Vsee Health (VSEE) Cost of Revenue (2023 - 2026)
Vsee Health (VSEE) posted Cost of Revenue of $2.0 million for Q1 2026, down 6.2% on a QoQ basis from $2.1 million in Q4 2025, and up 34.25% year-over-year from $1.5 million in Q1 2025.
Vsee Health (VSEE) Cost of Revenue (2023 - 2026) Analysis & Trends
Vsee Health's Cost of Revenue history runs 4 years deep, the most recent figure standing at $2.0 million for Q1 2026.
- Quarterly Cost of Revenue rose 34.25% year-over-year to $2.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $7.8 million (up 105.87% YoY) and the FY2025 annual result came in at $7.3 million, up 123.88% from the prior year.
- Cost of Revenue was $2.0 million for Q1 2026 at Vsee Health, down from $2.1 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $2.1 million in Q4 2025 and bottomed at $386253.0 in Q1 2024.
- A 4-year average of $1.1 million and a median of $964268.5 in 2023 frame the typical range for Cost of Revenue.
- Annual changes were most pronounced in 2024 — Cost of Revenue sank 32.86% — and 2025, when it surged 278.38%.
- Vsee Health's Cost of Revenue stood at $405187.0 in 2023, then surged by 233.97% to $1.4 million in 2024, then soared by 54.57% to $2.1 million in 2025, then slipped by 6.2% to $2.0 million in 2026.
- Business Quant data shows VSEE's Cost of Revenue at $2.0 million in Q1 2026, $2.1 million in Q4 2025, and $1.9 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 31.81 Bn | 24.49 Bn | 662.02 Mn | 220.92 Mn |
| 2 | BrightSpring Health Services | 14.76 Bn | 13.86 Bn | 482.22 Mn | 260.92 Mn |
| 3 | Healthequity | 8.36 Bn | 8.10 Bn | 256.31 Mn | 98.33 Mn |
| 4 | Hinge Health | 5.91 Bn | 5.60 Bn | 154.23 Mn | 28.07 Mn |
| 5 | 10x Genomics | 5.89 Bn | 5.35 Bn | 106.18 Mn | 44.67 Mn |
| 6 | MiniMed | 4.45 Bn | 4.16 Bn | 480.00 Mn | 357.00 Mn |
| 7 | Waystar Holding | 4.41 Bn | 4.35 Bn | 216.84 Mn | 97.04 Mn |
| 8 | Doximity | 3.93 Bn | 3.18 Bn | 125.97 Mn | 19.41 Mn |
| 9 | Privia Health | 3.10 Bn | 2.68 Bn | - | - |
| 10 | Vsee Health | 3.77 Mn | 2.42 Mn | 1.20 Mn | 1.96 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.96 Mn |
| Mar 31, 2026 | 1.96 Mn |
| Dec 31, 2025 | 2.09 Mn |
| Dec 31, 2025 | 2.09 Mn |
| Sep 30, 2025 | 1.91 Mn |
| Sep 30, 2025 | 1.91 Mn |
| Jun 30, 2025 | 1.80 Mn |
| Jun 30, 2025 | 1.80 Mn |
| Mar 31, 2025 | 1.46 Mn |
| Mar 31, 2025 | 1.46 Mn |
| Dec 31, 2024 | 1.35 Mn |
| Dec 31, 2024 | 1.35 Mn |
| Sep 30, 2024 | 569,734.00 |
| Sep 30, 2024 | 569,734.00 |
| Mar 31, 2024 | 386,253.00 |
| Mar 31, 2024 | 386,253.00 |
| Dec 31, 2023 | 405,187.00 |
| Dec 31, 2023 | 405,187.00 |
| Sep 30, 2023 | 478,399.00 |
| Sep 30, 2023 | 478,399.00 |