AMPLITUDE SHAREHOLDER ACTION REMINDER: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Amplitude To Contact Him Directly To Discuss Their Options

NEW YORK, Feb. 16, 2024

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NEW YORK, Feb. 16, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Amplitude, Inc. ("Amplitude" or the "Company") (NASDAQ: AMPL) and reminds investors of the April 15, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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.

On February 16, 2022, Amplitude revised downward its 2022 revenue guidance, from more than 40% to a range of $226 million to $234 million (or 35% to 40%). During the earnings call that followed, Amplitude CFO, defendant Hoang Vuong, stated that Amplitude was still "a few years" away from many of its new customers "completely embrac[ing] the full capability of [Amplitude's] digital optimization," which he stated would eventually "drive larger expansion." On this news, the price of Amplitude stock fell nearly 59%.