Versus Systems Financials
This page shows Versus Systems (VSSYW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Financial Health Signals
Based on FY2024 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Versus Systems'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 has an operating margin of -7923.5%, meaning the company retains $-7924 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -4002.1% the prior year.
Versus Systems's revenue declined 78.9% year-over-year, from $271K to $57K. This contraction results in a growth score of 0/100.
With a current ratio of 134.49, Versus Systems holds $134.49 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Versus Systems generates a -35.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -79.8% the prior year.
Versus Systems passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Versus Systems generates $1.23 in operating cash flow (-$5.0M OCF vs -$4.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Versus Systems earns $-255.1 in operating income for every $1 of interest expense (-$4.5M vs $18K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Versus Systems generated $57K in revenue in fiscal year 2024. This represents a decrease of 78.9% from the prior year.
Versus Systems's EBITDA was -$4.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 45.9% from the prior year.
Versus Systems reported -$4.0M in net income in fiscal year 2024. This represents an increase of 57.6% from the prior year.
Versus Systems earned $-1.54 per diluted share (EPS) in fiscal year 2024. This represents an increase of 85.2% from the prior year.
Cash & Balance Sheet
Versus Systems held $3.1M in cash against $0 in long-term debt as of fiscal year 2024.
Versus Systems had 5M shares outstanding in fiscal year 2024. This represents an increase of 95.6% from the prior year.
Margins & Returns
Versus Systems's gross margin was 29.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 32.3 percentage points from the prior year.
Versus Systems's operating margin was -7923.5% in fiscal year 2024, reflecting core business profitability. This is down 3921.5 percentage points from the prior year.
Versus Systems's net profit margin was -7056.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 3542.8 percentage points from the prior year.
Versus Systems's ROE was -35.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 44.4 percentage points from the prior year.
Capital Allocation
Versus Systems invested $246K in research and development in fiscal year 2024. This represents a decrease of 77.8% from the prior year.
VSSYW Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $2.0M+893.2% | $199K | $0-100.0% | $4K-85.7% | $27K+1.6% | $27K | N/A |
| Cost of Revenue | N/A | $8K0.0% | $8K | N/A | N/A | $16K-32.5% | $24K | N/A |
| Gross Profit | N/A | $2.0M+931.7% | $191K | $0-100.0% | $4K-64.1% | $11K+335.7% | $2K | N/A |
| R&D Expenses | $14K+132.7% | $6K+1.1% | $6K-95.2% | $128K+1016.2% | $11K-82.9% | $67K+70.5% | $39K | N/A |
| SG&A Expenses | $742K-27.7% | $1.0M-24.4% | $1.4M+54.1% | $881K+69.0% | $521K-63.9% | $1.4M-1.5% | $1.5M | N/A |
| Operating Income | -$756K-180.6% | $939K+180.1% | -$1.2M-16.2% | -$1.0M-90.7% | -$529K+64.7% | -$1.5M+0.1% | -$1.5M | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Income Tax | $2K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$538K-180.0% | $672K+169.9% | -$962K-18.8% | -$810K-44.3% | -$561K+58.3% | -$1.3M-1.1% | -$1.3M | N/A |
| EPS (Diluted) | N/A | $0.14+170.0% | $-0.20 | N/A | $-0.22+59.3% | $-0.54-5.9% | $-0.51 | N/A |
VSSYW Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.1M-20.0% | $3.8M+40.8% | $2.7M-22.8% | $3.5M+184.5% | $1.2M-32.1% | $1.8M-45.4% | $3.4M-31.2% | $4.9M |
| Current Assets | $2.8M-27.8% | $3.8M+40.8% | $2.7M-22.8% | $3.5M+184.5% | $1.2M-32.1% | $1.8M-45.3% | $3.3M-31.3% | $4.9M |
| Cash & Equivalents | $1.4M-16.4% | $1.7M-30.8% | $2.4M-20.7% | $3.1M+550.6% | $471K-48.0% | $906K-68.7% | $2.9M-38.3% | $4.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | $330K | N/A | N/A | N/A | $10K+164.6% | $4K-55.4% | $9K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | -$8.1M-3.2% | -$7.8M+3.7% | -$8.1M-2.8% | -$7.9M-3.1% | -$7.7M+0.3% | -$7.7M-4.1% | -$7.4M-4.5% | -$7.1M |
| Current Liabilities | $2K-92.7% | $34K+1558.0% | $2K-92.2% | $26K-2.4% | $27K-18.2% | $33K-81.6% | $179K-44.3% | $321K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $11.1M-4.4% | $11.7M+7.5% | $10.8M-5.1% | $11.4M+28.4% | $8.9M-6.4% | $9.5M-11.4% | $10.7M-10.1% | $11.9M |
| Retained Earnings | -$140.3M-0.4% | -$139.8M+0.5% | -$140.4M-0.7% | -$139.5M-0.6% | -$138.7M-0.4% | -$138.1M-1.0% | -$136.8M-1.0% | -$135.4M |
VSSYW Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $25K+102.8% | -$868K-35.2% | -$641K+10.5% | -$717K-88.1% | -$381K+82.0% | -$2.1M-20.4% | -$1.8M-43.3% | -$1.2M |
| 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 | -$408 |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $3.7M |
| 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 |
VSSYW Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | 99.6%+3.7pp | 95.9% | N/A | 100.0%+60.3pp | 39.7%+30.5pp | 9.3% | N/A |
| Operating Margin | N/A | 47.4%+635.7pp | -588.3% | N/A | -13748.0%-8180.7pp | -5567.3%+97.8pp | -5665.1% | N/A |
| Net Margin | N/A | 34.0%+516.4pp | -482.4% | N/A | -14575.6%-9587.9pp | -4987.7%+24.5pp | -5012.2% | N/A |
| Return on Equity | -4.8%-10.6pp | 5.8%+14.6pp | -8.9%-1.8pp | -7.1%-0.8pp | -6.3%+7.8pp | -14.1%-1.7pp | -12.4% | N/A |
| Return on Assets | -17.5%-35.0pp | 17.5%+52.8pp | -35.3%-12.3pp | -22.9%+22.2pp | -45.1%+28.3pp | -73.4%-33.8pp | -39.6% | N/A |
| Current Ratio | 1116.66+1004.3 | 112.39-1210.9 | 1323.28+1188.8 | 134.49+88.4 | 46.13-9.4 | 55.56+36.9 | 18.69+3.5 | 15.14 |
| Debt-to-Equity | -0.72-0.1 | -0.67+0.1 | -0.75-0.1 | -0.69+0.2 | -0.86-0.1 | -0.81-0.1 | -0.69-0.1 | -0.59 |
| 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 Versus Systems's annual revenue?
Versus Systems (VSSYW) reported $57K in total revenue for fiscal year 2024. This represents a -78.9% 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's revenue growing?
Versus Systems (VSSYW) revenue declined by 78.9% year-over-year, from $271K to $57K in fiscal year 2024.
Is Versus Systems profitable?
No, Versus Systems (VSSYW) reported a net income of -$4.0M in fiscal year 2024, with a net profit margin of -7056.2%.
What is Versus Systems's EBITDA?
Versus Systems (VSSYW) had EBITDA of -$4.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Versus Systems's gross margin?
Versus Systems (VSSYW) had a gross margin of 29.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Versus Systems's operating margin?
Versus Systems (VSSYW) had an operating margin of -7923.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Versus Systems's net profit margin?
Versus Systems (VSSYW) had a net profit margin of -7056.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Versus Systems's return on equity (ROE)?
Versus Systems (VSSYW) has a return on equity of -35.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Versus Systems's operating cash flow?
Versus Systems (VSSYW) generated -$5.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Versus Systems's total assets?
Versus Systems (VSSYW) had $3.5M in total assets as of fiscal year 2024, including both current and long-term assets.
How much does Versus Systems spend on research and development?
Versus Systems (VSSYW) invested $246K in research and development during fiscal year 2024.
What is Versus Systems's current ratio?
Versus Systems (VSSYW) had a current ratio of 134.49 as of fiscal year 2024, which is generally considered healthy.
What is Versus Systems's debt-to-equity ratio?
Versus Systems (VSSYW) had a debt-to-equity ratio of -0.69 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Versus Systems's return on assets (ROA)?
Versus Systems (VSSYW) had a return on assets of -114.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Versus Systems's cash runway?
Based on fiscal year 2024 data, Versus Systems (VSSYW) had $3.1M in cash against an annual operating cash burn of $5.0M. This gives an estimated cash runway of approximately 7 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 Versus Systems's Piotroski F-Score?
Versus Systems (VSSYW) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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's earnings high quality?
Versus Systems (VSSYW) has an earnings quality ratio of 1.23x, considered low quality (accrual-driven). 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.
Can Versus Systems cover its interest payments?
Versus Systems (VSSYW) has an interest coverage ratio of -255.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Versus Systems?
Versus Systems (VSSYW) scores 17 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.