On this page of StockholderLetter.com we present the 4/28/2023 shareholder letter from American Well Corp — ticker symbol AMWL. Reading current and past AMWL letters to shareholders can bring important insights into the investment thesis.

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13 1 7 511$ 2 6 3 669 3 97 9 6 31$ 9 5 1 9 2 1 1 519 9 7123123 6 3912 7 9
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6 6 356 @913 6 1329 615
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# 3 6 36 1 96 13 231 36 6 13DD 2 1363 2 '29 6 !!! 6 925 2 1259 91 2 6 13
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6 93 91 962 631 36 136 92 2 51 2 1259 7635

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•

4/28/2023 Letter Continued (Full PDF)
•

4/26/2024 AMWL Stockholder Letter
•

4/23/2025 AMWL Stockholder Letter
•

More "Business Services & Equipment" Category Stockholder Letters
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AMWL Benford's Law Stock Score = 90

AMWL 4/28/2023 Shareholder/Stockholder Letter Transcript:

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7  8 216


0123415567896 6513 
 6 2    1  6 3 1 996 6 2   6 3 2  5 1   1 13    6 393  92  92   6  63 6 3    6392  6   1 12 
96 1913 71 93  196 21 1259 231 6312  632 512  2 1    5196255     512 1 9631 639929! 72 2    6392 92 
 93291   123 63" 7155 #  2  51 15   972 2   31  51 123  13255 1 2 2 6  2  2  1$1 91 7155  2   
 12      5 36 31    91932   9 6 96%6  13 1& 6 3 6 97231 529 63 92971 15 1 17 551 2 512  1  671391  9 316 
  3  231  1 2 1  91 3291  25 2 51 12  632512592  2 96 291 231 36 32    966 3 529 63 2  231763   
56 15 7 96 35 1 9 2   239 13 9651 132 191 25 1 1 13291  36 %6  13 1236  91 363 2  '29 6   ()(*+,--./01
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7 9 1259   91  7 6231 3 63 9 '       925231  6313962  1 1   6392 9 625 236   315 1     92    3 6 9   312    
3191 9 6   17 6 31 6 31 1  12   9312 5     763 567   1    6392  1  321 29 1 9 7 96 32 96 291  36 32   
1  2    91 96   36 16 96 1   11 2 51 615 6 231929255676 35 1 9 96    131 9 29191 367 2  362 96 231 
"5692  2  1   91 2 9 17 123  = 13  2     12 7 9 1259 231    93 51213 7 6231 93   5   96     
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9   29 2 239 137 6 2    996 1913  135     6 97231   32 93 9 312  5   25 1 9 329 1 962 2 191 3 625  "9
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# 32  362 9691 2319 19   2 239  1231293  91  239 13  11 2 512  1  67136 35 1 9 96 15  13 172  1$ 9   
72  96 36  1 2317  512  1       6392 96 1329 6 25 625  
# 3 3 63 9 1  63 !A231 5123 
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2  1 56  1 9  63 2 135 1 9  2 125312  1    
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91 1523 12  6  51$ 1 56  1 9  717 55 36  12      1$2  51 635 1 9 2   36  19 6 255  '1 7 6
566 96   63 239 13    1 2 51 1 92  2 151329 6 6 91 3    925231 15  13  52   
B 4  255  6 3   9 231 196   3     91931 1 6  6  639   9 967   17 5 1 9 236  91 2 132   36  13
    13 1 7  511$ 2    6 3 669 3  97 9  6 31$  9    5 1 9 2 1  1 519   9   7123123    6 3912  7 9
 6713  5 17 155   9665 961 2 5191 251   256  1 2  712311 29   6 3912  96 2 913911 913 3  151 15 
 65 9 6  @ 2 1  155   1   36  1 971231   
" 71  3  191 1   9 29  1  71231  39131  67131     67   91 23 763 6  !    1      2  71 2 12  1 1 2
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6 6 356  @913 6 1329    615 
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# 3    6    36  1      96 13    231 36 6 13DD 2 1363 2  '29 6    !!! 6   925 2  1259   91  2  6 13
E!! !!!29  1 36  13  
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         929   1 963  2 7155 6  # 3=8F 36 32      9  1        92 1    971 2 125312  1 9   1 " 7155  9311
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2  15  132 529 63 9296  19 2  1  6713 91 1259 231    93  71231   5   2 36  9@63 1 91  3679     1  929
6 93   91 962 631 36  136      92  2 51 2  1259 7635 

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543  6416561 67    1  2 5 6 543 56  4 1  4 3 5 4 6114  6    3  2 4716  64155  617 4  43   4
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4/28/2023 Letter Continued (Full PDF)

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AMWL 4/28/2023 Shareholder/Stockholder Letter Transcript:

AMWL Stockholder/Shareholder Letter (American Well Corp) 4/28/2023 | www.StockholderLetter.com Copyright © 2023 - 2026, All Rights Reserved

AMWL Stockholder/Shareholder Letter (American Well Corp) 4/28/2023 | www.StockholderLetter.com
Copyright © 2023 - 2026, All Rights Reserved