Quarterly ResultMay 5, 2026, 04:24 PM
American Well Q1 Revenue Down 18% to $54.9M; Net Loss Narrows to $10.9M
AI Summary
American Well reported a significant reduction in net loss for Q1 2026, narrowing to $10.9 million from $18.7 million in Q1 2025, and a substantial decrease in cash used in operating activities. This improvement occurred despite an 18% decline in total revenue to $54.9 million. The company also recognized an additional $7.0 million gain from a prior divestiture and recorded a $3.4 million impairment on a right-of-use asset.
Key Highlights
- Net loss attributable to American Well Corp narrowed 41.8% to $10.9 million from $18.7 million YoY.
- Total revenue decreased 18% to $54.9 million from $66.8 million YoY.
- Net cash used in operating activities improved significantly to $0.98 million from $25.1 million YoY.
- Recognized an additional $7.0 million gain from the 2025 divestiture of the APC Business.
- Recorded a $3.4 million impairment on a right-of-use asset due to abandoning corporate headquarters.
- Deferred revenue increased 30.8% to $30.7 million as of March 31, 2026.
- Remaining performance obligations grew 24.7% to $106.3 million as of March 31, 2026.
- Platform subscription revenue decreased 22.6% to $24.9 million; Visits revenue increased 8.5% to $28.9 million.
Price Impact
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