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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 112,887 $ 538,546
Investments 394,309  
Accounts receivable ($1,700 and $2,597, from related parties and net of allowances of $2,069 and $1,884, respectively) 55,871 58,372
Inventories 8,438 8,737
Deferred contract acquisition costs 1,472 1,394
Prepaid expenses and other current assets 15,275 19,567
Total current assets 588,252 626,616
Restricted cash 795 795
Property and equipment, net 719 1,012
Goodwill 106,707 435,279
Intangible assets, net 135,401 134,980
Operating lease right-of-use asset 12,609 13,509
Deferred contract acquisition costs, net of current portion 3,645 3,394
Other assets 2,199 1,972
Investment in minority owned joint venture (Note 2) 178  
Total assets 850,505 1,217,557
Current liabilities:    
Accounts payable 7,050 7,236
Accrued expenses and other current liabilities 39,922 54,258
Operating lease liability, current 3,011 3,057
Deferred revenue ($1,232 and $1,665 from related parties, respectively) 65,607 49,505
Total current liabilities 115,590 114,056
Other long-term liabilities 1,611 1,574
Operating lease liability, net of current portion 10,850 11,787
Deferred revenue, net of current portion ($7 and $10 from related parties, respectively) 8,178 6,289
Total liabilities 136,229 133,706
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock, $0.01 par value; 100,000,000 shares authorized, no shares issued or outstanding as of March 31, 2023 and as of December 31, 2022
Common stock, $0.01 par value; 1,000,000,000 Class A shares authorized, 247,762,793 and 244,193,727 shares issued and outstanding, respectively; 100,000,000 Class B shares authorized, 27,390,397 shares issued and outstanding; 200,000,000 Class C shares authorized 5,555,555 issued and outstanding as of March 31, 2023 and as of December 31, 2022 2,801 2,766
Additional paid-in capital 2,182,627 2,160,108
Accumulated other comprehensive income (10,588) (16,969)
Accumulated deficit (1,479,717) (1,082,028)
Total American Well Corporation stockholders’ equity 695,123 1,063,877
Non-controlling interest 19,153 19,974
Total stockholders’ equity 714,276 1,083,851
Total liabilities and stockholders’ equity $ 850,505 $ 1,217,557