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Here's Why We're Not Too Worried About Amplitude's (NASDAQ:AMPL) Cash Burn Situation
Here's Why We're Not Too Worried About Amplitude's (NASDAQ:AMPL) Cash Burn Situation
Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.
So should Amplitude (NASDAQ:AMPL) shareholders be worried about its cash burn? In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.
See our latest analysis for Amplitude
When Might Amplitude Run Out Of Money?
You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. When Amplitude last reported its balance sheet in June 2022, it had zero debt and cash worth US$310m. Importantly, its cash burn was US$29m over the trailing twelve months. So it had a very long cash runway of many years from June 2022. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. The image below shows how its cash balance has been changing over the last few years.
NasdaqCM:AMPL Debt to Equity History September 18th 2022How Well Is Amplitude Growing?
It was quite stunning to see that Amplitude increased its cash burn by 233% over the last year. While that certainly gives us pause for thought, we take a lot of comfort in the strong annual revenue growth of 60%. In light of the data above, we're fairly sanguine about the business growth trajectory. While the past is always worth studying, it is the future that matters most of all. So you might want to take a peek at how much the company is expected to grow in the next few years.
How Hard Would It Be For Amplitude To Raise More Cash For Growth?
We are certainly impressed with the progress Amplitude has made over the last year, but it is also worth considering how costly it would be if it wanted to raise more cash to fund faster growth. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).
Amplitude has a market capitalisation of US$1.8b and burnt through US$29m last year, which is 1.7% of the company's market value. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.
How Risky Is Amplitude's Cash Burn Situation?
It may already be apparent to you that we're relatively comfortable with the way Amplitude is burning through its cash. In particular, we think its revenue growth stands out as evidence that the company is well on top of its spending. While we must concede that its increasing cash burn is a bit worrying, the other factors mentioned in this article provide great comfort when it comes to the cash burn. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. Its important for readers to be cognizant of the risks that can affect the company's operations, and we've picked out 2 warning signs for Amplitude that investors should know when investing in the stock.
If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
僅僅因為一家企業沒有賺到錢,並不意味着股票會下跌。例如,生物技術和採礦勘探公司經常虧損多年,然後才在新的治療方法或礦物發現方面取得成功。話雖如此,沒有盈利的公司是有風險的,因為它們可能會燒掉所有的現金,陷入困境。
所以也應該這樣波幅納斯達克:AMPL)股東擔心其燒錢?在這份報告中,我們將考慮該公司的年度自由現金流為負,此後將其稱為“現金消耗”。我們將首先將其現金消耗與其現金儲備進行比較,以計算其現金跑道。
請參閲我們對幅度的最新分析
Ampline什麼時候會用完錢?
你可以通過將公司擁有的現金數量除以它花掉這些現金的速度來計算公司的現金跑道。當Ampline上一次報告其資產負債表是在2022年6月,它沒有債務和價值3.1億美元的現金。重要的是,在接下來的12個月裏,它的現金消耗為2900萬美元。因此,從2022年6月開始,它有一條很長的現金跑道。雖然這只是其燒錢情況的一個衡量標準,但它肯定給我們的印象是,持有者沒有什麼可擔心的。下圖顯示了其現金餘額在過去幾年中的變化情況。
納斯達克CM:Ampl債轉股歷史2022年9月18日波幅增長得有多好?
令人震驚的是,Amplity的現金消耗比去年增加了233%。雖然這肯定會讓我們停下來思考,但我們對60%的強勁年收入增長感到非常欣慰。根據上述數據,我們對業務增長軌跡相當樂觀。雖然過去總是值得研究的,但最重要的是未來。因此,你可能想看看該公司在未來幾年的預期增長速度。
對於Amplity來説,籌集更多現金以實現增長的難度有多大?
我們當然對過去一年取得的進展印象深刻,但也值得考慮的是,如果它想籌集更多現金為更快的增長提供資金,代價會有多高。一般來説,上市企業可以通過發行股票或承擔債務來籌集新的現金。公開上市公司的主要優勢之一是,它們可以向投資者出售股票,以籌集現金和為增長提供資金。通過將一家公司的年度現金消耗與其總市值進行比較,我們可以粗略地估計出它需要發行多少股票才能維持公司下一年的運營(以相同的消耗速度)。
Ampline的市值為18億美元,去年燒掉了2900萬美元,佔公司市值的1.7%。這意味着它可以很容易地發行一些股票,為更多的增長提供資金,而且很可能處於低息借貸的地位。
Amplay的燒錢情況有多大風險?
你可能已經很明顯了,我們對Amplay消耗現金的方式相對滿意。特別是,我們認為它的收入增長突出,證明該公司很好地控制了支出。雖然我們必須承認,它不斷增加的現金消耗有點令人擔憂,但本文提到的其他因素在涉及到現金消耗時提供了很大的安慰。看看本文中的所有衡量標準,我們並不擔心它的現金消耗率;該公司似乎很好地滿足了中期支出需求。重要的是讓讀者認識到可能影響公司運營的風險,我們已經挑選出2振幅警示標誌投資者在投資股票時應該知道這一點。
如果你更願意看看另一家基本面更好的公司,那麼不要錯過這一預期免費有趣的公司名單,擁有高股本回報率和低債務的公司,或者這些預計都將增長的股票名單。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
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在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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