---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-017192"
form_type: "8-K"
ticker: "AMWL"
cik: "0001393584"
company_name: "American Well Corp"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:43:29.828207+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Amwell Q1 revenue $64M; net loss $398.5M with $330.3M goodwill impairment

## Summary
- Revenue $64.0M (subscription $28.7M, AMG visits $32.5M); gross margin 39.5%.
- Net loss ($398.5M) vs ($61.6M) in Q4 2022; includes $330.3M non-cash goodwill impairment.
- Adjusted EBITDA ($44.6M) vs ($43.4M) in prior quarter.
- Total visits 1.7M; Converge platform visits grew to 36% of total (from 28% in Q4 2022).
- FY 2023 guidance reaffirmed: revenue $275-285M, Adj. EBITDA ($150M)-($160M).

## SEC filing metadata
- accession: 0000950170-23-017192
- form_type: 8-K
- ticker: AMWL
- cik: 0001393584
- company_name: American Well Corp
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393584/000095017023017192/0000950170-23-017192-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393584/000095017023017192/amwl-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-017192
- JSON: https://secwatch.observer/filing/0000950170-23-017192.json
- Plain text: https://secwatch.observer/filing/0000950170-23-017192.txt

## Key facts
- Earnings Releases
  American Well Corp reported first quarter ended March 31, 2023 results: revenue $64.0 million, net income ($398.5) million. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2023
  - Revenue: $64.0 million
  - Net income: ($398.5) million
  - Guidance: reaffirmed
  - Result: reported results
  source text: in digital healthcare enablement, today announced financial results for the first quarter ended March 31, 2023. Amwell First Quarter 2023 Highlights: • Recorded Total Revenue of $64.0 million o Achieved subscription revenue of $28.7 million o Recorded AMG Visit revenue of $32.5 million • Reported gross margin of 39.5% • Net loss was ($398.5) million, compared to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393584/000095017023017192/0000950170-23-017192-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.