Technology and QR-Driven Experiences to Transform In-Venue Consumer Interaction Across Key MarketsMIAMI, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS) today announced it has executed a definitive agreement with Drinkfinger Enterprises Ltd. (“Drinkfinger”) to launch large-scale technology-enabled campaigns and interactive fan experiences across Brazil, the United States, the United Kingdom, and select international markets. The collaboration will integrate Dri ...

Core Insights - Versus Systems has entered into a definitive agreement with LiftMedia to integrate its interactive engagement technology into LiftMedia's Digital Out-of-Home (DOOH) network, which reaches 2.65 million people daily and nearly 1 billion impressions annually [1][3] - A new consumer-facing mobile app will be developed to connect LiftMedia's DOOH network with a digital ecosystem, launching a pilot in Spain and Portugal in Q1 2026, followed by a full rollout in Q2 2026 [1][5] - The partnership aims to create a scalable monetization engine through user interaction and brand engagement, with revenue shared 50:50 across qualified digital engagement streams [3][4] Business Model - Versus Systems will be embedded within LiftMedia's commercial offerings, allowing LiftMedia's sales team to sell engagement-driven campaigns across a significant DOOH footprint without requiring new installations [3] - Predicted revenue streams include sponsored and branded games, engagement-based billing, affiliate partnerships, tournaments, subscriptions, and data insights [8] User Experience - The mobile app will feature user experience architecture, gamification, and engagement funnels designed by Versus, creating a seamless transition from DOOH screens to mobile activation [4] - Users will have access to instant games, quizzes, challenges, and rewards through the app, enhancing interaction with content displayed on LiftMedia's screens [7]

Core Insights - Versus Systems Inc. has announced a collaboration with LiftMedia LDA to utilize its interactive engagement tools in Digital Out-of-Home (DOOH) advertising, targeting key markets in the Iberian Peninsula [1][2] - The initiative aims to enhance audience engagement and monetize user interaction through innovative QR code technology, reaching approximately 2.65 million people daily, which is about 4.4% of the Iberian population, and generating nearly 1 billion impressions annually [1][2] - The partnership is expected to support Versus Systems' strategic expansion into the growing DOOH market in the Iberian Peninsula, where elevator networks and retail media channels are experiencing significant growth [2] Company Collaboration - Versus and LiftMedia have signed a non-binding Letter of Intent and plan to finalize a Master Services Agreement (MSA) within 60 days, with a pilot launch in Spain and Portugal to follow [3] - The collaboration aims to transform everyday interactions into impactful digital touchpoints, creating a seamless physical-to-digital experience for audiences and brands [4] Market Positioning - This partnership positions Versus Systems as an innovator in interactive entertainment and gamified advertising, providing a scalable model for further expansion into global DOOH markets [5] - LiftMedia's expertise in audience engagement within the out-of-home advertising space complements Versus' technology, enhancing the effectiveness of their media properties [6] Company Background - Versus Systems is recognized as a leading provider of gamification and audience engagement technology, enabling brands to create rewarding interactive experiences [7] - LiftMedia specializes in digital out-of-home advertising, particularly in elevator screen content, offering innovative marketing solutions for local businesses [10]

Core Insights - Versus Systems Inc. has announced a collaboration with Drinkfinger Enterprises LTD. to enhance fan engagement through interactive experiences in global sports and entertainment [1][2][3] - The partnership aims to integrate physical fan products with real-time digital engagement, creating new opportunities for fan interaction during major events [2][6] Company Overview - Versus Systems is a leading provider of gamification and audience engagement technology, enabling brands to create rewarding interactive experiences [8] - Drinkfinger is an innovative beverage accessory brand focused on enhancing fan experiences through customizable products that serve as both functional items and digital engagement tools [9][10] Collaboration Details - The companies have signed a non-binding Letter of Intent and are working towards a Master Services Agreement to implement dynamic activations in international markets [3] - Drinkfinger products will utilize Versus Systems' technology, allowing fans to scan their products and unlock interactive digital experiences [4][5] Strategic Goals - The collaboration is expected to elevate fan engagement, making traditional fan accessories more interactive and shareable [5][6] - Both companies aim to merge team spirit, convenience, and eco-friendly design into a new category of collectible and functional fan products [6]

Revenue Performance - For the three months ended September 30, 2025, the Company reported no revenue, a decrease of $3,848, or 100%, from $3,848 for the same period in 2024[74]. - For the nine months ended September 30, 2025, revenue was $2,179,348, an increase of $2,122,060, or 3,704%, from $57,288 for the same period in 2024, attributed to ASPIS license revenue and professional services[78]. - The company recognized $1,980,000 in revenue from functional IP for the nine months ended September 30, 2025, with $1,001,000 collected from ASPIS during the same period[100][101]. - The company recognized $176,000 attributed to professional services during the nine months ended September 30, 2025[99]. - Revenue from software-as-a-service (SAAS) is recognized over the life of the contract, reflecting the performance obligations satisfied[95]. - The company recognizes revenue from advertising sales on a net basis, acting as an agent in the transaction[97]. Expenses - Research and development expenses for the three months ended September 30, 2025, were $14,470, an increase of $3,008, or 26%, from $11,462 for the same period in 2024[75]. - Selling, general and administrative expenses for the three months ended September 30, 2025, were $741,931, an increase of $220,521, or 42%, from $521,410 for the same period in 2024[76]. - Total operating expenses for the nine months ended September 30, 2025, were $3,153,263, a decrease from $3,547,139 for the same period in 2024[77]. - Stock-based compensation increased by $248,087 during the nine months ended September 30, 2025[89]. Financial Position - As of September 30, 2025, the Company had cash of $1,405,628 and a working capital balance of $2,770,192, down from cash of $3,065,914 and working capital of $3,509,272 as of December 31, 2024[83]. - The net decrease in cash and cash equivalents for the nine months ended September 30, 2025 was $1,660,286, compared to a decrease of $4,217,759 in 2024[88]. - Net cash used in operating activities for the nine months ended September 30, 2025 was $1,484,267, a decrease of 65% compared to $4,255,345 for the same period in 2024[89]. - Cash used in investing activities was $300,000 for the nine months ended September 30, 2025, attributed to technology development for new product offerings, with no cash used in 2024[90]. Business Strategy and Risks - The Company is pursuing new customer relationships and expansion opportunities, particularly in Brazil, which is expected to begin generating revenue in the near term[67]. - The Company continues to face risks and uncertainties common to emerging growth businesses, with management believing that current resources may not be sufficient to fund planned activities for the next twelve months[86]. - The company has not engaged in any financing activities for the nine months ended September 30, 2025 and 2024[91]. - The company operates under the Emerging Growth Company status, allowing it to delay adopting new accounting standards[103]. Technology and Development - The Company has implemented cybersecurity solutions to strengthen its technology infrastructure and is developing new intellectual property to enhance its technology portfolio[67].

Core Insights - Four software stocks have shown significant growth ranking improvements, nearing the top 10th percentile, indicating robust earnings and revenue expansion [1][2] Group 1: Company Performance - DoubleVerify Holdings Inc. (DV) increased by 0.52 percentile points to a growth ranking of 90.22, but has declined by 28.35% year-to-date and 23.08% over the past year, showing a weaker price trend [8] - Fortinet Inc. (FTNT) also rose by 0.52 percentile points to a growth ranking of 90.30, with a year-to-date decline of 16.12% but a 3.71% increase over the year, maintaining a poor value ranking [8] - MongoDB Inc. (MDB) exhibited a remarkable improvement of 40.21 percentile points, moving from 51.25 to 91.46, with a year-to-date increase of 36.89% and a 12.87% rise over the year, reflecting strong business expansion [8] - Versus Systems Inc. (VS) progressed by 0.52 percentile points to a growth ranking of 90.39, with a year-over-year increase of 31.37% but a year-to-date decline of 12.23%, showing a weaker price trend [8] Group 2: Growth Metrics - The Benzinga Edge Stock Rankings growth metric assesses combined historical earnings and revenue expansion, focusing on long-term trends and recent performance relative to peers, with weekly updates for consistent measurement [7]

Revenue - Revenue for the three months ended June 30, 2025, was $1,980,000, a significant increase of $1,953,063, or 7,250%, from $26,937 for the same period in 2024, attributed to the ASPIS license revenue[78] - For the six months ended June 30, 2025, revenue was $2,179,348, an increase of $2,125,908, or 3,978%, from $53,440 for the same period in 2024, driven by ASPIS license revenue and professional services[83] - The Company recognized $1,980,000 of revenue from functional IP for the three and six months ended June 30, 2025, as the Technology Agreement with ASPIS was delivered during the quarter[107] - The Company recognized $176,000 attributed to professional services for the three and six months ended June 30, 2025[105] - The Company earns revenue primarily through software-as-a-service (SAAS) and development and maintenance of custom-built software or other professional services[100] - Revenue from advertising sales is recognized on a net basis, as the Company acts as an agent in the transaction[103] - The Company recognizes revenue when performance obligations are satisfied, either at a point in time or over time, depending on the nature of the service provided[102] Costs and Expenses - Cost of revenues decreased to $8,222 for the three months ended June 30, 2025, down by $8,222, or 49%, from $16,231 for the same period in 2024, due to reduced infrastructure needs[79] - Cost of revenues for the six months ended June 30, 2025, was $16,446, a decrease of $23,831, or 59%, from $40,277 for the same period in 2024, attributed to decreased infrastructure needs[84] - Research and development expenses were $6,219 for the three months ended June 30, 2025, representing a decrease of $60,984, or 91%, from $67,203 for the same period in 2024, primarily due to staff reductions[80] - Selling, general and administrative expenses were $1,026,758 for the three months ended June 30, 2025, a decrease of $416,413, or 29%, from $1,443,171 for the same period in 2024, mainly due to reduced payroll and professional fees[81] - Total operating expenses for the six months ended June 30, 2025, were $2,396,862, down by $617,405, or 20%, from $3,014,267 for the same period in 2024[86] Net Loss and Cash Flow - The company reported a net loss of $214,016 for the six months ended June 30, 2025, compared to a net loss of $3,001,425 for the same period in 2024[82] - Net cash used in operating activities for the six months ended June 30, 2025, was $1,508,972, a decrease of 61% compared to $3,874,311 for the same period in 2024[94] - The decrease in cash used in operating activities was primarily due to a reduction in net loss by $2,787,409 and a decrease in prepaids by $1,042,853, offset by an increase in stock-based compensation of $226,611 and an increase in accounts receivable of $1,987,972[94] - As of June 30, 2025, the company had cash of $1,682,256 and a working capital balance of $3,808,046, compared to cash of $3,065,914 and working capital of $3,509,272 as of December 31, 2024[88] - The company plans to increase cash flow from operations and is evaluating strategic alternatives, indicating a need for additional financing to support operations[92] Investing and Financing Activities - No cash was used in or provided by investing activities for the six months ended June 30, 2025, and 2024[95] - No cash was used in or provided by financing activities for the six months ended June 30, 2025, and 2024[96] Share-Based Payments - The Company uses the Black-Scholes valuation model for estimating share-based payments, which includes considerations of volatility, expected life, and dividend yield[108]

Revenue Performance - Revenue for the three-month period ended March 31, 2025, was $199,347, representing an increase of $172,844, or 652%, from $26,503 for the same period in 2024[78]. - For the three months ended March 31, 2025, the Company recognized $176,000 attributed to professional services[101]. - No revenue was recognized on functional IP for the three months ended March 31, 2025, as the license had not been delivered to ASPIS during the year[102]. Cost and Expenses - Cost of revenues decreased by $15,823, or 66%, to $8,223 for the three-month period ended March 31, 2025, compared to $24,046 for the same period in 2024[79]. - Research and development expenses were $6,149 for the three-month period ended March 31, 2025, a decrease of $33,263, or 84%, from $39,412 for the same period in 2024[80]. - Selling, general and administrative expenses decreased by $106,745, or 7%, to $1,357,736 for the three-month period ended March 31, 2025, from $1,464,481 for the same period in 2024[81]. Operating Performance - The operating loss for the three-month period ended March 31, 2025, was $1,172,761, a decrease of $328,675, or 22%, from $1,501,436 for the same period in 2024[82]. - The company incurred net losses of approximately $1.2 million and $1.5 million for the three months ended March 31, 2025, and 2024, respectively[86]. Cash Flow and Liquidity - Cash position as of March 31, 2025, was $2,432,219, down from $3,065,914 as of December 31, 2024, reflecting ongoing operational funding needs[84]. - Net cash used in operating activities for the three-month period ended March 31, 2025, was $641,445, a decrease from $1,757,911 for the same period in 2024[90]. - The company plans to increase cash flow from operations and is evaluating strategic alternatives to address liquidity concerns[88]. Customer Base - The company has two active customers as of March 31, 2025, primarily consisting of sports teams and venues[67]. Stock-Based Compensation - The Company uses the Black-Scholes valuation model for estimating stock-based compensation, which includes considerations of volatility, expected life, and dividend yield[103].

Revenue Performance - Revenue for the year ended December 31, 2024, was $57,288, a decrease of $213,881, or 79%, from $271,169 in 2023, primarily due to a reduction in active clients from 16 to 2[177]. - The net loss for the year ended December 31, 2024, was $4,574,836, compared to a net loss of $10,512,157 in 2023, representing a decrease of $5,937,321, or 56%[176]. - Revenue from custom-built software development and maintenance is recognized upon satisfaction of performance obligations, either at a single point in time or over time[200]. - For the year ended December 31, 2024, no revenue was recognized on functional IP as the license agreement with ASPIS had not been delivered during the year[203]. Expenses and Cost Management - Cost of revenues decreased to $40,277 in 2024, down $62,790, or 61%, from $103,067 in 2023, mainly due to staff reductions[178]. - Research and development expenses were $246,019 for 2024, a decrease of $861,216, or 78%, from $1,107,235 in 2023, attributed to reduced staffing and software costs[179]. - Selling, general and administrative expenses were $4,310,218 in 2024, down $1,634,691, or 27%, from $5,944,909 in 2023, reflecting a decrease in employee count from 16 to 6[180]. Cash Flow and Liquidity - Net cash used in operating activities was $4,971,948 for 2024, a decrease from $5,582,139 in 2023, primarily due to a reduction in net loss[191]. - Net cash provided by financing activities was $3,278,235 in 2024, compared to $9,045,578 in 2023, reflecting a decrease in proceeds from common shares and warrants[193]. - The company had cash and cash equivalents of $3.1 million as of December 31, 2024, indicating ongoing liquidity concerns[187]. - The company plans to increase cash flow from operations and is evaluating strategic alternatives to address liquidity issues[189]. Impairment and Intangible Assets - The impairment of goodwill and other intangible assets was $0 for 2024, a decrease of $3,968,332, or 100%, from the previous year[181]. - The company impaired the remaining carrying value of intangible assets by $3,968,332 during the year ended December 31, 2023[195]. Revenue Recognition Policies - The company recognizes revenue from software-as-a-service (SAAS) over the life of the contract, with payment terms varying by contract[198]. - Cash received in advance for services is recorded as deferred revenue based on the proportion of time remaining under the service arrangement[204]. - The company recognizes advertising revenue on a net basis, acting as an agent in the transaction, and only upon achieving agreed-upon performance criteria[201]. - The company may enter into short-term convertible debt agreements to provide bridge capital, which includes a debt discount and a common stock conversion feature[205].

Core Points - Versus Systems Inc. has renewed its partnership with the Texas Rangers for the 2025 MLB season, marking the fourth consecutive year of collaboration [1][3] - The Filter Fan Cam, a significant part of the Texas Rangers' in-game entertainment, was utilized during their 2023 and 2024 World Series appearances, including their championship win in 2023 [2] - The partnership emphasizes Versus Systems' leadership in interactive sports entertainment, combining real-time fan engagement with augmented reality [3] Company Overview - Versus Systems is a leading provider of gamification and audience engagement technology, enabling brands to create rewarding, interactive experiences [5] - The company focuses on innovation and continues to expand globally, empowering organizations to enhance their engagement strategies [5]