American Well Corporation (AMWL) Financial Statements (2024 and earlier)

Company Profile

Business Address 75 STATE STREET
BOSTON, MA 02109
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7389 - Business Services, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments538,546746,4161,041,579
Cash and cash equivalents538,546746,416941,616
Short-term investments  99,963
Restricted cash and investments   1,095
Receivables60,96953,42957,349
Inventory, net of allowances, customer advances and progress billings8,7377,5309,128
Inventory8,7377,5309,128
Deferred costs1,3941,6972,134
Other undisclosed current assets16,97018,2242,002
Total current assets:626,616827,2961,113,287
Noncurrent Assets
Operating lease, right-of-use asset13,50916,4226,609
Property, plant and equipment1,0122,2353,836
Long-term investments and receivables 168752
Long-term investments 168752
Intangible assets, net (including goodwill)570,259595,170249,405
Goodwill 435,279442,761193,877
Intangible assets, net (excluding goodwill)134,980152,40955,528
Restricted cash and investments795795 
Deferred costs3,3942,0281,327
Other noncurrent assets1,9721,7221,430
Total noncurrent assets:590,941618,540263,359
TOTAL ASSETS:1,217,5571,445,8361,376,646
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities61,49470,86747,932
Accounts payable7,23612,1565,797
Accrued liabilities54,25858,71142,135
Deferred revenue49,50568,84166,693
Other undisclosed current liabilities3,0571,9186,357
Total current liabilities:114,056141,626120,982
Noncurrent Liabilities
Long-term debt and lease obligation:  14,6941,296
Liabilities, other than long-term debt19,65028,6418,171
Deferred revenue6,2897,0558,107
Other liabilities1,5745,13664
Operating lease, liability11,78714,6941,296
Business combination, contingent consideration, liability  16,450 
Total noncurrent liabilities:19,65043,3359,467
Total liabilities:133,706184,961130,449
Equity
Equity, attributable to parent1,063,8771,239,2581,224,132
Common stock2,7662,6202,357
Treasury stock, value   (37,568)
Additional paid in capital2,160,1082,054,2751,841,405
Accumulated other comprehensive income (loss)(16,969)(6,353)297
Accumulated deficit(1,082,028)(811,284)(582,359)
Equity, attributable to noncontrolling interest19,97421,61722,065
Total equity:1,083,8511,260,8751,246,197
TOTAL LIABILITIES AND EQUITY:1,217,5571,445,8361,376,646

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
Revenues277,190252,789245,265
Revenue from related parties4,54412,04560,839
Cost of revenue
(Cost of Goods and Services Sold)
(160,422)(148,474)(156,790)
Gross profit:116,768104,31588,475
Operating expenses(553,043)(431,935)(472,696)
Other undisclosed operating income160,422148,474156,790
Operating loss:(275,853)(179,146)(227,431)
Other undisclosed income from continuing operations before equity method investments, income taxes  1,632
Loss from continuing operations before equity method investments, income taxes:(275,853)(179,146)(225,799)
Loss from equity method investments  (2,188)
Other undisclosed income from continuing operations before income taxes6,123120 
Loss from continuing operations before income taxes:(269,730)(179,026)(227,987)
Income tax expense (benefit)(64)5,376(639)
Other undisclosed income from continuing operations   232,820
Income (loss) from continuing operations:(269,794)(173,650)4,194
Income (loss) before gain (loss) on sale of properties:(173,650)4,194
Other undisclosed net loss(2,278)(3,132)(232,820)
Net loss:(272,072)(176,782)(228,626)
Net income attributable to noncontrolling interest1,6434484,194
Net loss available to common stockholders, diluted:(270,429)(176,334)(224,432)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
Net loss:(272,072)(176,782)(228,626)
Other undisclosed comprehensive income   
Comprehensive loss:(272,072)(176,782)(228,626)
Comprehensive income, net of tax, attributable to noncontrolling interest1,6434484,194
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(12,259)(7,098)(4,147)
Comprehensive loss, net of tax, attributable to parent:(282,688)(183,432)(228,579)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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