NYSE : AMWL
American Well Corporation — Financial statements
Healthcare · Health Information Services · United States
Last price 14.98 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 254.79M
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Financial statements
American Well Corporation (AMWL) reported revenue of 218.53M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 218.53M | 249.32M | 254.36M | 259.05M | 277.19M | 252.79M |
| Cost of Revenue | 103.61M | 115.22M | 154.95M | 164.29M | 160.42M | 148.47M |
| Gross Profit | 114.91M | 134.11M | 99.41M | 94.76M | 116.77M | 104.31M |
| Selling, General & Admin | 103.91M | 126.14M | 179.41M | 213.10M | 222.41M | 151.31M |
| Research & Development | 50.91M | 68.08M | 83.67M | 105.83M | 138.49M | 106.59M |
| Operating Expenses | 187.34M | 228.18M | 296.06M | 350.42M | 387.05M | 273.99M |
| Operating Income | -72.43M | -94.07M | -196.64M | -255.66M | -270.28M | -169.68M |
| Interest & Investment Income | 270.00K | 3.80M | 10.76M | 19.43M | 6.50M | |
| Earnings From Equity Investments | -196.00K | -1.70M | -3.11M | -2.59M | -2.28M | -3.13M |
| Currency Exchange Gain (Loss) | -11.00K | -377.00K | 445.00K | |||
| Other Non Operating Income (Expenses) | -304.00K | -325.00K | ||||
| EBT Excluding Unusual Items | -72.66M | -91.96M | -189.00M | -238.83M | -266.43M | -172.69M |
| Merger & Restructuring Charges | -9.03M | -11.20M | -20.89M | -7.29M | ||
| Impairment of Goodwill | -436.48M | |||||
| Gain (Loss) on Sale of Assets | 4.95M | 8.63M | ||||
| Legal Settlements | -5.58M | -2.18M | ||||
| Pretax Income | -76.75M | -94.53M | -209.89M | -675.31M | -272.01M | -182.16M |
| Income Tax Expense | 260.00K | 434.00K | 2.75M | 3.86M | 64.00K | -5.38M |
| Earnings From Continuing Operations | -77.01M | -94.97M | -212.64M | -679.17M | -272.07M | -176.78M |
| Minority Interest in Earnings | -1.11M | -733.00K | 4.50M | 4.01M | 1.64M | 448.00K |
| Net Income | -78.11M | -95.70M | -208.14M | -675.16M | -270.43M | -176.33M |
| Net Income to Common | -78.11M | -95.70M | -208.14M | -675.16M | -270.43M | -176.33M |
| Shares Outstanding (Basic) | 16.49M | 16.05M | 15.00M | 14.21M | 13.71M | 12.70M |
| Shares Outstanding (Diluted) | 16.49M | 16.05M | 15.00M | 14.21M | 13.71M | 12.70M |
| EPS (Basic) | -4.74 | -5.96 | -13.88 | -47.50 | -19.72 | -13.88 |
| EPS (Diluted) | -4.74 | -5.96 | -13.88 | -47.50 | -19.72 | -13.88 |
| Free Cash Flow | -26.41M | -65.97M | -127.46M | -148.53M | -192.62M | -142.10M |
| Free Cash Flow Per Share | -1.60 | -4.11 | -8.50 | -10.45 | -14.05 | -11.19 |
| Gross Margin | 52.58% | 53.79% | 39.08% | 36.58% | 42.13% | 41.27% |
| Operating Margin | -33.15% | -37.73% | -77.31% | -98.69% | -97.51% | -67.12% |
| Profit Margin | -35.75% | -38.38% | -81.83% | -260.63% | -97.56% | -69.75% |
| Free Cash Flow Margin | -12.09% | -26.46% | -50.11% | -57.34% | -69.49% | -56.21% |
| EBITDA | -39.89M | -60.11M | -163.67M | -224.15M | -244.11M | -153.59M |
| EBITDA Margin | -18.25% | -24.11% | -64.34% | -86.53% | -88.07% | -60.76% |
| D&A For EBITDA | 32.54M | 33.96M | 32.97M | 31.51M | 26.17M | 16.09M |
| EBIT | -72.43M | -94.07M | -196.64M | -255.66M | -270.28M | -169.68M |
| EBIT Margin | -33.15% | -37.73% | -77.31% | -98.69% | -97.51% | -67.12% |
| Advertising Expenses | 1.86M | 3.94M | 5.51M | 6.61M | 5.60M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 195.95M | 182.33M | 228.32M | 372.04M | 538.55M | 746.42M |
| Cash & Short-Term Investments | 195.95M | 182.33M | 228.32M | 372.04M | 538.55M | 746.42M |
| Accounts Receivable | 52.61M | 49.69M | 71.89M | 54.15M | 58.37M | 51.38M |
| Receivables | 52.61M | 49.69M | 71.89M | 54.15M | 58.37M | 51.38M |
| Inventory | 964.00K | 1.19M | 2.86M | 6.65M | 8.74M | 7.53M |
| Prepaid Expenses | 11.72M | 10.81M | 11.42M | 14.48M | 19.57M | 20.28M |
| Restricted Cash | 795.00K | |||||
| Other Current Assets | 2.66M | 2.66M | 2.51M | 2.26M | 1.39M | 1.70M |
| Total Current Assets | 264.69M | 246.68M | 316.99M | 449.58M | 626.62M | 827.30M |
| Property, Plant & Equipment | 165.00K | 4.16M | 7.58M | 11.03M | 14.52M | 18.66M |
| Long-Term Investments | 1.50M | 1.18M | 168.00K | |||
| Goodwill | 435.28M | 442.76M | ||||
| Other Intangible Assets | 56.95M | 66.07M | 101.54M | 120.25M | 134.98M | 152.41M |
| Long-Term Accounts Receivable | 781.00K | |||||
| Long-Term Deferred Charges | 3.81M | 4.46M | 5.35M | 4.79M | 3.39M | 2.03M |
| Other Long-Term Assets | 1.57M | 2.42M | 3.01M | 2.88M | 2.77M | 1.74M |
| Total Assets | 327.18M | 323.79M | 435.97M | 589.71M | 1.22B | 1.45B |
| Accounts Payable | 1.70M | 1.65M | 5.01M | 4.86M | 7.24M | 12.16M |
| Accrued Expenses | 60.34M | 45.31M | 49.33M | 26.85M | 54.26M | 43.71M |
| Current Portion of Leases | 2.98M | 3.63M | 3.69M | 3.58M | 3.06M | 1.92M |
| Current Unearned Revenue | 26.25M | 22.62M | 53.23M | 46.37M | 49.51M | 68.84M |
| Other Current Liabilities | 12.14M | 15.00M | ||||
| Total Current Liabilities | 91.26M | 73.21M | 111.26M | 93.80M | 114.06M | 141.63M |
| Long-Term Leases | 892.00K | 4.51M | 8.21M | 11.79M | 14.69M | |
| Long-Term Unearned Revenue | 552.00K | 818.00K | 2.78M | 6.09M | 6.29M | 7.05M |
| Other Long-Term Liabilities | 1.06M | 1.07M | 1.17M | 1.43M | 1.57M | 21.59M |
| Total Liabilities | 92.87M | 76.00M | 119.72M | 109.52M | 133.71M | 184.96M |
| Common Stock | 170.00K | 165.00K | 156.00K | 145.00K | 2.77M | 2.62M |
| Additional Paid-In Capital | 2.31B | 2.31B | 2.29B | 2.24B | 2.16B | 2.05B |
| Retained Earnings | -2.08B | -2.06B | -1.97B | -1.76B | -1.08B | -811.28M |
| Comprehensive Income & Other | -10.29M | -12.10M | -15.84M | -15.65M | -16.97M | -6.35M |
| Total Common Equity | 221.22M | 235.58M | 304.77M | 464.22M | 1.06B | 1.24B |
| Minority Interest | 13.09M | 12.21M | 11.47M | 15.97M | 19.97M | 21.62M |
| Shareholders' Equity | 234.31M | 247.79M | 316.24M | 480.19M | 1.08B | 1.26B |
| Total Liabilities & Equity | 327.18M | 323.79M | 435.97M | 589.71M | 1.22B | 1.45B |
| Total Debt | 2.98M | 4.52M | 8.20M | 11.79M | 14.84M | 16.61M |
| Net Cash (Debt) | 192.97M | 177.80M | 220.12M | 360.25M | 523.70M | 729.80M |
| Net Cash Per Share | 11.70 | 11.08 | 14.67 | 25.35 | 38.19 | 57.45 |
| Filing Date Shares Outstanding | 17.01M | 16.55M | 15.61M | 14.46M | 13.88M | 13.17M |
| Total Common Shares Outstanding | 16.93M | 16.43M | 15.57M | 14.42M | 13.86M | 13.09M |
| Working Capital | 173.43M | 173.47M | 205.73M | 355.79M | 512.56M | 685.67M |
| Book Value Per Share | 13.07 | 14.34 | 19.57 | 32.18 | 76.78 | 94.65 |
| Tangible Book Value | 164.27M | 169.51M | 203.23M | 343.97M | 493.62M | 644.09M |
| Tangible Book Value Per Share | 9.71 | 10.32 | 13.05 | 23.85 | 35.62 | 49.19 |
| Machinery | 6.78M | 7.67M | 7.55M | 7.45M | 13.28M | |
| Leasehold Improvements | 177.00K | 685.00K | 692.00K | 692.00K | 692.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -78.11M | -95.70M | -208.14M | -675.16M | -270.43M | -176.33M |
| Depreciation & Amortization | 32.54M | 33.96M | 32.97M | 31.51M | 26.17M | 16.09M |
| Other Amortization | 3.34M | 3.64M | 2.92M | 2.69M | 2.30M | 2.71M |
| Loss (Gain) From Sale of Assets | -4.95M | -8.63M | ||||
| Asset Writedown & Restructuring Costs | 3.42M | 436.48M | ||||
| Loss (Gain) From Sale of Investments | 1.00M | 1.00M | -10.01M | |||
| Loss (Gain) on Equity Investments | 196.00K | 1.70M | 3.11M | 2.59M | 2.28M | 3.13M |
| Stock-Based Compensation | 13.00M | 22.01M | 47.54M | 72.25M | 67.67M | 43.81M |
| Provision & Write-off of Bad Debts | 5.11M | 2.74M | 7.09M | 1.06M | 806.00K | 714.00K |
| Other Operating Activities | -51.00K | 123.00K | -2.85M | 5.76M | 6.97M | -3.94M |
| Change in Accounts Receivable | -4.22M | 12.22M | -25.01M | 3.25M | -8.14M | -512.00K |
| Change in Inventory | 1.02M | 1.17M | 1.90M | 2.08M | -1.21M | 1.60M |
| Change in Accounts Payable | -2.02M | -3.42M | 159.00K | -2.36M | -4.78M | 5.55M |
| Change in Unearned Revenue | -16.14M | -32.98M | 3.76M | -3.46M | -19.74M | -9.37M |
| Change in Other Net Operating Assets | 19.49M | -3.79M | 9.21M | -15.02M | 5.77M | -24.98M |
| Operating Cash Flow | -26.39M | -65.95M | -127.34M | -148.34M | -192.32M | -141.54M |
| Capital Expenditures | -25.00K | -21.00K | -119.00K | -192.00K | -292.00K | -559.00K |
| Cash Acquisitions | -156.53M | |||||
| Divestitures | 4.95M | 18.32M | ||||
| Sale (Purchase) of Intangibles | -5.63M | -15.10M | -15.06M | -10.15M | ||
| Investment in Securities | -196.00K | -1.20M | -3.43M | -3.92M | -1.18M | 97.45M |
| Investing Cash Flow | -903.00K | 17.10M | -18.65M | -19.17M | -11.63M | -59.63M |
| Issuance of Common Stock | 603.00K | 844.00K | 1.38M | 2.73M | 8.24M | 22.41M |
| Repurchase of Common Stock | -2.00K | -4.00K | -3.00K | -586.00K | -360.00K | -15.04M |
| Other Financing Activities | -11.49M | -1.61M | ||||
| Financing Cash Flow | 601.00K | 840.00K | 1.38M | 2.15M | -3.61M | 5.75M |
| Foreign Exchange Rate Adjustments | 3.56M | 2.02M | 887.00K | -1.14M | -305.00K | -84.00K |
| Net Cash Flow | -23.13M | -45.99M | -143.72M | -166.51M | -207.87M | -195.50M |
| Free Cash Flow | -26.41M | -65.97M | -127.46M | -148.53M | -192.62M | -142.10M |
| Free Cash Flow Margin | -12.09% | -26.46% | -50.11% | -57.34% | -69.49% | -56.21% |
| Free Cash Flow Per Share | -1.60 | -4.11 | -8.50 | -10.45 | -14.05 | -11.19 |
| Levered Free Cash Flow | 3.86M | -12.87M | -48.47M | -78.84M | -117.65M | -28.09M |
| Unlevered Free Cash Flow | 3.86M | -12.87M | -48.47M | -78.84M | -117.65M | -28.09M |
| Cash Income Tax Paid | 362.00K | 1.97M | 4.11M | 5.00M | 1.72M | 1.59M |
| Change in Working Capital | -1.88M | -26.80M | -9.98M | -15.51M | -28.10M | -27.71M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 216.52M | 80.38M | 111.07M | 428.48M | 779.41M | 1.57B |
| Enterprise Value | 23.55M | -102.59M | -111.09M | 40.30M | 234.03M | 819.59M |
| Last Close Price | 12.73 | 4.91 | 7.25 | 29.80 | 56.60 | 120.80 |
| PS Ratio | 0.99 | 0.32 | 0.44 | 1.65 | 2.81 | 6.21 |
| PB Ratio | 0.97 | 0.32 | 0.35 | 0.89 | 0.72 | 1.25 |
| P/TBV Ratio | 1.32 | 0.47 | 0.55 | 1.25 | 1.58 | 2.44 |
| EV/Sales Ratio | 0.11 | 0.16 | 0.84 | 3.24 | ||
| Debt / Equity Ratio | 0.01 | 0.02 | 0.03 | 0.03 | 0.01 | 0.01 |
| Net Debt / Equity Ratio | -0.82 | -0.72 | -0.70 | -0.75 | -0.48 | -0.58 |
| Net Debt / EBITDA Ratio | 4.84 | 2.96 | 1.34 | 1.61 | 2.15 | 4.75 |
| Net Debt / FCF Ratio | 7.31 | 2.69 | 1.73 | 2.42 | 2.72 | 5.14 |
| Asset Turnover | 0.61 | 0.66 | 0.50 | 0.29 | 0.21 | 0.18 |
| Inventory Turnover | 65.83 | 56.97 | 32.59 | 21.35 | 19.72 | 17.83 |
| Quick Ratio | 2.72 | 3.17 | 2.70 | 4.54 | 5.23 | 5.63 |
| Current Ratio | 2.90 | 3.37 | 2.85 | 4.79 | 5.49 | 5.84 |
| Return on Equity (ROE) | -29.12% | -33.67% | -53.40% | -86.85% | -23.21% | -14.10% |
| Return on Assets (ROA) | -12.65% | -15.48% | -23.96% | -17.68% | -12.68% | -7.51% |
| Return on Capital Employed (ROCE) | -30.70% | -37.50% | -60.60% | -51.60% | -24.50% | -13.00% |
| Earnings Yield | -37.20% | -119.06% | -187.40% | -157.57% | -34.70% | -11.23% |
| FCF Yield | -12.20% | -82.08% | -114.76% | -34.67% | -24.71% | -9.05% |
| Buyback Yield / Dilution | -6.26% | -6.99% | -5.54% | -3.65% | -7.94% | -156.52% |