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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 276,908 $ 372,038
Accounts receivable ($92 and $1,626, from related parties and net of allowances of $902 and $2,291, respectively) 76,086 54,146
Inventories 5,573 6,652
Deferred contract acquisition costs 2,329 2,262
Prepaid expenses and other current assets 17,278 14,484
Total current assets 378,174 449,582
Restricted cash 795 795
Property and equipment, net 491 572
Intangible assets, net 111,223 120,248
Operating lease right-of-use asset 8,814 10,453
Deferred contract acquisition costs, net of current portion 5,158 4,792
Other assets 1,973 2,083
Investment in minority owned joint venture (Note 2) 1,195 1,180
Total assets 507,823 589,705
Current liabilities:    
Accounts payable 5,915 4,864
Accrued expenses and other current liabilities 44,089 38,988
Operating lease liability, current 3,625 3,580
Deferred revenue ($489 and $1,286 from related parties, respectively) 64,271 46,365
Total current liabilities 117,900 93,797
Other long-term liabilities 1,415 1,425
Operating lease liability, net of current portion 6,363 8,206
Deferred revenue, net of current portion 4,276 6,091
Total liabilities 129,954 109,519
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 June 30, 2024 and as of December 31, 2023
Common stock, $0.01 par value; 1,000,000,000 Class A shares authorized, 13,308,758 and 12,776,608 shares issued and outstanding, respectively; 100,000,000 Class B shares authorized, 1,369,518 shares issued and outstanding; 200,000,000 Class C shares authorized 277,777 issued and outstanding as of June 30, 2024 and as of December 31, 2023 151 145
Additional paid-in capital 2,264,518 2,237,502
Accumulated other comprehensive income (20,961) (15,650)
Accumulated deficit (1,879,803) (1,757,778)
Total American Well Corporation stockholders’ equity 363,905 464,219
Non-controlling interest 13,964 15,967
Total stockholders’ equity 377,869 480,186
Total liabilities and stockholders’ equity $ 507,823 $ 589,705