Kessler Topaz is investigating potential claims on behalf of purchasers of Amplitude, Inc. (NASDAQ: AMPL) (“Amplitude”) related to potential violations of federal securities laws. Amplitude provides digital analytic platforms to analyze customer behavior within digital products and customer support services related to initial implementation setup, ongoing support and application training.
On February 16, 2022, Amplitude released its fourth-quarter and fiscal year 2021 financial results and 2022 outlook. In the results, Amplitude revealed weaker-than-expected and disappointing revenue guidance for 2022. Specifically, Amplitude guided for 2022 growth to be 35% to 40%, despite previously forecasting revenue growth to be at least 40%. In discussing the lowered guidance, Amplitude’s CFO noted that there was some uncertainty around the timing of customer expansions and that some growth may have been influenced by Covid. Additionally, Amplitude disclosed that its “initial revenue guidance for 2022 is $226 million to $234 million,” versus the estimate of $235.93 million, “which represents a growth rate of 37% at the midpoint and approximately 40% on the high end.”
Following this news, the price of Amplitude’s stock fell over 50%, to close at $17.10 on February 17, 2022.
If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.