Healthcare DIVE August 1, 2024
During a second-quarter earnings call Wednesday, CFO Robert Shepardson said reducing headcount was “one of the big drivers” for improving the guidance.
Dive Brief:
- Amwell boosted its adjusted earnings outlook for 2024 as the telehealth vendor works to cut costs and rein in expenses.
- The company now expects adjusted earnings before interest, taxes, depreciation and amortization to be a loss between $150 million and $145 million. It previously estimated adjusted EBITDA losses between $160 million and $155 million.
- Amwell also narrowed its net loss in the second quarter. The virtual care vendor reported a loss of $49.9 million, compared with $92.5 million during the same period last year.
Dive Insight:
Amwell’s stock price has collapsed since it...
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