Filing Flows › Vsee Health (VSEE) › Q4 2024
Vsee Health (VSEE) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Aug 28, 2025
Vsee Health (VSEE) reported revenue of $3.7M for the fourth quarter 2024 (Q4 2024), +152% from a year earlier and +11% from the quarter before. Operating margin was -81.1%, net loss $3.2M (85.9% of revenue).
Vsee Health, Q4 2024: revenue $3.7M (+152% year over year), operating margin -81.1%, net loss $3.2M, operating cash flow −$3.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7M | +11% | +152% |
| Operating profit | −$3.0M | — | — |
| Net earnings | −$3.2M | — | — |
| Operating cash flow | −$3.0M | — | — |
What changed
Revenue was $3.7M in Q4 2024, up 152% year over year and up 11% from the previous quarter.
Gross margin was 63.8%, down 8.9 points from a year earlier. Operating costs exceeded revenue by $3.0M, an operating margin of -81.1%. Operating expenses grew 353% against revenue growth of 152%. The fastest-growing cost line was General & admin (+1771%). The quarter ended with a net loss of $3.2M, narrower than the previous quarter's $53.9M loss.
Operating cash flow was −$3.0M. Non-cash charges added back $672K of depreciation and amortization and $393K of share-based compensation. Working capital and other items used $831K. Capital expenditures of $5K exceeded it, leaving free cash flow of −$3.0M.
Questions
What was Vsee Health's revenue in the fourth quarter 2024?
Vsee Health (VSEE) reported revenue of $3.7M for the fourth quarter 2024 (Q4 2024), +152% from a year earlier and +11% from the quarter before.
Was Vsee Health profitable in the fourth quarter 2024?
Operating loss was $3.0M (-81.1% of revenue) and net loss $3.2M.
Source: Vsee Health 10-K on SEC EDGAR.