Wrapping up Q2 earnings, we look at the numbers and key takeaways for the data analytics stocks, including Amplitude (NASDAQ: AMPL) and its peers.

Organizations generate a lot of data that is stored in silos, often in incompatible formats, making it slow and costly to extract actionable insights, which in turn drives demand for modern cloud-based data analysis platforms that can efficiently analyze the siloed data.

The 6 data analytics stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 3% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.5% since the latest earnings results.

Amplitude (NASDAQ: AMPL)

Born from the realization that companies were flying blind when it came to understanding user behavior in their digital products, Amplitude (NASDAQ: AMPL) provides a digital analytics platform that helps businesses understand how people use their digital products to improve user experiences and drive revenue growth.

Amplitude reported revenues of $83.27 million, up 13.6% year on year. This print exceeded analysts’ expectations by 2.4%. Overall, it was a very strong quarter for the company with accelerating customer growth and a solid beat of analysts’ EBITDA estimates.

Unsurprisingly, the stock is down 5% since reporting and currently trades at $11.61.

Is now the time to buy Amplitude? Access our full analysis of the earnings results here, it’s free.

Best Q2: Palantir Technologies (NASDAQ: PLTR)

Named after the all-seeing stones in "Lord of the Rings," Palantir Technologies (NASDAQ: PLTR) develops software platforms that help government agencies and enterprises integrate, analyze, and operationalize their data for decision-making.

Palantir Technologies reported revenues of $1.00 billion, up 48% year on year, outperforming analysts’ expectations by 6.8%. The business had a very strong quarter with an impressive beat of analysts’ billings estimates and a solid beat of analysts’ EBITDA estimates.

Palantir Technologies achieved the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The market seems content with the results as the stock is up 1.9% since reporting. It currently trades at $163.80.

Is now the time to buy Palantir Technologies? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Health Catalyst (NASDAQ: HCAT)

Built on its "Health Catalyst Flywheel" methodology that emphasizes measurable outcomes, Health Catalyst (NASDAQ: HCAT) provides data and analytics technology and services that help healthcare organizations manage their data and drive measurable clinical, financial, and operational improvements.

Health Catalyst reported revenues of $80.72 million, up 6.3% year on year, in line with analysts’ expectations. It was a slower quarter as it posted EBITDA guidance for next quarter missing analysts’ expectations significantly and revenue guidance for next quarter meeting analysts’ expectations.

Health Catalyst delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. As expected, the stock is down 8.1% since the results and currently trades at $3.40.

Read our full analysis of Health Catalyst’s results here.

Samsara (NYSE: IOT)

From sensors on vehicles to AI-powered cameras that help prevent accidents, Samsara (NYSE: IOT) is a cloud-based Internet of Things platform that helps businesses improve the safety, efficiency, and sustainability of their physical operations.

Samsara reported revenues of $391.5 million, up 30.4% year on year. This number beat analysts’ expectations by 5.2%. Overall, it was a very strong quarter as it also logged EPS guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ EBITDA estimates.

The company added 133 enterprise customers paying more than $100,000 annually to reach a total of 2,771. The stock is up 8.3% since reporting and currently trades at $38.81.

Read our full, actionable report on Samsara here, it’s free.

Domo (NASDAQ: DOMO)

Named for the Japanese word meaning "thank you very much," Domo (NASDAQ: DOMO) provides a cloud-based business intelligence platform that connects people with real-time data and insights across organizations.

Domo reported revenues of $79.72 million, up 1.7% year on year. This result surpassed analysts’ expectations by 2.1%. Taking a step back, it was a satisfactory quarter as it also produced an impressive beat of analysts’ EBITDA estimates but a miss of analysts’ billings estimates.

Domo had the slowest revenue growth among its peers. The stock is down 11.8% since reporting and currently trades at $15.49.

Read our full, actionable report on Domo here, it’s free.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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