Quick Answer
American Well Corp reported R&D Expense of $72.86 million for fiscal year 2025.
American Well Corp R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $72.86M | -15.3% |
| 2024 | $86.06M | -18.7% |
| 2023 | $105.83M | -23.6% |
| 2022 | $138.49M | +29.9% |
| 2021 | $106.59M | +26.3% |
| 2020 | $84.41M | +56.5% |
| 2019 | $53.94M | +48.7% |
| 2018 | $36.27M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $18.58M | -6.1% | +1.9% |
| June 30, 2025 | $18.24M | -12.3% | -17.5% |
| March 31, 2025 | $22.10M | -17.2% | +11.6% |
| September 30, 2024 | $19.80M | -28.6% | -4.8% |
| June 30, 2024 | $20.81M | -19.5% | -22.0% |
| March 31, 2024 | $26.68M | +2.9% | -3.7% |
| September 30, 2023 | $27.71M | -23.6% | +7.2% |
| June 30, 2023 | $25.84M | -30.3% | -0.3% |
- American Well Corp showed a decrease of -15.3% in R&D Expense compared to the prior fiscal year.
- Over the 2018–2025 period, American Well Corp’s r&d expense has grown by 100.9% (from $36.27 million to $72.86 million).
- The most recent figure is from American Well Corp’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 12, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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