Vsee Health (VSEE) Cost of Revenue (2023 - 2026)
Vsee Health posted quarterly Cost of Revenue of $2.0 million for Q1 2026, up 34.25% year-on-year from $1.5 million in Q1 2025, and down 6.2% on a QoQ basis from $2.1 million in Q4 2025.
Vsee Health (VSEE) has 4 years of Cost of Revenue data on file, last reported at $2.0 million in Q1 2026.
- For the quarter ending Q1 2026, Cost of Revenue rose 34.25% year-over-year to $2.0 million; the trailing twelve-month figure through Mar 2026 stood at $7.8 million (up 105.87% YoY), and the FY2025 full-year result was $7.3 million, up 123.88% from the prior year.
- Cost of Revenue for Q1 2026 stood at $2.0 million, 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.
- The 4-year median for Cost of Revenue is $964268.5 (2023), against an average of $1.1 million.
- The widest annual swing landed in 2024, when Cost of Revenue plunged 32.86%; it then surged 278.38% in 2025.
- A 4-year view of Cost of Revenue shows it stood at $405187.0 in 2023, then jumped by 233.97% to $1.4 million in 2024, then surged by 54.57% to $2.1 million in 2025, then decreased by 6.2% to $2.0 million in 2026.
- The last three Cost of Revenue figures came in at $2.0 million (Q1 2026), $2.1 million (Q4 2025), and $1.9 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 30.85 Bn | 24.28 Bn | 622.47 Mn | 110.18 Mn |
| 2 | BrightSpring Health Services | 12.29 Bn | 11.41 Bn | 482.22 Mn | 260.92 Mn |
| 3 | Healthequity | 7.80 Bn | 7.48 Bn | 256.31 Mn | 26.83 Mn |
| 4 | Hinge Health | 4.82 Bn | 4.51 Bn | 154.23 Mn | 28.07 Mn |
| 5 | Doximity | 4.21 Bn | 3.46 Bn | 125.97 Mn | 112.73 Mn |
| 6 | Waystar Holding | 4.18 Bn | 4.03 Bn | 268.04 Mn | 45.83 Mn |
| 7 | 10x Genomics | 3.78 Bn | 3.24 Bn | 106.18 Mn | 44.67 Mn |
| 8 | Privia Health | 2.65 Bn | 2.28 Bn | 595.71 Mn | 8.13 Mn |
| 9 | Omnicell | 1.95 Bn | 1.78 Bn | 140.36 Mn | 169.52 Mn |
| 10 | Vsee Health | 8.79 Mn | 8.79 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 |
| Jun 30, 2023 | 474,287.00 |
| Jun 30, 2023 | 474,287.00 |
| Mar 31, 2023 | 575,322.00 |
| Mar 31, 2023 | 575,322.00 |