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Versus Systems Inc.

VS Clue Score54
British Columbia, Canada Fiscal year ends December CIK 0001701963
$1.04 -0.95% Close, 12 Oct 2026
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Price $1.04 −69.05% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 15 Jan 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Fiscal year 2019Revenue0.5Net income−7.3EPS, diluted−0.74Fiscal year 2020Revenue1.4 +177.4%Net income−6.9EPS, diluted−8.85Fiscal year 2021Revenue0.8 −44.7%Net income−17.8EPS, diluted−15.11Fiscal year 2022Revenue1.1 +44.3%Operating income−22.7Net income−22.5EPS, diluted−192.89Fiscal year 2023Revenue0.3 −75.5%Operating income−10.9Net income−9.5EPS, diluted−10.44Fiscal year 2024Revenue0.1 −78.9%Operating income−4.5Net income−4.0EPS, diluted−1.54Fiscal year 2025Revenue2.2 +3,711.3%Operating income−2.2Net income−1.8EPS, diluted−0.37
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a 0.5 1.4 0.8 1.1 0.3 0.1 2.2
Growth +177.4% −44.7% +44.3% −75.5% −78.9% +3,711.3%
Operating income n/a n/a n/a n/a −22.7 −10.9 −4.5 −2.2
Net income n/a −7.3 −6.9 −17.8 −22.5 −9.5 −4.0 −1.8
Growth
EPS, diluted n/a −0.74 −8.85 −15.11 −192.89 −10.44 −1.54 −0.37

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Fiscal year 2019Net margin−1,447.9%Fiscal year 2020Net margin−497.2%Fiscal year 2021Net margin−2,322.0%Fiscal year 2022Gross margin44.4%Operating margin−2,044.6%Net margin−2,026.7%Free cash flow margin−829.1%Fiscal year 2023Gross margin62.0%Operating margin−4,002.1%Net margin−3,513.3%Fiscal year 2024Gross margin29.7%Operating margin−7,923.5%Net margin−7,056.2%Fiscal year 2025Gross margin99.2%Operating margin−99.0%Net margin−82.1%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a n/a 44.4% 62.0% 29.7% 99.2%
Operating margin n/a n/a n/a n/a −2,044.6% −4,002.1% −7,923.5% −99.0%
Net margin n/a −1,447.9% −497.2% −2,322.0% −2,026.7% −3,513.3% −7,056.2% −82.1%
Free cash flow margin n/a n/a n/a n/a −829.1% n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Fiscal year 2019Operating cash flow−4.1Fiscal year 2020Operating cash flow−4.2Fiscal year 2021Operating cash flow−12.9Fiscal year 2022Operating cash flow−9.2Capital expenditure−0.0Free cash flow−9.2Fiscal year 2023Operating cash flow−5.6Fiscal year 2024Operating cash flow−5.0Fiscal year 2025Operating cash flow−2.1
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow n/a −4.1 −4.2 −12.9 −9.2 −5.6 −5.0 −2.1
Capital expenditure n/a n/a n/a n/a −0.0 n/a n/a n/a
Free cash flow n/a n/a n/a n/a −9.2 n/a n/a n/a
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash and securities
Fiscal year 2018Cash and securities0.0Shareholders’ equity−0.6Fiscal year 2019Cash and securities0.1Shareholders’ equity1.5Fiscal year 2020Cash and securities2.3Shareholders’ equity4.1Fiscal year 2021Cash and securities1.7Shareholders’ equity14.0Fiscal year 2022Cash and securities1.2Shareholders’ equity11.1Fiscal year 2023Cash and securities4.7Shareholders’ equity11.9Fiscal year 2024Cash and securities3.1Shareholders’ equity11.4Fiscal year 2025Cash and securities0.5Shareholders’ equity10.2
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and securities 0.0 0.1 2.3 1.7 1.2 4.7 3.1 0.5
Shareholders’ equity −0.6 1.5 4.1 14.0 11.1 11.9 11.4 10.2

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022† 31 Dec 2022 FY2023† 31 Dec 2023 FY2024† 31 Dec 2024 FY2025 31 Dec 2025
Assets
0.0 0.1 2.3 1.7 1.2 4.7 3.1 0.5
n/a 0.0 0.5 0.1 0.1 n/a n/a 0.8
n/a 0.7 0.5 0.3 0.1 0.0 n/a n/a
n/a n/a n/a 6.6 n/a n/a n/a n/a
n/a 3.1 5.5 18.5 8.8 n/a n/a n/a
Growth +76.5% +237.7% −52.5%
Liabilities
n/a n/a n/a n/a 3.3 0.3 0.0 0.1
Equity
n/a −80.8 −86.6 −101.0 −125.9 −135.4 −139.5 −141.3
−0.6 1.5 4.1 14.0 11.1 11.9 11.4 10.2
Growth +167.1% +244.5% −20.3% +7.3% −4.3% −10.8%
Per share and net cash
n/a n/a 10.7 15.6 4.2 2.5 4.9 4.9
calc n/a n/a 0.38 0.90 2.67 4.77 2.33 2.08

† The number of shares outstanding jumps at 2022 and 2023 and 2024, so per-share figures either side of that column are not comparable. Usually a split. This count is a different filed figure from the diluted average on the income statement, so it can break in a different year.

Lines marked calc are worked out here from filed figures; point at one for how.