VSee Health Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	14.43	10.42	5.77	6.38	7.34	6.8
Revenue Growth (YoY)	77.78%	80.74%	-9.59%	-13.08%	7.83%	-
Cost of Revenue	6.52	3.24	1.93	1.54	1.41	1.34
Gross Profit	7.9	7.18	3.83	4.84	5.92	5.46
Selling, General & Admin	16.99	11.86	5.62	6.3	5.67	5.06
Operating Expenses	16.99	11.86	5.62	6.3	5.67	5.06
Operating Income	-9.09	-4.68	-1.79	-1.46	0.25	0.4
Interest Expense	-1.47	-0.21	-0.19	-0.03	-	-0.05
Interest & Investment Income	-	-	-	-	-	0
Other Non Operating Income (Expenses)	0.74	3.66	0.07	0.09	0	-
EBT Excluding Unusual Items	-9.82	-1.23	-1.91	-1.4	0.25	0.36
Merger & Restructuring Charges	-0.08	-0.79	-0.09	-0.22	-	-
Impairment of Goodwill	-	-56.68	-	-	-	-
Other Unusual Items	-0.13	-0.65	0.11	-	0.13	-
Pretax Income	-10.03	-59.34	-1.89	-1.62	0.39	0.36
Income Tax Expense	0.04	-1.64	1.84	-0.69	0.11	0.1
Earnings From Continuing Operations	-10.07	-57.7	-3.73	-0.93	0.28	0.26
Minority Interest in Earnings	-	-	-0.04	0.09	0.2	-
Net Income	-10.07	-57.7	-3.76	-0.84	0.48	0.26
Net Income to Common	-10.07	-57.7	-3.76	-0.84	0.48	0.26
Net Income Growth	-	-	-	-	83.83%	-
Shares Outstanding (Basic)	16	10	10	10	10	10
Shares Outstanding (Diluted)	16	10	10	10	10	10
Shares Change (YoY)	85.69%	2.15%	-	0.53%	0.99%	-
EPS (Basic)	-0.62	-5.65	-0.38	-0.08	0.05	0.03
EPS (Diluted)	-0.62	-5.65	-0.38	-0.08	0.05	0.03
EPS Growth	-	-	-	-	82.03%	-
Free Cash Flow	-4.52	-5.84	-0.64	-0.83	-0.46	0.79
Free Cash Flow Per Share	-0.28	-0.57	-0.06	-0.08	-0.05	0.08
Gross Margin	54.78%	68.87%	66.47%	75.81%	80.74%	80.30%
Operating Margin	-63.00%	-44.94%	-30.99%	-22.96%	3.44%	5.94%
Profit Margin	-69.81%	-553.69%	-65.26%	-13.11%	6.49%	3.80%
Free Cash Flow Margin	-31.34%	-56.08%	-11.05%	-12.95%	-6.27%	11.60%
EBITDA	-6.48	-3.36	-1.79	-	-	-
EBITDA Margin	-44.88%	-32.23%	-30.98%	-	-	-
D&A For EBITDA	2.61	1.32	0	-	-	-
EBIT	-9.09	-4.68	-1.79	-1.46	0.25	0.4
EBIT Margin	-63.00%	-44.94%	-30.99%	-22.96%	3.44%	5.94%
Effective Tax Rate	-	-	-	-	27.98%	27.98%
Revenue as Reported	14.43	10.42	5.77	-	-	-

Updated Oct 15, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q