American Well (AMWL) Cost of Revenue (2019 - 2026)

American Well's Cost of Revenue history runs 8 years deep, the most recent figure standing at $7.7 million for Q1 2026.

• In Q1 2026, Cost of Revenue fell 75.47% year-over-year to $7.7 million; the TTM figure through Mar 2026 stood at $148.0 million (down 18.78% YoY), while the FY2025 annual figure was $116.5 million, down 25.06% from the prior year.
• Cost of Revenue was $7.7 million for Q1 2026 at American Well, down from $82.3 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $94.5 million in Q4 2024 to a low of $7.7 million in Q1 2026.
• Historically, Cost of Revenue has averaged $35.5 million across 5 years, with a median of $31.1 million in 2025.
• The sharpest annual moves came in 2024 and 2026: Cost of Revenue jumped 333.6% in 2024, then slumped 75.47% in 2026.
• A 5-year view of Cost of Revenue shows it stood at $45.7 million in 2022, then slumped by 52.25% to $21.8 million in 2023, then jumped by 333.6% to $94.5 million in 2024, then slipped by 12.94% to $82.3 million in 2025, then sank by 90.59% to $7.7 million in 2026.
• The last three Cost of Revenue figures came in at $7.7 million (Q1 2026), $82.3 million (Q4 2025), and $26.8 million (Q3 2025), per Business Quant data.