AMWL Class A American Well Corporation Class A Common Stock
NYSE · Health Care · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 4, 2026
$12.39
· of 52w range
· above low
· to high
$3.7152w low
$14.1952w high
Market Cap (MRQ)
$210M
P/E (TTM)
-2.6
EPS (TTM)
$-4.78
Revenue (TTM)
$219M
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52W Range
$4–$14
Analyst Rating
HOLD
Price Target
$13
P/E
-2.6
ROE
-31.0%
Net Profit Margin
-35.7%
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AMWL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$12.39
Market Cap (MRQ)
$210M
P/E (TTM)
-2.6
EPS (TTM)
$-4.78
Revenue (TTM)
$219M
ROE (TTM)
-31.0%
52W Range
$4–$14
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| July 11, 2024 | 1-for-20 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$249M2018-12-31 → 2025-12-31
EPS$-5.962020-12-31 → 2025-12-31
Free Cash Flow$-66M2020-12-31 → 2025-12-31
Net margin-35.7%2020-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | AMWL | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -2.65Y avg ≈-36.0 | ≈-36.0 | · | · | |
| P/S (TTM) | 1.05Y avg ≈43.1 | ≈43.1 | 1.0 | Undervalued | |
| P/B (MRQ) | 0.95Y avg ≈11.9 | ≈11.9 | 2.0 | Undervalued | |
| Price / FCF (TTM) | -7.95Y avg ≈-72.8 | ≈-72.8 | · | · | |
| Price / Cash Flow (TTM) | -7.95Y avg ≈-73.0 | ≈-73.0 | · | · | |
| Price / Tangible Book (MRQ) | 1.35Y avg ≈21.4 | ≈21.4 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | AMWL | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -37.3%5Y avg ≈-113.1% | ≈-113.1% | -1.5% | Weak | |
| EBITDA Margin (TTM) | -22.4%5Y avg ≈-102.2% | ≈-102.2% | -1.5% | Weak | |
| Pretax Margin (TTM) | -35.8%5Y avg ≈-109.4% | ≈-109.4% | -14.1% | Weak | |
| Net Profit Margin (TTM) | -35.7%5Y avg ≈-109.6% | ≈-109.6% | -9.8% | Weak | |
| ROA (TTM) | -21.8%5Y avg ≈-34.7% | ≈-34.7% | -15.2% | Weak | |
| ROE (TTM) | -31.0%5Y avg ≈-43.1% | ≈-43.1% | -28.2% | Weak | |
| ROIC | -44.9%5Y avg ≈-61.4% | ≈-61.4% | -33.3% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | AMWL | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 2.95Y avg ≈4.5 | ≈4.5 | 2.7 | In line | |
| Quick Ratio | 3.25Y avg ≈4.3 | ≈4.3 | 1.6 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | AMWL | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -2.0%5Y avg ≈0.48% | ≈0.48% | · | · | |
| Revenue CAGR 3Y | -3.5%5Y avg ≈-0.47% | ≈-0.47% | · | · | |
| Revenue CAGR 5Y | 0.33% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | AMWL | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.75Y avg ≈0.4 | ≈0.4 | 0.5 | Top tier | |
| Receivables Turnover | 4.15Y avg ≈4.6 | ≈4.6 | 5.2 | Weak | |
| Revenue / Employee | ≈$443.6K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
24.2%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 3, 2026 | $-0.59 | $-0.88 | 32.7% |
| March 31, 2026 | $-0.66 | $-1.18 | 44.1% | |
| Dec. 31, 2025 | $-1.52 | $-1.81 | 16.2% | |
| Sept. 30, 2025 | $-2.00 | $-1.83 | -9.0% | |
| June 30, 2025 | $-1.24 | $-1.78 | 30.2% | |
| March 31, 2025 | $-1.88 | $-2.73 | 31.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $249M | $254M | $259M | $277M | $253M | $245M | $149M | |
| R&D Expense | $73M | $86M | $106M | $138M | $107M | $84M | $54M | |
| SG&A Expense | $88M | $121M | $127M | $146M | $95M | $166M | $54M | |
| Operating Income | $-105M | $-218M | $-692M | $-276M | $-179M | $-227M | $-95M | |
| Pretax Income | $-95M | $-210M | $-675M | $-270M | $-179M | $-226M | $-89M | |
| Income Tax | $434.0K | $3M | $4M | $64.0K | $-5M | $639.0K | $-803.0K | |
| Net Income | $-96M | $-208M | $-675M | $-270M | $-176M | $-224M | $-87M | |
| EPS (Basic) | $-5.96 | $-13.88 | $-47.50 | $-19.72 | $-0.69 | $-2.27 | · | |
| EPS (Diluted) | $-5.96 | $-13.88 | $-47.50 | $-19.72 | $-0.69 | $-2.27 | · | |
| Shares (Basic) | 16,047,452 | 14,999,590 | 14,212,505 | 13,712,290 | 254,068,942 | 99,044,312 | · | |
| Shares (Diluted) | 16,047,452 | 14,999,590 | 14,212,505 | 13,712,290 | 254,068,942 | 99,044,312 | · | |
| EBITDA | $-71M | $-185M | $-661M | $-250M | $-163M | $-217M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $182M | $228M | $372M | $539M | $746M | $942M | $138M | |
| Short-term Investments | · | · | · | · | · | $100M | $40M | |
| Receivables | $50M | $72M | $54M | $58M | $51M | $45M | $33M | |
| Inventory | $1M | $3M | $7M | $9M | $8M | $9M | $3M | |
| Prepaid Expense | $11M | $11M | $14M | $20M | $20M | $14M | $9M | |
| Current Assets | $247M | $317M | $450M | $627M | $827M | $1.11B | $224M | |
| PP&E (Net) | $225.0K | $376.0K | $572.0K | $1M | $2M | $4M | $3M | |
| PP&E (Gross) | $12M | $13M | $13M | $13M | $14M | $16M | $12M | |
| Accum. Depreciation | $11M | $13M | $13M | $12M | $12M | $12M | $10M | |
| Goodwill | · | $0 | $0 | $435M | $443M | $194M | $194M | |
| Intangibles | $66M | $102M | $120M | $135M | $152M | $56M | $64M | |
| Other Non-current Assets | $2M | $2M | $2M | $2M | $2M | $1M | $2M | |
| Total Assets | $324M | $436M | $590M | $1.22B | $1.45B | $1.38B | $500M | |
| Accounts Payable | $2M | $5M | $5M | $7M | $12M | $6M | $7M | |
| Accrued Liabilities | $45M | $49M | $39M | $54M | $59M | $42M | $27M | |
| Current Liabilities | $73M | $111M | $94M | $114M | $142M | $121M | $107M | |
| Capital Leases | $892.0K | $5M | $8M | $12M | $15M | $1M | $7M | |
| Other Non-current Liabilities | $1M | $1M | $1M | $2M | $5M | $64.0K | $309.0K | |
| Total Liabilities | $76M | $120M | $110M | $134M | $185M | $130M | $125M | |
| Common Stock | $165.0K | $156.0K | $145.0K | $3M | $3M | $2M | $423.0K | |
| Paid-in Capital | $2.31B | $2.29B | $2.24B | $2.16B | $2.05B | $1.84B | $50M | |
| Retained Earnings | $-2.06B | $-1.97B | $-1.76B | $-1.08B | $-811M | $-582M | $-358M | |
| Treasury Stock | · | · | · | · | · | $38M | $158.0K | |
| AOCI | $-12M | $-16M | $-16M | $-17M | $-6M | $297.0K | $250.0K | |
| Stockholders' Equity | $236M | $305M | $464M | $1.06B | $1.24B | $1.22B | $-307M | |
| Liabilities + Equity | $324M | $436M | $590M | $1.22B | $1.45B | $1.38B | $500M | |
| Shares Outstanding | 16,430,083 | 15,570,172 | 288,488,497 | 277,139,679 | 261,871,587 | 235,604,105 | 42,302,845 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $34M | $33M | $32M | $26M | $16M | $10M | $8M | |
| Stock-based Comp | $22M | $48M | $72M | $68M | $44M | $118M | $12M | |
| Deferred Tax | $-1M | $-251.0K | $-158.0K | $-3M | $-6M | $-94.0K | $-1M | |
| Amort. of Intangibles | $34M | $33M | $31M | $25M | $14M | $8M | $6M | |
| Restructuring | $11M | $21M | · | · | · | · | · | |
| Other Non-cash | $-25M | $541.0K | $423M | $-19M | $-19M | $-17M | · | |
| Operating Cash Flow | $-66M | $-127M | $-148M | $-192M | $-142M | $-112M | $-82M | |
| CapEx | $21.0K | $119.0K | $192.0K | $292.0K | $559.0K | $3M | $1M | |
| Investing Cash Flow | $17M | $-19M | $-19M | $-12M | $-60M | $-67M | $120M | |
| Stock Issued | · | · | · | · | · | $99M | · | |
| Net Stock Activity | · | · | · | · | · | $99M | · | |
| Financing Cash Flow | $840.0K | $1M | $2M | $-4M | $6M | $983M | $47M | |
| Net Change in Cash | $-46M | $-144M | $-167M | $-208M | $-196M | $804M | $85M | |
| Free Cash Flow | $-66M | $-127M | $-149M | $-193M | $-142M | $-116M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -42.2% | -85.5% | -267.2% | -99.5% | -70.9% | -92.7% | · | |
| Net Margin | -38.4% | -81.8% | -260.6% | -97.6% | -69.8% | -91.5% | · | |
| Pretax Margin | -37.9% | -81.3% | -259.7% | -97.3% | -70.8% | -92.1% | · | |
| EBITDA Margin | -28.6% | -72.6% | -255.0% | -90.1% | -64.5% | -88.6% | · | |
| ROA | -25.2% | -40.6% | -74.7% | -20.3% | -12.5% | -23.9% | · | |
| ROE | -35.4% | -54.1% | -88.4% | -23.5% | -14.3% | -49.6% | · | |
| ROIC | -44.9% | -72.3% | -150.0% | -25.9% | -14.0% | -18.6% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.4 | 2.8 | 4.8 | 5.5 | 5.8 | 9.2 | · | |
| Quick Ratio | 3.2 | 2.7 | 4.5 | 5.2 | 5.6 | 9.0 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.5 | 0.3 | 0.2 | 0.2 | 0.3 | · | |
| Receivables Turnover | 4.1 | 4.0 | 4.6 | 5.1 | 5.2 | 6.3 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $14.34 | $19.57 | $1.61 | $3.84 | $4.73 | $5.20 | · | |
| Revenue / Share | $15.54 | $16.96 | $0.91 | $1.01 | · | · | · | |
| Cash Flow / Share | $-4.11 | $-8.49 | $-0.52 | $-0.70 | · | · | · | |
| Cash / Share | $11.10 | $14.66 | $1.29 | $1.94 | $2.85 | $4.00 | · | |
| EPS (TTM) | $-5.96 | $-13.88 | $-47.50 | $-19.72 | $-0.69 | $-2.27 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -2.0% | -1.8% | -6.6% | 9.7% | 3.1% | · | · | |
| Revenue CAGR 3Y | -3.5% | 0.21% | 1.8% | · | · | · | · | |
| Revenue CAGR 5Y | 0.33% | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $249M | $254M | $259M | $277M | $253M | $245M | · | |
| Net Income TTM | $-96M | $-208M | $-675M | $-270M | $-176M | $-224M | · | |
| Market Cap | $81M | $113M | $8.60B | $15.69B | $31.63B | $119.36B | · | |
| P/E | -0.8 | -0.5 | -0.6 | -2.9 | -175.1 | -223.2 | · | |
| P/S | 0.3 | 0.4 | 33.2 | 56.6 | 125.1 | 486.6 | · | |
| P/B | 0.3 | 0.4 | 18.5 | 14.7 | 25.5 | 97.5 | · | |
| P / Tangible Book | 0.5 | 0.6 | 25.0 | 31.8 | 49.1 | 122.5 | · | |
| P / Cash Flow | -1.2 | -0.9 | -58.0 | -81.6 | -223.5 | -1061.3 | · | |
| P / FCF | -1.2 | -0.9 | -57.9 | -81.4 | -222.6 | -1030.9 | · | |
| Earnings Yield | -121.4% | -191.5% | -159.4% | -34.8% | -0.57% | -0.45% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $52M | $55M | $55M | $56M | $71M | $67M | $71M | $61M | $63M | $60M | $71M | $62M | $62M | $64M | $79M | $69M | |
| R&D Expense | $10M | $12M | $14M | $19M | $18M | $22M | $19M | $20M | $21M | $27M | $26M | $28M | $26M | $26M | $28M | $36M | |
| SG&A Expense | $14M | $18M | $22M | $22M | $21M | $23M | $35M | $25M | $28M | $33M | $24M | $30M | $36M | $36M | $41M | $38M | |
| Operating Income | $-10M | $-17M | $-25M | $-29M | $-20M | $-30M | $-43M | $-47M | $-52M | $-75M | $-57M | $-143M | $-95M | $-397M | $-65M | $-71M | |
| Pretax Income | $-10M | $-10M | $-27M | $-31M | $-20M | $-17M | $-45M | $-43M | $-50M | $-71M | $-51M | $-135M | $-92M | $-396M | $-61M | $-70M | |
| Income Tax | $-548.0K | $217.0K | $-626.0K | $1M | $-725.0K | $568.0K | $2M | $-149.0K | $97.0K | $1M | $547.0K | $1M | $716.0K | $1M | $-160.0K | $95.0K | |
| Net Income | $-10M | $-11M | $-25M | $-32M | $-20M | $-19M | $-43M | $-43M | $-50M | $-72M | $-49M | $-136M | $-92M | $-398M | $-61M | $-70M | |
| EPS (Basic) | $-0.59 | $-0.66 | $-1.53 | $-2.00 | $-1.24 | $-1.19 | $-2.71 | $-2.87 | $-3.36 | $-4.94 | $-30.01 | $-9.54 | $-6.53 | $-1.42 | $-18.96 | $-0.25 | |
| EPS (Diluted) | $-0.59 | $-0.66 | $-1.53 | $-2.00 | $-1.24 | $-1.19 | $-2.71 | $-2.87 | $-3.36 | $-4.94 | $-30.01 | $-9.54 | $-6.53 | $-1.42 | $-18.96 | $-0.25 | |
| Shares (Basic) | 16,761,044 | 16,589,671 | · | 16,214,711 | 15,892,970 | 15,672,373 | · | 15,135,421 | 14,875,589 | 14,591,020 | · | 14,294,690 | 14,162,775 | 279,966,645 | · | 277,389,730 | |
| Shares (Diluted) | 16,761,044 | 16,589,671 | · | 16,214,711 | 15,892,970 | 15,672,373 | · | 15,135,421 | 14,875,589 | 14,591,020 | · | 14,294,690 | 14,162,775 | 279,966,645 | · | 277,389,730 | |
| EBITDA | $-10M | $-10M | · | $-29M | $-20M | $-23M | · | $-47M | $-52M | $-67M | · | $-143M | $-95M | $-390M | · | $-71M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $196M | $179M | $182M | $201M | $219M | $222M | $228M | $245M | $277M | $309M | $372M | $319M | $161M | $113M | $539M | $333M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | $99M | $297M | $394M | · | $249M | |
| Receivables | $53M | $57M | $50M | $56M | $54M | $72M | $72M | $89M | $76M | $81M | · | $47M | $48M | $56M | · | $46M | |
| Inventory | $964.0K | $1M | $1M | $2M | $2M | $3M | $3M | $5M | $6M | $7M | · | $8M | $9M | $8M | · | $8M | |
| Prepaid Expense | $12M | $18M | $11M | $10M | $12M | $12M | $11M | $16M | $17M | $16M | · | $14M | $18M | $15M | · | $21M | |
| Current Assets | $265M | $259M | $247M | $271M | $290M | $312M | $317M | $357M | $378M | $414M | · | $489M | $535M | $588M | · | $657M | |
| PP&E (Net) | $165.0K | $178.0K | $225.0K | $249.0K | $295.0K | $336.0K | $376.0K | $424.0K | $491.0K | $552.0K | · | $576.0K | $586.0K | $719.0K | · | $1M | |
| PP&E (Gross) | · | · | $12M | · | · | · | $13M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $11M | · | · | · | $13M | · | · | · | · | · | · | · | · | · | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | $0 | · | $79M | $107M | $435M | $425M | |
| Intangibles | $57M | $61M | $66M | $75M | $84M | $91M | $102M | $109M | $111M | $114M | · | $126M | $135M | $135M | · | $127M | |
| Other Non-current Assets | $2M | $1M | $2M | $3M | $3M | $4M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Total Assets | $327M | $326M | $324M | $359M | $389M | $419M | $436M | $483M | $508M | $548M | · | $635M | $772M | $851M | · | $1.23B | |
| Accounts Payable | $2M | $1M | $2M | $6M | $4M | $6M | $5M | $8M | $6M | $7M | · | $5M | $5M | $7M | · | $6M | |
| Accrued Liabilities | $60M | $49M | $45M | $47M | $39M | $39M | $49M | $48M | $44M | $39M | · | $37M | $43M | $40M | · | $45M | |
| Current Liabilities | $91M | $84M | $73M | $86M | $88M | $107M | $111M | $122M | $118M | $108M | · | $99M | $110M | $116M | · | $105M | |
| Capital Leases | $0 | $0 | $892.0K | $2M | $3M | $4M | $5M | $5M | $6M | $7M | · | $9M | $10M | $11M | · | $12M | |
| Other Non-current Liabilities | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $1M | $1M | · | $2M | $2M | $2M | · | $3M | |
| Total Liabilities | $93M | $86M | $76M | $92M | $94M | $114M | $120M | $133M | $130M | $125M | · | $115M | $128M | $136M | · | $127M | |
| Common Stock | $170.0K | $167.0K | $165.0K | $164.0K | $161.0K | $158.0K | $156.0K | $153.0K | $151.0K | $3M | · | $3M | $3M | $3M | · | $3M | |
| Paid-in Capital | $2.31B | $2.31B | $2.31B | $2.30B | $2.30B | $2.29B | $2.29B | $2.28B | $2.26B | $2.25B | · | $2.22B | $2.20B | $2.18B | · | $2.13B | |
| Retained Earnings | $-2.08B | $-2.07B | $-2.06B | $-2.04B | $-2.00B | $-1.98B | $-1.97B | $-1.92B | $-1.88B | $-1.83B | · | $-1.71B | $-1.57B | $-1.48B | · | $-1.02B | |
| AOCI | $-10M | $-12M | $-12M | $-13M | $-14M | $-16M | $-16M | $-16M | $-21M | $-16M | · | $-14M | $-9M | $-11M | · | $-31M | |
| Stockholders' Equity | $221M | $227M | $236M | $255M | $283M | $294M | $305M | $337M | $364M | $409M | · | $502M | $626M | $695M | · | $1.08B | |
| Liabilities + Equity | $327M | $326M | $324M | $359M | $389M | $419M | $436M | $483M | $508M | $548M | · | $635M | $772M | $851M | · | $1.23B | |
| Shares Outstanding | 16,925,006 | 16,658,772 | 16,430,083 | 16,319,549 | 16,089,191 | 15,784,916 | · | 15,287,409 | 14,956,053 | 296,104,745 | · | 286,984,129 | 284,022,947 | 280,708,745 | · | 275,250,318 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $8M | $8M | $9M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $7M | $7M | $6M | |
| Stock-based Comp | $2M | $2M | $5M | $4M | $6M | $7M | $11M | $11M | $10M | $16M | $13M | $17M | $22M | $21M | $19M | $21M | |
| Amort. of Intangibles | $7M | $8M | $8M | $9M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $7M | $6M | $6M | |
| Restructuring | $-643.0K | $4M | $2M | $3M | $3M | $3M | $4M | $3M | $5M | $9M | · | · | · | · | · | · | |
| Other Non-cash | · | $6.0K | · | · | · | $-22M | · | · | · | $-12M | · | · | · | $340M | · | · | |
| Operating Cash Flow | $11M | $-983.0K | $-17M | $-19M | $-5M | $-25M | $-13M | $-32M | $-22M | $-60M | $-42M | $-38M | $-40M | $-29M | $-36M | $-51M | |
| CapEx | $8.0K | $5.0K | $12.0K | $0 | $0 | $9.0K | $3.0K | $15.0K | $26.0K | $75.0K | $96.0K | $60.0K | $18.0K | $18.0K | $290.0K | $-56.0K | |
| Investing Cash Flow | $4M | $-3M | $-2M | $0 | $0 | $19M | $-4M | $-5M | $-5M | $-5M | $94M | $195M | $89M | $-398M | $240M | $125M | |
| Financing Cash Flow | $0 | $303.0K | $-1.0K | $299.0K | $-1.0K | $543.0K | $-2.0K | $427.0K | $0 | $956.0K | $0 | $896.0K | $-305.0K | $2M | $417.0K | $2M | |
| Net Change in Cash | $17M | $-3M | $-19M | $-18M | $-3M | $-6M | $-16M | $-32M | $-32M | $-63M | $53M | $158M | $48M | $-426M | $206M | $75M | |
| Taxes Paid | · | · | · | · | · | · | · | $1M | $2M | $630.0K | · | $3M | $560.0K | $458.0K | · | $1M | |
| Free Cash Flow | · | $-988.0K | · | · | · | $-25M | · | · | · | $-60M | · | · | · | $-29M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -18.4% | -31.8% | · | -52.1% | -28.7% | -45.5% | · | -77.6% | -83.4% | -126.1% | · | -231.5% | -151.3% | -620.8% | · | -102.8% | |
| Net Margin | -19.1% | -19.8% | · | -57.5% | -27.8% | -28.0% | · | -71.2% | -79.5% | -121.1% | · | -220.3% | -148.1% | -621.4% | · | -101.3% | |
| Pretax Margin | -19.6% | -18.4% | · | -54.5% | -27.6% | -25.4% | · | -71.2% | -79.2% | -119.7% | · | -218.6% | -147.6% | -619.3% | · | -101.0% | |
| EBITDA Margin | -18.4% | -17.9% | · | -52.1% | -28.7% | -33.8% | · | -77.6% | -83.4% | -112.2% | · | -231.5% | -151.3% | -609.5% | · | -102.8% | |
| ROA | -2.8% | -2.9% | · | -7.7% | -4.4% | -3.9% | · | -7.8% | -7.8% | -10.3% | · | -14.6% | -8.9% | -35.9% | · | -5.2% | |
| ROE | -3.9% | -4.2% | · | -10.9% | -6.1% | -5.3% | · | -10.4% | -10.1% | -13.1% | · | -17.2% | -10.5% | -42.2% | · | -5.9% | |
| ROIC | -4.1% | -7.8% | · | -12.0% | -6.9% | -10.7% | · | -14.0% | -14.4% | -18.7% | · | -28.8% | -15.2% | -57.4% | · | -6.6% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.9 | 3.1 | · | 3.1 | 3.3 | 2.9 | · | 2.9 | 3.2 | 3.8 | · | 5.0 | 4.9 | 5.1 | · | 6.3 | |
| Quick Ratio | 2.7 | 2.8 | · | 3.0 | 3.1 | 2.8 | · | 2.7 | 3.0 | 3.6 | · | 4.7 | 4.6 | 4.9 | · | 6.0 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.0 | 0.9 | · | 0.8 | 1.1 | 0.9 | · | 0.9 | 1.0 | 0.9 | · | 1.3 | 1.3 | 1.2 | · | 1.6 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $13.07 | $13.65 | · | $15.62 | $17.56 | $18.62 | · | $22.02 | $24.33 | $1.38 | · | $1.75 | $2.20 | $2.48 | · | $3.94 | |
| Revenue / Share | $3.11 | $3.31 | · | $3.47 | $4.46 | $4.26 | · | $4.03 | $4.22 | $0.20 | · | $0.22 | $0.22 | $0.23 | · | $0.25 | |
| Cash Flow / Share | · | $-0.06 | · | · | · | $-1.60 | · | · | · | $-0.20 | · | · | · | $-0.10 | · | · | |
| Cash / Share | $11.58 | $10.76 | · | $12.31 | $13.62 | $14.09 | · | $16.00 | $18.51 | $1.04 | · | $1.11 | $0.57 | $0.40 | · | $1.21 | |
| EPS (TTM) | $-4.78 | $-5.43 | · | $-7.14 | $-8.01 | $-10.13 | · | $-41.18 | $-47.85 | $-51.02 | · | $-36.45 | $-27.16 | $-20.88 | · | $-0.94 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $219M | $237M | · | $265M | $270M | $262M | · | $254M | $255M | $255M | · | $268M | $275M | $277M | · | $271M | |
| Net Income TTM | $-78M | $-88M | · | $-113M | $-125M | $-155M | · | $-214M | $-307M | $-350M | · | $-688M | $-621M | $-598M | · | $-257M | |
| Market Cap | $154M | $88M | · | $100M | $143M | $124M | · | $145M | $97M | $4.80B | · | $6.72B | $11.93B | $13.25B | · | $19.76B | |
| P/E | -1.9 | -1.0 | · | -0.9 | -1.1 | -0.8 | · | -0.2 | -0.1 | -0.3 | · | -0.6 | -1.5 | -2.3 | · | -76.4 | |
| P/S | 0.7 | 0.4 | · | 0.4 | 0.5 | 0.5 | · | 0.6 | 0.4 | 18.9 | · | 25.1 | 43.4 | 47.8 | · | 73.0 | |
| P/B | 0.7 | 0.4 | · | 0.4 | 0.5 | 0.4 | · | 0.4 | 0.3 | 11.8 | · | 13.4 | 19.1 | 19.1 | · | 18.2 | |
| P / Tangible Book | 0.9 | 0.5 | · | 0.6 | 0.7 | 0.6 | · | 0.6 | 0.4 | 16.3 | · | 17.8 | 29.0 | 29.2 | · | 37.2 | |
| P / Cash Flow | · | -89.1 | · | · | · | -5.0 | · | · | · | -80.4 | · | · | · | -454.6 | · | · | |
| Earnings Yield | -52.4% | -103.2% | · | -116.1% | -90.1% | -128.6% | · | -434.4% | -736.2% | -314.6% | · | -155.8% | -64.7% | -44.2% | · | -1.3% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $249M | $254M | $259M | $277M | $253M |
| Operating Margin % | -42.2% | -85.5% | -267.2% | -99.5% | -70.9% |
| Net Income | $-96M | $-208M | $-675M | $-270M | $-176M |
| Diluted EPS | $-5.96 | $-13.88 | $-47.50 | $-19.72 | $-0.69 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 3.4 | 2.8 | 4.8 | 5.5 | 5.8 |
| Quick Ratio | 3.2 | 2.7 | 4.5 | 5.2 | 5.6 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-66M | $-127M | $-149M | $-193M | $-142M |
Institutional owners (13F) 63 filers · $66.2M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
63
Value held
$66.2M
New positions
9
Exited positions
9
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 9 (-5 vs prior Q) | 9 (-3 vs prior Q) | 19 (+1 vs prior Q) | 16 (+3 vs prior Q) | +945K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Senvest Management, LLC | $12,121,000 | 1,329,057 | 18.31% | Shares |
| MORGAN STANLEY | $11,659,273 | 1,278,429 | 17.61% | Shares |
| Cable Car Capital, LP | $9,144,168 | 1,002,650 | 13.81% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $5,574,682 | 611,259 | 8.42% | Shares |
| BlackRock, Inc. | $3,899,493 | 427,576 | 5.89% | Shares |
| VANGUARD GROUP INC | $3,007,919 | 612,611 | 4.54% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $2,400,594 | 263,223 | 3.63% | Shares |
| Russell Investments Group, Ltd. | $1,662,055 | 182,243 | 2.51% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,447,422 | 158,623 | 2.19% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,323,348 | 145,104 | 2.00% | Shares |
| JANE STREET GROUP, LLC | $1,288,492 | 141,282 | 1.95% | Shares |
| Rock Point Advisors, LLC | $1,225,354 | 134,359 | 1.85% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,117,306 | 122,501 | 1.69% | Shares |
| MARSHALL WACE, LLP | $985,480 | 108,057 | 1.49% | Shares |
| CITADEL ADVISORS LLC | $968,544 | 106,200 | 1.46% | Call option |
| VANGUARD FIDUCIARY TRUST CO | $832,319 | 91,263 | 1.26% | Shares |
| GOLDMAN SACHS GROUP INC | $745,368 | 81,729 | 1.13% | Shares |
| STATE STREET CORP | $516,183 | 56,599 | 0.78% | Shares |
| TAKEDA PHARMACEUTICAL CO LTD | $478,061 | 77,733 | 0.72% | Shares |
| Lotus Technology Management, LP | $456,000 | 50,000 | 0.69% | Shares |
| UBS Group AG | $442,475 | 48,517 | 0.67% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $437,660 | 47,989 | 0.66% | Shares |
| TWO SIGMA ADVISERS, LP | $430,362 | 87,650 | 0.65% | Shares |
| HSBC HOLDINGS PLC | $427,932 | 46,565 | 0.65% | Shares |
| HighTower Advisors, LLC | $343,204 | 37,632 | 0.52% | Shares |
| CITADEL ADVISORS LLC | $339,246 | 37,198 | 0.51% | Shares |
| NORTHERN TRUST CORP | $313,591 | 34,385 | 0.47% | Shares |
| CITADEL ADVISORS LLC | $279,984 | 30,700 | 0.42% | Put option |
| Ballentine Partners, LLC | $271,320 | 29,750 | 0.41% | Shares |
| Boston Partners | $267,950 | 29,381 | 0.40% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $222,528 | 24,400 | 0.34% | Call option |
| BARCLAYS PLC | $216,846 | 23,777 | 0.33% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $178,907 | 19,617 | 0.27% | Shares |
| WELLS FARGO & COMPANY/MN | $164,753 | 18,065 | 0.25% | Shares |
| Corton Capital Inc. | $147,477 | 23,980 | 0.22% | Shares |
| XTX Topco Ltd | $137,639 | 15,092 | 0.21% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $112,851 | 12,374 | 0.17% | Shares |
| IMC-Chicago, LLC | $112,477 | 12,333 | 0.17% | Shares |
| AMERICAN CENTURY COMPANIES INC | $94,000 | 10,307 | 0.14% | Shares |
| Trexquant Investment LP | $93,079 | 10,206 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $92,112 | 10,100 | 0.14% | Put option |
| SAPIENT CAPITAL LLC | $91,200 | 10,000 | 0.14% | Shares |
| Vanguard Global Advisers, LLC | $41,195 | 4,517 | 0.06% | Shares |
| JPMORGAN CHASE & CO | $36,298 | 3,903 | 0.05% | Shares |
| SIMPLEX TRADING, LLC | $15,914 | 1,745 | 0.02% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $11,555 | 1,267 | 0.02% | Shares |
| Leonteq Securities AG | $7,643 | 838 | 0.01% | Shares |
| Steward Partners Investment Advisory, LLC | $6,539 | 717 | 0.01% | Shares |
| ACADIAN ASSET MANAGEMENT LLC | $4,506 | 494,440 | 0.01% | Shares |
| NewEdge Advisors, LLC | $4,268 | 468 | 0.01% | Shares |
Company insiders 29 insiders · 20 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Ido Schoenberg | Chairman, co-CEO | May 7, 2026 P | 114,920 | 1 | 0 | $4,938 |
| Mark Hirschhorn | Chief Financial Officer | Sept. 1, 2026 S | 228,188 | 0 | 4 | $-328,355 |
| Robert Shepardson | Chief Financial Officer | Oct. 1, 2024 S | 112,116 | 0 | 0 | $0 |
| Keith Anderson | Chief Financial Officer | Aug. 13, 2021 S | 967,466 | 0 | 0 | $0 |
| Phyllis Gotlib | President, International | Sept. 1, 2026 S | 149,181 | 0 | 8 | $-240,411 |
| Kurt Knight | Chief Operating Officer | Dec. 2, 2024 S | 142,213 | 0 | 0 | $0 |
| Paul Francis Mcneice | Chief Accounting Officer | Sept. 1, 2026 S | 9,739 | 0 | 8 | $-15,566 |
| Dmitry Zamansky | Chief Product & Tech. Officer | July 1, 2026 S | 232,620 | 0 | 4 | $-152,231 |
| Roy Schoenberg | Executive Vice Chairman | Aug. 13, 2025 A | 133,302 | 0 | 0 | $0 |
| Vukasin Paunovich | EVP, Enterprise Platforms | Jan. 2, 2025 S | 116,121 | 0 | 0 | $0 |
| Kathy Johnson Weiler | Chief Comm. & Growth Officer | Dec. 2, 2024 S | 180,593 | 0 | 0 | $0 |
| Serkan Kutan | Chief Technology Officer | Feb. 1, 2023 S | 641,380 | 0 | 0 | $0 |
| Bradford Gay | Senior VP, General Counsel | Feb. 1, 2023 S | 736,053 | 0 | 0 | $0 |
| Amber Howe | Chief People Officer | Feb. 1, 2023 S | 295,964 | 0 | 0 | $0 |
| Timothy John Conway | Chief Information Officer | Oct. 24, 2022 A | 475,517 | 0 | 0 | $0 |
| Jason Medeiros | Chief Information Officer | Sept. 1, 2022 S | 537,647 | 0 | 0 | $0 |
| Matthew Mcallister | Chief Product Officer | Aug. 9, 2022 A | 391,840 | 0 | 0 | $0 |
| Brendan P. Ogrady | Chief Commercial & Growth Officer | June 1, 2022 S | 853,341 | 0 | 0 | $0 |
| Susan T Worthy | Chief Marketing Officer | May 12, 2022 A | 569,638 | 0 | 0 | $0 |
| Mary Modahl | Chief Marketing Officer | March 1, 2022 S | 472,815 | 0 | 0 | $0 |
| Rivka Goldwasser | Director | June 16, 2026 A | 105,861 | 0 | 0 | $0 |
| Robert Thomas Webb | Director | June 16, 2026 A | 72,559 | 0 | 0 | $0 |
| Derek Ross | Director | June 16, 2026 A | 71,183 | 0 | 0 | $0 |
| Delos M. Cosgrove | Director | June 16, 2026 A | 71,193 | 0 | 0 | $0 |
| Stephen J. Schlegel | Director | June 16, 2026 A | 69,054 | 0 | 1 | $-85,410 |
| Deborah C Jackson | Director | June 16, 2026 A | 53,633 | 0 | 2 | $-2,883 |
| Peter L. Slavin | Director | June 11, 2025 A | 56,561 | 0 | 0 | $0 |
| PATRICK DEVAL L | Director | June 22, 2023 A | 169,892 | 0 | 0 | $0 |
| Nazim Cetin | Director | June 15, 2021 A | 29,938 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 8 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IWC · iShares Trust | 0.04% | 49,434 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.00% | 8,618 SH | Oct. 1, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 48,865 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 1,254 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 1,474 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 169,382 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 427,294 SH | Aug. 19, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 1,112 NS | July 31, 2026 | N-PORT |
AMWL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 15 analysts
BUY
Median target
$12.00
-3.1%
2 13.3%
Strong Buy
4 26.7%
Buy
9 60.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-10-01Mean target $12.80 +3.3%
Now
Current price $12.39
Low$11.00
Mean$12.80
High$16.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AMWL | $81M | -0.8 | -2.0% | -38.4% | -35.4% | · |
| EVH | · | -0.8 | -26.6% | -28.5% | -81.5% | · |
| SLP | $285M | -4.4 | 13.1% | -81.7% | -41.2% | 58.4% |
| CTEV | $708M | -2.5 | 3.7% | -29.4% | 265.9% | · |
| OPRX | $230M | 45.4 | 18.8% | 4.7% | 4.2% | 67.2% |
| LFMD | $159M | 13.6 | 25.3% | 7.4% | 204.0% | 85.7% |
| DH | · | -2.2 | -4.2% | -57.5% | -28.2% | 75.9% |
| HCAT | · | -0.9 | 1.5% | · | · | · |
| VEEV | $33.40B | 37.5 | 16.3% | 28.4% | 13.1% | 75.5% |
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Source: SEC 10-Q filed Aug 4, 2026