Third Quarter 2026
Filed Nov 4, 2026Third quarter revenue of $110.6 million, up 25% year-over-year; Annual Recurring Revenue of $431 million, up 24% year-over-year; and Free Cash Flow of $5.8 million.
Revenue, ARR, RPO, operating cash flow and free cash flow all grew year-over-year, while non-GAAP operating income reached $5.7 million and non-GAAP operating margin was 5.1%. GAAP gross margin declined to 67.2% from 73.9%, and the company remained GAAP unprofitable.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Annual Recurring Revenue (ARR)other | $431M | – | 24% |
| Remaining Performance Obligationsother | $497M | – | 27% |
| RevenueGAAP | $110.6M | – | 25% |
| Cost of revenueGAAP | $36.25M | – | – |
| Gross profitGAAP | $74.39M | – | – |
| Gross marginGAAP | 67.2% | – | – |
| Gross profitnon-GAAP | $77.03M | – | – |
| Gross marginnon-GAAP | 69.6% | – | – |
| Research and developmentGAAP | $33.51M | – | – |
| Sales and marketingGAAP | $48.30M | – | – |
| General and administrativeGAAP | $17.21M | – | – |
| Total operating expensesGAAP | $99.02M | – | – |
| Research and developmentnon-GAAP | $22.12M | – | – |
| Sales and marketingnon-GAAP | $37.39M | – | – |
| General and administrativenon-GAAP | $11.88M | – | – |
| Loss from operationsGAAP | −$24.6M | – | $1.1 million |
| Operating marginGAAP | (22.3)% | – | – |
| Income from operationsnon-GAAP | $5.7M | – | $5.1 million |
| Operating marginnon-GAAP | 5.1% | – | – |
| Net lossGAAP | −$24.52M | – | – |
| Net loss per share, basic and dilutedGAAP | $(0.19) | – | $(0.01) |
| Net incomenon-GAAP | $5.75M | – | – |
| Net income per share, basicnon-GAAP | $0.05 | – | – |
| Net income per share, dilutednon-GAAP | $0.04 | – | $0.02 |
| Weighted-average shares used in GAAP and non-GAAP per share calculation, basicother | 125,988 | – | – |
| Weighted-average shares used in GAAP and non-GAAP per share calculation, dilutedother | 138,397 | – | – |
| Stock-based compensation expenseother | $28.8M | – | – |
| Amortization of acquired intangible assetsother | $1.2M | – | – |
| Impairment of capitalized softwareother | $300K | – | – |
| Net cash provided by operating activitiesGAAP | $7.1M | – | $2.1 million |
| Net cash provided by operating activities marginGAAP | 6.4% | – | – |
| Free cash flownon-GAAP | $5.8M | – | $2.4 million |
| Free cash flow marginnon-GAAP | 5.2% | – | – |
| Dollar-based Net Retention Rate (NRR)other | 103% | – | – |
| Dollar-based Net Retention Rate (NRR TTM)other | 104% | – | – |
| Pro Forma NRRother | 105% | – | – |
| Pro Forma NRR TTMother | 105% | – | – |
| Customers with $100,000 or greater in ARRother | 855 | – | 31% year-over-year growth |
| Nine Months Ended September 30, 2026 RevenueGAAP | $305.0M | – | – |
| Nine Months Ended September 30, 2026 Gross profitGAAP | $211.8M | – | – |
| Nine Months Ended September 30, 2026 Gross marginGAAP | 69.4% | – | – |
| Nine Months Ended September 30, 2026 Loss from operationsGAAP | −$83.94M | – | – |
| Nine Months Ended September 30, 2026 Income from operationsnon-GAAP | $1.90M | – | – |
| Nine Months Ended September 30, 2026 Operating marginnon-GAAP | 0.6% | – | – |
| Nine Months Ended September 30, 2026 Net lossGAAP | −$82.42M | – | – |
| Nine Months Ended September 30, 2026 Net incomenon-GAAP | $3.42M | – | – |
| Nine Months Ended September 30, 2026 Net cash provided by operating activitiesGAAP | $21.10M | – | – |
| Nine Months Ended September 30, 2026 Free cash flownon-GAAP | $16.38M | – | – |
Fourth Quarter 2026 and Full Year 2026 outlook
- RevenueFourth Quarter 2026: $110.8 - $113.2 million; Full Year 2026: $415.8 - $418.2 million
- NoteNon-GAAP Operating Income: Fourth Quarter 2026: $7.0 - $9.0 million; Full Year 2026: $8.9 - $10.9 million
- NoteNon-GAAP Net Income Per Share, diluted: Fourth Quarter 2026: $0.05 - $0.06; Full Year 2026: $0.07 - $0.09
- NoteWeighted Average Shares Outstanding: Fourth Quarter 2026: 142.5 million, diluted; Full Year 2026: 139.0 million, diluted
Capital returns
- Nine months ended September 30, 2026 repurchase of common stock: $(89,461) (In thousands).
- Nine months ended September 30, 2026 excise tax paid on share repurchases: $(663) (In thousands).
- Three months ended September 30, 2026 repurchase of common stock: — (In thousands).
- Three months ended September 30, 2026 excise tax paid on share repurchases: $(663) (In thousands).
What drove it
- ARR was $431 million, up 24% year-over-year, and remaining performance obligations were $497 million, up 27% year-over-year.
- The number of customers with $100,000 or greater in ARR increased to 855, a 31% year-over-year growth.
- Agent Analytics became generally available to all customers in August.
- Headless Amplitude was introduced in September, with access to AI tools including Claude, ChatGPT, Codex, and Cursor.
- Amplitude highlighted a workflow connecting Amplitude Wave, currently in closed beta, with GitHub Copilot and Statsig, and expanded Statsig Agent experimentation.
Concerns
- GAAP gross margin was 67.2%, compared with 73.9% in the third quarter of 2025.
- GAAP loss from operations was $(24.6) million and GAAP net loss was $(24,524) (In thousands).
- Dollar-based NRR was 103%, compared with 104% as of September 30, 2025, while NRR TTM was 104%, compared with 105% as of June 30, 2026.
- Cash and cash equivalents were $58,856 (In thousands) as of September 30, 2026, compared with $81,119 (In thousands) as of December 31, 2025.
- The company cited risks including customer retention and expansion, attracting new customers, sales-cycle variability, competition, IT-spending conditions, and evolving privacy and other data-related laws.
What to watch
- Fourth Quarter 2026 revenue outlook of $110.8 - $113.2 million.
- Fourth Quarter 2026 non-GAAP operating income outlook of $7.0 - $9.0 million.
- Full Year 2026 revenue outlook of $415.8 - $418.2 million and non-GAAP operating income outlook of $8.9 - $10.9 million.
- ARR, RPO, dollar-based NRR, Pro Forma NRR and growth in customers with $100,000 or greater in ARR.
- The impact of Agent Analytics, Headless Amplitude, Amplitude Wave, GitHub Copilot integration and Statsig Agent experimentation on customer use and enterprise consolidation.
Balance sheet and cash flow
- Cash and cash equivalents as of September 30, 2026: $58,856 (In thousands), compared with $81,119 (In thousands) as of December 31, 2025.
- Marketable securities, current as of September 30, 2026: $81,660 (In thousands), compared with $110,882 (In thousands) as of December 31, 2025.
- Marketable securities, non-current as of September 30, 2026: $13,771 (In thousands), compared with $60,543 (In thousands) as of December 31, 2025.
- Cash, cash equivalents, and restricted cash at end of the period: $59,758 (In thousands), compared with $83,108 (In thousands).
- Total assets as of September 30, 2026: $356,672 (In thousands), compared with $420,684 (In thousands) as of December 31, 2025.
- Total liabilities as of September 30, 2026: $228,795 (In thousands), compared with $175,338 (In thousands) as of December 31, 2025.
- Deferred revenue as of September 30, 2026: $166,001 (In thousands), compared with $121,888 (In thousands) as of December 31, 2025.
- Nine months ended September 30, 2026 net cash provided by investing activities: $69,578 (In thousands), compared with net cash used in investing activities of $(66,826) (In thousands).
- Nine months ended September 30, 2026 net cash used in financing activities: $(112,893) (In thousands), compared with $(39,614) (In thousands).
Analysis
Amplitude reported $110.6 million of third-quarter revenue, up 25% year-over-year, alongside ARR of $431 million, up 24%, and remaining performance obligations of $497 million, up 27%. The company also reported 855 customers with $100,000 or greater in ARR, a 31% year-over-year increase. Dollar-based NRR was 103%, versus 104% a year earlier, while NRR TTM was 104% versus 105% at June 30, 2026.
Profitability improved on a non-GAAP basis. Non-GAAP income from operations increased to $5.7 million from $0.6 million and non-GAAP operating margin rose to 5.1% from 0.6%. GAAP loss from operations narrowed to $(24.6) million from $(25.7) million. The improvement occurred despite lower gross margins: GAAP gross margin was 67.2%, versus 73.9%, and non-GAAP gross margin was 69.6%, versus 75.9%.
Cash generation strengthened in the quarter. Net cash provided by operating activities was $7.1 million, compared with $5.0 million, and free cash flow was $5.8 million, compared with $3.4 million. For the first nine months, operating cash flow was $21,104 (In thousands) and free cash flow was $16,379 (In thousands). Cash and cash equivalents were $58,856 (In thousands) at September 30, 2026, and the company used $(89,461) (In thousands) for common-stock repurchases in the first nine months.
The fourth-quarter outlook calls for revenue of $110.8 - $113.2 million and non-GAAP operating income of $7.0 - $9.0 million. Full-year revenue is guided to $415.8 - $418.2 million, with non-GAAP operating income of $8.9 - $10.9 million. Management emphasized its AI offerings, including Agent Analytics, Headless Amplitude and Statsig Agent experimentation, as well as a strategy to drive enterprise consolidation through the platform.
Management, verbatim
We continue to innovate on the bleeding edge and help our customers transform themselves into AI-powered product builders. The pace of building and shipping code continues to increase, but the context of what to build next continues to be the bottleneck. Amplitude, Statsig, and our AI products are helping companies bridge that gap to understand what to build next.
Spenser Skates, co-founder and CEO of Amplitude
Our customers are using more of our AI solutions and looking to us to learn how to engage AI to accelerate their own development.
Spenser Skates, co-founder and CEO of Amplitude
We delivered another quarter of growth with leverage achieving revenue growth of 25% with our highest non-GAAP operating margin in company history.
Andrew Casey, CFO of Amplitude
Not in the filing
stated, not guessed- Prior-period outlook was not provided; therefore, no comparison of actual results with prior guidance is available.
- Segment revenue and segment profitability were not reported.
- Debt balances were not reported.
- Dividend amounts were not reported.
- GAAP operating income or loss, GAAP net income or loss, GAAP EPS, gross margin, operating-expense and tax-rate outlook were not provided.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.