Amwell Q3 revenue $62.2M, net loss improves to $50.9M; guides 2021 revenue lower, EBITDA higher

American Well Corp

2022-Q3 EPS reported -$0.51 revenue$180,039,000

Revenue $62.2M vs $62.6M YoY; subscription revenue $26.7M (+3.5%), visit revenue $30.0M (+5.3%).
Gross margin 43.5% vs 32.7% YoY; net loss ($50.9M) vs ($64.6M); Adj. EBITDA loss ($31.5M) vs ($26.2M).
Total visits ~1.4M (up from 1.3M Q2); active providers ~80,000 (vs 71,000 Q2, 62,000 YoY).
Narrows 2021 revenue guidance to $246-253M from $252-262M; lowers EBITDA loss guidance to ($143)-($136)M from ($154)-($146)M.
Converge platform development on track; added Conversa Health and SilverCloud Health capabilities.

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