Amplitude, Inc. (AMPL)
Data & AnalyticsSaaS Metrics & Investor Data β Q1 2026
analyticsEditorial Financial Analysis
Financial Performance & Trajectory
Amplitude demonstrates a steady, albeit decelerating, revenue growth trajectory. Trailing twelve-month (TTM) revenue reached $0.35B in Q1 2026, up from $0.33B in Q3 2025. Year-over-year growth ticked up to 15.4% in Q1 2026 from 14.7% in Q4 2025, following a low of 9.3% in Q3 2025, suggesting a potential stabilization after a period of deceleration. However, the company's gross margin compressed from a peak of 77.7% in Q3 2025 to 73.6% in Q1 2026, indicating possible increased cost of services or product mix shifts. Critically, free cash flow (FCF) margin swung from a positive 8.2% in Q4 2025 to a negative -7.6% in Q1 2026, implying a significant cash burn quarter that undermines recent profitability improvements and signals a re-escalation of investment or working capital strain.
Operational & Go-to-Market (GTM) Efficiency
Operational efficiency, as measured by the Rule of 40, remains suboptimal. The score deteriorated from 22.9 in Q4 2025 to just 7.8 in Q1 2026, driven entirely by the negative FCF margin and modest growth. This places Amplitude well below the 40-point threshold considered healthy for high-growth SaaS companies. The absence of disclosed Net Revenue Retention (NRR) and CAC Payback metrics is a notable transparency gap, preventing a full assessment of customer expansion economics and capital efficiency. The sharp FCF margin decline in Q1 2026 suggests that recent R&D or sales investments have not yet yielded proportional revenue acceleration, raising questions about the near-term return on reinvestment.
Market Valuation & Sentiment
At an EV/Revenue multiple of 2.5x in Q1 2026, up from 1.9x in Q4 2025, the market has assigned a modest premium to the recent growth re-acceleration. However, this multiple remains low relative to high-growth peers, reflecting the poor Rule of 40 score and negative FCF. Insider trading activity is a neutral-to-negative signal: with zero insider purchases and net selling of -$1.6M over the last ten filings, management appears to lack conviction in the stock's near-term upside. Wall Street sentiment is cautiously constructive, with a consensus Buy rating (8 Buys, 4 Holds) and an average price target of $12.00, implying roughly 60% upside from the current valuation. This target suggests analysts believe the current multiple undervalues a potential recovery in growth and margins, but the execution risk is high given the recent cash flow volatility.
Disclaimer: The editorial financial analysis above is generated using data sourced from SEC EDGAR filings and Wall Street consensus ratings. This analysis is provided for informational and educational purposes only and does not constitute financial, investment, or professional advice. Readers should conduct their own research or consult with a registered financial advisor before making any investment decisions.
Amplitude, Inc. (AMPL) is a Data & Analytics SaaS company with a market cap of $1.0B as of Q1 2026. The company trades at 2.5x EV/Revenue and has delivered +15.4% revenue growth year-over-year. With a gross margin of 74% and FCF margin of -7.6%, Amplitude, Inc. scores 8 on the Rule of 40 β placing it in the below-median of public SaaS companies tracked by SaaSDB.
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Latest company metrics compared to the Data & Analytics sector medians
EV/Revenue is 2.5x (sector median: 10.1x) β trading at a discount of 7.6x relative to peers.
Rule of 40 is 7.8% (sector median: 39.7%) β underperforming peers by 31.9%.
Revenue Growth is 15.4% (sector median: 21.1%) β underperforming peers by 5.7%.
Gross Margin is 73.6% (sector median: 73.6%) β in-line with peers.
FCF Margin is -7.6% (sector median: 6.7%) β underperforming peers by 14.3%.
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rocket_launchFounder & Operator Metrics
Not publicly disclosed by this company: Net Revenue RetentionΒ·Gross RetentionΒ·ARRΒ·ARR GrowthΒ·CAC Payback
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Insider Trading Activity
90-Day Insider Sentiment: Bearish / Net Selling. Insiders executed 2 sell transactions (totaling $321K) with zero buys. Last activity on Jun 1, 2026.
Analyst Ratings
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