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Sep 30, 2021
American Well Q3 2021 Earnings Report
Announced results for the third quarter of 2021.
Key Takeaways
Amwell's total revenue was $62.2 million, with a gross margin of 43.5%. The company had a net loss of $50.9 million and an adjusted EBITDA of ($31.5) million. Total active providers were approximately 80,000 and total visits were approximately 1.4 million.
Revenue of $62.2 million in the third quarter
Gross margins of 43% of revenue compared to 33% last year
Total visits of 1.4 million
Total active providers of approximately 80,000 at the end of the third quarter versus 71,000 last quarter and 62,000 last year
Revenue by Segment
Forward Guidance
For 2021, the Company is narrowing and adjusting their previous visits outlook as a direct result of the impact of the COVID-Delta variant and now expects: Revenue between $246 and $253 million and Adjusted EBITDA between ($143) and ($136) million.
Positive Outlook
- Acknowledges gross margin expansion due to visit mix shift more toward high margin urgent care
- Overall operational efficiencies
Challenges Ahead
- Revenue between $246 and $253 million from the previous range of $252 to $262 million
- Mainly to account for decreases in visit volume
- Shifts in visit-type mix toward urgent care versus specialty due to the COVID-Delta variant
- AMG visit volume to end the year at the lower quartile of the range of 1.4 and 1.5 million
- Adjusted EBITDA between ($143) and ($136) million from the previous range of ($154) and ($146) million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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