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American Well Corp (AMWL) stock

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NYSE: AMWL NYSE Health Care Technology Next results ~November 3, 2026

D Fundamentals grade

American Well Corp is a US-listed company in the health care technology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$19

Revenue-to-maturity cash-flow model

Base case. Range ~$19–$22 across our lower- and higher-growth cases (0%–5% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

American Well Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 6 selling1 purchase and 29 sales by directors and officers, last 12 monthsInsider trades
  • Funds26 adding, 23 cuttingOf 12 active managers that changed their stake, 9 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter American Well files

Where American Well stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $219m, down 19.0% on a year earlier, a steeper fall than the 9.3% decline a quarter earlier. That puts it 15 of 15 for growth among the health care technology companies we cover. Free-cash-flow margin rose to -12.1% from -28.0% a year earlier. Operating margin widened to -37.3% from -52.2%. The diluted share count is up 6.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $18.79 a share, against a share price of $14.80.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

American Well Corp's trailing-twelve-month revenue fell 19.0% year on year, with a free-cash-flow margin of -12.1%. Where it lags: revenue growth of -19.0% ranks 22 of 23 health care technology companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -19.0% (-9.7pp vs the prior quarter), the 4th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 15.0 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.2bn.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 19.0% over the last 12 months.
  • Growth slowing. The growth rate is 9.7 points lower than a quarter earlier.
  • Loss-making. Operating margin is -37.3%: costs exceed revenue.
  • Burning cash. Free cash flow was -12.1% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 6.2% in a year.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
-$0.51 against an average estimate of -$0.60: beat by 14.3%
Revenue
$52m, down 26.6% on a year earlier
Share reaction
+21.0% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
revenue $200m to $205m (2026); AMG visits 1.32 to 1.37 (2026)
Next report
November 3, 2026; average EPS estimate -$0.66

American Well's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.6%
  • 1 week-7.5%
  • 1 month+1.0%
  • This year+155.0%
  • 1 year+139.8%
  • 5 years-93.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$219M
Operating margin
-37.3%
Net margin
-35.7%
EPS (TTM, diluted)
$-4.74

Growth

Revenue growth
−19.0%
Change in growth rate
−9.7 pts
Share count change
+6.2%

Cash

Free cash flow (TTM)
-$26.4M
FCF margin
-12.1%
Stock pay % of revenue
5.9%

Earnings

Last results
August 4, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

American Well Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value American Well Corp as an operating company, with every model that fits that kind of business. Cost of equity 11.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.36 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$19 ~$19–$22 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$5.2 ~$7.3–$55 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$16 ~$5.2–$19 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare American Well Corp with Health Care Technology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$506.60$120.80$56.60$29.80$7.25$4.91$12.52
Market value$2.5bn$1.5bn$776m$424m$109m$79m$207m
+ Net debt (− = net cash)−$942m−$746m−$539m−$372m−$228m−$182m−$196m
Enterprise value$1.6bn$788m$238m$51m−$120m−$104m$11m
Multiples
Price / sales 10.2x6.1x2.8x1.6x0.4x0.3x0.9x
Price / earnings ———————
Price / free cash flow ———————
EV / EBITDA ———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

12 /100

Weak moat

How hard American Well's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -28.0% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median -81.1%; its worst year was -228.4%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 6 years, at a median -54.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (17 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $47m and EPS of −$0.66 (range −$0.66 to −$0.66) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$2.56 +20% $203m −19%
Next −$1.58 +38% $211m +4%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −4.5% on 90 days ago. In the last 30 days, 1 analyst raised American Well Corp's forecast and 0 cut it.

Consensus EPS forecast American Well Corp, last 90 days
−$3.00 −$2.00 −$1.00 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$2.68 Current fiscal year, 60 days ago: −$2.68 Current fiscal year, 30 days ago: −$2.68 Current fiscal year, 7 days ago: −$2.68 Current fiscal year, Now: −$2.56 −$2.56 Next fiscal year, 90 days ago: −$1.68 Next fiscal year, 60 days ago: −$1.68 Next fiscal year, 30 days ago: −$1.68 Next fiscal year, 7 days ago: −$1.68 Next fiscal year, Now: −$1.58 −$1.58

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$2.68−$1.68
60 days ago −$2.68−$1.68
30 days ago −$2.68−$1.68
7 days ago −$2.68−$1.68
Now −$2.56−$1.58

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.60 −$0.51 +14.3%
Mar 2026 −$0.77 −$0.67 +12.9%
Dec 2025 −$1.59 −$1.13 +29.5%
Sept 2025 −$1.46 −$1.55 −6.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • Revenue 2026 $200m to $205m GAAP Raised
    “Revenue in the range of $200 million to $205 million increased from $195 million to $205 million” source
  • Q3 revenue Q3 2026 $46m to $48m GAAP New
    “Q3 revenue in the range of $46 million to $48 million” source
  • AMG visits · Amwell Medical Group (AMG) 2026 1.32m to 1.37m Maintained
    “AMG visits between 1.32 million and 1.37 million” source
  • Adjusted EBITDA 2026 $-9m to $-7m Non-GAAP Raised
    “Adjusted EBITDA in the range between ($9) million to ($7) million increased from ($16) million to ($12) million.” source
  • Q3 adjusted EBITDA Q3 2026 $-5m to $-3m Non-GAAP New
    “Q3 adjusted EBITDA expected to in the range of ($5) million to ($3) million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

7 analysts, Oct 2026
Buy114%
Hold686%
Sell00%

Monthly trend

  1. Oct 2026167
  2. Sep 2026167
  3. Aug 2026167

Counts of recommendations published by analysts covering American Well Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.4%
of tradable shares
Days to cover
2.23
at average volume
Short interest, 1 month
+29%
to October 15, 2026
Held by institutions
48%
of shares
Held by insiders
4.6%
of shares
Employees
562
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +139.8%

$5.22 on October 31, 2025 to $12.52

ThenNowEffect
Revenue (last 12 months) $270m $219m −19.0%
P/S multiple 0.3x 0.9x +214.6%
Share count 16m 16m −5.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −55.9%

$28.40 on November 3, 2023 to $12.52

ThenNowEffect
Revenue (last 12 months) $275m $219m −20.5%
P/S multiple 1.4x 0.9x −34.3%
Share count 14m 16m −15.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AMWL−76%−53%−47%−76%−32%+155%
Industry peers (median)−9%−67%−16%−8%−27%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AMWL17%33%42%42%25%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AMWL−87%−58%−77%−83%−70%−21%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 17, 2020: 100% from January 27, 2021 to November 20, 2025. Getting back needed a 22546% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.78 – $14.98
From 52-week high
−16.4%
vs 50-day average
−3.2%
vs 200-day average
+39.7%
Volatility (1 year)
73%
Beta vs S&P 500
1.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
10 up, 2 down
typical move ±13.5%
After a week
8 up, 4 down
typical move ±10.4%
After a month
4 up, 8 down
typical move ±16.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +21.0% +1.6% +20.7% +19.2%
May 5, 2026 +11.4% +2.2% +22.9% +36.8%
February 12, 2026 +25.0% −1.5% +26.2% +30.3%
November 4, 2025 −10.2% −0.8% −23.4% −19.1%
August 5, 2025 +11.6% +0.3% +0.3% −4.5%
May 1, 2025 +1.1% +2.2% −5.0% −10.2%
February 12, 2025 +2.3% +0.7% +5.1% −30.6%
October 30, 2024 −5.0% −2.3% −7.6% −0.7%
July 31, 2024 +33.8% +0.2% −5.4% −2.6%
May 1, 2024 +2.0% +0.6% +1.6% −16.3%
February 14, 2024 +23.6% +1.6% +1.9% −16.0%
November 1, 2023 +14.5% +3.0% +5.1% +11.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

American Well Corp in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) American Well Corp
$200M $220M $240M $260M $280M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $267.6M Revenue (TTM), FY23 Q4: $259M Revenue (TTM), FY24 Q1: $254.6M Revenue (TTM), FY24 Q2: $254.9M Revenue (TTM), FY24 Q3: $254M Revenue (TTM), FY24 Q4: $254.4M Revenue (TTM), FY25 Q1: $261.7M Revenue (TTM), FY25 Q2: $269.8M Revenue (TTM), FY25 Q3: $265M Revenue (TTM), FY25 Q4: $249.3M Revenue (TTM), FY26 Q1: $237.4M Revenue (TTM), FY26 Q2: $218.5M $218.5M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $267.6M
FY23 Q4 $259M
FY24 Q1 $254.6M
FY24 Q2 $254.9M
FY24 Q3 $254M
FY24 Q4 $254.4M
FY25 Q1 $261.7M
FY25 Q2 $269.8M
FY25 Q3 $265M
FY25 Q4 $249.3M
FY26 Q1 $237.4M
FY26 Q2 $218.5M
Revenue growth, TTM YoY American Well Corp
-20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -1.1% Revenue growth, TTM YoY, FY23 Q4: -6.5% Revenue growth, TTM YoY, FY24 Q1: -8.1% Revenue growth, TTM YoY, FY24 Q2: -7.3% Revenue growth, TTM YoY, FY24 Q3: -5.1% Revenue growth, TTM YoY, FY24 Q4: -1.8% Revenue growth, TTM YoY, FY25 Q1: 2.8% Revenue growth, TTM YoY, FY25 Q2: 5.8% Revenue growth, TTM YoY, FY25 Q3: 4.3% Revenue growth, TTM YoY, FY25 Q4: -2.0% Revenue growth, TTM YoY, FY26 Q1: -9.3% Revenue growth, TTM YoY, FY26 Q2: -19.0% -19.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -1.1%
FY23 Q4 -6.5%
FY24 Q1 -8.1%
FY24 Q2 -7.3%
FY24 Q3 -5.1%
FY24 Q4 -1.8%
FY25 Q1 2.8%
FY25 Q2 5.8%
FY25 Q3 4.3%
FY25 Q4 -2.0%
FY26 Q1 -9.3%
FY26 Q2 -19.0%
Operating margin (TTM) American Well Corp
-300% -200% -100% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -261.6% Operating margin (TTM), FY23 Q4: -267.2% Operating margin (TTM), FY24 Q1: -145.3% Operating margin (TTM), FY24 Q2: -128.6% Operating margin (TTM), FY24 Q3: -91.2% Operating margin (TTM), FY24 Q4: -85.5% Operating margin (TTM), FY25 Q1: -66.1% Operating margin (TTM), FY25 Q2: -52.2% Operating margin (TTM), FY25 Q3: -46.4% Operating margin (TTM), FY25 Q4: -42.2% Operating margin (TTM), FY26 Q1: -38.9% Operating margin (TTM), FY26 Q2: -37.3% -37.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -261.6%
FY23 Q4 -267.2%
FY24 Q1 -145.3%
FY24 Q2 -128.6%
FY24 Q3 -91.2%
FY24 Q4 -85.5%
FY25 Q1 -66.1%
FY25 Q2 -52.2%
FY25 Q3 -46.4%
FY25 Q4 -42.2%
FY26 Q1 -38.9%
FY26 Q2 -37.3%
FCF margin (TTM) American Well Corp
-80% -60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -53.5% FCF margin (TTM), FY23 Q4: -57.3% FCF margin (TTM), FY24 Q1: -70.4% FCF margin (TTM), FY24 Q2: -63.3% FCF margin (TTM), FY24 Q3: -61.3% FCF margin (TTM), FY24 Q4: -50.1% FCF margin (TTM), FY25 Q1: -35.4% FCF margin (TTM), FY25 Q2: -28.0% FCF margin (TTM), FY25 Q3: -23.4% FCF margin (TTM), FY25 Q4: -26.5% FCF margin (TTM), FY26 Q1: -17.6% FCF margin (TTM), FY26 Q2: -12.1% -12.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -53.5%
FY23 Q4 -57.3%
FY24 Q1 -70.4%
FY24 Q2 -63.3%
FY24 Q3 -61.3%
FY24 Q4 -50.1%
FY25 Q1 -35.4%
FY25 Q2 -28.0%
FY25 Q3 -23.4%
FY25 Q4 -26.5%
FY26 Q1 -17.6%
FY26 Q2 -12.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 114 149 245 253 277 259 254 249 219
EBITDA −50 −87 −217 −163 −250 −661 −185 −71 −49
Operating income −55 −95 −227 −179 −276 −692 −218 −105 −81
Net income −53 −87 −224 −176 −270 −675 −208 −96 −78
Diluted EPS −$26.00 −$42.40 −$45.40 −$13.80 −$19.72 −$47.50 −$13.88 −$5.96 −$4.74
Growth (year on year)
Revenue — +30.6% +64.8% +3.1% +9.7% −6.5% −1.8% −2.0% −19.0%
Margins
EBITDA margin −43.7% −58.4% −88.6% −64.5% −90.1% −255.0% −72.6% −28.6% −22.4%
Operating margin −48.4% −63.6% −92.7% −70.9% −99.5% −267.2% −85.5% −42.2% −37.3%
Net margin −46.2% −58.6% −91.5% −69.8% −97.6% −260.6% −81.8% −38.4% −35.7%
Free-cash-flow margin −66.6% −55.9% −47.2% −56.2% −69.5% −57.3% −50.1% −26.5% −12.1%
Cash flow
Cash from operations −74 −82 −112 −142 −192 −148 −127 −66 −26
Capital spending 2 1 3 1 0 0 0 0 0
Free cash flow −76 −83 −116 −142 −193 −149 −127 −66 −26
Stock-based pay 8 12 118 44 68 72 48 22 13
Free cash flow after stock pay −84 −95 −234 −186 −260 −221 −175 −88 −39
Balance sheet
Cash 48 138 942 746 539 372 228 182 196
Total debt 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −48 −138 −942 −746 −539 −372 −228 −182 −196
Diluted shares 2m 2m 5m 13m 14m 14m 15m 16m 16m
Returned to shareholders
Buybacks — 0 38 15 0 1 0 0 0
Total returned — 0 38 15 0 1 0 0 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $327m
Short-term assets $265mLonger-term assets $62m
What it owes, and who funded it · $314m
Short-term liabilities $91mLonger-term liabilities $2mShareholders' equity $221m
  • Short-term assets cover short-term liabilities $265m of assets due within a year against $91m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $265m short-term assets against $2m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From American Well Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$2,000
Returned to shareholders
-0%
of free cash flow
Buybacks, last 3 fiscal years
$593,000
Diluted share count
+6.2%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
R&D spending
25.3%
of revenue
Days sales outstanding
88 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care technology
Last 12 months unless stated AMWL DH HCAT HSTM CCLD WGS Median
Revenue, last 12 months $219m $233m $292m $321m $129m $454m $292m
Revenue growth, last 12 months −19.0% −5.0% −7.5% 8.8% 15.1% 25.4% 8.8%
Revenue growth, 3-year average −7.4% −0.8% 0.9% 5.4% 0.8% 24.3% 0.8%
Revenue growth, latest quarter −26.6% −9.1% −12.7% 12.5% 16.4% 11.4% 7.4%
Gross margin — 75.2% — 59.1% — 69.4% 58.6%
Operating margin −37.3% −104.6% −84.4% 8.0% 7.1% −20.3% −12.5%
Operating margin, 3-year average −72.7% −194.0% −48.1% 7.3% −7.0% −19.0% −18.8%
Net margin −35.7% −72.3% −90.6% 6.6% 6.2% −23.4% −12.5%
Cash from operations / revenue −12.1% 17.8% 9.7% 22.4% 20.8% −10.7% 9.7%
Free-cash-flow margin −12.1% 12.3% 9.2% 21.7% 17.7% −16.7% 9.2%
Free-cash-flow margin, 3-year average −34.5% 15.3% 1.7% 21.4% 16.7% −18.7% 8.2%
Stock pay / revenue 5.9% 10.9% 6.0% 2.7% 0.3% 7.9% 9.5%
Change in share count 6.2% −7.4% 10.3% −3.3% 73.1% 2.6% 2.9%

Median of all 23 companies we cover in health care technology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 health care technology companies
Measure Company Peer median Rank
Revenue growth Growth -19.0% 8.8% 22 of 23
Change in growth rate Growth -9.7pp -0.3pp 20 of 23
Operating margin Profitability -37.3% -6.6% 15 of 22
Net margin Profitability -35.7% -12.5% 14 of 23
Free-cash-flow margin Cash generation -12.1% 10.6% 15 of 22
Stock pay as % of revenue Cash generation 5.9% 9.7% 8 of 22
Change in share count Balance sheet 6.2% 2.6% 13 of 19
Days sales outstanding Balance sheet 88 days 58 days 16 of 21

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Platform Subscription $132M 53.1% ▲ 14.6%
Visits $94.3M 37.8% ▼ 19.0%
Others $22.6M 9.1% ▲ 1.2%

From American Well Corp's 10-K filed February 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$65.7M
Institutions reporting
55
Shares held vs prior quarter
▲ 14.0%
Positions opened / closed
9 / 9

Top buyers and sellers, Q2 2026: 26 institutions bought and 23 sold ; the biggest buyer was Senvest Management, LLC (+192K shares) and the biggest seller Monaco Asset Management Sam (−69K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Senvest Management, LLC $12.1M 1.3M 18.5% ▲ 16.9%
Morgan Stanley $11.7M 1.3M 17.8% ▲ 10.5%
Cable Car Capital, LP $9.1M 1.0M 13.9% 0.0%
Vanguard Capital Management LLC $5.6M 611K 8.5% ▲ 7.8%
Acadian Asset Management LLC $4.5M 494K 6.9% ▲ 21.6%
Blackrock, Inc. $3.9M 428K 5.9% ▲ 9.2%
Renaissance Technologies LLC $2.4M 263K 3.7% ▲ 35.0%
Russell Investments Group, Ltd. $1.7M 182K 2.5% New
Geode Capital Management, LLC $1.4M 159K 2.2% ▼ 15.8%
Two Sigma Investments, LP $1.3M 145K 2.0% ▲ 9.1%
Jane Street Group, LLC $1.3M 141K 2.0% ▲ 161.1%
Rock Point Advisors, LLC $1.2M 134K 1.9% ▼ 1.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not American Well Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $4,938 1 trade by 1 insider, last 12 months Insider sales History → $1.1M 29 trades by 6 insiders · 9% under pre-set plans
Net ▼ $1M net selling
Insider Date Trade Shares Price Value
Mcneice Paul Francis Chief Accounting Officer October 1, 2026 Sell 653 $13.00 $8,489
Zamansky Dmitry Chief Product & Tech. Officer October 1, 2026 Sell 8,442 $13.00 $109,746
Hirschhorn Mark Chief Financial Officer October 1, 2026 Sell 4,282 $13.00 $55,666
Gotlib Phyllis President, International October 1, 2026 Sell 6,677 $13.00 $86,801
Mcneice Paul Francis Chief Accounting Officer September 1, 2026 Sell 112 $11.80 $1,322
Gotlib Phyllis President, International September 1, 2026 Sell 3,573 $11.80 $42,161
Hirschhorn Mark Chief Financial Officer September 1, 2026 Sell 10,751 $11.80 $126,862
Gotlib Phyllis President, International July 1, 2026 Sell 6,677 $9.33 $62,296
Zamansky Dmitry Chief Product & Tech. Officer July 1, 2026 Sell 8,460 $9.33 $78,932
Hirschhorn Mark Chief Financial Officer July 1, 2026 Sell 4,299 $9.33 $40,110
Mcneice Paul Francis Chief Accounting Officer July 1, 2026 Sell 653 $9.33 $6,092
Schlegel Stephen J. Director June 11, 2026 Sell pre-set plan 9,750 $8.76 $85,410

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • February 12, 2026
  • November 4, 2025
  • August 5, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on American Well Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

American Well Corp in brief

What does American Well Corp do?
American Well Corp is a US-listed company in the health care technology industry. Its financial year ends in December.
What is American Well Corp's stock ticker?
American Well Corp trades under the ticker AMWL on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is American Well Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, American Well Corp reported revenue of $219M, 19.0% lower than a year earlier, according to its SEC filings.
What is American Well Corp's free cash flow?
American Well Corp's free-cash-flow margin is -12.1% of revenue over the trailing twelve months, ranking 15 of the 22 health care technology companies we cover.
Who are American Well Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Senvest Management, LLC, Morgan Stanley and Cable Car Capital, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is American Well Corp buying back stock, and does it pay a dividend?
American Well Corp spent $2,000 on share repurchases over the trailing twelve months, and its diluted share count still rose 6.2% over the year.
What is American Well Corp's market cap?
On November 2, 2026, American Well Corp's market capitalisation was about $207M and net debt of -$196M. Market figures come from third-party market data and may be delayed.
Who are American Well Corp's competitors?
In our Health Care Technology peer group, the companies closest to American Well Corp are Definitive Healthcare Corp., Health Catalyst, Inc., Healthstream Inc, Carecloud, Inc. and Genedx Holdings Corp. The side-by-side comparison below sets their revenue, margins and growth against American Well Corp's.
Are insiders buying or selling American Well Corp stock?
Over the last 12 months, American Well Corp's directors and officers reported 1 open-market purchases and 29 sales on Form 4. The insider trading page charts every trade.
When is American Well Corp's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — American Well Corp announces its own schedule.