Amplitude (AMPL) Q4 2025 earnings summary

Executive summary

• Q4 revenue reached $91.4M, up 17% year-over-year, with annual revenue at $343.2M, up 15% year-over-year.

• Annual recurring revenue (ARR) grew to $366M, up 17% year-over-year, with enterprise and multi-product customers representing 74% of total ARR.

• Enterprise segment is the core growth engine, with enterprise ARR up 20% year-over-year and higher retention/expansion rates.

• AI-driven analytics, new agentic workflows, and product innovation accelerated adoption and customer value.

• Record full-year cash flow from operations of $29.8M and free cash flow of $23.5M were achieved.

Financial highlights

• Q4 non-GAAP operating income was $4.2M (4.6% of revenue), up from $0.2M a year ago; net income per share was $0.04, up from $0.02.

• Free cash flow in Q4 was $11.2M (12% of revenue), with full-year free cash flow at $24M (7% margin).

• Gross margin for Q4 was 76.5%, flat year-over-year and up one point sequentially.

• Net dollar retention improved to 105%, driven by cross-sell expansions and improved churn.

• Cash and investments totaled $253M at quarter end.

Outlook and guidance

• Q1 2026 revenue expected between $91.7M and $93.7M (16% annual growth at midpoint); non-GAAP operating income between -$4.5M and -$2.5M.

• FY 2026 revenue guidance is $390M–$398M (15% growth at midpoint); non-GAAP operating income expected between $7M and $13M.

• Non-GAAP net income per share for FY 2026 expected between $0.08 and $0.13.