Filing Flows › American Well (AMWL) › Q1 2025
American Well (AMWL) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
American Well (AMWL) reported revenue of $66.8M for the first quarter 2025 (Q1 2025), +12% from a year earlier and -6% from the quarter before. Operating margin was -45.5%, net loss $18.4M (27.5% of revenue).
American Well, Q1 2025: revenue $66.8M (+12% year over year), operating margin -45.5%, net loss $18.4M, operating cash flow −$25.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $66.8M | -6% | +12% |
| Operating profit | −$30.4M | — | — |
| Net earnings | −$18.4M | — | — |
| Operating cash flow | −$25.1M | — | — |
What changed
Revenue was $66.8M in Q1 2025, up 12% year over year and down 6% from the previous quarter. Platform Subscription was the largest line at 48% of revenue. Platform Subscription added $7.4M year over year (up 30%), 101% of the total change. Visits declined 14%.
Operating costs exceeded revenue by $30.4M, an operating margin of -45.5%. Total costs fell 28% while revenue rose 12%. The quarter ended with a net loss of $18.4M, narrower than the previous quarter's $44.6M loss. Non-operating items added $12.6M, -71% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$25.1M. Non-cash charges added back $7.8M of depreciation and amortization and $7.3M of share-based compensation. Working capital and other items used $21.9M. Capital expenditures of $9K exceeded it, leaving free cash flow of −$25.1M.
Questions
What was American Well's revenue in the first quarter 2025?
American Well (AMWL) reported revenue of $66.8M for the first quarter 2025 (Q1 2025), +12% from a year earlier and -6% from the quarter before.
Was American Well profitable in the first quarter 2025?
Operating loss was $30.4M (-45.5% of revenue) and net loss $18.4M.
Source: American Well 10-Q on SEC EDGAR.