---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-057440"
form_type: "8-K"
ticker: "AMWL"
cik: "0001393584"
company_name: "American Well Corp"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T02:13:49.206334+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Amwell Q3 revenue $61.9M, net loss $137.1M includes $78.9M goodwill impairment; guidance revised

## Summary
- Revenue $61.9M (subscription $28.4M, AMG visit revenue $26.7M); gross margin 35%.
- Net loss $137.1M vs. $93.5M in Q2 2023, primarily from $78.9M non-cash goodwill impairment.
- Adjusted EBITDA improved to ($38.5M) from ($45.3M) in Q2; cash and short-term securities $418.1M.
- Total visits 1.4M; Converge platform visits reached 50% of total vs. 43% in Q2.
- 2023 guidance: revenue $257-263M; Adjusted EBITDA now ($162M) to ($167M), reflecting Defense Health Agency win investment.

## SEC filing metadata
- accession: 0000950170-23-057440
- form_type: 8-K
- ticker: AMWL
- cik: 0001393584
- company_name: American Well Corp
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1393584/000095017023057440/0000950170-23-057440-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393584/000095017023057440/amwl-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-057440
- JSON: https://secwatch.observer/filing/0000950170-23-057440.json
- Plain text: https://secwatch.observer/filing/0000950170-23-057440.txt

## Key facts
- Earnings Releases
  American Well Corp reported third quarter ended Sept. 30, 2023 results: revenue $61.9 million, net income ($137.1) million. Guidance reaffirmed.
  - Period: third quarter ended Sept. 30, 2023
  - Revenue: $61.9 million
  - Net income: ($137.1) million
  - Guidance: reaffirmed
  - Result: reported results
  source text: leader in hybrid care enablement, today announced financial results for the third quarter ended Sept. 30, 2023. Amwell Third Quarter 2023 Highlights: • Recorded Total Revenue of $61.9 million o Achieved subscription revenue of $28.4 million o Recorded Amwell Medical Group (“AMG”) visit revenue of $26.7 million • Reported gross margin of 35% • Net loss was ($137.1)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393584/000095017023057440/0000950170-23-057440-index.htm

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