Income Statement VERSES AI Inc. OTC Markets

Stocks

VRSSF

CA92539Q6040

IT Services & Consulting

Market Closed - OTC Markets 09:51:33 2026-09-18 EDT			5-day change	1st Jan Change
0.2456 ^USD	-7.25%		-7.25%	-87.41%

07-09	VERSES AI Inc. Announces Resignation of James Christodoulou from Chief Accounting Officer	CI
07-09	VERSES AI Inc. Announces Resignation of David Scott from Interim CEO	CI

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Published financial data: VERSES AI INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Revenues	97.2K	2.77M	1.61M	1.97M	155K
Total Revenues	97.2K	2.77M	1.61M	1.97M	155K
Cost of Goods Sold, Total	663K	2.38M	1.14M	1.7M	632K
Gross Profit	-566K	390K	470K	268K	-477K
Selling General & Admin Expenses, Total	1.57M	4.74M	9.8M	17.62M	21.57M
Provision for Bad Debts	-	-	-	-	1.25M
Stock-Based Compensation (IS)	297K	-	2.71M	7.85M	-
R&D Expenses	-	-	5.88M	12.02M	15.14M
Depreciation & Amortization - (IS)	-	29.39K	236K	262K	172K
Other Operating Expenses, Total	1.87M	4.77M	18.63M	37.76M	38.14M
Operating Income	-2.43M	-4.38M	-18.16M	-37.49M	-38.61M
Interest Expense, Total	-297K	-161K	-132K	-348K	-1.95M
Interest And Investment Income	-	16.04K	18.77K	240K	213K
Net Interest Expenses	-297K	-145K	-113K	-108K	-1.74M
Other Non Operating Income (Expenses)	202K	503K	-1.18M	-2.7M	-3.49M
EBT, Excl. Unusual Items	-2.53M	-4.02M	-19.45M	-40.3M	-43.84M
Legal Settlements	-	-	-	-6.31M	848K
Other Unusual Items	-	-4.86M	-	-	-
EBT, Incl. Unusual Items	-2.53M	-8.88M	-19.45M	-46.6M	-42.99M
Income Tax Expense	-	1.6K	5.6K	2.51K	-
Earnings From Continuing Operations	-2.53M	-8.88M	-19.46M	-46.61M	-42.99M
Net Income to Company	-2.53M	-8.88M	-19.46M	-46.61M	-42.99M
Net Income - (IS)	-2.53M	-8.88M	-19.46M	-46.61M	-42.99M
Net Income to Common Incl Extra Items	-2.53M	-8.88M	-19.46M	-46.61M	-42.99M
Net Income to Common Excl. Extra Items	-2.53M	-8.88M	-19.46M	-46.61M	-42.99M
Per Share Items
Net EPS - Basic	-6.83	-3.08	-4.68	-9.06	-5.49
Basic EPS - Continuing Operations	-6.83	-3.08	-4.68	-9.06	-5.49
Basic Weighted Average Shares Outstanding	370K	2.89M	4.16M	5.15M	7.83M
Net EPS - Diluted	-6.83	-3.08	-4.68	-9.06	-5.49
Diluted EPS - Continuing Operations	-6.83	-3.08	-4.68	-9.06	-5.49
Diluted Weighted Average Shares Outstanding	370K	2.89M	4.16M	5.15M	7.83M
Normalized Basic EPS	-4.27	-0.87	-2.92	-4.89	-3.5
Normalized Diluted EPS	-4.27	-0.87	-2.92	-4.89	-3.5
Supplemental Items
EBITDA	-	-4.36M	-18.03M	-37.34M	-38.44M
EBITA	-2.43M	-4.38M	-18.16M	-37.49M	-38.61M
EBIT	-2.43M	-4.38M	-18.16M	-37.49M	-38.61M
EBITDAR	-	-4.28M	-18.01M	-37.31M	-38.35M
Effective Tax Rate - (Ratio)	-	-0.02	-0.03	-0.01	-
Normalized Net Income	-1.58M	-2.51M	-12.16M	-25.19M	-27.4M
Interest on Long-Term Debt	-	1.83K	16.12K	10.43K	5.24K
Supplemental Operating Expense Items
Marketing Expenses	-	628K	1.76M	4.33M	-
Selling and Marketing Expenses	-	628K	1.76M	4.33M	-
General and Administrative Expenses	1.31M	2.66M	4.12M	8.45M	9.6M
Research And Development Expense From Footnotes	-	-	5.88M	12.02M	15.14M
Net Rental Expense, Total	253K	81.01K	27.55K	26.84K	90.96K
Imputed Operating Lease Interest Expense	280K	83.22K	10.52K	20.5K	1.25M
Imputed Operating Lease Depreciation	-27K	-2.21K	17.03K	6.34K	-1.16M
Stock-Based Comp., G&A Exp. (Total)	-	-	372K	-	-
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	7.68M
Stock-Based Comp., Other (Total)	297K	-	2.71M	7.91M	49.71K
Total Stock-Based Compensation	297K	-	3.08M	7.91M	7.73M

Fiscal Period: March	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Assets
Cash And Equivalents	136K	6.37M	4.4M	893K	4.82M
Short Term Investments	-	77.61K	59.54K	59.54K	10K
Total Cash And Short Term Investments	136K	6.45M	4.46M	952K	4.83M
Accounts Receivable, Total	-	1.73M	1.39M	1.35M	-
Other Receivables	17.96K	26.55K	1.07M	1.36M	605K
Total Receivables	17.96K	1.76M	2.46M	2.71M	605K
Inventory	-	-	-	-	6.65K
Prepaid Expenses	20K	277K	1.38M	735K	626K
Restricted Cash	735K	94.09K	-	-	-
Other Current Assets, Total	-	-	-	80.99K	119K
Total Current Assets	909K	8.58M	8.3M	4.48M	6.18M
Gross Property Plant And Equipment	-	481K	474K	550K	581K
Accumulated Depreciation	-	-29.39K	-130K	-283K	-455K
Net Property Plant And Equipment	-	452K	344K	267K	125K
Loans Receivable Long-Term	-	-	-	-	68.08K
Other Long-Term Assets, Total	-	-	-	954K	-
Total Assets	909K	9.03M	8.64M	5.7M	6.38M
Liabilities
Accounts Payable, Total	888K	540K	1.18M	2.78M	1.93M
Accrued Expenses, Total	280K	80.43K	73.89K	82.5K	148K
Short-term Borrowings	1.59M	-	4.91M	2M	-
Current Portion of Leases	-	115K	109K	-	-
Unearned Revenue Current, Total	627K	326K	65K	-	168K
Other Current Liabilities	3.11M	1M	1.33M	6.88M	12.86M
Total Current Liabilities	6.5M	2.06M	7.66M	11.75M	15.11M
Long-Term Debt	548K	146K	143K	141K	139K
Long-Term Leases	-	105K	-	-	-
Total Liabilities	7.05M	2.31M	7.8M	11.89M	15.25M
Common Stock, Total	100	20.38M	30.26M	62.57M	105M
Additional Paid In Capital	-	1.58M	5.61M	13.24M	15.89M
Retained Earnings	-6.14M	-15.02M	-34.48M	-81.08M	-130M
Comprehensive Income and Other	-	-234K	-553K	-921K	-675K
Total Common Equity	-6.14M	6.72M	841K	-6.19M	-8.87M
Total Equity	-6.14M	6.72M	841K	-6.19M	-8.87M
Total Liabilities And Equity	909K	9.03M	8.64M	5.7M	6.38M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.31M	3.81M	4.76M	5.56M	8.75M
ECS Total Common Shares Outstanding	2.31M	3.81M	4.38M	5.52M	7.83M
Book Value / Share	-2.65	1.76	0.19	-1.12	-1.13
Tangible Book Value	-6.14M	6.72M	841K	-6.19M	-8.87M
Tangible Book Value Per Share	-2.65	1.76	0.19	-1.12	-1.13
Total Debt	2.14M	366K	5.16M	2.14M	139K
Net Debt	2M	-6.08M	701K	1.19M	-4.69M
Debt Equivalent Oper. Leases	2.02M	648K	220K	215K	728K
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	-	-	-	-	6.65K
Machinery, Total	-	252K	365K	550K	581K
Full Time Employees	30	32	-	-	-

Fiscal Period: March	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Net Income	-2.53M	-8.88M	-19.46M	-46.61M	-42.99M
Depreciation & Amortization - CF	-	29.39K	236K	262K	172K
Depreciation & Amortization, Total	-	29.39K	236K	262K	172K
Asset Writedown & Restructuring Costs	-	-	24.13K	-	-
Stock-Based Compensation (CF)	297K	-	3.08M	7.91M	7.73M
Other Operating Activities, Total	270K	5.02M	152K	7.01M	2.83M
Change In Accounts Receivable	-17.96K	-1.73M	160K	33.36K	93.35K
Change In Accounts Payable	467K	-201K	629K	1.62M	-793K
Change in Unearned Revenues	627K	-300K	-261K	-65K	100K
Change in Other Net Operating Assets	226K	-296K	-1.95M	397K	-234K
Cash from Operations	-658K	-6.36M	-17.39M	-29.44M	-33.09M
Capital Expenditure	-	-252K	-148K	-185K	-30.58K
Cash Acquisitions	-	1.3M	-	-	-
Other Investing Activities, Total	-	-	-	-1.07M	-480K
Cash from Investing	-	1.04M	-148K	-1.26M	-510K
Long-Term Debt Issued, Total	442K	275K	5.55M	2M	10M
Total Debt Issued	442K	275K	5.55M	2M	10M
Long-Term Debt Repaid, Total	-649K	-2.44M	-140K	-122K	-2.01M
Total Debt Repaid	-649K	-2.44M	-140K	-122K	-2.01M
Issuance of Common Stock	1.73M	13.21M	11.77M	27.36M	32.22M
Other Financing Activities, Total	-	89.17K	-1.31M	-1.7M	-2.56M
Cash from Financing	1.53M	11.14M	15.87M	27.54M	37.66M
Foreign Exchange Rate Adjustments	-	-234K	-402K	-348K	-133K
Net Change in Cash	867K	5.59M	-2.07M	-3.5M	3.92M
Supplemental Items
Cash Interest Paid	-	149K	11.53K	5.32K	5.24K
Levered Free Cash Flow	1.27M	-7.38M	-9.28M	-8.5M	-14.55M
Unlevered Free Cash Flow	1.46M	-7.28M	-9.2M	-8.28M	-13.33M
Change In Net Working Capital	-2.68M	4.32M	1.02M	-7.16M	-2.93M
Net Debt Issued / Repaid	-207K	-2.16M	5.41M	1.88M	7.99M

Fiscal Period: March	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Profitability
Return on Assets	-262.11	-55.11	-128.44	-326.77	-473.01
Return on Total Capital	55.82	-177.59	-173.49	-2.4K	264.25
Return On Equity %	51.89	-3.07K	-514.96	1.74K	418.53
Return on Common Equity	51.89	-3.07K	-514.96	1.74K	418.53
Margin Analysis
Gross Profit Margin %	-582.58	14.05	29.25	13.6	-307.54
SG&A Margin	1.61K	170.96	610.65	895.86	13.92K
EBITDA Margin %	-	-157.25	-1.12K	-1.9K	-24.8K
EBITA Margin %	-2.5K	-157.96	-1.13K	-1.91K	-24.91K
EBIT Margin %	-2.5K	-157.96	-1.13K	-1.91K	-24.91K
Income From Continuing Operations Margin %	-2.6K	-320.18	-1.21K	-2.37K	-27.74K
Net Income Margin %	-2.6K	-320.18	-1.21K	-2.37K	-27.74K
Net Avail. For Common Margin %	-2.6K	-320.18	-1.21K	-2.37K	-27.74K
Normalized Net Income Margin	-1.63K	-90.65	-757.46	-1.28K	-17.68K
Levered Free Cash Flow Margin	1.31K	-265.99	-578.14	-432.2	-9.39K
Unlevered Free Cash Flow Margin	1.5K	-262.37	-573	-421.12	-8.6K
Asset Turnover
Asset Turnover	0.17	0.56	0.18	0.27	0.03
Fixed Assets Turnover	-	-	4.03	6.44	0.79
Receivables Turnover (Average Receivables)	-	3.19	1.1	1.44	-
Short Term Liquidity
Current Ratio	0.14	4.16	1.08	0.38	0.41
Quick Ratio	0.02	3.98	0.9	0.31	0.36
Operating Cash Flow to Current Liabilities	-0.1	-3.08	-2.27	-2.51	-2.19
Days Sales Outstanding (Average Receivables)	-	114.28	333.19	254.72	-
Average Days Payable Outstanding	436.98	109.27	275.62	426.27	-
Long Term Solvency
Total Debt/Equity	-34.85	5.45	612.99	-34.59	-1.57
Total Debt / Total Capital	-53.49	5.17	85.97	-52.88	-1.59
LT Debt/Equity	-8.93	3.74	17.04	-2.28	-1.57
Long-Term Debt / Total Capital	-13.7	3.54	2.39	-3.48	-1.59
Total Liabilities / Total Assets	774.89	25.61	90.26	208.6	239.08
EBIT / Interest Expense	-8.18	-27.25	-137.76	-107.59	-19.77
EBITDA / Interest Expense	-	-27.07	-135.97	-106.84	-19.68
(EBITDA - Capex) / Interest Expense	-	-28.63	-137.09	-107.37	-19.69
Total Debt / EBITDA	-	-0.08	-0.29	-0.06	-0
Net Debt / EBITDA	-	1.4	-0.04	-0.03	0.12
Total Debt / (EBITDA - Capex)	-	-0.08	-0.29	-0.06	-0
Net Debt / (EBITDA - Capex)	-	1.32	-0.04	-0.03	0.12
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-22.24	2.75K	-42.13	22.53	-92.12
Gross Profit, 1 Yr. Growth %	124.6	-168.84	20.46	-43.02	-278.16
EBITDA, 1 Yr. Growth %	-	-	313.46	107.02	16.85
EBITA, 1 Yr. Growth %	57.92	79.63	314.36	106.48	16.44
EBIT, 1 Yr. Growth %	57.92	79.63	314.36	106.48	16.44
Earnings From Cont. Operations, 1 Yr. Growth %	38.43	251.29	119.1	139.52	-17.47
Net Income, 1 Yr. Growth %	38.43	251.29	119.1	139.52	-17.47
Normalized Net Income, 1 Yr. Growth %	38.43	59.13	383.53	107.15	3.96
Diluted EPS Before Extra, 1 Yr. Growth %	-	181.77	51.98	93.62	-62.29
Accounts Receivable, 1 Yr. Growth %	-	30.33K	-10.33	-2.41	-
Net Property, Plant and Equip., 1 Yr. Growth %	-	-	-23.92	-22.27	-53.07
Total Assets, 1 Yr. Growth %	262.58	892.95	-4.29	-34.04	66.61
Tangible Book Value, 1 Yr. Growth %	70.07	-209.44	-87.47	-835.67	-24.04
Common Equity, 1 Yr. Growth %	70.07	-209.44	-87.47	-835.67	-24.04
Cash From Operations, 1 Yr. Growth %	16.56	865.84	173.49	76.2	11.82
Capital Expenditures, 1 Yr. Growth %	-	-	-41.19	25.08	-83.48
Levered Free Cash Flow, 1 Yr. Growth %	207.5	-682.09	25.77	-5.51	998.02
Unlevered Free Cash Flow, 1 Yr. Growth %	146.76	-600.75	26.38	-7.32	1.26K
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-22.06	371.07	306.37	-15.8	-68.92
Gross Profit, 2 Yr. CAGR %	88.13	24.34	-8.94	-17.15	0.76
EBITDA, 2 Yr. CAGR %	-	-	-	192.56	45.99
EBITA, 2 Yr. CAGR %	19.97	68.67	172.82	192.5	45.83
EBIT, 2 Yr. CAGR %	19.97	68.67	172.82	192.5	45.83
Earnings From Cont. Operations, 2 Yr. CAGR %	19.11	120.52	177.43	129.08	48.64
Net Income, 2 Yr. CAGR %	19.11	120.52	177.43	129.08	48.64
Normalized Net Income, 2 Yr. CAGR %	19.11	48.42	177.39	216.49	50.12
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	106.93	71.54	8.38
Accounts Receivable, 2 Yr. CAGR %	-	-	1.46K	-6.45	-
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-	-23.1	-39.61
Total Assets, 2 Yr. CAGR %	9.44K	500.02	208.27	-20.55	-14.1
Tangible Book Value, 2 Yr. CAGR %	85.57	36.43	-62.97	-4	224.67
Common Equity, 2 Yr. CAGR %	85.57	36.43	-62.97	-4	224.67
Cash From Operations, 2 Yr. CAGR %	-39.22	235.53	413.95	115.18	40.73
Capital Expenditures, 2 Yr. CAGR %	-	-	-	-14.24	-54.55
Levered Free Cash Flow, 2 Yr. CAGR %	-	322.36	170.57	7.33	27.19
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	251	151.56	6.68	22.14
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	158.81	134.17	172.5	-61.77
Gross Profit, 3 Yr. CAGR %	-	34.56	23.03	-22.11	6.94
EBITDA, 3 Yr. CAGR %	-	-	-	-	106.55
EBITA, 3 Yr. CAGR %	-	37.38	127.58	148.62	106.55
EBIT, 3 Yr. CAGR %	-	37.38	127.58	148.62	106.55
Earnings From Cont. Operations, 3 Yr. CAGR %	-	70.81	120.04	164.17	69.16
Net Income, 3 Yr. CAGR %	-	70.81	120.04	164.17	69.16
Normalized Net Income, 3 Yr. CAGR %	-	31.18	120.02	151.67	121.7
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	102.4	21.31
Accounts Receivable, 3 Yr. CAGR %	-	-	-	519.39	-
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	-	-34.78
Total Assets, 3 Yr. CAGR %	-	4.39K	225.41	84.38	-10.94
Tangible Book Value, 3 Yr. CAGR %	-	55.62	-38.45	0.29	9.71
Common Equity, 3 Yr. CAGR %	-	55.62	-38.45	0.29	9.71
Cash From Operations, 3 Yr. CAGR %	-	52.8	213.43	254.96	73.3
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-	-50.47
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	182.04	88.58	25.41
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	149.7	78.62	22.36
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	65.17	4.4
Gross Profit, 5 Yr. CAGR %	-	-	-	10.83	13.59
EBITA, 5 Yr. CAGR %	-	-	-	85.87	90.47
EBIT, 5 Yr. CAGR %	-	-	-	85.87	90.47
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	92.09	88.09
Net Income, 5 Yr. CAGR %	-	-	-	92.09	88.09
Normalized Net Income, 5 Yr. CAGR %	-	-	-	86.58	88.83
Total Assets, 5 Yr. CAGR %	-	-	-	793.65	91.01
Tangible Book Value, 5 Yr. CAGR %	-	-	-	28.28	19.7
Common Equity, 5 Yr. CAGR %	-	-	-	28.28	19.7
Cash From Operations, 5 Yr. CAGR %	-	-	-	75.22	125.72
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	103.83
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	86.51