Amplitude CFO Departure and Financial Guidance Reaffirmed

Amplitude, Inc. (Nasdaq: AMPL) has announced the departure of Christopher Harms as the Chief Financial Officer and principal financial and accounting officer, effective May 24, 2024. The company has initiated a search for a replacement. Despite this change, Amplitude reaffirms its financial guidance for the second quarter and full year of 2024, as outlined in its earnings release on May 9, 2024.

Amplitude, a leading digital analytics platform, serves nearly 3,000 customers, including Atlassian, NBCUniversal, Under Armour, Shopify, and Jersey Mike’s. The company's self-service visibility into the entire customer journey is trusted by product, data, and marketing teams, with the goal of delivering better product experiences that drive growth.

In the context of this announcement, it's important to note that Amplitude had previously shared its financial outlook for the second quarter and full year of 2024 in its earnings release on May 9, 2024. For further details on how the company's finances have evolved, it would be beneficial to compare the current metrics with those provided in the earlier earnings release. The market has reacted to these announcements by moving the company's shares 3.4% to a price of $9.75. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.

IN FOCUS