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Side-by-side financial comparison of Metalla Royalty & Streaming Ltd. (MTA) and VSEE HEALTH, INC. (VSEE). Click either name above to swap in a different company.

VSEE HEALTH, INC. is the larger business by last-quarter revenue ($3.9M vs $3.8M, roughly 1.0× Metalla Royalty & Streaming Ltd.). Metalla Royalty & Streaming Ltd. runs the higher net margin — -117.1% vs -200.0%, a 82.9% gap on every dollar of revenue.

Metalla Royalty & Streaming Ltd. is a precious metals royalty and streaming firm focused on gold, silver, and strategic mineral assets primarily across North America. It partners with mining operators to earn stable, leveraged returns without incurring the high costs and operational risks of direct mine ownership, catering to investors seeking low-volatility exposure to precious metals markets.

VSEE HEALTH, INC. is a US-based telehealth technology firm offering HIPAA-compliant virtual care platforms, remote consultation tools, and chronic disease management solutions. It primarily serves healthcare providers, enterprise clients and nonprofits across North America and select global markets.

MTA vs VSEE — Head-to-Head

Bigger by revenue
VSEE
VSEE
1.0× larger
VSEE
$3.9M
$3.8M
MTA
Higher net margin
MTA
MTA
82.9% more per $
MTA
-117.1%
-200.0%
VSEE

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
MTA
MTA
VSEE
VSEE
Revenue
$3.8M
$3.9M
Net Profit
$-4.4M
$-7.9M
Gross Margin
50.4%
46.7%
Operating Margin
-87.6%
Net Margin
-117.1%
-200.0%
Revenue YoY
5.1%
Net Profit YoY
-144.7%
EPS (diluted)
$-0.31

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
MTA
MTA
VSEE
VSEE
Q4 25
$3.9M
Q3 25
$3.8M
$4.0M
Q2 25
$2.1M
$3.4M
Q1 25
$1.3M
$3.3M
Q4 24
$3.7M
Q3 24
$3.3M
$3.4M
Q2 24
$1.7M
Q1 24
$981.0K
$1.6M
Net Profit
MTA
MTA
VSEE
VSEE
Q4 25
$-7.9M
Q3 25
$-4.4M
$-289.7K
Q2 25
$-3.2M
$-2.6M
Q1 25
$-1.7M
$-4.0M
Q4 24
$-3.2M
Q3 24
$-4.0M
$-53.9M
Q2 24
$-634.1K
Q1 24
$-1.4M
$62.8K
Gross Margin
MTA
MTA
VSEE
VSEE
Q4 25
46.7%
Q3 25
50.4%
52.1%
Q2 25
39.7%
46.9%
Q1 25
39.2%
56.0%
Q4 24
63.8%
Q3 24
48.5%
83.0%
Q2 24
45.4%
Q1 24
59.3%
76.2%
Operating Margin
MTA
MTA
VSEE
VSEE
Q4 25
-87.6%
Q3 25
-51.7%
Q2 25
-66.5%
Q1 25
-102.5%
-55.1%
Q4 24
-81.1%
Q3 24
-176.4%
-1737.8%
Q2 24
-54.5%
Q1 24
-121.5%
6.4%
Net Margin
MTA
MTA
VSEE
VSEE
Q4 25
-200.0%
Q3 25
-117.1%
-7.3%
Q2 25
-151.3%
-77.1%
Q1 25
-138.0%
-119.2%
Q4 24
-85.9%
Q3 24
-120.3%
-1607.5%
Q2 24
-37.0%
Q1 24
-138.2%
3.9%
EPS (diluted)
MTA
MTA
VSEE
VSEE
Q4 25
$-0.31
Q3 25
$-0.02
Q2 25
$-0.16
Q1 25
$-0.24
Q4 24
$-1.96
Q3 24
$-3.58
Q2 24
$-0.12
Q1 24
$0.01

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
MTA
MTA
VSEE
VSEE
Cash + ST InvestmentsLiquidity on hand
$5.3M
Total DebtLower is stronger
$2.7M
Stockholders' EquityBook value
$5.5M
Total Assets
$22.4M
Debt / EquityLower = less leverage
0.50×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MTA
MTA
VSEE
VSEE
Q4 25
$5.3M
Q3 25
$472.8K
Q2 25
$291.6K
Q1 25
$410.1K
Q4 24
$326.1K
Q3 24
$2.3M
Q2 24
$1.1M
Q1 24
$724
Total Debt
MTA
MTA
VSEE
VSEE
Q4 25
$2.7M
Q3 25
$3.4M
Q2 25
$3.0M
Q1 25
$2.6M
Q4 24
$1.9M
Q3 24
$1.9M
Q2 24
$2.4M
Q1 24
Stockholders' Equity
MTA
MTA
VSEE
VSEE
Q4 25
$5.5M
Q3 25
$-5.6M
Q2 25
$-5.7M
Q1 25
$-3.5M
Q4 24
$-18.5K
Q3 24
$933.1K
Q2 24
$53.1M
Q1 24
$-13.2M
Total Assets
MTA
MTA
VSEE
VSEE
Q4 25
$22.4M
Q3 25
$18.7M
Q2 25
$18.2M
Q1 25
$19.4M
Q4 24
$20.0M
Q3 24
$22.3M
Q2 24
$78.6M
Q1 24
$1.4M
Debt / Equity
MTA
MTA
VSEE
VSEE
Q4 25
0.50×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
2.08×
Q2 24
0.05×
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
MTA
MTA
VSEE
VSEE
Operating Cash FlowLast quarter
$-1.9M
Free Cash FlowOCF − Capex
$-1.9M
FCF MarginFCF / Revenue
-49.2%
Capex IntensityCapex / Revenue
0.2%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-3.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MTA
MTA
VSEE
VSEE
Q4 25
$-1.9M
Q3 25
$-754.5K
Q2 25
$-324.6K
Q1 25
$-440.5K
Q4 24
$-3.0M
Q3 24
$-221.0K
Q2 24
$-3.2M
Q1 24
$579.3K
Free Cash Flow
MTA
MTA
VSEE
VSEE
Q4 25
$-1.9M
Q3 25
$-761.8K
Q2 25
$-328.2K
Q1 25
$-452.4K
Q4 24
$-3.0M
Q3 24
$-226.0K
Q2 24
$-3.2M
Q1 24
$570.5K
FCF Margin
MTA
MTA
VSEE
VSEE
Q4 25
-49.2%
Q3 25
-19.1%
Q2 25
-9.7%
Q1 25
-13.6%
Q4 24
-79.8%
Q3 24
-6.7%
Q2 24
-187.6%
Q1 24
35.2%
Capex Intensity
MTA
MTA
VSEE
VSEE
Q4 25
0.2%
Q3 25
0.2%
Q2 25
0.1%
Q1 25
0.4%
Q4 24
0.1%
Q3 24
0.1%
Q2 24
2.1%
Q1 24
0.5%
Cash Conversion
MTA
MTA
VSEE
VSEE
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
9.23×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

MTA
MTA

Segment breakdown not available.

VSEE
VSEE

Professional Services And Other Fees$3.1M79%
Other$823.2K21%

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