AMPLAmplitude, Inc.
Services-Prepackaged Software
- Revenue
- $343M
- 15% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $2.2B
- Employees
- 437
- $785K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 34.6
- mentions per 10K words
Takeover score 5 of 13
Fixable underperformance 3 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$450K medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes27% of revenueOver 10% of revenue
- Payouts exceed cash flowYes103% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo7% of assetsOver 40% of assets
- Shareholder dissentNo91% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$785K · 72nd pctBottom quartile of its SIC industry
- Quiet on AINo34.6 per 10K words · 100th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$2.2B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$15M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $167M | $238M | $276M | $299M | $343M | 15% |
| Net income | −$75M | −$93M | −$90M | −$94M | −$89M | 6.1% |
| Operating cash flow | −$32M | −$5M | $26M | $19M | $30M | 61% |
| Capex | $2M | $4M | $1M | $2M | $2M | 6.0% |
| Stock-based comp | $34M | $67M | $88M | $100M | $92M | 7.9% |
| Buybacks | — | — | $648K | $0 | $31M |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Feb 25, 2025 | SC US (TTGP), LTD. | SCHEDULE 13D/A | 2.6% | Passive |
| Nov 14, 2023 | SC US (TTGP), LTD. | SC 13D/A | 11.2% | Passive |
| Feb 22, 2023 | SC US (TTGP), LTD. | SC 13D/A | 12.7% | Passive |
| Aug 10, 2022 | SC US (TTGP), LTD. | SC 13D/A | 3.7% | Passive |
| May 2, 2022 | SC US (TTGP), LTD. | SC 13D/A | 16.0% | Passive |
| Mar 7, 2022 | SC US (TTGP), LTD. | SC 13D | 4.1% | Passive |
Insider trading
- Open-market buys, 12 mo
- $300K · 1
- Open-market sells, 12 mo
- $15M · 19
- Net
- −$15M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $789K | $789K | 21 | 67 |
| FY2024 | $394K | −$342K | 19 | 66 |
| FY2023 | $300K | $147K | 23 | 61 |
| FY2022 | $450K | −$70M | 22 | 44 |
| FY2021 | $450K | $102M | 97 | 90 |