Amwell (NYSE: AMWL) reported Q1 EPS of ($0.16), $0.03 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $57.6 million versus the consensus estimate of $58.75 million.

• Total active providers of approximately 81,000 at the end of the first quarter increased 240% compared to a year ago
• Total visits of 1.6 million in the first quarter increased 120% compared to a year ago
• Total visits since inception surpassed 10 million in the first quarter with 5.9 million added in 2020

“Our first quarter results represent a strong start to the year and demonstrate continued momentum across our business.

As telehealth evolved from a complimentary service to a fundamental enabler of mainstream healthcare, we too have advanced our innovation and investment strategy: our next generation platform Converge is designed to enable healthcare’s most trusted players to carry out digitally empowered, full-spectrum, unified online and in-person care. At its core, we believe Converge offers exceptional usability, reliability, scalability and flexibility. With its modular open architecture and longitudinal capabilities, we believe Converge will simplify innovative collaboration across the ecosystem. We expect Converge to expand our market opportunity and enhance our own efficiencies over time. We also expect it to accelerate innovators’ ability to impact clinical and financial outcomes by creating a faster path to implement new technologies and services in a single integrated platform,” said Dr. Ido Schoenberg, Chairman and Co-CEO.

GUIDANCE:

Amwell sees FY2021 revenue of $260-270 million, versus the consensus of $266.21 million.

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