Amplitude President Thomas Hansen to Depart After Stock's 54% Decline During His Tenure

February 24, 2026 · by Fintool Agent

AMPL

Amplitude President Thomas Hansen will step down from his role effective March 31, 2026, the company announced Monday in an 8-K filing, just six days after the company's Q4 earnings call where no leadership transition was discussed. 1

The departure marks the end of Hansen's nearly four-year tenure during which Amplitude's stock fell 54%—from $14.75 when he joined in July 2022 to $6.83 at Monday's close—even as the company's business fundamentals improved significantly.

The company reaffirmed its 2026 financial guidance, signaling confidence in the transition despite the abrupt timing of the announcement. 2

The Transition

CRO Nathaniel Crook will step into a newly created Chief Commercial Officer role, assuming many of Hansen's go-to-market responsibilities. 3 Hansen will remain in an advisory capacity through April 1, 2027 to support continuity. 4

Crook joined Amplitude as CRO in April 2023, bringing over 20 years of enterprise software sales experience from stints at Instabase (where he was CRO during a period of historic revenue growth), Microsoft, and Cisco.

The company's standard 8-K language—"not the result of any dispute or disagreement"—leaves the actual catalyst unclear. 6

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Stock Versus Business Performance: A Divergent Story

The contrast between Amplitude's stock trajectory and operational progress is stark:

Business Metrics Under Hansen's Watch

Despite achieving Amplitude's "strongest quarter" in Q4 2025—with the highest net new ARR since 2021 and positive non-GAAP operating income of $4.2M—the stock trades 53% below Hansen's entry price and 65% below its $19.74 post-IPO peak. 9

The market's skepticism reflects Amplitude's sub-$1B market cap ($913M) against annual revenue run-rate of ~$365M, valuing the company at just 2.5x sales—compressed multiples even by post-2022 SaaS standards.

Revenue Trend

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What Hansen Built—and What Comes Next

Hansen was hired as Amplitude's first President in July 2022 to scale the go-to-market organization after building GTM operations at UiPath (where he helped take the company public) and Carbon Black (which sold to VMware).

His mandate was clear: shift Amplitude from a transactional, product-led motion to an enterprise-focused, platform-selling approach.

The Results:

• Enterprise pivot: ARR from enterprise customers grew 20% YoY with higher retention and expansion rates 2
• Platform consolidation: Win rates against point solutions increased as 74% of ARR now comes from multi-product customers 3
• Longer commitments: Average contract duration exceeded 22 months, and total RPO grew 35% YoY 4
• GTM efficiency: Sales and marketing as percentage of revenue declined to 42%, down from prior years 5

Yet Amplitude is pivoting again—this time to position itself as an "AI analytics" company. CEO Spenser Skates dedicated much of the Q4 earnings call to demonstrating new AI agents, Model Context Protocol (MCP) integrations with Anthropic and OpenAI, and the acquisition of InfiniGrow, an AI-native marketing analytics startup. 6

The timing suggests Hansen's departure may be tied to this strategic pivot. Building an enterprise GTM machine is different from evangelizing AI-native products to developers and product teams—a shift that may require different leadership DNA.

"AI is a structural tailwind for Amplitude... The real advantage is how quickly a team can learn, iterate, improve, and automate. Agentic analytics is the key." — CEO Spenser Skates, Q4 2025 Earnings Call 7

Guidance Reaffirmed Amid Transition

Despite the leadership change, Amplitude maintained its outlook: 8

Q1 2026 Guidance:

• Revenue: $91.7M-$93.7M (16% YoY growth at midpoint)
• Non-GAAP Operating Income: -$4.5M to -$2.5M

Full Year 2026 Guidance:

• Revenue: $390M-$398M (15% YoY growth at midpoint)
• Non-GAAP Operating Income: $7M-$13M

The guidance reaffirmation suggests the company views this as an orderly transition rather than a crisis.

Analyst Consensus

Wall Street maintains cautious optimism with a consensus price target of $12.70*—an 86% premium to current levels—though that target was set before the departure announcement.

*Values retrieved from S&P Global

What to Watch

1. Crook's first earnings call: Q1 2026 results will be the first test of the new leadership structure and whether the GTM momentum continues

2. AI adoption metrics: Amplitude disclosed that 25% of total queries are now triggered by AI agents, up from nearly zero in October 2025 9—watch for continued acceleration

3. Customer cohort retention: The 105% net retention rate is improving but still below SaaS industry leaders; any regression would raise concerns

4. Insider activity: Hansen held 1.85M shares as of his most recent Form 4 filing—monitor for any large dispositions during the advisory period

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Related:

• Amplitude (ampl)