Vsee Health cash flow, quarter by quarter

In Q2 2026, Vsee Health generated −$1.2M of operating cash flow and spent $73K on capital projects, leaving free cash flow of −$1.2M. That is $919K less than in Q2 2025 (−$328K).

Over the twelve months to Jun 30, 2026, operating cash flow was −$6.3M; the largest uses were operating cash flow ($6.3M), net borrowing (+) / repaid (−) ($929K), capital spending ($114K); besides operations, cash came from other financing ($6.4M), shares issued ($1.4M); the cash balance rose by $377K.

Operating cash flow was −$1.2M against net income of $847K — -1.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$640K, payables +$380K, receivables −$356K.

Its cash conversion cycle was -114 days (receivables 143 + inventory 0 − payables 257): suppliers fund its working capital.

Vsee Health is burning cash: its operations consume cash, a free cash flow of −$6.4M a year at the current rate against $454K of cash and investments: a runway of about 1 month; $1.2M of debt also comes due within a year, which would need refinancing or new money before any new financing.