Amplitude shares tumbled nearly 40% in premarket trading.
Amplitude’s fourth-quarter revenue rose to $49.4 million from $30.1 million and came in ahead of the FactSet consensus, which was for $47.0 million. Helping fuel that growth was expansion in Amplitude’s customer count, which rose to 1,597 from 1,417 a quarter earlier, as well as increased adoption of the company’s newer products.
Though Amplitude beat expectations with its fourth-quarter revenue, the company fell short with the top-line forecasts it offered for both the first quarter and the whole of 2022. Amplitude expects $50 million to $51 million in first-quarter revenue, whereas analysts had been expecting $51.3 million, and it projects $226 million to $234 million in full-year revenue, while analysts were anticipating $235.8 million.
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