NYSE$AMWL
American Well Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced results for the fourth quarter and full year 2023, demonstrating progress in digital healthcare enablement and platform migration.
Amwell reported Q4 2023 total revenue of $70.7 million, with subscription revenue at $27.3 million and AMG visit revenue at $32.1 million. The company's gross margin was 34%, and it reported a net loss of $50.0 million. Total visits reached 1.6 million, with 52% occurring on the Converge platform. The company is focused on achieving profitability.
- Total revenue was $70.7 million.
- Subscription revenue reached $27.3 million.
- AMG visit revenue was $32.1 million.
- Total visits were 1.6 million, with 52% on the Converge platform.
Headline financials
Revenue & EPS history
American Well · Revenue · Quarterly
$70.7M
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 provided 2024 financial guidance, along with a preliminary view on revenue and adjusted EBITDA for 2025, as well as its objective to attain adjusted EBITDA breakeven.
Tailwinds
- Revenue in the range of $259 to $269 million in 2024.
- AMG visits between 1.6 and 1.7 million in 2024.
- Adjusted EBITDA in the range of between ($160) million to ($155) million in 2024.
- Revenue in the range of $335 to $350 million in 2025.
- Adjusted EBITDA in the range of between ($45) million to ($35) million in 2025.
Headwinds
- Incremental Research and Development investment associated with the previously announced deployment supporting the Defense Health Agency’s “Digital First” initiative.
- Adjusted EBITDA in the range of between ($160) million to ($155) million in 2024.
- The Company also communicated its objective to attain adjusted EBITDA breakeven in 2026.
- Net loss was ($50.0) million, compared to ($137.1) million in third quarter of 2023
- Adjusted EBITDA of ($36.9) million compared to ($38.5) million in the third quarter of 2023
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 Q4 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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