Amplitude, Inc.
AMPL · Services-Prepackaged Software · 116.9M shares · +67%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$88M (gross $648K, SBC $88M)
Reference price $6.79 · est. market cap ~$794M — last insider sale, 2026-06-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C56Product-analytics SaaS — GAAP losses but positive free cash flow.
Strengths
- Positive free cash flow — FCF $28M (23rd), FCF margin 8%
- High gross margin — 74%
Risks
- GAAP losses — net margin -26%, ROE -36%
- Modest growth — +15%
- Competition — per 10-K
Notable findings
- Chronic dilutionShare count +67%/yr over 3y (dilution, book value/share -82%)
- Net lossNet loss (net margin -25.8%)
- Customer concentration~98% of revenue from one customer/distributor — For the year ended December 31, 2025, subscription revenue comprised of 98% of our total revenue
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $253M cash & investments
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- China exposure• We are subject to government regulation, including import, export control, economic sanctions, and trade sanctions, and anti-corruption laws and regulations, which may expose us to liability and inc
- Insider sellingInsider selling — 6 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$1M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
74.0%
Net margin
-25.8%
Return on equity
-36.1%
Return on assets
-21.0%
Revenue growth (QoQ)
2.3%
Current ratio
1.6×
Free cash flow
$28M
Tangible book value
$214M
Cash & investments
$253M
Stock comp / revenue
26.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | Wong Catherine | Sell | 7.5K | $6.79 |
| 2026-06-09 | Wong Catherine | Grant | 25K | — |
| 2026-06-09 | Grady Patrick W | Grant | 25K | — |
| 2026-06-09 | Schultz Erica | Grant | 25K | — |
| 2026-06-09 | Gill Ronald S | Grant | 25K | — |
| 2026-06-09 | Whitehurst James M | Grant | 25K | — |
| 2026-06-01 | Liu Curtis | Sell | 23K | $8.03 |
| 2026-06-01 | Liu Curtis | Sell | 22K | $8.03 |
| 2026-05-15 | Liu Curtis | Tax withheld | 40K | $6.06 |
| 2026-05-15 | Crook Nathaniel Glenn | Tax withheld | 101K | $6.06 |
| 2026-05-15 | Casey Andrew | Tax withheld | 65K | $6.06 |
| 2026-05-15 | Skates Spenser | Tax withheld | 40K | $6.06 |
| 2026-05-04 | Liu Curtis | Sell | 18K | $8.12 |
| 2026-04-21 | Skates Spenser | Grant | 1.3M | — |
| 2026-04-15 | Crook Nathaniel Glenn | Grant | 279K | — |
| 2026-04-15 | Crook Nathaniel Glenn | Grant | 975K | — |
| 2026-04-15 | Casey Andrew | Grant | 432K | — |
| 2026-04-15 | Liu Curtis | Grant | 418K | — |
| 2026-04-05 | Tzuo Tien | Grant | 1.5K | — |
| 2026-04-05 | Schultz Erica | Grant | 1.7K | — |
| 2026-03-06 | Liu Curtis | Sell | 33K | $8.01 |
| 2026-03-05 | Liu Curtis | Sell | 30K | $8.00 |
| 2026-02-15 | Casey Andrew | Tax withheld | 39K | $6.34 |
| 2026-02-15 | Liu Curtis | Tax withheld | 27K | $6.34 |
| 2026-02-15 | HANSEN THOMAS NEERGAARD | Tax withheld | 69K | $6.34 |
| 2026-01-05 | Tzuo Tien | Grant | 999 | — |
| 2025-12-26 | Skates Spenser | Conversion | 100 | — |
| 2025-12-26 | Skates Spenser | Sell | 100 | $12.00 |
| 2025-12-24 | Skates Spenser | Conversion | 43K | — |
| 2025-12-24 | Skates Spenser | Sell | 43K | $12.01 |
| 2025-12-15 | Schultz Erica | Option exercise | 10K | $4.19 |
| 2025-12-15 | Schultz Erica | Sell | 10K | $10.88 |
| 2025-11-17 | Schultz Erica | Option exercise | 10K | $4.19 |
| 2025-11-17 | Schultz Erica | Sell | 10K | $10.23 |
| 2025-11-15 | Casey Andrew | Tax withheld | 54K | $10.73 |
| 2025-11-15 | Liu Curtis | Tax withheld | 36K | $10.73 |
| 2025-11-15 | HANSEN THOMAS NEERGAARD | Tax withheld | 92K | $10.73 |
| 2025-11-11 | Skates Spenser | Conversion | 400K | — |
| 2025-11-11 | Skates Spenser | Sell | 400K | $10.99 |
| 2025-11-07 | Casey Andrew | Buy | 30K | $9.99 |
| 2025-10-15 | Schultz Erica | Option exercise | 10K | $4.19 |
| 2025-10-15 | Schultz Erica | Sell | 10K | $10.12 |
| 2025-10-05 | Tzuo Tien | Grant | 977 | — |
| 2025-09-15 | Schultz Erica | Option exercise | 10K | $4.19 |
| 2025-09-15 | Schultz Erica | Sell | 10K | $11.06 |
| 2025-08-15 | HANSEN THOMAS NEERGAARD | Tax withheld | 96K | $11.47 |
| 2025-08-15 | Casey Andrew | Tax withheld | 54K | $11.47 |
| 2025-08-15 | Liu Curtis | Tax withheld | 34K | $11.47 |
| 2025-08-15 | Schultz Erica | Option exercise | 7.5K | $4.19 |
| 2025-08-15 | Schultz Erica | Sell | 7.5K | $11.46 |
| 2025-07-15 | Schultz Erica | Sell | 7.5K | $12.56 |
| 2025-07-15 | Schultz Erica | Option exercise | 7.5K | $4.19 |
| 2025-07-05 | Tzuo Tien | Grant | 894 | — |
| 2025-06-12 | Gill Ronald S | Grant | 15K | — |
| 2025-06-12 | Vishria Eric | Grant | 15K | — |
| 2025-06-12 | Whitehurst James M | Grant | 15K | — |
| 2025-06-12 | Schultz Erica | Grant | 15K | — |
| 2025-06-12 | Wong Catherine | Grant | 15K | — |
| 2025-06-12 | Grady Patrick W | Grant | 15K | — |
| 2025-06-11 | Schultz Erica | Option exercise | 7.5K | $4.19 |
| 2025-06-11 | Schultz Erica | Sell | 26K | $12.49 |
| 2025-06-11 | Wong Catherine | Sell | 8.5K | $12.49 |
| 2025-05-19 | Wong Catherine | Sell | 3.5K | $11.75 |
| 2025-05-15 | Casey Andrew | Tax withheld | 54K | $12.14 |
| 2025-05-15 | Liu Curtis | Tax withheld | 26K | $12.14 |
| 2025-05-15 | HANSEN THOMAS NEERGAARD | Tax withheld | 96K | $12.14 |
| 2025-05-12 | Vishria Eric | Conversion | 1.7M | — |
| 2025-05-12 | Vishria Eric | Other | 1.7M | — |
| 2025-05-12 | Vishria Eric | Other | 78K | — |
| 2025-05-12 | Vishria Eric | Sell | 10K | $12.00 |
| 2025-05-08 | Vishria Eric | Sell | 25K | $10.15 |
| 2025-04-25 | HANSEN THOMAS NEERGAARD | Grant | 565K | — |
| 2025-04-25 | Casey Andrew | Grant | 160K | — |
| 2025-04-25 | Liu Curtis | Grant | 853K | — |
| 2025-04-05 | Vishria Eric | Grant | 643 | — |
| 2025-04-05 | Tzuo Tien | Grant | 398 | — |
| 2025-03-13 | Casey Andrew | Buy | 21K | $11.42 |
| 2025-03-11 | Wong Catherine | Sell | 3.5K | $12.04 |
| 2025-02-24 | Vishria Eric | Sell | 35K | $12.80 |
| 2025-02-22 | Tzuo Tien | Grant | 44K | — |
| 2025-02-20 | Vishria Eric | Conversion | 1.0M | — |
| 2025-02-20 | Vishria Eric | Other | 1.0M | — |
| 2025-02-20 | Vishria Eric | Other | 46K | — |
| 2025-02-15 | HANSEN THOMAS NEERGAARD | Tax withheld | 60K | $12.04 |
| 2025-02-15 | Casey Andrew | Tax withheld | 36K | $12.04 |
| 2025-01-28 | Vishria Eric | Sell | 3.6K | $12.00 |
| 2025-01-05 | Vishria Eric | Grant | 683 | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07510438 ↗ | AVS Pulse Intravascular Lithotripsy™ (Pulse IVL™) to Open Vessels With Calcific Walls and Enhance Vascular Compliance and Remodeling for Coronary Artery Disease Coronary Arterial Disease (CAD) | NA | Recruiting | 2026-12-01 |
| NCT06457685 ↗ | Amplitude Vascular Systems (AVS) Lithotripsy POWER PAD 2 Trial Peripheral Arterial Disease (PAD) | NA | Active Not Recruiting | 2026-03-01 |
| NCT05192473 ↗ | POWER: Pulse Intravascular Lithotripsy (Pulse IVL) to Open Vessels With Calcific Walls and Enhance Vascular Compliance and Remodeling Peripheral Arterial Disease | NA | Unknown | 2024-06-28 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-10 | Shareholder vote | filing ↗ |
| 2026-05-06 | ResultsExhibits | filing ↗ |
| 2026-02-24 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-02-18 | ResultsExhibits | filing ↗ |
| 2025-11-05 | ResultsExhibits | filing ↗ |
| 2025-08-06 | ResultsExhibits | filing ↗ |
| 2025-06-12 | Exec/director changeShareholder vote | filing ↗ |
| 2025-05-07 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-10 | 2026-06-09 | 0001193125-26-265850 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001193125-26-209631 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001193125-26-209264 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001193125-26-067137 ↗ |
| 10-K | 2026-02-19 | 2025-12-31 | 0001193125-26-057847 ↗ |
| 8-K | 2026-02-18 | 2026-02-18 | 0001193125-26-057052 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001193125-25-267492 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001193125-25-266930 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0000950170-25-104357 ↗ |
| 8-K | 2025-08-06 | 2025-08-06 | 0000950170-25-104010 ↗ |
| 8-K | 2025-06-12 | 2025-06-06 | 0001193125-25-139911 ↗ |
| 10-Q | 2025-05-07 | 2025-03-31 | 0000950170-25-065639 ↗ |