NYSE$AMWL
American Well Corp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Announced results, reporting a total revenue of $61.9 million and a net loss of $137.1 million.
Amwell reported Q3 2023 financial results, with total revenue of $61.9 million. The company's net loss was $137.1 million, which included non-cash goodwill impairment charges of $78.9 million. Adjusted EBITDA improved to ($38.5) million. The company reached its goal of 50% of visits on Converge one quarter ahead of schedule.
- Total revenue was $61.9 million.
- Subscription revenue reached $28.4 million.
- Amwell Medical Group (AMG) visit revenue totaled $26.7 million.
- Net loss was ($137.1) million, including non-cash goodwill impairment charges of $78.9 million.
Headline financials
Revenue & EPS history
American Well · Revenue · Quarterly
$61.9M
Revenue by segment
American Well · $28.4M total across 1 segment · Q3 2023
- Subscription Revenue$28.4M-11.0%100.0%
Forward guidance
The Company’s guidance for 2023 calls for revenue in line with prior guidance range of $257 to $263 million; AMG visits between 1.525 and 1.575 million; and a new Adjusted EBITDA range of between ($162) million to ($167) million.
Tailwinds
- Revenue in line with prior guidance range of $257 to $263 million
- AMG visits between 1.525 and 1.575 million
Headwinds
- Adjusted EBITDA range of between ($162) million to ($167) million, compared to previous guidance of ($160) million to ($165) million.
- Reflects incremental Research and Development investment in Q4 associated with deployment of the previously announced Defense Health Agency “Digital First” win.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+1.4%
Avg return
Earnings day
+2.1%
Avg return
5 days after
-2.2%
Avg return
30 days after
41%
9 / 22 earnings
Positive
+33.8%
Q2 2024
Best reaction
-20.9%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.0% | +27.2% | +34.0% | |
| Q4 2025 | +24.7% | +34.9% | +29.8% | |
| Q3 2025 | -9.5% | -20.0% | -20.6% | |
| Q1 2025 | +19.7% | +9.5% | +8.9% | |
| Q4 2024 | -5.0% | -3.6% | -35.5% | |
| Q3 2024 | -5.0% | -5.4% | -0.7% | |
| Q2 2024 | +33.8% | +13.9% | -1.1% | |
| Q1 2024 | +2.0% | +11.4% | -16.3% | |
| Q4 2023 | +23.6% | +20.8% | -16.0% | |
| Q3 2023 | +14.5% | +4.3% | +11.1% | |
| Q2 2023 | -8.3% | -13.9% | -35.2% | |
| Q1 2023 | -3.9% | -2.9% | +17.9% | |
| Q4 2022 | -13.1% | -19.2% | -37.3% | |
| Q3 2022 | -2.2% | +14.9% | -8.3% | |
| Q2 2022 | +9.2% | +6.8% | -4.8% | |
| Q1 2022 | -10.8% | +8.8% | +37.6% | |
| Q4 2021 | +7.2% | +1.0% | -8.0% | |
| Q3 2021 | -7.4% | -3.7% | -29.7% | |
| Q2 2021 | +0.7% | -1.7% | +0.8% | |
| Q1 2021 | -20.9% | -5.7% | +9.5% | |
| Q4 2020 | -4.1% | -10.8% | -1.5% | |
| Q3 2020 | -11.9% | -19.8% | +17.1% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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