Core Viewpoint - Momentum investing focuses on "buying high and selling higher," contrasting with traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investing can be risky as stocks may lose momentum if future growth does not justify high valuations [1] - A safer approach involves investing in bargain stocks that exhibit recent price momentum [2] Group 2: American Well Corporation (AMWL) Analysis - AMWL has shown a price increase of 20.2% over the past four weeks, indicating growing investor interest [3] - The stock gained 36.5% over the past 12 weeks, demonstrating its ability to deliver positive returns over a longer timeframe [4] - AMWL has a beta of 1.36, suggesting it moves 36% higher than the market in either direction [4] - The stock has a Momentum Score of A, indicating a favorable entry point for investors [5] - AMWL has a Zacks Rank 2 (Buy) due to upward revisions in earnings estimates, which attract more investors [6] - The stock is trading at a Price-to-Sales ratio of 0.36, indicating it is relatively cheap at present [6] Group 3: Additional Investment Opportunities - Besides AMWL, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen [7] - Investors can explore over 45 Zacks Premium Screens tailored to different investing styles [8]

Against that backdrop, Schoenberg said “technology-enabled care is no longer optional,” and he positioned hybrid care—combining automation with targeted clinician time—as essential for reducing costs and improving outcomes. He also described AI as accelerating changes across engagement, intake, decision support, workflows, risk stratification, and outcomes measurement, while noting the need to manage risk and operate within regulated environments.Schoenberg said the healthcare landscape heading into 2026 is ...

Core Insights - American Well Corporation (AMWL) reported a revenue of $55.31 million for the quarter ended December 2025, reflecting a year-over-year decline of 22.1% [1] - The earnings per share (EPS) was -$1.43, an improvement from -$2.77 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $52.51 million by 5.32%, while the EPS also surpassed the consensus estimate of -$1.59 by 10.06% [1] Revenue Breakdown - Platform subscription revenue was $28.84 million, exceeding the two-analyst average estimate of $26.14 million, but still down 22% year-over-year [4] - Other revenue amounted to $2.76 million, falling short of the two-analyst average estimate of $3.92 million, representing a significant year-over-year decline of 43.4% [4] - Revenue from visits reached $23.71 million, surpassing the two-analyst average estimate of $22.38 million, but still down 18.7% compared to the previous year [4] Stock Performance - Over the past month, shares of American Well have returned -8.7%, compared to a -0.3% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it may perform in line with the broader market in the near term [3]

Core Insights - The healthcare industry is experiencing a significant shift towards technology-enabled care, driven by the need for operational efficiency and cost reduction. Payers and health systems are adopting unified platforms to enhance patient engagement and streamline workflows [1][2][3] Industry Trends - The Medicare population is aging, pharmacy costs are rising, and overall healthcare expenses are increasing, particularly in behavioral health and GLP-1 usage. Clinician shortages and evaporating subsidies are putting pressure on payer margins, making technology-enabled care essential [2] - The integration of AI in healthcare is rapidly evolving, with a focus on improving clinical programs and patient outcomes. The ability to manage multiple AI solutions effectively is becoming a critical challenge for healthcare providers [5][26] Company Strategy - American Well Corporation has undergone a transformation to focus exclusively on its technology platform, aiming for cash flow breakeven by Q4 2026. The company is consolidating its offerings to enhance operational efficiency and improve revenue quality [3][20] - The company has divested non-core activities and streamlined its operations, resulting in a significant reduction in costs and improved subscription revenue, which now constitutes 53% of total revenue, up from 45% in 2024 [11][12] Financial Performance - In 2025, American Well Corporation reported total revenue of $249.3 million, with a notable reduction in net loss and adjusted EBITDA losses by approximately $100 million each. The fourth quarter saw total revenue of $55.3 million, reflecting a 22.1% year-over-year decline, primarily due to contract changes and business reprioritization [11][12][13] - The company expects revenue for 2026 to be between $195 million and $205 million, with adjusted EBITDA losses projected between $24 million and $18 million. The guidance reflects expectations of continued subscription stability and operational efficiencies [17][18] Market Position - American Well Corporation's platform is positioned as a critical utility for healthcare providers, enabling them to integrate various clinical programs and maintain network adequacy, especially in behavioral health services [6][7] - The company has secured over 15 payer contract renewals, strengthening its recurring revenue base and positioning for future growth. The focus on high-quality, sticky revenue is expected to drive same-store growth and enhance market penetration [9][45]

American Well (NYSE:AMWL) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsEric Percher - Co-founderIdo Schoenberg - Chairman and CEOMark Hirschhorn - CFO and COOConference Call ParticipantsCraig Hettenbach - Managing Director and Senior Equity Research AnalystDave Larsen - Managing Director, Senior Healthcare IT and Digital Health AnalystJailendra Singh - Managing Director and Senior Equity Research AnalystRyan MacDonald - Managing Director and Senior Equity Research AnalystNone - An ...

Financial Data and Key Metrics Changes - Total revenue for 2025 was $249.3 million, with subscription revenue representing 53% of total revenue, up from 45% in 2024 [12][13] - In Q4 2025, total revenue was $55.3 million, a 22.1% year-over-year decline, with subscription revenue at $28.8 million, down 22% year-over-year [13][14] - Adjusted EBITDA for Q4 was a loss of $10.3 million, an improvement from a loss of $12.7 million in Q3 2025 and a 55% improvement from $22.8 million in Q4 2024 [16] - Net loss for Q4 was $25.2 million, compared to $30.7 million in Q3, representing a 43.5% improvement year-over-year [16] Business Line Data and Key Metrics Changes - Amwell Medical Group (AMG) visit revenue was $23.7 million in Q4, down 18.7% year-over-year, with paid AMG visits flat at approximately 340,000 [14] - Total platform visits were 1 million in Q4, down 28.4% year-over-year from 1.4 million visits in Q4 2024 [14] Market Data and Key Metrics Changes - The healthcare landscape is shifting towards operational efficiency, with payers and health systems pursuing platform consolidation and automation [3][4] - The Medicare population is aging, pharmacy costs are surging, and clinician shortages are worsening, creating a demand for technology-enabled care [4][5] Company Strategy and Development Direction - The company has focused exclusively on offering a tech platform, transitioning from a telehealth provider to a trusted enterprise infrastructure [9][10] - Amwell aims to achieve cash flow breakeven from operations in Q4 2026, with a focus on high-quality, sticky revenue [11][19] - The strategy includes leveraging AI to enhance patient experience and improve operational efficiencies [11][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the impact of AI on healthcare and the company's ability to integrate AI programs into a regulated infrastructure [26][28] - The company anticipates a strong secular trend towards technology-enabled care, with clients expected to invest in using the platform more frequently [42][43] Other Important Information - The company ended 2025 with approximately $182 million in cash and marketable securities, and no debt [17] - For 2026, revenue guidance is projected between $195 million and $205 million, with expected AMG visits between 1.32 million and 1.37 million [17][18] Q&A Session Summary Question: Client contract renewals and government opportunities - Management indicated that most contracts signed in 2025 were renewals, with fewer open renewals in 2026, except for the DHA renewal expected in summer 2026 [22] Question: AI impact and competitive landscape - Management is optimistic about AI's impact on healthcare, emphasizing the need for a consistent infrastructure to integrate multiple AI programs [26][28] Question: Headwinds and tailwinds for 2026 guidance - Tailwinds include earlier adoption of the technology-enabled platform, while headwinds involve the upcoming DHA renewal [32][33] Question: Revenue quality and de-emphasis of certain areas - The company has centralized its offering around the Amwell platform, divesting non-core activities to focus on high-quality revenue [48][49] Question: Go-to-market strategy for new opportunities - Renewals are seen as new sales due to the platform's evolution, with a focus on commercial payers and government sectors for growth [56][58]

Financial Data and Key Metrics Changes - Total revenue for 2025 was $249.3 million, with subscription revenue representing 53% of total revenue, up from 45% in 2024 [12][13] - In Q4 2025, total revenue was $55.3 million, a 22.1% year-over-year decline, with subscription revenue at $28.8 million, down 22% year-over-year [14][15] - Adjusted EBITDA for Q4 was a loss of $10.3 million, an improvement from a loss of $22.8 million in Q4 2024 [17] - Net loss for Q4 was $25.2 million, compared to $30.7 million in the previous quarter, representing a 43.5% improvement year-over-year [17] Business Line Data and Key Metrics Changes - Amwell Medical Group (AMG) visit revenue was $23.7 million, down 18.7% year-over-year, with paid AMG visits flat at approximately 340,000 [15] - Total platform visits were 1 million, down 28.4% year-over-year from 1.4 million visits in Q4 2024 [15] Market Data and Key Metrics Changes - The healthcare landscape is shifting towards operational efficiency, with payers and health systems pursuing platform consolidation and automation [3][4] - The Medicare population is aging, pharmacy costs are surging, and clinician shortages are worsening, driving demand for technology-enabled care [4][5] Company Strategy and Development Direction - The company has focused exclusively on offering a tech platform, enhancing patient engagement and reducing costs through automation and AI [6][9] - Amwell has divested non-core activities, such as the sale of APC, and restructured to reduce costs and improve revenue quality [10][11] - The company aims to achieve cash flow breakeven from operations in Q4 2026, with a focus on high-quality, sticky revenue [11][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the impact of AI on healthcare and the company's role in integrating AI programs into a regulated infrastructure [26][29] - The company anticipates a strong secular trend towards technology-enabled care, with expectations for growth in both payer and government segments [44][46] Other Important Information - The company ended 2025 with approximately $182 million in cash and marketable securities and no debt [18] - For 2026, revenue is expected to be in the range of $195 million to $205 million, with AMG visits projected between 1.32 million and 1.37 million [18][19] Q&A Session Summary Question: What is the status of existing client contracts and government opportunities? - Management indicated that most contracts signed in 2025 were renewals, with significantly fewer open renewals in 2026, except for the DHA renewal expected in summer 2026 [22][23] Question: How does the company view the competitive landscape with new AI entrants? - Management is optimistic about AI's impact on healthcare and believes that their platform's ability to integrate multiple AI programs will provide a competitive advantage [25][27] Question: What are the headwinds and tailwinds for 2026 guidance? - Tailwinds include earlier adoption of the technology-enabled platform, while headwinds involve the upcoming DHA renewal [32][34] Question: Can you elaborate on the DHA revenue step down and potential recovery? - Management confirmed a step down in DHA revenue due to the elimination of certain programs but expressed confidence in the renewal and potential for additional revenue [35][36] Question: How does the company plan to resume growth in 2026? - Management emphasized the importance of their unified platform and the expected increase in usage across various care segments, particularly in government and payer markets [42][44]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39515 American Well Corporation Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) ...

Exhibit 99.1 • Recorded Total Revenue of $55.3 million exceeding the previously provided financial guidance from Q3 o Achieved subscription revenue of $28.8 million o Recorded Amwell Medical Group ("AMG") visit revenue of $23.7 million • Reported gross margin of 51% • Net loss was ($25.2) million, compared to ($31.9) million in third quarter of 2025 • Adjusted EBITDA of ($10.3) million compared to ($12.7) million in the third quarter of 2025 • Total visits were 1.0 million; AMWELL® ANNOUNCES RESULTS FOR FOU ...

BOSTON, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Amwell® (NYSE: AMWL), a leading provider of a comprehensive SaaS-based software platform for technology-enabled healthcare, today announced financial results for the fourth quarter and full year ended December 31, 2025. The company’s fourth quarter and full year 2025 earnings report can be viewed at investors.amwell.com. Amwell will host a conference call to discuss its financial results today at 5 p.m. ET. The call can be accessed via a live audio webcast at https: ...