Amplitude: Expanding Long Term RPOs And Multi-Product Deals

May 17, 2025 9:52 AM ETAmplitude, Inc. (AMPL) StockAMPL
Gary Alexander
31.31K Followers

Summary

  • Shares of Amplitude have rallied after an excellent recent Q1 earnings, yet the stock remains widely undervalued relative to peers.
  • The company raised its full year growth outlook in a tough macro, which provides validation for its recent push into upmarket enterprise clients.
  • Long-term RPO growth is triple the rate of revenue growth, laying a foundation for a healthy growth trajectory from multi-product deals.
  • The stock’s ~4x forward revenue multiple sits below ~6x for similar growth peers.

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This article was written by

31.31K Followers
With combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 2017. He has been quoted in many web publications and his articles are syndicated to company pages in popular trading apps like Robinhood.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of AMPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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