The EPS beat and improving EBITDA trajectory may support near-term price, but the 18% revenue decline and below-prior-year full-year guidance signal secular headwinds. Watch for Q2 results and progress toward Q4 2026 cash flow breakeven.
Price Chart
Executive Summary
Amwell reported Q1 2026 revenue of $54.9M (down 18% YoY) but beat consensus estimates on both EPS ($-0.66 vs $-0.77) and revenue ($54.9M vs $51.5M). Adjusted EBITDA loss narrowed to $3.1M, and full-year 2026 guidance for adjusted EBITDA was improved, though revenue guidance remains unchanged at $195-205M.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $54.9M, down 18% from $66.8M in Q1 2025
- GAAP EPS $-0.66 vs consensus $-0.77 (beat by 14.3%)
- Adjusted EBITDA loss improved to $3.1M from $10.3M in Q4 2025
- Full-year 2026 revenue guidance reaffirmed at $195-205M, well below 2025 revenue of $249M
- Full-year 2026 adjusted EBITDA guidance improved to ($16M)-($12M) from ($24M)-($18M)
- Q2 2026 revenue guidance $48-52M, adjusted EBITDA ($4M)-($2M)
- Cash and securities $180M, net cash used in operations improved to $1M from $25M YoY
Financial Impact
Revenue miss on a YoY basis but beat consensus; EPS beat driven by cost reduction; guidance implies continued top-line contraction.
Risk Factors
- Continued revenue decline as 2026 guidance implies further contraction
- Dependence on DHA contract renewal beyond July 2026
- High cash burn despite improvement; breakeven target dependent on cost control
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-206427 |
| Document: amwl-20260505.htm | 0001193125-26-206427 |
| Document: 0001193125-26-206427-index-headers.html | 0001193125-26-206427 |
| Document: 0001193125-26-206427-index.html | 0001193125-26-206427 |
| Document: 0001193125-26-206427.txt | 0001193125-26-206427 |
| 8-K Data (Synthetic) | 0001193125-26-206427 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 4w ago | Insider Cluster | $13.25 $12.39 | ▼ −6.49% | ▼ −5.30% | $12.82 (−3.25%) |
Aug 4, 2026 8w ago | 8-K | $13.02 $12.83 | ▼ −1.46% | ▼ −0.86% | $12.82 (−1.54%) |
Jul 1, 2026 13w ago | 144 | $9.25 $10.84 | ▲ +17.19% | ▲ +17.60% | $12.82 (+38.59%) |
Jul 1, 2026 13w ago | Insider Cluster | $9.37 $10.77 | ▲ +14.94% | ▲ +17.13% | $12.82 (+36.82%) |
Jun 9, 2026 16w ago | DEFA14A | $8.50 $8.99 | ▲ +5.76% | ▲ +4.32% | $12.82 (+50.82%) |
Jun 3, 2026 17w ago | Insider Cluster | $8.65 $9.25 | ▲ +6.92% | ▲ +8.55% | $12.82 (+48.19%) |
Jun 1, 2026 17w ago | 144 | $8.35 $9.37 | ▲ +12.20% | ▲ +14.02% | $12.82 (+53.51%) |
May 18, 2026 19w ago | Press Release | $7.60 $8.69 | ▲ +14.33% | ▲ +12.14% | $12.82 (+68.66%) |
May 12, 2026 20w ago | 8-K | $7.69 $8.42 | ▲ +9.48% | ▲ +11.21% | $12.82 (+66.69%) |
May 5, 2026 21w ago | 8-K | $6.99 $8.46 | ▲ +21.01% | ▲ +18.23% | $12.82 (+83.38%) |
US Market Status
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