Russia Impact on Financials
Q: How did the Russia impact affect revenue and operating income?
A: The Russia impact led to lost revenue and a large bad debt component due to aged receivables, affecting both operating expenses and revenue. Despite this, the company raised revenue guidance because it believes it is in a fundamentally different place, having beaten expectations for the first half of the year, which will naturally flow through to the full year.

Enterprise Demand and Pipeline
Q: What changes are you seeing in enterprise customer demand?
A: Amplitude is seeing strength in the U.S. enterprise business with larger deals in the pipeline. The customer base now includes more traditional companies like quick-serve restaurants and healthcare systems, a shift from three to four years ago. Changes in go-to-market strategy, such as the named account structure focusing on 12,000 accounts, are bearing fruit despite macro challenges. New business demand remains strong.

Warehouse-Native Analytics with Snowflake
Q: How does Warehouse-native analytics impact customers?
A: Warehouse-native analytics simplifies implementation by allowing customers to run SQL queries directly on their cloud data warehouse, particularly with Snowflake, eliminating the need for separate data pipelines. This reduces implementation costs and eases adoption, especially for larger companies with significant investments in cloud data warehouses. It opens access to a new customer base and is considered a key differentiator in the market.

Growth Despite Macro Challenges
Q: How are you planning for growth amid macro challenges?
A: The path to reacceleration is not dependent on macro improvement. Go-to-market adjustments, such as focusing on enterprise accounts and adopting a named account structure, have had a massive impact. By halving the number of targeted accounts to 12,000, execution has improved significantly, setting up the company for growth even if macro conditions remain challenging.

Market Consolidation and Competitive Advantage
Q: Are you seeing opportunities from market consolidation?
A: Yes, the tough macro environment is driving customers to consolidate vendors, seeking lower total cost of ownership and integrated platforms. Amplitude's vision of offering an integrated suite, including analytics, experimentation, and session replay, aligns with this trend. Customers prefer not to use point solutions and are moving to Amplitude's platform, which is considered a leader by Forrester.

Session Replay Product Adoption
Q: How is the Session Replay product performing?
A: Since its launch in Q1, Session Replay has been the fastest ramp among additional products outside of analytics. Customers using Amplitude's analytics are eager to consolidate from standalone session replay vendors to Amplitude's integrated solution, benefiting from lower total cost of ownership and enhanced workflows. The product offers cost savings of about 50%, making Amplitude a lower-cost provider.

New Platform Launch in September
Q: What opportunities does the new platform launch create?
A: The new Amplitude platform launching in September aims to reduce implementation friction, allowing customers to get value quickly with just one line of code and pre-built dashboards. This opens analytics to a new set of companies that struggled with cumbersome processes, accelerating customer acquisition and engagement without any pricing changes. Early indicators show a 40–50% increase in data activation and more engagement in Session Replay and experimentation.

Net Revenue Retention and Growth Outlook
Q: Can you explain the NRR contraction and future growth expectations?
A: NRR has contracted to the mid-90s, as expected, due to contract optimizations and the Russia impact. A headwind is anticipated in Q3 from Russia as well. However, the company believes it is in a fundamentally different place to reaccelerate growth, which is within reach.

International Strategy and Named Accounts
Q: How does the named account strategy apply internationally?
A: The named account approach is applied globally, focusing on Tier 1 markets like the UK, France, Germany, Japan, Korea, Canada, and Brazil, with enterprise sellers targeting the same 12,000 named accounts. This strategy aims to replicate the success seen in the U.S. in international markets.

Customer Count Growth and Metrics
Q: How are you driving growth in customer count?
A: The growth in customer count includes Plus customers introduced at the end of last year, serving as a feeding ground for future upgrades to larger plans. While these customers contribute a small but growing revenue portion, the focus remains on larger enterprise customers. Year-over-year comparisons aren't apples-to-apples due to this inclusion.