Amplitude Inc Class A (AMPL)
NASDAQ:AMPL
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Amplitude
(NASDAQ:AMPL)
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Rating:53Neutral
Price Target:
$6.50
▼(-6.88% Downside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weak technicals (price below all key moving averages) and ongoing GAAP profitability issues despite healthy margins and low leverage. Offsetting those, the latest earnings call provided a more positive forward setup with ~17% revenue-growth guidance, improving retention/enterprise signals, and a projected move to positive full-year non-GAAP operating income, though margin and integration costs remain near-term headwinds.
Positive Factors
High Gross Margins
Sustained gross margins near 70–74% indicate durable product economics for a SaaS analytics platform. High gross margins create room to invest in R&D and go-to-market while supporting operating leverage as revenue scales, making profitability achievable as cost structure normalizes.
Negative Factors
Ongoing GAAP Losses and Weak ROE
Persistent GAAP losses and a deeply negative ROE reflect that operating profitability hasn't been regained. Continued losses dilute shareholder value and mean management must sustain cost discipline and margin improvements for several quarters to convert strong product economics into durable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margins
Sustained gross margins near 70–74% indicate durable product economics for a SaaS analytics platform. High gross margins create room to invest in R&D and go-to-market while supporting operating leverage as revenue scales, making profitability achievable as cost structure normalizes.
Read all positive factors
Amplitude Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyAmplitude (AMPL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$865.00M
Dividend YieldN/A
Average Volume (3M)2.33M
Price to Earnings (P/E)―
Beta (1Y)1.41
Revenue Growth16.36%
EPS Growth10.40%
CountryUS
Employees740
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.67
Shares Outstanding103,867,090
10 Day Avg. Volume2,988,543
30 Day Avg. Volume2,329,397
Financial Highlights & Ratios
PEG Ratio1.46
Price to Book (P/B)6.23
Price to Sales (P/S)4.45
P/FCF Ratio54.19
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue2.27
Enterprise Value/Gross Profit3.09
Enterprise Value/Ebitda-9.68
Forecast
1Y Price Target
$9.72Price Target Upside39.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)0.06
Revenue Forecast (FY)$399.95M
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 p...
How the Company Makes Money
Amplitude primarily makes money by selling subscriptions to its software platform (software-as-a-service). Customers pay recurring fees to access Amplitude’s analytics capabilities, with pricing typically scaling based on factors such as product e...
Amplitude Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call presented solid commercial momentum and clear strategic direction: 17% YoY revenue and ARR growth, improving net retention (106%), accelerated multiproduct adoption, and a high-profile strategic move to bring Statsig customers and capabilities into Amplitude. Management emphasized aggressive AI transformation (new AI products, >90% code aided by AI, leadership hires) and cited concrete customer outcomes. Near-term challenges center on higher inference costs compressing gross margin (75%, down 2 points), negative free cash flow, modest operating loss, and integration and transition costs tied to Statsig and organizational changes. Overall, the upside from product innovation, strong ARR/expansion metrics and a credible path to monetize AI-driven usage outweigh the near-term margin and execution risks.Positive Updates
Revenue and ARR Growth
Q1 revenue of $93.5M (reported also as $94M) grew 17% year-over-year. Total ARR exited Q1 at $374M, also up 17% year-over-year and up $9M sequentially.
Negative Updates
Gross Margin Compression from Inference Costs
Gross margin was 75% in Q1, down 2 percentage points year-over-year, driven largely by higher-than-expected AI inference costs as customers adopt AI tools and increase data ingestion.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue and ARR Growth
Q1 revenue of $93.5M (reported also as $94M) grew 17% year-over-year. Total ARR exited Q1 at $374M, also up 17% year-over-year and up $9M sequentially.
Read all positive updates
Company Guidance
Amplitude guided Q2 2026 revenue of $96.9M–$99.1M (≈18% y/y at the midpoint), non‑GAAP operating income of negative $3.6M to negative $1.6M, and non‑GAAP net income per share of negative $0.02 to negative $0.01 (assuming ~134M basic shares); for full‑year 2026 it guided revenue of $397M–$403M (≈17% y/y at the midpoint), which assumes a $5M–$7M FY contribution from the Statsig business (while initially recording an incremental $16M of Statsig ARR on integration), full‑year non‑GAAP operating income of $2.5M–$6.5M, and non‑GAAP EPS of $0.03–$0.06 on ~145.1M fully diluted shares, noting near‑term gross‑margin pressure from higher inference costs and integration/hosting investments tied to AI adoption and the Statsig transition.Amplitude Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
74
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 356.75M | 343.21M | 299.27M | 276.28M | 238.07M | 167.26M |
| Gross Profit | 262.46M | 253.93M | 222.35M | 204.36M | 167.63M | 115.50M |
| EBITDA | -83.68M | -75.73M | -101.28M | -88.76M | -91.90M | -71.06M |
| Net Income | -89.58M | -88.54M | -94.32M | -90.36M | -93.38M | -74.98M |
Balance Sheet | ||||||
| Total Assets | 401.74M | 420.68M | 445.91M | 433.68M | 413.75M | 400.39M |
| Cash, Cash Equivalents and Short-Term Investments | 181.93M | 192.00M | 241.10M | 322.40M | 230.47M | 307.44M |
| Total Debt | 6.60M | 6.88M | 5.58M | 8.18M | 11.09M | 0.00 |
| Total Liabilities | 184.44M | 175.34M | 149.35M | 138.93M | 118.79M | 93.84M |
| Stockholders Equity | 217.31M | 245.35M | 296.56M | 294.75M | 294.97M | 306.55M |
Cash Flow | ||||||
| Free Cash Flow | 22.13M | 28.20M | 11.73M | 22.45M | -11.19M | -34.94M |
| Operating Cash Flow | 26.24M | 29.82M | 18.51M | 25.63M | -5.38M | -31.71M |
| Investing Cash Flow | 13.45M | -55.08M | -75.37M | 9.32M | -89.39M | -1.50M |
| Financing Cash Flow | -84.25M | -65.33M | -19.94M | -4.94M | 5.83M | 222.64M |
Amplitude Technical Analysis
Neutral
6.98
Price Trends
6.76
Negative
7.75
Negative
9.29
Negative
Market Momentum
-0.14
Negative
50.59
Neutral
84.80
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMPL, the sentiment is Neutral. The current price of 6.98 is above the 20-day moving average (MA) of 6.76, above the 50-day MA of 6.76, and below the 200-day MA of 9.29, indicating a bearish trend. The MACD of -0.14 indicates Negative momentum. The RSI at 50.59 is Neutral, neither overbought nor oversold. The STOCH value of 84.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AMPL.
Amplitude Risk Analysis
Amplitude disclosed 67 risk factors in its most recent earnings report. Amplitude reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amplitude Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $402.37M | -13.43 | -19.29% | ― | 12.27% | 37.41% | |
64 Neutral | $1.24B | 44.10 | 3.93% | ― | 7.64% | -80.72% | |
63 Neutral | $540.38M | 21.17 | 77.23% | ― | 5.36% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
53 Neutral | $865.00M | -9.77 | -35.68% | ― | 16.36% | 10.40% |
* Technology Sector Average
AMPL
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Amplitude Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Amplitude Announces Leadership Transition and Reaffirms 2026 Outlook
Positive
Feb 24, 2026
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...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.