American Well Corp (AMWL) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 05, 2026

Risk Assessment Details

Potential Dilution: 26.78% of current shares
Recent Dilution: 27.95% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
15M
Potential Supply
4M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

AMWL currently has 15.1M outstanding shares. with moderate dilution risk from 4.03M authorized shares representing 26.8% potential dilution. The company has significantly diluted shareholders by 27.95% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 05, 2026

10-Q filing | 15.1M shares outstanding

15M 4M
Nov 04, 2025

10-Q filing | 14.7M shares outstanding

15M 4M
Aug 05, 2025

10-Q filing | 15.9M shares outstanding

16M 4M
May 01, 2025

10-Q filing | 14.2M shares outstanding

14M 4M
Feb 12, 2025

10-K filing | 15.0M shares outstanding

15M 4M
Oct 30, 2024

10-Q filing | 13.7M shares outstanding

14M 4M
Jul 31, 2024

10-Q filing | 13.3M shares outstanding

13M 4M
Jul 10, 2024
Stock Split

8-K filing: Stock split 1-for-20 | Outstanding: 263,517,164 → 13,175,858

13M 4M
May 01, 2024

10-Q filing | 263.5M shares outstanding

260M 81M
Feb 15, 2024

10-K filing | 254.1M shares outstanding

250M 81M
Nov 01, 2023

10-Q filing | 254.6M shares outstanding

250M 81M
Aug 02, 2023

10-Q filing | 251.7M shares outstanding

250M 81M
May 03, 2023

10-Q filing | 247.9M shares outstanding

250M 81M
Feb 23, 2023

10-K filing | 244.6M shares outstanding

240M 81M
Nov 08, 2022

10-Q filing | 242.5M shares outstanding

240M 81M
Aug 05, 2022

10-Q filing | 240.6M shares outstanding

240M 81M
May 17, 2022

8-K filing: American Well Corporation issued 4,959,856 shares of Class A common stock to former shareholders of SilverCloud Health Holdings, Inc. in lieu of an Earn-Out Payment.

230M 81M
May 10, 2022

10-Q filing | 233.4M shares outstanding

230M 81M
Feb 28, 2022

10-K filing | 230.4M shares outstanding

230M 81M
Nov 12, 2021

10-Q filing | 227.5M shares outstanding

230M 81M
Aug 12, 2021

10-Q filing | 210.7M shares outstanding

210M 81M
May 13, 2021

10-Q filing | 208.8M shares outstanding

210M 81M
Mar 26, 2021

10-K filing | 206.1M shares outstanding

210M 81M
Jan 12, 2021

S-1 filing: This is an S-1 filing describing the company's initial public offering of Class A common stock at $18.00 per share and a private placement of convertible preferred stock. It also details the company's financial performance and liquidity.

200M 81M
Nov 13, 2020

10-Q filing | 199.6M shares outstanding

200M 35M
Sep 22, 2020

8-K filing: The company completed its initial public offering of 45,681,499 shares of Class A common stock at $18.00 per share on September 21, 2020, and certain selling shareholders sold 1,724,056 shares of common stock.

N/A 35M
Sep 16, 2020

S-1/A filing: This S-1/A filing is a preliminary prospectus for an initial public offering of Class A common stock. The company is offering 35,000,000 shares with an anticipated price between $14.00 and $16.00 per share. Google LLC has agreed to purchase $100 million of Class C common stock in a private placement concurrent with the offering.

N/A 35M
Sep 08, 2020

S-1/A filing: The filing is for an initial public offering of 35,000,000 shares of Class A common stock with an expected price between $14.00 and $16.00 per share. Google LLC has agreed to purchase $100 million of Class C common stock in a private placement concurrent with the offering.

N/A 35M
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