Amwell Lifts 2026 Revenue Floor and EBITDA Outlook

The Tip Desk · October 27, 2026 · 2 min read

Second-quarter revenue of $52.0 million sat at the top of the prior range as the company raised full-year revenue to $200 million–$205 million.

American Well Corporation (AMWL), a SaaS-based technology-enabled healthcare platform, recorded second-quarter revenue of $52.0 million, at the top of the $48 million–$52 million range it had set for the period. The company raised the low end of its 2026 revenue outlook to $200 million–$205 million from $195 million–$205 million and lifted its full-year adjusted EBITDA range to ($9) million–($7) million from ($16) million–($12) million.

Chairman and Chief Executive Officer Dr. Ido Schoenberg said the Defense Health Agency’s intent to make Amwell a prime contractor was “a powerful endorsement of our platform and our people.” He said subscription revenue was approaching half of total revenue, that the company had no debt, and that positive cash flows from operations were projected for the fourth quarter.

Subscription revenue was $25.7 million. Amwell Medical Group visit revenue was $24.4 million, down from $28.9 million in the first quarter. Gross margin was 53%. Total visits on the platform were 0.8 million, compared with 1.1 million in the first quarter.

Net loss was ($9.6) million, versus ($10.3) million in the first quarter. Adjusted EBITDA was ($1.2) million, versus ($3.1) million in the first quarter. The company said the net loss was “continuously moving from quarter to quarter in a favorable trajectory.”

The company reaffirmed 2026 AMG visits of 1.32 million–1.37 million. For the third quarter of 2026 it guided revenue of $46 million–$48 million and adjusted EBITDA of ($5) million–($3) million. It reiterated its objective to achieve positive cash flow from operations in the fourth quarter of 2026.

Cash and cash equivalents were $195.9 million at June 30, 2026, compared with $182.3 million at year-end 2025. Stockholders’ equity was $234.3 million.

The company said it is “significantly improving Adjusted EBITDA” and is reaffirming AMG visit guidance. Schoenberg said the company has “never been better positioned to lead the era of AI-powered care.”

Amwell offers payers and health systems a single, comprehensive, technology-enabled care platform.