American Well (AMWL) Research & Development (2019 - 2026)
American Well's Research & Development came in at $10.35 million for Q2 2026, down 43.2% from $18.24 million a year earlier and down 16.4% from the prior quarter.
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Analysis
American Well (AMWL) Research & Development (2019 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, American Well reported Research & Development of $55.25 million, down 30.0% year-over-year; for FY2025, it was $72.86 million, down 15.3% from FY2024.
- Research & Development has declined in each of the last three years, with a five-year compound annual growth rate of -2.9% (FY2020 to FY2025).
- Going back by year, Research & Development was $86.07 million in FY2024 (-18.7%), $105.83 million in FY2023 (-23.6%), $138.49 million in FY2022 (+29.9%) and $106.59 million in FY2021 (+26.3%).
- The Q2 2026 figure represents the lowest quarterly Research & Development in data going back to Q3 2019.
- Year-over-year, Research & Development has declined for nine consecutive quarters, with an average decline of 25.7% over the last eight quarters.
- The fastest year-over-year change in Research & Development over five years came in Q2 2022 (growth of 65.6%), and the weakest in Q1 2026 (a decline of 44.0%).
- Business Quant data shows AMWL's Research & Development at $12.38 million (Q1 2026), $13.94 million (Q4 2025) and $18.58 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 222.92 Mn |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 102.56 Mn |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 109.00 Mn |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 115.71 Mn |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | 177.10 Mn |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 92.20 Mn |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 34.77 Mn |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 107.00 Mn |
| 10 | American Well | 228.49 Mn | -516.79 Mn | 27.56 Mn | 10.35 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 10.35 Mn |
| Mar 31, 2026 | 12.38 Mn |
| Dec 31, 2025 | 13.94 Mn |
| Sep 30, 2025 | 18.58 Mn |
| Jun 30, 2025 | 18.24 Mn |
| Mar 31, 2025 | 22.10 Mn |
| Dec 31, 2024 | 18.78 Mn |
| Sep 30, 2024 | 19.80 Mn |
| Jun 30, 2024 | 20.81 Mn |
| Mar 31, 2024 | 26.68 Mn |
| Dec 31, 2023 | 26.35 Mn |
| Sep 30, 2023 | 27.72 Mn |
| Jun 30, 2023 | 25.84 Mn |
| Mar 31, 2023 | 25.92 Mn |
| Dec 31, 2022 | 27.69 Mn |
| Sep 30, 2022 | 36.25 Mn |
| Jun 30, 2022 | 37.07 Mn |
| Mar 31, 2022 | 37.48 Mn |
| Dec 31, 2021 | 33.78 Mn |
| Sep 30, 2021 | 27.40 Mn |
API Access
American Well Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=AMWL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "AMWL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=AMWL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();