AMPL earnings analysis
What we found in AMPL's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Amplitude, Inc. (AMPL) reported Q1 2026 revenue of $93.5 million, a 17% increase from Q1 2025, and a narrower EPS loss of -$0.02 versus -$0.17 in the prior year. The company reported significant investments in R&D and marketing, indicating a focus on growth despite rising operational costs. Management cautioned about challenges affecting cash flow, with an operating cash flow of -$11.6 million this period.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Reported revenue was $93.5 million, up 17% from $79.95 million in Q1 2025.
- EPS Improvement
- EPS loss narrowed to -$0.02 compared to -$0.17 in the previous year.
- Operating Cash Flow
- Operating cash flow was -$11.6 million, an increase in cash usage from -$8.0 million in Q1 2025.
- Strong Customer Growth
- Company added 727 customers with >$100k ARR, up 18% YoY, indicating strong demand.
- Increased R&D Investment
- R&D expenses rose 8% YoY to $25.3 million as the company invests in its AI analytics platform.
- Recovery from Prior Losses in FCF
- Free Cash Flow improved to -$13.2 million from -$9.2 million, reflecting increased operational investments.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Cash Flow Concerns
- Operating cash flow was -$11.6 million, indicating higher cash burn compared to the previous year.
- Increased Operating Expenses
- Operating expenses rose 8% to $92.4 million compared to $83.9 million, adding pressure to margins.
- Dependence on Larger Customers
- Revenue heavily reliant on recurring income from larger customers may heighten risk amid economic fluctuations.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.02
- Gross margin
- 75%
- Operating margin
- -25.7%
What they said about what is next.
Management anticipates continued revenue growth in Q2 2026 but did not provide specific guidance.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 19, 2026
- Amplitude positions itself as a leader in the emerging "AI analytics" category with a unified AI Analytics Platform that bundles Analytics, Session Replay, Experimentation, Activation, Guides/Surveys, AI Agents, MCP, AI…
- 10-Q · November 6, 2025
- Amplitude reported Q3 revenue of $88,564,000, up from $75,217,000 in Q3 2024, maintaining a gross margin of ~74.0% but registering an operating margin of -29.0% and GAAP loss per share of $(0.18). Cash and cash…
- 10-Q · August 7, 2025
- Amplitude reported Q2 revenue of $83.27M, up 13.6% year-over-year, with gross margin of 72.6% and operating margin of -32.5%. GAAP net loss per share was $(0.19), essentially unchanged vs. Q2 2024, while deferred…
- 10-Q · May 7, 2025
- Amplitude reported quarterly revenue of $79,953,000, up $7,329,000 (10.1%) versus $72,624,000 a year ago, while gross margin remained stable at 74.7%. The company remains unprofitable with a net loss of $22,231,000…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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