Eric Vishria, a director at Amplitude, Inc. (NASDAQ:AMPL), recently sold a portion of his holdings in the company. According to a recent SEC filing, Vishria sold 6,437 shares of Amplitude's Class A Common Stock on December 13, 2024. The shares were sold at a weighted average price of $12.017, totaling approximately $77,353. The transaction comes as the $1.5 billion market cap company has seen its stock surge over 43% in the past six months.
These transactions were executed under a 10b5-1 trading plan that Vishria adopted earlier this year on March 1, 2024. Following the sale, Vishria retains ownership of 279,771 shares indirectly and 48,480 shares directly. The shares sold were held by entities controlled by Vishria, as noted in the filing. According to InvestingPro data, Amplitude maintains a strong financial health profile with more cash than debt on its balance sheet.
Investors may find these transactions noteworthy as they reflect changes in insider holdings at Amplitude, a company known for its analytics software in the technology sector. While currently unprofitable, analysts tracked by InvestingPro expect the company to achieve profitability this year, with several additional insights available through the platform's comprehensive analysis tools.
In other recent news, digital analytics company Amplitude Inc. has reported a 6% year-over-year increase in third-quarter revenue, amounting to $75.2 million, and an annual recurring revenue (ARR) of $298 million. The company's non-GAAP operating income was $1.6 million, which is 2.1% of the revenue. The company's customer base has expanded to nearly 3,500 paying customers, with 567 customers contributing over $100,000 in ARR, marking a 13% increase from the previous year. Despite facing Russian sanctions and macroeconomic challenges, the company is maintaining an optimistic outlook and concentrating on product innovation and enterprise client strategies for future growth.
Amplitude's strategic focus includes integrating AI, innovating products, and targeting enterprise clients. The company has raised its full-year revenue outlook to between $297.1 million and $298.1 million. The company's fourth-quarter revenue is projected to be between $76 million and $77 million. Despite macroeconomic concerns and competitive landscape, the company remains optimistic and is focused on reinvesting in its platform and product innovation. These are the recent developments in Amplitude Inc.
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