed one in that list.

是的，命名帳戶。是的，指定帳戶方法既適用於美國，也適用於歐洲，也適用於亞洲。因此，我們進行國際化的方式是我們選擇了一些一級市場。例如，英國、法國、德國、歐洲、日本、韓國和亞洲。顯然有美國，還有加拿大和巴西。我確信我錯過了該列表中的一個。

But -- and then within those markets, we're saying, okay, let's make sure to focus our enterprise sellers and our emerging enterprise sellers on these 12,000 named accounts. And then anything else goes into our velocity bucket. So we actually -- we made an announcement we just hired a new leader in Europe, Lee Edwards, who's going to be running the sales team out there. So very, very excited. We have a lot of great accounts there.

但是 - 然後在這些市場中，我們說，好吧，讓我們確保將我們的企業賣家和新興企業賣家的重點放在這 12,000 個指定帳戶上。然後其他任何東西都會進入我們的速度桶。因此，我們實際上宣布，我們剛剛聘請了歐洲的新領導者 Lee Edwards，他將負責管理那裡的銷售團隊。非常非常興奮。我們在那裡有很多很棒的客戶。

I mentioned Decathlon earlier. We have Le Monde, we have a lot of other great enterprises. And it's about how do you bring the same success that we've had in the US there.

我之前提到過迪卡儂。我們有《世界報》，我們還有很多其他偉大的企業。這是關於如何在美國取得同樣的成功。

I think the important thing to recognize is just the market's early all over no matter where you go. And so we want to make sure to invest appropriately against that opportunity and that's why we have field teams and all the GLs that I mentioned.

我認為重要的是要認識到，無論你去哪裡，市場都處於早期階段。因此，我們希望確保針對此機會進行適當的投資，這就是為什麼我們擁有現場團隊和我提到的所有 GL 的原因。

Next question, Claire Gerdes from UBS, followed by Jackson Ader from KeyBanc.

下一個問題是來自 UBS 的 Claire Gerdes，隨後是來自 KeyBanc 的 Jackson Ader。

Hey, Claire, we can't hear you.

嘿，克萊爾，我們聽不到你的聲音。

Your audio is not working. Can you give that another try?

您的音訊無法正常運作。你能再試一次嗎？

Sorry about that. Thanks for taking the question here for -- on for Taylor McGinnis. Yeah, I just wanted to ask about the launch of the new Amplitude in September, the new platform. Exciting to hear about that. It sounds like it'll lower some of the barriers to getting started. So I guess what kind of new opportunities are you expecting that will open up? And just any kind of like pricing changes or anything we should be mindful of? Thanks.

對此感到抱歉。感謝泰勒·麥金尼斯 (Taylor McGinnis) 在這裡提出問題。是的，我只是想問一下 9 月推出的新 Amplitude 這個新平台的情況。很高興聽到這個消息。聽起來這會降低一些入門障礙。那麼我想您預計會出現什麼樣的新機會呢？還有任何類型的價格變化或我們應該注意的事情嗎？謝謝。

So we're not doing any pricing changes as part of the launch. The launch is very focused on thinking about what is Amplitude -- what is not just Amplitude, what is analytics going to look like in the future. And so if you talk to any team trying to implement self-service analytics at a company, you will get all these stories about how painful and long the process is. You have to create a tracking plan, you have to get the engineering team to implement hundreds of lines of code.

因此，作為發布的一部分，我們不會進行任何價格調整。這次發布非常注重思考什麼是 Amplitude——什麼不僅僅是 Amplitude，以及未來的分析會是什麼樣子。因此，如果您與任何試圖在公司實施自助分析的團隊交談，您會聽到所有這些關於這個過程是多麼痛苦和漫長的故事。你必須創建一個追蹤計劃，你必須讓工程團隊實現數百行程式碼。

You have to get data flowing in, you got to train your team on it, you got to learn the semantics of what does a chart mean, how do you do a funnel analysis, and so on. And the goal is to cut as much of that out as possible. So you're only doing one line of code, you're getting a whole bunch of dashboards out of the box, and then you're getting on that train of analytics value as quickly as possible.

你必須讓資料流入，你必須訓練你的團隊，你必須學習圖表意義的語義，如何進行漏斗分析，等等。我們的目標是盡可能消除這種情況。因此，您只需執行一行程式碼，即可獲得一大堆開箱即用的儀表板，然後您就可以盡快獲得分析價值。

So I expect that to a few different things. One, it's going to bring analytics to a whole new set of companies that have wanted it but have really struggled with the cumbersome and long implementation processes that analytics currently takes.

所以我希望有一些不同的事情。第一，它將把分析技術帶給一群全新的公司，這些公司一直想要分析技術，但在目前分析技術所採用的繁瑣而漫長的實施過程中遇到了困難。

And then two, that'll get them to value that much quicker and start to get on that train. If I think out 5 or 10 years from now about how -- what the winning company in this space is going to look like, there is no way it's going to be as difficult as it is today. So we've been putting in a lot of work on the product development team over the last few months in preparation for this launch about all the different areas that I outlined.

然後是兩個，這會讓他們更快地認識到價值並開始上火車。如果我思考 5 或 10 年後這個領域的獲勝公司會是什麼樣子，那麼它就不會像今天這樣困難。因此，在過去的幾個月裡，我們在產品開發團隊中投入了大量的工作，為我概述的所有不同領域的發布做準備。

And yeah, we're going to be excited to launch that September 10, and we think that's going to open up a whole new segment of customers that's going to accelerate more companies landing. That's going to get them up to speed and faster.

是的，我們將很高興在 9 月 10 日推出這項服務，我們認為這將開闢一個全新的客戶群，從而加速更多公司的登陸。這將使他們更快地跟上進度。

Next question, Jackson from KeyBanc followed by J.R. from Piper. Jackson. Go ahead, please.

下一個問題是來自 KeyBanc 的 Jackson，接著是來自 Piper 的 J.R.。傑克森.請繼續。

First question on the sales marketing motion, how much your sales marketing expenses are split between net new go-get versus renewals?

關於銷售行銷動議的第一個問題，您的銷售行銷費用在淨新目標和續約之間分配了多少？

So what we're trying to do is obviously minimize the amount that's on renewals at the end of the day. So really focusing the sales efforts on both net new customers, as well as expanding existing customers. And that's really where you're spending the cycle. And the goal is when you're up and running, you kind of minimize that cost.

因此，我們要做的顯然是最大限度地減少一天結束時的續約金額。因此，真正將銷售工作重點放在新客戶和擴大現有客戶。這確實是您花費週期的地方。目標是當您啟動並運行時，您可以最大限度地降低成本。

One of the changes we've made is introducing a premium services package that helps attach specifically just to, okay, let's make sure you've implemented, let's make sure you're getting values, let's make sure you renew. And so that helps separate out some of the costs. Mike, I don't know if we have a breakdown on any of that stuff or any way to characterize it.

我們所做的改變之一是引入了一個高級服務包，該包專門幫助附加到，好吧，讓我們確保您已經實施，讓我們確保您獲得價值，讓我們確保您續訂。這樣有助於分離出一些成本。麥克，我不知道我們是否對這些內容進行了細分或以任何方式來描述它。

No, we don't share that publicly. But everything that you've highlighted is there. The other thing that I'd highlight is that we're investing in the enterprise and so professional services related to that is impacting the gross margin specifically. And that's what's happening there. But that's all an investment to better the customer base in the enterprise.

不，我們不會公開分享這一點。但您強調的所有內容都在那裡。我要強調的另一件事是，我們正在投資企業，因此與之相關的專業服務特別影響毛利率。這就是那裡正在發生的事情。但這都是為了改善企業客戶群的投資。

And then I guess a quick follow-up along a similar line. But I just think if you're leaning into some of the product-led growth on the lower end, is there going to be an opportunity to structurally reshape some of these expense lines, maybe shifting some sales marketing away and into R&D? Like, should we expect more (multiple speakers) Yeah. Can we just talk a little bit about how the structural changes of the expenses might look in the next couple of years?

然後我猜想會沿著類似的路線快速跟進。但我只是認為，如果你傾向於低端產品主導的成長，是否有機會從結構上重塑其中一些費用線，也許將一些銷售行銷轉移到研發上？就像，我們應該期待更多（多個發言者）嗎？我們能否簡單談談未來幾年費用結構的變化？

Yeah. So I want to be careful about giving any explicit guidance. Obviously, that's something, as Andrew comes on board, that we're going to be looking to shape together as we think about it. Let me give some high-level points on it, though.

是的。所以我想在給出任何明確的指導時要小心。顯然，隨著安德魯的加入，我們將在思考的同時尋求共同塑造這一點。不過，讓我對此給出一些高層次的觀點。

First is that you're right on. I think the key is putting the expensive human resources onto the enterprise accounts where you see, call it, 300,000, 500,000, million-plus opportunity. And then anything below that line, if you're thinking about sub-100,000, you're really getting -- you're automating that more and more. So there's always going to be a need, especially when you talk about a digital analytics deployment at scale.

首先，你是對的。我認為關鍵是將昂貴的人力資源投入到企業帳戶上，你會看到，30萬、50萬、數百萬個機會。然後，任何低於該線的東西，如果你考慮的是 100,000 以下，你真的會得到 - 你正在越來越多地實現自動化。因此，需求總是存在的，尤其是當您談論大規模數位分析部署時。

For human interaction, you need to coordinate stakeholders. There's work to make all of them successful. And then at the low end, like you mentioned, automating more and more of the motion. I think the other benefit of PLG, as you mentioned, is that it makes it much easier. So you don't even need all those human resources for all the implementation.

對於人際互動，您需要協調利害關係人。有工作可以讓他們所有人都成功。然後在低端，就像你提到的，自動化越來越多的動作。我認為 PLG 的另一個好處，正如您所提到的，是它使事情變得更加容易。因此，您甚至不需要所有這些人力資源來完成所有實施。

So I think absolutely, that's, long term, one of the aspirations where you're getting more of the enterprise customer base coming through the PLG motion. We've seen a few early successes there. I mentioned a railway company last quarter, as well as one of the large chip companies out there that came in actually through the Plus motion, and that obviously makes the cost of sale and getting them up and running much, much cheaper. So that's absolutely a lever that we're going to be using to reduce cost, overall expense to acquire customers over time.

所以我認為，從長遠來看，這絕對是透過 PLG 動議獲得更多企業客戶群的願望之一。我們在那裡看到了一些早期的成功。上個季度我提到了一家鐵路公司，以及實際上透過 Plus 議案進入的一家大型晶片公司，這顯然使得銷售以及啟動和營運成本便宜得多。因此，這絕對是我們用來降低成本和整體費用的槓桿，以隨著時間的推移贏得客戶。

We are fundamentally a product company, a product-led company. And so starting with great product and winning with great product is the core of Amplitude. And so on a relative basis, yeah. Investing more there over time is directionally where we're going.

我們本質上是一家產品公司，一家以產品為主導的公司。所以從優秀的產品開始，以優秀的產品取勝是Amplitude的核心。所以在相對基礎上，是的。隨著時間的推移，我們將在這方面進行更多投資。

[J.R.] from Piper, followed by Elizabeth Porter from Morgan Stanley.

來自 Piper 的 [J.R.]，其次是來自摩根士丹利的伊麗莎白波特。

I'd love to go back to Session Replay for a moment. What's been the competitive response since adding the product earlier this year? And curious if you've seen pricing turn more aggressive there. And just in general, any views on competition this quarter would be helpful.

我很想回到會話重播一會兒。自今年稍早添加該產品以來，競爭反應如何？並且好奇您是否看到那裡的定價變得更加激進。總的來說，對本季競爭的任何看法都會有所幫助。

Yeah, so Session Replay, that has been -- so we just launched it in Q1 and it has been the fastest ramp we've seen in terms of additional products outside of analytics. Every single company that we talk to that already uses our analytics and has another third-party vendor for Session Replay is interested in consolidating. I don't think I've talked to one that says, oh, no, we're happy with our standalone one. It just -- it makes so much sense because you can do have a lower total cost of ownership and then the integration and workflows is actually really key too.

是的，所以會話重播，我們剛剛在第一季推出了它，這是我們在分析之外的其他產品方面看到的最快的增長。我們接觸過的每家公司都已經使用我們的分析，並且有另一個第三方會話重播供應商有興趣進行整合。我想我沒有和一個人說過，哦，不，我們對我們的獨立產品感到滿意。它只是 - 它非常有意義，因為您確實可以降低總擁有成本，然後整合和工作流程實際上也非常關鍵。

One of the great use cases with using Session Replay and analytics is that you can look at, say, users that encountered a bug or encountered an issue, an error and then watch the sessions to see where they ran into that and what caused it and then go back and fix that. We've already used that. We've seen a lot of our customers use that and it's not something you can do if you have a Session Replay provider standalone. So we're seeing a lot of pull from that end.

使用會話重播和分析的一個很好的用例是，您可以查看遇到錯誤或遇到問題、錯誤的用戶，然後觀察會話以了解他們在哪裡遇到了問題以及導致問題的原因，以及然後回去解決這個問題。我們已經用過了。我們已經看到很多客戶都在使用它，如果您有獨立的會話重播提供程序，那麼您就無法做到這一點。所以我們看到這方面有很大的吸引力。

In terms of the costs, like, yeah, that is the point. Yeah, we are going to give price pressure to these other players in the market and we can offer something like, I'd say, half the cost, but that's accretive to us, saves the customer money, drives more overall values. Just a win on all fronts. And so, in a lot of ways, we are kind of the lower-cost provider because you're coming onto our platform.

就成本而言，是的，這就是重點。是的，我們將給市場上的其他參與者施加價格壓力，我們可以提供類似一半的成本，但這對我們來說是增值的，可以節省客戶的錢，帶來更多的整體價值。只是各方面的勝利。因此，在很多方面，我們都是成本較低的供應商，因為您正在進入我們的平台。

Next question, Elizabeth Porter, Morgan Stanley, followed by Clark Wright, D.A. Davidson. Elizabeth, go ahead, please.

下一個問題是摩根士丹利的伊麗莎白波特 (Elizabeth Porter)，然後是地方檢察官克拉克賴特 (Clark Wright)。戴維森。伊麗莎白，請繼續。

Great. Thanks so much. I actually have a follow-up to Claire's question on the new product rollout. I was curious if you've had prior new platform rollouts and what those -- any sort of changes in KPIs you may have seen in the past as it relates to improvements in retention or engagement? And I'm just looking to any historical precedents that we can look to kind of inform our view on the new opportunity.

偉大的。非常感謝。實際上，我對克萊爾關於新產品推出的問題有一個後續行動。我很好奇您之前是否推出過新平台，以及您過去可能看到的 KPI 的任何變化，因為它與保留率或參與度的提高有關？我只是在尋找任何歷史先例，我們可以透過這些先例來了解我們對新機會的看法。

We haven't done one like that since we've been public. I think the last change that we made in this was probably six or seven years ago. So this is the biggest that we've done since that point in time. So Elizabeth, there isn't a ton of precedent.

自從我們公開以來，我們還沒有做過這樣的事情。我認為我們最後一次對此做出的改變可能是六、七年前。這是我們自那時以來所做的最大的一次。所以伊麗莎白，沒有很多先例。

What I will say on just some of the quick stats, we're seeing about somewhere between a 40% and 50% increase in data activation. So of the percentage of people that sign up, how many actually end up getting data? We're seeing a lot more engagement from new customers on Session Replay and on experimentation. So that's been a real positive as well.

我要說的是一些快速統計數據，我們看到數據激活量增加了 40% 到 50% 之間。那麼，在註冊的人中，有多少人最終真正獲得了數據？我們看到新客戶對會話重播和實驗的參與度大大提高。所以這也是一個真正的正面因素。

My expectation is this will lead to us getting more customers, as well as having the customers that do come in be more likely to be successful in activating get through the whole funnel. Now it is our first salvo at this and so we're going kind of to continue iterate and beat the drum past September 10 on this because we want to be the leaders here and so that there's no reason to choose anyone else over Amplitude. And so I'm excited to see and report on the results once we get to the other side of the launch.

我的期望是，這將使我們獲得更多客戶，並讓進來的客戶更有可能成功地啟動整個管道。現在這是我們在這方面的第一次齊射，因此我們將在 9 月 10 日之後繼續迭代並敲響鼓，因為我們希望成為這裡的領導者，因此沒有理由選擇其他任何人而不是 Amplitude。因此，一旦我們到達發射的另一邊，我很高興看到並報告結果。

Great. And then just as a follow-up quickly on NRR, there was modest contraction, kind of as expected. Would just love to unpack some of the drivers between absolute churn, down sell, and upsell, kind of any areas that you'd call out that actually saw a little bit of better improvement? Kind of what maybe got a little bit worse?

偉大的。然後，正如 NRR 的快速後續行動一樣，出現了適度的收縮，有點像預期的那樣。只是想解開絕對流失、降價銷售和追加銷售之間的一些驅動因素，以及您認為實際上看到了一點更好改進的任何領域嗎？可能會變得更糟一點？

Yeah. So we've said that we're going to trough in the mid-90s this year and that's where we are right now. The big impact is obviously the optimizations for the multiyear contracts that happened, and then we're going to have a headwind in Q3 with Russia as well. Absent that, we believe we're in a fundamentally different place to reaccelerate growth and that's well within our reach.

是的。所以我們說過，今年我們將在 90 年代中期陷入低谷，而這正是我們現在所處的位置。巨大的影響顯然是對多年期合約的優化，然後我們在第三季與俄羅斯也會遇到阻力。如果沒有這一點，我們相信我們在重新加速成長方面處於一個根本不同的境地，而這完全是我們力所能及的。

Awesome. Last question, Clark Wright, D.A. Davidson. Go ahead, please, Clark.

驚人的。最後一個問題，克拉克·賴特，D.A.戴維森。請繼續，克拉克。

So we've seen consecutive quarters accelerating --?

所以我們看到連續幾季加速——？

Sorry, Clark, we can't hear you on the audio. Much better, much better.

抱歉，克拉克，我們聽不到您的聲音。好多了，好多了。

Good now? Okay. So we have seen consecutive quarters of accelerating customer count growth. And we'd love to understand where these companies are starting at and how do you plan to drive these new logos to your 50K Plus cohort, whether it's through incremental product adoption or seed ads.

現在好了嗎？好的。因此，我們看到客戶數量連續幾季加速成長。我們很想了解這些公司從哪裡開始，以及您計劃如何將這些新商標推向您的 50K Plus 群體，無論是透過增量產品採用還是種子廣告。

Yeah. So I want to be clear on customer count, we continue to disclose that because we have historically, but it lumps in the Plus customers as well, which only started at the end of last year. So the year-on-year comparisons are not apples to apples. And so part of the reason why we disclosed 100K customer Plus is because those are like -- you can think of those as real or large or enterprise customers. And so, I'd focus more on that.

是的。所以我想明確一下客戶數量，我們繼續披露這一點，因為我們歷史上有過這樣的情況，但它也包括了 Plus 客戶，這只是從去年年底開始的。因此，同比比較並不是同類比較。因此，我們披露 10 萬客戶 Plus 的部分原因是因為這些客戶就像——你可以將它們視為真正的、大型的或企業客戶。因此，我會更加關注這一點。

With that said, you do see it is great to see so many companies coming on to Plus for the first time. And those are a great feeding ground to where those companies will upgrade to larger plans, use more of Amplitude over time. They're starting to be a small revenue contribution to the quarter as well. So it's all good. But yeah, it's not quite an apples-to-apples comparison with -- if you were to look a year ago. So we don't emphasize it quite as much.

話雖如此，您確實很高興看到這麼多公司首次使用 Plus。這些都是這些公司升級到更大計劃、隨著時間的推移使用更多 Amplitude 的絕佳土壤。它們也開始對該季度的收入做出很小的貢獻。所以一切都很好。但是，是的，如果你看一年前的話，這並不是一個同類的比較。所以我們不太強調它。

Awesome. Great. Thank you for that last question. With that, I'm seeing no further questions in queue. We will be at the Citigroup Global Tech Conference and Piper Sandler's Growth Frontiers Conference in September. Details will be posted on our IR website. Thank you very much for attending our 2Q earnings conference call. You may now disconnect.

驚人的。偉大的。謝謝你最後一個問題。至此，我發現隊列中不再有任何問題了。我們將參加 9 月的花旗集團全球技術會議和 Piper Sandler 成長前沿會議。詳細資訊將發佈在我們的 IR 網站上。非常感謝您參加我們的第二季財報電話會議。您現在可以斷開連線。

Thank you, everyone.

謝謝大家。

Thank you.

謝謝。

Thank you.

謝謝。