VSEED · Vsee Health, Inc. · Debt
Substantial doubt about the company's ability to continue as a going concern.
“Management has determined that principal conditions including the Company’s liquidity condition and historical operating losses raise substantial doubt about the Company’s ability to continue as a going concern for a period of time of at least one year after the date that the accompanying consolidated financial statements are issued. ... There is no assurance that the Company’s plans to alleviate such concerns will be successful or successful within one year after the date the condensed consolidated financial statements are issued.”View the 10-Q filed Aug 14, 2026
One customer — 46% of revenue (the three months ended June 30, 2026)
“The Company has one customer whose revenue accounted for approximately 46% and 43% of the Company's total revenue for the three months ended June 30, 2026, and six months ended June 30, 2026, respectively.”
One customer — 43% of revenue (the six months ended June 30, 2026)
“The Company has one customer whose revenue accounted for approximately 46% and 43% of the Company's total revenue for the three months ended June 30, 2026, and six months ended June 30, 2026, respectively.”
2 customers — 23% of receivables (June 30, 2026)
“In aggregate, the Company had two customers whose accounts receivable represented 23% of the Company's total accounts receivable as of June 30, 2026.”
3 customers — 43% of receivables (December 31, 2025)
“In the aggregate, the Company had three customers whose accounts receivable represented 43% of the Company's total accounts receivable as of December 31, 2025.”
Debt Profile
Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
Reported debt balances
Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.
| Reported balance | As of | Amount | Source |
|---|---|---|---|
| Finance lease liabilities | 2026-06-30 | USD 0 | 10-Q filed 2026-08-14 |
Related accounting measures — not additional borrowingCarrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.
| |||
| Long-term debt, including current maturities | 2026-06-30 | USD 2,022,822 | 10-Q filed 2026-08-14 |
Related accounting measures — not additional borrowingCarrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.
| |||
| Operating lease liabilities | 2026-06-30 | USD 8,345 | 10-Q filed 2026-08-14 |
Related accounting measures — not additional borrowingCarrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.
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Covenants
Covenant terms have not yet been verified for this profile.
The balance figures do not establish whether covenants apply or whether the company complies with them.
Loans, facilities and notes
The instrument breakdown is not yet verified. Read the debt note in the linked report for borrowing terms and maturity conditions.