Versus Systems Inc. 1Q 2026: Revenue $17.3K, EPS ($0.14) — 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Versus Systems Inc. reported a 91% revenue decline to $17.3K in Q1 2026, with a narrower net loss of $683.2K compared to $961.75K in the prior year. The drop was attributed to the loss of one-time consulting revenue. Operating expenses decreased by 38%, improving cash from operations. The company now focuses on legacy products and has only four active customers, including the Texas Rangers.
Versus Systems Inc. reported first-quarter 2026 results showing a sharp revenue decline and a narrower net loss versus the prior-year quarter, reflecting a drop in one-time consulting revenue and reduced operating costs.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $17.3K | $199.35K | (91.3%) |
| Net income² | ($683.2K) | ($961.75K) | 29% |
| Diluted EPS³ | ($0.14) | ($0.2) | 30% |
¹ Reported as “Revenues”. ² Reported as “Net loss attributable to Versus Systems, Inc. Shareholders”. ³ Reported as “diluted earnings per share to shareholders”.
Business Highlights
- Revenue fell 91% year-over-year to $17.3K in Q1 2026, driven primarily by the loss of one-time ASPIS consulting revenue.
- Business is now concentrated on legacy Xcite products and licensing of Winfinite/FFC to sports and media partners.
- Only four active customers as of March 31, 2026, with continued engagements including the Texas Rangers and prior ASPIS involvement.
- Product focus includes Winfinite games, FFC AR filters, and newly allowed AI/ML patent claims that could support future opportunities.
- Operating expenses declined about 38% year-over-year due to reduced headcount and lower stock-based compensation, improving cash from operations.
Original SEC Filing: Versus Systems Inc. [ VS ] - 10-Q - May. 15, 2026