VSee Health Announces Filing Second Quarter 2025 Results

Rhea-AI Summary

VSee Health (Nasdaq:VSEE) reported Second Quarter 2025 results for the three months ended June 30, 2025, with revenue of $3.4 million, up 98% year-over-year and a rise in gross profit margin from 45% to 47%. The company reported improved operating cash use in the first six months of 2025 at $765,094 versus $2,594,214 a year earlier. Cash flow from financing for H1 2025 was $746,040 compared with $3,597,841 in H1 2024, and investing cash use was minimal at $15,466.

The company attributes strong revenue growth to the acquisition and integration of iDoc Telehealth, expanded customer relationships, and new services that improved margins, while noting integration challenges remain.

Positive

• Revenue +98% YoY to $3.4 million in Q2 2025
• Gross profit margin increased from 45% to 47%
• H1 2025 operating cash use improved to $765,094
• Acquisition of iDoc drove >100% year-over-year revenue growth

Negative

• Integration of iDoc described as challenging
• Cash flow from financing fell to $746,040 in H1 2025 from $3,597,841

Insights

Senior Financial Analyst

Revenue nearly doubled to $3.4 million with a slight margin lift; cash burn narrowed but remains negative.

Revenue growth of 98% to $3.4 million reflects successful top-line expansion, largely driven by the acquisition and integration of iDoc and new client wins. Gross profit margin rose from 45% to 47%, indicating modest improvement in unit economics as service mix and scale shifted.

Operating cash flow remains negative but improved materially (used $765,094 in the first six months of 2025 versus $2,594,214 prior-year), which reduces near-term liquidity pressure; financing cash inflows fell versus the prior period, so external funding dynamics merit attention. Integration challenges cited create execution risk that could reverse gains if not resolved.

Watch the quarterly trends in revenue growth and gross margin and the monthly cash runway; next concrete checkpoints include the company’s subsequent quarterly filings after 06/30/2025 showing whether operating cash flow turns positive and whether integration yields the claimed efficiencies within the next 4–8 quarters.

SAN JOSE, CA, MA / ACCESS Newswire / October 17, 2025 / VSee Health, Inc. (Nasdaq:VSEE), a leader in telehealth solutions, reported its financial results for the three months ended June 30, 2025 ("Second Quarter 2025"). Unless otherwise noted, percentage and other changes are relative to the three months ended June 30, 2024 ("Second Quarter 2024").

Highlights

• Second Quarter 2025 revenue of $3.4 million, up 98% year-over-year

• Second Quarter 2025 Gross profit margin increased from 45% to 47%

Liquidity and Cash Flow

Cash flow used in operations was $765,094 in the first six months of 2025, compared to $2,594,214 in the first six months of 2024. Cash flow used in investing activities was $15,466 for the first six months of 2025, compared to $16,390 in the first six months of 2024. Cash flow from financing activities was $746,040 in the first six months of 2025, compared to $3,597,841 in the first six months of 2024.

The integration of iDoc Telehealth has been challenging yet the rewards of robust revenue growth, expanded customer relationships and operational progress should provide comfort to shareholders and interested parties alike that the Company is on the right path. The Company's is experiencing more than 100% year-over-year revenue growth which has been largely driven by the acquisition of iDoc and the growth of the Company's telehealth service. With the consolidation of VSee Lab and iDoc platforms, aligning physician coverage, service offerings, and client delivery models the Company believes both revenue growth and operational efficiencies will deliver monumental operational improvements for the near future. Finally, new clients have provided strong revenue growth and expansion into new services has improved gross margins, management is not yet satisfied and is committed to build shareholder value.

"We are extremely proud of our team's execution during the exhausting acquisition process. Our growing revenue and improved operational efficiencies have laid the foundation for continued success, but we also understand that much work needs to be done to improve shareholder value. As we enter this next phase of growth, we are committed to providing products and services that will be in high demand, improve patient care, and bring efficiencies to service providers. We understand if we continue to improve our offerings the natural end result will be improved shareholder value. Although we are pleased with the results from the financial results reported in the 10Q for the period ended 06/30/2025, we also understand we have a tremendous amount of work ahead of us. We promise to deliver results our customers and shareholders will be proud of. We commit to work relentlessly until every aspect of our business and operations are out preforming expectations," said Dr. Milton Chen, and Dr. Imo Aisiku, Co-Chief Executive Officer of VSee Health.

"VSee Health is at the forefront of redefining how the government and hospitals deliver care virtually. Our operational execution and discipline position us well for long-term value creation and sustainable growth," Mr. Chen added.

About VSee Health

VSee Health (NASDAQ:VSEE) is a telehealth technology and services company delivering high-acuity virtual care solutions through its scalable, API-driven platform. The Company's offerings integrate secure video, device data, and EHR connectivity to power hospital systems, health networks, and employers across the United States.

For more information, please visit www.vseehealth.com.

Forward-Looking Statements

Matters discussed in this news release that are not statements of historical or current facts, including but not limited to those relating to VSee Health's ability to improve healthcare access and provider efficiencies, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause performance or achievements to be materially different from historical results or from any future performance or achievements expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. More information on risk factors relating to VSee Health and its technology and billing services is included from time to time in the "Cautionary Note Regarding Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of VSee Health's periodic and current filings with the SEC, which are also made available on VSee Health's website at www.vseehealth.com. Forward-looking statements speak only as of the date they are made, and VSee Health undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.

Contact:

VSee Health
Anne Chang
media@vsee.com

VSee Investor Contact:
Milton Chen
VSee Health
investor@vsee.com

SOURCE: VSee Health, Inc.

View the original press release on ACCESS Newswire

FAQ

What were VSEE's reported revenues for Q2 2025?

VSee reported $3.4 million revenue for the three months ended June 30, 2025, up 98% YoY.

How did VSEE's gross margin change in Q2 2025?

Gross profit margin rose from 45% to 47% for Second Quarter 2025.

What were VSEE's cash flow figures for the first half of 2025?

Cash flow used in operations was $765,094; financing cash flow was $746,040; investing cash flow was $15,466 in H1 2025.

How did the iDoc acquisition affect VSEE's results in 2025?

Management attributes the >100% year-over-year revenue growth largely to the iDoc acquisition and related service expansion.

Did VSEE report any operational challenges in Q2 2025?

Yes. Management noted that the integration of iDoc has been challenging despite revenue and margin improvements.