American Well (AMWL) Cost of Revenue (2019 - 2026)
American Well (AMWL) reported Cost of Revenue of $23.03 million for Q3 2026, down 14.0% from $26.78 million a year earlier and down 5.9% from the prior quarter.
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Analysis
American Well (AMWL) Cost of Revenue (2019 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, American Well's Cost of Revenue came in at $101.41 million, down 19.6% year-over-year; for FY2025, it was $116.47 million, down 25.1% from FY2024.
- Cost of Revenue has a five-year compound annual growth rate of -5.8% (FY2020 to FY2025).
- By year, Cost of Revenue came in at $155.41 million in FY2024 (-5.4%), $164.29 million in FY2023 (+2.4%), $160.42 million in FY2022 (+8.0%) and $148.47 million in FY2021 (-5.3%).
- The Q3 2026 figure ranks as the lowest quarterly Cost of Revenue since Q3 2019.
- Year over year, Cost of Revenue has now declined in each of the last nine quarters, with an average decline of 21.6% over the last eight quarters.
- The high point for year-over-year Cost of Revenue in five years was Q3 2022 (growth of 18.0%); the low point was Q3 2025 (a decline of 30.2%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $24.49 million (Q2 2026), $26.92 million (Q1 2026) and $26.97 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 50.02 Bn | 22.26 Bn | 695.95 Mn | 232.01 Mn |
| 3 | Samsara | 24.75 Bn | 21.52 Bn | 392.58 Mn | 115.86 Mn |
| 4 | Ptc | 22.47 Bn | 21.29 Bn | 490.47 Mn | 109.58 Mn |
| 5 | Toast | 20.15 Bn | 12.79 Bn | 543.00 Mn | 1.44 Bn |
| 6 | Manhattan Associates | 14.87 Bn | 13.93 Bn | 174.30 Mn | 131.89 Mn |
| 7 | Bentley Systems | 14.18 Bn | 13.65 Bn | 349.55 Mn | 71.96 Mn |
| 8 | Trimble | 12.81 Bn | 11.89 Bn | 659.10 Mn | 307.70 Mn |
| 9 | Costar | 12.56 Bn | 7.95 Bn | 741.00 Mn | 211.00 Mn |
| 10 | American Well | 198.75 Mn | -539.52 Mn | 25.96 Mn | 23.03 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 23.03 Mn |
| Jun 30, 2026 | 24.49 Mn |
| Mar 31, 2026 | 26.92 Mn |
| Dec 31, 2025 | 26.97 Mn |
| Sep 30, 2025 | 26.78 Mn |
| Jun 30, 2025 | 31.14 Mn |
| Mar 31, 2025 | 31.57 Mn |
| Dec 31, 2024 | 36.61 Mn |
| Sep 30, 2024 | 38.35 Mn |
| Jun 30, 2024 | 39.29 Mn |
| Mar 31, 2024 | 41.15 Mn |
| Dec 31, 2023 | 46.83 Mn |
| Sep 30, 2023 | 40.46 Mn |
| Jun 30, 2023 | 38.24 Mn |
| Mar 31, 2023 | 38.75 Mn |
| Dec 31, 2022 | 45.65 Mn |
| Sep 30, 2022 | 41.51 Mn |
| Jun 30, 2022 | 36.50 Mn |
| Mar 31, 2022 | 36.77 Mn |
| Dec 31, 2021 | 43.70 Mn |
API Access
American Well Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AMWL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "AMWL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AMWL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();