Filing Flows › American Well (AMWL) › Q3 2026 › vs Q3 2025
American Well (AMWL) Q3 2026 vs Q3 2025 (year over year)
American Well's revenue fell $7.3M (-13%) from $56.3M in Q3 2025 to $49.0M in Q3 2026. The biggest changes: Platform Subscription −$7.0M (-23%); Others −$2.8M (-67%); Visits +$2.5M (+12%).
American Well, Q3 2026: revenue $49.0M (-13% year over year), operating margin -23.8%, net loss $11.0M, operating cash flow −$11.7M. The chart draws each line against Q3 2025, the increases inside each band.
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Platform Subscription | $23.9M | $30.9M | −$7.0M | -23% |
| Visits | $23.7M | $21.2M | $2.5M | +12% |
| Others | $1.4M | $4.2M | −$2.8M | -67% |
| Revenue | $49.0M | $56.3M | −$7.3M | -13% |
| Other income, net | $1.5M | −$1.4M | $2.8M | — |
| Net loss | $11.0M | $31.9M | −$21.0M | -66% |
| Costs & expenses | $61.4M | $88.2M | −$26.8M | -30% |
| Operating costs | $60.6M | $85.6M | −$25.0M | -29% |
| Income tax | $769K | $1.2M | −$448K | -37% |
| Cost of revenue | $23.0M | $26.8M | −$3.7M | -14% |
| Research & development | $9.6M | $18.6M | −$9.0M | -48% |
| Sales & marketing | $7.3M | $9.1M | −$1.8M | -20% |
| General & admin | $15.5M | $21.7M | −$6.2M | -29% |
| Other operating costs | $5.2M | $9.4M | −$4.2M | -45% |
| Operating cash sources | $19.2M | $32.3M | −$13.1M | -40% |
| Depreciation & amortization | $5.2M | $9.4M | −$4.2M | -45% |
| Share-based compensation | $2.3M | $4.1M | −$1.8M | -43% |
| Cash used in operations | $11.7M | $18.8M | −$7.1M | -38% |
| Net loss absorbed | $11.0M | $31.9M | −$21.0M | -66% |
| Working capital & other | $8.3M | $380K | $7.9M | 22× |
Questions
How much did American Well's revenue grow year over year in Q3 2026?
American Well's revenue fell $7.3M (-13%) from $56.3M in Q3 2025 to $49.0M in Q3 2026.
What drove American Well's revenue change in Q3 2026?
Platform Subscription −$7.0M (-23%); Others −$2.8M (-67%); Visits +$2.5M (+12%).