Vsee Health (VSEE) Operating Expenses (2022 - 2026)
Vsee Health (VSEE) posted Operating Expenses of $4.2 million for Q1 2026, down 20.88% on a QoQ basis from $5.3 million in Q4 2025, and up 13.03% year-over-year from $3.7 million in Q1 2025.
Vsee Health (VSEE) Operating Expenses (2022 - 2026) Analysis & Trends
Vsee Health's Operating Expenses history runs 5 years deep, the most recent figure standing at $4.2 million for 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 was $4.2 million for Q1 2026 at Vsee Health, down from $5.3 million in the prior quarter.
- Across five years, Operating Expenses topped out at $61.1 million in Q3 2024 and bottomed at $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 sank 93.24%.
- Vsee Health's Operating Expenses stood at $1.2 million in 2022, then dropped by 0.54% to $1.2 million in 2023, then soared by 353.04% to $5.4 million in 2024, then retreated by 2.5% to $5.3 million in 2025, then dropped by 20.88% to $4.2 million in 2026.
- Business Quant data shows VSEE's Operating Expenses at $4.2 million in Q1 2026, $5.3 million in Q4 2025, and $4.1 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 31.62 Bn | 24.31 Bn | 662.02 Mn | 388.91 Mn |
| 2 | BrightSpring Health Services | 14.72 Bn | 13.82 Bn | 482.22 Mn | 360.77 Mn |
| 3 | Healthequity | 8.29 Bn | 8.02 Bn | 256.31 Mn | 153.36 Mn |
| 4 | Hinge Health | 5.89 Bn | 5.57 Bn | 154.23 Mn | 122.16 Mn |
| 5 | 10x Genomics | 5.88 Bn | 5.34 Bn | 106.18 Mn | 123.22 Mn |
| 6 | MiniMed | 4.49 Bn | 4.20 Bn | 480.00 Mn | 398.00 Mn |
| 7 | Waystar Holding | 4.44 Bn | 4.38 Bn | 216.84 Mn | 233.41 Mn |
| 8 | Doximity | 3.94 Bn | 3.19 Bn | 125.97 Mn | 101.14 Mn |
| 9 | Privia Health | 3.18 Bn | 2.76 Bn | - | 596.43 Mn |
| 10 | Vsee Health | 3.86 Mn | 2.51 Mn | 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 |