Filing Flows › American Well (AMWL) › Q1 2026
American Well (AMWL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
American Well (AMWL) reported revenue of $54.9M for the first quarter 2026 (Q1 2026), -18% from a year earlier and -0.8% from the quarter before. Operating margin was -31.7%, net loss $10.3M (18.8% of revenue).
American Well, Q1 2026: revenue $54.9M (-18% year over year), operating margin -31.7%, net loss $10.3M, operating cash flow −$983K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $54.9M | -0.8% | -18% |
| Operating profit | −$17.4M | — | — |
| Net earnings | −$10.3M | — | — |
| Operating cash flow | −$983K | — | — |
What changed
Revenue was $54.9M in Q1 2026, down 18% year over year and down 1% from the previous quarter. Visits was the largest line at 53% of revenue. Platform Subscription lost $7.3M year over year (down 23%), 61% of the total change.
Operating costs exceeded revenue by $17.4M, an operating margin of -31.7%. Total costs fell 26% while revenue fell 18%. The quarter ended with a net loss of $10.3M, narrower than the previous quarter's $25.2M loss. Non-operating items added $7.3M, -73% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$1.0M. Non-cash charges added back $7.6M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $579K. Capital expenditures of $5K exceeded it, leaving free cash flow of −$1.0M.
Questions
What was American Well's revenue in the first quarter 2026?
American Well (AMWL) reported revenue of $54.9M for the first quarter 2026 (Q1 2026), -18% from a year earlier and -0.8% from the quarter before.
Was American Well profitable in the first quarter 2026?
Operating loss was $17.4M (-31.7% of revenue) and net loss $10.3M.
Source: American Well 10-Q on SEC EDGAR.