Here are 1-3 brief analogies to describe Amplitude:

• Amplitude is like Google Analytics for digital products.
• It's similar to Optimizely, but with built-in deep behavioral analytics and personalization for product experiences.

Major Products and Services of Amplitude (AMPL):

• Amplitude Analytics: Provides insights into customer behavior within digital products.
• Amplitude Recommend: A no-code personalization solution that adapts digital products and campaigns to increase customer engagement.
• Amplitude Experiment: An integrated solution enabling teams to determine and deliver optimal product experiences through A/B tests and controlled feature releases.
• Amplitude Behavioral Graph: A proprietary database for deep, real-time interactive behavioral analysis and behavior-driven personalization.
• Data Management: A real-time data layer for planning, integrating, and managing data sources, including identity resolution, security, and privacy solutions.
• Customer Support Services: Provides support for initial implementation, ongoing assistance, and application training.

• Atlassian (NASDAQ: TEAM)
• NBCUniversal (part of Comcast, NASDAQ: CMCSA)
• Peloton Interactive (NASDAQ: PTON)
• Shopify (NYSE: SHOP)
• T-Mobile US (NASDAQ: TMUS)

Amazon.com, Inc. (AMZN)

Alphabet Inc. (GOOGL)

Spenser Skates, Chief Executive Officer

Spenser Skates is the co-founder and CEO of Amplitude. He co-founded Amplitude (originally Sonalight) with Curtis Liu. Prior to Amplitude, Skates founded Sonalight, a voice recognition app that allowed users to text hands-free, which was backed by Y Combinator. The team later pivoted from Sonalight to found Amplitude. Amplitude has received funding from various venture capital firms including Benchmark, Battery, IVP, Sequoia, and GIC.

Andrew Casey, Chief Financial Officer

Andrew Casey joined Amplitude as Chief Financial Officer on August 1, 2024. He is responsible for leading Amplitude's financial strategy and operations. Prior to joining Amplitude, Casey served as CFO for Lacework, Inc., and WalkMe Ltd., where he led WalkMe's Initial Public Offering (IPO) and Lacework's successful acquisition by Fortinet. He has also held senior finance roles at prominent technology firms such as ServiceNow, Hewlett-Packard, NortonLifeLock (formerly Symantec), Oracle, and Sun Microsystems.

Curtis Liu, Chief Technology Officer

Curtis Liu is the co-founder and Chief Technology Officer of Amplitude. He co-founded Amplitude with Spenser Skates. He was also involved with their previous venture, Sonalight, a voice recognition app.

Nathaniel Crook, Chief Commercial Officer

Nathaniel Crook, currently the Chief Revenue Officer, is transitioning into the newly created role of Chief Commercial Officer. In this new position, he will take on many of the responsibilities previously held by the President, focusing on driving the company's commercial initiatives.

Thomas Hansen, President

Thomas Hansen serves as the President of Amplitude. He is scheduled to step down from his role on March 31, 2026, and will continue to assist the company in an advisory capacity until April 1, 2027.

Here are the key risks to Amplitude's business:

1. Data Privacy Concerns and Litigation: Amplitude faces ongoing class-action lawsuits alleging that its technology embedded in popular mobile apps surreptitiously collects and shares millions of consumers' geolocation and other sensitive data without consent. These lawsuits claim that Amplitude's business model relies on collecting and sharing this sensitive first-party consumer data with marketing platforms, which could result in significant legal costs and management distraction.
2. Intense Competitive Pressure: The digital analytics and optimization market is highly competitive, with Amplitude facing rivals such as Google Analytics (especially Google Analytics 4, which could bundle advanced product analytics into a free tier), Mixpanel, Heap, and Adobe Analytics. This intense competition, coupled with broader volatility across growth equities and valuation reassessment cycles in the software sector, poses a structural risk to Amplitude's enterprise pricing power and market share.
3. Path to Profitability and High Operating Expenses: Despite solid revenue growth, Amplitude has a history of widening net losses, with high operating expenses, particularly in sales and marketing (consuming over 50% of revenue in some quarters), posing a significant challenge to achieving consistent profitability. While the company has shown some positive non-GAAP operating income in recent periods and is targeting GAAP profitability, sustained losses and the need to manage escalating costs for data ingestion and infrastructure remain key financial risks.

The continuous integration and enhancement of advanced behavioral analytics, experimentation, and personalization capabilities by large, diversified technology companies (such as Google, Adobe, and Salesforce) into their existing, widely adopted enterprise platforms. This trend could lead to a scenario where customers increasingly opt for consolidated solutions from a single vendor, diminishing the perceived value or necessity of a specialized, standalone digital optimization system like Amplitude.

• Digital Optimization System: Amplitude's management estimates its total addressable market at $37 billion.
• Personalization Software Market: The global personalization software market was valued at USD 1.16 billion and is projected to reach USD 5.14 billion by the end of 2030, with a compound annual growth rate (CAGR) of 23.7%. Other estimates indicate the market was approximately USD 11.98 billion in 2025 and is projected to grow to USD 45.07 billion by 2032, at a CAGR of 20.83%. The U.S. Personalization Software Market represents approximately 42% of total software implementations worldwide.
• A/B Testing Software Market: The global A/B testing software market size was valued at approximately $1.2 billion in 2023 and is projected to reach around $3.8 billion by 2032, growing at a CAGR of 13.5%. Another report estimates the global market at USD 8180 million in 2024, anticipated to reach USD 25816.9 million by 2032, with a CAGR of 15.45%. North America is identified as the largest regional market for A/B testing software.
• Behavior Analytics Market (including Customer Behavior Analytics): The global behavior analytics market size was estimated at USD 4.13 billion in 2024 and is projected to reach USD 16.68 billion by 2030, growing at a CAGR of 26.5%. Another projection sees the market expanding from USD 5.5 billion in 2024 to USD 13.4 billion by 2029, with a CAGR of 19.5%. North America is the largest market for Customer Behavior Analytics, holding approximately 45% of the global share.
• Customer Data Platform (CDP) Market: The global customer data platform market size was estimated at USD 8.26 billion in 2025 and is projected to reach USD 58.41 billion by 2033, growing at a CAGR of 27.8%. Another source estimates the global market at USD 3.28 billion in 2025, growing to USD 17.03 billion by 2034, exhibiting a CAGR of 19.60%. North America dominates the global customer data platform market.

Amplitude (symbol: AMPL) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

1. Expansion within the Enterprise Customer Base and Multi-Product Adoption: Amplitude is focused on growing its enterprise customer base, defined as customers with Annual Recurring Revenue (ARR) over $100,000 and particularly those exceeding $1 million. The company is emphasizing the expansion of existing customer relationships through the adoption of multiple Amplitude products, such as Analytics, Recommend, and Experiment. This strategy is reflected in an increase in dollar-based net retention rates and a significant portion of gross ARR being driven by expansions.
2. Advancements in AI-driven "Agentic Analytics" and New AI Product Offerings: A significant driver is Amplitude's strategic push into AI, particularly through its "agentic analytics" platform. This includes the introduction of global and specialized AI agents, as well as the Model Context Protocol (MCP), which enables AI tools to interact directly with Amplitude's data for deeper insights. The company views AI as a structural tailwind and is investing in new AI-native capabilities, exemplified by its acquisition of InfiniGrow to enhance AI-native marketing analytics.
3. New Pricing and Packaging Strategy: Amplitude has implemented a new pricing and packaging approach designed to simplify the customer experience and provide greater cost transparency and certainty. This approach retains events as the core billing metric while monetizing other products as an uplift on the core platform charge, aiming to reduce friction and encourage broader platform adoption.
4. Continued Product Innovation and Platform Strategy: Beyond specific AI offerings, Amplitude is committed to ongoing product innovation and a comprehensive platform strategy. This involves enhancing its existing digital optimization system and launching new features that provide deeper insights into customer behavior. The company aims to consolidate the platform, enabling teams to move from insight to action more efficiently.

Share Repurchases

• Amplitude announced a $50 million share repurchase program in the first quarter of 2025.
• On February 18, 2026, the board approved an additional $100 million share repurchase authorization, following $30.7 million of repurchases made in 2025.
• The $100 million share repurchase authorization represents up to 11.8% of Amplitude's outstanding shares.

Share Issuance

• Stock-based compensation expense and related employer payroll taxes amounted to $95.6 million for the full year 2025, compared to $102.6 million in 2024.
• For the first quarter of 2025, stock-based compensation expense and related employer payroll taxes were $21.8 million.
• Share dilution from stock-based compensation has been noted, with shares outstanding increasing from 110 million to 132 million over four years, representing approximately 5.5% annual dilution.

Outbound Investments

• Amplitude acquired InfiniGrow, an AI marketing analytics platform.

Capital Expenditures

• Capital expenditures for the most recent trailing twelve months were -$1.62 million.
• In the most recent quarter, capital expenditures totaled -$0.19 million.
• Capital expenditures primarily focus on purchases of property and equipment and capitalized internal-use software costs.