Vsee Health (VSEE) Gross Margin (2023 - 2026)
Vsee Health posted quarterly Gross Margin of 37.91% for Q1 2026, down 1809.0% year-on-year from 2.22% in Q1 2025, and down 18.85% on a QoQ basis from 46.72% in Q4 2025.
Vsee Health (VSEE) has 4 years of Gross Margin data on file, last reported at 37.91% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 1809.0% year-over-year to 37.91%; the trailing twelve-month figure through Mar 2026 stood at 46.3% (down 2236.0% YoY), and the FY2025 full-year result was 50.32%, down 1855.0% from the prior year.
- Gross Margin for Q1 2026 stood at 37.91%, down from 46.72% in the prior quarter.
- Across five years, Gross Margin topped out at 83.02% in Q3 2024 and bottomed at 37.91% in Q1 2026.
- The 4-year median for Gross Margin is 63.11% (2023), against an average of 60.67%.
- The widest annual swing landed in 2024, when Gross Margin jumped 1641 bps; it then plunged 3093 bps in 2025.
- A 4-year view of Gross Margin shows it stood at 72.7% in 2023, then slipped by 12 bps to 63.76% in 2024, then declined by 27 bps to 46.72% in 2025, then declined by 19 bps to 37.91% in 2026.
- The last three Gross Margin figures came in at 37.91% (Q1 2026), 46.72% (Q4 2025), and 52.08% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 30.85 Bn | 24.28 Bn | 622.47 Mn | 74.46% |
| 2 | BrightSpring Health Services | 12.29 Bn | 11.41 Bn | 482.22 Mn | 13.34% |
| 3 | Healthequity | 7.80 Bn | 7.48 Bn | 256.31 Mn | 72.27% |
| 4 | Hinge Health | 4.82 Bn | 4.51 Bn | 154.23 Mn | 84.60% |
| 5 | Doximity | 4.21 Bn | 3.46 Bn | 125.97 Mn | 86.65% |
| 6 | Waystar Holding | 4.18 Bn | 4.03 Bn | 268.04 Mn | 85.40% |
| 7 | 10x Genomics | 3.78 Bn | 3.24 Bn | 106.18 Mn | 70.39% |
| 8 | Privia Health | 2.65 Bn | 2.28 Bn | 595.71 Mn | 98.65% |
| 9 | Omnicell | 1.95 Bn | 1.78 Bn | 140.36 Mn | 45.30% |
| 10 | Vsee Health | 8.79 Mn | 8.79 Mn | 1.20 Mn | 37.91% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 37.91% |
| Dec 31, 2025 | 46.72% |
| Sep 30, 2025 | 52.08% |
| Jun 30, 2025 | 46.86% |
| Mar 31, 2025 | 56.00% |
| Dec 31, 2024 | 63.76% |
| Sep 30, 2024 | 83.02% |
| Mar 31, 2024 | 76.17% |
| Dec 31, 2023 | 72.70% |
| Sep 30, 2023 | 66.61% |
| Jun 30, 2023 | 62.70% |
| Mar 31, 2023 | 63.53% |