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As the Q3 earnings season wraps, let's dig into this quarter's best and worst performers in the data analytics industry, including Amplitude (NASDAQ:AMPL) and its peers.
Organizations generate a lot of data that is stored in silos, often in incompatible formats, making it slow and costly to extract actionable insights, which in turn drives demand for modern cloud-based data analysis platforms that can efficiently analyze the siloed data.
The 6 data analytics stocks we track reported a mixed Q3. As a group, revenues beat analysts' consensus estimates by 1.1% while next quarter's revenue guidance was 0.9% above.
Thankfully, share prices of the companies have been resilient as they are up 6.5% on average since the latest earnings results.
Born out of a failed voice recognition startup by founder Spenser Skates, Amplitude (NASDAQ:AMPL) is data analytics software helping companies improve and optimize their digital products.
Amplitude reported revenues of $75.22 million, up 6.5% year on year. This print exceeded analysts' expectations by 1.5%. Overall, it was a satisfactory quarter for the company with an impressive beat of analysts' EBITDA estimates but a significant miss of analysts' billings estimates.
⁘We are on the path to reaccelerating growth,⁘ said Spenser Skates, CEO and co-founder of Amplitude.
The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $10.60.
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