AMPL - This AI Stock Is Turning the Corner. Is It Time to Buy?
2023-08-11 06:49:00 ET
Amplitude (NASDAQ: AMPL) went public in September 2021, right before the Nasdaq peaked and tech stocks started to crash.
The software-as-a-service (SaaS) stock focused on digital optimization is still down substantially since its initial public offering, but the company's second-quarter earnings report shows the stock may have put the worst of the sell-off behind it as the stock was up 7.7% after hours on Tuesday.
Revenue in the quarter rose 17% to $67.8 million, topping analyst estimates at $67 million and the company's own guidance. Paying customers grew 28% to 2,344, outpacing revenue, due in part to a change in its pricing model. Dollar-based net retention rate in the quarter was 101%, showing expansions have slowed significantly, coming in nearly flat.
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This AI Stock Is Turning the Corner. Is It Time to Buy?