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/AMPL
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Amplitude Inc

Amplitude Inc

AMPL
$9.60USD↓-0.52%-0.05 today

MARKET CAP

1.3B

P/E (TTM)

193.0x

FWD P/E

75.5x

DAY RANGE

$9 – $10

52W RANGE

$6
$14

AI Summary

Stalk
Buy NowHigh

AMPL is in a Stage 2 advancing phase with a Lockout Rally driving accelerated upside from the recent base. Despite extreme overbought readings and extension above the short‐term EMAs, the Lockout Rally override supports further continuation. Medium‐term structure remains bullish with rising EMAs and a decisive breakout above consolidation. Execution calls for immediate participation in the breakout zone above the prior highs, joining the continuation participation of the rally.

  • ↑Q1’26 revenue $94M (+17% YoY) and ARR $374M (+17% YoY)
  • ↑727 customers with >$100K ARR (+18% YoY); net dollar retention 106%
  • ↓Negative free cash flow of $13.2M; FCF margin –14%
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Amplitude, Inc. (NASDAQ: AMPL) operates as a leading provider of product analytics solutions that enable organizations to optimize their digital product offerings. The company is notably positioned at the intersection of analytics and artificial intelligence (AI), focusing on harnessing user behavior data for actionable insights. Amplitude's strategic move towards AI integration and its recent acquisition of Statsig enhances its competitive edge in the rapidly evolving analytics space, addressing the growing demand for unified analytics solutions among enterprises.

Bull says

  • ↑Q1’26 revenue $94M (+17% YoY) and ARR $374M (+17% YoY)
  • ↑727 customers with >$100K ARR (+18% YoY); net dollar retention 106%
  • ↑AI-first pivot: 90% of code via AI; Q2 guidance $96.9–$99.1M
  • ↑$3.1M operating loss offset by share buybacks, signaling confidence
  • ↑Strong liquidity and positive analyst revisions support earnings upside
  • ↑AI-integrated analytics platform strengthens competitive moat

Bear says

  • ↓Negative free cash flow of $13.2M; FCF margin –14%
  • ↓Gross margin declined by 2 ppts YoY to 75%, pressuring profits
  • ↓High volatility and negative leverage heighten financial risks
  • ↓Weak profitability score signals strained earnings conversion
  • ↓Chaotic AI integration and Statsig acquisition pose execution risk
  • ↓Legacy vendors’ stronger profitability metrics increase competitive pressure

Investment themes with AMPL

Software↑ +1.28%

Cloud-based digital tools powering business productivity and innovation

PLTR · IBM · CRM

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-08-2026bullish

Transcript signals

Bull points

  • The first quarter was solid, with incremental improvement on our dollar-based net retention to 106%, multi-product accounts for more than 77% of our ARR, and our ARR growth was 17%.
  • We are in a moment of transformation. We are transforming the value our customers receive, we are transforming how we deliver value, and we are transforming our organization from the ground up.
  • We are focused on becoming a true partner with our customers to understand how to apply the technology in the most effective ways.

Bear points

  • Gross margin was 75% for the first quarter, down two points from the first quarter of last year. This was largely driven by growth in inference costs as adoption of our AI tools by our customers outpaced our expectations.
  • Free cash flow in the quarter was a negative $13.2 million, or negative 14% of revenue compared to a negative 9.2 million or negative 12% of revenue during the same period last year.
  • there will be some pressure on gross margins for the remainder of the year as we integrate and optimize our hosting environment.
Read full transcript analysis ›