VSee Health replaces WithumSmith+Brown with WWC as independent auditor

VSee Health Inc. (NASDAQ:VSEE), a healthcare technology company with a market capitalization of $10.47 million, announced a change in its independent registered public accounting firm, according to a statement filed with the Securities and Exchange Commission. According to InvestingPro analysis, the company appears undervalued based on its Fair Value calculations, though investors should note several financial health challenges. InvestingPro has identified multiple risk factors that subscribers can access, along with detailed financial metrics and expert analysis.

On September 15, the company’s board of directors dismissed WithumSmith+Brown, PC as its independent auditor, effective immediately. WithumSmith+Brown had served in this role since 2024. The company stated that WithumSmith+Brown’s dismissal was not the result of any identified violation of law or fraud during its audit procedures.

WithumSmith+Brown’s audit report for the fiscal year ended December 31, 2024, did not include any adverse opinion or disclaimer of opinion, nor was it qualified or modified with respect to uncertainty, audit scope, or accounting principles, except for an explanatory paragraph expressing substantial doubt about VSee Health’s ability to continue as a going concern.

The company reported that, during the fiscal year ended December 31, 2024, and in the subsequent interim periods prior to the dismissal, there were no disagreements between VSee Health and WithumSmith+Brown regarding accounting principles, financial statement disclosures, or audit procedures that would have required disclosure. There were also no reportable events, except for material weaknesses previously described in the company’s annual report for 2024.

VSee Health provided WithumSmith+Brown with a copy of the current report prior to filing and requested a letter from the firm addressed to the SEC, which was included as an exhibit to the filing.

On September 18, following a competitive review process, the company’s audit committee approved the engagement of WWC, P.C. as its new independent registered public accounting firm. The appointment is effective immediately and covers the audit of the company’s financial statements for the fiscal year ending December 31, 2025, as well as reviews of interim financial information for the quarters ending March 31, June 30, and September 30, 2025.

The company reported that, prior to WWC’s appointment, neither VSee Health nor anyone acting on its behalf consulted with WWC regarding accounting matters or audit opinions.

This article is based on a statement filed with the SEC.

In other recent news, VSee Health, Inc. has disclosed plans to restate its previous financial statements due to identified errors affecting its reports for 2023 and 2024. These errors involve several accounting issues, including incorrect revenue cutoffs and misclassification of expenses. Additionally, VSee Health announced it received a notice from Nasdaq for non-compliance with the minimum bid price requirement, granting the company until March 2026 to regain compliance. VSee Health has also requested a hearing to appeal a Nasdaq decision to delist its stock due to non-compliance with filing requirements. The company had failed to submit its annual report for 2024 and its quarterly report for early 2025. In a positive development, VSee Health launched an AI-powered doctor notes solution, which has significantly reduced physician charting time. Despite these recent challenges, the company continues to innovate in digital health solutions.

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