American Well Corporation (AMWL) Financial Statements (2025 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)

9/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments372,038538,546746,4161,041,579
Cash and cash equivalents372,038538,546746,416941,616
Short-term investments    99,963
Restricted cash and investments    1,095
Receivables54,14660,96953,42957,349
Inventory, net of allowances, customer advances and progress billings6,6528,7377,5309,128
Inventory6,6528,7377,5309,128
Deferred costs2,2621,3941,6972,134
Other undisclosed current assets14,48416,97018,2242,002
Total current assets:449,582626,616827,2961,113,287
Noncurrent Assets
Operating lease, right-of-use asset10,45313,50916,4226,609
Property, plant and equipment5721,0122,2353,836
Long-term investments and receivables1,180 168752
Long-term investments1,180 168752
Intangible assets, net (including goodwill)120,248570,259595,170249,405
Goodwill  435,279442,761193,877
Intangible assets, net (excluding goodwill)120,248134,980152,40955,528
Restricted cash and investments795795795 
Deferred costs4,7923,3942,0281,327
Other noncurrent assets2,0831,9721,7221,430
Total noncurrent assets:140,123590,941618,540263,359
TOTAL ASSETS:589,7051,217,5571,445,8361,376,646
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities43,85261,49470,86747,932
Accounts payable4,8647,23612,1565,797
Accrued liabilities38,98854,25858,71142,135
Deferred revenue46,36549,50568,84166,693
Other undisclosed current liabilities3,5803,0571,9186,357
Total current liabilities:93,797114,056141,626120,982
Noncurrent Liabilities
Long-term debt and lease obligation:   14,6941,296
Liabilities, other than long-term debt15,72219,65028,6418,171
Deferred revenue6,0916,2897,0558,107
Other liabilities1,4251,5745,13664
Operating lease, liability8,20611,78714,6941,296
Business combination, contingent consideration, liability   16,450 
Total noncurrent liabilities:15,72219,65043,3359,467
Total liabilities:109,519133,706184,961130,449
Equity
Equity, attributable to parent464,2191,063,8771,239,2581,224,132
Common stock2,8792,7662,6202,357
Treasury stock, value    (37,568)
Additional paid in capital2,234,7682,160,1082,054,2751,841,405
Accumulated other comprehensive income (loss)(15,650)(16,969)(6,353)297
Accumulated deficit(1,757,778)(1,082,028)(811,284)(582,359)
Equity, attributable to noncontrolling interest15,96719,97421,61722,065
Total equity:480,1861,083,8511,260,8751,246,197
TOTAL LIABILITIES AND EQUITY:589,7051,217,5571,445,8361,376,646

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

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues259,047277,190252,789245,265
Revenue from related parties4,54412,04560,839
Cost of revenue
(Cost of Goods and Services Sold)
(164,287)(160,422)(148,474)(156,790)
Gross profit:94,760116,768104,31588,475
Operating expenses(951,190)(553,043)(431,935)(472,696)
Other undisclosed operating income164,287160,422148,474156,790
Operating loss:(692,143)(275,853)(179,146)(227,431)
Other undisclosed income from continuing operations before equity method investments, income taxes19,422  1,632
Loss from continuing operations before equity method investments, income taxes:(672,721)(275,853)(179,146)(225,799)
Loss from equity method investments(2,590)  (2,188)
Other undisclosed income from continuing operations before income taxes  6,123120 
Loss from continuing operations before income taxes:(675,311)(269,730)(179,026)(227,987)
Income tax expense (benefit)(3,860)(64)5,376(639)
Other undisclosed income from continuing operations    232,820
Income (loss) from continuing operations:(679,171)(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:(679,171)(272,072)(176,782)(228,626)
Net income attributable to noncontrolling interest4,0071,6434484,194
Net loss available to common stockholders, diluted:(675,164)(270,429)(176,334)(224,432)

Comprehensive Income ($ in thousands)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net loss:(679,171)(272,072)(176,782)(228,626)
Other undisclosed comprehensive income (loss)1,319   
Comprehensive loss:(677,852)(272,072)(176,782)(228,626)
Comprehensive income, net of tax, attributable to noncontrolling interest4,0071,6434484,194
Other undisclosed comprehensive loss, net of tax, attributable to parent  (12,259)(7,098)(4,147)
Comprehensive loss, net of tax, attributable to parent:(673,845)(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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