Vsee Health (VSEE) Operating Margin (2023 - 2026)
Vsee Health's (VSEE) quarterly Operating Margin came in at 172.7% in Q2 2026, down 2523.0% on a YoY basis from 7.13% in Q2 2025, and down 83.49% quarter-over-quarter from 94.12% in Q1 2026.
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Vsee Health (VSEE) Operating Margin (2023 - 2026) Analysis & Trends
Vsee Health (VSEE) has reported Operating Margin for 4 consecutive years, with 172.7% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 2523.0% year-over-year to 172.7%; the trailing twelve-month figure through Jun 2026 stood at 88.44% (up 47595.0% YoY), and the FY2025 full-year result was 65.55%, up 53083.0% from the prior year.
- Operating Margin slipped to 172.7% in Q2 2026 per VSEE's latest filing, from 94.12% 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.
- Historically, Operating Margin has averaged 196.4% across 4 years, with a median of 55.14% in 2025.
- The sharpest annual moves came in 2024 and 2025: Operating Margin plunged 171320 bps in 2024, then surged 168616 bps in 2025.
- Over 4 years, 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 plunged by 97 bps to 172.7% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 172.7%, 94.12%, and 87.61% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 44.53 Bn | 37.29 Bn | 695.95 Mn | 29.64% |
| 2 | Waystar Holding | 4.81 Bn | 4.62 Bn | 221.99 Mn | 23.79% |
| 3 | Doximity | 4.74 Bn | 4.05 Bn | 132.93 Mn | 21.48% |
| 4 | CCC Intelligent Solutions Holdings | 4.41 Bn | 4.30 Bn | 210.64 Mn | 16.66% |
| 5 | EverCommerce | 1.40 Bn | 1.27 Bn | 119.50 Mn | 11.49% |
| 6 | Schrodinger | 1.32 Bn | 904.47 Mn | 32.43 Mn | -70.55% |
| 7 | Certara | 1.21 Bn | 1.03 Bn | 58.15 Mn | -0.21% |
| 8 | GoodRx Holdings | 1.18 Bn | 887.53 Mn | 179.41 Mn | 11.79% |
| 9 | Healthstream | 853.81 Mn | 787.08 Mn | 54.72 Mn | 9.94% |
| 10 | Vsee Health | 1.11 Mn | 659,445.24 | 206,153.00 | -172.70% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -172.70% |
| Mar 31, 2026 | -94.12% |
| Dec 31, 2025 | -87.61% |
| Sep 30, 2025 | -51.69% |
| Jun 30, 2025 | -147.47% |
| 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% |