AMPL INVESTOR ALERT

Bronstein, Gewirtz & Grossman LLC Announces that Amplitude, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit!

Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Amplitude, Inc. (“Amplitude” or “the Company”) (NASDAQ: AMPL) and certain of its officers.

Class Definition:

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Amplitude securities between September 21, 2021 and February 16, 2022, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/AMPL.

Case Details:

Amplitude is a technology company that helps businesses analyze data for their digital products and track customer interactions.

The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Amplitude's land-and-expand strategy was years away from significantly accelerating revenues among its newer client cohorts; and (2) the rapid acceleration in Amplitude's second quarter of 2021 results resulted from the ephemeral effects of the COVID-19 pandemic which had not continued by the start of the Class Period, as Amplitude clients were expanding at a slower pace.

Beginning in September 2021, Amplitude claimed to be experiencing extraordinary growth due to “strong demand for [its products]” and a “robust” expansion from existing customers. Specifically, in connection with the Company’s second quarter 2021 (“2Q21”) earnings, Amplitude reported that “revenue growth accelerated” during the quarter and was “up 66% year over year.” The Company similarly reported that a key growth metric, known as current remaining performance obligations (“cRPO”), was up 76% year-over-year and that its dollar-based net retention rate (“NRR”) was 119%.

Capitalizing on their rosy assessments and reassurances regarding Amplitude’s rapid growth trajectory and ability to sustain outsized gains through the Company’s land-and-expand strategy, in the months following the IPO Amplitude’s senior management and Company insiders cashed out more than $275 million in Amplitude stock at artificially inflated prices, including more than $30 million by CEO Skates and more than $17 million by CFO Vuong at prices as high as $74 per share.