Amwell (NYSE: AMWL) reported Q3 EPS of ($0.92), $0.64 worse than the analyst estimate of ($0.28). Revenue for the quarter came in at $62.55 million versus the consensus estimate of $55.77 million.

• Total active providers of approximately 62,000 at the end of the third quarter increased 930% compared to a year ago
• Total visits of 1,414,000 in the third quarter increased 450% compared to a year ago
• Revenue of $62.6 million in the third quarter increased 80% compared to a year ago
• Announced new products: Amwell Now, Touchpoint Tablet software, and C500 telemedicine cart
• Provides initial 2020 guidance

“We are pleased to announce that third quarter results reflect our business’ momentum and ongoing role in responding to the continued, widespread demand for telehealth infrastructure. Our platform’s unique ability to simplify high-quality, virtual care delivery that supports existing patient-physician relationships differentiates us in the growing market,” said Ido Schoenberg, Chairman and Co-CEO.

Dr. Schoenberg continued, “During the quarter, we expanded the number of entry points to our ecosystem connectivity platform in order to simplify access to telehealth and enhance our partners’ user experience. We now look to end the year with accelerated momentum as our story evolves in the public markets.”

GUIDANCE:

Amwell sees FY2020 revenue of $235-239 million, versus the consensus of $231.74 million.

For 2020, the company expects:

• Revenue between $235 and $239 million
• Adjusted EBITDA between ($110) million and ($105) million

For earnings history and earnings-related data on Amwell (AMWL) click here.