American Well (NYSE:AMWL) Releases Earnings Results, Beats Estimates By $0.07 EPS

American Well (NYSE:AMWL) issued its earnings results on Thursday. The company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.59) by $0.07, FiscalAI reports. American Well had a negative return on equity of 34.07% and a negative net margin of 38.38%.The firm had revenue of $55.31 million during the quarter, compared to analysts’ expectations of $52.71 million.

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

• Company completed a strategic refocus to a single, API-first Amwell platform, divesting non-core assets and positioning itself as infrastructure for payers, government, and health systems.
• Financially, Amwell cut losses meaningfully in 2025 — reducing net loss and adjusted EBITDA shortfalls by about $100M each and lowering operating expenses (Q4 operating expense down 30.7%), showing improving operating leverage.
• Management guided to full-year 2026 revenue of $195M–$205M, an adjusted EBITDA loss of $24M–$18M, and expects to reach positive operating cash flow in Q4 2026 — a key inflection target for the company.
• Top-line pressure persists: Q4 revenue fell 22.1% year-over-year (total platform visits down ~28%), subscription revenue declined 22% YoY, partly driven by a DHA contract step-down and deliberate de-emphasis of lower-quality revenue streams.
• Commercial momentum and validation: Amwell executed 15+ payer renewals (including a 3‑year Elevance renewal), went live with Blue Cross Blue Shield of Florida, maintains a DHA relationship that validates security/resilience, and reports the largest pipeline in company history.

American Well Trading Up 24.1%

NYSE:AMWL opened at $5.38 on Friday. The stock has a market capitalization of $87.99 million, a P/E ratio of -0.90 and a beta of 1.36. American Well has a 1 year low of $3.71 and a 1 year high of $12.95. The firm has a 50 day moving average of $4.68 and a 200-day moving average of $5.47.

Insiders Place Their Bets

In related news, insider Dmitry Zamansky sold 6,243 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total transaction of $30,278.55. Following the completion of the sale, the insider directly owned 191,468 shares of the company’s stock, valued at $928,619.80. This trade represents a 3.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 14,633 shares of company stock worth $67,972. Company insiders own 11.82% of the company’s stock.

Institutional Trading of American Well

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of American Well by 280.6% in the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock valued at $510,000 after buying an additional 47,745 shares during the last quarter. Jane Street Group LLC increased its position in American Well by 232.9% in the 1st quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock valued at $505,000 after acquiring an additional 44,852 shares in the last quarter. Marshall Wace LLP increased its position in 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 acquiring an additional 38,018 shares in the last quarter. Norges Bank bought a new position in shares of American Well in the second quarter worth about $250,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of American Well by 36.0% during the third quarter. Dimensional Fund Advisors LP now owns 97,382 shares of the company’s stock worth $599,000 after purchasing an additional 25,798 shares in the last quarter. Institutional investors own 56.05% of the company’s stock.

American Well News Summary

Here are the key news stories impacting American Well this week:

• Positive Sentiment: Q4 results beat consensus: AMWL reported ($1.52) EPS vs. consensus ($1.59) and revenue of $55.31M vs. $52.71M expected — a modest beat that suggests underlying demand. Read More.
• Neutral Sentiment: Earnings call and transcript available; analysts and media are parsing commentary for signs of margin improvement and CAC trends. Read More.
• Neutral Sentiment: Independent write-ups (Zacks, Benzinga) provide metric-by-metric comparisons to estimates and discuss where growth drivers and cost levers may lie. Read More.
• Negative Sentiment: Guidance materially below Street expectations: Q1 revenue guide of $48.0M–$53.0M vs. consensus ~$59.9M, and FY2026 revenue guide of $195M–$205M vs. consensus ~$243.5M — the guidance shortfall is the clearest near-term driver of downward pressure on the stock. Read More.
• Negative Sentiment: Analyst action: Stifel cut its price target to $5.00 and moved to a “hold” — about a 7% downside from the current ~$5.38 level — reinforcing cautious sentiment after the outlook miss. Read More.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of American Well from $6.00 to $5.00 and set a “hold” rating for the company in a report on Friday. Wells Fargo & Company dropped their price target on shares of American Well from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of American Well from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley lowered their price objective on American Well from $10.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of American Well in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.42.

American Well Company Profile

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.