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Earnings To Watch: Amplitude (AMPL) Reports Q2 Results Tomorrow


Kayode Omotosho /
2022/08/02 4:15 am EDT
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Data analytics software provider Amplitude (NASDAQ:AMPL) will be announcing earnings results tomorrow after market hours. Here's what you need to know.

Last quarter Amplitude reported revenues of $53 million, up 46.6% year on year, beating analyst revenue expectations by 4.52%. It was a solid quarter for the company, with an exceptional revenue growth and a decent beat of analyst estimates. The company added 104 customers to a total of 1,701.

Is Amplitude buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Amplitude's revenue to grow 40.6% year on year to $55.2 million, slowing down from the 65.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.12 per share.

Amplitude Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time since going public on average by 4.72%.

Looking at Amplitude's peers in the data and analytics software segment, only Commvault Systems has so far reported results, delivering top-line growth of 7.93% year on year, and beating analyst estimates by 1.41%. The stock traded flat on the results. Read our full analysis of Commvault Systems's earnings results here.

The fears around raising interest rates have been putting pressure on tech stocks and while some of the software stocks have fared somewhat better, they have not been spared, with share price declining 3.08% over the last month. Amplitude is down 8.27% during the same time, and is heading into the earnings with analyst price target of $23, compared to share price of $14.52.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

The author has no position in any of the stocks mentioned.