Core Insights - Amwell, a leading provider of a comprehensive SaaS-based software platform for technology-enabled healthcare, will have its CFO and COO, Mark Hirschhorn, participate in the TD Cowen 46th Annual Health Care Conference on March 3, 2026 [1] Company Overview - Amwell offers a single, comprehensive, technology-enabled care platform for payers and health systems, enhancing patient access to convenient, affordable, and effective care [2] - The Amwell platform includes software and services that support various clinical programs, providing unified, personalized access to diversified clinical programs across the care continuum [2] - The platform is proven to operate at a large scale, enabling care for millions of patients while delivering dependable outcomes [2] - Amwell has served some of the largest healthcare organizations in the U.S. and worldwide for almost two decades [2]

Core Insights - Amwell has refocused its strategy by consolidating multiple products into a single platform, enhancing its technology-enabled care offerings [3][4] - The company aims for predictable software-as-a-service revenue, which is expected to contribute to its financial stability [4] - Amwell is targeting to break even on cash flow from operations by the fourth quarter of 2026, despite a projected decline in revenue for that year [6] Financial Performance - Amwell narrowed its net loss in 2025 to $95 million, down from a loss of $212.6 million in 2024 [6] - Revenue declined approximately 2% year-over-year, with a significant drop of about 22% in the fourth quarter, attributed to lower revenue from its contract with the Defense Health Agency [6] - The company expects revenue in 2026 to be between $195 million and $205 million, a decrease from $249.3 million in 2025, but characterized as "high-quality, high-upside, sticky revenue" by the CEO [8] Strategic Initiatives - Amwell's major initiative includes a contract with the Defense Health Agency worth up to $180 million, which has faced budget restrictions affecting certain service deployments [7] - The company has divested several assets as part of its strategic shift, which is anticipated to impact revenue projections for 2026 [8]

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]

Core Viewpoint - Amwell, a leading provider of a SaaS-based software platform for technology-enabled healthcare, announced its financial results for Q4 and the full year of 2025, highlighting its growth and operational scale in the healthcare sector [1]. Financial Results - The financial results for the fourth quarter and full year ended December 31, 2025, are available for review, indicating the company's performance and growth metrics [1]. Company Overview - Amwell provides a comprehensive, technology-enabled care platform for payers and health systems, enhancing patient access to convenient, affordable, and effective care [3]. - The platform includes software and services that support various clinical programs, allowing for unified and personalized patient experiences across the care continuum [3]. - Amwell has been operational for nearly two decades, serving major healthcare organizations in the U.S. and globally, demonstrating its capability to deliver dependable outcomes at scale [3].

Core Insights - Amwell, a leading provider of a comprehensive SaaS-based software platform for technology-enabled healthcare, announced its financial results for the third quarter ended September 30, 2025 [1] Company Overview - Amwell offers a single, comprehensive, technology-enabled care platform for payers and health systems, enhancing patient access to convenient, affordable, and effective care [3] - The platform includes software and services that support various clinical programs, providing unified, personalized access to diversified clinical programs across the care continuum [3] - Amwell has been operational for almost two decades, serving some of the largest healthcare organizations in the U.S. and worldwide, enabling care for millions of patients [3]

Core Viewpoint - Amwell, a leading provider of a comprehensive SaaS-based technology-enabled healthcare platform, announced its financial results for the second quarter ended June 30, 2025 [1] Group 1: Financial Results - The second quarter earnings report for Amwell is available for review on their investor relations website [1] - A conference call to discuss the financial results is scheduled for today at 5 p.m. ET, accessible via a live audio webcast [2] Group 2: Company Overview - Amwell offers a single, comprehensive, technology-enabled care platform for payers and health systems, enhancing patient access to convenient, affordable, and effective care [3] - The platform includes software and services that support various clinical programs, providing unified and personalized access to diversified clinical programs across the care continuum [3] - Amwell has been operational for almost two decades, serving some of the largest healthcare organizations in the U.S. and globally, demonstrating its capability to deliver dependable outcomes at scale [3]

Core Viewpoint - Amwell is set to report its second quarter 2025 operating results on August 5, 2025, after market hours, followed by a live conference call to discuss the results and provide a business update [1]. Company Overview - Amwell provides a comprehensive SaaS-based software platform aimed at technology-enabled healthcare, facilitating better access to convenient, affordable, and effective care for patients [3]. - The platform integrates software and services that support various clinical programs, allowing for personalized access to diverse healthcare services [3]. - Amwell has been operational for nearly two decades, serving major healthcare organizations in the U.S. and globally, and is capable of delivering care to millions of patients [3]. Upcoming Events - Company executives will participate in investor conferences, including one-on-one meetings at the Wells Fargo Healthcare Conference on September 4 and the Morgan Stanley Global Healthcare Conference on September 9 [4].

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $66.8 million, a 12% increase compared to Q1 2024, and a 25% increase when normalizing for the sale of Amwell Psychiatric Care [21] - Subscription software revenue accounted for 48% of total revenue at $32.2 million, up 30% year-over-year [22] - Adjusted EBITDA improved to negative $12.2 million, compared to negative $45.6 million in Q1 2024, indicating a significant reduction in losses [26] Business Line Data and Key Metrics Changes - The number of completed visits in Q1 was approximately 1.3 million, which is about 23% lower than the previous year, but normalized for APC, it was 21% lower [22] - AMG's visit revenue trended 14.3% lower than last year at $26.6 million, but normalized for APC, visits were higher by 6.6% [23] - CarePoint revenue increased to $8 million from $4.9 million in the previous quarter, reflecting variable revenues due to consumer buying patterns [24] Market Data and Key Metrics Changes - The military health system is now fully utilizing Amwell's platform for virtual visits, positioning the company strongly in the federal market [10] - Patient and provider satisfaction on the platform is reported at over 90% [11] - The company anticipates a significant shift towards technology-enabled care as consumer demand for online services increases [14] Company Strategy and Development Direction - The company aims to achieve positive cash flow from operations by 2026, focusing on increasing the mix of subscription software revenues [20] - Amwell is positioned as a key enabler in the shift towards technology-enabled care, providing a unified platform for payers and providers [15] - The company is committed to driving efficiencies and optimizing cash flow while expanding its market reach [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing partnership with the DHA and the renewal of the contract with Leidos, indicating a strong future outlook [29] - The company is optimistic about its ability to navigate macroeconomic challenges, viewing its platform as a solution for efficiency and cost savings [48] - Management highlighted the importance of their unique offerings in a growing market, with expectations for continued growth and expansion [19] Other Important Information - The company ended Q1 2025 with $222 million in cash and marketable securities and zero debt [26] - The guidance for 2025 remains unchanged, with expected revenue in the range of $250 million to $260 million, excluding anticipated revenue from APC [27] Q&A Session Summary Question: Can you talk about bookings trends for CONVERGE and the impact of Dan's hire? - Management noted good receptivity to the AMOLED platform beyond DHA, with a focus on improving consumer experience and data infrastructure [35] Question: Is the current gross margin rate sustainable for the rest of the year? - Management indicated that gross margins should improve as software revenues increase, with expectations of reaching 75-90% margins [42] Question: Have macroeconomic factors impacted sales timelines? - Management acknowledged market uncertainty but noted that their platform is seen as part of the solution, leading to an acceleration in interest [48] Question: What is the status of the DHA contract and other government opportunities? - Management expects no significant changes in the economics of the DHA contract and highlighted their successful execution as a competitive advantage for future opportunities [55] Question: What is the company's exposure to tariffs? - Management stated that direct exposure to tariffs is minimal, as most software is developed in the U.S., and emphasized the platform's ROI for clients [58] Question: How is churn being managed, and what is the outlook for the selling season? - Management reported lower-than-expected churn and noted increased interest from both payers and health systems, indicating a positive outlook for the selling season [83]

Core Insights - Amwell, a leading provider of a comprehensive SaaS-based technology-enabled healthcare platform, announced its financial results for the first quarter ended March 31, 2025 [1] Company Overview - Amwell offers a single, comprehensive, technology-enabled care platform for payers and health systems, enhancing patient access to convenient, affordable, and effective care [3] - The platform includes software and services that support various clinical programs, providing unified, personalized access to diversified clinical programs across the care continuum [3] - Amwell has been operational for almost two decades, serving some of the largest healthcare organizations in the U.S. and worldwide, enabling care for millions of patients [3]

Company Overview - Amwell is a leading provider of a comprehensive SaaS-based software platform for technology-enabled healthcare, offering a unified care platform for payers and health systems [1] - The platform enhances patient access to convenient, affordable, and effective care, integrating various clinical programs [1] - Amwell has been operational for almost two decades, serving major healthcare organizations in the U.S. and globally [1] Upcoming Events - Mark Hirschhorn, CFO and COO of Amwell, will participate in one-on-one meetings at the Needham & Co. Virtual Technology and Services Conference on May 8 [4] - On June 24, Hirschhorn will also participate in the Truist Securities Healthcare Disruptors & Digital Health Conference in New York City [4]