Amplitude (AMPL) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was $93.5M, up 17% year-over-year, with ARR at $374M, also up 17% year-over-year and $9M sequentially, driven by strong enterprise and multi-product adoption.

• Dollar-based net retention rate improved to 106% from 101% in Q1 2025, with 727 customers over $100K ARR, up 18% year-over-year, and 47% of customers using more than one product.

• The company is aggressively transforming into an AI-first organization, restructuring leadership, launching new AI-powered products, and expanding internationally.

• Strategic partnership with Statsig and acquisition of InfiniGrow Ltd. brought new customers, technology, and incremental ARR.

• Free cash flow was negative $13.2M, with net loss for Q1 2026 at $23.3M and non-GAAP net loss per share at $(0.02).

Financial highlights

• Gross margin was 73% GAAP and 75% non-GAAP, down from 75–77% year-over-year due to higher AI inference costs.

• Operating loss was $3.1M (3.3% of revenue) non-GAAP; net loss per share was $0.02 non-GAAP.

• Free cash flow margin was (14.1)% for the quarter.

• Cash and investments totaled $214M at quarter end.

• Multi-product accounts now represent 77% of ARR, up from 64% a year ago.

Outlook and guidance

• Q2 2026 revenue expected between $96.9M and $99.1M, 16–19% annual growth.

• Full-year 2026 revenue expected between $397M and $403M, 16–17% annual growth, including $5M–$7M from Statsig.

• Non-GAAP operating income for the year expected between $2.5M and $6.5M; non-GAAP net income per share between $0.03 and $0.06.

• Guidance incorporates incremental Statsig operating expenses and fair value revenue adjustments.

• Management expects continued investment in product development, sales, and international expansion, which may pressure margins short-term.