American Well Corp (AMWL) Financial Statements
Industry: Business Services (Other) (Services)
In fiscal 2025, American Well reported revenue of $249.3M, down 2.0% from $254.4M the year before. Net income was -$95.7M (a -38.4% net margin), or -$5.96 per diluted share. Operating margin was -42.2%. Operating activities generated -$66.0M of cash, leaving -$66.0M of free cash flow. At fiscal year end, American Well held $323.8M in total assets against $76.0M in total liabilities, including $182.3M of cash and equivalents.
Open the full interactive American Well financials → Quarterly statements, key ratios, valuation history and price charts.
American Well Key Stats
| Share Price | $12.17 |
|---|---|
| Market Cap | $204.0M |
| Revenue YoY Growth | -2.0% |
| 52-Week Range | $3.78 – $13.87 |
| Shares Outstanding | 16.8 million (basic, 2026 Q2) |
American Well Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $245.3M | $252.8M | $277.2M | $259.0M | $254.4M | $249.3M |
| Operating Income | -$227.4M | -$179.1M | -$275.9M | -$692.1M | -$217.5M | -$105.3M |
| Pre-Tax Income | -$225.8M | -$179.0M | -$269.7M | -$672.7M | -$206.8M | -$94.5M |
| Income Tax | $639,000 | -$5.4M | $64,000 | $3.9M | $2.8M | $434,000 |
| Net Income | -$224.4M | -$176.3M | -$270.4M | -$675.2M | -$208.1M | -$95.7M |
| Diluted EPS | -$45.40 | -$13.80 | -$19.80 | -$47.60 | -$13.88 | -$5.96 |
American Well Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $56.3M | $55.3M | $54.9M | $52.0M |
| Net Income | -$32.4M | -$24.9M | -$10.9M | -$9.9M |
| Diluted EPS | -$2.00 | -$1.55 | -$0.66 | -$0.59 |
American Well Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $941.6M | $746.4M | $538.5M | $372.0M | $228.3M | $182.3M |
| Current Assets | $1.11B | $827.3M | $626.6M | $449.6M | $317.0M | $246.7M |
| Total Assets | $1.38B | $1.45B | $1.22B | $589.7M | $436.0M | $323.8M |
| Current Liabilities | $121.0M | $141.6M | $114.1M | $93.8M | $111.3M | $73.2M |
| Total Liabilities | $130.4M | $185.0M | $133.7M | $109.5M | $119.7M | $76.0M |
| Shareholders' Equity | $1.22B | $1.24B | $1.06B | $464.2M | $304.8M | $235.6M |
American Well Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$112.5M | -$141.5M | -$192.3M | -$148.3M | -$127.3M | -$66.0M |
| Cash From Investing | -$66.8M | -$59.6M | -$11.6M | -$19.2M | -$18.7M | $17.1M |
| Cash From Financing | $983.1M | $5.8M | -$3.6M | $2.1M | $1.4M | $840,000 |
| Free Cash Flow | -$115.8M | -$142.1M | -$192.6M | -$148.5M | -$127.5M | -$66.0M |
Figures from American Well's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full American Well financials page for every line item.
American Well Company Profile
| Ticker | AMWL |
|---|---|
| Exchange | NYSE |
| Industry | Business Services (Other) (Services) |
| Headquarters | Boston, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer, smaller reporting company |
| SEC CIK | 0001393584 |
Frequently Asked Questions
What was American Well's revenue in fiscal 2025?
American Well (AMWL) reported revenue of $249.3M for fiscal 2025.
What is American Well's annual revenue history?
American Well's annual revenue by fiscal year: 2020: $245.3M; 2021: $252.8M; 2022: $277.2M; 2023: $259.0M; 2024: $254.4M; 2025: $249.3M.
What was American Well's net income in fiscal 2025?
American Well reported net income of -$95.7M for fiscal 2025.
What was American Well's earnings per share (EPS) in fiscal 2025?
American Well's diluted EPS was -$5.96 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did American Well generate in fiscal 2025?
American Well generated -$66.0M of free cash flow in fiscal 2025.
What was American Well's revenue last quarter?
In its most recent reported quarter (2026 Q2), American Well reported revenue of $52.0M.
How many shares of American Well are outstanding?
American Well reported a weighted average of 16.8 million basic shares outstanding in 2026 Q2.
What is American Well's market cap?
Based on its latest closing price, American Well (AMWL) has a market capitalization of about $204.0M.
When does American Well's fiscal year end?
American Well's fiscal year end, as registered with the SEC, is December 31.
Where is American Well headquartered?
American Well lists its business address in Boston, Massachusetts in its SEC filings.