American Well (AMWL) Gross Margin (2019 - 2026)
American Well (AMWL) posted quarterly Gross Margin of 50.95% for Q1 2026, down 180.0% year-over-year from 63.69% in Q1 2025, and down 0.55% quarter-over-quarter from 51.23% in Q4 2025.
American Well (AMWL) Gross Margin (2019 - 2026) Analysis & Trends
American Well's Gross Margin history runs 8 years deep, the most recent figure standing at 50.95% for Q1 2026.
- In Q1 2026, Gross Margin fell 180.0% year-over-year to 50.95%; the TTM figure through Mar 2026 stood at 52.9% (up 863.0% YoY), while the FY2025 annual figure was 53.29%, up 1439.0% from the prior year.
- Gross Margin for Q1 2026 stood at 50.95%, down from 51.23% in the prior quarter.
- The five-year high for Gross Margin was 56.07% in Q2 2025, with the low at 30.86% in Q1 2024.
- The 5-year median for Gross Margin is 42.38% (2022), against an average of 43.09%.
- The sharpest annual moves came in 2023 and 2025: Gross Margin plunged 865 bps in 2023, then surged 2190 bps in 2025.
- American Well's Gross Margin stood at 42.38% in 2022, then dropped by 20 bps to 33.74% in 2023, then jumped by 44 bps to 48.44% in 2024, then increased by 6 bps to 51.23% in 2025, then retreated by 1 bps to 50.95% in 2026.
- Business Quant data shows AMWL's Gross Margin at 50.95% in Q1 2026, 51.23% in Q4 2025, and 52.42% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 74.98% |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 12.72% |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 72.27% |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 74.48% |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 86.44% |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | 57.35% |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 69.44% |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 84.87% |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | 83.00% |
| 10 | American Well | 210.72 Mn | 27.07 Mn | 27.56 Mn | 52.95% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 52.95% |
| Mar 31, 2026 | 50.95% |
| Dec 31, 2025 | 51.23% |
| Sep 30, 2025 | 52.42% |
| Jun 30, 2025 | 56.07% |
| Mar 31, 2025 | 52.76% |
| Dec 31, 2024 | 48.44% |
| Sep 30, 2024 | 37.18% |
| Jun 30, 2024 | 37.42% |
| Mar 31, 2024 | 30.86% |
| Dec 31, 2023 | 33.74% |
| Sep 30, 2023 | 34.66% |
| Jun 30, 2023 | 38.76% |
| Mar 31, 2023 | 39.45% |
| Dec 31, 2022 | 42.38% |
| Sep 30, 2022 | 40.03% |
| Jun 30, 2022 | 43.43% |
| Mar 31, 2022 | 42.76% |
| Dec 31, 2021 | 39.94% |
| Sep 30, 2021 | 43.45% |