Awesome. Thanks everyone for joining us today. My name is Scott Berg. I lead our enterprise software and SaaS research efforts here at Needham. Today with us we have Amplitude, with company CFO Andrew Casey. For those that know at least Andrew, we've had a chance to do this several times over the last five or six years.
That's true.
Always look forward to it.
I don't know if I can still say, pull off new, but, thank you for that.
Maybe not quite new, but we'll have fun with it anyways, so.
Yeah.
I guess, why don't you start off with an overview of Amplitude for those that are less familiar with the company?
All right. I'll Amplitude really had its foundations in this notion that every software application, every website, every mobile application needed an instrumentation layer that basically said how that product was being used. You know, when new features are introduced, how those new features were adopted.
If a promotion was being presented on a website, how that promotion was being engaged with. It was the layer which provided the analytic feedback at a very detailed level, what you call events, which could be about everything from, you know, how a user scrolls and how they click and how long they stay in a certain place. That detailed telemetry gives back to the builder the insights on how to best engage with their clients.
The reason that Amplitude got created was because all these businesses are increasingly trying to figure out ways in which they can digitally engage with their clients. The lack of that instrumentation layer meant they're really guessing, you know, about how well they're introducing new mobile applications, for instance, to manage a loyalty program, how well that was actually achieving the outcomes they wanted.
That's really where Amplitude started. Over the last, call it now, three years, there was a postulate that all these other ancillary aspects to that instrumentation analytics layer that were being created around Experimentation, Session Replay, Guides and Surveys, Web Analytics, all these areas, we had a postulate that they should really be part of one platform.
There was a lot of work on the engineering time to engineering organizations create those applications. As we were building the platform together, we had this vision we could start going into larger enterprises and displacing, you know, other competitors that were providing those capabilities, like a Google or an Adobe or an Optimizely or Pendo and Fullstory, and the list goes on and on and on with all these smaller point product companies that, you know, our vision was to bring analytics together in this holistic platform through which we could provide that feedback more holistically and more efficiently.
Just to pull on that thread for a second, why hasn't anyone else in the space kind of put together this real platform approach? We've done, you know, some customer checks in the space and, we published some of them obviously, is it seems like most of your customers have functionality in all of these seven, eight, or nine.
Yeah, yeah.
different applications, they're all point solutions for the most part.
That's right.
Or at least they viewed them historically that way. Why was Amplitude really the only one to do this? Even still today, most of your competitors don't pull enough of that together.
It's a really good question. I would tell you that if you look at some of like LaunchDarkly's history or Pendo's history or even Optimizely's history, they've done certain acquisitions or created certain products or they've attempted to build out the platform more effectively. I remember quite, I can't forget the name of the analytics company that LaunchDarkly bought. They bought it at a time where they were going through a lot of turmoil with CEO turnover and other things. They just didn't have the vision for where they're gonna take that forward and really create that holistic experience for customers.
I'm not saying that other competitors couldn't have done it. To your point though, they just haven't and they haven't executed well on bringing those capabilities together. I think, there was a point in time, it was shortly after I joined, where we had this vision of how the products were gonna interact with each other more effectively. For people who don't know Amplitude, I often give them analogies. You remember when browsers first came out and you'd click on a URL and it opened up a window?
I remember that.
Okay.
I was around then.
There was this company, Firefox, came out and said.
Heard of them.
This creates all this sprawl on your desktop, and you can't really find things. We're gonna organize it and we're gonna put tabs at the top of your website so that you could easily organize all those different areas you were investigating. In many respects that's what happened to the Amplitude platform. You had all these disparate products who had their own install, their own data architecture, we brought them all together.
It's very seamless for a user to understand a cohort of information that's going on, let's say, for a marketing promotion, or that they're getting feedback on escalations to their support center, and take that cohort and then run an Experiment on the code to see if it's generating the issues that are popping up. That used to take a lot of work between like an analytics engine and an Experimentation engine to go do that work. You'd have to potentially massage the data, ETL it over, and then do analysis work, and it took a long time. Well, Amplitude made that
Yeah
very seamless.
That's what our customers have said, trying to move the data in and out and back is really a pain.
Yeah.
At the end of the day, it's not quick, it's not easy. It can be done, but it's not quick and easy, and you've helped solve that for them.
Yeah.
Cool.
In all respects, that's true.
All right. Let's go back to the first. Sorry, go ahead.
Just maybe one other thing.
Yeah.
The thing that we're seeing, and this goes into maybe a question you're gonna ask a little later around, Statsig and what happened there.
Funny, that might be my next question.
One of the things that we're increasingly postulating is Amplitude is becoming this key essential layer for every piece of software or digital interaction with clients that can give you the observability and intelligence around whatever you're trying to achieve, whatever outcome you're trying to enact via that digital engagement. A lot of times it's revenue optimization.
If you don't know how that software piece or that product is interacting with your clients, then you can't optimize that engagement. You can't drive greater conversions. You can't drive improvements to your ad revenue. What we're seeing is that more and more clients are using Amplitude as that instrumentation layer. In fact, some of the most forward-leaning AI-based companies are using technology from Amplitude or Statsig in many cases to drive that feedback loop.
When Spenser, our CEO, talks about the product life cycle, circular motion where AI has increasingly allowed customers to build and ship product faster, what nobody has really addressed is the area of how do you use and learn and improve faster as well.
Sure.
Amplitude can become that layer.
Okay. Let's talk about Statsig. You kind of already gave away part of the punchline for the first question.
I know. Sorry.
No, no, that's okay. Within that ecosystem and feedback loop though is what does Statsig do that's either, A, unique to that or improves upon what you all did? As I mentioned at Andrew before he came in is I had drinks with one of the company's board members last night, and he was really impressed with the technology and helping kind of close that loop even further.
Yeah.
What does that bring you?
Let me first talk about the classic architectures today in enterprises. You've got increasingly more and more product technology, mobile applications, digital engagements happening through the cloud, but you also have an increasing amount of data aggregation into data warehouses like a Databricks or a Snowflake. Amplitude was really focused on the cloud-based environment, a very, very nascent experimentation product that was addressing data warehouse, and we didn't have a lot of integrations.
We didn't have leading technology, but Statsig did. Yeah. They're really, really good at that data warehouse architecture and driving the experimentation that's in the analysis in a data warehouse application. Increasingly, they're also really been good at feature flagging, which is how developers and engineers use to instrument their application through code.
Right? If you're good at tracking it and experimenting at that code level, it makes it's a lot of sense that that's where you start when you have that feedback loop. Like, "Hey, there's something wrong. I'm getting bad" You know, well, let's run an experiment, but you do it at that, at the code level, and you're using that application. In fact, OpenAI, one of the reasons that they wanted Statsig, and they continue to use it internally, is because the power it provides them on feedback on every user's interaction with ChatGPT.
Okay. For us, it's the foray into that long-term vision of becoming that observability and instrumentation layer, but it has its foundations with every Global 2000 increasingly driving more and more to a centralized data warehouse for control, for security, and we were not addressing that market effectively. Now we have the ability to go address that market.
Okay. Interesting product w ith the partnership as it was termed, you're essentially assuming all the contract liabilities.
Yes
The customer liabilities, right?
Yes. Mm-hmm.
A couple questions in there is outside of the contract or the customer liabilities, what other operating costs did you ultimately assume there? Because I think you talked about, you effectively have to hire some of your own developers, people to support the product.
Sure.
Does it look like really engineers are coming with this, that you're getting access to? What does that kind of, you know, how do we think about the OPEX exposure there and what you need to do to ramp to support that quickly?
I just want to expand a little bit too.
Yep
we get not just the customer base, we get the technology, and we get the brand. Everything that you would assume in a classic agreement structure of this ilk, Amplitude is getting.
Okay.
Yes, there is a period that was built in the contract where we are transitioning over from one group to another and how it run the environment. There are some nuances associated. They're running Google Cloud. We run an AWS. We have to go establish a new contract with Google.
You know, in order to house that and take the environments that they had and move them over. There is work to be done there, but we believe that that work is certainly able to be done within, you know, 30-60-day period. Staffing up engineers is something as we were going through diligence, we were already starting. The good thing is that the value proposition and the sales process, yes, there are some nuances on the technology, but it's something that our team is adept at quickly learning and assuming pipeline and working with those new customers that are coming in about cross-selling our capabilities as well.
Okay. You brought some interesting technology. The IP sounds like it's gonna be very useful to the platform. Is if you look at your customer base today, how much of the Statsig platform do you think you can actually cross-sell to that base? Is this something that every customer could effectively use, or how do you think about what that long-term growth driver looks like?
We do think that our customer base can certainly use.
Yep
especially enterprises that have data warehouse architectures. If you look at most Global 2000s, they have some aspect of that. Not all, but a lot of them do. Then we're assuming 320 brand-new customers that we think we can have, obviously cross-sell Amplitude into. We think the opportunity just in the assumed customers is hundreds of millions of dollars. Not to mention what we can go do now with the combined addressing new customers.
Okay.
You know, you've heard me say in the past that, although we are increasing our enterprise footprint as a percentage of our ARR, that has been a very focused effort. We still have only 162 G2Ks under contract.
Yeah.
That's really under-penetrated.
Yeah
the Global 2000.
Which is a great opportunity, but almost kind of crazy given the size and scale the company is today.
Correct
you know, to have a, you know, effectively, you know, 2% of that.
Yeah.
Not even, so.
Yeah.
All right. From a financials perspective, you talked about, I think, you're bringing over $16 million ARR.
That's right.
We're almost midway through the year. Not quite. We'll call it a third of the way through the year. The agreement will generate $5 million-$7 million in revenue this year. The company, in conjunction with that, brought your operating income down guidance for the year by $5.5 million . Of that $5.5 million for the year, is it safe to assume, I guess, A, all of that's related to Statsig and the agreement there? Is there any, you know, anything else driving that? B, is the write down of deferred revenue, something we just haven't seen in this space, kinda unique to this, probably not something we'll see again for a while, or, I don't know if you can have any, you know, paint any color to that.
Sure. First and foremost, I'd say the $16 million that I've indicated we're gonna book for Q2, the contract base that we're assuming didn't have the same rigor that I apply on ARR. Now, I don't, I don't annualize monthly contracts. I don't count contracts that have less than six months on them. We don't count contracts that have a T for C associated with them, or that we think they had a high propensity to churn because of the unhealthiness of them. There's a, there's a truncation of what we're actually bringing on to align to the way Amplitude actually defines.
Okay
ARR and what we expect to see in revenue. Now, you're right.
That's an important distinction.
Yeah
It could be a couple million dollars. Doesn't mean it's going away, but how you define it, that's different.
Yeah.
Yeah.
I would say I take a little bit more rigor than what they were doing. When OpenAI acquired Statsig, they'd never gone through 606 compliance.
Okay? There was a level of contract review and assessment that we had to go do. Now, you're right to point out that I was talking about $16 million of annual recurring revenue, there's only 8/12 of the year left associated with running that. Well, just by math you'll get down to, like, a $10.7 million.
Yep.
Okay. The other thing that happened is, as we were assessing what the accounting would be associated with this agreement, it ended up being considered an asset acquisition. We had to apply the purchase accounting rules associated with an asset acquisition, not a business combination.
That makes you actually take an assessment of the deferred, fair value of deferred revenues that you're assuming, which means that you write down the amount of revenue you're gonna get for the period associated with those contracts. Okay. That write down gave just to the range I gave on the $5 million-$7 million, and then you apply the expenses associated with servicing the $10.7 million-
Yep
you get to a part where it's unprofitable associated with running it during that period. Now, if I didn't have to go run that purchase accounting assessment, the fair value assessment on the deferred revenue balance, we'd already be accretive.
Okay. super important point there. It'll, it'll dissipate in a couple quarters.
Yeah.
We should see that flow up pretty quickly.
Yeah.
Okay. Excellent. Let's move to product a little bit. You know, the company in general, though, has been pretty aggressive historically for smaller, you know, tuck-in acquisitions, whether it's, you know, InfiniGrow, Crafle, Command AI, how do you think about the build versus buy conversation? Do you ultimately rewrite the applications to be on your platform instead of just integrating them? They've been small, but, you know, have seen over time sometimes they don't work as well if you don't properly integrate.
Sure
them, so.
I think at, the level of risk is lower when you're acquiring something that's smaller. That, you know, if it doesn't work out. I will tell you, Command was a great example of a company acquired, great technology, great team, nascent business, not a lot of ARR. I think they had a total of ARR, but when you'd use our rules, it was more like one.
Okay.
Since then we've, you know, almost 20x'd it, you know, on what we could do through our distribution channels. To your point, we took time, four months, to re-platform it onto Amplitude t o make sure that that experience that we were talking about earlier wasn't diminished by having a separate application outside of the platform and the ease of use. Right now we developed Experimentation.
We talked about how easy it was to move data in between analytics platform and experimentation. It's very easy to do a guide now too on that cohort that may have specifically had a support related issue and, let's say that in that example I gave, you've identified that there's a problem or a patch they need to go distribute. The guide will show them how to go do that quickly and implement it.
One thing that's been interesting with the company's product expansion in the last two years is historically Amplitude really only sold to product teams. You've moved into some other buyers.
That's right.
Selling into marketing, in particular, especially with marketing analytics is, does that convolute what the, you know, sales journey and process kind of looks like when you're dealing with multiple buyers? You know, or how do you tackle that effectively so it still remains a predictable sales cycle, but one that gives you much larger opportunity over time because you are touching more, you know, budgets?
Yeah. I think that you if there's continuous divergence between the product organization and the marketing organization, it would be more difficult, but what you find is that marketing is increasingly engaging with customers in a digital way and looking more like a product solution. In many cases as these initiatives get spun up at businesses to build up a loyalty program on their mobile application or demonstrate new promotions through a new website framework, they're trying to drive revenue. Like The Economist was a great example. They moved from pure print subscription to online subscription.
You know, that type of radical change where digital engagement's a really important instrument, those are the types of where of sales where marketing and product are both getting involved into the purchase process and understanding the value propositions. Where you are more classic companies that don't have, like, a holistic view of it, you still have different budgets potentially and different engagements going on. It's our view that those increasingly become more and more aligned, and that we're gonna be adding, you know, more personas who are involved in that discussion with the data owners, the people who are responsible for the architecture, which would include now the CIO, IT organizations who manage the data warehouses.
Okay. One of the things, those that maybe haven't followed my coverage of the company, I picked up coverage a little more than a year ago, we'll call it a year and, I don't know, two or three months ago is, we obviously took a kind of a fresh look at the company maybe than someone that's done it for, you know, a couple, three years. The one thing that really, it was interesting is your expansion into kind of these marketing budgets. It's actually a much larger area of spend-
Yeah. That's right.
around these technologies than core product analytics.
That's right.
Doesn't mean core product analytics can't be that large at some point, but you really are tapping into some larger dollar opportunity today.
Yeah. By the way, Scott, I know you know this, but maybe other people don't. Back when I was at ServiceNow and we were very much an IT related solution, we had to go through this same journey of appealing to different buyers associated with what was largely viewed as an IT service management platform. We had a larger vision of becoming the broader service oriented architecture for the enterprise.
I would tell you Amplitude has similar types of beliefs that we can be this much more important instrumentation and observability layer in every piece of software that's out there. The vision is hard to see in the connecting the dots going forward sometimes. The reality is some of these things around selling to multiple personas is actually the way through which you establish that vision.
Okay. Well, just for the record, I hope you're at least half that successful.
Me too.
Very much so. Well let's talk about AI agents. AI agents are, I think, interesting on your platform for two different reasons, is one, how are you guys approaching agents today on your own platform for use with your customers? The follow-up question on that is, we did a demo with you guys about a month ago, a month and a half ago, and you talked about some new AI agent functionality where you're actually, you know, have the ability to manage what third party agents are doing.
Yeah.
It's kind of two very different agent, you know, kind of themes in there, but help us understand kinda what you're doing in both of those and why this big craze around agents in general within the enterprise actually can be a really big sales opportunity for you?
Yeah. I think look, if you take a step back, agents are just software itself, and you wanna make sure that when you're deploying the software, that it's actually doing the things you intended it for, to do. It's not just agent to human interaction, it's agent to agent interaction as well. You have agents managing agents, and all of that is what I would call observability, you know, and how those things are working. That's what Amplitude effectively does with mobile applications and websites and kiosks and every other aspect of any software or digital engagement.
For us, the platform itself has what we call, I'll call it, foundational agents. The ones that, you know, are the interface now. You know, how you can ask Amplitude directly through a command line interface to generate insights into, "I wanna know why our promotional program didn't generate as many customer adoptions." You know, it'll give you back some analysis based on the data that's there.
There are more customized agents, the ones that work on Experimentation, where you can just set an agent with a set of parameters, and they run continuous experiments on your customer base or your data, and those then provide you insights, or a session replay agent that can take all these video sessions and summarize the basic impact so that saves engineering time from not having to review thousands of replays. It can summarize it. Agents do that really well, taking large sets of data and summarizing it out.
The one, the foundational agent I was talking about some of the things that Amplitude could do with all our other applications, and we brought it, and I'll talk about it if you want on pricing and packaging, but we brought down paywalls and a lot of the inhibitors and gave customers the ability to migrate or taste, if you will, other aspects of the platform. Those agents actually, they really exemplify the power of using the modules together.
A customer might get an automated insight that's a foundational agent and ask them, "Would you like to run an Experiment?" "Well, yeah." "Well, okay, the agent's already picked up the Experiment for you. It's running it for you.
Would you like to take that cohort of customers that's identified for this purpose and send a Guide? The agent can now run the Guide for you and give you the feedback on it. The good thing is there's a, like I said, I'll call it the foundational AI 1s that are embedded within the platform, and then these other 1s that are based on our modules. At some point, customers who really like the taste, they're gonna run out and if they want to continue it, they're gonna have to buy.
Yeah.
The modules themselves are, there's a number of 'em that are agentic that are for fee. Our AI assistant, our agentic analytics, we're about ready to announce UX Experimentation. You know, these are all AI based, and they are for fee. We feel certainly that as more customers adopt our agentic capabilities, we're gonna have both an increase in data that they're using within the platform, as well as a high propensity to want to use the other modules that we're charging for.
What I think was interesting about that, I asked Spenser, I can't remember if it was after the Q4 call or since then, You know, the expanded use is driving more democratization of the data.
Yeah.
Can get more customer, you know, more employees to use it, obviously gets embedded. To your point though, they also get to try more solutions.
Yeah.
If they're trying more aspects of it, there is obviously great economic value to you guys.
Yeah
over a period of time. yeah, kind of interesting there.
Yeah.
Give them a taste, and hopefully they come back and actually want it.
I think that the other thing we did that just exemplifies that was the pricing and packaging change, where we really simplified what was a very complex menagerie of different meters and price points, and the quoting process was very cumbersome for our sales team, and customers didn't really understand what, you know, they were gonna be paying for versus the value that they were getting.
Now we've really simplified a lot of that, and it's there were several times in Q1 where we got We call it a win wire, but you see a new customer adopting Amplitude, and they actually cited, "I really liked the new pricing and packaging. It gave me confidence that Amplitude is gonna shepherd me along my journey in the adoption phase. I think we've done a lot of homework on that. We feel very good about the initiation of it. I know people called out that that's always a risk, I would say, no doubt, I think we've done our homework and it's gonna be very positive for us.
Yeah. Let's take a step back. A very prevalent item on your Q1 call is trying to run faster and be more of an AI company. Trying to transition as quickly as you can. It was very apparent on your call, very apparent in my call back with Spenser, at least, on how quickly he wants to run. That desire has caused you guys to change a couple senior leadership positions.
Not just one, but two, high-level ones that I know of. Help us understand what that journey looks like now for the company. Is it, I don't know, is the leadership transition done? Maybe it's never, you know, fully done. What else are you doing kind of underneath the covers, either from the product or the culture side, to drive that speed that he clearly is focused on today?
Just to be clear, I have no intention of going anywhere, Scott.
Okay, good.
So-
I did already ask you that question once. To be clear.
You were alluding to other changes coming.
No, no.
I just wanted to be clear. Look, I think that Spenser sees that this is a race to be relevant in a space that is quickly evolving, and that you have to be willing to make the changes that are necessary to adapt to what is the new opportunities. In some cases, you know, the changes that were necessary on the product side were ones that he did, you know, started back in, I'll call it the October timeframe, culminated with Gab coming on as our new Chief Product Officer, which he's also from ServiceNow, which you can imagine Gab and I have a lot of things in common on how we think about the customer interaction.
On the sales side, I would tell you've heard me talk a lot about the sales and marketing expense as a percentage of revenue is too high, and we need to go drive it down. One of the ways structurally we can drive it down is by driving greater accountability of the sales team with respect to customer success.
I tend to have more of a philosophy that's akin to the ServiceNow notion, that customer success is not an organization, it's a mentality that everybody in the company has to have. By having two different sort of organizations, you have plausible deniability about who is actually responsible for driving the customer outcome and that just was no longer tenable for Spenser or I. Was it optimal timing? There's never a great time.
Was it, you know, was there a lot going on? Is it valuable to say, "Hey, all the things happen at the same time, that can cause disruption?'' Sure, invariably it will. I think if we're not moving fast enough to make the changes we think are necessary for the long-term growth and viability for Amplitude, then we'd be doing a disservice to our employees and our customers. I know that Spencer talks about moving fast and that, and in many respects, maybe you think it's, he's not considering, you know, some of those things. I think he considers it very deeply, that, we have an opportunity to go after, and we, it is ours to seize if we move quickly.
You know, in my call back, we had a good discussion point about that around the speed and whatnot, and one of the things I always look for is around what the impact of the disruption's gonna be and the duration of that impact is. You were pretty clear. Yeah, there was some, you know, disruption to sales and you kind of just reiterated that. Obviously, it's gonna be natural when you make that type of leadership change. Does the duration of that disruption, does it last into Q2, Q3, Q4? How do you think about how quickly that gets contained and you're actually operating at that improved pace that you're thinking about?
Yeah, I think that, look, you always have a little bit. I don't think the notion of, "Hey, this is gonna take a year." Like, no. No way. We are gonna act very quickly on some of the changes that were necessary. Look, part of the part of this too was even I assumed greater responsibilities associated with the operations of the company.
You know, that means that all of us just have a greater degree of accountability, making sure we're delivering value for our customers. I expect we're gonna be moving quickly to back to a very rigorous focus on the sales process, and making sure that things we introduce as new products, customers really understand the value.
Okay. I'm gonna ask one more question and then we'll leave some time to open it for audience Q&A. Just wanna pick the right one here. No, 'cause I got If you see my question sheet, I have 20-
If you had one thing to change, what would you do?
No. All right, ARR. One of the things I think that's been interesting is you're one of the few companies, Amplitude's been one of the few companies in my software space over the last year and a half, that's actually seen some acceleration in its ARR growth rate.
Yeah.
There's a couple different drivers that you've talked about that before. The company's goal has been to get back to a 20% revenue growth level, and that's not the end target as Spenser likes to talk about. He thinks that there's opportunities to grow at 25% or maybe 30% of the business.
Sure.
ARR in the last quarter grew, I believe it was 17%, 16.9%, correct me if I'm wrong.
Yeah.
You're getting close to that, and that was even with some disruption in the quarter.
Yeah.
What are the drivers to get back and stay, you know, at that sustainable 20% level for a period of time? Now that you're almost two years into the role and what you've seen and from the product side and all the changes, has it changed your belief on your ability to get there and what does that look like?
Yeah, I no change in my belief, I think with the added products in our portfolio, it even gets more exciting. Look, there were two major things that you have to understand about Amplitude's growth over the last. The acceleration from what was 6%, I think when I joined, to 17% now, was really the ability for us to execute on two major strategies. First was appealing more and more to enterprises, there's a lot of goodness that comes from appealing to enterprises. Everything from contract duration, which shows up in RPO, to higher net dollar retention rate versus-
you know, SMB mid-market customers. The other major strategy was executing on a multi-product platform strategy. The product side was one I will point back to to say was just phenomenally successful at driving consolidations. We had headwinds during this time of remediating poor contract structures before where there was overselling.
Yeah.
There's two major ways in which Amplitude monetizes the services we deliver. First is through the data ingestion into the platform. That's the upsell. A customer agrees on analytics, and they agree at a certain level of volume. If they continue to deploy us, let's call it across multiple applications they have, that event volume goes up, okay? We would invariably charge more for that if, once they move ahead of their entitlement. The other is we add on products to that analytics base. The more we can add on additional products, the more we can drive a higher and higher footprint within clients or even crack more clients.
Both those have done very, very well, and we're pretty much past a lot of the overselling the capacity issues. Now, what was a growth generated predominantly through cross-sell, now we can see an upsell variant as well adding to that. I would say we're not slowing down on the product side.
Okay.
I think there's a chart which John, who leads our IR, has created in our investor package, and it shows how well our ARR has progressed in two products, plus three products, four products, five products. We were joking that with the new products that are coming out, he's gonna have to change that last tranche to, you know, greater than, you know, five products. Maybe it has to be six to eight.
Yeah.
Six to eight or, you know, greater than 10 at some point. That, that motion, those two motions I think are executing well from a growth perspective. I go back to what I said. The confidence is we have actually a whole set of new customers and product through Statsig partnership, plus a number of new products we're introducing.
With that, happy to open it to the audience for a couple questions. We got about four or five minutes. It's been a quiet audience in all of my fireside chats today.
Okay. All right.
This is not unusual today.
It's not just me?
Maybe it's the weather. Well fair enough.