Financial Data and Key Metrics Changes - The second quarter revenue was $83.3 million, up 14% year over year, exceeding guidance [4][40] - Annual recurring revenue (ARR) reached $335 million, up 16% year over year, with the highest net new ARR addition in eleven quarters [4][40] - Non-GAAP operating loss was $1.5 million, with a gross margin of 75%, down one point from the previous year [5][41] - Free cash flow margin increased to 22%, generating $8.9 million in free cash flow for the first half of 2025, compared to $5.7 million in the same period last year [34][44] Business Line Data and Key Metrics Changes - Customers with more than $100,000 in ARR grew to 634, a 16% increase year over year [5][41] - 67% of ARR now comes from multiproduct customers, up from 64% last quarter [5][36] - The growth of data being ingested into the platform increased by 20% year over year [36] Market Data and Key Metrics Changes - The company was recognized as a leader in the 2025 Forrester Wave for digital analytics solutions, receiving the highest current offering score [26] - Amplitude ranked number one in eight categories in the G2 Summer 2025 report, including product analytics for the twentieth consecutive quarter [28] Company Strategy and Development Direction - The company is focusing on becoming AI native and expanding its platform through acquisitions, such as Command AI, Craftful, and Inari [8][10][11] - The strategy emphasizes consolidating analytics, experimentation, and activation within a single ecosystem to drive greater personalization [30] - The company aims to build a more durable business by increasing visibility into future revenue streams and focusing on operational excellence [36][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategy to accelerate growth, particularly through enterprise customer focus and platform expansion [34][46] - The company expects revenue for Q3 2025 to be between $85 million and $87 million, representing an annual growth rate of 14% at the midpoint [46] - Long-term aspirations for net revenue retention (NRR) are above 115%, driven by continued progress in selling the platform [96] Other Important Information - The company is actively working to improve sales efficiency and has shifted to a value-oriented sales model [60][68] - Management highlighted the importance of educating existing customers about the full suite of capabilities available on the platform [90][92] Q&A Session Summary Question: How do recent acquisitions help accelerate Amplitude's efforts in AI? - Management indicated that while the AI agents are in closed beta, they provide significant leverage for customers to derive value from Amplitude [55] Question: What is the outlook for sales efficiency? - Management noted improvements in sales efficiency through better territory assignments and a shift to a value-oriented sales model [60][68] Question: How much of the NRR improvement is due to churn dynamics versus upselling? - Management stated that both factors contribute, with strong platform sales driving NRR improvements [64][66] Question: What is the progress on sales enablement since the new leadership? - Management emphasized a change in mentality towards enterprise sales and refining funnel dynamics to improve sales outputs [68] Question: How is the company addressing the competition for talent in AI? - Management highlighted the alignment of new talent with the company's long-term mission and the importance of integrating AI across the product [80][84]

Financial Highlights - Revenue reached $83.3 million, a 14% year-over-year increase[12, 44] - Annual Recurring Revenue (ARR) grew to $335 million, up 16% year-over-year[12, 44] - The company's Net Retention Rate was 104%, compared to 96% in Q2 2024[12, 44] - Free Cash Flow was $18.2 million, compared to $6.8 million in Q2 2024[12, 44] - Non-GAAP Operating Loss was reduced to $(1.5) million, compared to $(3.7) million in Q2 2024[12, 44] - Cash and investments totaled $288 million[12, 44] Customer Base - The company has 634 customers with ARR greater than or equal to $100,000, a 16% year-over-year increase[13, 44] - Enterprise customers contribute 65% of the company's ARR[13] - 34% of customers are using more than one product[13] Guidance - The company projects Q3 2025 revenue to be between $85 million and $87 million, representing a 13% to 16% year-over-year growth[61] - The company projects full year 2025 revenue to be between $335.2 million and $338.2 million, representing a 12% to 13% year-over-year growth[61]

Amplitude Second Quarter 2025 Financial Results [Q2 2025 Financial and Business Highlights](index=1&type=section&id=Q2%202025%20Financial%20and%20Business%20Highlights) Amplitude achieved its highest net-new ARR in nearly three years, with double-digit revenue and ARR growth, alongside significant improvements in cash flow and operational recognition Q2 2025 Financial Highlights | Financial Metric | Q2 2025 | Q2 2024 | Y/Y Change | | :--- | :--- | :--- | :--- | | Annual Recurring Revenue ($M) | $335M | $290M | 16% | | Revenue ($M) | $83.3M | $73.3M | 14% | | GAAP Loss from Operations ($M) | $(27.1)M | $(27.2)M | +$0.1M | | Non-GAAP Income (Loss) from Operations ($M) | $(1.5)M | $(3.7)M | +$2.2M | | GAAP Net Loss Per Share ($) | $(0.19) | $(0.19) | $0.00 | | Non-GAAP Net Income Per Share ($) | $0.01 | $(0.00) | +$0.01 | | Net Cash Provided by Operating Activities ($M) | $20.1M | $9.2M | +$10.9M | | Free Cash Flow ($M) | $18.2M | $6.8M | +$11.4M | - The company delivered its **highest net-new ARR** in nearly three years, reflecting a deliberate focus on enterprise and platform expansion[3](index=3&type=chunk) - Remaining performance obligations (RPO) grew to **$358.1 million**, up **31% year-over-year**, indicating strong future revenue visibility[5](index=5&type=chunk) - Amplitude was recognized as a Leader in The Forrester Wave™ for Digital Analytics Solutions and ranked **1 in Product Analytics by G2** for the 20th consecutive quarter[6](index=6&type=chunk) - The company announced the beta launch of Amplitude AI Agents, designed to automate product management tasks, and welcomed teams from Kraftful, Inari, and June to accelerate AI innovation[6](index=6&type=chunk)[9](index=9&type=chunk) - The number of customers with **$100,000 or greater in ARR** increased by **16% year-over-year** to **634**[9](index=9&type=chunk) [Financial Outlook](index=2&type=section&id=Financial%20Outlook) Amplitude projects continued revenue growth and anticipates achieving non-GAAP profitability for Q3 and full year 2025 Financial Guidance | Metric | Third Quarter 2025 Guidance | Full Year 2025 Guidance | | :--- | :--- | :--- | | Revenue ($M) | $85.0M - $87.0M | $335.2M - $338.2M | | Non-GAAP Operating Income (Loss) ($M) | $(2.0)M - $1.0M | $(2.0)M - $3.0M | | Non-GAAP Net Income (Loss) Per Share ($) | $(0.00) - $0.02 | $0.04 - $0.08 | - An outlook for GAAP measures was not provided because certain items, such as stock-based compensation expense and amortization of acquired intangible assets, cannot be reasonably predicted without unreasonable efforts[7](index=7&type=chunk) [Detailed Financial Statements](index=6&type=section&id=Detailed%20Financial%20Statements) This section provides a comprehensive view of Amplitude's financial position, performance, and cash flows, highlighting asset growth and improved operating cash [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$456.6 million** by June 30, 2025, driven by marketable securities, while liabilities rose due to deferred revenue Balance Sheet Summary | Balance Sheet Item | June 30, 2025 (in thousands $) | December 31, 2024 (in thousands $) | | :--- | :--- | :--- | | Total current assets | $286,792 | $303,631 | | Total assets | $456,610 | $445,911 | | Total current liabilities | $171,476 | $144,513 | | Total liabilities | $177,106 | $149,355 | | Total stockholders' equity | $279,504 | $296,556 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 revenue grew **14%** to **$83.3 million**, but increased operating expenses resulted in a GAAP operating loss of **$(27.1) million** Income Statement Summary (Q2) | Income Statement Item (Q2) | 2025 (in thousands $) | 2024 (in thousands $) | | :--- | :--- | :--- | | Revenue | $83,270 | $73,300 | | Gross Profit | $60,458 | $53,815 | | Total Operating Expenses | $87,552 | $80,975 | | Loss from Operations | $(27,094) | $(27,160) | | Net Loss | $(24,668) | $(23,415) | | Net Loss Per Share (Basic & Diluted) | $(0.19) | $(0.19) | - Stock-based compensation expense for Q2 2025 was **$24.5 million**, a significant non-cash expense contributing to the GAAP net loss[23](index=23&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly increased to **$20.1 million** in Q2 2025, driven by non-cash adjustments and working capital changes Cash Flow Summary (Q2) | Cash Flow Item (Q2) | 2025 (in thousands $) | 2024 (in thousands $) | | :--- | :--- | :--- | | Net cash provided by operating activities | $20,054 | $9,228 | | Net cash provided by (used in) investing activities | $(18,606) | $12,613 | | Net cash provided by (used in) financing activities | $(12,962) | $(5,204) | | Net (decrease) increase in cash | $(11,514) | $16,637 | [Supplementary Information](index=9&type=section&id=Supplementary%20Information) This section provides GAAP to non-GAAP reconciliations and historical key business metrics, showing positive momentum in ARR and NRR [Reconciliation of GAAP to Non-GAAP Data](index=9&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Data) Reconciliations detail adjustments, primarily **$25.3 million** for stock-based compensation, converting GAAP losses to non-GAAP operating loss of **$(1.5) million** and net income of **$1.0 million** Reconciliation of Operating Loss (Q2 2025) | Reconciliation of Operating Loss (Q2 2025, in thousands $) | Amount (in thousands $) | | :--- | :--- | | GAAP loss from operations | $(27,094) | | Plus: Stock-based compensation expense | $25,307 | | Plus: Amortization of acquired intangible assets | $312 | | **Non-GAAP income (loss) from operations** | **$(1,475)** | Reconciliation of Free Cash Flow (Q2 2025) | Reconciliation of Free Cash Flow (Q2 2025, in thousands $) | Amount (in thousands $) | | :--- | :--- | | Net cash provided by operating activities | $20,054 | | Less: Purchases of property and equipment | $(538) | | Less: Capitalization of internal-use software costs | $(1,348) | | **Free cash flow** | **$18,168** | [Historical Key Business Metrics](index=11&type=section&id=Historical%20Key%20Business%20Metrics) Key business metrics show consistent growth, with ARR reaching **$335 million** and NRR recovering to **104%** in Q2 2025 Annual Recurring Revenue (ARR) | Quarter Ended | Annual Recurring Revenue (ARR) ($M) | | :--- | :--- | | Mar 31, 2024 | $285 | | Jun 30, 2024 | $290 | | Sep 30, 2024 | $298 | | Dec 31, 2024 | $312 | | Mar 31, 2025 | $320 | | Jun 30, 2025 | $335 | Dollar-based Net Retention Rate (NRR) | Quarter Ended | Dollar-based Net Retention Rate (NRR) (%) | | :--- | :--- | | Mar 31, 2024 | 97% | | Jun 30, 2024 | 96% | | Sep 30, 2024 | 98% | | Dec 31, 2024 | 100% | | Mar 31, 2025 | 101% | | Jun 30, 2025 | 104% |

1、Wix.com——估值不高，对下半年展望持保守态度，但Q1新用户群增长加速、新产品周期(Wix Studio、AI导入)带来助力。大摩对该股的股票评级为"增持"，目标价为207美元。这一目标价较该股7月 21日收盘价153.96美元有34%的上涨空间。 2、HubSpot——渠道调查显示Q2业绩与Q1类似，尽管估值溢价压缩，但多项增长杠杆可推动中短期增 长。大摩对该股的股票评级为"增持"，目标价为752美元。这一目标价较该股7月21日收盘价546.64美元 有38%的上涨空间。 3、Klaviyo——Q2指引保守，但电商需求及中小企业支出数据健康，令业绩有望在市场预期偏低背景下 超预期。大摩对该股的股票评级为"持股观望"，目标价为40美元。这一目标价较该股7月21日收盘价 32.51美元有23%的上涨空间。 4、Amplitude——产品组合扩张有望提升份额，且生成式AI推动数字产品创作节奏加快，可能改善终端 市场敞口。大摩对该股的股票评级为"持股观望"，目标价为12美元。这一目标价较该股7月21日收盘价 12.62美元有5%的下行空间。 大摩指出，SaaS类股票年初至今大幅落后于更广泛的软件行业，主要原 ...

Core Viewpoint - Amplitude is positioned to leverage AI technology to enhance its product analytics offerings, showing signs of recovery and growth after a challenging period in the tech industry [2][3][5]. Group 1: Company Performance - Amplitude's stock has surged 56% over the last year, indicating positive investor sentiment and momentum in its product lineup [3]. - The company reported 12% annual recurring revenue growth and 10% overall revenue growth in its first quarter, marking an improvement from previous years [9]. - Remaining performance obligations increased by 30% to $325.9 million, suggesting customers are committing to longer contracts, which is a positive indicator of growth momentum [9]. Group 2: AI Integration - Amplitude introduced new AI agents in June that automate data insights, enhancing the value of its product analytics tools [6]. - The company acquired Kraftful, an AI-native Voice of the Customer start-up, to utilize its large language model for processing user feedback data, further increasing the value of its offerings [8]. - Specific AI agent templates include website conversion agents, onboarding agents, feature adoption agents, and monetization agents, aimed at improving online engagement [7]. Group 3: Market Position - Amplitude has a customer base of over 4,000, including 27% of the Fortune 100, demonstrating its ability to attract large enterprises [10]. - The company was rated No. 1 in product analytics by G2 and has gained market share from larger competitors like Google Analytics and Adobe Analytics, which focus more on marketing analytics [11]. - With a market cap of approximately $1.5 billion, Amplitude has significant upside potential, especially if its new AI agents gain traction [11].

Company Overview - Amplitude, Inc. (AMPL) is experiencing significant activity in the options market, particularly with the July 18, 2025 $7.50 Put option showing high implied volatility, indicating potential for a major price movement [1] Implied Volatility Insights - Implied volatility reflects market expectations for future stock movement, suggesting that investors anticipate a significant change in Amplitude's stock price, possibly due to an upcoming event [2] Analyst Sentiment - Amplitude holds a Zacks Rank 2 (Buy) in the Technology Services industry, which is in the top 16% of the Zacks Industry Rank. However, over the past 60 days, no analysts have raised their earnings estimates for the current quarter, while three have lowered them, resulting in a consensus estimate adjustment from earnings of 1 cent per share to breakeven [3] Trading Strategy Implications - The high implied volatility may indicate a developing trading opportunity, as options traders often seek to sell premium on options with elevated implied volatility, aiming to benefit from the stock not moving as much as anticipated by expiration [4]

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Amplitude, Inc. (AMPL) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.Amplitude, Inc. is a member of our Business Services group, wh ...

Core Insights - AI stocks have rebounded in May after a decline in April, with companies like Nvidia nearing all-time highs and Palantir setting a new record [1][2] Group 1: AI Market Overview - Investors are shifting focus back to the AI boom, with major tech firms investing tens of billions into new data centers for AI programs [2] - Despite the recovery, some AI stocks remain undervalued, presenting potential buying opportunities [2] Group 2: Amplitude - Amplitude, a software-as-a-service company specializing in product analytics, has seen a slowdown after its pandemic-driven growth [4] - The company has enhanced its platform to include tools for customer insights, such as guides, surveys, and session replay features [5] - On June 10, Amplitude will launch AI agents to provide insights and suggest improvements for customers, potentially increasing its market share against competitors like Google Analytics and Adobe Analytics [6][7] - Amplitude's market cap is currently $1.6 billion, and the stock is down 85% from its all-time high [7] Group 3: Upstart - Upstart, which experienced a surge in 2021, faced challenges due to rising interest rates and recession fears, impacting its credit platform [8] - The company's latest AI model, Model 18, enhances credit risk assessment, resulting in fewer defaults and higher approval rates [9] - Financial results show a 67% revenue increase to $213 million in Q1, with adjusted EBITDA of $42.6 million, a significant improvement from a loss a year ago [10] - Upstart is expanding into the auto and home loan markets, with auto loan origination growing fivefold and home loan originations increasing sixfold year-over-year [11] - The stock is down 44% from its 52-week high and 87% from its all-time peak, but AI-driven improvements suggest it may be a smart investment [12]

Core Insights - Amplitude's stock price increased by 35% in May, driven by a strong first-quarter earnings report and positive macroeconomic conditions [2][4] - The company reported a 10% revenue growth to $80 million, surpassing estimates, and achieved break-even adjusted earnings per share [5] - Amplitude's upcoming AI agent launch on June 10 is anticipated to enhance its competitive position [9] Financial Performance - Revenue for the quarter rose to $80 million, slightly above the estimated $79.76 million [5] - Remaining performance obligations (RPO) increased by 30% to $325.9 million, indicating longer customer contracts and increased confidence [5] - The company is targeting full-year revenue between $329 million and $333 million, reflecting a 10.6% increase at the midpoint [9] Market Dynamics - Amplitude's stock surged 19% on May 8 following the earnings report, indicating strong market reaction [4] - The stock gained an additional 13% on May 12 after the U.S. and China agreed to lower tariff rates, which positively impacts the overall economic outlook [7] - The broader recovery in the stock market, alongside fading recession fears, has contributed to Amplitude's stock performance [1][2] Product Development - Amplitude has introduced new features such as Session Replay and Guides & Surveys, enhancing its product analytics platform [6] - The upcoming AI agent is expected to be a significant development for the company, potentially differentiating it from competitors [9] - The company is experiencing traction with its customer base and product suite post-pandemic, with a large addressable market still available [10]

Core Insights - The article compares two Technology Services stocks, Acuity (AYI) and Amplitude, Inc. (AMPL), to determine which is more attractive to value investors [1] Valuation Metrics - Both AYI and AMPL currently hold a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions for both companies [3] - AYI has a forward P/E ratio of 15.51, while AMPL has a significantly higher forward P/E of 178.74 [5] - AYI's PEG ratio is 1.55, suggesting a more favorable valuation relative to its expected earnings growth, compared to AMPL's PEG ratio of 4.31 [5] - AYI's P/B ratio stands at 3.25, while AMPL's P/B ratio is 4.37, further indicating AYI's relative undervaluation [6] Value Grades - AYI has a Value grade of B, whereas AMPL has a Value grade of F, highlighting AYI as the superior value option based on the discussed metrics [6]