Q1 2025 American Well Corp Earnings Call Transcript
Key Points
- American Well Corp (AMWL) reported a strong start to 2025 with significant progress towards achieving positive cash flow from operations by 2026.
- The company made substantial advancements in its partnership with the military health system, positioning itself as a major contributor in the federal market landscape.
- AMWL's software revenue grew over 30% from Q1 of last year, driven by strategic client deployments.
- The company successfully increased its mix of subscription software revenues, targeting meaningful margin expansion this year.
- AMWL's platform reported high patient and provider satisfaction, with scores well over 90%.
- The deployment timing of AMWL's automated and digital behavioral health programs has been delayed to Q3 due to leadership transitions at the DHA.
- The company experienced a 23% decrease in completed visits compared to the previous year, reflecting a decline in visit revenue.
- Average revenue per visit decreased by 8% compared to last year's Q1.
- AMWL's adjusted EBITDA remains negative, although it has improved from the previous year.
- There is uncertainty regarding the renewal of the DHA contract, which is crucial for AMWL's future revenue projections.
Good day and thank you for standing by. Welcome to the Amwe first quarter 2025 earnings conference call. At this time, all participants are in listening mode. After the speaker's presentation, there will be a question answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again.
Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Sue Dewey, head of investor relations for Amwell. Please go ahead.
Hello everyone. Welcome to AWL's conference call to discuss our first fiscal quarter of 2025. This is Sue Dooley of AMWLL Investor Relations. Joining me today are AMWEL's Chairman and CEO Dr. Ito Schoonberg, and Mark Hirshhorn, our CFO and Chief Operating Officer.
Earlier today we distributed a press release detailing our announcement. Our earnings
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