The latest financial statement is for the year ending 2025-12-31.
| Cash Flow | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -14,712,850 | -57,702,015 |
| Goodwill impairment charges | 0 | 56,675,210 |
| Change in fair value of financial instruments | - | -6,176,097 |
| Shares issued as part of stock grants to vendors | 0 | 98,000 |
| Loss on issuance of financial instruments | -668,020 | -2,513,234 |
| Change in fair value of financial instruments | -1,450,271 | - |
| Loss on extinguishment of debt | -221,202 | -645,979 |
| Gain on extinguishment of eloc | 42,394 | - |
| Loss on termination of lease | -140,709 | - |
| Deferred income taxes | 51,814 | -1,679,404 |
| Amortization of discount on note payable | 0 | 7,000 |
| Allowance for expected credit losses | 1,029,317 | 759,782 |
| Depreciation and amortization | 2,587,556 | 1,323,467 |
| Stock-based compensation | 1,124,519 | 896,537 |
| Amortization of right-of-use assets | 66,220 | 55,459 |
| Accounts receivable | 1,833,791 | 1,094,190 |
| Due from related party | -227,042 | -254,378 |
| Prepaids and other current assets | -173,163 | 202,245 |
| Encompass purchase liability | -386,082 | - |
| Accounts payable and accrued liabilities | 4,235,940 | -1,446,302 |
| Deferred revenue | 836,671 | -414,710 |
| Due to related parties | 0 | -210,755 |
| Operating lease liabilities | -55,224 | -92,870 |
| Net cash used in operating activities | -3,445,733 | -5,789,542 |
| Cash acquired from business combination- idoc | 0 | 29,123 |
| Purchases of fixed assets | 29,928 | 55,267 |
| Net cash used in investing activities | -29,928 | -26,144 |
| Repayment of notes payable-Exchange Note | - | 61,429 |
| Proceeds from convertible debt-Quantum Notes | - | 2,700,000 |
| Proceeds from convertible debt-Quantum Convertible Note | 0 | - |
| Repayment of notes payable-Additional Bridge Notes | - | 52,680 |
| Proceeds from convertible debt-September2024Convertible Note | 0 | 2,000,000 |
| Payments on september 2024 convertible note | - | 38,889 |
| Proceeds from reverse recapitalization with dhac | 0 | 1,323,362 |
| Repayment on advances of related party | 0 | 47,800 |
| Repayment on extension note | 0 | - |
| Repayment on additional bridge financing | 0 | - |
| Repayment of notes payable | 148,576 | - |
| Payment to shareholder | 10,000 | - |
| Proceeds from issuance of common stock | 1,500,003 | - |
| Proceeds from convertible debt-Equity Line Of Credit | - | 760,000 |
| Proceeds from notes issued during the year | 1,759,371 | - |
| Repayment of notes payable-Extension Notes | - | 335,750 |
| Proceeds from pre-funded warrants, net of issuance costs | 5,519,085 | - |
| Payments on factoring payable | 179,007 | 180,397 |
| Repayment of notes payable-Note Payable Issued August32023 | - | 38,200 |
| Payments due on acquisition purchase | 44 | - |
| Payments on due on acquisition purchase | - | 5,150 |
| Payments on financing lease liability | 25,000 | - |
| Net cash provided by financing activities | 8,415,832 | 6,023,067 |
| Net change in cash | 4,940,171 | 207,381 |
| Cash, beginning of year | 326,115 | - |
| Cash, end of the year | 5,266,286 | - |
VSEE HEALTH, INC. (VSEEW)
VSEE HEALTH, INC. (VSEEW)