American Well (AMWL) Operating Expenses (2019 - 2026)

American Well's Operating Expenses history runs 8 years deep, the most recent figure standing at $72.3 million for Q1 2026.

• In Q1 2026, Operating Expenses fell 25.64% year-over-year to $72.3 million; the TTM figure through Mar 2026 stood at $329.7 million (down 24.14% YoY), while the FY2025 annual figure was $354.6 million, down 24.86% from the prior year.
• Operating Expenses was $72.3 million for Q1 2026 at American Well, down from $80.5 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $461.3 million in Q1 2023 to a low of $72.3 million in Q1 2026.
• Historically, Operating Expenses has averaged $141.4 million across 5 years, with a median of $127.6 million in 2023.
• The sharpest annual moves came in 2023 and 2024: Operating Expenses soared 242.45% in 2023, then slumped 70.83% in 2024.
• A 5-year view of Operating Expenses shows it stood at $144.1 million in 2022, then retreated by 11.41% to $127.6 million in 2023, then decreased by 10.87% to $113.8 million in 2024, then slipped by 29.27% to $80.5 million in 2025, then slipped by 10.13% to $72.3 million in 2026.
• The last three Operating Expenses figures came in at $72.3 million (Q1 2026), $80.5 million (Q4 2025), and $85.6 million (Q3 2025), per Business Quant data.