American Well Corp Q2 2024 10-Q Filing
Ticker: AMWL · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 1393584
Sentiment: neutral
Topics: 10-Q, earnings, financials, healthcare
TL;DR
AMWL's Q2 2024 10-Q is in - check financials for telehealth performance.
AI Summary
American Well Corp (AMWL) filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and business segments are presented, with specific figures related to revenue, expenses, and other financial metrics for the reporting period and comparative periods.
Why It Matters
This filing provides investors with a detailed look at American Well's financial health and operational performance for the second quarter of 2024, influencing investment decisions.
Risk Assessment
Risk Level: medium — The filing contains standard financial disclosures for a public company, but the healthcare technology sector can be subject to regulatory changes and competitive pressures.
Key Numbers
- 20240630 — Period End Date (The end of the fiscal quarter reported in the 10-Q.)
- 20240731 — Filing Date (The date the 10-Q was officially filed with the SEC.)
Key Players & Entities
- American Well Corp (company) — Filer of the 10-Q
- 0000950170-24-088613 (other) — Accession Number for the filing
- 20240630 (date) — Period of report for the 10-Q
- 75 STATE STREET, 26TH FLOOR, Boston, MA 02109 (address) — Company's business and mailing address
- 617-205-3500 (phone_number) — Company's business phone number
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the filing covers the second quarter of 2024.
What is the company's official name and Central Index Key (CIK)?
The company's Conformed Name is American Well Corp, and its Central Index Key is 0001393584.
Where is American Well Corp headquartered?
American Well Corp's business and mailing address is 75 State Street, 26th Floor, Boston, MA 02109.
What is the SEC file number for American Well Corp?
The SEC File Number for American Well Corp is 001-39515.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on 20240731.
Filing Stats: 4,509 words · 18 min read · ~15 pages · Grade level 19.5 · Accepted 2024-07-31 16:22:23
Key Financial Figures
- $0.01 — d Class A common stock, par value of $0.01 per share AMWL The New York Stock E
Filing Documents
- amwl-20240630.htm (10-Q) — 1925KB
- amwl-ex10_3.htm (EX-10.3) — 207KB
- amwl-ex31_1.htm (EX-31.1) — 17KB
- amwl-ex31_2.htm (EX-31.2) — 17KB
- amwl-ex32_1.htm (EX-32.1) — 7KB
- amwl-ex32_2.htm (EX-32.2) — 6KB
- 0000950170-24-088613.txt ( ) — 8312KB
- amwl-20240630.xsd (EX-101.SCH) — 1231KB
- amwl-20240630_htm.xml (XML) — 1386KB
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheet as of June 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statement of Stockholders' Equity (unaudited) for the three and six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statement of Cash Flows (unaudited) for the six months ended June 30, 2024 and 2023 6 Notes to the Unaudited Condensed Consolidated Financial Statements 7 Item 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 30 PART II Other Information 31 Item 1.
Legal Proceedings
Legal Proceedings 31 Item 1A.
Risk Factors
Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 32 Item 6. Exhibits 32
- FINANCI AL INFORMATION
PART I - FINANCI AL INFORMATION
Financi al Statements
Item 1. Financi al Statements AMERICAN WELL CORPORATION CONDENSED CONSOLIDA TED BALANCE SHEETS (in thousands, except share and per share amounts) (unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 276,908 $ 372,038 Accounts receivable ($ 92 and $ 1,626 , from related parties and net of allowances of $ 902 and $ 2,291 , respectively) 76,086 54,146 Inventories 5,573 6,652 Deferred contract acquisition costs 2,329 2,262 Prepaid expenses and other current assets 17,278 14,484 Total current assets 378,174 449,582 Restricted cash 795 795 Property and equipment, net 491 572 Intangible assets, net 111,223 120,248 Operating lease right-of-use asset 8,814 10,453 Deferred contract acquisition costs, net of current portion 5,158 4,792 Other assets 1,973 2,083 Investment in minority owned joint venture (Note 2) 1,195 1,180 Total assets $ 507,823 $ 589,705 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 5,915 $ 4,864 Accrued expenses and other current liabilities 44,089 38,988 Operating lease liability, current 3,625 3,580 Deferred revenue ($ 489 and $ 1,286 from related parties, respectively) 64,271 46,365 Total current liabilities 117,900 93,797 Other long-term liabilities 1,415 1,425 Operating lease liability, net of current portion 6,363 8,206 Deferred revenue, net of current portion 4,276 6,091 Total liabilities 129,954 109,519 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.01 par value; 100,000,000 shares authorized, no shares issued or outstanding as of June 30, 2024 and as of December 31, 2023 — — Common stock, $ 0.01 par value; 1,000,000,000 Class A shares authorized, 13,308,758 and 12,776,608 shares issued and outstanding, respectively; 100,000,000 Class B shares authorized, 1,369,