American Well Corporation Class A (AMWL)

American Well Corp. (AMWL) stock has significantly declined in the past six months, with a 58.75% decrease from November 2024. Q2 2025 earnings showed a 13% YoY revenue increase, with subscription software revenue growing 47% YoY. Q3 2025 earnings reported a quarterly loss of $1.74 per share, beating estimates. The company reiterated its FY2025 revenue guidance and expects subscription revenue to represent nearly 60% of total revenues. The renewal of a contract with the Defense Health Agency (DHA) was a positive development.

The telehealth industry is experiencing rapid growth, and Amwell's shift to a subscription-based SaaS model suggests a move towards more predictable revenue. The company has reported a robust pipeline and strong activity, particularly from health systems and payers. The growing adoption of diverse clinical programs suggests a broader and potentially more stable demand base.

American Well Corporation (AMWL), known as Amwell, is a telehealth company providing digital healthcare solutions via its SaaS platform. Its offerings include the Converge Platform, a cloud-based platform for hybrid care; Amwell Medical Group (AMG), a network of providers for on-demand virtual visits; Carepoint Devices, which transform devices into virtual care stations; and customized Enterprise Solutions. The company is shifting towards a high-margin SaaS subscription model.

Amwell operates across all 50 United States, partnering with approximately 50 health plans covering over 80 million lives, and around 100 of the largest health systems in the U.S., encompassing more than 2,000 hospitals. Amwell also has an international presence through a partnership with Meuhedet in Israel.

Amwell's brand reputation is tied to its strategic pivot and efforts to transform healthcare delivery. Positive aspects include strategic partnerships with large healthcare organizations, innovation through the Converge platform, and service expansion. The company has expanded its offerings to include a wide range of services from urgent and primary care to chronic care management, behavioral health, and specialty care programs. The launch of a Spanish-language platform and a targeted approach to pediatric telehealth also indicate efforts to increase accessibility.

American Well Corporation's ownership includes both institutional and insider capital. Insiders hold approximately 58.59% of the shares, indicating substantial control. Institutional investors hold about 35.89% of the company's shares, with major holders including Senvest Management, LLC, Morgan Stanley, Vanguard Group Inc, Caledonia (Private) Investments Pty Ltd, and BlackRock, Inc.