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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 319,373 $ 538,546
Investments 98,717  
Accounts receivable ($91 and $2,597, from related parties and net of allowances of $1,944 and $1,884, respectively) 46,713 58,372
Inventories 7,832 8,737
Deferred contract acquisition costs 1,929 1,394
Prepaid expenses and other current assets 14,275 19,567
Total current assets 488,839 626,616
Restricted cash 795 795
Property and equipment, net 576 1,012
Goodwill   435,279
Intangible assets, net 125,889 134,980
Operating lease right-of-use asset 11,247 13,509
Deferred contract acquisition costs, net of current portion 3,598 3,394
Other assets 2,164 1,972
Investment in minority owned joint venture (Note 2) 1,893  
Total assets 635,001 1,217,557
Current liabilities:    
Accounts payable 4,823 7,236
Accrued expenses and other current liabilities 37,378 54,258
Operating lease liability, current 3,402 3,057
Deferred revenue ($154 and $1,665 from related parties, respectively) 53,076 49,505
Total current liabilities 98,679 114,056
Other long-term liabilities 1,586 1,574
Operating lease liability, net of current portion 9,086 11,787
Deferred revenue, net of current portion ($0 and $10 from related parties, respectively) 5,954 6,289
Total liabilities 115,305 133,706
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 September 30, 2023 and as of December 31, 2022
Common stock, $0.01 par value; 1,000,000,000 Class A shares authorized, 254,038,177 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 September 30, 2023 and as of December 31, 2022 2,864 2,766
Additional paid-in capital 2,222,152 2,160,108
Accumulated other comprehensive income (13,552) (16,969)
Accumulated deficit (1,709,191) (1,082,028)
Total American Well Corporation stockholders’ equity 502,273 1,063,877
Non-controlling interest 17,423 19,974
Total stockholders’ equity 519,696 1,083,851
Total liabilities and stockholders’ equity $ 635,001 $ 1,217,557