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SAN JOSE, Calif. - VSee Health, Inc. (NASDAQ:VSEE), a telehealth company with a market capitalization of $18.55 million, disclosed this week that it has received a notice from Nasdaq due to non-compliance with the exchange’s filing requirements. The notification, dated May 23, 2025, was issued because VSee Health has not submitted its quarterly and annual financial reports for the periods ending March 31, 2025, and December 31, 2024, respectively. According to InvestingPro data, the company’s financial health score is currently rated as WEAK, with particular concerns about liquidity.
The company’s securities continue to be listed and traded on the Nasdaq Capital Market at $1.26 per share, as the notice does not have an immediate impact on its status. The stock has experienced significant pressure, declining 92% over the past year. VSee Health is required to present a plan to regain compliance by June 24, 2025. If the plan is accepted, Nasdaq may allow the company an extension until October 13, 2025, to file the overdue documents and fulfill the listing rule 5250(c)(1).
VSee Health has expressed its intention to comply with the Nasdaq’s requirements and plans to file the missing Form 10-Q and Form 10-K promptly. These filings are essential for investors to assess the company’s financial health and performance, particularly given its current ratio of 0.37, indicating short-term obligations exceed liquid assets. Get deeper insights into VSee Health’s financial metrics and access additional analysis with InvestingPro, which offers 6 key investment tips for this stock.
The delay in filing has introduced uncertainty regarding the company’s financial management and operational efficiency, though the company maintains a gross profit margin of 72.48%. VSee Health has not provided specific reasons for the delay or an exact timeline for when it expects to file the reports.
This announcement includes forward-looking statements regarding the company’s plans to regain compliance within the Nasdaq’s deadlines. However, the company has cautioned that these statements are subject to various risks and uncertainties that could cause actual outcomes to differ materially from those projected.
Investors and other stakeholders are advised to monitor the company’s progress in addressing the compliance issue. The information regarding VSee Health’s situation is based on a press release statement from the company.
In other recent news, VSee Health Inc. has made significant strides in the digital healthcare sector. The company has announced a series of strategic contracts and partnerships, including a $6 million government contract for the first year to develop a flexible telehealth system. This contract is expected to enhance VSee Health’s revenue run rate. Additionally, the company has partnered with AbundaBox to launch AbundaLife™, a health record management platform, and with Ava Robotics to create telepresence solutions for intensive care. Furthermore, VSee Health has secured various contracts, including a $560K agreement with an oncology network and a $2 million renewal with a hospital system. Meanwhile, VSee Health is facing a Nasdaq delisting notice due to a delay in filing its annual report for the fiscal year ended December 31, 2024. The company is working to regain compliance and has a 60-day window to submit a plan. In another development, VSee Health launched Project MAMA, a telehealth initiative in the Philippines, aiming to improve prenatal care in rural areas.
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