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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 244,647 $ 372,038
Accounts receivable ($749 and $1,626, from related parties and net of allowances of $1,056 and $2,291, respectively) 89,264 54,146
Inventories 4,761 6,652
Deferred contract acquisition costs 2,391 2,262
Prepaid expenses and other current assets 15,814 14,484
Total current assets 356,877 449,582
Restricted cash 795 795
Property and equipment, net 424 572
Intangible assets, net 108,875 120,248
Operating lease right-of-use asset 8,012 10,453
Deferred contract acquisition costs, net of current portion 5,198 4,792
Other assets 2,312 2,083
Investment in minority owned joint venture (Note 2) 493 1,180
Total assets 482,986 589,705
Current liabilities:    
Accounts payable 8,150 4,864
Accrued expenses and other current liabilities 47,908 38,988
Operating lease liability, current 3,658 3,580
Deferred revenue ($61 and $1,286 from related parties, respectively) 62,457 46,365
Total current liabilities 122,173 93,797
Other long-term liabilities 1,500 1,425
Operating lease liability, net of current portion 5,440 8,206
Deferred revenue, net of current portion 3,823 6,091
Total liabilities 132,936 109,519
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 September 30, 2024 and as of December 31, 2023
Common stock, $0.01 par value; 1,000,000,000 Class A shares authorized, 13,640,114 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 September 30, 2024 and as of December 31, 2023 153 145
Additional paid-in capital 2,275,543 2,237,502
Accumulated other comprehensive income (15,765) (15,650)
Accumulated deficit (1,923,268) (1,757,778)
Total American Well Corporation stockholders’ equity 336,663 464,219
Non-controlling interest 13,387 15,967
Total stockholders’ equity 350,050 480,186
Total liabilities and stockholders’ equity $ 482,986 $ 589,705