Amplitude Announces Search for New Chief Financial Officer; Reaffirms Financial Guidance for the Second Quarter and Full Year of 2024

Rhea-AI Summary

Amplitude (Nasdaq: AMPL), a top digital analytics platform, announced the departure of Chief Financial Officer Christopher Harms, effective immediately. The company stated that the departure was not due to any disagreement over accounting or financial practices. Amplitude has begun searching for a new CFO. Despite this change, the company reaffirmed its financial guidance for Q2 and the full year of 2024, as highlighted in its May 9, 2024 earnings release.

Positive

• Amplitude reaffirmed its financial guidance for Q2 and the full year of 2024, indicating confidence in its financial stability.
• The departure of CFO Christopher Harms was not due to any disputes over accounting or financial practices, reducing concerns over potential internal issues.

Negative

• The sudden departure of CFO Christopher Harms may cause temporary volatility and uncertainty in the company's stock.
• The search for a new CFO introduces a period of leadership instability, which could impact investor confidence.

SAN FRANCISCO--(BUSINESS WIRE)-- Amplitude, Inc. (Nasdaq: AMPL), a leading digital analytics platform, today announced that Christopher Harms is no longer serving as the Chief Financial Officer and principal financial and accounting officer of Amplitude, effective today. Mr. Harms’ departure from the Company is not the result of any dispute or disagreement with the Company’s accounting principles or practices or financial statements and disclosures.

The Company has initiated a search for Mr. Harms’ replacement.

Additionally, the Company is reaffirming its financial outlook for the second quarter and full year of 2024 as described in its earnings release on May 9, 2024.

About Amplitude

Amplitude is a leading digital analytics platform that helps companies unlock the power of their products. Almost 3,000 customers, including Atlassian, NBCUniversal, Under Armour, Shopify, and Jersey Mike’s, rely on Amplitude to gain self-service visibility into the entire customer journey. Amplitude guides companies every step of the way as they capture data they can trust, uncover clear insights about customer behavior, and take faster action. When teams understand how people are using their products, they can deliver better product experiences that drive growth. Amplitude is the best-in-class analytics solution for product, data, and marketing teams, ranked #1 in multiple categories in G2’s Spring 2024 Report. Learn how to optimize your digital products and business at amplitude.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240524863890/en/

Investor Relations

Yaoxian Chew

ir@amplitude.com

Communications

Darah Easton

press@amplitude.com

Source: Amplitude, Inc.

FAQ

Why did Amplitude's CFO Christopher Harms leave?

Christopher Harms left Amplitude, but the departure was not due to any disagreements over accounting or financial practices.

What is Amplitude's financial outlook for 2024?

Amplitude reaffirmed its financial guidance for the second quarter and the full year of 2024, as previously described in its May 9, 2024 earnings release.

What is Amplitude's stock symbol?

Amplitude's stock symbol is AMPL.

How is Amplitude handling the CFO transition?

Amplitude has initiated a search for a new CFO following the departure of Christopher Harms.