What is VisionSys AI Inc's earnings per share (EPS)?

VisionSys AI Inc (VSA) reported diluted earnings per share of $-7.38 for fiscal year 2025. This represents a -0.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

VisionSys AI Inc Financials

VSA

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows VisionSys AI Inc (VSA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).

Rhea AI VSA FY2024 2026-05-11

Weak cash conversion and balance-sheet shrinkage define the story as liabilities stayed heavy while the asset base thinned dramatically.

FY2022 and FY2023 both showed positive net income, yet operating cash flow stayed negative at -$4.0M and -$16.8M. By FY2024, cash had dropped to $6.6M while operating cash outflow was still -$16.6M, so reported profit never matured into self-funding operations.

From FY2020 to FY2022, gross margin expansion from 43.8% to 57.2% did much of the repair work, hinting at a meaningfully better mix or lower unit costs. Because operating profit turned positive before sales regained the earlier peak, the turnaround looks driven more by cost structure repair than by simple growth, which makes it more fragile when volume weakens.

FY2024 ended with only $13.8M of assets against $260.9M of liabilities, leaving the company with deeply negative equity and limited asset backing for what it owes. Near-term resources were just $7.7M versus $248.4M of current liabilities, a thin short-term liquidity buffer that points to financing pressure rather than operating self-sufficiency.

Financial Health Signals

Financial health score pending refresh

We are recalculating VisionSys AI Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Distress

-7.11

VisionSys AI Inc scores -7.11, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($9.6M) relative to total liabilities ($546K). 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.

Key Financial Metrics

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Earnings & Revenue

Revenue

$149K

5Y CAGR-78.0%

10Y CAGR-44.8%

VisionSys AI Inc generated $149K in revenue in fiscal year 2025.

EBITDA

-$5.2M

YoY+91.9%

VisionSys AI Inc's EBITDA was -$5.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 91.9% from the prior year.

Net Income

N/A

EPS (Diluted)

$-7.38

YoY-0.8%

VisionSys AI Inc earned $-7.38 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 0.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$37.8M

VisionSys AI Inc generated -$37.8M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt

$7.9M

YoY+18.8%

5Y CAGR-32.5%

10Y CAGR-7.0%

VisionSys AI Inc held $7.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

560M

VisionSys AI Inc had 560M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

22.1%

5Y CAGR-21.6pp

10Y CAGR-46.6pp

VisionSys AI Inc's gross margin was 22.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.

Operating Margin

-3836.9%

5Y CAGR-3794.4pp

10Y CAGR-3855.3pp

VisionSys AI Inc's operating margin was -3836.9% in fiscal year 2025, reflecting core business profitability.

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$10.9M

10Y CAGR+4.3%

VisionSys AI Inc invested $10.9M in capex in fiscal year 2025, funding long-term assets and infrastructure.

VSA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$149K	N/A	$193.7M-45.9%	$357.8M-4.4%	$374.5M+28.8%	$290.9M
Cost of Revenue	$116K	N/A	$105.8M-30.9%	$153.1M-18.8%	$188.5M+15.3%	$163.5M
Gross Profit	$33K-99.9%	$58.0M-34.0%	$87.9M-57.0%	$204.7M+10.1%	$186.0M+46.0%	$127.4M
R&D Expenses	N/A	$2.6M+59.5%	$1.6M-84.3%	$10.4M-37.3%	$16.6M+8.1%	$15.4M
SG&A Expenses	$5.8M	N/A	$46.6M-46.8%	$87.6M-2.1%	$89.4M-7.5%	$96.6M
Operating Income	-$5.7M	N/A	$1.9M-86.0%	$13.5M+123.3%	-$57.9M+53.1%	-$123.6M
Interest Expense	N/A	-$11K-107.2%	$153K-60.9%	$391K+6.8%	$366K+1320.0%	-$30K
Income Tax	N/A	$4.3M+484.1%	-$1.1M-137.2%	$3.0M-83.1%	$17.9M+433.4%	-$5.4M
Net Income	N/A	N/A	$1.5M-88.2%	$12.4M+116.6%	-$74.7M+36.8%	-$118.2M
EPS (Diluted)	$-7.38-0.8%	$-7.32-2811.1%	$0.27-74.3%	$1.05+179.5%	$-1.32+38.9%	$-2.16

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VSA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$15.2M+10.5%	$13.8M-90.4%	$143.4M-26.0%	$193.9M-24.7%	$257.6M-14.2%	$300.3M
Current Assets	$7.9M+2.4%	$7.7M-90.2%	$79.0M-18.4%	$96.8M-0.4%	$97.2M+18.3%	$82.2M
Cash & Equivalents	$7.9M+18.8%	$6.6M-83.2%	$39.4M-23.7%	$51.6M-16.0%	$61.5M+9.3%	$56.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$10.0M+31.0%	$7.6M+51.3%	$5.0M
Goodwill	N/A	N/A	$7.0M-9.1%	$7.7M-7.6%	$8.3M+2.4%	$8.1M
Total Liabilities	$546K-99.8%	$260.9M-26.5%	$354.9M-13.9%	$412.4M-18.7%	$507.5M+6.9%	$474.9M
Current Liabilities	$546K-99.8%	$248.4M-26.9%	$339.6M-11.8%	$385.2M-16.5%	$461.4M+12.8%	$409.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$14.7M+105.9%	-$247.0M-17.1%	-$211.0M+3.0%	-$217.5M+12.5%	-$248.6M-43.3%	-$173.5M
Retained Earnings	-$185.3M+55.1%	-$413.0M-20.8%	-$342.0M+3.2%	-$353.3M+10.7%	-$395.5M-26.1%	-$313.5M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20
Total Assets	$15.2M+111.5%	$7.2M-47.7%	$13.8M-85.1%	$92.7M-35.3%	$143.4M-26.0%	$193.9M-24.7%	$257.6M-14.2%	$300.3M
Current Assets	$7.9M+591.6%	$1.1M-85.2%	$7.7M-75.6%	$31.6M-60.0%	$79.0M-18.4%	$96.8M-0.4%	$97.2M+18.3%	$82.2M
Cash & Equivalents	$7.9M+2179.1%	$345K-94.8%	$6.6M-58.5%	$15.9M-59.5%	$39.4M-23.7%	$51.6M-16.0%	$61.5M+9.3%	$56.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$10.0M+31.0%	$7.6M+51.3%	$5.0M
Goodwill	N/A	N/A	N/A	$6.8M-2.3%	$7.0M-9.1%	$7.7M-7.6%	$8.3M+2.4%	$8.1M
Total Liabilities	$546K-99.8%	$255.1M-2.2%	$260.9M-5.5%	$276.0M-22.2%	$354.9M-13.9%	$412.4M-18.7%	$507.5M+6.9%	$474.9M
Current Liabilities	$546K-99.8%	$255.1M+2.7%	$248.4M-3.8%	$258.2M-24.0%	$339.6M-11.8%	$385.2M-16.5%	$461.4M+12.8%	$409.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$14.7M+105.9%	-$247.8M-0.3%	-$247.0M-34.8%	-$183.2M+13.2%	-$211.0M+3.0%	-$217.5M+12.5%	-$248.6M-43.3%	-$173.5M
Retained Earnings	-$185.3M+55.8%	-$419.3M-1.5%	-$413.0M-18.0%	-$349.9M-2.3%	-$342.0M+3.2%	-$353.3M+10.7%	-$395.5M-26.1%	-$313.5M

VSA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$26.9M-61.6%	-$16.6M+0.7%	-$16.8M-319.6%	-$4.0M-395.3%	$1.4M+108.1%	-$16.7M
Capital Expenditures	$10.9M	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	-$37.8M	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$10.9M+12.3%	-$12.5M-222.9%	$10.1M+408.2%	-$3.3M-162.3%	$5.3M+5334.7%	-$101K
Financing Cash Flow	$20.0M+1242.7%	$1.5M+129.5%	-$5.0M-1547.4%	-$306K-108.4%	$3.6M+134.8%	-$10.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$1.0M+194.7%	$342K-86.2%	$2.5M	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VSA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	22.1%	N/A	45.4%-11.8pp	57.2%+7.6pp	49.7%+5.9pp	43.8%
Operating Margin	-3836.9%	N/A	1.0%-2.8pp	3.8%+19.2pp	-15.5%+27.0pp	-42.5%
Net Margin	N/A	N/A	0.8%-2.7pp	3.5%+23.4pp	-19.9%+20.7pp	-40.6%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	1.0%-5.4pp	6.4%+35.4pp	-29.0%+10.4pp	-39.4%
Current Ratio	14.44+14.4	0.03-0.2	0.23-0.0	0.25+0.0	0.210.0	0.20
Debt-to-Equity	0.04	N/A	N/A	N/A	N/A	N/A
FCF Margin	-25371.1%	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	14.44+14.4	0.00-0.0	0.03-0.1	0.12-0.1	0.23-0.0	0.25+0.0	0.210.0	0.20
Debt-to-Equity	0.04	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is VisionSys AI Inc's annual revenue?

VisionSys AI Inc (VSA) reported $149K in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

What is VisionSys AI Inc's EBITDA?

VisionSys AI Inc (VSA) had EBITDA of -$5.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is VisionSys AI Inc's gross margin?

VisionSys AI Inc (VSA) had a gross margin of 22.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is VisionSys AI Inc's operating margin?

VisionSys AI Inc (VSA) had an operating margin of -3836.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is VisionSys AI Inc's free cash flow?

VisionSys AI Inc (VSA) generated -$37.8M in free cash flow during fiscal year 2025. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is VisionSys AI Inc's operating cash flow?

VisionSys AI Inc (VSA) generated -$26.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are VisionSys AI Inc's total assets?

VisionSys AI Inc (VSA) had $15.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are VisionSys AI Inc's capital expenditures?

VisionSys AI Inc (VSA) invested $10.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does VisionSys AI Inc have outstanding?

VisionSys AI Inc (VSA) had 560M shares outstanding as of fiscal year 2025.

What is VisionSys AI Inc's current ratio?

VisionSys AI Inc (VSA) had a current ratio of 14.44 as of fiscal year 2025, which is generally considered healthy.

What is VisionSys AI Inc's debt-to-equity ratio?

VisionSys AI Inc (VSA) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is VisionSys AI Inc's cash runway?

Based on fiscal year 2025 data, VisionSys AI Inc (VSA) had $7.9M in cash against an annual operating cash burn of $26.9M. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is VisionSys AI Inc's Altman Z-Score?

VisionSys AI Inc (VSA) has an Altman Z-Score of -7.11, 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.