American Well (AMWL) Operating Expenses (2019 - 2026)
American Well (AMWL) posted quarterly Operating Expenses of $72.3 million for Q1 2026, down 25.64% year-over-year from $97.2 million in Q1 2025, and down 10.13% quarter-over-quarter from $80.5 million in Q4 2025.
American Well (AMWL) Operating Expenses (2019 - 2026) Analysis & Trends
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 for Q1 2026 stood at $72.3 million, down from $80.5 million in the prior quarter.
- The five-year high for Operating Expenses was $461.3 million in Q1 2023, with the low at $72.3 million in Q1 2026.
- The 5-year median for Operating Expenses is $127.6 million (2023), against an average of $141.4 million.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses surged 242.45% in 2023, then sank 70.83% in 2024.
- American Well's Operating Expenses stood at $144.1 million in 2022, then fell by 11.41% to $127.6 million in 2023, then retreated by 10.87% to $113.8 million in 2024, then decreased by 29.27% to $80.5 million in 2025, then decreased by 10.13% to $72.3 million in 2026.
- Business Quant data shows AMWL's Operating Expenses at $72.3 million in Q1 2026, $80.5 million in Q4 2025, and $85.6 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 388.91 Mn |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 362.36 Mn |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 153.36 Mn |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 132.05 Mn |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 143.51 Mn |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | 398.00 Mn |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 243.63 Mn |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 99.28 Mn |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | 71.09 Mn |
| 10 | American Well | 210.72 Mn | 27.07 Mn | 27.56 Mn | 61.60 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 61.60 Mn |
| Mar 31, 2026 | 72.31 Mn |
| Dec 31, 2025 | 80.46 Mn |
| Sep 30, 2025 | 85.62 Mn |
| Jun 30, 2025 | 91.28 Mn |
| Mar 31, 2025 | 97.24 Mn |
| Dec 31, 2024 | 113.76 Mn |
| Sep 30, 2024 | 108.42 Mn |
| Jun 30, 2024 | 115.17 Mn |
| Mar 31, 2024 | 134.55 Mn |
| Dec 31, 2023 | 127.63 Mn |
| Sep 30, 2023 | 205.28 Mn |
| Jun 30, 2023 | 156.95 Mn |
| Mar 31, 2023 | 461.32 Mn |
| Dec 31, 2022 | 144.08 Mn |
| Sep 30, 2022 | 140.33 Mn |
| Jun 30, 2022 | 133.92 Mn |
| Mar 31, 2022 | 134.71 Mn |
| Dec 31, 2021 | 120.17 Mn |
| Sep 30, 2021 | 117.67 Mn |