American Well (AMWL) Research & Development (2019 - 2026)

American Well's Research & Development history runs 8 years deep, the most recent figure standing at $12.4 million for Q1 2026.

• In Q1 2026, Research & Development fell 43.99% year-over-year to $12.4 million; the TTM figure through Mar 2026 stood at $63.1 million (down 22.52% YoY), while the FY2025 annual figure was $72.9 million, down 15.34% from the prior year.
• Research & Development was $12.4 million for Q1 2026 at American Well, down from $13.9 million in the prior quarter.
• In the past five years, Research & Development ranged from a high of $37.5 million in Q1 2022 to a low of $12.4 million in Q1 2026.
• Historically, Research & Development has averaged $24.4 million across 5 years, with a median of $25.8 million in 2023.
• The sharpest annual moves came in 2022 and 2026: Research & Development surged 65.64% in 2022, then slumped 43.99% in 2026.
• A 5-year view of Research & Development shows it stood at $27.7 million in 2022, then decreased by 4.83% to $26.3 million in 2023, then dropped by 28.71% to $18.8 million in 2024, then fell by 25.78% to $13.9 million in 2025, then fell by 11.2% to $12.4 million in 2026.
• The last three Research & Development figures came in at $12.4 million (Q1 2026), $13.9 million (Q4 2025), and $18.6 million (Q3 2025), per Business Quant data.