Vsee Health (VSEE) Operating Margin (2023 - 2026)
Vsee Health (VSEE) posted Operating Margin of 94.12% for Q1 2026, down 7.43% on a QoQ basis from 87.61% in Q4 2025, and down 3898.0% year-over-year from 2.48% in Q1 2025.
Vsee Health (VSEE) Operating Margin (2023 - 2026) Analysis & Trends
Vsee Health's Operating Margin history runs 4 years deep, the most recent figure standing at 94.12% for Q1 2026.
- Quarterly Operating Margin fell 3898.0% year-over-year to 94.12% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 74.19% (up 44986.0% YoY) and the FY2025 annual result came in at 65.55%, up 53083.0% from the prior year.
- Operating Margin was 94.12% for Q1 2026 at Vsee Health, down from 87.61% in the prior quarter.
- Across five years, Operating Margin topped out at 6.42% in Q1 2024 and bottomed at 1737.85% in Q3 2024.
- A 4-year average of 191.63% and a median of 54.7% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2024 — Operating Margin slumped 171320 bps — and 2025, when it jumped 168616 bps.
- Vsee Health's Operating Margin stood at 7.74% in 2023, then tumbled by 948 bps to 81.07% in 2024, then slipped by 8 bps to 87.61% in 2025, then decreased by 7 bps to 94.12% in 2026.
- Business Quant data shows VSEE's Operating Margin at 94.12% in Q1 2026, 87.61% in Q4 2025, and 51.69% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 33.02 Bn | 25.71 Bn | 662.02 Mn | 30.93% |
| 2 | Healthequity | 8.59 Bn | 8.32 Bn | 256.31 Mn | 29.03% |
| 3 | 10x Genomics | 5.96 Bn | 5.42 Bn | 106.18 Mn | -11.30% |
| 4 | Hinge Health | 5.95 Bn | 5.64 Bn | 154.23 Mn | 17.59% |
| 5 | Waystar Holding | 4.58 Bn | 4.52 Bn | 216.84 Mn | 25.64% |
| 6 | MiniMed | 4.58 Bn | 4.28 Bn | 480.00 Mn | -11.11% |
| 7 | Doximity | 4.00 Bn | 3.25 Bn | 125.97 Mn | 17.08% |
| 8 | Privia Health | 3.07 Bn | 2.65 Bn | - | 1.23% |
| 9 | Omnicell | 1.92 Bn | 1.68 Bn | 140.36 Mn | 5.44% |
| 10 | Vsee Health | 4.23 Mn | 2.89 Mn | 1.20 Mn | -94.12% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -94.12% |
| Dec 31, 2025 | -87.61% |
| Sep 30, 2025 | -51.69% |
| Jun 30, 2025 | -66.51% |
| Mar 31, 2025 | -55.14% |
| Dec 31, 2024 | -81.07% |
| Sep 30, 2024 | -1,737.85% |
| Mar 31, 2024 | 6.42% |
| Dec 31, 2023 | -7.74% |
| Sep 30, 2023 | -24.64% |
| Jun 30, 2023 | -54.25% |
| Mar 31, 2023 | -45.38% |