American Well Corporation (AMWL) Revenue History
Annual and quarterly revenue from 2018 to 2025
Compound Annual Growth Rate (CAGR)
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AMWL Revenue Growth
Revenue Breakdown (FY 2025)
AMWL's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
AMWL Revenue Analysis (2018–2025)
As of May 8, 2026, American Well Corporation (AMWL) generated trailing twelve-month (TTM) revenue of $182.5 million, reflecting significant decline in growth of -100.0% year-over-year. The most recent quarter (Q1 2026) recorded $0 in revenue, down 100.0% sequentially.
Looking at the longer-term picture, AMWL's 5-year compound annual growth rate (CAGR) stands at +0.3%, indicating moderate growth over time. The company achieved its highest annual revenue of $277.2 million in 2022.
Revenue diversification analysis shows AMWL's business is primarily driven by Platform Subscription (53%), Visits (38%), and Others (9%). With over half of revenue concentrated in Platform Subscription, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including TDOC (-1.5% YoY), DOCS (+15.9% YoY), and HIMS (+59.0% YoY), AMWL has underperformed the peer group in terms of revenue growth. Compare AMWL vs TDOC →
AMWL Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AMWLCurrent | $182M | -100.0% | +0.3% | -42.2% | |
 TDOC | $2.5B | -1.5% | +18.3% | -10.4% | |
 DOCS | $570M | +15.9% | +37.4% | 39.9% | |
 HIMS | $2.3B | +59.0% | +73.6% | 5.2% | |
 OPRX | $109M | +18.8% | +20.4% | 10.7% | |
 TALK | $229M | +22.0% | +24.6% | 1.4% |
AMWL Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $249.3M | -2.0% | $132.9M | 53.3% | $-105,274,000 | -42.2% |
| 2024 | $254.4M | -1.8% | $99.0M | 38.9% | $-217,534,000 | -85.5% |
| 2023 | $259.0M | -6.5% | $94.8M | 36.6% | $-692,143,000 | -267.2% |
| 2022 | $277.2M | +9.7% | $116.8M | 42.1% | $-275,853,000 | -99.5% |
| 2021 | $252.8M | +3.1% | $104.3M | 41.3% | $-179,146,000 | -70.9% |
| 2020 | $245.3M | +64.8% | $88.5M | 36.1% | $-227,431,000 | -92.7% |
| 2019 | $148.9M | +30.6% | $68.9M | 46.3% | $-94,704,000 | -63.6% |
| 2018 | $114.0M | - | $55.3M | 48.6% | $-55,106,000 | -48.4% |
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Start ComparisonAMWL — Frequently Asked Questions
Quick answers to the most common questions about buying AMWL stock.
Is AMWL's revenue growth accelerating or slowing?
AMWL revenue declined -100.0% year-over-year, contrasting with the 5-year CAGR of +0.3%. TTM revenue fell to $182M. This reverses the prior growth trend.
What is AMWL's long-term revenue growth rate?
American Well Corporation's 5-year revenue CAGR of +0.3% reflects the variable expansion pattern. Current YoY growth of -100.0% is below this long-term average.
How is AMWL's revenue distributed by segment?
AMWL reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2018-2025 are available for download. Segment mix reveals concentration and diversification trends.