Digital analytics platform Amplitude (NASDAQ: AMPL) will be announcing earnings results this Wednesday after market hours. Here’s what to expect.
Amplitude beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $83.27 million, up 13.6% year on year. It was a very strong quarter for the company, with accelerating customer growth and an impressive beat of analysts’ EBITDA estimates. It added 17 enterprise customers paying more than $100,000 annually to reach a total of 634.
Is Amplitude a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Amplitude’s revenue to grow 14.8% year on year to $86.34 million, improving from the 6.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amplitude has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.1% on average.
Looking at Amplitude’s peers in the data and analytics software segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Palantir Technologies delivered year-on-year revenue growth of 62.8%, beating analysts’ expectations by 8%, and Strategy reported revenues up 10.9%, topping estimates by 9.1%. Strategy traded up 6% following the results.
Read our full analysis of Palantir Technologies’s results here and Strategy’s results here.
Investors in the data and analytics software segment have had fairly steady hands going into earnings, with share prices down 1.2% on average over the last month. Amplitude is down 1.4% during the same time and is heading into earnings with an average analyst price target of $15.67 (compared to the current share price of $10.13).
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