Amplitude Posts Record Non-GAAP Operating Margin

The Tip Desk · November 11, 2026 · 3 min read

Revenue reached $110.6 million, up 25% from a year earlier, as non-GAAP operating income hit $5.7 million.

Amplitude, Inc. (AMPL), an AI-powered product-analytics platform, reported third-quarter revenue of $110.6 million, up 25% from a year earlier, as year-over-year growth accelerated from 21% in the second quarter and 17% in the first.

The company said non-GAAP income from operations was $5.7 million, or a 5.1% margin, its highest non-GAAP operating margin in company history, after a $1.5 million non-GAAP operating loss in the second quarter and a $3.1 million loss in the first. Chief financial officer Andrew Casey said the quarter combined 25% revenue growth with that record margin.

Annual recurring revenue was $431 million as of September 30, 2026, up 24% from a year earlier, after 22% growth in the second quarter and 17% in the first. Remaining performance obligations were $497 million, up 27% year-over-year. Customers with $100,000 or greater in ARR increased to 855, up 31% year-over-year.

GAAP loss from operations narrowed to $24.6 million from $25.7 million a year earlier. GAAP net loss was $0.19 a share on 126.0 million basic shares. Non-GAAP net income was $0.04 a share on 138.4 million diluted shares.

GAAP gross margin compressed to 67.2% from 73.9% a year earlier; non-GAAP gross margin was 69.6% versus 75.9%. GAAP sales and marketing expense was $48.3 million, essentially unchanged from a year earlier, and fell to 43.6% of revenue from 54.5%. Non-GAAP sales and marketing was $37.4 million. GAAP research and development was $33.5 million, or 30.3% of revenue. GAAP general and administrative was $17.2 million, or 15.6% of revenue.

Stock-based compensation expense and related employer payroll taxes were $28.8 million. Amortization of acquired intangible assets was $1.2 million. Impairment of capitalized software was $0.3 million.

Net cash provided by operating activities was $7.1 million. Free cash flow was $5.8 million.

Co-founder and chief executive Spenser Skates said customers were using more of the company’s AI solutions. The company made Agent Analytics generally available in August, introduced Headless Amplitude in September to put product and user context into tools such as Claude, ChatGPT, Codex, and Cursor, and highlighted a product-learning workflow with GitHub in October that connects Amplitude Wave, in closed beta, with GitHub Copilot and Statsig. It also expanded Statsig’s agent experimentation.

For the fourth quarter of 2026, Amplitude expects revenue of $110.8 million to $113.2 million, a modest sequential increase from the third-quarter result, and non-GAAP operating income of $7.0 million to $9.0 million. Non-GAAP net income is expected at $0.05 to $0.06 a share on 142.5 million diluted shares. For the full year, it expects revenue of $415.8 million to $418.2 million, non-GAAP operating income of $8.9 million to $10.9 million, and non-GAAP net income of $0.07 to $0.09 a share on 139.0 million diluted shares.