Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
VSee Health Inc. (Nasdaq:VSEE), a micro-cap healthcare provider with a market capitalization of $19.21 million and trailing twelve-month revenue of $8.06 million, has received a notification from Nasdaq’s Listing Qualifications Department indicating non-compliance due to the delayed submission of its annual report for the fiscal year ended December 31, 2024. According to InvestingPro data, the company’s stock has declined nearly 90% over the past year, reflecting ongoing operational challenges. The report, which was due to the Securities and Exchange Commission (SEC), has not been filed on time, prompting the notice.
The company, formerly known as Digital Health Acquisition Corp., has a 60-day window to present a plan to regain compliance. If Nasdaq accepts the plan, they may grant an extension of up to 180 days from the initial due date for filing the annual report, potentially until October 13, 2025. InvestingPro analysis reveals concerning financial health indicators, including a weak overall score and rapidly depleting cash reserves. Subscribers can access 6 additional key ProTips about VSee Health’s financial condition.
VSee Health cited the need for additional time and resources to compile the audited financial statements following their merger in June 2024 as the reason for the delay. Despite efforts to complete the necessary documentation, the company was unable to meet the extended deadline of April 15, 2025, which followed an initial extension request filed on March 31, 2025. The company’s current ratio of 0.37 indicates significant liquidity constraints, with short-term obligations exceeding liquid assets.
The company’s common stock and public warrants continue to be listed on Nasdaq under the tickers VSEE and VSEEW, respectively, with no immediate impact on their trading status. Currently trading at $1.21, the stock has fallen significantly from its 52-week high of $33.08. VSee Health is actively working to comply with Nasdaq’s listing rules and expects to submit a compliance plan or file the overdue Form 10-K within the 60-day period provided by Nasdaq.
However, VSee Health acknowledges that there are no guarantees regarding the submission of a compliance plan, the filing of the Form 10-K within the specified period, or Nasdaq’s willingness to grant an exception. The company’s future compliance with Nasdaq’s listing requirements remains uncertain.
This information is based on a press release statement.
In other recent news, VSee Health has made significant strides with its AI-driven telehealth solutions. The company announced the completion of its Telenursing Robotics platform, which aims to automate routine nursing tasks, potentially reducing hospital labor costs by 3-5%. This initiative is part of VSee’s efforts to enhance operational efficiency and patient care, with clinical pilot programs being launched to assess cost savings and workflow improvements. Additionally, VSee Health has secured a multi-year government contract worth $6 million for the first year, focusing on deploying flexible telehealth systems with EHR integration. The company has also formed strategic partnerships, including a collaboration with AbundaBox to launch the AbundaLife™ health record management platform and an agreement with Ava Robotics to develop telepresence solutions for intensive care. Further expanding its reach, VSee Health partnered with LanguageLine Solutions to offer interpreter services in over 240 languages. Recent contracts include a $560K agreement with a large oncology network and a $2 million renewal with a top 50 Integrated Delivery Network hospital system. These developments are expected to significantly boost VSee Health’s revenue and market presence in the digital healthcare sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.