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Friday 6 November 2026
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VSee Health, Inc.
VSEE Healthcare Health Information Services
VSee Health, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.6 million, up 40.3% from fiscal 2024.
- Revenue
- −53.9%
- EPS
- +109.9%
- Free cash flow
- −257.6%
- Total debt
- +31.6%
Quarter to June 2026, against a year earlier
1.00
0.15
−13.04%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 6 | 10 | 15 | 13 | +59.2% | 22 | — | — | +47.8% | |
| Gross margin, % | — | — | — | — | — | — | — | 66.47 | 68.87 | 50.32 | 49.77 | (16.1) pt | ||||||
| EBT | — | — | — | — | — | 0 | (3) | (2) | (59) | (15) | (14) | +168.8% | ||||||
| EBT margin, % | — | — | — | — | — | 0.00 | 0.00 | (32.73) | (569.45) | (100.18) | (114.59) | (100.2) pt | ||||||
| Net income | — | 0 | — | — | — | 0 | (3) | (4) | (58) | (15) | (10) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 0.00 | 46.13 | 81.61 | 58.05 | 18.83 | n/m | |||||
| Earnings | — | — | — | — | — | (5.64) | (20.36) | (29.81) | (451.99) | (58.43) | (36.36) | +79.4% | ||||||
| Cash flow | — | — | — | — | — | (12.05) | (8.73) | (5.06) | (45.34) | (13.68) | (9.40) | +3.2% | ||||||
| Capex | — | — | — | — | — | 0.00 | 0.00 | (0.03) | (0.43) | (0.12) | 0.00 | n/m | ||||||
| Free cash flow | — | — | — | — | — | (12.05) | (8.73) | (5.10) | (45.77) | (13.80) | (9.40) | +3.5% | ||||||
| Book value | — | — | — | — | — | (66.96) | (46.62) | (34.40) | (0.14) | 21.65 | 11.32 | n/m | ||||||
| Shares, m | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | 0 | +50.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | 0.00 | 1.33 | 0.52 | 0.06 | 0.6 | ||||||
| P/B | — | — | — | — | — | — | — | 0.00 | 0.00 | 1.38 | 0.10 | 0.5 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 0.00 | 1.36 | 0.21 | 0.09 | 0.5 | ||||||
| EV/FCF | — | — | — | — | — | — | — | (191.37) | (2.42) | (0.88) | (0.17) | (64.9) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | (1) | (1) | (1) | (6) | (3) | (6) | +54.8% | |||||
| Capex | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | +163.7% | ||||||
| Free cash flow | — | — | — | — | — | (1) | (1) | (1) | (6) | (3) | (6) | +55.1% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | 1 | (3) | (4) | (16) | (8) | (5) | n/m | |||||
| Net debt | — | — | — | — | — | (1) | 0 | 0 | 0 | (5) | 0 | +57.5% | ||||||
| Shareholders’ equity | — | — | — | — | — | (3) | (7) | (4) | 0 | 5 | 8 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | (0.48) | (5.16) | (89.17) | (554.87) | (69.39) | (56.62) | (68.9) pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 0.00 | 0.00 | (15,581.33) | (767.86) | (93.65) | (767.9) pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 60.26 | 64.18 | 2,672.63 | (541.52) | (1,065.78) | (541.5) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 2 | 2 | 2 | 154 | 209 | — | +219.7% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 2.88 | 0.07 | 0.07 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 2 Nov 2026
VSee Health, Inc. vs peers in Health Information Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| HLTHQ Cue Health Inc. | $6.9M | — (loss-making) | — (loss-making) | −87.19% (below 0%: shrinking) | n/m | +50.55% (above 0%: growing) | (90.14%) | (792.13%) | Compare |
| ACON Aclarion, Inc. | $4.5M | — (loss-making) | — (loss-making) | +78.48% (above 0%: growing) | n/m | −74.22% (below 0%: shrinking) | 43.86% | (8,164.70%) | Compare |
| MGRX Mangoceuticals, Inc. | $4.3M | — (loss-making) | — | −59.07% (below 0%: shrinking) | n/m | +79.27% (above 0%: growing) | 64.24% | (1,501.45%) | Compare |
| ZCMD Zhongchao Inc. | $4.3M | — (loss-making) | — | +20.44% (above 0%: growing) | −550.00% (below 0%: shrinking) | +191.85% (above 0%: growing) | 41.67% | 0.00% | Compare |
| HCTI Healthcare Triangle, Inc. | $3.2M | 0.0× | — (loss-making) | +158.38% (above 0%: growing) | n/m | +67.48% (above 0%: growing) | 22.48% | (44.28%) | Compare |
| VSEE VSee Health, Inc. | $2.8M | — (loss-making) | — (loss-making) | −53.93% (below 0%: shrinking) | n/m | −257.62% (below 0%: shrinking) | 13.20% | (172.69%) | |
| WORX SCWorx Corp. | $2.0M | — (loss-making) | — (loss-making) | +3.43% (above 0%: growing) | n/m | +87.99% (above 0%: growing) | 46.80% | (17.14%) | Compare |
| MSPR MSP Recovery, Inc. | $1.5M | — (loss-making) | — | −94.60% (below 0%: shrinking) | n/m | +60.88% (above 0%: growing) | (26.77%) | (62,501.52%) | Compare |
| MNDR Mobile-health Network Solutions | $1.1M | — | — | — | — | — | — | — | Compare |
| Median of peers | $3.7M | — | — | +3.43% | — | +67.48% | 41.67% | (792.13%) |
Pay and ownership Proxy statement filed 20 July 2026
Ownership
Directors and executive officers, together
14.87%
Armistice Capital, LLC
9.99%
Imoigele Aisiku
9.66%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement