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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 228,316 $ 372,038
Accounts receivable ($616 and $1,626, from related parties and net of allowances of $7,236 and $2,291, respectively) 71,885 54,146
Inventories 2,858 6,652
Deferred contract acquisition costs 2,513 2,262
Prepaid expenses and other current assets 11,421 14,484
Total current assets 316,993 449,582
Restricted cash 795 795
Property and equipment, net 376 572
Intangibles assets, net 101,538 120,248
Operating lease right-of-use asset 7,203 10,453
Deferred contract acquisition costs, net of current portion 5,350 4,792
Other assets 2,213 2,083
Investment in minority owned joint venture (Note 2) 1,500 1,180
Total assets 435,968 589,705
Current liabilities:    
Accounts payable 5,015 4,864
Accrued expenses and other current liabilities 49,326 38,988
Operating lease liability, current 3,690 3,580
Deferred revenue ($198 and $1,286 from related parties, respectively) 53,232 46,365
Total current liabilities 111,263 93,797
Other long-term liabilities 1,170 1,425
Operating lease liability, net of current portion 4,511 8,206
Deferred revenue, net of current portion ($10 and $0 from related parties, respectively) 2,780 6,091
Total liabilities 119,724 109,519
Commitments and contingencies (Note 14)
Stockholders’ equity:    
Preferred stock, $0.01 par value; 100,000,000 shares authorized, no shares issued or outstanding as of December 31, 2024 and as of December 31, 2023
Common stock, $0.01 par value; 1,000,000,000 Class A shares authorized, 13,922,877 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 December 31, 2024 and as of December 31, 2023 156 145
Additional paid-in capital 2,286,380 2,237,502
Accumulated other comprehensive income (loss) (15,840) (15,650)
Accumulated deficit (1,965,924) (1,757,778)
Total American Well Corporation stockholders’ equity 304,772 464,219
Non-controlling interest 11,472 15,967
Total stockholders’ equity 316,244 480,186
Total liabilities and stockholders’ equity $ 435,968 $ 589,705