AMPL · Amplitude, Inc.

Amplitude's first quarter 2026 results reflect steady execution with 17% revenue growth to $93.5 million, matching the ARR growth rate of 17% to $374 million. The company continues to invest aggressively in AI product innovation, launching Global Agent, Agent Analytics, and an AI Assistant, which management believes positions it for the next generation of analytics. Despite these investments, GAAP operating loss improved slightly to $(24.1) million from $(24.2) million a year ago, while non-GAAP operating loss widened to $(3.1) million from $(2.1) million, driven by higher stock-based compensation and payroll taxes of $20.5 million. Cash flow metrics weakened, with operating cash use of $11.6 million and free cash flow of $(13.2) million, compared to $(8.0) million and $(9.2) million respectively in the prior year, indicating increased cash burn. Customer metrics were positive: the number of customers with $100k+ ARR grew 18% to 727, and those with $1M+ ARR grew 25% to 55. Multi-product ARR expanded to 77% of total ARR, and new pricing and packaging represented 25% of contracted ARR in the quarter. The partnership with Statsig to take on its brand and customers adds potential revenue streams. Guidance for Q2 2026 revenue of $96.9-$99.1 million implies sequential growth of 4-6%, and full-year revenue of $397-$403 million suggests 12-14% growth over the trailing twelve months. Non-GAAP operating income is expected to turn positive for the full year ($2.5-$6.5 million), signaling improving operating leverage. However, the company remains unprofitable on a GAAP basis, and the path to sustained profitability will depend on scaling revenue while managing expense growth.