Filing Flows › American Well (AMWL) › Q2 2025
American Well (AMWL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
American Well (AMWL) reported revenue of $70.9M for the second quarter 2025 (Q2 2025), +13% from a year earlier and +6% from the quarter before. Operating margin was -28.7%, net loss $19.5M (27.5% of revenue).
American Well, Q2 2025: revenue $70.9M (+13% year over year), operating margin -28.7%, net loss $19.5M, operating cash flow −$4.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $70.9M | +6% | +13% |
| Operating profit | −$20.4M | — | — |
| Net earnings | −$19.5M | — | — |
| Operating cash flow | −$4.7M | — | — |
What changed
Revenue was $70.9M in Q2 2025, up 13% year over year and up 6% from the previous quarter. Platform Subscription was the largest line at 57% of revenue. Platform Subscription added $13.0M year over year (up 47%), 160% of the total change. Visits declined 21%.
Operating costs exceeded revenue by $20.4M, an operating margin of -28.7%. Total costs fell 21% while revenue rose 13%. The quarter ended with a net loss of $19.5M, wider than the previous quarter's $18.4M loss.
Operating cash flow was −$4.7M. Non-cash charges added back $8.2M of depreciation and amortization and $6.0M of share-based compensation. Working capital and other items added $573K.
Questions
What was American Well's revenue in the second quarter 2025?
American Well (AMWL) reported revenue of $70.9M for the second quarter 2025 (Q2 2025), +13% from a year earlier and +6% from the quarter before.
Was American Well profitable in the second quarter 2025?
Operating loss was $20.4M (-28.7% of revenue) and net loss $19.5M.
Source: American Well 10-Q on SEC EDGAR.