What is American Well's latest dividend and current dividend yield?

What does American Well do and what are its main business segments?

What were the key takeaways from American Well's earnings call?

What guidance did American Well's management provide for the next earnings period?

Did American Well beat or miss consensus estimates last quarter?

What factors drove the changes in American Well's revenue and profit?

What is the revenue and EPS growth rate for American Well year over year?

What is the market's earnings forecast for American Well next quarter?

- **Revenue Growth**: Q3 subscription revenue up 18% YoY, driven by virtual primary care expansion. 
- **AI Impact**: AI reduces 30-day readmissions by 50% and enables $500/patient savings for payers. 
- **Financial Health**: Gross margin expands to 52%, with $201M cash on hand and no debt. 
- **2026 Target**: On track for cash flow breakeven through cost cuts and AI-driven efficiency. 
- **Customer Win**: Secured Florida Blue deal by solving vendor fragmentation challenge. 


**【CEO Summary Section】**
- **Strategic Focus**: AmWell is prioritizing two main initiatives: (1) developing a next-generation, enterprise-grade platform with AI integration and (2) optimizing operational efficiency to achieve cash flow breakeven by end-2026. 
- **Market Momentum**: Q3 2025 results reflect stronger subscription retention and visit volume in virtual primary care. AI-driven solutions are reducing 30-day readmissions by 50% and generating high customer satisfaction (NPS scores). 
- **Customer Wins**: Secured a major Florida Blue deal by offering a unified platform that reduces vendor fragmentation and complexity. 
- **Legacy Assets**: Will continue supporting legacy solutions (e.g., inpatient telehealth) but redirect resources to high-margin clinical programs like virtual primary care and behavioral health. 

**【CFO Financial Commentary】**
- **Q3 2025 Results**: 
  - Total revenue: $56.3M (down 8% YoY, but +1.3% when excluding APC sale)
  - Subscription revenue: $30.9M (+18% YoY, 55% of total revenue)
  - Gross margin: 52% (vs. 37% YoY)
  - Adjusted EBITDA: -$12.7M (vs. -$31M YoY)
  - Cash burn: $18M (ending Q3 with $201M cash)
- **Cost Optimization**: 
  - R&D expenses down 6%
  - Sales & marketing down 46%
  - G&A expenses down 14%
- **2025 Guidance Update**: 
  - Full-year revenue: $245-248M (vs. prior $245-250M)
  - Q4 revenue: $51-54M
  - Adjusted EBITDA: -$15M to -$12M
- **2026 Outlook**: Targeting positive cash flow from operations through continued expense reduction and margin expansion.

**【Q&A Highlights】**
1. **AI Monetization**: 
   - Integrates AI into clinical programs (e.g., predictive readmission models) to reduce costs and improve outcomes. 
   - Monetizes through program referrals (e.g., 30-day readmission savings sharing) rather than direct platform fees. 
2. **Divestiture Strategy**: 
   - Actively exploring sales of non-core assets (e.g., inpatient telehealth) to focus on high-growth clinical programs. 
   - No immediate impact on 2025 guidance, but could accelerate 2026 cash flow. 
3. **Macroeconomic Impact**: 
   - Health systems prioritize value-based care solutions despite IT budget caution. 
   - Minimal tariff exposure; U.S.-based software development limits trade risks. 
4. **Customer Retention**: 
   - 79% of Gen Z now use health tech monthly, driving demand for AmWell's personalized care navigation. 
   - AI-driven program matching improves member engagement and reduces churn. 


American Well Corporation (AMWL) Q3 2025 Earnings Call Transcript

- **DHA Contract Extension**: 1-year deal excludes behavioral/automated care due to budget, but validates platform success (virtual visits tripled). 2025 revenue guidance adjusted to $245-250M.
- **Financial Strength**: Q2 EBITDA improved 85% YoY to -$4.7M, cash burn $3M. Gross margin 56.1%, up 3.3pts QoQ.
- **AI-Driven Growth**: Launched Amwell Navigate for cost-effective client support. Targeting 60%+ EBITDA margin improvement YoY.
- **2026 Vision**: On track for positive cash flow, with $190M cash by year-end and no debt.
- **Market Momentum**: New client wins (Florida Blue), renewals, and pipeline traction reflect solution resonance in cost-focused healthcare.


**【Management Opening Remarks】**
- Sue Dooley welcomed participants and highlighted the company's focus on forward-looking statements and financial measures reconciliation.
- The call emphasized alignment with healthcare cost reduction trends and AI's role in care evolution.

**【CEO Summary Section】**
- **Q2 Highlights**: Revenue growth driven by DHA contract extension, Florida Blue win, and client renewals. Adjusted EBITDA improved to -$4.7M (vs. -$35M YoY), with cash burn reduced to $3M.
- **DHA Contract**: 1-year extension excludes behavioral health and automated care due to budget constraints, impacting 2025 guidance. Platform tripled virtual visits, with high satisfaction.
- **AI Integration**: Launched Amwell Navigate for cost-effective client support. Targeting 60%+ EBITDA margin improvement YoY.
- **2026 Goal**: Positive cash flow from operations, supported by leaner teams and AI-driven efficiency.

**【CFO Financial Commentary】**
- **Revenue**: Q2 total $70.9M (+13% YoY), software revenue $40.4M (57% mix, +47% YoY). Normalized for APC sale, revenue +25% YoY.
- **Gross Margin**: 56.1% (vs. 52.8% Q1), driven by software mix and cost initiatives.
- **Cost Reduction**: R&D down 12.2% YoY, Sales/Marketing -32%, G&A -25.7%. 2025 guidance: $245-250M revenue, EBITDA -$50M to -$45M.
- **Cash Position**: $219M ending Q2, targeting $190M by year-end.

**【Q&A Key Highlights】**
- **DHA Contract Details**: Annualized subscription revenue slightly higher than prior, excluding behavioral/automated care. DHA may add programs post-budget normalization.
- **AI Impact**: Used to streamline operations, reduce costs, and enhance client experience (e.g., Amwell Navigate).
- **Sales Pipeline**: Strong demand in payer/provider markets, driven by cost focus and AI-enabled solutions. No macro-related elongation of sales cycles.
- **Gross Margin Outlook**: Flattish for 2025, with 2026 guidance to follow.
- **2026 Cash Flow Path**: Combines revenue mix shift, cost reductions, and AI-driven efficiency.


American Well Corporation (AMWL) Q2 2025 Earnings Call Transcript

- **Software Growth Accelerates**: Q1 software revenue up 30% YoY, now 48% of total. 
- **Margin Expansion**: Gross margin hits 52.8%, with EBITDA improving 60% YoY. 
- **DHA Contract Confidence**: Automated behavioral health programs set to launch Q3, renewal expected. 
- **Cost Efficiency**: R&D, S&M, and G&A expenses down 17%, 51%, and 29% YoY respectively. 
- **Cash Flow Ambition**: 2026 positive free cash flow target, backed by $222M cash on hand.

**【CEO Summary Section】**
- Q1 2025 marked a strong start with software revenue growing 30% YoY, driven by the full deployment of scheduled virtual visits across the Military Health System (MHS). 
- Adjusted EBITDA improved sequentially for the fourth consecutive quarter, with a focus on cost reduction and margin expansion. 
- The DHA contract renewal remains on track, with automated behavioral health programs expected to go live in Q3 2025. 
- New Chief Product & Technology Officer, Dan Zamansky, is integrating AI and automation to enhance platform efficiency and scalability. 

**【CFO Financial Commentary】**
- Total Q1 revenue: $66.8M (+12% YoY), with software revenue at $32.2M (48% of total, +30% YoY). 
- Gross margin expanded to 52.8% (vs. 48.5% Q4 2024), driven by higher software mix and cost control. 
- Operating expenses declined: R&D (-17% YoY), Sales & Marketing (-51% YoY), G&A (-29% YoY). 
- 2025 guidance: Revenue $250-260M, adjusted EBITDA -$55M to -$45M (60% YoY improvement). 

**【Q&A Key Highlights】**
- **Government Contracts**: High confidence in DHA renewal, with no material changes to economics expected. 
- **Market Momentum**: Pipeline growth across payers and providers, with AMG visits up 6.6% YoY (normalized). 
- **Tariff Impact**: Minimal direct exposure; platform ROI offsets macro uncertainty for clients. 
- **Cash Flow**: Targeting positive free cash flow in 2026, ending 2025 with ~$190M in cash. 
- **Product Strategy**: Leveraging AI to streamline consumer experience and integrate third-party clinical programs.

American Well (AMWL)-1 May 25-2025 Q1 Earnings call transcript

- **Subscription Surge**: 2025 subscription revenue to reach 60% of total ($150M+), up from 52% in 2024.
- **DHA Dominance**: 2025 contribution from MHS deployment ~$40M+, with 3+ year renewal likely.
- **Profit Path**: 2025 adjusted EBITDA improvement to -$55M to -$45M (60% YoY), with 2026+ positive cash flow.
- **Pipeline Power**: 2025 pipeline 6x larger, favoring high-margin software with 60%+ renewals.

**【CEO Opening Remarks】**
- **Strategic Refinement**: Focused on core mission, unified technology-enabled care platform, and cost reduction to achieve cash flow positive by 2026.
- **Key 2024 Achievements**: 
  - Military Health System (MHS) deployment progress with positive client feedback.
  - Divestiture of Amwell Psychiatric Care (APC), adding $30M to cash.
  - 60%+ improvement in adjusted EBITDA year-over-year.
- **2025 Priorities**: 
  - Full MHS deployment by Q3 2025.
  - Expand government and commercial contracts.
  - Margin expansion through subscription software growth.

**【CFO Financial Review】**
- **Q4 2024 Results**: 
  - Total revenue: $71M (flat YoY), subscription revenue: $37M (+36% YoY).
  - Adjusted EBITDA: -$22.8M (improvement of $14.1M YoY).
  - Gross margin: 48% (up 11pts vs Q3 2024).
  - Operating expenses: $68.6M (-29% YoY in R&D, -29% in S&M).
- **2025 Guidance**: 
  - Revenue: $250M-$260M (60%+ subscription mix).
  - Adjusted EBITDA: -$55M to -$45M (60% YoY improvement).
  - Cash end 2025: ~$190M; 2026+ positive cash flow.

**【Q&A Key Takeaways】**
- **DHA Contract**: 
  - Full deployment by Q3 2025; likely renewal for 3+ years.
  - 2025 contribution: ~$40M+ (half from subscription, half from implementation).
- **Subscription Growth**: 
  - ACV for health plans: $963K (+7% YoY); health systems: $488K (+17% YoY).
  - 2025 pipeline: 6x larger and higher quality than 2024.
- **Government Expansion**: 
  - 6+ material opportunities in 2025; leveraging Leidos partnership.
  - Long sales cycle but proven track record in MHS.
- **Cost Efficiency**: 
  - 2025 R&D: -10% YoY; S&M: -25% YoY; G&A: -20% YoY.
  - 2026+ free cash flow driven by 11-20% revenue growth and margin expansion.

American Well (AMWL)-12 Feb 25-2024 Q4 Earnings call transcript

- **DHA Contract Progress**: Enterprise-wide deployment on track for Q4 2024, positioning Amwell as a government sector leader.
- **Cost Efficiency**: Adjusted EBITDA improved to -$142M to -$137M for 2024, driven by reduced R&D, sales, and G&A expenses.
- **2025 Growth Focus**: Subscription revenue to stabilize near 2023 levels, with high-margin wins in virtual nursing and musculoskeletal programs.
- **Financial Strength**: $245M cash on hand, no debt, and gross margin maintained at 37%.
- **Risks**: Softness in visit volumes and client execution challenges may impact near-term growth, but 2026 cash flow positive target remains intact.

**【CEO Opening Remarks】**
- **DHA Contract Milestone**: Converge scheduled and group visits went live in Q3, with enterprise-wide deployment expected by end of 2024. This positions Amwell as a key player in the government sector.
- **Cost Optimization**: Improved 2024 EBITDA guidance reflects progress in aligning cost structure with strategic priorities. Full-year 2024 adjusted EBITDA now expected to be -$142M to -$137M.
- **2025 Growth Strategy**: Focus on high-margin subscription revenue, with pipeline quality improving and RFP traction increasing. Notable wins include Stanford Health, Wellstar, and Capital Blue Cross.

**【CFO Financial Highlights】**
- **Revenue Performance**: Q3 total revenue $61M (flat YoY). Subscription revenue $26.2M (-5% QoQ), but expected to stabilize near 2023 levels for full year. AMG visit revenue $27.5M (+7% YoY) due to specialty program mix shift.
- **Gross Margin**: 37% gross margin, consistent with prior quarters. Full-year gross margin expected to approximate 2023 levels.
- **Cost Management**: GAAP R&D expenses down 5% QoQ, with further reductions expected in Q4. Sales and marketing expenses $16.8M (-9% YoY). G&A expenses $25.2M (-12% YoY).
- **Balance Sheet**: $245M cash on hand with no debt.

**【Q&A Key Takeaways】**
- **2025 Growth Visibility**: CEO emphasizes subscription-heavy revenue with less reliance on variable visit volumes. 2025 pipeline includes high-quality, high-margin contracts.
- **DHA Contract Risks**: CFO highlights execution risks related to client pull-through and macroeconomic factors, but maintains confidence in 2026 cash flow positive target.
- **Platform Integration**: CEO explains Amwell's role as an orchestration layer for clinical programs, enabling third-party vendors to access patient populations via revenue share agreements.
- **Customer Relationships**: Focus on real-time outcome reporting to demonstrate ROI, aligning with industry shift toward value-based care models.


AMWL

AMWL fundamentals

Earnings Call

You can ask Aime