Amplitude (AMPL) AI Stock Analysis

• Market Cap: $913.69M
• Dividend Yield: N/A
• Average Volume (3M): 2.11M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.41
• Revenue Growth: 12.78%
• EPS Growth: -20.47%
• Country: US
• Employees: 740
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 0.04
• Shares Outstanding: 104,143,560
• 10 Day Avg. Volume: 3,450,797
• 30 Day Avg. Volume: 2,111,313
• PEG Ratio: 1.46
• Price to Book (P/B): 6.23
• Price to Sales (P/S): 4.45
• P/FCF Ratio: 54.19
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 2.44
• Enterprise Value/Gross Profit: 3.30
• Enterprise Value/Ebitda: -10.01
• 1Y Price Target: $12.78
• Price Target Upside: 87.12% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): 0.11
• Revenue Forecast (FY): $395.08M

• Rating: 57 Neutral
• Price Target: $6.50 ▼(-4.83% Downside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is held back primarily by weak technicals (price below key moving averages, negative MACD) and ongoing GAAP unprofitability despite improving cash flow. Offsetting these, financial risk is reduced by low leverage and positive free cash flow, and the latest earnings call was constructive with improving ARR/retention and guidance for FY2026 non-GAAP profitability; valuation support is limited due to the negative P/E and no dividend yield provided.

Positive Factors

High gross margins

Sustained ~74% gross margins indicate durable unit economics typical of successful SaaS product-intelligence platforms. High gross margins support scalable operating leverage, fund R&D and go-to-market investment without immediate margin erosion, and provide a buffer as the company pursues enterprise deals and product expansion.

Positive and growing free cash flow

A clear turn to positive operating and free cash flow is a durable financial inflection: it reduces financing dependence, enables buybacks/M&A and sustained R&D, and shows improving cash discipline. Persistent FCF supports strategic optionality even while GAAP profitability lags.

ARR growth, retention and AI product traction

Accelerating ARR, >100% dollar retention and rising multi-product adoption point to stronger customer stickiness and bigger lifetime value—structural drivers of recurring revenue. Early agentic AI traction enhances product differentiation and can increase usage and expansion over multiple quarters when operationalized.

Negative Factors

Negative net margin and decelerating revenue growth

Ongoing GAAP unprofitability and slowing top-line growth are durable concerns: losses depress ROE and limit capital returns, while decelerating revenue raises the bar on execution to scale fixed costs. Until sustained positive operating margins are achieved, the business remains exposed to capital and margin risk.

Back‑end loaded bookings and reliance on smaller expansions

Growth that relies on numerous smaller new logos rather than large expansions increases lumpiness and lowers visibility into future ARR expansion. Durable revenue growth depends on successful cross‑sell/expansion into existing accounts; slower or smaller expansions risk weaker long‑term revenue capture and margin leverage.

Competitive pressure from large data/platform players

Structural competition from major cloud/data platform vendors can compress pricing, force feature parity battles, and prompt customers to consolidate tooling. Amplitude must continuously differentiate via integrations, product depth and enterprise GTM to protect ARR and margins over multiple quarters.

Amplitude Business Overview & Revenue Model

Company Description

Amplitude, Inc. provides a digital optimization system to analyze customer behavior within digital products in the United States and internationally. It offers Amplitude analytics for insights of customer behavior; Amplitude Recommend, a no-code personalization solution that helps to increase customer engagement by adapting digital products and campaigns to every user based on behavior; Amplitude Experiment, an integrated solution that enables teams to determine and deliver the product experiences for their customers through A/B tests and controlled feature releases; Amplitude Behavioral Graph, a proprietary database for deep, real-time interactive behavioral analysis, and behavior-driven personalization – instantly joining, analyzing, and correlating any customer actions to outcomes, such as engagement, growth, and loyalty; and data management, a real-time data layer for planning, integrating, and managing data sources to create a foundation with identity resolution, enterprise-level security, and privacy solutions. The company also provides customer support services related to initial implementation setup, ongoing support, and application training. It delivers its application over the Internet as a subscription service using a software-as-a-service model. The company was formerly known as Sonalight, Inc. and changed its name to Amplitude, Inc. in December 2014. Amplitude, Inc. was incorporated in 2011 and is headquartered in San Francisco, California.

How the Company Makes Money

Amplitude generates revenue through a subscription-based model, wherein customers pay for access to its analytics platform based on the volume of data processed and the features utilized. The company offers several pricing tiers, catering to different business sizes and needs, which include free trials and premium plans with advanced capabilities. Key revenue streams include subscription fees from various packages, additional charges for higher data limits, and professional services such as training and consulting. Significant partnerships with major technology firms and integrations with popular software tools further enhance its offering, attracting a diverse clientele and contributing to its earnings.

Amplitude Financial Statement Overview

Summary

Strong and stable gross margins (~74%+), very low leverage (debt-to-equity ~0.03), and a clear turn to positive TTM operating cash flow (~$29.8M) and free cash flow (~$24.9M). Offsetting this, revenue growth has decelerated and profitability remains weak (TTM net margin about -25.8% and negative ROE), so earnings execution is still the main gap.

Income Statement

Revenue continues to grow, with TTM (Trailing-Twelve-Months) revenue up 4.0% and a multi-year expansion from 2020 to 2024, but the growth rate has decelerated meaningfully versus earlier years. Gross margin remains strong and stable around ~74% in recent periods, indicating healthy unit economics. However, profitability is still a key कमज कमज: TTM (Trailing-Twelve-Months) net margin is about -25.8% (improved from -31.5% in 2024), and operating losses remain sizable, showing the model has not yet scaled to consistent earnings.

Balance Sheet

The balance sheet is conservatively levered, with very low debt (TTM (Trailing-Twelve-Months) debt-to-equity ~0.03), which reduces financial risk and provides flexibility. Equity remains solidly positive, though it has trended down from 2024 to TTM (Trailing-Twelve-Months), consistent with ongoing losses. Returns to shareholders remain negative (TTM (Trailing-Twelve-Months) return on equity about -36.7%), highlighting that strong capitalization has not yet translated into profitability.

Cash Flow

Cash generation has improved materially: TTM (Trailing-Twelve-Months) operating cash flow is positive (~$29.8M) and free cash flow is positive (~$24.9M), a clear step up from earlier periods that included negative free cash flow. Free cash flow growth in TTM (Trailing-Twelve-Months) is very strong (+80.5%) off a lower prior base, and free cash flow remains sizable despite net losses, indicating better cash discipline. The main weakness is that operating cash flow still covers only a modest portion of the income-statement loss (coverage ~0.18), so profitability and cash generation are not yet fully aligned.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	343.21M	299.27M	276.28M	238.07M	167.26M
Gross Profit	253.93M	222.35M	204.36M	167.63M	115.50M
EBITDA	-75.73M	-101.28M	-88.76M	-91.90M	-71.06M
Net Income	-88.54M	-94.32M	-90.36M	-93.38M	-74.98M
Balance Sheet
Total Assets	420.68M	445.91M	433.68M	413.75M	400.39M
Cash, Cash Equivalents and Short-Term Investments	192.00M	241.10M	322.40M	230.47M	307.44M
Total Debt	6.88M	5.58M	8.18M	11.09M	0.00
Total Liabilities	175.34M	149.35M	138.93M	118.79M	93.84M
Stockholders Equity	245.35M	296.56M	294.75M	294.97M	306.55M
Cash Flow
Free Cash Flow	28.20M	11.73M	22.45M	-11.19M	-34.94M
Operating Cash Flow	29.82M	18.51M	25.63M	-5.38M	-31.71M
Investing Cash Flow	-55.08M	-75.37M	9.32M	-89.39M	-1.50M
Financing Cash Flow	-65.33M	-19.94M	-4.94M	5.83M	222.64M

Amplitude Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.83
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMPL, the sentiment is Negative. The current price of 6.83 is below the 20-day moving average (MA) of 7.66, below the 50-day MA of 9.69, and below the 200-day MA of 10.96, indicating a bearish trend. The MACD of -0.89 indicates Negative momentum. The RSI at 34.33 is Neutral, neither overbought nor oversold. The STOCH value of 46.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AMPL.

Amplitude Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CXM	73 Outperform	$1.30B	12.51	21.35%	―	6.48%	168.94%
SEMR	69 Neutral	$1.79B	-384.04	-1.68%	―	19.87%	-136.93%
PD	62 Neutral	$586.45M	3.99	70.46%	―	7.01%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SPT	61 Neutral	$400.85M	-8.37	-26.69%	―	13.09%	32.34%
AMPL	57 Neutral	$913.69M	-10.17	-32.68%	―	12.78%	-20.47%

Amplitude Corporate Events

Amplitude Announces Leadership Transition and Reaffirms 2026 Outlook

On February 24, 2026, Amplitude announced that President Thomas Hansen will leave his role effective March 31, 2026, but will remain as an advisor through April 1, 2027 to support continuity and a smooth transition. The company said Hansen’s departure is not due to any dispute, and current Chief Revenue Officer Nathaniel Crook will become Amplitude’s first Chief Commercial Officer, taking on many of Hansen’s responsibilities.

In the same announcement on February 24, 2026, Amplitude reaffirmed its financial outlook for the first quarter and full year of 2026, signaling management’s confidence in the company’s current trajectory despite the leadership change. The combination of a planned advisory period and a defined successor for key commercial duties is intended to limit operational disruption and reassure investors and customers about stability in the company’s go-to-market strategy.

The most recent analyst rating on (AMPL) stock is a Hold with a $9.00 price target. To see the full list of analyst forecasts on Amplitude stock, see the AMPL Stock Forecast page.