American Well (AMWL) Research & Development (2019 - 2026)
American Well (AMWL) posted quarterly Research & Development of $7.7 million for Q1 2026, down 38.41% year-over-year from $12.6 million in Q1 2025, and down 14.82% quarter-over-quarter from $9.1 million in Q4 2025.
American Well (AMWL) Research & Development (2019 - 2026) Analysis & Trends
American Well's Research & Development history runs 8 years deep, the most recent figure standing at $7.7 million for Q1 2026.
- In Q1 2026, Research & Development fell 38.41% year-over-year to $7.7 million; the TTM figure through Mar 2026 stood at $44.2 million (down 35.61% YoY), while the FY2025 annual figure was $43.3 million, down 43.28% from the prior year.
- Research & Development for Q1 2026 stood at $7.7 million, down from $9.1 million in the prior quarter.
- The five-year high for Research & Development was $37.5 million in Q1 2022, with the low at $7.0 million in Q4 2023.
- The 5-year median for Research & Development is $19.8 million (2024), against an average of $20.1 million.
- The sharpest annual moves came in 2022 and 2023: Research & Development jumped 172.95% in 2022, then slumped 74.79% in 2023.
- American Well's Research & Development stood at $27.7 million in 2022, then plunged by 74.79% to $7.0 million in 2023, then soared by 120.47% to $15.4 million in 2024, then tumbled by 40.91% to $9.1 million in 2025, then retreated by 14.82% to $7.7 million in 2026.
- Business Quant data shows AMWL's Research & Development at $7.7 million in Q1 2026, $9.1 million in Q4 2025, and $9.1 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 208.32 Mn |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | - |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 26.83 Mn |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 56.79 Mn |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 81.41 Mn |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | 99.00 Mn |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 50.38 Mn |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 45.05 Mn |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | 30.58 Mn |
| 10 | American Well | 210.72 Mn | 27.07 Mn | 27.56 Mn | 10.35 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 10.35 Mn |
| Mar 31, 2026 | 7.75 Mn |
| Dec 31, 2025 | 9.09 Mn |
| Sep 30, 2025 | 9.08 Mn |
| Jun 30, 2025 | 18.24 Mn |
| Mar 31, 2025 | 12.58 Mn |
| Dec 31, 2024 | 15.39 Mn |
| Sep 30, 2024 | 19.80 Mn |
| Jun 30, 2024 | 20.81 Mn |
| Mar 31, 2024 | 26.68 Mn |
| Dec 31, 2023 | 6.98 Mn |
| Sep 30, 2023 | 27.72 Mn |
| Jun 30, 2023 | 21.55 Mn |
| Mar 31, 2023 | 25.92 Mn |
| Dec 31, 2022 | 27.69 Mn |
| Sep 30, 2022 | 18.49 Mn |
| Jun 30, 2022 | 37.07 Mn |
| Mar 31, 2022 | 37.48 Mn |
| Dec 31, 2021 | 21.26 Mn |
| Sep 30, 2021 | 16.37 Mn |