Company: AMWL
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000950170-25-019024
Chunk: 245

Company: American Well Corp
Filing Date: 2025-02-12
Form: 10-K
Item: Item 7
Chunk 245
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. Therefore, the Company accounts for its investments in CCAW, JV LLC using the equity method of accounting. 

During the years ended December 31, 2024 and 2023, the Company recognized a loss of $3.1 million and $2.6 million as its proportionate share of the joint venture results of operations, respectively.

Liquidity and Capital Resources 

The following table presents a summary of our cash flow activity for the periods set forth below: 

    Years December 31,

    2024

    2023

    2022

    Consolidated Statements of Cash Flows Data:

    Net cash used in operating activities
     
    $
    (127,338
    )
     
    $
    (148,343
    )
     
    $
    (192,323
    )

    Net cash used in investing activities

    (18,652
    )

    (19,168
    )

    (11,630
    )

    Net cash provided by (used in) financing activities

    1,381

    2,147

    (3,612
    )

    Total
     
    $
    (144,609
    )
     
    $
    (165,364
    )
     
    $
    (207,565
    )

Sources of Financing 

Our principal sources of liquidity were cash and cash equivalents totaling $228.3 million as of December 31, 2024, which were held for a variety of growth initiatives and investments as well as working capital purposes. Our cash and cash equivalents are comprised of money market funds. 

As shown in the accompanying consolidated financial statements, the Company incurred a loss from operations of $217.5 million and a net loss of $212.6 million for year ended December 31, 2024 and had an accumulated deficit of $1,965.9 million as of December 31, 2024. 

The Company has no debt as of December 31, 2024 and expects to generate operating losses in future years.

We believe that our existing cash and cash equivalents will be sufficient to meet our working capital and capital expenditure needs for at least the next 12 months from the issuance date of the financial statements. Our future capital requirements will depend on many factors including our growth rate, contract renewal activity, number of consultations on our enterprise platform, the timing and extent of spending to support product development efforts, our expansion of sales and marketing activities, the