AMWL
American Well Corporation4.7000
+0.0000+0%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
DHA renewal promises material upside
Q&A highlighted material upside from a summer DHA contract renewal, potentially restoring cut digital behavioral health and automation revenues excluded from 2026 guidance after DoD's cost mandate. Management voiced strong optimism, noting fewer major renewals this year post-2025's 15 payer wins. They framed Amwell's platform as the regulated infrastructure for payers to plug in surging AI clinical programs like GLP-1 tools from Vida, differentiating from point-solution rivals. Government RFPs in all 50 states form the largest pipeline ever, set for Q2 news and 2027 impact. Pipeline dwarfs past peaks. Tone stayed confident on Q4 cash breakeven; watch DHA and same-store AI adoption.
Key Stats
Market Cap
76.94MP/E (TTM)
-Basic EPS (TTM)
-7.19Dividend Yield
0%Recent Filings
8-K
Amwell beats Q4 guidance
Amwell reported Q4 2025 revenue of $55.3 million, beating guidance, with subscription revenue at $28.8 million and AMG visits at 1.0 million. Full-year revenue hit $249.3 million, net loss narrowed to $95.0 million from $212.6 million, while cash stood at $182.3 million. Losses shrink. Guides 2026 revenue to $195-205 million, targeting Q4 cash flow breakeven amid platform focus.
10-K
FY2025 results
Amwell's FY2025 revenue dipped 2% to $249M amid client churn and the APC divestiture, yet narrowed net loss to $95M from $213M through 25% operating expense cuts via headcount reductions and cost discipline. Q4 visits fell to 4.5M total (29% AMG), but subscription revenue grew $17M annually from strategic clients while visits declined 23% y/y on lower utilization. Gross margins expanded on provider cost savings post-APC sale ($21M upfront cash). Cash burn eased to $66M operating use, with $182M liquidity and no debt. Divestiture streamlines focus on platform profitability. Client concentration risk looms with Elevance at 31% revenue.
8-K
Extended Elevance deal to 2029
American Well inked an amended SOW with Elevance Health effective January 1, 2026, extending their LiveHealth Online® white-label platform deal through 2029 with auto-renewals. Elevance pays annual subscription fees plus pro services; yet Elevance can exit on 365 days' notice. Locks in key revenue stream.
8-K
Extended Elevance deal to 2029
American Well extended its Master Services Agreement and Healthy Impact SOW with Elevance Health, plus related provider agreements via OCG, to January 1, 2029 effective January 1, 2026. The deals secure the LiveHealth Online® platform partnership, with annual subscription fees and per-consultation payments. Elevance can terminate for convenience on 365 days' notice. Continuity locked in.
10-Q
Q3 FY2025 results
American Well's Q3 revenue dipped 8% year-over-year to $56.3M, yet platform subscriptions climbed 18% to $30.9M, signaling steady core growth amid a 23% drop in visits to $21.2M after divesting the non-core APC business in January for $20.4M upfront cash, booking an $8.7M YTD gain. Operating loss narrowed sharply 38% to $29.3M, with costs down 21% thanks to 29% headcount cuts and lower provider expenses, while diluted EPS improved to -$2.00 from -$2.87. Cash burn eased to $48.6M YTD operating outflow versus $113.9M last year, leaving $200.9M in cash and no debt. The APC sale sharpens focus on Converge platform profitability. Still, reliance on two clients for 53% of revenue poses concentration risks.
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