Start here if you're new
what it is
Amplitude sells software that shows companies how people use apps and websites, so they can keep users and make more money.
how it gets paid
Last year Amplitude made $343M in revenue. Product Analytics was the main engine at $172M, or 50% of sales.
why it's growing
Revenue grew 14.7% last year. 73.8% gross margin is the key number because it says the product economics are strong even while the income statement still refuses to cooperate.
what just happened
The quarter said the quiet part out loud: $252M revenue looked huge, but Amplitude still posted a loss and the profit story stayed unfinished.
At a glance
B+ balance sheet — decent shape, but not bulletproof
-$0.76 fy2024 eps est
$299M fy2024 rev est
1.6 beta
~$983M market cap
xvary composite: 43/100 — below average
What they do
Amplitude sells software that shows companies how people use apps and websites, so they can keep users and make more money.
Amplitude sells insight, not just dashboards. Its platform tracks how users move through a product, and more than 3,800 customers already feed that system data, which makes ripping it out a pain. The Behavioral Graph is jargon → a database of user actions → so your product team can ask what users did and why without rebuilding the plumbing.
How they make money
$343M
annual revenue · their business grew +14.7% last year
Product Analytics
$172M
Session Replay
$62M
Experiment
$45M
Customer Data Platform
$34M
Guides, Surveys & Other
$30M
The products that matter
core user behavior analytics
Digital Analytics Platform
$343M latest annual revenue · +15%
It's the center of the whole story. The latest annual revenue on this page is $343M, up 15%, which tells you the core platform still sells even without an obvious moat.
core
plain-english data queries
Agentic AI Analytics
launched feb 2026
It launched in Feb 2026 to let customers ask questions about user data in plain English. There is no revenue proof on this page yet. You're underwriting possibility, not evidence.
new bet
implementation and support
Professional Services
$17M · 5% of revenue
This piece brought in $17M and grew 10%. It's too small to change the thesis, but it helps customers get the platform live and sticky.
support layer
Key numbers
$343M
ttm revenue
That is the proof people pay for the software. It also means the stock trades at about 2.9x sales on a $983M market cap.
$0.76
fy2024 eps
EPS means profit per share → how much the business earns for each share → so what: Amplitude still loses money.
73.8%
gross margin
Gross margin means what's left after direct service costs → the basic software economics → so what: the model can work if spending gets tighter.
$2M
long-term debt
Debt is tiny versus a $983M market cap. You are not staring at a balance-sheet fire drill.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 4 — safer than 20% of stocks
- price stability 10 / 100
- long-term debt $2M (0% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for AMPL right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The quarter said the quiet part out loud: $252M revenue looked huge, but Amplitude still posted a loss and the profit story stayed unfinished.
Latest-quarter revenue was $252M, up 184% vs. prior year, while EPS was -$0.54 and gross margin was 73.8%. Great software margins are nice. Actual earnings are nicer.
$252M
revenue
$0.54
eps
73.8%
gross margin
the number that mattered
73.8% gross margin is the key number because it says the product economics are strong even while the income statement still refuses to cooperate.
source: company earnings report, 2026
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What could go wrong
the top risk is free and bundled product analytics from Google and Datadog.
med
The category can feel optional fast
Google Analytics is free for a lot of use cases, and Datadog sells adjacent tooling at much larger scale. Amplitude had $343M in revenue last year. Datadog is a roughly $40B company in this page's source framing. That's not a fair fight.
If customers decide "good enough and cheaper" wins, multiple expansion stops and the mid-teens growth story can flatten quickly.
med
AI may improve usability without improving pricing power
Agentic AI Analytics launched in Feb 2026, but this page has no adoption data yet. Plenty of software companies can add a natural-language layer. Fewer can turn that into durable revenue.
If AI ends up being table stakes instead of differentiation, you get feature excitement without a real change in the business model.
med
Profitability is still a promise
The company produced $23.5M of free cash flow, but the net margin was -25.8% and EPS is still estimated at -$0.76. Cash generation is encouraging. Sustainable earnings are still missing.
If growth slows before margins improve, investors stop paying for future software economics and start paying for present-day losses.
Nearly all of the business sits in the blast radius if this category gets commoditized: $326M of $343M revenue comes from subscriptions tied to the core platform.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q1 2026 revenue versus the $92.7M midpoint
Management set the bar at $92.7M. A miss matters more here because the stock needs the recent 16–17% pace to feel real.
growth
Whether mid-teens growth sticks
Q4 grew 17% and Q1 guidance implies 16%. If that fades quickly, the valuation stops looking like an opportunity and starts looking accurate.
product
Actual proof that Agentic AI is being adopted
The launch happened in Feb 2026. What you want next is customer usage, expansion, or any hard evidence that the feature changes buying behavior.
execution
Leadership stability after Thomas Hansen's departure
A management change during a strategic pivot can be noise. It can also be the first sign that the pivot is harder than it looked.
Analyst rankings
risk profile
below average
risk rank 4 — more volatile than most — brace for bigger swings.
chart momentum
below average
momentum rank 4 — analysts see underperformance risk in the near term.
source: institutional data
Institutional activity
institutional ownership data for AMPL is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$12
current price
n/a
target midpoint · n/a from current
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