Vsee Health (VSEEW) Operating Margin (2023 - 2026)
Vsee Health (VSEEW) reported Operating Margin of 94.12% for Q1 2026, down 3898.0% on a YoY basis from 2.48% in Q1 2025, and down 7.43% quarter-over-quarter from 87.61% in Q4 2025.
Vsee Health (VSEEW) Operating Margin (2023 - 2026) Analysis & Trends
Vsee Health has reported Operating Margin for 4 years, with the latest figure 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.
- The five-year high for Operating Margin was 6.42% in Q1 2024, with the low at 1737.85% in Q3 2024.
- Historically, Operating Margin has averaged 191.63% across 4 years, with a median of 54.7% in 2023.
- Annual changes were most pronounced in 2024 — Operating Margin tumbled 171320 bps — and 2025, when it jumped 168616 bps.
- Vsee Health's Operating Margin stood at 7.74% in 2023, then sank by 948 bps to 81.07% in 2024, then retreated by 8 bps to 87.61% in 2025, then fell 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 26.11 Bn | 18.79 Bn | 662.02 Mn | 30.93% |
| 2 | BrightSpring Health Services | 12.95 Bn | 12.07 Bn | 482.22 Mn | 3.36% |
| 3 | Healthequity | 7.46 Bn | 7.19 Bn | 256.31 Mn | 29.03% |
| 4 | Hinge Health | 5.15 Bn | 4.83 Bn | 154.23 Mn | 17.59% |
| 5 | Doximity | 3.75 Bn | 3.00 Bn | 125.97 Mn | 17.08% |
| 6 | 10x Genomics | 3.69 Bn | 3.15 Bn | 106.18 Mn | -11.30% |
| 7 | Waystar Holding | 3.61 Bn | 3.45 Bn | 268.04 Mn | 25.64% |
| 8 | Privia Health | 2.90 Bn | 2.54 Bn | 595.71 Mn | 1.23% |
| 9 | Omnicell | 1.72 Bn | 1.54 Bn | 140.36 Mn | 5.44% |
| 10 | Vsee Health | - | - | 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% |