American Well (NYSE:AMWL) Issues Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Posted by Geri Gentry on Aug 6th, 2026

American Well (NYSE:AMWL – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.27, FiscalAI reports. American Well had a negative net margin of 35.75% and a negative return on equity of 29.59%. The business had revenue of $52.05 million for the quarter, compared to the consensus estimate of $49.87 million.

Here are the key takeaways from American Well’s conference call:

DHA intends to award Amwell a direct sole-source contract, with negotiations underway and an expected transition by July 2027. The deal could provide longer-term visibility and potentially expand Amwell’s scope of services, although revenue terms are not yet finalized.
Cost reductions drove adjusted EBITDA loss down to approximately $1.2 million from $4.7 million a year ago, while operating expenses fell 38% year over year. Amwell raised full-year adjusted EBITDA guidance to a loss of $7 million-$9 million and remains confident in reaching adjusted EBITDA and operating cash-flow breakeven in Q4 2026.
Second-quarter revenue declined 26.6% year over year to $52 million, primarily reflecting previously disclosed customer churn and the absence of a one-time DHA-related subscription benefit from last year. Management expects third-quarter revenue of $46 million-$48 million, with seasonal visit declines and project-related costs weighing on results.
Subscription revenue increased 3.2% sequentially and now represents more than half of total revenue, while higher-acuity programs lifted revenue per AMG visit and virtual primary care visits grew 30% year over year. Management also cited strong renewals and a growing payer and government pipeline, with a goal of returning to double-digit growth in 2027.
Amwell is narrowing its strategy around a single platform for payer and government customers, while continuing to divest or de-emphasize non-core assets. Executives said health systems remain important customers, but government and payer opportunities currently offer the greatest growth potential.

American Well Trading Down 1.3%

AMWL stock traded down $0.17 during midday trading on Thursday, reaching $12.85. 96,832 shares of the company’s stock traded hands, compared to its average volume of 98,577. American Well has a 52-week low of $3.71 and a 52-week high of $14.19. The stock has a market cap of $212.68 million, a P/E ratio of -2.69 and a beta of 1.68. The stock’s 50-day moving average is $9.77 and its 200 day moving average is $7.21.

Insider Transactions at American Well

In related news, Director Stephen J. Schlegel sold 9,750 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $8.76, for a total value of $85,410.00. Following the completion of the sale, the director directly owned 54,553 shares of the company’s stock, valued at approximately $477,884.28. This represents a 15.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Phyllis Gotlib sold 6,677 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total transaction of $62,296.41. Following the sale, the insider owned 152,754 shares in the company, valued at approximately $1,425,194.82. The trade was a 4.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,225 shares of company stock worth $268,623 in the last 90 days. 12.84% of the stock is currently owned by insiders.

Institutional Trading of American Well

Several institutional investors and hedge funds have recently modified their holdings of AMWL. Squarepoint Ops LLC lifted its holdings in shares of American Well by 74.5% in the 4th quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock valued at $565,000 after acquiring an additional 49,135 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in American Well by 280.6% during the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock worth $510,000 after acquiring an additional 47,745 shares during the last quarter. Jane Street Group LLC raised its position in American Well by 232.9% during the first quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock valued at $505,000 after purchasing an additional 44,852 shares during the period. XTX Topco Ltd purchased a new stake in American Well during the fourth quarter valued at approximately $215,000. Finally, Marshall Wace LLP lifted its stake in shares of American Well by 76.9% in the 4th quarter. Marshall Wace LLP now owns 87,447 shares of the company’s stock valued at $429,000 after purchasing an additional 38,018 shares during the last quarter. 56.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. TD Cowen raised their price objective on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Truist Financial set a $7.50 price target on shares of American Well in a report on Monday, June 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Well in a report on Friday, July 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research report on Wednesday. Finally, Morgan Stanley boosted their target price on shares of American Well from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.60.

Read Our Latest Analysis on American Well

About American Well

(Get Free Report)

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.