Vsee Health Inc
vsee.comWhat Do They Do?
Offers configurable telehealth software and intensive-care physician services to hospitals, health systems, and other healthcare organizations.
10-K for FY2025, filed Mar 31, 2026Through our wholly-owned subsidiary VSee Lab, we offer a comprehensive telehealth platform for U.S. hospitals and enterprises. Through VSee…View ↗
To complement our offerings through VSee Lab, we also provide high acuity patient care solutions through our wholly-owned subsidiary —…View ↗
We strive to be the solutions provider of access to the shortage of intensivists across the care continuum utilizing sophisticated…View ↗
How Do They Make Money?
Subscribers pay per user in annual, quarterly, or monthly installments in advance; hospital service contracts are billed monthly, in advance or at month-end. Patient-care fees come from patients and insurers when care is provided, and engineering work is billed as hours are provided.
10-K for FY2025, filed Mar 31, 2026Contractual terms for subscription services are typically 12 months. Contracts are cancellable with a 30-day notice period and customers…View ↗
The Company also has service contracts with hospitals or hospital systems, physician practice groups, and other users. These customer…View ↗
For technical engineering services, performance obligations are typically satisfied over time based on the specified quantity of…View ↗
Patient fees represent a series of distinct services because performance obligations are met when the Company’s physicians provide…View ↗
The Company receives payments from patients, third-party payors, and others for patient fee services. Third-party payors reimburse based on…View ↗
$14.6M
-
10-K for FY2025, filed Mar 31, 2026
$14.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Subscription fees
Recurring
10-K for FY2025, filed Mar 31, 2026 |
22% |
Subscription fees, FY2025
$3.2M Sources
|
Recurring |
|
Professional services and other fees
|
21% |
Professional services and other fees, FY2025
$3.1M Sources
|
|
|
Technical engineering fees
Usage-based
|
7.1% |
Technical engineering fees, FY2025
$1M Sources
|
Usage-based |
|
Patient fees
Usage-based
10-K for FY2025, filed Mar 31, 2026 |
23% |
Patient fees, FY2025
$3.4M Sources
|
Usage-based |
|
Telehealth fees
Recurring
10-K for FY2025, filed Mar 31, 2026 |
26% |
Telehealth fees, FY2025
$3.9M Sources
|
Recurring |
|
Institutional fees
|
<0.1% |
Institutional fees, FY2025
$2.5K Sources
|
Who Are Their Customers?
Hospitals and health systems buy directly; third-party resellers and affiliated hospitals also help reach healthcare customers. Buyers include healthcare enterprises and hospitals, including long-term care and correctional facilities.
10-K for FY2025, filed Mar 31, 2026Through our wholly-owned subsidiary VSee Lab, we offer a comprehensive telehealth platform for U.S. hospitals and enterprises. Through VSee…View ↗
We strive to be the solutions provider of access to the shortage of intensivists across the care continuum utilizing sophisticated…View ↗
Sales and MarketingView ↗
We employ a direct sales organization composed of highly trained team members. The sales organization is segmented primarily by customer…View ↗
The Company’s wholly-owned subsidiary iDoc is a high acuity patient care solution providing elite physician services in intensive care…View ↗
Do Revenues Turn Into Profits?
No. It lost $14.7M in FY2025.
10-K for FY2025, filed Mar 31, 2026
−$9.6MView ↗
10-K for FY2025, filed Mar 31, 2026
−$14.7MView ↗
10-K for FY2025, filed Mar 31, 2026
−$3.5MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 14, 2026
Open tableView ↗
-
Aug 4, 2026
Nasdaq determined it would delist VSee Health's securities
Trading was set to be suspended at the opening of business on August 6, 2026; the company could request a hearing.
Sources
8-K, filed Aug 4, 2026
On July 30, 2026, the Company received a subsequent written notice (the “Notice”) from the Staff of Nasdaq indicating that it has…View ↗
From acquisition search to healthcare services
The older report described a company seeking to acquire a business; the current business sells telehealth software and provides intensive-care physician services.
10-K for FY2022, filed Apr 12, 2023 10-K for FY2025, filed Mar 31, 2026
Who Do They Compete With?
Competes with MDLive, American Well, Included Health, Accolade, NeuroCall, Ceribell, Specialist on Call, TelaDoc, Google, Microsoft, Amazon, Walmart, AmWell, Zoom, Hicuity Health, INTELEICU, and INOVA
10-K for FY2025, filed Mar 31, 2026We view as competitors those companies that currently or in the future will develop and market virtual care technology (devices, software…View ↗
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