Amplitude Stock Earnings Reports

Q1 2026 highlights: Revenue was $93.5–94M (up 17% YoY) and ARR was $374M (up 17% YoY). Non-GAAP operating loss was $3.1M. Dollar-based net retention improved to 106%. Customers with >$100k ARR grew to 727 (up 18% YoY). Multiproduct adoption continues to expand (77% of ARR from customers with multiple products; 47% of customers now have multiple products). Gross margin was 75%, down ~2 points, driven primarily by higher inference costs as customers increasingly adopt Amplitude’s AI tools. Management is undergoing an AI-led transformation: leadership and go-to-market reorganizations (Nate Crook named Chief Commercial Officer; Gab Menachem joined as Chief Product Officer), new pricing & packaging rollout (25% of ARR contracted on the new packaging in Q1), and intensified product launches (Agent Analytics, Global Agent, AI Assistant, CLI Wizard). Strategic partnership with Statsig: Amplitude will take on Statsig’s customers, brand and product development and expects an initial incremental ARR impact (Andrew noted recording an additional ~$16M ARR to align Statsig customers to Amplitude’s ARR definition); integration will require near-term investment and may pressure margins. Guidance: Q2 revenue $96.9M–$99.1M (~18% growth at midpoint); FY2026 revenue $397M–$403M (~17% at midpoint); full-year non-GAAP operating income guided to $2.5M–$6.5M, reflecting incremental investments for Statsig. Key investor takeaways: (1) strong top-line growth and improving net retention driven by cross-sell/multiproduct adoption; (2) aggressive pivot to AI is accelerating product velocity and engagement but is causing short-term gross margin and cost-to-serve headwinds due to inference and integration costs; (3) Statsig adds experimentation/warehouse-native capabilities and incremental ARR but brings integration and margin optimization work; (4) management is prioritizing speed and market positioning over short-term conservatism, so execution and integration risk warrant monitoring.