Filing Flows › Versus Systems (VS) › Q1 2025
Versus Systems (VS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Versus Systems (VS) reported revenue of $199K for the first quarter 2025 (Q1 2025), +652% from a year earlier. Operating margin was -588.3%, net loss $1.2M (580.1% of revenue).
Versus Systems, Q1 2025: revenue $199K (+652% year over year), operating margin -588.3%, net loss $1.2M, operating cash flow −$641K. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $199K | — | +652% |
| Operating profit | −$1.2M | — | — |
| Net earnings | −$1.2M | — | — |
| Operating cash flow | −$641K | — | — |
What changed
Revenue was $199K in Q1 2025, up 652% year over year.
Gross margin was 95.9%, up 86.6 points from a year earlier. Operating costs exceeded revenue by $1.2M, an operating margin of -588.3%. Operating expenses fell 9% while revenue rose 652%. The quarter ended with a net loss of $1.2M. Minority interests bore $195K of it: to shareholders the quarter was a loss of $1.0M.
Operating cash flow was −$641K. Non-cash charges added back $366K of share-based compensation. Working capital and other items added $149K.
Questions
What was Versus Systems' revenue in the first quarter 2025?
Versus Systems (VS) reported revenue of $199K for the first quarter 2025 (Q1 2025), +652% from a year earlier.
Was Versus Systems profitable in the first quarter 2025?
Operating loss was $1.2M (-588.3% of revenue) and net loss $1.2M.
Source: Versus Systems 10-Q on SEC EDGAR.