Sees Q1 Adjusted EBITDA in Range of ($7M)-($5M)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 12 2026
0mins
Should l Buy AMWL?
Sees Q1 adjusted EBITDA in the range of ($7M)-($5M).
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Analyst Views on AMWL
Wall Street analysts forecast AMWL stock price to rise
4 Analyst Rating
0 Buy
4 Hold
0 Sell
Hold
Current: 5.300
Low
6.00
Averages
6.00
High
6.00
Current: 5.300
Low
6.00
Averages
6.00
High
6.00
About AMWL
American Well Corporation operates a hybrid care, delivery enablement platform in the United States and globally, connecting and enabling providers, payers, patients, and innovators to deliver access to more affordable quality care. It offers a single, comprehensive platform to support all digital health needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. The Amwell Converge platform offers data architecture and video capabilities, flexibility and scalability, as well as a user experience focused on the needs of patients, members and providers. For health systems, its enterprise platform enables provider-to-provider virtual care for use cases ranging from stroke to virtual nursing and e-sitting. Its Amwell Carepoint devices enable healthcare providers to leverage proprietary carts and transform existing tablets and TVs into digital access points in clinical settings, helping to address personnel shortages and access limitations.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Employee Inducement Plan: On February 18, 2026, Amwell granted 61,559 restricted stock units (RSUs) to a new employee as a significant inducement for employment, demonstrating the company's commitment to attracting and retaining talent.
- Vesting Schedule: The RSUs will vest 25% on the first anniversary of the grant date, with the remaining 75% vesting in equal pro-rata increments every three months over three years, ensuring employee stability and long-term commitment during this period.
- Compliance Assurance: This grant was approved by Amwell's Compensation Committee and made in reliance on the employment inducement exemption under NYSE's Listed Company Manual Rule 303A.08, ensuring the company operates within compliance frameworks.
- Platform Advantage: Amwell offers a comprehensive technology-enabled healthcare platform aimed at providing patients with more convenient, affordable, and effective care, and as demand for online healthcare increases, the company's competitive position and influence in the market continue to grow.
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- Strategic Transformation: American Well Corporation is undergoing a significant transformation in 2025, focusing on delivering the best tech platform in the market by divesting non-core activities and restructuring the company, which has dramatically reduced costs and set the stage for achieving cash flow breakeven in 2026.
- Revenue Structure Optimization: The total revenue for 2025 was $249.3 million, with subscription revenue comprising 53% of total revenue, up from 45% in 2024, indicating strategic progress towards high-quality, sustainable revenue despite a 22.1% year-over-year decline in overall revenue.
- Future Outlook: The company expects revenue in the range of $195 million to $205 million for 2026, with AMG visits projected between 1.32 million and 1.37 million, and adjusted EBITDA losses expected to decrease to between $24 million and $18 million, reflecting management's increased confidence in future cash flow.
- Risks and Challenges: Management identified ongoing risks such as continued churn and the need to renew the DHA contract, although proactive measures in maintaining high renewal rates and transitioning to a single platform are being implemented to address challenges posed by emerging AI competitors.
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- Earnings Beat: American Well's Q4 GAAP EPS of -$1.52 exceeded expectations by $0.26, despite a revenue drop of 22.1% year-over-year to $55.31 million, which still beat estimates by $2.6 million, showcasing the company's resilience in challenging conditions.
- 2026 Financial Outlook: The company projects 2026 revenue between $195 million and $205 million, with AMG visits expected between 1.32 million and 1.37 million, and adjusted EBITDA ranging from -$24 million to -$18 million, reflecting cautious optimism for future growth.
- Q1 2026 Guidance: American Well anticipates Q1 2026 revenue between $48 million and $53 million, with adjusted EBITDA projected between -$7 million and -$5 million, indicating ongoing short-term challenges but potential for gradual improvement.
- Positive Market Reaction: Despite the overall revenue decline, the market reacted positively to the company's earnings beat and future guidance, which may boost investor confidence and improve stock performance.
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- Earnings Announcement Date: American Well is set to release its Q4 earnings on February 12 after market close, with heightened investor interest due to the accelerated digital transformation in the healthcare sector.
- Expected Financial Performance: Analysts forecast an EPS of -$1.59, indicating challenges in profitability that could affect investor confidence and lead to stock price volatility.
- Revenue Decline Forecast: The anticipated revenue of $52.71 million represents a 25.8% year-over-year decline, reflecting pressures from intensified market competition and shifting customer demands, which may impact future growth strategies.
- Historical Financial Data: Historical earnings data for American Well shows that despite current challenges, the company has demonstrated resilience over the past few quarters, prompting investors to consider its long-term growth potential.
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- Significant Stock Decline: Hims & Hers Health closed at $19.33 on Monday, down 16.03%, reflecting market concerns over legal risks, particularly following the lawsuit filed by Novo Nordisk.
- Surge in Trading Volume: The company experienced a trading volume of 143.5 million shares, which is 688% above its three-month average of 18.2 million shares, indicating heightened investor anxiety regarding its future.
- Increased Legal Pressure: The lawsuit from Novo Nordisk seeks to prevent Hims & Hers from selling compounded versions of its patented drugs, intensifying the legal and regulatory challenges the company faces, which could impact its market strategy.
- Negative Market Reaction: Hims & Hers has seen a cumulative decline of 26.89% over the past five days, suggesting a waning investor confidence in its business transformation, especially after the announcement to withdraw its copycat obesity drug Wegovy.
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Quarterly Revenue and EPS: American Well Corporation (AMWL) reported $56.29 million in revenue for Q3 2025, a 7.8% decline year-over-year, with an EPS of -$1.74 compared to -$2.87 a year ago.
Surprise Metrics: The revenue exceeded the Zacks Consensus Estimate by 3.53%, while the EPS also surpassed expectations by 4.92%.
Investor Insights: Investors are advised to focus on key metrics that provide deeper insights into the company's performance, beyond just headline revenue and earnings figures.
Research Recommendations: Zacks Investment Research offers insights and recommendations, including a report on the "7 Best Stocks for the Next 30 Days."
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