Significant Growth in Software Revenue
Software revenue grew over 47% from Q2 of last year, driven by strategic client deployments and milestones.
Extension of Military Health System Contract
Amwell received an anticipated extension of their engagement to deliver their SaaS software platform for the Military Health System's digital-first initiative.
Positive EBITDA Improvements
Adjusted EBITDA showed improvement for the fifth consecutive quarter, moving from negative $35 million in Q2 of last year to negative $4.7 million.
New Strategic Client Win
Amwell secured a strategic win with Florida Blue for a white-labeled platform providing integrated clinical programs.
Cost Reductions Achieved
R&D expenses declined by approximately 12.2% compared to last year, and sales and marketing expenses were reduced by roughly 32%.