Amplitude’s customer map: enterprise scale, subscription economics, and what the roster says to investors

Amplitude is a subscription-first product intelligence platform that licenses analytics and AI-driven insights to digital product teams and marketers; it monetizes through recurring SaaS subscriptions (the core product), modest professional services, and long-duration contracts that create meaningful unrecognized revenue. The customer list — a steady mix of Fortune-scale enterprises, large consumer brands and high-growth digital platforms — underpins Amplitude’s ARR-driven valuation dynamics and its path to improved profitability. For a concise investor primer on these relationships, visit https://nullexposure.com/.

What the customer roster signals about the business

Amplitude’s customers are global, enterprise-heavy and product-critical. Management discloses that subscription revenue comprises roughly 98% of total revenue, the company serves thousands of paying customers globally, and no single customer represented 10% of revenue for 2024 — a profile that blends revenue diversification with meaningful account concentration at the high end (hundreds of customers contribute >$100k ARR and dozens exceed $1m ARR). Those structural characteristics explain why Amplitude sells through direct enterprise motions alongside product-led self-service tiers: the go-to-market is scalable but dependent on landing and expanding large accounts.

Key operational constraints to factor into underwriting:

• Subscription, recurring revenue model with multi-year contract backbone and a material remaining performance obligation (roughly $308.6m reported as of 12/31/2024).
• Global revenue mix with roughly 40% of revenue generated outside the U.S., supporting international expansion but also FX and regional sales investment considerations.
• No single customer concentration >10%, yet a number of mission-critical large accounts (42 customers >$1m ARR) makes churn or expansion dynamics around those accounts high-impact for growth trajectories.
• Professional services are immaterial to revenue but used to boot-strap enterprise deployments; the core product is the principal value driver.

Customer roll call: the roster that drives ARR

Below is a concise, source-backed summary of every customer relationship cited in the record set provided by company transcripts and news coverage.

• CrossFit — Management listed CrossFit among new and expansion enterprise deals during the Amplitude Q4 2025 earnings call. (AMPL Q4 2025 earnings call)
• Crunch Fitness — Cited as an enterprise new/expansion customer in the Q4 2025 earnings call. (AMPL Q4 2025 earnings call)
• Appfire — Called out among enterprise wins in Amplitude’s Q1 2025 earnings remarks. (AMPL Q1 2025 earnings call)
• Zocdoc — Named as a new/expansion enterprise customer in the Q1 2025 earnings call. (AMPL Q1 2025 earnings call)
• Once Upon Publishing — Identified among enterprise expansion deals in the Q4 2025 earnings call. (AMPL Q4 2025 earnings call)
• PGA of America — Listed as an enterprise expansion/new customer in Q4 2025 commentary. (AMPL Q4 2025 earnings call)
• Joe & the Juice — Named as a new customer in the Q1 2025 earnings call. (AMPL Q1 2025 earnings call)
• The Economist Group — Announced as a landed new customer in the Q1 2025 earnings call and positioned as part of the enterprise base. (AMPL Q1 2025 earnings call)
• Stewart Title Guaranty Company — Listed among enterprise new/expansion deals in the Q4 2025 earnings call. (AMPL Q4 2025 earnings call)
• WHOOP — Cited among Q4 2025 enterprise deals as part of recent new and expansion bookings. (AMPL Q4 2025 earnings call)
• Siemens (SIEGY) — Management referenced Siemens as a multi-year enterprise partner that uses Amplitude across its web presence and digital ecosystem during the Q4 2025 call. (AMPL Q4 2025 earnings call)
• Asana (ASAN) — Called out as an enterprise expansion/new deal in the Q4 2025 earnings remarks. (AMPL Q4 2025 earnings call)
• Atlassian (TEAM) — Repeatedly listed across earnings and press coverage as a marquee customer among thousands using Amplitude; mentioned in Q1 2025 earnings and multiple FY2024–FY2026 news releases. (AMPL Q1 2025 earnings call; StockTitan/BizWire/Barchart FY2024–FY2026)
• Shopify — Cited in media coverage of Amplitude product launches as one of the platform’s named customers (FY2024–FY2025 news items). (StockTitan FY2024; StockTitan FY2025)
• NBCUniversal — Frequently referenced in company press and investor communications as a named customer among large-brand users (FY2024–FY2026 coverage). (StockTitan/FY2024–FY2026)
• Lendi Group — Quoted in press around the Web Experimentation product as a customer benefitting from self-service experimentation. (StockTitan FY2024)
• Jersey Mike’s — Named in multiple product announcement pieces and investor communications as a customer using Amplitude for journey visibility. (StockTitan FY2024–FY2025)
• Zip (ZIP) — Profiled in product-news coverage as an innovative customer leveraging Amplitude to scale analysis and uncover opportunities (FY2025 press). (StockTitan FY2025)
• Square (SQ) — Identified across FY2025–FY2026 press and filings as a customer among the platform’s larger enterprise and retail clients. (StockTitan/BizWire/Barchart FY2025–FY2026)
• Under Armour (UAA) — Repeatedly called out in FY2024–FY2026 media items as a named brand customer using Amplitude analytics. (StockTitan/Barchart FY2024–FY2026)
• Burger King (QSR) — Listed in the company’s FY2026 overview of named customers across press releases. (BizWire / StockTitan FY2026)
• Mercado Libre (MELI) — Quoted in FY2026 product news describing how Amplitude’s AI agents and dashboards supported conversion and funnel analysis. (StockTitan FY2026)
• NTT DOCOMO (NTDMF) — Management highlighted NTT DOCOMO using Amplitude across more than 1,000 active users to scale analytics in the Q4 2025 call and in FY2026 press. (AMPL Q4 2025 earnings call; StockTitan FY2026)
• Hertz (HTZ) — Cited as a landed customer in the Q1 2025 earnings call. (AMPL Q1 2025 earnings call)
• First Horizon Bank (FHN) — Included in the Q1 2025 list of new and expansion enterprise customers. (AMPL Q1 2025 earnings call)
• Woop — Named among enterprise wins in the Q1 2025 earnings discussion. (AMPL Q1 2025 earnings call)
• 1Password — Identified in Q1 2025 commentary as a new enterprise customer. (AMPL Q1 2025 earnings call)
• Away — Cited among Q1 2025 enterprise customers. (AMPL Q1 2025 earnings call)
• Le Monde — Included in the Q1 2025 earnings call list of enterprise wins. (AMPL Q1 2025 earnings call)
• Syngenta (SYENF) — Named as an enterprise customer in the Q1 2025 earnings call. (AMPL Q1 2025 earnings call)
• Appfire — (already noted above) — referenced in Q1 2025 earnings as an enterprise deal. (AMPL Q1 2025 earnings call)

How these relationships should shape the investment view

• Sales efficiency and expansion matter more than raw logos. The roster shows Amplitude’s GTM is converting household-name brands while scaling self-serve adoption; investor returns track the company’s ability to expand spend inside the accounts that already register >$100k ARR.
• Retention and churn risk is concentrated at the high end. No single customer breaches 10% revenue, but the economic impact of losing a $1m+ ARR account is material to near-term growth cadence.
• International scale is real and accelerating. Roughly 40% of revenue is international, and large telecom and e‑commerce customers (NTT DOCOMO, Mercado Libre, Siemens) validate regional traction and support dollar expansion.

For investors evaluating Amplitude’s customer relationships, the combination of subscription economics, a global enterprise footprint, and a long-tail of smaller self-serve customers creates both durable ARR and clear levers for operational improvement—compressing sales expense, expanding attach rates, and reducing CAC payback. Learn more about how we evaluate customer risk and concentration at https://nullexposure.com/.

Final takeaway: Amplitude’s named-customer list demonstrates enterprise-grade product adoption and diversified commercial channels, but underwriters must weight outcomes to account-level performance (expansion/retention) and the company’s heavy reliance on recurring subscription revenue.