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
DateValue
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