Q3 2025 American Well Corp Earnings Call Transcript
Key Points
- American Well Corp (AMWL) delivered results ahead of expectations for both revenue and adjusted EBITDA, reflecting stronger subscription retention and increased visit volume in specialty care and virtual primary care.
- The company is making significant progress in executing its plan to achieve cash flow break-even by the end of 2026, with a focus on efficiency and quality.
- AMWL's enterprise-grade AI infrastructure is being integrated into core workflows, enhancing patient intake, personalized dialogue, and clinical program matching.
- The company has successfully reduced operating expenses by 16% year-over-year, with significant decreases in sales and marketing, R&D, and G&A expenses.
- AMWL's unique business model allows clients to use their own white-labeled experience, offering a unified customer-branded gateway to all their covered programs.
- Total revenue decreased by 8% year-over-year, impacted by the step down in contribution from Lidos and the divestiture of APC.
- Total visit volume was down 21% from a year ago, although it was in line with expectations.
- Average revenue per visit decreased by 14% compared to last year's Q3, although it was slightly higher when normalized for the sale of APC.
- The company reported a cash burn of approximately $18 million in Q3, ending the quarter with $201 million in cash and marketable securities.
- AMWL is facing challenges with market fragmentation and vendor fatigue, as employers manage multiple point solutions with only 22% trusting these vendors to act in their best interest.
Hello everyone and welcome to Amwell's conference call to discuss their third fiscal quarter of 2025. Joining us on the call today are Amwell's Chairman and CEO Dr. Ito Schoenberg and Mark Hirshhorn, Amwell's CFO and Chief Operating Officer.
Earlier today, a press release was distributed detailing their announcement.
The earnings report is posted on the AMOL website at investors. Awe.com and is also available through normal news sources. This conference call is being webcast live on the IR page of the website where replay will be archived.
Before they begin prepared remarks, I'd like to take this opportunity to remind you that during the call we will make forward-looking statements regarding projected operating results and anticipated market opportunities.
This forward-looking information is subject to the risks and uncertainties described in the filings of the SEC. Actual results or events may differ materially, except as required by law, we undertake no obligation to update or revise these forward-looking statements. On this call, we'll refer to both GAAP and non
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