Is Vsee Health going out of business?

VSEE HEALTH, INC. (VSEE) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

VSEE HEALTH, INC. (VSEE) scores 9 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: Shares dilution YoY: 213.29% (YoY)

Five questions, kept separate

Survival - Critical

Under 1 mo of estimated runway from 2026-06-30, based on $454K of cash and short-term investments against $9.7M of annual burn. Adjusted shares outstanding increased 213.3% over the comparison year.

Business quality - Pre-commercial

Operating margins cannot grade a pipeline; Survival and clinical evidence remain the relevant lenses here.

Trajectory - Clinical progress unavailable

Fundamentals can show funding and burn, but not whether the clinical pipeline is advancing.

Valuation - Evidence incomplete

A positive current market capitalization is unavailable, so price-to-fundamentals evidence cannot be computed.

Event risk - Critical event risk

Going-Concern Warning is the decisive filing event; one adverse event family is active. Favorable events are shown separately and do not offset adverse risk.

What the rules read

• Shares dilution YoY: 213.29% (YoY)
• Debt / Equity: 0.19x
• ROIC: -144.92%
• Interest coverage: -302.3x
• Filing event risk: Going-Concern Warning (-8 pts)
• FCF margin: -76.66%
• Cash Runway (years): 0.05y
• Revenue CAGR (3Y): 63.70%
• Return on Assets: -90.14%
• Debt Maturity Runway: 70% long-term (Long-term focused)
• Revenue growth YoY: 48.02% (YoY) - Growth from a low base; sustainability uncertain.
• Revenue per Asset Efficiency: -43.84% QoQ

Read from filings through 2026-08-31.

Price as of 2026-01-05.