Amwell Q4 revenue $70.7M; net loss narrows to $50M; guides to 2026 EBITDA breakeven

American Well Corp

2023-FY EPS reported -$2.38 revenue$259,047,000

Q4 2023 total revenue $70.7M (subscription $27.3M, AMG visits $32.1M); gross margin 34%.
Q4 net loss $50.0M vs Q3 $137.1M (Q3 included $78.9M goodwill impairment); adjusted EBITDA -$36.9M.
Full-year 2023 revenue $259M; net loss $679.2M (includes $436.5M goodwill impairment); adj. EBITDA -$165.4M.
FY2024 guidance: revenue $259-269M, AMG visits 1.6-1.7M, adj. EBITDA -$160M to -$155M.
Preliminary FY2025: revenue $335-350M, adj. EBITDA -$45M to -$35M; target adj. EBITDA breakeven by 2026.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

American Well Corp reported fourth quarter and full year ended December 31, 2023 results: revenue Total Revenue of $70.7 million, net income Net loss was ($50.0) million.

Period: fourth quarter and full year ended December 31, 2023
Revenue: Total Revenue of $70.7 million
Net income: Net loss was ($50.0) million
Result: reported results

Exact text from the filing

With the achievements of 2023, we begin 2024 with high conviction regarding our path to profitability.” Amwell Fourth Quarter 2023 Highlights: • Recorded Total Revenue of $70.7 million o Achieved subscription revenue of $27.3 million o Recorded Amwell Medical Group (“AMG”) visit revenue of $32.1 million • Reported gross margin of 34% • Net loss was ($50.0)

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Source: SEC EDGAR

accession 0000950170-24-015232

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