American Well Q3 revenue beats estimates on subscriptions, AMG

What happened

American Well reported third-quarter revenue above analyst expectations, driven by subscription revenue, Amwell Medical Group visit revenue and stronger member engagement. The company posted a net loss and raised its 2026 revenue and adjusted EBITDA outlook.

Confirmed

Global impact / market context

Higher subscription and medical-group visit revenue show how member activity can translate into sales for this healthcare platform. Raising its 2026 outlook signals improved expectations for future revenue and adjusted EBITDA, a profit measure excluding specified items, although the company still expects an adjusted loss.

Analyst inference

The reported revenue beat is a favorable comparison with analyst expectations, but the article also reports a quarterly net loss. The outlook change offers investors a revised view of future sales and adjusted earnings; it does not establish that the company will meet those targets.

Analyst inference

What to watch

1. Track whether subscription and Amwell Medical Group visit revenue continue contributing to sales in upcoming results, since the company identified both as third-quarter revenue drivers. Analyst inference
2. Compare future reported results with the raised 2026 revenue and adjusted EBITDA outlook; adjusted EBITDA is a measure of operating performance excluding certain costs. Confirmed
3. Watch whether increased member activation and a simpler experience keep supporting results, as the company linked these factors to third-quarter performance. Analyst inference

Evidence

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