American Well Corp income statement

In fiscal 2025, American Well Corp reported revenue of $249m, down 2.0% on the year before, operating income of −$105m (a -42.2% margin) and net income of −$95.7m, or −$5.96 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

American Well Corp: income statement, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	114	149	245	253	277	259	254	249	219
Research and development	36	54	84	107	138	106	86	73	55
Selling and marketing	32	48	55	66	82	86	76	43	32
General and administrative	37	54	166	95	146	127	121	88	75
Operating income	−55	−95	−227	−179	−276	−692	−218	−105	−81
Net interest income	—	—	—	—	5	9	12	5	4
Income before tax	−52	−89	−226	−179	−270	−675	−210	−95	−78
Income tax	0	−1	1	−5	0	4	3	0	0
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
Diluted shares (average)	2m	2m	5m	13m	14m	14m	15m	16m	16m
EBITDA	−50	−87	−217	−163	−250	−661	−185	−71	−49

US$ millions unless shown otherwise. Fiscal quarters.

American Well Corp: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	61	71	67	71	56	55	55	52
Research and development	20	19	22	18	19	14	12	10
Selling and marketing	17	15	13	13	9	9	8	6
General and administrative	25	35	23	21	22	22	18	14
Operating income	−47	−43	−30	−20	−29	−25	−17	−10
Net interest income	3	2	2	1	1	1	1	1
Income before tax	−43	−45	−17	−20	−31	−27	−10	−10
Income tax	−0	2	1	−1	1	−1	0	−1
Net income	−43	−43	−19	−20	−32	−25	−11	−10
Diluted EPS	−$2.87	−$2.75	−$1.19	−$1.24	−$2.00	−$1.52	−$0.66	−$0.59
EBITDA	−39	−35	−23	−12	−20	−17	−10	−3

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from American Well Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to American Well Corp.