Amwell Q2 revenue falls, co lifts low end of FY guidance

American Well

04/08/2026 21:51

Overview
US SaaS healthcare platform's Q2 revenue declined compared to last year
Subscription revenue neared half of total revenue in Q2
Company raised the low end of full-year revenue and adjusted EBITDA outlooks

Outlook
Company sees 2026 revenue between $200 mln and $205 mln, up from prior $195 mln to $205 mln
Company expects 2026 adjusted EBITDA between ($9) mln and ($7) mln, raised from ($16) mln to ($12) mln
Amwell reiterates objective to achieve positive cash flow from operations in Q4 2026

Result Drivers
SUBSCRIPTION REVENUE MIX - Co said subscription revenue approached half of total revenue in Q2, reflecting a shift in business model
GROSS MARGIN IMPROVEMENT - Co reported gross margin of 53% in Q2

Company press release: ID:nGNX4hls4Q

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$52.04 mln
 
Q2 Gross Margin
 
53.00%
 
Q2 Subscription Revenue
 
$25.70 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the healthcare facilities & services peer group is "buy."
Wall Street's median 12-month price target for American Well Corporation is $7.00, about 34.9% below its August 3 closing price of $10.76

Reuters Recommended Reads
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Aug 3 - Palantir lifts annual revenue forecast on steady demand for AI-powered data analytics
Aug 4 - DigitalOcean Q2 profit beats estimates, lifts 2026 revenue outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)