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VS on Nasdaq

Versus Systems Inc.

Versus Systems Inc. is a Canadian computer processing and data preparation services company.2 It is headquartered in Vancouver, Canada.2 Its shares trade on Nasdaq under the symbol VS.2

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Last updated Oct 21, 2026.

Overview

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  • TickerVS on Nasdaq2
  • IndustryServices-Computer Processing & Data Preparation2
  • HeadquartersVancouver, Canada2
  • Incorporated inBritish Columbia, Canada3
  • Business address#302-1620, W.8Th Ave, Vancouver3
  • Filer category, Emerging growth company3
  • Legal formCorporation2
  • LEI5299008J9WHQVAXZVU552
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered address302 - 1620 West 8th Ave, V6J 1V4 Vancouver, Canada2
  • Registered withBC Registry Services, C07788132

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Winfinite Games. Winfinite Games is our suite of customizable, lightweight web-based casual games. These games can be mounted and customized in any web experience to enhance brand engagement and affinity. Our suite provides gaming experiences ranging from sports (basketball, football, American football, hockey) to match-3, to downhill racers, card games, midway games, and trivia.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

99.2%Gross margin6
-99.0%Operating margin6
-82.1%Net margin6
3711.3%Revenue growth, 20256
-17.6%Return on equity6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue0¢$16.4K
  • Research and development1¢$48.1K
  • Selling, general and admin98¢$4.3M
  • Income tax0¢$1.6K

Out of $2.2M in revenue.6 The company lost money this year.

Financial statements

Revenue789106$2.2M in 2025+336% since 2019
0$1.0M$2.0M$3.0M2019: $501.2K$501.2K20192020: $1.4M$1.4M2020+177%2021: $768.6K$768.6K2021−45%2022: $1.1M$1.1M2022+44%2023: $271.2K$271.2K2023−76%2024: $57.3K$57.3K2024−79%2025: $2.2M$2.2M2025+3711%
Gross profit9106$2.2M in 2025+341% since 2022
0$1.0M$2.0M$3.0M2022: $491.8K$491.8K20222023: $168.1K$168.1K2023−66%2024: $17.0K$17.0K2024−90%2025: $2.2M$2.2M2025+12639%
Operating income9106-$2.2M in 2025−90% since 2022
-$30.0M-$20.0M-$10.0M02022: -$22.7M-$22.7M20222023: -$10.9M-$10.9M2023−52%2024: -$4.5M-$4.5M2024−58%2025: -$2.2M-$2.2M2025−52%
Net income789106-$1.8M in 2025−75% since 2019
-$30.0M-$20.0M-$10.0M02019: -$7.3M-$7.3M20192020: -$6.9M-$6.9M2020−5%2021: -$17.8M-$17.8M2021+158%2022: -$22.5M-$22.5M2022+26%2023: -$9.5M-$9.5M2023−58%2024: -$4.0M-$4.0M2024−58%2025: -$1.8M-$1.8M2025−56%
Fiscal year2019202020212022202320242025
Revenue$501.2K7$1.4M8$768.6K8$1.1M9$271.2K10$57.3K6$2.2M6
Cost of revenue$2.0M7$617.0K9$103.1K10$40.3K6$16.4K6
Gross profit$491.8K9$168.1K10$17.0K6$2.2M6
Research and development$2.4M9$1.1M10$246.0K6$48.1K6
Selling, general and admin$11.8M9$5.9M10$4.3M6$4.3M6
Operating expenses$23.2M9$11.0M10$4.6M6$4.3M6
Operating income-$22.7M9-$10.9M10-$4.5M6-$2.2M6
Interest$153.4K8$123.0K8
Income before tax-$22.5M9-$10.5M10-$4.6M6-$2.1M6
Income tax$24.2K6$1.6K6
Net income-$7.3M7-$6.9M8-$17.8M8-$22.5M9-$9.5M10-$4.0M6-$1.8M6
Earnings per share-$0.747-$8.858-$15.118-$192.899-$10.4410-$1.546-$0.376
Earnings per share (diluted)-$0.747-$8.858-$15.118-$192.899-$10.4410-$1.546-$0.376
Shares (weighted, basic)952.8K shares81.7M shares8912.7K shares102.6M shares64.9M shares6
Shares (weighted, diluted)912.7K shares102.6M shares64.9M shares6

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Corporate structure

Versus Systems Inc. sits at the top of its group. 4 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Versus Systems Inc.

  • Versus Systems Inc. Vancouver, British Columbia, Canada
    • Versus Systems Holdco, Inc. Subsidiary · Nevada, United States
    • Versus Systems UK Ltd Subsidiary · United Kingdom
    • Versus, LLC Subsidiary · Nevada, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Versus Systems Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$527.4K6 Dec 31, 2025$3.1M6 Dec 31, 2024−82.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$609.0K6 Dec 31, 2025$6.4M9 Dec 31, 2022−90.5%

Properties, in its own words

We are a distributed organization and do not maintain a central location at which our employees work. Our employees primarily work from home or from coworking spaces. We believe our current arrangements are adequate for our needs and do not anticipate any difficulty in continuing to support our operations as the business evolves.

Item 2 of the 10-K filed Apr 15, 2026.5

Leadership

Who has led Versus Systems Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Matthew Pierce2024
  2. Curtis Andrew Wolfe2024

President

  1. Craig Finster2024

Chief financial officer

  1. Craig Finster2024
  2. Geoff Deller2024
2025
Board members and other officers (8)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerAlex Peachy named Jul 27, 202225
  • Executive OfficerAmanda Armour named Jul 27, 202225
  • DirectorBrian Tingle named Jul 27, 202225
  • DirectorJennifer Prince named Jul 27, 202225
  • DirectorPaul Vlasic named Jul 27, 202225

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Versus Systems Holdco, Inc. Nevada4
  • Versus Systems UK Ltd United Kingdom4
  • Versus, LLC Nevada4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 10, 20268-K Executive or director change26
  2. Jul 24, 20268-K Regulation FD disclosure27
  3. Jul 16, 20268-K Shareholder vote28
  4. Jun 29, 20268-K Unregistered sale of shares29
  5. May 5, 20268-K Listing notice or transfer30
  6. Apr 16, 20268-K Entered a material agreement31
  7. Mar 3, 20268-K Regulation FD disclosure32
  8. Jan 20, 20268-K Entered a material agreement; Executive or director change33
  9. Dec 23, 20258-K Regulation FD disclosure34
  10. Dec 11, 20258-K Regulation FD disclosure35
  11. Dec 3, 20258-K Regulation FD disclosure36
  12. Nov 18, 20258-K Regulation FD disclosure37
  13. Sep 3, 2024New chief executive Curtis Andrew Wolfe becomes CEO15
  14. Feb 28, 2024New chief executive Matthew Pierce becomes CEO14
  15. Jun 14, 2016Founded Versus Systems Inc. is founded2

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/202638

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

164 filings to the SEC since October 2021: 7 annual reports, 9 quarterly reports, 24 major events, 11 insider forms, 14 large holders, 2 private raises, 97 other. The latest 20:

  1. Sep 10, 20268-K CURRENT REPORT EDGAR
  2. Aug 14, 202610-Q QUARTERLY REPORT EDGAR
  3. Jul 24, 20268-K CURRENT REPORT EDGAR
  4. Jul 16, 20268-K CURRENT REPORT EDGAR
  5. Jun 29, 20268-K CURRENT REPORT EDGAR
  6. Jun 22, 2026DEF 14A DEFINITIVE PROXY STATEMENT EDGAR
  7. May 15, 202610-Q QUARTERLY REPORT EDGAR
  8. May 5, 20268-K CURRENT REPORT EDGAR
  9. Apr 16, 20268-K CURRENT REPORT EDGAR
  10. Apr 15, 202610-K ANNUAL REPORT EDGAR
  11. Apr 1, 2026NT 10-K NOTIFICATION OF LATE FILING EDGAR
  12. Mar 3, 20268-K CURRENT REPORT EDGAR
  13. Jan 20, 20268-K CURRENT REPORT EDGAR
  14. Jan 16, 202625-NSE EDGAR
  15. Dec 23, 20258-K CURRENT REPORT EDGAR
  16. Dec 11, 20258-K CURRENT REPORT EDGAR
  17. Dec 3, 20258-K CURRENT REPORT EDGAR
  18. Nov 18, 20258-K CURRENT REPORT EDGAR
  19. Nov 14, 202510-Q QUARTERLY REPORT EDGAR
  20. Aug 14, 202510-Q/A AMENDMENT NO. 1 TO FORM 10-Q EDGAR

The 164 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Oct 16, 2024Raised $500,000 in a private offering of debt Form D: $2.5 million offered in all Form D
  2. Jul 18, 2022Filed a private offering of equity Form D: $3.2 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Citadel Advisors LLC34,177$44.1K0.0%New
XTX Topco Ltd13,567$17.5K0.0%New
Morgan Stanley9,063$11.6K0.0%−13,636
UBS Group AG1,000$1.3K0.0%+999
Tower Research Capital LLC (TRC)488$6250.0%+405
Osaic Holdings, Inc.311$3970.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Versus Systems Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARVersus Systems Inc.1
  • CIK0001701963
  • Employer ID (EIN)46-45425995
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)7374 Services-Computer Processing & Data Preparation1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address#302-1620, W.8Th Ave, Vancouver, British Columbia, Canada1
  • Phone604-719-56141
  • Shares outstanding6,212,646 as of Aug 12, 202612
  • Public float$4.1M as of Jun 30, 20255
  • AuditorRamirez Jimenez International CPAs, Irvine, California PCAOB ID 820; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceApr 10, 20171
  • Filings235 in all: 6-K (66), CORRESP (25), 8-K (24), F-1/A (14), UPLOAD (14), 3 (11), EFFECT (11), SC 13G/A (9)1
    All 33 form types

    10-Q (8), D (5), F-1 (5), POS AM (5), SC 13G (5), 424B4 (4), 10-K (3), 20-F (3), 20-F/A (2), 424B3 (2), 424B5 (2), DEF 14A (2), F-3 (2), S-4/A (2), 10-Q/A (1), 25-NSE (1), 8-A12B (1), CERT (1), DRS (1), F-3/A (1), NT 10-K (1), NT 20-F (1), S-4 (1), S-8 (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Jun 22, 2026
    Latest 8-K (8-K) Sep 10, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares, no par value per shareVSNasdaq

From the cover page of the 10-K filed Apr 15, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Versus Systems Inc. names in Item 1A of its 10-K filed Apr 15, 2026: 50 risks under these headings, as written.5

  • We may not be successful in preventing the material adverse effects that any of the following risks and uncertainties may cause. These potential risks and uncertainties may not be a complete list of the risks and uncertainties facing us. There may be additional risks and uncertainties that we are presently unaware of, or presently consider immaterial, that may become material in the future and have a material adverse effect on us. You could lose all or a significant portion of your investment due to any of these risks and uncertainties.
  • Risks Related to Our Business
  • As we have incurred recurring losses and negative operating cash flows since our inception, and there is no assurance that we will be able to continue as a going concern absent additional financing, which we may not be able to obtain on favorable terms or at all.
  • We are an early, commercial-stage company with a limited operating history.
  • If our products and services fail to achieve and sustain sufficient market acceptance, we will not generate expected revenue and our business may not succeed.
  • We have a relatively limited operating history and limited revenues to date and thus are subject to risks of business development and you have only a limited basis on which to evaluate our ability to achieve our business objective.
  • We derive a significant portion of our revenue from a limited number of customers, including related parties, and therefore are subject to customer concentration and collectability risks.
  • Our recent organizational changes and cost cutting measures are beginning to show promise, however may not be successful.
  • Future acquisitions or strategic investments could disrupt our business and harm our business, results of operations or financial condition.
  • We may require additional funding for our growth plans, and such funding may result in a dilution of your investment.
  • We may not have sufficient capital to fund our ongoing operations, effectively pursue our strategy or sustain our initiatives.
  • Our operations are significantly dependent on changes in public and customer tastes and discretionary spending patterns. Our inability to successfully anticipate customer preferences or to gain popularity for games may negatively impact our profitability.
The other 39 risks
  • If we cannot continue to develop, acquire, market and offer new products and services or enhancements to existing products and services that meet customer requirements, our operating results could suffer.
  • We have made significant investments in new products and services that may not achieve expected returns.
  • Our user base is declining, and if we fail to retain existing users or add new users, our results of operations and financial condition may be materially and adversely affected
  • If we fail to keep up with industry trends or technological developments, our business, results of operations and financial condition may be materially and adversely affected.
  • We are subject to cybersecurity risks.
  • We are a holding company and depend upon our subsidiaries for our cash flows.
  • Our insurance coverage may not adequately protect us against all future risks, which may adversely affect our business and prospects.
  • Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, investments and results of operations.
  • We are dependent upon our executive officers and their departure could adversely affect our ability to operate.
  • Our executive officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests.
  • Our business may be harmed if our licensing partners, or other third parties with whom we do business, act in ways that put our brand at risk.
  • If we fail to keep our existing users, to acquire new users, to successfully implement an award-prizes model for our user community, our business, profitability and prospects may be adversely affected.
  • Our failure to protect our intellectual property rights may undermine our competitive position.
  • Our services or solutions could infringe upon the intellectual property rights of others or we might lose our ability to utilize the intellectual property of others.
  • Third parties may register trademarks or domain names or purchase internet search engine keywords that are similar to our trademarks, brands or websites, or misappropriate our data and copy our platform, all of which could cause confusion to our users, divert online customers away from our products and services or harm our reputation.
  • Our business is highly dependent on the proper functioning and improvement of our information technology systems and infrastructure. Our business and operating results may be harmed by service disruptions, or by our failure to timely and effectively scale up and adjust our existing technology and infrastructure.
  • We use third-party services and technologies in connection with our business, and any disruption to the provision of these services and technologies to us could result in adverse publicity and a failure to maintain or grow our users, which could materially and adversely affect our business, financial condition and results of operations.
  • We are considering a number of strategic alternatives, which could have an adverse impact on our business or the price of our common shares.
  • Risks Related to International Operations
  • We are subject to foreign exchange and currency risks that could adversely affect our operations, and our ability to mitigate our foreign exchange risk through hedging transactions may be limited.
  • We may be unable to operate in new jurisdictions where our customers operate because of new regulations.
  • Privacy concerns could result in regulatory changes and impose additional costs and liabilities on us, limit our use of information, and adversely affect our business.
  • Our results of operations could be affected by natural events in the locations in which we operate or where our customers or suppliers operate.
  • Risks Related to Regulation
  • We are subject to various laws relating to trade, export controls, and foreign corrupt practices, the violation of which could adversely affect our operations, reputation, business, prospects, operating results and financial condition.
  • Regulations that may be adopted with respect to the internet and electronic commerce may decrease the growth in the use of the internet and lead to the decrease in the demand for our services.
  • We have identified material weaknesses in our internal control over financial reporting. If we are unable to maintain effective internal controls, the accuracy and timeliness of our financial reporting may be materially adversely affected, which could cause the market price of our common stock to decline, lessen investor confidence and harm our business.
  • Risks Related to Our Common Shares
  • If we are not in compliance with the listing requirements of the Nasdaq Capital Market in the future, our common stock may be delisted from the Nasdaq Capital Market which could have a material adverse effect on our financial condition and could make it difficult for you to sell your shares.
  • The trading price of our common shares has been and is likely to continue to be highly volatile and could be subject to wide fluctuations in response to various factors, some of which are beyond our control.
  • The market prices of our common shares are likely to be highly volatile because of several factors, including a limited public float.
  • Two shareholders own a significant percentage of our common shares and will be able to exert significant control over matters subject to shareholder approval.
  • Our common shares have in the past been a “penny stock” under SEC rules. It may be more difficult to resell securities classified as “penny stock.”
  • We may continue to be subject to Canadian income tax liabilities that may adversely affect our working capital.
  • The anticipated benefits of our continuation may not be realized.
  • If the benefits of any proposed acquisition do not meet the expectations of investors, shareholders or financial analysts, the market price of our common shares could decline.
  • Shares eligible for future sale may adversely affect the market.
  • We have never paid dividends on our common shares and may not do so in the future.
  • As we are a reporting company under the Exchange Act, we will be obligated to develop and maintain proper and effective internal controls over financial reporting and any failure to maintain the adequacy of these internal controls may adversely affect investor confidence in our company and, as a result, the value of our common shares.
  • We are an emerging growth company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging growth companies, this could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.
  • We will continue to incur increased costs as a result of operating as a reporting company under the Exchange Act, and our management will continue to be required to devote substantial time to compliance with our reporting company responsibilities and corporate governance practices.
  • Changes to tax laws may have an adverse impact on us and holders of our common shares.

Legal proceedings

As of the date hereof, we are not a party to any material legal or administrative proceedings. There are no proceedings in which any of our directors, executive officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to our interest. We may from time to time be subject to various legal or administrative claims and proceedings arising in the ordinary course of business. Litigation or any other legal or administrative proceeding, regardless of the outcome, is likely to result in substantial cost and diversion of our resources, including our management’s time and attention.

The opening of Item 3, Legal Proceedings.5

Sources

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