Amwell Q3 2024: Revenue $61M, net loss $44M; guidance cut on revenue and visits, EBITDA outlook narrowed

American Well Corp

2024-Q3 EPS reported -$11.13 revenue$183,358,000

Q3 revenue $61.0M (subscription $26.2M, AMG visit revenue $27.5M); gross margin 37%.
Net loss ($44.0M) vs ($49.9M) in Q2; Adjusted EBITDA ($31.0M) vs ($35.0M) in Q2.
Total visits 1.4M, ~70% on Converge platform.
FY2024 guidance revised: revenue $247-252M (from $259-269M); AMG visits 1.4-1.5M (from 1.6-1.7M).
Adjusted EBITDA guidance improved to ($137)-($142)M from ($150)-($145)M.

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