Why Amplitude Stock Was Pulling Back Today
Shares of Amplitude (NASDAQ: AMPL) were falling today after the digital-optimization software company edged out estimates in its fourth-quarter earnings report but missed the mark with its guidance. As of 3:15 p.m. ET, the software stock was down 11.7% on the news.
Amplitude, which helps companies analyze and improve their digital products, delivered solid results in the fourth quarter with revenue up 32% to $65.3 million, ahead of the consensus at $63.6 million. It grew its customer base by 25% to 1,994, adding 81 new customers in the quarter.
Customers with more than $100,000 in annual recurring revenue also increased 25% over the last year to 480. And Amplitude posted a dollar-based net retention rate of 119%, showing existing customers grew their spending by 19% over the last four quarters.
Source Fool.com
