Fierce Healthcare May 6, 2024
Telehealth company Amwell continues to struggle with falling stock price and both its bottom and top line results in the first quarter missed Wall Street analysts estimates.
The company, formerly American Well, brought in revenue of $59.5 million in Q1, down 7% from $64 million a year ago, and it reported a quarterly loss of $73.4 million. That compares to a loss of $398 million during the same quarter last year when it took a hefty impairment charge as a result of its stock market performance.
American Well shares have lost about 65.7% since the beginning of the year versus the S&P 500’s gain of 5.6%.
Analysts expected revenue of $60.5 million in Q1. Amwell came out with a quarterly...
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