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Amplitude
(NASDAQ:AMPL)
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Rating:70Outperform
Price Target:
$14.00
▲(8.02% Upside)
Action:Upgraded
Date:08/28/26
AMPL scores as above-average primarily due to strengthening fundamentals (positive free cash flow, low leverage, continued revenue growth) and strong technical momentum (price above major moving averages with positive MACD). The score is held back by ongoing GAAP losses/negative P/E and earnings-call noted margin pressure from Statsig integration and higher AI inference costs, despite raised guidance and strong ARR/RPO indicators.
Positive Factors
Revenue Growth and Contract Durability
Sustained revenue growth alongside expanding remaining performance obligations indicates strong demand and improving forward revenue visibility. The raised full-year outlook and large contracted backlog support continued expansion over the next several quarters, reducing reliance on one period of bookings.
Negative Factors
Persistent GAAP Losses
Meaningful operating and net losses show that Amplitude has not yet established sustainable GAAP profitability despite continued revenue growth. Ongoing losses can constrain reinvestment flexibility, reduce balance-sheet strength over time and leave the investment case dependent on future operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth and Contract Durability
Sustained revenue growth alongside expanding remaining performance obligations indicates strong demand and improving forward revenue visibility. The raised full-year outlook and large contracted backlog support continued expansion over the next several quarters, reducing reliance on one period of bookings.
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
$1.96B
Dividend YieldN/A
Average Volume (3M)1.70M
Price to Earnings (P/E)―
Beta (1Y)1.64
Revenue Growth18.26%
EPS Growth-0.63%
CountryUS
Employees795
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.75
Shares Outstanding101,261,630
10 Day Avg. Volume1,973,307
30 Day Avg. Volume1,704,578
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 Cap0.44
Enterprise Value/Revenue2.29
Enterprise Value/Gross Profit3.17
Enterprise Value/Ebitda-9.77
Forecast
1Y Price Target
$14.78Price Target Upside14.03% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)0.07
Revenue Forecast (FY)$409.15M
Amplitude Business Overview & Revenue Model
Company Description
Amplitude, Inc. offers a sophisticated digital optimization platform to businesses across the United States and globally, focusing on analyzing and enhancing customer behavior within their digital products. The company's extensive product portfoli...
How the Company Makes Money
Amplitude primarily makes money by selling access to its software platform under a subscription model (typically sold to businesses). Revenue is driven by customers paying recurring fees to use Amplitude’s analytics and related capabilities, often...
Amplitude Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call emphasized strong top-line growth, ARR expansion, record free cash flow, accelerating product-led AI adoption (global agents, Wade, Statsig integration) and clear cross-sell opportunities. Management also disclosed margin pressure from integrating Statsig and rising inference/COGS as they scale AI capabilities, plus the need to educate the field and customers on the broader platform. Overall the positives around revenue, ARR, cash generation, product innovation and early commercial traction outweigh the integration and margin headwinds.Positive Updates
Revenue Growth
Q2 revenue of $100.9–$101M, up 21% year-over-year and up 8% sequentially; Q3 revenue guide $105.6–$108M (~21% growth at midpoint).
Negative Updates
Gross Margin Pressure from Statsig Integration and AI Inference Costs
Overall gross margin was 71% in Q2, down ~4 percentage points year-over-year and sequentially; Statsig's hosting environment is currently in the low 50s gross margin range and expected to take time to optimize, while rising inference costs from AI adoption reduced gross margins by an additional ~2 points versus Q1.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Q2 revenue of $100.9–$101M, up 21% year-over-year and up 8% sequentially; Q3 revenue guide $105.6–$108M (~21% growth at midpoint).
Read all positive updates
Company Guidance
Management guided Q3 2026 revenue of $105.6–$108.0 million (≈21% YoY at the midpoint), non‑GAAP operating income of $2.5–$4.5 million and non‑GAAP EPS of $0.02–$0.03 (assuming ~133 million fully diluted shares); for full‑year 2026 they raised revenue guidance to $407.2–$411.2 million (≈19% YoY at the midpoint), bumped full‑year non‑GAAP operating income to $6.3–$9.3 million and set non‑GAAP EPS at $0.06–$0.08 (assuming ~137.1 million fully diluted shares). The outlook reflects Q2 results (Q2 revenue $100.9M, ARR $410M up 22% YoY and +$36M sequentially including $17M from Statsig, total RPO $483M up 35% YoY, current RPO +30% YoY, long‑term RPO +47% YoY, and record free cash flow of $23.7M) and management’s plan to drive operating leverage despite higher AI‑related COGS.Amplitude Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
76
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 374.37M | 343.21M | 299.27M | 276.28M | 238.07M | 167.26M |
| Gross Profit | 271.11M | 253.93M | 222.35M | 204.36M | 167.63M | 115.50M |
| EBITDA | -87.88M | -75.73M | -86.42M | -83.47M | -87.92M | -70.86M |
| Net Income | -99.53M | -88.54M | -94.32M | -90.36M | -93.38M | -74.98M |
Balance Sheet | ||||||
| Total Assets | 356.58M | 420.68M | 445.91M | 433.68M | 413.75M | 400.39M |
| Cash, Cash Equivalents and Short-Term Investments | 140.54M | 192.00M | 241.10M | 322.40M | 230.47M | 307.44M |
| Total Debt | 5.54M | 9.57M | 5.58M | 8.18M | 11.09M | 0.00 |
| Total Liabilities | 220.38M | 175.34M | 149.35M | 138.93M | 118.79M | 93.84M |
| Stockholders Equity | 136.20M | 245.35M | 296.56M | 294.75M | 294.97M | 306.55M |
Cash Flow | ||||||
| Free Cash Flow | 28.30M | 28.20M | 11.73M | 22.45M | -11.19M | -34.94M |
| Operating Cash Flow | 31.77M | 29.82M | 18.51M | 25.63M | -5.38M | -31.71M |
| Investing Cash Flow | 69.08M | -55.08M | -75.37M | 9.32M | -89.39M | -1.50M |
| Financing Cash Flow | -146.71M | -65.33M | -19.94M | -4.94M | 5.83M | 222.64M |
Amplitude Technical Analysis
Positive
12.96
Price Trends
13.07
Positive
10.49
Positive
9.23
Positive
Market Momentum
0.65
Negative
72.73
Negative
91.54
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMPL, the sentiment is Positive. The current price of 12.96 is below the 20-day moving average (MA) of 13.99, below the 50-day MA of 13.07, and above the 200-day MA of 9.23, indicating a bullish trend. The MACD of 0.65 indicates Negative momentum. The RSI at 72.73 is Negative, neither overbought nor oversold. The STOCH value of 91.54 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | $3.63B | 21.20 | 19.50% | ― | 15.57% | ― | |
70 Outperform | $1.96B | -20.89 | -46.24% | ― | 18.26% | -0.63% | |
70 Outperform | $666.95M | -22.00 | -14.05% | ― | 11.85% | 47.54% | |
69 Neutral | $3.30B | -28.21 | -18.78% | ― | 27.44% | 0.82% | |
64 Neutral | $792.78M | -36.04 | -94.75% | ― | 10.16% | 28.29% | |
64 Neutral | $1.28B | 57.68 | 4.29% | ― | 6.35% | -79.74% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
AMPL
Amplitude
15.67
5.61
55.77%
SPT
Sprout Social
11.00
0.04
0.36%
SMWB
Similarweb
9.05
0.50
5.85%
CXM
Sprinklr
5.52
-2.00
-26.60%
FRSH
Freshworks
13.92
2.67
23.73%
BRZE
Braze
29.06
2.90
11.09%
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.