Amwell(US:AMWL)2025-05-01 20:10Financial Performance - Total revenue for Q1 2025 was $66.8 million, an increase from $59.5 million in Q1 2024[16] - Subscription revenue reached $32.2 million, while Amwell Medical Group visit revenue was $26.6 million[8] - Gross margin reported at 53%[8] - Net loss narrowed to $18.4 million compared to a net loss of $44.6 million in Q4 2024[8] - Adjusted EBITDA improved to a loss of $12.2 million from a loss of $22.8 million in Q4 2024[8] - Net loss for the three months ended March 31, 2025, was $18,356 thousand, a significant improvement from a net loss of $73,449 thousand in the same period of 2024, representing a reduction of approximately 75%[18] - Adjusted EBITDA for the three months ended March 31, 2025, was $(12,238) thousand, compared to $(45,651) thousand in the same period of 2024, indicating a 73% improvement year-over-year[24] Cash Flow and Liquidity - Cash flows from operating activities resulted in a net cash outflow of $25,108 thousand for Q1 2025, down from $59,756 thousand in Q1 2024, reflecting a 58% decrease in cash used[18] - Total cash, cash equivalents, and restricted cash at the end of Q1 2025 was $223,206 thousand, down from $309,394 thousand at the end of Q1 2024, a decrease of approximately 28%[18] - Cash paid for income taxes in Q1 2025 was $827 thousand, up from $630 thousand in Q1 2024, reflecting a 31% increase[18] Operational Metrics - Total visits for the quarter were 1.3 million, with projected AMG visits between 1.3 and 1.35 million[8] - The company reiterated its 2025 revenue guidance in the range of $250 to $260 million[8] - Q2 2025 revenue is expected to be between $62 million and $67 million, with adjusted EBITDA projected to be between ($12) million and ($10) million[8] Cost Management - Significant progress was made in revenue quality and cost alignment measures, targeting margin expansion for the year[3] - Stock-based compensation expense decreased to $7,339 thousand in Q1 2025 from $16,238 thousand in Q1 2024, a reduction of about 55%[18] - The company incurred $3,465 thousand in severance and strategic transformation costs in Q1 2025, compared to $8,659 thousand in Q1 2024, marking a 60% decrease[24] Revenue Recognition - Deferred revenue increased by $3,525 thousand in Q1 2025, compared to an increase of $14,589 thousand in Q1 2024, indicating a slowdown in revenue recognition[18] - The company reported a net gain on divestiture of $10,713 thousand in Q1 2025, which was not present in Q1 2024[18] - The company reported a decrease in accounts receivable by $6,120 thousand in Q1 2025, compared to a decrease of $27,506 thousand in Q1 2024, indicating a change in collection efficiency[18]