Filing Flows › Vsee Health (VSEE) › Q1 2026 › vs Q1 2025
Vsee Health (VSEE) Q1 2026 vs Q1 2025 (year over year)
Vsee Health's revenue fell $161K (-5%) from $3.3M in Q1 2025 to $3.2M in Q1 2026. The biggest changes: Telehealth Fees +$514K (+106%); Professional Services and Other Fees −$316K (-35%); Technology Service −$305K (-76%).
Vsee Health, Q1 2026: revenue $3.2M (-5% year over year), operating margin -94.1%, net loss $2.6M, operating cash flow −$2.5M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Telehealth Fees | $998K | $484K | $514K | +106% |
| Health Care, Patient Service | $881K | $711K | $170K | +24% |
| Subscription and Circulation | $605K | $827K | −$222K | -27% |
| Professional Services and Other Fees | $581K | $897K | −$316K | -35% |
| Technology Service | $94K | $400K | −$305K | -76% |
| Revenue | $3.2M | $3.3M | −$161K | -5% |
| Other income, net | $398K | −$2.1M | $2.5M | — |
| Net loss | $2.6M | $4.0M | −$1.4M | -34% |
| Costs & expenses | $6.2M | $7.3M | −$1.1M | -15% |
| Operating costs | $6.1M | $5.2M | $982K | +19% |
| Income tax | $24K | $14K | $10K | +76% |
| Cost of revenue | $2.0M | $1.5M | $501K | +34% |
| General & admin | $2.4M | $2.0M | $408K | +20% |
| Other operating costs | $1.7M | $1.7M | $73K | +4% |
| Operating cash sources | $3.5M | $1.5M | $2.1M | +139% |
| Depreciation & amortization | $647K | $647K | −$418 | -0.1% |
| Share-based compensation | $441K | $392K | $49K | +13% |
| Cash used in operations | $2.5M | $440K | $2.0M | +457% |
| Net loss absorbed | $2.6M | $4.0M | −$1.4M | -34% |
| Working capital & other | $940K | −$2.5M | $3.4M | — |
Questions
How much did Vsee Health's revenue grow year over year in Q1 2026?
Vsee Health's revenue fell $161K (-5%) from $3.3M in Q1 2025 to $3.2M in Q1 2026.
What drove Vsee Health's revenue change in Q1 2026?
Telehealth Fees +$514K (+106%); Professional Services and Other Fees −$316K (-35%); Technology Service −$305K (-76%).