Versus Systems Inc. (VS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VS SEC filings page.
Versus Systems Inc. (VS) reported $2.2M in revenue for fiscal year 2025, up 3711.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Versus Systems’ revenue rebounded in FY2025, but overhead still absorbed the gross profit and operating cash remained negative.
The sharp improvement in gross margin to99.3% produced gross profit of$2.17M , yet selling, general, and administrative costs were$4.28M ; this explains why the company still reported a net loss of$1.79M . Operating cash outflow of$2.05M was close to that loss, suggesting the reported earnings shortfall broadly reflected cash use rather than mainly non-cash charges.
Revenue recovered from
Short-term coverage appears high on the reported balance sheet, with a current ratio of 10.2x, but receivables of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Versus Systems Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Versus Systems Inc. held $527K in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $2.1M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Versus Systems Inc. scores 13/100 among other emerging companies.
Versus Systems Inc. had 5M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Versus Systems Inc. scores 23/100 among other emerging companies.
Versus Systems Inc. spent $48K on research and development in fiscal year 2025, which was 1.1% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Versus Systems Inc. scores 10/100 among other emerging companies.
Versus Systems Inc. reported revenue of $2.2M in fiscal year 2025, against $57K in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Versus Systems Inc. scores 90/100 among other emerging companies.
Versus Systems Inc.'s operations used $2.1M of cash in fiscal year 2025, against $5.0M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Versus Systems Inc. scores 76/100 among other emerging companies.
Not available for Versus Systems Inc., and counted as zero in the overall score.
Versus Systems Inc. scores -98.08, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($6.5M) relative to total liabilities (-$8.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Versus Systems Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Versus Systems Inc. reported a net loss of $1.8M while operations used $2.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Versus Systems Inc. generated $7K in revenue in Q2 2026. This represents a decrease of 99.7% from the same quarter a year earlier. Against the prior quarter it is down 60.6%.
Versus Systems Inc. reported $473K in net income in Q2 2026. This represents a decrease of 29.6% from the same quarter a year earlier. Against the prior quarter it is up 169.3%.
Versus Systems Inc. earned $0.10 per diluted share (EPS) in Q2 2026. This represents a decrease of 28.6% from the same quarter a year earlier. Against the prior quarter it is up 171.4%.
Not reported for Q2 2026.
Cash & Balance Sheet
Versus Systems Inc. held $1.4M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Versus Systems Inc.'s ROE was 4.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.1 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q2 2026.
VS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7K-99.7% | $17K-91.3% | N/A | N/A | $2.0M+7250.5% | $199K+652.2% | $0 | $4K-83.2% |
| Cost of Revenue | N/A | N/A | N/A | N/A | $8K-49.3% | $8K-65.8% | N/A | N/A |
| Gross Profit | N/A | $17K-90.9% | N/A | N/A | $2.0M+18317.5% | $191K+7678.8% | $0 | $4K+720.6% |
| R&D Expenses | N/A | N/A | N/A | $14K+26.2% | $6K-90.7% | $6K-84.4% | $128K | $11K-95.8% |
| SG&A Expenses | $898K-12.6% | $836K-38.4% | N/A | $742K+42.3% | $1.0M-28.9% | $1.4M-7.3% | $881K | $521K-67.8% |
| Operating Income | $594K-36.7% | -$819K+30.2% | N/A | -$756K-43.0% | $939K+162.6% | -$1.2M+21.9% | -$1.0M | -$529K+72.0% |
| EBITDA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$528K+61.8% |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| Income Tax | N/A | N/A | N/A | $2K | N/A | N/A | N/A | N/A |
| Net Income | $473K-29.6% | -$683K+29.0% | N/A | -$538K+4.1% | $672K+150.0% | -$962K+27.6% | -$810K | -$561K+59.4% |
| EPS (Basic) | $0.10-28.6% | -$0.14+30.0% | -$0.20+20.0% | -$0.11+50.0% | $0.14+125.9% | -$0.20+60.8% | -$0.25+92.6% | -$0.22+88.9% |
| EPS (Diluted) | $0.10-28.6% | -$0.14+30.0% | N/A | N/A | $0.14 | -$0.20 | -$0.25 | -$0.22 |
| Diluted Shares (Avg) | 5M+0.6% | 5M0.0% | N/A | 5M+95.6% | 5M | 5M | N/A | 3M |
VS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.3M+12.2% | $1.7M-39.2% | $2.1M-41.7% | $3.1M+147.2% | $3.8M+109.9% | $2.7M-18.7% | $3.5M-27.5% | $1.2M |
| Current Assets | $3.0M-20.6% | $723K-73.5% | $1.5M-58.9% | $2.8M+123.1% | $3.8M+110.0% | $2.7M-18.4% | $3.5M-27.4% | $1.2M |
| Cash & Equivalents | $1.4M-19.1% | $423K-82.6% | $527K-82.8% | $1.4M+198.3% | $1.7M+85.7% | $2.4M-15.9% | $3.1M-34.6% | $471K-78.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $1.6M+383.6% | $193K | $836K | N/A | $330K+3119.5% | N/A | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | -$7.5M+3.6% | -$7.9M+2.0% | -$8.1M-3.0% | -$8.1M-5.3% | -$7.8M-1.6% | -$8.1M-9.9% | -$7.9M-11.7% | -$7.7M |
| Current Liabilities | $761K+2127.5% | $459K+22176.4% | $143K+443.1% | $2K-90.8% | $34K+3.8% | $2K-98.8% | $26K-91.8% | $27K |
| Non-Current Liabilities | -$8.3M-5.6% | -$8.4M-3.6% | -$8.3M-4.5% | -$8.1M-4.9% | -$7.8M-1.7% | -$8.1M-7.3% | -$7.9M-7.2% | -$7.7M |
| Total Equity | $11.8M+1.6% | $9.6M-11.4% | $10.2M-10.8% | $11.1M+25.1% | $11.7M+22.5% | $10.8M+1.0% | $11.4M-4.3% | $8.9M+76.1% |
| Retained Earnings | -$141.5M-1.2% | -$142.0M-1.1% | -$141.3M-1.3% | -$140.3M-1.2% | -$139.8M-1.2% | -$140.4M-2.7% | -$139.5M-3.0% | -$138.7M |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
VS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$475K+45.2% | $144K+122.4% | -$569K+20.7% | $25K+106.5% | -$868K+59.0% | -$641K+63.5% | -$717K+41.6% | -$381K+54.7% |
| Depreciation & Amortization | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $878-99.8% |
| Stock-Based Compensation | $16K-27.3% | $21K-94.1% | N/A | $21K | $21K | $366K+127.5% | N/A | N/A |
| Investing Cash Flow | -$327K | -$327K | -$309K | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
VS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | 100.0%+4.1pp | N/A | N/A | 99.6%+59.8pp | 95.9%+86.6pp | N/A | 100.0%+102.7pp |
| Operating Margin | 8712.4% | -4732.3% | N/A | N/A | 47.4% | -588.3% | N/A | -13748.0% |
| Net Margin | 6938.8% | -3949.1% | N/A | N/A | 34.0% | -482.4% | N/A | -14575.6% |
| Return on Equity | 4.0%-1.8pp | -7.1%+1.8pp | N/A | -4.8%+1.5pp | 5.8%+19.9pp | -8.9%+3.5pp | -7.1% | -6.3%+21.0pp |
| Return on Assets | 11.0%-6.5pp | -41.2%-5.9pp | N/A | -17.5%+27.6pp | 17.5%+90.9pp | -35.3%+4.3pp | -22.9% | -45.1% |
| Current Ratio | 4.00-108.4x | 1.57-1321.7x | 10.17-124.3x | 1116.66+1070.5x | 112.39+56.8x | 1323.28+1304.6x | 134.49+119.4x | 46.13 |
| Asset Turnover | 0.00-0.5x | 0.01-0.1x | N/A | N/A | 0.52+0.5x | 0.07+0.1x | 0.00 | 0.00 |
Not reported in any period shown, so not listed: Debt-to-Equity, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Versus Systems Inc. VS | FY2025 | $2.2M | -$1.8M | -82.1% | $6.5M | 35/100 |
| Infobird Co., Ltd IFBD | FY2025 | $8.7M | -$53.6M | N/A | $8.0M | 54/100 |
| Future FinTech Group Inc. FTFT | FY2025 | $3.8M | -$3.3M | -87.3% | $25.8M | 25/100 |
| Jet.AI Inc. JTAI | FY2025 | $9.2M | $4.6M | 50.0% | $5.6M | 34/100 |
| 3 E Network Technology Group Ltd MASK | FY2025 | $4.8M | $765K | 15.8% | $3.0M | 68/100 |
Where Versus Systems Inc. Ranks
Frequently Asked Questions
What is Versus Systems Inc.'s annual revenue?
Versus Systems Inc. (VS) reported $2.2M in total revenue for fiscal year 2025. This represents a 3711.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Versus Systems Inc.'s revenue growing?
Versus Systems Inc. (VS) revenue grew by 3711.3% year-over-year, from $57K to $2.2M in fiscal year 2025.
Is Versus Systems Inc. profitable?
No, Versus Systems Inc. (VS) reported a net income of -$1.8M in fiscal year 2025, with a net profit margin of -82.1%.
What is Versus Systems Inc.'s gross margin?
Versus Systems Inc. (VS) had a gross margin of 99.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Versus Systems Inc.'s operating margin?
Versus Systems Inc. (VS) had an operating margin of -99.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Versus Systems Inc.'s net profit margin?
Versus Systems Inc. (VS) had a net profit margin of -82.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Versus Systems Inc.'s return on equity (ROE)?
Versus Systems Inc. (VS) has a return on equity of -17.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Versus Systems Inc.'s operating cash flow?
Versus Systems Inc. (VS) recorded an outflow of $2.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Versus Systems Inc.'s total assets?
Versus Systems Inc. (VS) had $2.1M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Versus Systems Inc. spend on research and development?
Versus Systems Inc. (VS) invested $48K in research and development during fiscal year 2025.
What is Versus Systems Inc.'s current ratio?
Versus Systems Inc. (VS) had a current ratio of 10.17 as of fiscal year 2025, which is generally considered healthy.
What is Versus Systems Inc.'s return on assets (ROA)?
Versus Systems Inc. (VS) had a return on assets of -87.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Versus Systems Inc.'s P/E ratio?
Versus Systems Inc. (VS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $6.5M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Versus Systems Inc.'s price-to-sales ratio?
Versus Systems Inc. (VS) trades at 3.0x sales, its market capitalization divided by revenue of $2.2M revenue, FY2025. The market capitalization is $6.5M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Versus Systems Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Versus Systems Inc. (VS) held $527K in cash, cash equivalents and investments, and reported an operating cash outflow of $2.1M over that year. Dividing the one by the other, the reported balance equals about 3 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Versus Systems Inc.'s Altman Z-Score?
Versus Systems Inc. (VS) has an Altman Z-Score of -98.08, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Versus Systems Inc.'s Piotroski F-Score?
Versus Systems Inc. (VS) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Versus Systems Inc.'s earnings high quality?
Versus Systems Inc. (VS) reported a net loss of $1.8M while operations used $2.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Versus Systems Inc.?
Versus Systems Inc. (VS) scores 35 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.