Q: What is American Well (AMWL) Q3 2024 Earnings Call Transcript Summary?

Here are the specific viewpoints from the earnings call:

**Bullish Points:**

1. We continue to execute on the key strategies that support our path to cash flow positives.

2. We have positioned our growth organization to deliver high-quality growth in 2025 with an eye on higher margin revenue.

3. Our solution is resonating in the market and sums up patient and provider ratings across Converge deployments remained well over 90%.

4. We have completed the second milestone for the Defense Health Agency, with Converge scheduled and group visits now live.

5. We are planning for enterprisewide deployment for the DHA by the end of 2024.

6. Our improved 2024 EBITDA guidance reflects our cost-based transformation.

7. We have a strong balance sheet with ample cash and no debt.

8. We documented significant renewals including Baystate Health, AdventHealth, and Children's Medical Center of Dallas.

9. Our Converge platform addresses many pain points for our customers and helps them realize their digital-enabled care aspirations.

10. Adjusted EBITDA for the quarter was negative $31 million versus negative $35 million last quarter and negative $39 million for Q3 in 2023.

**Bearish Points:**

1. Total revenue was $61 million for the quarter, which is flat to the year-ago quarter.

2. Subscription revenue was $26.2 million in Q3, down 5% from last quarter.

3. We completed approximately 1.4 million visits in the third quarter, which is 4.6% lower than a year ago.

4. We've seen some marketwide and client execution-related softness in visits and expect this to continue through this Q4.

5. Our third quarter gross profit margin remained at 37%, flat to Q2.

6. We have seen softness in visits as certain clients face their own executional challenges in the market.

7. We are revising our 2024 revenue guide.

8. Our revised range for AMG visits is between 1.4 million and 1.5 million visits compared to the previous range of 1.6 and 1.7 million visits.

9. The execution risks associated with achieving the 2026 cash flow positive target will likely be twofold: seeing some of that new revenue come together and achieving the type of gross margin levels needed at our new stabilized cost base.

10. The final decision on the exact timing scope of the DHA contract rollout is always with the customer and there could be some changes.

For more information about American Well Corp (AMWL)'s earnings call, you can read the relevant news: American Well (AMWL) Q3 2024 Earnings Call Transcript