Complete Filing Data
VSEE HEALTH, INC. reported Net Income Loss of -$57.70 million for FY2024.
All values from 10-K, 20-F, and 10-Q filings on SEC EDGAR, organized by financial statement. Scroll each table horizontally for the full history. Blank cells mean VSEE HEALTH, INC. did not report that metric for that period in XBRL — often because accounting standards changed which tag a company files under (for example, most companies moved revenue to the ASC-606 tag in 2018), so a metric may continue in a different row. Rows marked * merge those successor tags into one continuous series, preferring the audited value from the newest-standard tag where periods overlap.
Income Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Net Income * | -$14.7M | -$57.7M | -$3.8M | -$3.2M |
| Cost of Revenue * | $7.3M | $3.2M | $1.9M | |
| Operating Income Loss | -$9.6M | -$62.2M | -$1.9M | -$3.6M |
| Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest | -$14.6M | -$59.3M | -$1.9M | -$3.1M |
| Nonoperating Income Expense | -$5.1M | $2.8M | -$13.4K | $539.7K |
| General And Administrative Expense | $10.0M | $6.6M | $1.2M | |
| Operating Expenses | $16.9M | $69.3M | $5.7M | |
| Income Tax Expense Benefit | $68.4K | -$1.6M | $1.8M | $187.2K |
| Gross Profit | $7.4M | $7.2M | $3.8M | |
| Revenue From Contract With Customer Excluding Assessed Tax | $14.6M | $10.4M | $5.8M | |
| Interest Expense Nonoperating | $2.8M | $211.5K | $191.3K | |
| Net Income Loss Attributable To Noncontrolling Interest | $37.5K | |||
| Other Nonoperating Income Expense | $47.4K | $504.00 | -$20.1K | |
| Deferred Income Tax Expense Benefit | $51.8K | -$1.7M | $1.9M | |
| Goodwill Impairment Loss | $0.00 | $56.7M |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income * | -$289.7K | -$2.6M | -$4.0M | -$53.9M | -$634.1K | $62.8K | -$189.8K | -$503.3K | -$530.0K | -$820.8K | -$659.5K | -$527.4K | -$180.00 | -$5.0K | $0.00 |
| Cost of Revenue * | $1.9M | $1.8M | $1.5M | $569.7K | $934.6K | $386.3K | $478.4K | $474.3K | |||||||
| Operating Income Loss | -$2.1M | -$2.3M | -$1.8M | -$58.3M | -$932.5K | $104.1K | -$353.1K | -$689.8K | -$715.9K | -$1.1M | -$722.2K | -$543.2K | -$180.00 | -$5.0K | |
| Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest | -$289.7K | -$2.6M | -$3.9M | -$53.9M | -$2.3M | $94.8K | -$411.0K | -$681.7K | -$717.6K | -$737.7K | -$659.5K | -$527.4K | -$180.00 | ||
| Nonoperating Income Expense | $1.8M | -$354.1K | -$2.1M | $4.4M | -$1.4M | -$9.3K | -$57.9K | $8.2K | -$1.2M | $391.6K | $62.7K | $15.8K | -$5.0K | ||
| General And Administrative Expense | $2.9M | $2.2M | $2.0M | $2.2M | $568.5K | $210.8K | $284.8K | $386.3K | $341.2K | $543.2K | |||||
| Operating Expenses | $4.1M | $3.8M | $3.7M | $61.1M | $1.7M | $1.1M | $1.3M | $1.5M | $1.7M | ||||||
| Income Tax Expense Benefit | $0.00 | $4.5K | $13.5K | $8.8K | -$1.7M | $0.00 | -$233.7K | -$174.4K | $83.0K | $0.00 | |||||
| Gross Profit | $2.1M | $1.6M | $1.9M | $2.8M | $777.0K | $1.2M | $954.3K | $797.2K | $1.0M | ||||||
| Revenue From Contract With Customer Excluding Assessed Tax | $4.0M | $3.4M | $3.3M | $3.4M | $1.7M | $1.6M | $1.4M | $1.3M | $1.6M | ||||||
| Interest Expense Nonoperating | $755.9K | $240.6K | $730.7K | $115.4K | $341.8K | $9.3K | $36.3K | $79.9K | |||||||
| Net Income Loss Attributable To Noncontrolling Interest | $0.00 | $0.00 | -$32.0K | $32.0K | $12.5K | -$4.0K | -$4.8K | ||||||||
| Other Nonoperating Income Expense | -$5.00 | $167.5K | $15.5K | -$2.00 | $2.00 | $0.00 | |||||||||
| Deferred Income Tax Expense Benefit | |||||||||||||||
| Goodwill Impairment Loss | $0.00 | $56.7M |
Balance Sheet
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Stockholders Equity * | $5.5M | -$18.5K | -$4.3M | -$574.1K | -$3.3M |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $5.3M | $326.1K | $118.7K | $230.7K | $760.0K |
| Retained Earnings Accumulated Deficit | -$82.4M | -$67.7M | -$10.0M | -$6.2M | -$3.3M |
| Liabilities | $17.0M | $20.0M | $5.1M | $7.7M | $4.6M |
| Accounts Payable And Accrued Liabilities Current | $11.5M | $9.3M | $2.6M | $1.9M | $140.2K |
| Liabilities Current | $16.2M | $19.0M | $5.1M | $3.3M | $184.1K |
| Assets Current | $8.4M | $3.0M | $802.1K | $107.0K | $1.2M |
| Assets | $22.4M | $20.0M | $805.8K | $7.6M | $117.9M |
| Liabilities And Stockholders Equity | $22.4M | $20.0M | $805.8K | $7.6M | $117.9M |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect | $4.9M | $207.4K | -$111.9K | -$653.0K | |
| Cash And Cash Equivalents At Carrying Value | $5.3M | $326.1K | $118.7K | $107.0K | $760.0K |
| Common Stock Value | $3.3K | $1.6K | $464.00 | $347.00 | $344.00 |
| Prepaid Expense And Other Assets Current | $273.7K | $446.8K | $79.9K | ||
| Accounts Receivable Net Current | $2.5M | $1.7M | $603.5K | $389.5K | |
| Other Liabilities Current | $51.9K | $51.9K | $338.5K | $43.9K | |
| Contract With Customer Liability Current | $1.3M | $417.8K | $902.5K | ||
| Amortization Of Debt Discount Premium | $0.00 | $7.0K | $93.7K | ||
| Gains Losses On Extinguishment Of Debt | -$221.2K | -$646.0K | $42.4K | ||
| Deferred Offering Costs Noncurrent | $4.4M | $4.4M | |||
| Assets Held In Trust Noncurrent | $7.5M | $116.7M | |||
| Property Plant And Equipment Net | $332.6K | $680.2K | $3.7K | ||
| Repayments Of Related Party Debt | $0.00 | $47.8K | $21.1K | ||
| Goodwill | $4.9M | $4.9M | |||
| Allowance For Doubtful Accounts Receivable Current | $835.0K | $2.4M | $32.5K | ||
| Common Stock Issuance Obligation Current | $18.9K | $69.6K | |||
| Temporary Equity Accretion To Redemption Value Adjustment | $682.7K | $1.1M | |||
| Temporary Equity Carrying Amount Attributable To Parent | $7.4M | $116.7M |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stockholders Equity * | -$5.6M | -$5.7M | -$3.5M | -$18.5K | $933.1K | $53.1M | -$13.2M | -$12.3M | -$9.1M | -$9.1M | -$9.1M | -$7.4M | -$5.6M | -$4.5M | -$3.9M | $19.8K | $20.0K | $0.00 | |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $472.8K | $291.6K | $410.1K | $2.3M | $1.1M | $689.3K | $159.5K | $73.3K | $16.3K | $45.0K | $191.1K | $509.7K | $5.5K | $77.1K | |||||
| Retained Earnings Accumulated Deficit | -$74.6M | -$74.3M | -$71.7M | -$64.5M | -$10.6M | -$9.9M | -$9.8M | -$5.6M | -$4.5M | -$3.9M | |||||||||
| Liabilities | $24.3M | $23.9M | $22.9M | $21.4M | $25.5M | $5.6M | $9.4M | $5.9M | $5.0M | $4.8M | |||||||||
| Accounts Payable And Accrued Liabilities Current | $11.7M | $9.6M | $9.5M | $2.6M | $2.2M | $1.4M | $592.1K | $342.5K | |||||||||||
| Liabilities Current | $23.4M | $23.1M | $22.0M | $20.2M | $24.1M | $9.0M | $5.0M | $1.5M | $636.0K | $386.4K | |||||||||
| Assets Current | $3.7M | $2.6M | $3.1M | $4.4M | $3.1M | $724.00 | $18.0K | $65.9K | $68.8K | $105.3K | $404.2K | $876.7K | |||||||
| Assets | $18.7M | $18.2M | $19.4M | $22.3M | $78.6M | $1.4M | $8.1M | $8.1M | $7.7M | $117.3M | $117.2M | $117.6M | |||||||
| Liabilities And Stockholders Equity | $18.7M | $18.2M | $19.4M | $22.3M | $78.6M | $1.4M | $8.1M | $8.1M | $7.7M | $117.3M | $117.2M | $117.6M | |||||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect | $84.0K | $570.5K | -$90.7K | -$250.3K | $77.1K | ||||||||||||||
| Cash And Cash Equivalents At Carrying Value | $472.8K | $291.6K | $410.1K | $2.3M | $1.1M | $507.00 | $30.9K | $16.3K | $45.0K | $191.1K | $509.7K | ||||||||
| Common Stock Value | $1.7K | $1.6K | $1.6K | $1.5K | $1.5K | $350.00 | $344.00 | $344.00 | |||||||||||
| Prepaid Expense And Other Assets Current | $382.5K | $410.0K | $530.0K | $466.7K | $260.8K | $60.4K | $213.1K | $457.6K | |||||||||||
| Accounts Receivable Net Current | $2.6M | $1.6M | $1.9M | $923.3K | |||||||||||||||
| Other Liabilities Current | $51.9K | $51.9K | $51.9K | $456.9K | $456.9K | $592.8K | |||||||||||||
| Contract With Customer Liability Current | $1.2M | $1.2M | $846.7K | $683.1K | $1.0M | ||||||||||||||
| Amortization Of Debt Discount Premium | $0.00 | $7.0K | |||||||||||||||||
| Gains Losses On Extinguishment Of Debt | $0.00 | -$126.1K | -$646.0K | $0.00 | |||||||||||||||
| Deferred Offering Costs Noncurrent | $4.4M | $4.4M | $4.4M | $4.4M | $4.4M | $4.4M | $4.4M | $4.4M | |||||||||||
| Assets Held In Trust Noncurrent | $1.4M | $1.4M | $8.1M | $8.0M | $7.6M | $117.2M | $116.8M | $116.7M | |||||||||||
| Property Plant And Equipment Net | $418.9K | $506.1K | $597.6K | $794.7K | $883.3K | ||||||||||||||
| Repayments Of Related Party Debt | |||||||||||||||||||
| Goodwill | $4.9M | $4.9M | $4.9M | $4.9M | $61.6M | ||||||||||||||
| Allowance For Doubtful Accounts Receivable Current | $2.8M | $2.6M | $2.5M | $2.1M | $1.7M | ||||||||||||||
| Common Stock Issuance Obligation Current | $31.2K | $59.4K | $61.4K | $76.3K | $447.9K | ||||||||||||||
| Temporary Equity Accretion To Redemption Value Adjustment | $94.9K | $404.0K | $244.6K | ||||||||||||||||
| Temporary Equity Carrying Amount Attributable To Parent | $1.3M | $1.3M | $116.7M | $116.7M |
Cash Flow Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Increase Decrease In Accounts Payable And Accrued Liabilities | $4.2M | -$1.4M | $1.4M | $1.7M |
| Net Cash Provided By Used In Operating Activities | -$3.4M | -$5.8M | -$632.6K | -$1.4M |
| Increase Decrease In Prepaid Deferred Expense And Other Assets | -$173.2K | $202.2K | -$59.7K | -$457.6K |
| Net Cash Provided By Used In Financing Activities | $8.4M | $6.0M | $525.0K | -$109.4M |
| Employee Benefits And Share Based Compensation | $6.9M | $5.3M | $4.4M | |
| Increase Decrease In Contract With Customer Liability | $836.7K | -$414.7K | -$104.0K | |
| Net Cash Provided By Used In Investing Activities | -$29.9K | -$26.1K | -$4.3K | $110.1M |
| Increase Decrease In Accounts Receivable | $1.8M | $1.1M | $246.5K | |
| Allocated Share Based Compensation Expense | $1.1M | $896.5K | $0.00 | |
| Proceeds From Related Party Debt | $190.0K | $350.0K | ||
| Payments To Acquire Property Plant And Equipment | $29.9K | $55.3K | $4.3K | |
| Increase Decrease In Due To Related Parties | $0.00 | -$210.8K | $192.2K | |
| Stock Issued During Period Value Share Based Compensation | $1.1M | $826.9K | ||
| Proceeds From Issuance Of Common Stock | $1.5M | $0.00 |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q1 2022 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Increase Decrease In Accounts Payable And Accrued Liabilities | $692.6K | $54.5K | $55.1K | $202.3K | |||||||
| Net Cash Provided By Used In Operating Activities | -$440.5K | $579.3K | -$340.7K | -$250.3K | |||||||
| Increase Decrease In Prepaid Deferred Expense And Other Assets | $83.2K | $22.4K | $52.5K | -$90.6K | |||||||
| Net Cash Provided By Used In Financing Activities | $536.4K | $0.00 | $250.0K | $77.1K | |||||||
| Employee Benefits And Share Based Compensation | $1.2M | $1.7M | $1.7M | $1.7M | $912.7K | $893.6K | $1.0M | $1.1M | |||
| Increase Decrease In Contract With Customer Liability | $358.9K | $469.0K | $587.8K | ||||||||
| Net Cash Provided By Used In Investing Activities | -$11.9K | -$8.7K | |||||||||
| Increase Decrease In Accounts Receivable | $255.1K | $33.1K | |||||||||
| Allocated Share Based Compensation Expense | $392.1K | $349.1K | $32.0K | $0.00 | $0.00 | $0.00 | |||||
| Proceeds From Related Party Debt | $250.0K | $74.8K | |||||||||
| Payments To Acquire Property Plant And Equipment | $11.9K | $8.7K | |||||||||
| Increase Decrease In Due To Related Parties | $0.00 | -$288.00 | |||||||||
| Stock Issued During Period Value Share Based Compensation | $374.0K | $400.3K | $503.4K | $26.3K | |||||||
| Proceeds From Issuance Of Common Stock | $90.6K | $0.00 | $25.0K |
Per-Share & Share Counts
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Earnings Per Share Basic | $-0.73 | $-5.65 | $-0.38 | $-0.25 | |
| Earnings Per Share Diluted | $-0.73 | $-5.65 | $-0.38 | $-0.25 | |
| Weighted Average Number Of Shares Outstanding Basic | 20.1M | 10.2M | 10.0M | 12.7M | |
| Weighted Average Number Of Diluted Shares Outstanding | 20.1M | 10.2M | 10.0M | 12.7M | |
| Common Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Common Stock Shares Outstanding | 33.2M | 16.3M | 4.6M | 4.2M | |
| Common Stock Shares Authorized | 100.0M | 100.0M | 100.0M | 50.0M | 50.0M |
| Common Stock Shares Issued | 33.2M | 16.3M | 4.6M | 10.8M | |
| Preferred Stock Shares Authorized | 10.0M | 10.0M | 10.0M | ||
| Preferred Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | ||
| Preferred Stock Shares Outstanding | 1.8K | 6.2K | 0.00 | ||
| Preferred Stock Shares Issued | 1.8K | 6.2K | 0.00 |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share Basic | $-0.02 | $-0.16 | $-0.24 | $-3.58 | $-0.12 | $0.01 | $-0.02 | $-0.11 | $-0.05 | $-0.05 | $-0.04 | $-0.04 | |
| Earnings Per Share Diluted | $-0.02 | $-0.16 | $-0.24 | $-3.58 | $-0.12 | $0.01 | $-0.02 | $-0.11 | $-0.05 | $-0.05 | $-0.04 | $-0.04 | |
| Weighted Average Number Of Shares Outstanding Basic | 16.5M | 16.4M | 16.3M | 15.1M | 5.3M | 4.6M | 10.0M | 4.6M | 4.2M | 14.9M | 14.9M | 14.9M | |
| Weighted Average Number Of Diluted Shares Outstanding | 16.5M | 16.4M | 16.3M | 15.1M | 5.3M | 4.6M | 10.0M | 4.6M | 4.2M | 14.9M | 14.9M | 14.9M | |
| Common Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| Common Stock Shares Outstanding | 17.0M | 16.4M | 16.4M | 15.4M | 3.4M | 3.4M | 3.4M | 3.4M | |||||
| Common Stock Shares Authorized | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 50.0M | 50.0M | 50.0M | 50.0M | ||||
| Common Stock Shares Issued | 17.0M | 16.4M | 15.4M | 14.8M | 3.4M | 3.4M | 3.4M | 3.4M | |||||
| Preferred Stock Shares Authorized | 10.0M | 10.0M | 10.0M | 10.0M | 10.0M | ||||||||
| Preferred Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||
| Preferred Stock Shares Outstanding | 6.2K | 6.2K | 6.2K | 6.2K | 6.2K | ||||||||
| Preferred Stock Shares Issued | 6.2K | 6.2K | 6.2K | 6.2K | 6.2K |
Other Metrics
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Business Combination Acquisition Related Costs | $0.00 | $792.8K | $86.8K | |
| Additional Paid In Capital | $87.9M | $67.7M | $6.0M | $293.0K |
| Provision For Doubtful Accounts | ||||
| Fair Value Adjustment Of Financial Instruments | $1.5M | -$6.2M | -$90.2K | |
| Operating Costs And Expenses | $2.6M | $3.6M | ||
| Investment Income Interest | $358.8K | $922.6K | ||
| Depreciation And Amortization | $2.6M | $1.3M | $678.00 | |
| Due To Related Parties Current | ||||
| Stock Issued During Period Value New Issues | $13.5M | $214.2K | $284.4K |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Combination Acquisition Related Costs | $0.00 | $0.00 | $0.00 | $455.8K | $228.3K | $26.3K | $9.1K | $16.1K | ||||||||
| Additional Paid In Capital | $69.0M | $68.5M | $68.2M | $65.4M | $63.7M | $550.2K | $622.6K | $622.6K | $507.2K | |||||||
| Provision For Doubtful Accounts | $274.2K | $126.0K | $120.9K | $321.2K | $12.2K | $9.2K | $73.1K | $4.4K | ||||||||
| Fair Value Adjustment Of Financial Instruments | -$2.8M | $154.8K | $1.3M | -$5.7M | -$548.1K | $0.00 | $21.6K | -$88.0K | ||||||||
| Operating Costs And Expenses | $518.1K | $442.4K | $707.6K | $1.1M | $722.2K | $543.2K | $180.00 | $5.0K | ||||||||
| Investment Income Interest | $17.9K | $104.4K | $122.2K | $75.3K | $391.6K | $62.7K | $15.8K | |||||||||
| Depreciation And Amortization | $647.0K | $618.00 | ||||||||||||||
| Due To Related Parties Current | $138.9K | $130.9K | $43.9K | $43.9K | $43.9K | $43.9K | $43.9K | $43.9K | ||||||||
| Stock Issued During Period Value New Issues | $214.2K | $25.0K |
Most recent annual filing with the SEC: March 31, 2026
Data sourced from SEC EDGAR public filings as of August 5, 2026.