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Versus Systems Inc. (VS)

Nasdaq: VS · Services-Computer Processing & Data Preparation · Vancouver · filing with the SEC since 2017
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Grade3.9
◀ Past 1.9● Present 3.6▶ Future 6.2
1 est.
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The grade of Versus Systems Inc.

Nine metrics read from its own filings, by tense
Headline grade
3.9/10
◀ Past1.930% of the headline
● Present3.640% of the headline
▶ Future6.230% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

1.9/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
1.9/10

Has it survived what it has been through?

6 warning events since 2017; the latest 2026-05-05.

weight 33% of this tense · 19th percentile among 77 sector filers · read for itself

From the record

Versus Systems Inc.'s filings since 2017 show 6 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, 4 times, the latest 2026-05-05); a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2026-04-01) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.8/10

What has it actually done, year after year?

+25.3% a year over 4 filed years; profitable in 0 of 4.

weight 45% of this tense · 27th percentile among 64 sector filers · read for its customers

From the record

Versus Systems Inc.'s 4 filed years say what it did: revenue went from $1 million in fiscal 2022 to $2 million in fiscal 2025, up 25.3% a year; it rose in 1 of 3 years; the deepest fall was 95% from fiscal 2022 to fiscal 2024; net income was positive in 0 of 4 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span25.3%top 21% of its family
  • the share of years revenue rosebottom 14% of its family
  • the share of filed years with a profitbottom 12% of its family
  • the deepest fall from a revenue peak94.8%bottom 5% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
0.2/10

How has it treated the people who own it?

SI estimate 0.2/10, confidence 35 of 100 (one part).

weight 22% of this tense · 2nd percentile among 69 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 2% of 69 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 69 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Versus Systems Inc.'s shareholder treatment is put at 0.2 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 2% of 69 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.6/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
5.4/10

Is it financially healthy right now?

ROE -93%: lost 93¢ per shareholder dollar. Leverage 7%: owes 7¢ per asset dollar.

weight 33% of this tense · 54th percentile among 69 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Versus Systems Inc. lost about 93 cents for every dollar of shareholders' money, and gross profitability: its products earned about 105 cents per dollar of everything the company owns. Leverage: it owed about 7 cents per dollar of assets, and net share issuance: its share count grew 86.5% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 4% of its family
  • return on equitybottom 14% of its family
  • gross profit against assetstop 8% of its family
  • the share count against the year beforebottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
3.8/10

How strong is its position in its industry?

bottom 38% of 68 in its family; net margin -82.1%.

weight 45% of this tense · 38th percentile among 68 sector filers · read for its customers

From the record

Versus Systems Inc.'s standing among 68 graded names in its industry family: revenue of $2 million in fiscal 2025 ranks in the bottom 11% by size; a net margin of -82.1% ranks in the bottom 20%; revenue growth of 25.3% a year over the last 3 filed years ranks in the top 17% (its annual reports).

What it rests on

  • revenue against the family$2.2Mbottom 11% of its family
  • net margin-82.1%bottom 20% of its family
  • three-year revenue growth25.3%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
0.5/10

What are the people in charge doing?

bottom 5% of 38 in its family for leadership; chief executive since 2026.

weight 22% of this tense · 5th percentile among 38 sector filers · read for its shareholders

From the record

Versus Systems Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Goldner, Luis (CEO, PEO, as filed), filing under that title since 2026-11-09, under a month (bottom 1% of its family); most of the 5 officers and directors filing now have filed since the record of its people begins (2024-02-28), a floor of 2.7 years the record cannot see past, so that part is not read; 6 officer or director changes were reported on Form 8-K since 2023-11-13, against the 5 people in charge now (bottom 9%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge6 in three years among 5 peoplebottom 9% of its family
  • the chief executive's years on the recordunder a monthbottom 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

6.2/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.4/10

How much room does it have to grow?

bottom 44% of 68 in its family for room to expand.

weight 22% of this tense · 44th percentile among 68 sector filers · read for itself

From the record

Versus Systems Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $527 thousand against no long-term debt tagged leaves 25.6% of its assets as net cash, top 43% of its family; cash from operations less capital spending is -94% of revenue (bottom 17%); a gross margin of 99.2% (top 1%); research spending of 2.2% of revenue (bottom 3%) (its annual report).

What it rests on

  • cash less debt against assets25.6%top 43% of its family
  • cash from operations less capital spending against revenue-94.0%bottom 17% of its family
  • gross margin99.2%top 1% of its family
  • research spending against revenue2.2%bottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
5.5/10

What could actually drive growth from here?

top 45% of 64 in its family for growth drivers.

weight 45% of this tense · 55th percentile among 64 sector filers · read for its customers

From the record

Versus Systems Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 25.3% a year over the last three filed years against 25.3% over all 4, speeding up (top 31% of its family); the newest year grew 3720.8% (top 4%); research spending grew -72.9% a year (bottom 1%) (its annual reports). Versus Systems Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+0.0 points a yeartop 31% of its family
  • the newest year's revenue growth3720.8%top 4% of its family
  • three-year growth of research spending-72.9%bottom 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
8.3/10

Did its newest year beat what its own record pointed to?

top 17% of 54 in its family for expectations against reality.

weight 33% of this tense · 83rd percentile among 54 sector filers · read for its shareholders

From the record

Versus Systems Inc.'s newest year against its own record: revenue of $2 million in fiscal 2025 came in 16650.8% above the $13 thousand its prior three years' pace pointed to (top 3% of its family); net income of $2 million against a prior three-year average of $12 million (top 46%); a net margin of -82.1% against losses larger than its revenue before (top 3%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace16650.8%top 3% of its family
  • net income against the prior three years' average+85%top 46% of its family
  • net margin against its prior averageup more than 100 pointstop 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton VS · research, not advice