American Well Corporation filed its quarterly report on Form 10-Q with the SEC on November 3, 2026, covering the three and nine months ended September 30, 2026, disclosing continued operating losses alongside a significant reduction in total costs compared to the prior-year period.

Key Highlights

  • Q3 2026 revenue: $48,991 thousand, down from $56,286 thousand in Q3 2025, according to the filing.
  • Q3 2026 net loss attributable to American Well Corporation: $11,361 thousand, compared to $32,378 thousand in the same quarter of 2025.
  • Nine-month net loss per share: $(1.91) basic and diluted, versus $(4.44) for the nine months ended September 30, 2025.
  • Total assets as of September 30, 2026: $309,216 thousand, down from $323,787 thousand at December 31, 2025.
  • Accumulated deficit: $2,093,803 thousand as of September 30, 2026, compared to $2,061,628 thousand at December 31, 2025.
  • Cash and cash equivalents: $180,786 thousand at September 30, 2026, versus $182,328 thousand at December 31, 2025.
  • Nine-month net gain on divestiture: $7,027 thousand, compared to $8,713 thousand for the nine months ended September 30, 2025.

American Well Corporation Q3 2026 Financial Results: Costs Fall, Losses Narrow Year Over Year

According to the filing, American Well Corporation (NYSE:AMWL) reported third-quarter 2026 revenue of $48,991 thousand, a decrease from $56,286 thousand in the third quarter of 2025. For the nine months ended September 30, 2026, revenue totaled $155,922 thousand, compared to $194,017 thousand for the same period in 2025. The company attributed a portion of revenue to related parties: $28 thousand and $642 thousand for the three and nine months ended September 30, 2026, respectively.

Total costs and operating expenses for Q3 2026 were $60,645 thousand, compared to $85,618 thousand in Q3 2025, the filing disclosed. This reduction was reflected across all expense categories: costs of revenue fell to $23,032 thousand from $26,779 thousand; research and development dropped to $9,595 thousand from $18,582 thousand; sales and marketing declined to $7,285 thousand from $9,078 thousand; and general and administrative expenses decreased to $15,493 thousand from $21,736 thousand. Depreciation and amortization expense was $5,240 thousand in Q3 2026 versus $9,443 thousand in Q3 2025. The resulting loss from operations for Q3 2026 was $11,654 thousand, narrowing from $29,332 thousand in Q3 2025.

The condensed consolidated balance sheet as of September 30, 2026, showed total stockholders' equity of $225,166 thousand, compared to $247,788 thousand at December 31, 2025. As of October 23, 2026, the filing reported 15,572,979 shares of Class A common stock outstanding, 1,369,518 shares of Class B common stock outstanding, and 277,777 shares of Class C common stock outstanding. The company is classified as an accelerated filer and a smaller reporting company, as indicated in the filing.

What Was Disclosed

American Well Corporation filed its Form 10-Q for the quarter ended September 30, 2026, disclosing revenue, operating losses, balance sheet data, and share counts. The filing covers unaudited condensed consolidated financial statements for both the three-month and nine-month periods.