American Well (AMWL) Gross Margin (2019 - 2026)
American Well's quarterly Gross Margin came in at 85.89% in Q1 2026, up 3313.0% year-on-year from 2.52% in Q1 2025, and up 276.02% quarter-over-quarter from 48.79% in Q4 2025.
American Well has reported Gross Margin for 8 years, with the latest figure at 85.89% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 3313.0% year-over-year to 85.89%; the trailing twelve-month figure through Mar 2026 stood at 37.67% (up 728.0% YoY), and the FY2025 full-year result was 53.29%, up 1439.0% from the prior year.
- Gross Margin for Q1 2026 stood at 85.89%, up from 48.79% in the prior quarter.
- The five-year high for Gross Margin was 85.89% in Q1 2026, with the low at 48.79% in Q4 2025.
- Average Gross Margin over 5 years is 45.1%, with a median of 52.76% recorded in 2025.
- Year-over-year, Gross Margin plunged 10228 bps in 2024 and surged 3313 bps in 2026.
- Tracing AMWL's Gross Margin over 5 years: stood at 42.38% in 2022, then soared by 63 bps to 69.15% in 2023, then sank by 148 bps to 33.13% in 2024, then plunged by 47 bps to 48.79% in 2025, then soared by 276 bps to 85.89% in 2026.
- The last three Gross Margin figures came in at 85.89% (Q1 2026), 48.79% (Q4 2025), and 52.42% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 30.85 Bn | 24.28 Bn | 622.47 Mn | 74.46% |
| 2 | BrightSpring Health Services | 12.29 Bn | 11.41 Bn | 482.22 Mn | 13.34% |
| 3 | Healthequity | 7.80 Bn | 7.48 Bn | 256.31 Mn | 72.27% |
| 4 | Hinge Health | 4.82 Bn | 4.51 Bn | 154.23 Mn | 84.60% |
| 5 | Doximity | 4.21 Bn | 3.46 Bn | 125.97 Mn | 86.65% |
| 6 | Waystar Holding | 4.18 Bn | 4.03 Bn | 268.04 Mn | 85.40% |
| 7 | 10x Genomics | 3.78 Bn | 3.24 Bn | 106.18 Mn | 70.39% |
| 8 | Privia Health | 2.65 Bn | 2.28 Bn | 595.71 Mn | 98.65% |
| 9 | Omnicell | 1.95 Bn | 1.78 Bn | 140.36 Mn | 45.30% |
| 10 | American Well | 148.98 Mn | -18.24 Mn | 47.14 Mn | 85.89% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 85.89% |
| Dec 31, 2025 | -48.79% |
| Sep 30, 2025 | 52.42% |
| Jun 30, 2025 | 56.07% |
| Mar 31, 2025 | 52.76% |
| Dec 31, 2024 | -33.13% |
| Sep 30, 2024 | 72.53% |
| Jun 30, 2024 | 37.42% |
| Mar 31, 2024 | 56.78% |
| Dec 31, 2023 | 69.15% |
| Sep 30, 2023 | 67.09% |
| Jun 30, 2023 | 65.48% |
| Mar 31, 2023 | 64.49% |
| Dec 31, 2022 | 42.38% |
| Sep 30, 2022 | 40.03% |
| Jun 30, 2022 | 43.43% |
| Mar 31, 2022 | 42.76% |
| Dec 31, 2021 | 70.77% |
| Sep 30, 2021 | 43.45% |
| Jun 30, 2021 | 75.44% |
| Mar 31, 2021 | 38.01% |
| Dec 31, 2020 | 37.42% |
| Sep 30, 2020 | 32.67% |
| Jun 30, 2020 | 36.08% |
| Mar 31, 2020 | 38.51% |
| Dec 31, 2019 | 116.41% |
| Sep 30, 2019 | 45.14% |