Amplitude Reports Q1 Revenue Beat, Strong Growth Metrics, and Projects Full-Year Non-GAAP Profitability
Summary
Amplitude reported Q1 revenue of $93.5 million, beating estimates, with strong ARR and RPO growth, and provided full-year guidance projecting non-GAAP profitability.
Key Events
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Q1 2026 Financial Results Exceed Expectations
Reported Q1 revenue of $93.5 million, a 17% year-over-year increase, slightly surpassing analyst estimates. Annual Recurring Revenue (ARR) grew 17% year-over-year to $374 million, and Remaining Performance Obligations (RPO) increased 31% year-over-year to $427.4 million.
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Improved Customer Retention and Growth
Dollar-based Net Retention Rate (NRR TTM) improved to 105%. The number of customers with $100,000 or greater in ARR increased by 18% year-over-year to 727, and customers with $1.0 million or greater in ARR grew 25% year-over-year to 55.
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Increased Q1 Cash Burn
Net Cash used in Operations was $(11.6) million and Free Cash Flow was $(13.2) million for Q1 2026, representing an increase in cash utilization compared to the prior year.
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Positive Full-Year 2026 Profitability Outlook
The company provided full-year 2026 guidance projecting non-GAAP operating income between $2.5 million and $6.5 million, and non-GAAP net income per share between $0.03 and $0.06, indicating an expected shift to profitability.
Analysis
Amplitude's Q1 2026 results show continued revenue growth, slightly surpassing analyst estimates, and robust increases in Annual Recurring Revenue (ARR) and Remaining Performance Obligations (RPO). The improved dollar-based net retention rate indicates strong customer expansion. While the company experienced increased cash burn in Q1, the full-year 2026 guidance projects a significant shift to non-GAAP operating income and positive non-GAAP net income per share, signaling a clear path to profitability. Strategic initiatives in AI analytics and the Statsig partnership further position the company for future growth.
At the time of this filing, AMPL was trading at $6.63 on NASDAQ in the Technology sector, with a market capitalization of approximately $1B. The 52-week trading range was $5.51 to $14.49. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.