Balance Sheet American Well Corporation

Equities

AMWL

US03044L2043

Healthcare Facilities & Services

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09-04	Transcript : American Well Corporation Presents at Morgan Stanley 22nd Annual Global Healthcare Conference, Sep-04-2024 01:50 PM
07-31	Transcript : American Well Corporation, Q2 2024 Earnings Call, Jul 31, 2024

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Published financial data: AMERICAN WELL CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	149M	245M	253M	277M	259M
Total Revenues	149M	245M	253M	277M	259M
Cost of Goods Sold, Total	79.98M	157M	148M	160M	164M
Gross Profit	68.88M	88.48M	104M	117M	94.76M
Selling General & Admin Expenses, Total	100M	221M	168M	222M	209M
R&D Expenses	53.94M	84.41M	107M	138M	106M
Depreciation & Amortization - (IS)	7.76M	10.15M	16.09M	26.15M	31.49M
Other Operating Expenses, Total	162M	316M	291M	387M	346M
Operating Income	-93.21M	-227M	-187M	-270M	-251M
Interest And Investment Income	5.54M	1.63M	120K	6.12M	19.43M
Net Interest Expenses	5.54M	1.63M	120K	6.12M	19.43M
Income (Loss) On Equity Invest.	-	-2.19M	-3.13M	-2.28M	-2.59M
Currency Exchange Gains (Loss)	-	-	-	-	-11K
EBT, Excl. Unusual Items	-87.68M	-228M	-190M	-266M	-234M
Merger & Related Restructuring Charges	-1.49M	-	-3.93M	-	-
Impairment of Goodwill	-	-	-	-	-436M
Legal Settlements	-	-	-2.18M	-5.58M	-
Other Unusual Items	-	-	13.7M	-	-4.41M
EBT, Incl. Unusual Items	-89.17M	-228M	-182M	-272M	-675M
Income Tax Expense	-803K	639K	-5.38M	64K	3.86M
Earnings From Continuing Operations	-88.37M	-229M	-177M	-272M	-679M
Net Income to Company	-88.37M	-229M	-177M	-272M	-679M
Minority Interest	1.18M	4.19M	448K	1.64M	4.01M
Net Income - (IS)	-87.19M	-224M	-176M	-270M	-675M
Net Income to Common Incl Extra Items	-87.19M	-224M	-176M	-270M	-675M
Net Income to Common Excl. Extra Items	-87.19M	-224M	-176M	-270M	-675M
Per Share Items
Net EPS - Basic	-42.39	-45.32	-13.88	-19.72	-47.5
Basic EPS - Continuing Operations	-42.39	-45.32	-13.88	-19.72	-47.5
Basic Weighted Average Shares Outstanding	2.06M	4.95M	12.7M	13.71M	14.21M
Net EPS - Diluted	-42.39	-45.32	-13.88	-19.72	-47.5
Diluted EPS - Continuing Operations	-42.39	-45.32	-13.88	-19.72	-47.5
Diluted Weighted Average Shares Outstanding	2.06M	4.95M	12.7M	13.71M	14.21M
Normalized Basic EPS	-26.07	-27.93	-9.3	-12.02	-10.03
Normalized Diluted EPS	-26.07	-27.93	-9.3	-12.02	-10.03
Supplemental Items
EBITDA	-85.45M	-217M	-171M	-244M	-226M
EBITA	-87.22M	-219M	-173M	-246M	-227M
EBIT	-93.21M	-227M	-187M	-270M	-251M
EBITDAR	-78.8M	-211M	-165M	-239M	-222M
Effective Tax Rate - (Ratio)	0.9	-0.28	2.95	-0.02	-0.57
Current Domestic Taxes	-	97K	41K	22K	404K
Current Foreign Taxes	-	448K	828K	3.26M	3.61M
Total Current Taxes	-	545K	869K	3.28M	4.02M
Deferred Domestic Taxes	-	124K	-5.73M	-	-
Deferred Foreign Taxes	-	-30K	-516K	-3.21M	-158K
Total Deferred Taxes	-	94K	-6.24M	-3.21M	-158K
Normalized Net Income	-53.62M	-138M	-118M	-165M	-143M
Supplemental Operating Expense Items
Advertising Expense	6.11M	3.86M	5.6M	6.61M	5.51M
Selling and Marketing Expenses	47.67M	55.1M	66.15M	81.63M	82.05M
General and Administrative Expenses	52.72M	166M	102M	141M	127M
Research And Development Expense From Footnotes	53.94M	84.41M	107M	138M	112M
Net Rental Expense, Total	6.65M	6.63M	5.62M	4.97M	4.29M
Stock-Based Comp., COGS (Total)	536K	1.09M	1.66M	1.6M	1.68M
Stock-Based Comp., R&D Exp. (Total)	1.48M	4.79M	7.61M	10.24M	10.35M
Stock-Based Comp., S&M Exp. (Total)	2.42M	4.15M	7.67M	7.18M	8.61M
Stock-Based Comp., G&A Exp. (Total)	7.7M	108M	26.88M	50.12M	51.4M
Stock-Based Comp., Other (Total)	-	-	-	-	206K
Total Stock-Based Compensation	12.14M	118M	43.81M	69.14M	72.25M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	138M	942M	746M	539M	372M
Short Term Investments	39.95M	99.96M	-	-	-
Total Cash And Short Term Investments	178M	1.04B	746M	539M	372M
Accounts Receivable, Total	32.73M	45.3M	51.38M	58.37M	54.15M
Notes Receivable	1.78M	-	-	-	-
Total Receivables	34.51M	45.3M	51.38M	58.37M	54.15M
Inventory	3.1M	9.13M	7.53M	8.74M	6.65M
Prepaid Expenses	7.16M	14.06M	20.28M	19.57M	14.48M
Restricted Cash	-	1.1M	-	-	-
Other Current Assets, Total	1.13M	2.13M	1.7M	1.39M	2.26M
Total Current Assets	224M	1.11B	827M	627M	450M
Gross Property Plant And Equipment	24.2M	22.19M	30.4M	26.69M	23.82M
Accumulated Depreciation	-9.6M	-11.74M	-11.74M	-12.17M	-12.8M
Net Property Plant And Equipment	14.61M	10.44M	18.66M	14.52M	11.02M
Long-term Investments	-	752K	168K	-	1.18M
Goodwill	194M	194M	443M	435M	-
Other Intangibles, Total	63.54M	55.53M	152M	135M	120M
Accounts Receivable Long-Term	-	-	781K	-	-
Deferred Charges Long-Term	1.64M	1.33M	2.03M	3.39M	4.79M
Other Long-Term Assets, Total	2.7M	1.43M	1.74M	2.77M	2.88M
Total Assets	500M	1.38B	1.45B	1.22B	590M
Liabilities
Accounts Payable, Total	6.5M	5.8M	12.16M	7.24M	4.86M
Accrued Expenses, Total	17.76M	42.14M	43.71M	54.26M	38.99M
Current Portion of Leases	6.23M	6.36M	1.92M	3.06M	3.58M
Unearned Revenue Current, Total	66.49M	66.69M	68.84M	49.5M	46.36M
Other Current Liabilities	9.59M	-	15M	-	-
Total Current Liabilities	107M	121M	142M	114M	93.8M
Long-Term Leases	7.16M	1.3M	14.69M	11.79M	8.21M
Unearned Revenue Non Current	10.9M	8.11M	7.06M	6.29M	6.09M
Other Non Current Liabilities	309K	64K	21.59M	1.57M	1.42M
Total Liabilities	125M	130M	185M	134M	110M
Preferred Stock Convertible	656M	-	-	-	-
Total Preferred Equity	656M	-	-	-	-
Common Stock, Total	50K	2.36M	2.62M	2.77M	2.88M
Additional Paid In Capital	50.66M	1.84B	2.05B	2.16B	2.23B
Retained Earnings	-358M	-582M	-811M	-1.08B	-1.76B
Treasury Stock	-158K	-37.57M	-	-	-
Comprehensive Income and Other	250K	297K	-6.35M	-16.97M	-15.65M
Total Common Equity	-307M	1.22B	1.24B	1.06B	464M
Minority Interest	26.26M	22.06M	21.62M	19.97M	15.97M
Total Equity	375M	1.25B	1.26B	1.08B	480M
Total Liabilities And Equity	500M	1.38B	1.45B	1.22B	590M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	43.31M	11.91M	13.17M	13.88M	14.46M
ECS Total Common Shares Outstanding	42.3M	11.78M	13.09M	13.86M	14.42M
Book Value / Share	-7.26	103.91	94.65	76.78	32.18
Tangible Book Value	-565M	975M	644M	494M	344M
Tangible Book Value Per Share	-13.35	82.74	49.19	35.62	23.85
Total Debt	13.4M	7.65M	16.61M	14.84M	11.79M
Net Debt	-164M	-1.03B	-730M	-524M	-360M
Debt Equivalent Oper. Leases	53.19M	53.06M	44.94M	39.74M	34.34M
Minority Interest, Total (Incl. Fin. Div)	26.26M	22.06M	21.62M	19.97M	15.97M
Equity Method Investments, Total	-	752K	168K	-	1.18M
Account Code - Inventory Valuation	5	5	5	5	5
Machinery, Total	5.77M	13.42M	13.28M	12.49M	7.55M
Full Time Employees	686	812	1.04K	1.12K	1.1K
Accumulated Allowance for Doubtful Accounts (Supple)	686K	1.56M	1.81M	1.88M	2.29M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-87.19M	-224M	-176M	-270M	-675M
Depreciation & Amortization - CF	1.77M	2.15M	2.16M	1.53M	651K
Amortization of Goodwill and Intangible Assets - (CF)	5.99M	8.01M	13.93M	24.64M	24.61M
Depreciation & Amortization, Total	7.76M	10.15M	16.09M	26.17M	25.26M
Amortization of Deferred Charges, Total - (CF)	1.77M	2.26M	2.71M	2.3M	8.95M
Asset Writedown & Restructuring Costs	-	-	-	-	436M
(Income) Loss On Equity Investments - (CF)	-	2.19M	3.13M	2.28M	2.59M
Stock-Based Compensation (CF)	12.14M	118M	43.81M	67.68M	72.25M
Provision and Write-off of Bad Debts	717K	1.65M	714K	806K	1.06M
Other Operating Activities, Total	-2.56M	-4.19M	-3.94M	6.97M	-4.25M
Change In Accounts Receivable	803K	-14.21M	-512K	-8.14M	3.25M
Change In Inventories	-592K	-6.02M	1.6M	-1.21M	2.08M
Change In Accounts Payable	1.16M	-707K	5.55M	-4.78M	-2.36M
Change in Unearned Revenues	-16.15M	-2.17M	-9.37M	-19.74M	-3.46M
Change in Other Net Operating Assets	260K	4.67M	-24.98M	5.77M	-15.02M
Cash from Operations	-81.89M	-112M	-142M	-192M	-148M
Capital Expenditure	-1.34M	-3.32M	-559K	-292K	-192K
Cash Acquisitions	-45.75M	-	-157M	-	-
Sale (Purchase) of Intangible assets	-	-	-	-10.16M	-15.06M
Investment in Marketable and Equity Securities, Total	167M	-63.44M	97.45M	-1.18M	-3.92M
Cash from Investing	120M	-66.76M	-59.63M	-11.63M	-19.17M
Issuance of Common Stock	1.04M	878M	22.4M	8.24M	2.73M
Repurchase of Common Stock	-158K	-37.57M	-15.04M	-360K	-586K
Issuance of Preferred Stock	45.76M	147M	-	-	-
Repurchase of Preferred Stock	-	-	-	-	-
Other Financing Activities, Total	-	-4.3M	-1.61M	-11.5M	-
Cash from Financing	46.64M	983M	5.75M	-3.61M	2.15M
Foreign Exchange Rate Adjustments	-	-	-84K	-305K	-1.14M
Net Change in Cash	84.75M	804M	-196M	-208M	-167M
Supplemental Items
Cash Income Tax Paid (Refund)	193K	713K	1.59M	1.72M	5M
Levered Free Cash Flow	-27.35M	-26.22M	-38.75M	-118M	-76.08M
Unlevered Free Cash Flow	-27.35M	-26.22M	-38.75M	-118M	-76.08M
Change In Net Working Capital	-10.58M	11.53M	-15.91M	35.9M	10.26M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-11.78	-15.15	-8.27	-12.68	-17.38
Return on Total Capital	-15.34	-17.31	-9.22	-14.22	-19.74
Return On Equity %	-23.68	-28.21	-14.1	-23.21	-86.85
Return on Common Equity	32.35	-48.95	-14.32	-23.48	-88.37
Margin Analysis
Gross Profit Margin %	46.27	36.07	41.27	42.13	36.58
SG&A Margin	67.44	90.25	66.6	80.24	80.56
EBITDA Margin %	-57.4	-88.59	-67.51	-88.07	-87.24
EBITA Margin %	-58.59	-89.46	-68.36	-88.62	-87.49
EBIT Margin %	-62.62	-92.73	-73.87	-97.51	-96.99
Income From Continuing Operations Margin %	-59.36	-93.22	-69.93	-98.15	-262.18
Net Income Margin %	-58.57	-91.51	-69.76	-97.56	-260.63
Net Avail. For Common Margin %	-58.57	-91.51	-69.76	-97.56	-260.63
Normalized Net Income Margin	-36.02	-56.39	-46.74	-59.48	-55.01
Levered Free Cash Flow Margin	-18.37	-10.69	-15.33	-42.45	-29.37
Unlevered Free Cash Flow Margin	-18.37	-10.69	-15.33	-42.45	-29.37
Asset Turnover
Asset Turnover	0.3	0.26	0.18	0.21	0.29
Fixed Assets Turnover	16.83	19.58	17.37	16.71	20.28
Receivables Turnover (Average Receivables)	4.69	6.29	5.23	5.05	4.6
Inventory Turnover (Average Inventory)	28.48	25.64	17.83	19.72	21.35
Short Term Liquidity
Current Ratio	2.1	9.2	5.84	5.49	4.79
Quick Ratio	1.97	8.98	5.63	5.23	4.54
Operating Cash Flow to Current Liabilities	-0.77	-0.93	-1	-1.69	-1.58
Days Sales Outstanding (Average Receivables)	77.86	58.22	69.79	72.26	79.27
Days Outstanding Inventory (Average Inventory)	12.82	14.28	20.48	18.51	17.09
Average Days Payable Outstanding	24.3	13.83	22.31	21.9	13.61
Cash Conversion Cycle (Average Days)	66.37	58.67	67.96	68.87	82.75
Long Term Solvency
Total Debt/Equity	3.57	0.61	1.32	1.37	2.45
Total Debt / Total Capital	3.45	0.61	1.3	1.35	2.4
LT Debt/Equity	1.91	0.1	1.17	1.09	1.71
Long-Term Debt / Total Capital	1.84	0.1	1.15	1.07	1.67
Total Liabilities / Total Assets	25	9.48	12.79	10.98	18.57
Total Debt / EBITDA	-0.17	-0.04	-0.1	-0.06	-0.05
Net Debt / EBITDA	2.08	4.91	4.42	2.19	1.62
Total Debt / (EBITDA - Capex)	-0.17	-0.04	-0.1	-0.06	-0.05
Net Debt / (EBITDA - Capex)	2.05	4.83	4.41	2.19	1.62
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	30.63	64.77	3.07	9.65	-6.55
Gross Profit, 1 Yr. Growth %	24.46	28.45	17.9	11.94	-18.85
EBITDA, 1 Yr. Growth %	75.86	154.28	-21.33	45.92	-7.42
EBITA, 1 Yr. Growth %	73.77	151.58	-21.12	44.97	-7.73
EBIT, 1 Yr. Growth %	72.87	144	-17.77	47.39	-7.04
Earnings From Cont. Operations, 1 Yr. Growth %	68.92	158.73	-22.68	53.9	149.63
Net Income, 1 Yr. Growth %	65.53	157.41	-21.43	53.36	149.66
Normalized Net Income, 1 Yr. Growth %	65.93	157.92	-14.44	42.08	-13.57
Diluted EPS Before Extra, 1 Yr. Growth %	63.29	6.92	-69.37	42.08	140.87
Accounts Receivable, 1 Yr. Growth %	6.34	38.39	13.42	13.62	-7.24
Inventory, 1 Yr. Growth %	23.57	194.07	-17.51	16.03	-23.86
Net Property, Plant and Equip., 1 Yr. Growth %	374.75	-28.5	78.62	-22.17	-24.08
Total Assets, 1 Yr. Growth %	2.16	175.39	5.03	-15.79	-51.57
Tangible Book Value, 1 Yr. Growth %	36.19	-272.66	-33.92	-23.36	-30.32
Common Equity, 1 Yr. Growth %	32.47	-498.58	1.24	-14.15	-56.37
Cash From Operations, 1 Yr. Growth %	10.66	37.33	25.85	35.88	-22.87
Capital Expenditures, 1 Yr. Growth %	-29.98	147.98	-83.15	-47.76	-34.25
Levered Free Cash Flow, 1 Yr. Growth %	-	-4.15	49.06	221.01	-35.33
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-4.15	49.06	221.01	-35.33
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	46.71	30.32	6.31	1.23
Gross Profit, 2 Yr. CAGR %	-	26.44	23.06	14.88	-4.69
EBITDA, 2 Yr. CAGR %	-	111.46	41.32	6.08	21.3
EBITA, 2 Yr. CAGR %	-	109.08	40.76	5.89	20.63
EBIT, 2 Yr. CAGR %	-	105.38	41.54	9.16	21.69
Earnings From Cont. Operations, 2 Yr. CAGR %	-