Data analytics software provider Amplitude (NASDAQ:AMPL) will be announcing earnings results tomorrow afternoon. Here's what to look for.
Amplitude met analysts' revenue expectations last quarter, reporting revenues of $72.62 million, up 9.2% year on year. It was an ok quarter for the company, with a decent beat of analysts' billings estimates but its net revenue retention rate in jeopardy. It added 247 customers to reach a total of 2,970.
Is Amplitude a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Amplitude's revenue to grow 6.2% year on year to $71.99 million, slowing from the 16.6% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.
The majority of analysts covering the company have 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 1.8% on average.
Looking at Amplitude's peers in the data and analytics software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Palantir delivered year-on-year revenue growth of 27.2%, beating analysts' expectations by 3.9%, and Commvault Systems reported revenues up 13.4%, topping estimates by 4.2%. Palantir traded up 10.3% following the results while Commvault Systems was also up 24.1%.
Read our full analysis of Palantir's results here and Commvault Systems's results here.
Growth stocks have seen elevated volatility as investors debate the Fed's monetary policy, and while some of the data and analytics software stocks have fared somewhat better, they have not been spared, with share prices down 4.8% on average over the last month. Amplitude is down 5% during the same time and is heading into earnings with an average analyst price target of $10.5 (compared to the current share price of $7.8).
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