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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 308,599 $ 372,038
Accounts receivable ($1,627 and $1,626, from related parties and net of allowances of $3,092 and $2,291, respectively) 80,709 54,146
Inventories 6,578 6,652
Deferred contract acquisition costs 2,301 2,262
Prepaid expenses and other current assets 16,010 14,484
Total current assets 414,197 449,582
Restricted cash 795 795
Property and equipment, net 552 572
Intangible assets, net 114,338 120,248
Operating lease right-of-use asset 9,632 10,453
Deferred contract acquisition costs, net of current portion 5,107 4,792
Other assets 1,793 2,083
Investment in minority owned joint venture (Note 2) 1,969 1,180
Total assets 548,383 589,705
Current liabilities:    
Accounts payable 6,710 4,864
Accrued expenses and other current liabilities 39,035 38,988
Operating lease liability, current 3,602 3,580
Deferred revenue ($852 and $1,286 from related parties, respectively) 59,079 46,365
Total current liabilities 108,426 93,797
Other long-term liabilities 1,412 1,425
Operating lease liability, net of current portion 7,292 8,206
Deferred revenue, net of current portion 7,895 6,091
Total liabilities 125,025 109,519
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Preferred stock, $0.01 par value; 100,000,000 shares authorized, no shares issued or outstanding as of March 31, 2024 and as of December 31, 2023
Common stock, $0.01 par value; 1,000,000,000 Class A shares authorized, 263,158,793 and 255,542,545 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, 2024 and as of December 31, 2023 2,956 2,879
Additional paid-in capital 2,251,875 2,234,768
Accumulated other comprehensive income (16,213) (15,650)
Accumulated deficit (1,829,883) (1,757,778)
Total American Well Corporation stockholders’ equity 408,735 464,219
Non-controlling interest 14,623 15,967
Total stockholders’ equity 423,358 480,186
Total liabilities and stockholders’ equity $ 548,383 $ 589,705