Deep Value: cash covers more than 100% of the stock price

This company holds roughly $908,302 in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

VSee Health

VSEE

Medical - Healthcare Information Services · Healthcare

Price

$0.03

+0.00 (+13.82%)

Market Cap

$455,406

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+102.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 9.9M (2021) → 20.1M (2025)

Winston Score History

The full picture

VSee Health is a telehealth technology company that builds software tools for virtual doctor visits and remote patient care. Its main products include a video visit platform, a patient intake system, and tools that help clinics and hospitals run online appointments. Its customers are healthcare providers, hospitals, government health agencies, and employers who want to offer remote care to patients.

The company makes money by charging healthcare organizations subscription and licensing fees to use its software. VSee Health operates primarily in the United States and is a small company with a market cap under $100 million. Its competitive position relies on its focus on healthcare-specific workflows, which are more complex than general video calling tools. However, the company is currently losing money — its operating margin is deeply negative — and it faces strong competition from larger telehealth platforms and general-purpose video software, which is the main risk to its long-term survival.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-53.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+100.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (18%)

Research and development spending

Insider Activity

56.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~4 years

$1M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$1M cash & investments at current burn rate

Revenue declining

VSee Health's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

13.2%

Thin — 13.2% gross margin

Profit after running costs

Operating Margin

-197.2%

Losing money on operations — -197.2%

Return on the money invested

ROCE

-109.8%

Weak — -109.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-9.3%

Shrinking sales (-9.3% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-41.6%

Burning cash (-41.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.25

Conservative — low debt load (0.25)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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