Weak guidance sends out shock wavesNewly public digital optimization firm Amplitude hopes that its earnings beat will drown out the sound of its weak guidance, but no such luck.
- The stock got cut in half on Thursday, plummeting down over 58% to hit by far its lowest price ever after reporting its second earnings since going public through a direct listing in October 2021.
- It topped estimates on both ends with a LPS of $0.20 on revenues that saw growth of 64% to hit $49.4m. Customer count is on the up and up, growing 54% to 1,597, with a net retention rate of 123%.
- Despite the beat, revenue guidance killed any potential gains. Amplitude forecast up to $51m in revenue for Q1 and up to $234m for FY2022, both of which missed expectations, but only marginally – so it’s not entirely clear why there was such a dramatic drop to follow. Though, prices did recover 20% on Friday.
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