The earnings call highlighted strategic wins and significant improvements in software revenue and EBITDA. However, it also noted challenges such as the exclusion of certain programs from the Military Health System contract extension and reduced visit metrics, leading to revised revenue guidance. Despite these challenges, the company's cost reduction initiatives and strategic wins suggest a balanced outlook.

Company Guidance -

Q3 2025

During the Amwell Second Quarter 2025 Earnings Conference Call, the company provided updated guidance reflecting a focus on achieving positive cash flow from operations by 2026. Key financial highlights included a total revenue of $70.9 million for Q2, a 13% increase year-over-year, with subscription software revenue growing by 47% from the previous year, reaching $40.4 million and comprising 57% of total revenue. Average revenue per visit was reported at $73, reflecting an 8.3% year-over-year increase when adjusted for the sale of Amwell Psychiatric Care. Adjusted EBITDA improved significantly to negative $4.7 million, compared to negative $35 million in Q2 of 2024. The company anticipates full-year revenue for 2025 to be between $245 million and $250 million, with subscription software revenue expected to represent 53% of total revenues. They also project adjusted EBITDA to range from negative $50 million to negative $45 million, demonstrating a 65% improvement year-over-year. The guidance revision primarily reflects contributions from their government business, specifically the extension of the Military Health System contract, which excludes behavioral health and automated care programs due to budget restrictions. The company ended Q2 with $219 million in cash and marketable securities, maintaining zero debt.

Strategic Win with Florida Blue

Secured a new contract with Blue Cross Blue Shield of Florida, known for innovation, to white label their brand and provide unified access to integrated clinical programs.

Military Health System Contract Extension

Extended engagement to deliver SaaS software platform for Military Health System's digital-first initiatives for another year, tripling virtual visits and achieving high satisfaction among providers and patients.

Significant Software Revenue Growth

Software revenue grew over 47% year-over-year, driven by strategic client deployments and milestones.

Improved Adjusted EBITDA

Achieved a significant improvement in adjusted EBITDA, moving from a negative $35 million in Q2 of last year to a negative $4.7 million, marking the fifth consecutive quarter of improvement.

Cost Reduction Initiatives

Reduced R&D expenses by approximately 12.2% and sales and marketing expenses by 32% compared to last year's second quarter, resulting in substantial progress towards a leaner cost structure.

American Well (AMWL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

AMWL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2025 (Q3)	-1.79 / -	-2.87	―	―	―
Aug 05, 2025	2025 (Q2)	-1.77 / -1.24	-3.36	63.10% (+2.12)	―
May 01, 2025	2025 (Q1)	-2.77 / -1.19	-5	76.20% (+3.81)	―
Feb 12, 2025	2024 (Q4)	-2.93 / -2.77	-3.4	18.53% (+0.63)	―
Oct 30, 2024	2024 (Q3)	-3.41 / -2.87	-9.6	70.10% (+6.73)	―
Jul 31, 2024	2024 (Q2)	-3.99 / -3.36	-6.6	49.09% (+3.24)	―
May 01, 2024	2024 (Q1)	-4.00 / -5.00	-28.4	82.39% (+23.40)	―
Feb 14, 2024	2023 (Q4)	-3.96 / -3.40	-4.4	22.73% (+1.00)	―
Nov 01, 2023	2023 (Q3)	-4.18 / -9.60	-5	-92.00% (-4.60)	―
Aug 02, 2023	2023 (Q2)	-4.48 / -6.60	-5	-32.00% (-1.60)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AMWL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$8.48	$7.86	-7.31%
May 01, 2025	$6.19	$7.41	+19.71%
Feb 12, 2025	$12.35	$11.73	-5.02%
Oct 30, 2024	$9.65	$9.16	-5.08%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does American Well (AMWL) report earnings?

American Well (AMWL) is schdueled to report earning on Nov 11, 2025, After Close (Confirmed).

What is American Well (AMWL) earnings time?

American Well (AMWL) earnings time is at Nov 11, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is AMWL EPS forecast?

AMWL EPS forecast for the fiscal quarter 2025 (Q3) is -1.79.

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