VERSES AI INC.
3.9340-0.09 (-2.21%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCQB · VRSSF · USD
Key Stats
Market Cap
40.87MP/E (TTM)
-Basic EPS (TTM)
-15.68Dividend Yield
0%Recent Filings
10-Q
Q1 FY2026 results
Verses AI notched its first revenue of $300,000 in Q1 FY2026 ended June 30, 2025, from Genius platform proof-of-concept deals, up from zero a year ago, though net revenue dipped to $115,939 after $184,061 in costs. Operating expenses eased 3% year-over-year to $9.99 million, driven by lower consulting fees, yet R&D climbed 5% to $4.30 million amid Genius refinements; net loss narrowed 9% to $9.64 million, or $1.10 per share on 8.75 million diluted shares. Cash burned $8.78 million in operations but a $7.11 million unit offering kept the pile at $3.26 million, against $140,347 in loans and a $9.17 million legal provision. No free cash flow disclosed in the 10-Q. Ongoing arbitration fees pose a nagging risk.
8-K
VERSES AI closes unit offering
VERSES AI closed a public offering of 1,007,764 units at C$9.50 each on July 11, 2025, raising gross proceeds of C$9.57 million before commissions. Each unit includes one Class A Subordinate Voting Share and half a warrant exercisable at C$11.50 for 36 months. Net proceeds will fund research and development, working capital, and general purposes. Warrants issued to agents and advisors add potential dilution.
10-K
FY2025 results
VERSES AI Inc. reported FY2025 results ending March 31, 2025, with revenue plunging 92% y/y to $155,000, driven by the termination of a major SaaS contract that contributed $1.75 million in FY2024; net revenue flipped to a $477,000 loss from a $268,000 gain, reflecting higher costs including a $487,000 provision for estimated losses on the Analog agreement. Operating expenses rose 2% to $41.3 million, fueled by 26% higher R&D spending at $15.1 million amid Genius platform development, though investor relations costs dropped 55% to $3.2 million; the net loss narrowed 17% to $43.0 million, aided by a $10.8 million legal claim reversal from insurance proceeds offsetting prior arbitration awards. Q4 momentum showed sequential improvements in cash position to $4.8 million from $0.9 million, bolstered by $37.7 million in financing inflows including $10 million convertible debentures and $19 million unit issuances, while free cash flow remained negative at -$33.1 million from operations minus $31,000 capex. Liquidity stood at a $8.9 million working capital deficit, with no revolver but ongoing capital raises; no annual guidance disclosed, though Genius beta expansions signal Q1 FY2026 revenue potential. Cybersecurity threats loom as a key risk, potentially disrupting quarterly AI development momentum.
8-K
VERSES AI prices unit offering
VERSES AI Inc. priced its public offering of 1,007,764 units at US$6.946 each, targeting gross proceeds of US$7,000,331 before fees, with closing eyed for July 11, 2025. Each unit packs one Class A subordinate voting share plus half a warrant exercisable at US$8.409 for three years, bolstering liquidity for R&D and operations. Agents snag a 7% cash fee, dipping to 2% for company-sourced buyers. Yet risks loom if approvals falter.
8-K
Verses AI files 2025 financials
Verses AI Inc. filed its audited annual financial statements for the year ended March 31, 2025, revealing a net loss of $43.0 million on minimal revenue of $155,000, down sharply from $52.1 million loss on $1.97 million revenue the prior year, due to SaaS contract termination. Cash swelled to $4.8 million from $0.9 million, fueled by $37.7 million in financing including a $10 million convertible debenture conversion, while R&D expenses climbed 26% to $15.1 million amid Genius platform development. Auditors flag substantial going-concern doubts from ongoing losses and funding needs. Genius launched commercially in April 2025.
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