Amwell Raises 2026 Revenue Outlook After Beating Third-Quarter Range

The Tip Desk · November 3, 2026 · 2 min read

Third-quarter revenue was $49.0 million, above the $46 million to $48 million range the company had given, as it lifted full-year sales guidance to $204 million to $206 million.

American Well Corporation (AMWL), a provider of a SaaS-based technology-enabled healthcare platform, reported third-quarter revenue of $49.0 million, above the $46 million to $48 million range it had previously provided, and raised its 2026 revenue outlook.

The sequential sales path had already turned lower. Revenue was $52.0 million in the second quarter after $54.9 million in the first quarter. Subscription revenue was $23.9 million. Amwell Medical Group visit revenue was $23.7 million. Gross margin held at 53%, matching the second quarter after 51% in the first. Total visits on the platform were 0.8 million, unchanged from the second quarter after 1.1 million in the first.

Net loss was $11.0 million, compared with $9.6 million in the second quarter, reversing the sequential improvement from $10.3 million in the first quarter. Adjusted EBITDA was $3.6 million of a loss, versus $1.2 million in the second quarter.

The company said it is raising its 2026 revenue outlook and adjusted EBITDA outlook and reaffirming AMG visit guidance. Full-year revenue is now expected in a range of $204 million to $206 million, up from $200 million to $205 million. Adjusted EBITDA for 2026 is now expected in a range of $8 million to $7 million of a loss, up from $9 million to $7 million of a loss. AMG visits remain guided at 1.32 million to 1.37 million.

For the fourth quarter, the company guided revenue of $48 million to $50 million and adjusted EBITDA of $0 million to $1 million, versus third-quarter guidance of $46 million to $48 million of revenue and $5 million to $3 million of a loss on adjusted EBITDA. It reiterated its objective to achieve positive cash flow from operations in the fourth quarter of 2026.

Chairman and CEO Dr. Ido Schoenberg said health plans and employers want engagement, outcomes and proof, and that Amwell’s single platform is built to deliver all three. The company said it expects to generate positive cash flow from operations in the fourth quarter and that it believes it is well positioned to be the trusted platform where AI-powered care runs.

Cash and cash equivalents were $180.8 million at September 30, 2026.