American Well Corp Files Q3 2024 10-Q

TL;DR

AMWL Q3 10-Q is in! Check financials for telehealth performance.

AI Summary

American Well Corp (AMWL) filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial metrics and business segment information are presented, reflecting the company's ongoing activities in the telehealth sector.

Why It Matters

This filing provides investors with the latest financial results and operational details for American Well Corp, crucial for understanding the company's performance and future outlook in the evolving telehealth market.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the telehealth sector can be subject to regulatory changes and competitive pressures.

Key Numbers

• 0.1 — Q3 (Represents a financial metric for the third quarter, likely a ratio or percentage.)
• 0.05 — Q3 (Represents a financial metric for the third quarter, likely a ratio or percentage.)
• 0.05 — Q3 (Represents a financial metric for the third quarter, likely a ratio or percentage.)

Key Players & Entities

• American Well Corp (company) — Filer of the 10-Q
• 0000950170-24-119005 (other) — Accession Number for the filing
• 20240930 (date) — Conformed Period of Report
• 20241030 (date) — Filed as of Date
• Boston, MA (location) — Company Headquarters

FAQ

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-20240930.htm (10-Q) — 2094KB
• amwl-ex10_1.htm (EX-10.1) — 236KB
• amwl-ex10_2.htm (EX-10.2) — 30KB
• amwl-ex10_3.htm (EX-10.3) — 35KB
• amwl-ex31_1.htm (EX-31.1) — 18KB
• amwl-ex31_2.htm (EX-31.2) — 17KB
• amwl-ex32_1.htm (EX-32.1) — 7KB
• amwl-ex32_2.htm (EX-32.2) — 6KB
• 0000950170-24-119005.txt ( ) — 8842KB
• amwl-20240930.xsd (EX-101.SCH) — 1248KB
• amwl-20240930_htm.xml (XML) — 1436KB

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheet as of September 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statement of Stockholders' Equity (unaudited) for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statement of Cash Flows (unaudited) for the nine months ended September 30, 2024 and 2023 7 Notes to the Unaudited Condensed Consolidated Financial Statements 8 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 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 33 PART II Other Information 34 Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 35 Item 6. Exhibits 35

- 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 244,647 $ 372,038 Accounts receivable ($ 749 and $ 1,626 , from related parties and net of allowances of $ 1,056 and $ 2,291 , respectively) 89,264 54,146 Inventories 4,761 6,652 Deferred contract acquisition costs 2,391 2,262 Prepaid expenses and other current assets 15,814 14,484 Total current assets 356,877 449,582 Restricted cash 795 795 Property and equipment, net 424 572 Intangible assets, net 108,875 120,248 Operating lease right-of-use asset 8,012 10,453 Deferred contract acquisition costs, net of current portion 5,198 4,792 Other assets 2,312 2,083 Investment in minority owned joint venture (Note 2) 493 1,180 Total assets $ 482,986 $ 589,705 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 8,150 $ 4,864 Accrued expenses and other current liabilities 47,908 38,988 Operating lease liability, current 3,658 3,580 Deferred revenue ($ 61 and $ 1,286 from related parties, respectively) 62,457 46,365 Total current liabilities 122,173 93,797 Other long-term liabilities 1,500 1,425 Operating lease liability, net of current portion 5,440 8,206 Deferred revenue, net of current portion 3,823 6,091 Total liabilities 132,936 109,519 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 September 30, 2024 and as of December 31, 2023 — — Common stock, $ 0.01 par value; 1,000,000,000 Class A shares authorized, 13,640,114 and 12,776,608 shares issued and outstanding, respectively; 100,000,000 Class B shares authorize

View Full Filing

View this 10-Q filing on SEC EDGAR