Vsee Health (VSEE) Operating Expenses (2022 - 2026)
Vsee Health's (VSEE) quarterly Operating Expenses came in at $4.2 million in Q1 2026, up 13.03% YoY from $3.7 million in Q1 2025, and down 20.88% on a QoQ basis from $5.3 million in Q4 2025.
Vsee Health (VSEE) Operating Expenses (2022 - 2026) Analysis & Trends
Vsee Health (VSEE) has 5 years of Operating Expenses data on file, last reported at $4.2 million in Q1 2026.
- Quarterly Operating Expenses rose 13.03% year-over-year to $4.2 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $17.4 million (down 75.57% YoY) and the FY2025 annual result came in at $16.9 million, down 75.57% from the prior year.
- Operating Expenses slipped to $4.2 million in Q1 2026, from $5.3 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $61.1 million in Q3 2024 to a low of $300000.0 in Q2 2024.
- A 5-year average of $5.8 million and a median of $1.5 million in 2023 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2024 — Operating Expenses jumped 4571.89% — and 2025, when it slumped 93.24%.
- Tracing VSEE's Operating Expenses over 5 years: stood at $1.2 million in 2022, then decreased by 0.54% to $1.2 million in 2023, then jumped by 353.04% to $5.4 million in 2024, then declined by 2.5% to $5.3 million in 2025, then decreased by 20.88% to $4.2 million in 2026.
- The last three Operating Expenses figures came in at $4.2 million (Q1 2026), $5.3 million (Q4 2025), and $4.1 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 388.91 Mn |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 362.36 Mn |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 153.36 Mn |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 132.05 Mn |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 143.51 Mn |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | 398.00 Mn |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 243.63 Mn |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 99.28 Mn |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | 71.09 Mn |
| 10 | Vsee Health | 1.42 Mn | 72,850.60 | 1.20 Mn | 4.17 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 4.17 Mn |
| Dec 31, 2025 | 5.27 Mn |
| Sep 30, 2025 | 4.13 Mn |
| Jun 30, 2025 | 3.84 Mn |
| Mar 31, 2025 | 3.69 Mn |
| Dec 31, 2024 | 5.41 Mn |
| Sep 30, 2024 | 61.08 Mn |
| Jun 24, 2024 | 300,000.00 |
| Mar 31, 2024 | 1.13 Mn |
| Dec 31, 2023 | 1.19 Mn |
| Sep 30, 2023 | 1.31 Mn |
| Jun 30, 2023 | 1.49 Mn |
| Mar 31, 2023 | 1.72 Mn |
| Dec 31, 2022 | 1.20 Mn |
| Sep 30, 2022 | 1.13 Mn |
| Jun 30, 2022 | 722,162.00 |
| Mar 31, 2022 | 543,179.00 |