American Well Corp
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $249.3M | $254.4M | $259.0M | $277.2M | $252.8M |
| Research and development | $72.9M | $86.1M | $105.8M | $138.5M | $106.6M |
| Operating income | -$105.3M | -$217.5M | -$692.1M | -$275.9M | -$179.1M |
| Pretax income | -$92.8M | -$206.8M | -$672.7M | -$269.7M | -$179.0M |
| Income tax expense | $434,000 | $2.8M | $3.9M | $64,000 | -$5.4M |
| Net income | -$95.7M | -$208.1M | -$675.2M | -$270.4M | -$176.3M |
| Balance Sheet | |||||
| Cash and equivalents | $182.3M | $228.3M | $372.0M | $538.5M | $746.4M |
| Current assets | $246.7M | $317.0M | $449.6M | $626.6M | $827.3M |
| Total assets | $323.8M | $436.0M | $589.7M | $1.2B | $1.4B |
| Current liabilities | $73.2M | $111.3M | $93.8M | $114.1M | $141.6M |
| Total liabilities | $76.0M | $119.7M | $109.5M | $133.7M | $185.0M |
| Stockholders' equity | $235.6M | $304.8M | $464.2M | $1.1B | $1.2B |
| Cash Flow Statement | |||||
| Cash from operations | -$66.0M | -$127.3M | -$148.3M | -$192.3M | -$141.5M |
| Depreciation and amortization | $34.0M | $33.0M | $31.5M | $26.2M | $16.1M |
| Stock-based compensation | $22.0M | $47.5M | $72.2M | $67.7M | $43.8M |
| Capital expenditure | $21,000 | $119,000 | $192,000 | $292,000 | $559,000 |
| Free cash flow | -$66.0M | -$127.5M | -$148.5M | -$192.6M | -$142.1M |
| Share repurchases | $4,000 | $3,000 | $586,000 | $360,000 | $15.0M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 16.7M · Free float 90.7%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.