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American Well AMWL Operating margin

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Other financials

Income statement

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Revenue$54.9M-17.9%
Gross profit$28.0M-20.7%
Operating income-$17.4M+42.7%
Net income-$10.9M+41.8%
EPS (diluted)-$0.66+44.5%

Balance sheet

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Cash & equivalents$179.2M-19.4%
Total debt$4.0M-45.7%
Total equity$227.3M-22.7%
Total assets$326.0M-22.3%

Cash flow

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Operating cash flow-$983.0K+96.1%
CapEx$5.0K-44.4%
Free cash flow-$988.0K+96.1%

Valuation

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Market cap$154.55M+29.3%
Enterprise value-$20.69M-77.8%
P/S0.7×+0.2×

Profitability

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Gross margin52.9%+8.6pp
Net margin-37%-10.1pp
FCF margin-17.6%-5.9pp

Returns & leverage

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Return on equity-33.7%-6.4pp
Debt / equity0.0×
Current ratio3.1×+0.2×

Where this comes from

Calculated from American Well’s reported figures.

Based on trailing twelve months.

The official record: American Well’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is American Well's operating margin?
American Well (AMWL) reported operating margin of -38.9% in Q1 2026.
How has American Well's operating margin changed year-over-year?
American Well's operating margin increased by 41.2% year-over-year, from -66.1% to -38.9%.
What is the long-term trend for American Well's operating margin?
Over 5 years (2020 to 2025), American Well's operating margin has grown at a -14.6% compound annual growth rate (CAGR), from -92.7% to -42.2%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.