Healthcare DIVE November 2, 2023
But the telehealth vendor’s new contract with the Defense Health Agency could support its path to profitability, management said during a third-quarter earnings call.
Dive Brief:
- Amwell posted a growing net loss in the third quarter as the telehealth firm notched another hefty goodwill impairment charge.
- The Boston-based company’s losses reached $137.1 million — a 94% increase from the same period in 2022 — including $78.9 million in impairment charges linked to sustained decreases in its share price and market capitalization. Revenue declined 11% year over year to $61.9 million.
- But a recent contract with the Department of Defense’s Health Agency that aims to digitize the military healthcare system “fortifies our path to profitability,” expanding Amwell’s reach within...
Today's Sponsors
Today's Sponsor