NASDAQ : VS
Versus Systems Inc. — Financial statements
Technology · Software - Application · United States
Last price 0.8227 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 5.11M
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Financial statements
Versus Systems Inc. (VS) reported revenue of 1.51M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.51M | 2.18M | 57.29K | 271.17K | 1.11M | 768.65K |
| Cost of Revenue | 16.45K | 40.28K | 103.07K | 617.05K | 615.12K | |
| Gross Profit | 1.51M | 2.17M | 17.01K | 168.10K | 491.79K | 153.53K |
| Selling, General & Admin | 3.63M | 4.28M | 4.31M | 5.94M | 11.84M | 9.93M |
| Research & Development | 35.70K | 48.06K | 246.02K | 1.11M | 2.41M | |
| Amortization of Goodwill & Intangibles | 2.01M | |||||
| Operating Expenses | 3.66M | 4.33M | 4.56M | 7.05M | 14.24M | 14.39M |
| Operating Income | -2.15M | -2.16M | -4.54M | -6.88M | -13.75M | -14.24M |
| Interest Expense | -378.62K | |||||
| Currency Exchange Gain (Loss) | -1.09M | |||||
| Other Non Operating Income (Expenses) | -1.77K | 18.17K | -11.38K | -13.89K | 198.15K | -2.02M |
| EBT Excluding Unusual Items | -2.15M | -2.14M | -4.55M | -6.90M | -13.55M | -17.73M |
| Impairment of Goodwill | -6.58M | |||||
| Gain (Loss) on Sale of Investments | -116.15K | |||||
| Asset Writedown | -3.97M | -2.34M | ||||
| Other Unusual Items | 354.11K | |||||
| Pretax Income | -2.15M | -2.14M | -4.55M | -10.51M | -22.47M | -17.85M |
| Income Tax Expense | 1.60K | 1.60K | 24.23K | |||
| Earnings From Continuing Operations | -2.16M | -2.14M | -4.57M | -10.51M | -22.47M | -17.85M |
| Minority Interest in Earnings | 442.48K | 352.57K | 532.50K | 985.16K | 3.45M | |
| Net Income | -1.71M | -1.79M | -4.04M | -9.53M | -22.47M | -14.40M |
| Net Income to Common | -1.71M | -1.79M | -4.04M | -9.53M | -22.47M | -14.40M |
| Shares Outstanding (Basic) | 4.92M | 4.90M | 2.63M | 912.72K | 103.77K | 59.55K |
| Shares Outstanding (Diluted) | 4.92M | 4.90M | 2.63M | 912.72K | 103.77K | 59.55K |
| EPS (Basic) | -0.35 | -0.37 | -1.54 | -10.44 | -216.56 | -241.79 |
| EPS (Diluted) | -0.35 | -0.37 | -1.54 | -10.44 | -216.56 | -241.79 |
| Free Cash Flow | -875.09K | -2.05M | -4.97M | -5.58M | -9.19M | -12.97M |
| Free Cash Flow Per Share | -0.18 | -0.42 | -1.89 | -6.12 | -88.59 | -217.75 |
| Gross Margin | 100.00% | 99.25% | 29.69% | 61.99% | 44.35% | 19.97% |
| Operating Margin | -142.20% | -98.99% | -7,923.52% | -2,538.65% | -1,240.25% | -1,852.79% |
| Profit Margin | -113.18% | -82.08% | -7,056.16% | -3,513.31% | -2,026.73% | -1,873.29% |
| Free Cash Flow Margin | -57.83% | -94.02% | -8,678.86% | -2,058.55% | -829.13% | -1,687.07% |
| EBITDA | -2.16M | -4.54M | -4.42M | -13.19M | -13.71M | |
| EBITDA Margin | -98.91% | |||||
| D&A For EBITDA | 1.69K | 1.69K | 2.47M | 559.35K | 533.45K | |
| EBIT | -2.15M | -2.16M | -4.54M | -6.88M | -13.75M | -14.24M |
| EBIT Margin | -142.20% | -98.99% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.36M | 527.39K | 3.07M | 4.69M | 1.18M | 1.68M |
| Cash & Short-Term Investments | 1.36M | 527.39K | 3.07M | 4.69M | 1.18M | 1.68M |
| Accounts Receivable | 1.60M | 836.00K | 18.22K | 46.59K | 90.81K | |
| Other Receivables | 14.16K | 32.81K | ||||
| Receivables | 1.60M | 836.00K | 18.22K | 60.75K | 123.62K | |
| Prepaid Expenses | 91.29K | 88.67K | 469.65K | 160.47K | 223.23K | 377.93K |
| Other Current Assets | 174.81K | |||||
| Total Current Assets | 3.05M | 1.45M | 3.54M | 4.87M | 1.46M | 2.35M |
| Property, Plant & Equipment | 1.94K | 93.97K | 326.94K | |||
| Goodwill | 6.58M | |||||
| Other Intangible Assets | 1.26M | 609.00K | 6.39M | 9.17M | ||
| Other Long-Term Assets | 8.68K | 108.49K | 109.07K | |||
| Total Assets | 4.31M | 2.06M | 3.54M | 4.88M | 8.06M | 18.54M |
| Accounts Payable | 26.29K | 82.58K | 138.28K | 386.03K | ||
| Accrued Expenses | 761.50K | 142.76K | 26.35K | 79.11K | 143.49K | |
| Current Portion of Long-Term Debt | 2.60M | 2.11M | ||||
| Current Portion of Leases | 128.56K | 239.32K | ||||
| Current Unearned Revenue | 35.05K | 69.28K | 193.50K | |||
| Other Current Liabilities | 177.50K | 304.62K | 302.88K | |||
| Total Current Liabilities | 761.50K | 142.76K | 26.29K | 321.48K | 3.32M | 3.37M |
| Long-Term Debt | 678.51K | |||||
| Long-Term Leases | 128.56K | |||||
| Other Long-Term Liabilities | 361.06K | |||||
| Total Liabilities | 761.50K | 142.76K | 26.29K | 321.48K | 3.32M | 4.54M |
| Common Stock | 152.75M | 151.02M | 150.59M | 147.13M | 136.86M | 110.23M |
| Retained Earnings | -141.48M | -141.27M | -139.48M | -135.43M | -125.91M | -101.00M |
| Comprehensive Income & Other | 561.52K | 442.00K | 318.66K | 248.29K | 154.97K | 13.36M |
| Total Common Equity | 11.84M | 10.19M | 11.43M | 11.94M | 11.11M | 22.60M |
| Minority Interest | -8.29M | -8.27M | -7.92M | -7.39M | -6.40M | -8.62M |
| Shareholders' Equity | 3.55M | 1.92M | 3.51M | 4.56M | 4.73M | 14.00M |
| Total Liabilities & Equity | 4.31M | 2.06M | 3.54M | 4.88M | 8.06M | 18.54M |
| Total Debt | 2.73M | 3.15M | ||||
| Net Cash (Debt) | 1.36M | 527.39K | 3.07M | 4.69M | -1.55M | -1.48M |
| Net Cash Per Share | 0.28 | 0.11 | 1.17 | 5.14 | -14.98 | -24.78 |
| Filing Date Shares Outstanding | 6.21M | 4.90M | 4.90M | 2.51M | 260.76K | 64.81K |
| Total Common Shares Outstanding | 6.21M | 4.90M | 4.90M | 2.51M | 260.76K | 64.81K |
| Working Capital | 2.29M | 1.31M | 3.51M | 4.55M | -1.86M | -1.02M |
| Book Value Per Share | 1.91 | 2.08 | 2.33 | 4.77 | 42.60 | 348.66 |
| Tangible Book Value | 10.57M | 9.58M | 11.43M | 11.94M | 4.71M | 6.84M |
| Tangible Book Value Per Share | 1.70 | 1.95 | 2.33 | 4.77 | 18.08 | 105.58 |
| Machinery | 24.25K | 246.72K | 181.39K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.71M | -1.79M | -4.04M | -10.51M | -22.47M | -14.40M |
| Depreciation & Amortization | 1.69K | 2.47M | 784.97K | 739.03K | ||
| Other Amortization | 2.25M | 1.61M | ||||
| Loss (Gain) From Sale of Assets | 63.38K | |||||
| Asset Writedown & Restructuring Costs | 3.97M | 8.92M | ||||
| Stock-Based Compensation | 80.05K | 430.43K | 160.87K | -1.45M | 1.57M | 2.35M |
| Other Operating Activities | -442.48K | -352.57K | -514.71K | -49.50K | -230.13K | -2.31M |
| Change in Accounts Receivable | 384.00K | -836.00K | 18.22K | 42.53K | 62.87K | 378.98K |
| Change in Accounts Payable | 727.31K | 116.47K | -260.14K | -239.07K | -61.11K | -1.15M |
| Change in Unearned Revenue | -35.05K | -34.23K | -124.23K | 70.33K | ||
| Change in Other Net Operating Assets | 88.69K | 380.97K | -300.49K | 162.75K | 154.70K | -183.39K |
| Operating Cash Flow | -875.09K | -2.05M | -4.97M | -5.58M | -9.15M | -12.89M |
| Capital Expenditures | -40.21K | -74.48K | ||||
| Sale of Property, Plant & Equipment | 4.90K | |||||
| Cash Acquisitions | -85.10K | |||||
| Sale (Purchase) of Intangibles | -1.26M | -609.00K | -19.41K | -2.50M | -2.35M | |
| Investing Cash Flow | -1.26M | -609.00K | -14.51K | -2.54M | -2.51M | |
| Long-Term Debt Issued | 2.50M | |||||
| Long-Term Debt Repaid | -2.65M | -324.00K | -744.32K | |||
| Lease Payments | -128.56K | -260.19K | -282.09K | |||
| Net Debt Issued (Repaid) | 2.50M | -2.65M | -324.00K | -744.32K | ||
| Issuance of Common Stock | 1.70M | 885.00K | 12.37M | 13.25M | 16.88M | |
| Other Financing Activities | -106.77K | -679.89K | -1.74M | -1.33M | ||
| Financing Cash Flow | 1.70M | 3.28M | 9.05M | 11.19M | 14.80M | |
| Foreign Exchange Rate Adjustments | 117.55K | 123.34K | 70.62K | 61.23K | ||
| Net Cash Flow | -320.54K | -2.54M | -1.62M | 3.51M | -499.31K | -605.11K |
| Free Cash Flow | -875.09K | -2.05M | -4.97M | -5.58M | -9.19M | -12.97M |
| Free Cash Flow Margin | -57.83% | -94.02% | -8,678.86% | -2,058.55% | -829.13% | -1,687.07% |
| Free Cash Flow Per Share | -0.18 | -0.42 | -1.89 | -6.12 | -88.59 | -217.75 |
| Levered Free Cash Flow | -1.33M | -1.87M | -3.26M | -3.47M | -6.58M | -7.10M |
| Unlevered Free Cash Flow | -1.33M | -1.87M | -3.26M | -3.47M | -6.58M | -6.86M |
| Free Cash Flow After Leases | -875.09K | -2.05M | -4.97M | -5.71M | -9.45M | -13.25M |
| Change in Working Capital | 1.20M | -338.56K | -577.46K | -68.02K | 32.23K | -886.25K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.84M | 5.97M | 6.04M | 7.59M | 2.03M | 32.66M |
| Enterprise Value | 3.48M | -3.50M | -2.11M | 244.25K | -2.14M | 23.65M |
| Last Close Price | 0.82 | 1.22 | 2.20 | 3.03 | 7.77 | 504.00 |
| PS Ratio | 3.38 | 2.73 | 105.47 | 28.00 | 1.83 | 42.49 |
| PB Ratio | 0.43 | 3.11 | 1.72 | 1.67 | 0.43 | 2.33 |
| P/TBV Ratio | 0.48 | 0.62 | 0.53 | 0.64 | 0.43 | 4.77 |
| EV/Sales Ratio | 2.48 | 0.90 | 30.77 | |||
| Debt / Equity Ratio | 0.58 | 0.23 | ||||
| Net Debt / Equity Ratio | -0.38 | -0.28 | -0.87 | -1.03 | 0.33 | 0.10 |
| Net Debt / EBITDA Ratio | 0.24 | 0.68 | 1.06 | -0.12 | -0.11 | |
| Net Debt / FCF Ratio | 1.56 | 0.26 | 0.62 | 0.84 | -0.17 | -0.11 |
| Asset Turnover | 0.37 | 0.78 | 0.01 | 0.04 | 0.08 | 0.06 |
| Quick Ratio | 3.88 | 9.55 | 116.63 | 14.64 | 0.37 | 0.53 |
| Current Ratio | 4.00 | 10.17 | 134.49 | 15.14 | 0.44 | 0.70 |
| Return on Equity (ROE) | -58.58% | -79.03% | -113.43% | -226.29% | -239.88% | -277.48% |
| Return on Assets (ROA) | -32.98% | -48.27% | -67.44% | -66.52% | -64.62% | -74.07% |
| Return on Capital Employed (ROCE) | -60.60% | -112.70% | -129.30% | -151.10% | -290.50% | -93.90% |
| Earnings Yield | -44.72% | -30.04% | -66.90% | -125.46% | -1,109.45% | -44.08% |
| FCF Yield | -17.12% | -34.41% | -82.29% | -73.51% | -453.87% | -39.70% |
| Buyback Yield / Dilution | -28.49% | -86.50% | -187.96% | -779.53% | -74.26% | -46.97% |