Amplitude leaps above reference price on debut
28/09/2021 16:59
** Digital optimization software provider Amplitude Inc
AMPL.O opens at $50 vs Nasdaq-set reference price of $35
** AMPL valued at approx $5 bln at the opening price
** San Francisco-based firm, which opted for a direct
listing vs traditional IPO route to public markets, was valued
at $4 bln in a June funding round
** In Q3 (through Sept 10), co's shares traded privately in
range of $21-$43.57 for VWAP of $35.41, based on ~102.8 mln
shares outstanding, per SEC filing https://www.sec.gov/Archives/edgar/data/1866692/000119312521284799/d143868d424b4.htm
** Co's software enables customers to optimize their
products by analyzing features that translate to better business
outcomes
** Last week, AMPL said Q2 rev grew 66% yr/yr to $39 mln,
and paying customers number increased by 51% to 1,280
urn:newsml:reuters.com:*:nBw88vZcra
** Co provided current qtr and the full-year guidance, the
latter projecting 57% yr/yr growth in rev to $161 mln (at the
midpoint) and non-GAAP loss of 46-50 cents/sh. It also expects
full-year 2022 rev to grow >40%
** Morgan Stanley, BofA, Citigroup, KeyBanc, Baird, UBS and
William Blair acting as financial advisors to AMPL
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))