Amplitude Q1 Earnings Call Highlights

Key Points

• Amplitude reported Q1 revenue of $94 million (up 17% YoY) and exited the quarter with $374 million ARR (up 17% YoY), with 727 customers >$100k ARR, dollar-based net expansion at 106%, and RPO up 31% to $427 million.
• Management is “aggressively transforming” the company into an AI firm—reorganizing go-to-market teams, hiring a new CPO, and launching products like Agent Analytics, AI Assistant and CLI Wizard—but rising inference costs have compressed gross margin to 75% (down 2 pts) and are expected to pressure near-term margins.
• Amplitude struck a strategic partnership to take on Statsig’s brand and customers (described as a partnership, not an acquisition), which will add about $16 million incremental ARR starting in May and is forecast to contribute $5–7 million of revenue for the year, though accounting fair-value adjustments could reduce near-term reported revenue versus ARR.

Amplitude NASDAQ: AMPL executives highlighted first-quarter fiscal 2026 results, accelerating AI-focused product development, and a newly announced strategic partnership involving Statsig during the company’s earnings call.

First-quarter results show ARR growth and improving expansion

CEO Spenser Skates said Amplitude delivered $94 million in Q1 revenue, up 17% year-over-year, and exited the quarter with $374 million in annual recurring revenue (ARR), also up 17% year-over-year and up $9 million sequentially. Skates added that customers with more than $100,000 in ARR increased to 727, representing 18% year-over-year growth.

CFO Andrew Casey reported revenue of $93.5 million for the quarter and said the company’s “incremental improvement” included dollar-based net expansion rising sequentially to 106%. Casey also said total remaining performance obligations (RPO) increased 31% year-over-year to $427 million, with current RPO up 20% and long-term RPO up 60%.

On profitability, Casey said non-GAAP operating loss was $3.1 million, or 3.3% of revenue, and non-GAAP net loss was $0.02 per share based on 133.3 million basic shares. Free cash flow was negative $13.2 million, or negative 14% of revenue.

AI transformation drives organizational and product changes

Skates said he is “aggressively transforming Amplitude into an AI company,” describing go-to-market leadership and organizational changes intended to make the team more technical. He said Nate Crook is now chief commercial officer, overseeing sales, customer success, revenue operations, and enablement, with responsibility spanning “the entire path from landing a customer to ensuring they succeed long term.”

Skates also said Amplitude restructured customer success and marketing “to match customer buying trends,” including adding “forward-deployed engineers” and orienting marketing around “AI native storytelling.” He noted the company recently hired Gab Menachem as chief product officer.

As part of internal AI adoption, Skates described an “AI Week” where Amplitude paused normal work to build AI-powered workflows, resulting in “hundreds of demos,” including automating parts of the quarter close process and marketing asset creation.

Statsig partnership: brand and customers transition to Amplitude

Amplitude announced a strategic partnership with Statsig in which Amplitude will “take on Statsig’s brand and customers,” Skates said. He added that Amplitude will maintain and develop the existing Statsig platform across cloud and data warehouse deployments, support existing customers, and build “a more integrated roadmap for the future of Amplitude and Statsig platforms together.”

Addressing investor questions about OpenAI’s role, Skates said OpenAI will continue to run Statsig’s technology internally and that the Statsig team at OpenAI will support those internal uses. Casey characterized the arrangement as “a partnership, not an acquisition,” while stating Amplitude is taking on Statsig customer contracts, brand assets, and increasing development on the product.

Casey said that in Q2 the company will begin including Statsig customers and technology as of the beginning of May, and will record “an additional $16 million in incremental ARR” from the Statsig customer base. For full-year guidance, he said Amplitude’s outlook assumes a $5 million to $7 million revenue contribution from the Statsig business, noting accounting impacts from fair value assessment could reduce revenue relative to ARR.

New AI products and rising inference costs pressure gross margin

Skates spent much of the call describing new AI capabilities aimed at “closing the product development loop,” including Agent Analytics, updates to Amplitude’s Global Agent, and MCP connectors designed to connect analysis to downstream actions.

Among the new offerings, Skates introduced:

• Agent Analytics, which he said provides visibility into agent interactions and runs evaluators to judge performance across metrics like user satisfaction and task completion.
• AI Assistant, described as a real-time chatbot that can create “visually guided” product tours based on user context, which Skates said is “live for customers to purchase today.”
• CLI Wizard, which Skates said reduces Amplitude installation to “one line of code,” automating instrumentation and initial setup.

Casey said gross margin was 75%, down two points year-over-year, largely driven by “growth in our inference costs” as customer adoption of AI tools “outpaced our expectations.” He added the company expects the adoption trend to continue and that the near-term impact will be “gross margin compression,” while the company expects it to drive greater data ingestion and monetization over time.

In Q&A, Skates said customers often want “the bleeding edge” models for better accuracy, while acknowledging the company expects to optimize model choice over time, including exploring cheaper models where appropriate.

Customer examples and platform adoption trends

Skates cited several customer examples of AI-native and enterprise adoption, including Granola, Smartsheet, and Astra Tech. He said Astra Tech used Amplitude to support Botim and Botim Money’s evolution into an “AI native fintech super app,” and shared outcomes he attributed to a nine-month revamp, including a 4% increase in fintech service entries and a three-times increase in fintech transacting users.

On platform adoption, Casey said multi-product accounts represent more than 77% of ARR, with customers having five or more products accounting for 24% of ARR, up from 20% in the prior quarter. He also said 47% of customers now use multiple products, compared with 30% a year ago.

Casey discussed a shift in the quarter toward expansions, saying that quarter-to-quarter variations between new logo and expansion activity can affect the relationship between ARR growth and net retention trends.

Outlook includes Statsig contribution and continued investment

For the second quarter of fiscal 2026, Casey guided revenue to $96.9 million to $99.1 million, implying 18% annual growth at the midpoint. He guided non-GAAP operating income to a loss of $3.6 million to $1.6 million and non-GAAP net income per share of negative $0.02 to negative $0.01, assuming approximately 134 million basic weighted average shares outstanding.

For the full year, Casey guided revenue to $397 million to $403 million, representing 17% growth at the midpoint, and said the outlook includes incremental investment to incorporate the Statsig business. He guided full-year non-GAAP operating income of $2.5 million to $6.5 million and non-GAAP net income per share of $0.03 to $0.06 on approximately 145.1 million fully diluted weighted average shares.

Management also pointed to continued changes in pricing and packaging. Casey said 25% of total ARR contracted in Q1—across new business and renewals—was under the new pricing and packaging, and he expects that percentage to increase as the company avoids forced migrations and instead “show[s] them the value.”

About Amplitude NASDAQ: AMPL

Amplitude, Inc is a software company specializing in digital analytics and product intelligence solutions for businesses seeking to optimize user engagement and drive growth. Its core offering, the Amplitude Analytics platform, enables customers to collect and analyze behavioral data from web and mobile applications in real time. The platform provides advanced segmentation, funnel analysis, retention tracking and pathfinding tools that help product, marketing and data teams understand user journeys, identify friction points and measure the impact of new features.

Founded in 2012 by Spenser Skates, Curtis Liu and Jeffrey Wang, Amplitude is headquartered in Redwood City, California, with additional offices spanning North America, Europe and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.