Versus Systems Inc
VS—
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Versus Systems Inc AI Insights
Informational only. Not investment advice.Snapshot
- Cash burn of -2.5M FCF TTM against 1.4M cash = ~7 months runway without financing[Free Cash Flow TTM]
- Operating margin -92% TTM on 2.2M revenue - losing $0.92 for every $1 earned[Operating Margin TTM]
- Zero debt with 11.1M equity but burning 22% of equity annually[Debt to Equity]
Watch Triggers
- Cash and Equivalents: Falls below 500K or financing announced — Sub-500K triggers immediate survival mode; any raise likely heavily dilutive
- Total Revenue TTM: Quarterly run-rate exceeds 1M — 4M annual revenue could halve cash burn and extend runway meaningfully
- Operating Expense TTM: Drops below 3M annually — Cost cuts extending runway would signal management prioritizing survival
Bull Case
Gross margin 99% TTM shows near-zero COGS - if revenue scales, operating leverage could flip profitability rapidly
Gross Margin TTMGross Profit 1Y Growth TTM
Zero debt, 2.8M working capital provides flexibility; 77% gross profit growth shows traction
Debt to EquityWorking CapitalGross Profit 1Y Growth TTM
Bear Case
~7 months cash runway at current burn; dilutive financing or failure likely without dramatic revenue acceleration
Cash and EquivalentsFree Cash Flow TTM
Revenue 2.2M is 0.4% of industry median (524M) - subscale with no path to profitability visible
Total Revenue TTMOperating Income TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
20%
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Forward Thesis
Company faces existential cash crisis within 12 months without capital raise or revenue inflection
3-12mhigh
- FCF burn rate of -2.5M/year vs 1.4M cash
- Revenue only 2.2M TTM despite 23% growth
- OpEx of 4.2M TTM unsustainable at current scale
Cash: 1.4M, FCF: -2.5M TTMRevenue 23% growth but still micro-capOperating loss -2.0M TTM
Valuation Context
Caveats
Public Strategies Rankings
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VS Fundamentals
Information → Software Publishers
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$5.39M | — | ||
$3.99M | — | ||
0.00 | — | ||
$2.18M | +2281.7% | — | |
$-0.42 | — | ||
-91.8% | +5417.3% | — | |
-75.1% | +9786.2% | — | |
$-2.5M | — | ||
-16.3% | +67.6% | — | |
Beta 5Y (Monthly) | unknown | — |
VS Dividend History
No dividends
VS Stock Splits
2 stock splits
12/29/2316:1 split
11/09/2215:1 split
VS SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/14/25 | 09/30/25 | 10-Q | |
08/14/25 | 06/30/25 | 10-Q | |
05/15/25 | 03/31/25 | 10-Q | |
03/31/25 | 12/31/24 | 10-K | |
11/14/24 | 09/30/24 | 10-Q | |
08/14/24 | 06/30/24 | 10-Q | |
05/15/24 | 03/31/24 | 10-Q | |
04/01/24 | 12/31/23 | 10-K | |
11/14/23 | 09/30/23 | 6-K | |
08/14/23 | 06/30/23 | 6-K | |
05/15/23 | 03/31/23 | 6-K | |
03/29/23 | 12/31/22 | 20-F | |
11/14/22 | 09/30/22 | 6-K | |
08/15/22 | 06/30/22 | 6-K | |
05/17/22 | 03/31/22 | 6-K | |
04/01/22 | 12/31/21 | 20-F | |
11/17/21 | 09/30/21 | 6-K | |
08/16/21 | 06/30/21 | 6-K | |
05/19/21 | 03/31/21 | 6-K | |
05/05/21 | 12/31/20 | 20-F | |
11/30/20 | 09/30/20 | Quarterly | -- |
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