Vsee Health (VSEE) Operating Margin (2023 - 2026)
Vsee Health posted quarterly Operating Margin of 94.12% for Q1 2026, down 3898.0% year-on-year from 2.48% in Q1 2025, and down 7.43% on a QoQ basis from 87.61% in Q4 2025.
Vsee Health (VSEE) has 4 years of Operating Margin data on file, last reported at 94.12% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin fell 3898.0% year-over-year to 94.12%; the trailing twelve-month figure through Mar 2026 stood at 74.19% (up 44986.0% YoY), and the FY2025 full-year result was 65.55%, up 53083.0% from the prior year.
- Operating Margin for Q1 2026 stood at 94.12%, 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.
- The 4-year median for Operating Margin is 54.7% (2023), against an average of 191.63%.
- The widest annual swing landed in 2024, when Operating Margin sank 171320 bps; it then jumped 168616 bps in 2025.
- A 4-year view of Operating Margin shows it stood at 7.74% in 2023, then plunged by 948 bps to 81.07% in 2024, then decreased by 8 bps to 87.61% in 2025, then retreated by 7 bps to 94.12% in 2026.
- The last three Operating Margin figures came in at 94.12% (Q1 2026), 87.61% (Q4 2025), and 51.69% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 30.85 Bn | 24.28 Bn | 622.47 Mn | 29.41% |
| 2 | BrightSpring Health Services | 12.29 Bn | 11.41 Bn | 482.22 Mn | 3.36% |
| 3 | Healthequity | 7.80 Bn | 7.48 Bn | 256.31 Mn | 29.03% |
| 4 | Hinge Health | 4.82 Bn | 4.51 Bn | 154.23 Mn | 17.59% |
| 5 | Doximity | 4.21 Bn | 3.46 Bn | 125.97 Mn | 17.08% |
| 6 | Waystar Holding | 4.18 Bn | 4.03 Bn | 268.04 Mn | 25.64% |
| 7 | 10x Genomics | 3.78 Bn | 3.24 Bn | 106.18 Mn | -11.30% |
| 8 | Privia Health | 2.65 Bn | 2.28 Bn | 595.71 Mn | 1.23% |
| 9 | Omnicell | 1.95 Bn | 1.78 Bn | 140.36 Mn | 5.44% |
| 10 | Vsee Health | 8.79 Mn | 8.79 Mn | 1.20 Mn | -94.12% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -94.12% |
| Dec 31, 2025 | 78.15% |
| 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% |