American Well Corp Files 2023 Annual Report Amendment
Ticker: AMWL · Form: 10-K/A · Filed: 2024-03-01T00:00:00.000Z
Sentiment: neutral
Topics: amendment, financial-reporting, acquisition, litigation
Related Tickers: AMWL
TL;DR
AMWL filed its 2023 10-K amendment, updating financials and disclosures on acquisitions.
AI Summary
American Well Corp filed an amendment (10-K/A) to its annual report for the fiscal year ending December 31, 2023. This filing provides updated information and disclosures related to the company's financial performance and operations. Key areas of disclosure include research and development expenses, intangible assets, and information regarding acquisitions like SilverCloud Health Holdings Inc. and Conversa Health Inc.
Why It Matters
This amendment provides updated financial and operational details for American Well Corp, offering investors and stakeholders a more current view of the company's status and disclosures.
Risk Assessment
Risk Level: medium — The filing is an amendment to a 10-K, indicating potential corrections or additions to previously filed information, which could signal ongoing issues or a need for clarification.
Key Numbers
- 2023-12-31 — Fiscal Year End (The period covered by the amended 10-K filing.)
- 2024-03-01 — Filing Date (The date the amendment was filed with the SEC.)
Key Players & Entities
- American Well Corp (company) — Filer of the 10-K/A
- SilverCloud Health Holdings Inc. (company) — Acquired entity mentioned in disclosures
- Conversa Health Inc. (company) — Acquired entity mentioned in disclosures
- 0000950170-24-024026 (accession_number) — SEC Filing Accession Number
- 20231231 (date) — Fiscal Year End
FAQ
What specific financial information was updated or corrected in this 10-K/A filing?
The filing is an amendment to the 10-K for the period ending December 31, 2023, and provides updated disclosures. Specific details on financial updates would be found within the detailed sections of the amended report, such as the financial statements and management's discussion and analysis.
What is the significance of the mention of 'SilverCloud Health Holdings Inc.' and 'Conversa Health Inc.'?
These entities are mentioned in relation to acquisitions by American Well Corp, with specific dates like August 1, 2021, for SilverCloud and August 9, 2021, for Conversa, indicating their integration into the company's operations and financial reporting.
What does 'us-gaap:ResearchAndDevelopmentExpenseMember' refer to in the filing?
This refers to the accounting standard for Research and Development Expenses, with a specific mention for the period of January 1, 2021, to December 31, 2021, indicating expenses incurred in that category.
What is the purpose of filing a 10-K/A?
A 10-K/A is an amendment to an annual report (10-K) that allows a company to make corrections, additions, or updates to information previously filed with the SEC.
What does 'us-gaap:PendingLitigationMember' indicate for the year 2022?
The mention of 'us-gaap:PendingLitigationMember' for December 31, 2022, suggests that the company had pending litigation as of that date, which is a standard disclosure item for financial reporting.
From the Filing
0000950170-24-024026.txt : 20240301 0000950170-24-024026.hdr.sgml : 20240301 20240301171253 ACCESSION NUMBER: 0000950170-24-024026 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 97 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240301 DATE AS OF CHANGE: 20240301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: American Well Corp CENTRAL INDEX KEY: 0001393584 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-39515 FILM NUMBER: 24711509 BUSINESS ADDRESS: STREET 1: 75 STATE STREET STREET 2: 26TH FLOOR CITY: Boston STATE: MA ZIP: 02109 BUSINESS PHONE: 617-205-3500 MAIL ADDRESS: STREET 1: 75 STATE STREET STREET 2: 26TH FLOOR CITY: Boston STATE: MA ZIP: 02109 10-K/A 1 amwl-20231231.htm 10-K/A 10-K/A true 0001393584 FY 3 three years 0001393584 us-gaap:ResearchAndDevelopmentExpenseMember 2021-01-01 2021-12-31 0001393584 srt:MaximumMember us-gaap:DevelopedTechnologyRightsMember 2023-12-31 0001393584 amwl:SilverCloudHealthHoldingsIncMember 2021-08-01 2021-08-31 0001393584 us-gaap:PendingLitigationMember 2022-12-31 0001393584 us-gaap:ResearchMember us-gaap:StateAndLocalJurisdictionMember 2023-12-31 0001393584 amwl:ConversaHealthIncMember us-gaap:CustomerRelationshipsMember 2021-08-09 2021-08-09 0001393584 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2022-12-31 0001393584 us-gaap:TechnologyBasedIntangibleAssetsMember amwl:SilverCloudHealthHoldingsIncMember 2021-08-27 2021-08-27 0001393584 amwl:TwoThousandAndTwentyEquityIncentivePlanMember 2023-01-01 2023-12-31 0001393584 us-gaap:RetainedEarningsAppropriatedMember 2023-12-31 0001393584 us-gaap:SoftwareDevelopmentMember 2023-12-31 0001393584 us-gaap:FairValueMeasurementsRecurringMember 2022-12-31 0001393584 us-gaap:ParentMember 2023-01-01 2023-12-31 0001393584 amwl:SilverCloudHealthHoldingsIncMember us-gaap:CommonClassAMember 2022-05-11 2022-05-11 0001393584 us-gaap:ParentMember 2022-01-01 2022-12-31 0001393584 amwl:CcawJvLlcMember 2020-01-01 2020-12-31 0001393584 amwl:ContractAcquisitionCostMember 2023-01-01 2023-12-31 0001393584 us-gaap:ResearchAndDevelopmentExpenseMember 2023-01-01 2023-12-31 0001393584 us-gaap:FairValueInputsLevel1Member us-gaap:MoneyMarketFundsMember us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001393584 us-gaap:CommonClassBMember 2023-01-01 2023-12-31 0001393584 amwl:PlatformSubscriptionMember 2023-01-01 2023-12-31 0001393584 amwl:CcacvJvLlcMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-01-01 2020-12-31 0001393584 amwl:PlatformSubscriptionMember 2021-01-01 2021-12-31 0001393584 amwl:NtnMemberMember 2021-01-01 2021-12-31 0001393584 amwl:ContractFulfillmentCostMember 2021-01-01 2021-12-31 0001393584 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2023-01-01 2023-12-31 0001393584 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2023-12-31 0001393584 us-gaap:DevelopedTechnologyRightsMember 2022-12-31 0001393584 us-gaap:RetainedEarningsAppropriatedMember 2021-12-31 0001393584 amwl:ClevelandClinicMember us-gaap:RelatedPartyMember 2023-12-31 0001393584 amwl:CcacvJvLlcMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2023-12-31 0001393584 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2021-01-01 2021-12-31 0001393584 2023-06-30 0001393584 2022-12-31 0001393584 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-12-31 0001393584 us-gaap:ComputerEquipmentMember srt:MaximumMember 2023-12-31 0001393584 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-12-31 0001393584 amwl:ContractFulfillmentCostMember 2022-12-31 0001393584 us-gaap:CustomerConcentrationRiskMember amwl:RelatedPartyClientOneMember us-gaap:SalesRevenueNetMember 2021-01-01 2021-12-31 0001393584 us-gaap:EmployeeStockOptionMember 2023-01-01 2023-12-31 0001393584 2020-12-31 0001393584 us-g