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Mar 31, 2021
American Well Q1 2021 Earnings Report
American Well's first quarter performance in 2021 showed revenue growth and increased provider and visit numbers.
Key Takeaways
Amwell's Q1 2021 results showed a revenue increase of 7% year-over-year to $57.6 million. Total active providers increased by 240% to approximately 81,000, and total visits increased by 120% to 1.6 million. The company's net loss was $39.8 million, and adjusted EBITDA was $(26.4) million, impacted by increased R&D investment in the Converge technology platform.
Total active providers reached approximately 81,000, a 240% increase year-over-year.
Total visits amounted to 1.6 million, representing a 120% increase compared to the previous year.
First quarter revenue increased 7% year-over-year to $57.6 million.
Net loss was $39.8 million and adjusted EBITDA was $(26.4) million due to increased R&D investment.
Revenue by Segment
Forward Guidance
Amwell reiterates their previous outlook for 2021.
Positive Outlook
- Revenue between $260 and $270 million
- AMG visit volume between 1.5 and 1.7 million
- Adjusted EBITDA between ($157) million and ($147) million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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