v3.26.1
Reportable segment
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Reportable segment

Note 15 Reportable segment

 

Historically, the Company had two reportable segments, Telehealth and Healthcare Technology. These reportable segments reflect the manner in which the Company's Chief Executive Officer, who serves as the chief operating decision maker ("CODM"), regularly reviews financial information, allocates resources, and assesses performance. As of June 30, 2026, the Company’s Chief Executive Officer was the sole CODM. As of December 31, 2025, the Company’s CODM role was shared between the two Co-Chief Executive Officers of the Company.

 

Following the disposition of VSee Lab, the Company no longer conducts Healthcare Technology operations, and the results of continuing operations is reported through the Telehealth segment. Therefore, as of June 30, 2026, the Company has one reportable segment: Telehealth Services.

 

The CODM reviews gross margin and net loss from our reportable segment to evaluate budgets and forecasts, assess actual performance and allocate resources. The CODM’s review focuses on month to month and quarter to quarter changes in these profit measures in order to identify potential future liquidity issues, evaluate performance and need for potential cost reductions and identify potential vendor sourcing changes. The measure of segment assets is reported on the balance sheet as total consolidated assets.

 

Our reportable segment is described below.

 

Telehealth Services – The Company’s proprietary technology platform and modular software solution empower users to plug and play telehealth services with end-to-end encrypted video streaming integrated with medical device data, electronic medical records, and other sensitive data, with multiple other interactive functionalities that enable teamwork that the Company believes are not available from any other system worldwide.  

  

The accounting policies of our reportable segment is the same as those described in the “Summary of Significant Accounting Policies” for the Company. In addition, the Company currently operates in one primary geographic area (the United States) and as such, the disclosures below are attributable to that geographic area.

 

The following table summarizes total revenue and significant expense categories and amounts for the Company's reportable segment that aligns with the segment level information that is regularly provided to the CODM:

 

   For the Six Months Ended
June 30,		 
   2026   2025 
         
Revenues:        
Patient fees  $1,482,432   $1,187,036 
Telehealth fees   1,958,745    1,063,269 
Institutional fees   -    2,500 
Total revenues  $3,441,177   $2,252,805 
           
Cost of revenues   2,507,612    827,523 
Segment gross margin  $933,565   $1,425,282 
           
Less:          
Compensation and related benefits   898,516    941,043 
General and administrative   4,391,908    3,587,372 
Interest expense   172,643    916,974 
Other segment items, net (1)   (190,534)   1,507,727 
Income tax expense   5,260    15,233 
Segment operating loss  $(4,344,228)  $(5,543,067)
           
Reconciliation to net loss          
Income (loss) from discontinued operations, net of tax   2,591,239    (1,029,656)
Net loss  $(1,752,989)  $(6,572,723)

 

(1)Other segment items, net includes Other income, net, Change in fair value of financial instruments, Gain on extinguishment of financial instruments and financial liabilities, and loss on issuance of financial instruments.