Every 10-Q that Versus Systems Inc. (VSSYW) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow VSSYW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full VSSYW filings page.
Versus Systems Inc. recognized $1,980,000 of revenue in the quarter ended June 30, 2025 related to a non-cancellable license agreement with ASPIS, of which $330,000 was billed and recorded as accounts receivable (two months of license fees at $165,000 per month) and $1,650,000 was recorded as a contract asset for the unbilled portion of the initial twelve-month term to be invoiced over the remaining contract term. No allowance for credit losses on these amounts was recorded as of June 30, 2025 or December 31, 2024.
The company reports 4,901,677 common shares outstanding as of June 30, 2025. Share-based compensation recognized for the six months ended June 30, 2025 was $387,476 (compared with $160,865 in the prior year period) and the remaining unrecognized share-based compensation is $235,843 expected to vest over ~2.75 years. Versus reported net income (loss) attributable to non-controlling interest and Versus, LLC results for comparable periods, including a three-month non-controlling interest income of $270,126 for June 30, 2025 and $(156,197) for June 30, 2024.
Versus Systems reported results for the quarter ended June 30, 2025. The company recognized a related-party functional license to ASPIS Cyber Technologies totaling $1,980,000 (monthly fees of $165,000), recording $1,650,000 as a contract asset and $330,000 as accounts receivable. That license produced a Q2 net income of $942,461 and net income attributable to shareholders of $672,335 (basic and diluted EPS $0.14).
For the six months ended June 30, 2025 the company reported a net loss of $214,016 (EPS ($0.06)), cash of $1.68 million and working capital of $3.81 million. Management discloses substantial doubt about the company’s ability to continue as a going concern, notes reduced headcount and expense-reduction measures, intends to seek additional funding, and is not in compliance with certain Nasdaq listing standards.