Versus Systems Inc. (VS) Income Statement
VS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVS revenue and net income
Where VS's revenue goes
2025Each bar shows an amount and its share of revenue. VS kept −82.1% of revenue as net income.
VS profit margins
VS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3,713.9% | — | — | — |
| Gross profit | +12,647.6% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VS quarterly EPS vs estimates
Versus Systems beat the analyst EPS estimate in 2 of the last 5 quarters. Next report: November 13, 2026.
VS income statement
| 2025 | 2024 | |
|---|---|---|
| Revenue | $2.2M | $57,249 |
| Cost of revenue | $16,446 | $40,249 |
| Gross profit | $2.2M | $16,999 |
| Research & development | $48,065 | $245,853 |
| Sales, general & admin | $5.9M | $4.3M |
| Total operating expenses | $4.3M | $4.6M |
| Operating income | −$2.2M | −$4.5M |
| Income before taxes | −$2.1M | −$4.5M |
| Income taxes | $1,596 | $24,209 |
| Net income | −$1.8M | −$4.0M |
| EBITDA | −$2.2M | −$4.5M |
| EPS (diluted) | −$0.37 | −$1.94 |
| Gross margin | 99.2% | 29.7% |
| Operating margin | −99.0% | −7,923.6% |
| Net margin | −82.1% | −7,056.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5M | $17,300 | $4,067 | $0 | $2.0M | $199,347 | $1,202 | $34,216 |
| Cost of revenue | $0 | $0 | $0 | $0 | $8,222 | $8,223 | $601 | — |
| Gross profit | $1.5M | $17,300 | $4,067 | $0 | $2.0M | $191,124 | $601 | — |
| Research & development | $0 | $21,227 | $21,227 | $14,470 | $6,219 | $6,149 | $127,856 | — |
| Sales, general & admin | $897,548 | $835,995 | $1.2M | $741,931 | $1.0M | $1.4M | $881,165 | $2.4M |
| Total operating expenses | $897,548 | $835,995 | $1.2M | $1.1M | $1.0M | $1.4M | $1.0M | $1.5M |
| Operating income | $594,273 | −$818,695 | −$1.2M | −$1.1M | $938,801 | −$1.2M | −$1.0M | −$1.4M |
| Income before taxes | $594,273 | −$818,695 | −$1.2M | −$1.1M | $942,461 | −$1.2M | −$1.0M | −$5.3M |
| Income taxes | — | −$672,335 | — | $2,220 | — | — | $24,226 | — |
| Net income | $473,297 | −$683,200 | −$964,939 | −$748,342 | $672,335 | −$961,746 | −$511,611 | −$5.3M |
| EBITDA | $594,273 | −$818,695 | −$1.2M | −$1.1M | $938,801 | −$1.2M | −$1.0M | — |
| EPS (diluted) | $0.10 | −$0.14 | −$0.20 | −$0.11 | $0.14 | −$0.20 | −$0.17 | −$3.08 |
| Gross margin | 100.0% | 100.0% | 100.0% | — | 99.6% | 95.9% | 50.0% | — |
| Operating margin | 39.8% | −4,732.3% | −28,791.5% | — | 47.4% | −588.3% | −83,951.6% | −4,185.7% |
| Net margin | 31.7% | −3,949.1% | −23,726.1% | — | 34.0% | −482.4% | −42,563.3% | −15,493.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VS's financial statements (latest annual report filed April 15, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VS financial results
In fiscal year 2025 (ended December 31, 2025), Versus Systems reported revenue of $2.2 million, up 3,713.9% from the year before. It had a net loss of $1.8 million, a net profit margin of −82.1%. Diluted earnings per share came to −$0.37.
See the VS stock overview for the latest quote and news, or the VS chart for price history and technical indicators.
VS income statement FAQ
What is Versus Systems's annual revenue?
Versus Systems reported total revenue of $2.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 3,713.9% from $0.1 million the previous year.
Is Versus Systems profitable?
No. Versus Systems reported a net loss of $1.8 million in fiscal 2025, a net profit margin of −82.1%; its operating margin was −99.0%.
What is Versus Systems's gross margin?
Versus Systems's gross margin was 99.2% in fiscal 2025: for every $100 of revenue, Versus Systems kept $99 after the direct cost of its products and services.
How much does Versus Systems spend on research and development?
Versus Systems spent $0.0 million on research and development in fiscal 2025, 2.2% of revenue.
What are Versus Systems's earnings per share?
Versus Systems earned $-0.37 per diluted share in fiscal 2025, compared with $-1.94 a year earlier.
When will Versus Systems report its next earnings?
Versus Systems is expected to report results for the quarter ending September 30, 2026 on November 13, 2026.
When does Versus Systems's fiscal year end?
Versus Systems's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 15, 2026.