# Vsee Health, Inc.: overview
VSEE · CIK 1864531 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31
Pages: [Overview](/companies/vsee.md) · [Financials](/companies/vsee/financials.md) · [Filings](/companies/vsee/filings.md) · [Insiders](/companies/vsee/insiders.md)
Latest reported revenue: [$1.6m](/filings/0001185185-26-003549.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 14, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001185185-26-003549).
## Last eight quarters
| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $k | [3,354](/filings/0001185185-25-001744.md) | [3,734 d](/filings/0001185185-26-001202.md) | [3,321](/filings/0001185185-26-001883.md) | [1,055](/filings/0001185185-26-003549.md) | [3,981](/filings/0001185185-25-001744.md) | [3,926 d](/filings/0001185185-26-001202.md) | [3,160](/filings/0001185185-26-001883.md) | [1,562](/filings/0001185185-26-003549.md) |
| Gross margin | % | [83.0%](/filings/0001185185-25-001744.md) | [63.8% d](/filings/0001185185-26-001202.md) | [56.0%](/filings/0001185185-26-001883.md) | [58.3%](/filings/0001185185-26-003549.md) | [52.1%](/filings/0001185185-25-001744.md) | [46.7% d](/filings/0001185185-26-001202.md) | [37.9%](/filings/0001185185-26-001883.md) | [13.2%](/filings/0001185185-26-003549.md) |
| Operating margin | % | [(1737.8%)](/filings/0001185185-25-001744.md) | [(81.1%) d](/filings/0001185185-26-001202.md) | [(55.1%)](/filings/0001185185-26-001883.md) | [(147.5%)](/filings/0001185185-26-003549.md) | [(51.7%)](/filings/0001185185-25-001744.md) | [(87.6%) d](/filings/0001185185-26-001202.md) | [(94.1%)](/filings/0001185185-26-001883.md) | [(172.7%)](/filings/0001185185-26-003549.md) |
| Net margin | % | [(1607.5%)](/filings/0001185185-25-001744.md) | [(85.9%) d](/filings/0001185185-26-001202.md) | [(119.2%)](/filings/0001185185-26-001883.md) | [(247.7%)](/filings/0001185185-25-001818.md) | [(7.3%)](/filings/0001185185-25-001744.md) | [(200.0%) d](/filings/0001185185-26-001202.md) | [(82.3%)](/filings/0001185185-26-001883.md) | [(111.7%) d](/filings/0001185185-26-003549.md) |
| Diluted EPS | $ per share | [(3.58)](/filings/0001185185-25-001744.md) | not reported | [(0.24)](/filings/0001185185-26-001883.md) | [(0.16)](/filings/0001185185-25-001818.md) | [(0.02)](/filings/0001185185-25-001744.md) | not reported | [(0.05)](/filings/0001185185-26-001883.md) | not reported |
| Free cash flow | $k | [(226) d](/filings/0001185185-25-001744.md) | [(2,979) d](/filings/0001185185-26-001202.md) | [(452)](/filings/0001185185-26-001883.md) | [(336) d](/filings/0001185185-26-003549.md) | [(777) d](/filings/0001185185-25-001744.md) | [(1,933) d](/filings/0001185185-26-001202.md) | [(2,479)](/filings/0001185185-26-001883.md) | [(1,247) d](/filings/0001185185-26-003549.md) |
- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.
## Last five fiscal years
| Line item | Unit | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: |
| Revenue | $m | not reported | [5.8](/filings/0001558370-25-011815.md) | [10.4](/filings/0001185185-26-001202.md) | [14.6](/filings/0001185185-26-001202.md) |
| Gross margin | % | not reported | [66.5%](/filings/0001558370-25-011815.md) | [68.9%](/filings/0001185185-26-001202.md) | [50.3%](/filings/0001185185-26-001202.md) |
| Operating margin | % | not reported | [(32.5%)](/filings/0001558370-25-011815.md) | [(596.4%)](/filings/0001185185-26-001202.md) | [(65.6%)](/filings/0001185185-26-001202.md) |
| Net margin | % | not reported | [(65.3%)](/filings/0001558370-25-011815.md) | [(553.7%)](/filings/0001185185-26-001202.md) | [(100.6%)](/filings/0001185185-26-001202.md) |
| Diluted EPS | $ per share | [(0.25)](/filings/0001104659-24-046607.md) | [(0.38)](/filings/0001558370-25-011815.md) | [(5.65)](/filings/0001185185-26-001202.md) | [(0.73)](/filings/0001185185-26-001202.md) |
| Free cash flow | $m | not reported | [(0.6)](/filings/0001558370-25-011815.md) | [(5.8)](/filings/0001185185-26-001202.md) | [(3.5)](/filings/0001185185-26-001202.md) |
- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.
Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.
## Insider purchases and sales
The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/vsee/insiders.md)
None in coverage.
## Funds that report holding it
From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)
| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Linden Advisors LP](/funds/1279396.md) | 2026-06-30 | $17.2k | 500,000 | | Unchanged |
| [MMCAP International Inc. SPC](/funds/1304857.md) | 2026-06-30 | $15.2k | 500,000 | | Unchanged |
| [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $11.7k | 365,000 | | Unchanged |
| [BOOTHBAY FUND MANAGEMENT, LLC](/funds/1549230.md) | 2026-06-30 | $10.1k | 87,179 | | Unchanged |
| [Clear Street Group Inc.](/funds/1881567.md) | 2026-06-30 | $9.7k | 320,203 | | Unchanged |
| [Alberta Investment Management Corp](/funds/1463559.md) | 2026-06-30 | $7.6k | 250,000 | | Unchanged |
| [Saba Capital Management, L.P.](/funds/1510281.md) | 2026-06-30 | $7.4k | 243,249 | | Unchanged |
| [WHITEBOX ADVISORS LLC](/funds/1257391.md) | 2026-06-30 | $7.0k | 232,500 | | Unchanged |
| [Quad-Cities Investment Group, LLC](/funds/1741426.md) | 2026-06-30 | $3.7k | 121,000 | | Unchanged |
| [StoneX Group Inc.](/funds/913760.md) | 2026-06-30 | $3.2k | 97,275 | | Added +64,850 |
## Recent filings
[All 288 filings](/companies/vsee/filings.md)
| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-01 | 21:29 ET | [S-1](/filings/0001185185-26-004518.md) | Registration statement | 0001185185-26-004518 |
| 2026-09-30 | 20:15 ET | [8-K](/filings/0001185185-26-004440.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 3.02 Unregistered sale of equity; 9.01 Financial statements and exhibits | 0001185185-26-004440 |
| 2026-09-23 | 20:10 ET | [8-K](/filings/0001185185-26-004244.md) | 5.03 Amendment to articles or bylaws; 9.01 Financial statements and exhibits | 0001185185-26-004244 |
| 2026-09-09 | 20:10 ET | [8-K](/filings/0001185185-26-003896.md) | 1.01 Entry into a material agreement; 3.02 Unregistered sale of equity; 9.01 Financial statements and exhibits | 0001185185-26-003896 |
| 2026-08-31 | 20:10 ET | [8-K](/filings/0001185185-26-003768.md) | 5.02 Departure or appointment of officers or directors | 0001185185-26-003768 |
| 2026-08-26 | 20:10 ET | [8-K](/filings/0001185185-26-003729.md) | 5.07 Shareholder vote results | 0001185185-26-003729 |
| 2026-08-14 | 20:12 ET | [10-Q](/filings/0001185185-26-003549.md) | Quarterly report, period 2026-06-30 | 0001185185-26-003549 |
| 2026-08-04 | 21:20 ET | [8-K](/filings/0001185185-26-003262.md) | 3.01 Delisting notice | 0001185185-26-003262 |
| 2026-07-31 | 20:31 ET | [8-K](/filings/0001185185-26-003211.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 3.02 Unregistered sale of equity; 9.01 Financial statements and exhibits | 0001185185-26-003211 |
| 2026-07-24 | 20:30 ET | [8-K](/filings/0001185185-26-003124.md) | 1.01 Entry into a material agreement; 3.02 Unregistered sale of equity | 0001185185-26-003124 |
## Latest annual report
[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001185185-26-001202.md), filed Mar 31, 2026.
## Forecast league
Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/6d43ce67-074c-4e64-a6dc-a20a940dd2d4)
## About the filer
- CIK: 1864531
- Tickers: VSEE, VSEED, VSEEW
- Exchange: not reported
- SIC code: 8000 Services-Health Services
- State of incorporation: DE
- Filer category: Non-accelerated filer
Smaller reporting company
Emerging growth company
Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:49 ET. No prices; not investment advice.