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Side-by-side financial comparison of EMERSON RADIO CORP (MSN) and Versus Systems Inc. (VS). Click either name above to swap in a different company.
Versus Systems Inc. is the larger business by last-quarter revenue ($2.2M vs $1.9M, roughly 1.1× EMERSON RADIO CORP). EMERSON RADIO CORP runs the higher net margin — -36.7% vs -44.7%, a 8.0% gap on every dollar of revenue.
Emerson Radio Corporation is one of the United States' largest volume consumer electronics distributors and has a recognized trademark in continuous use since 1912. The company designs, markets, and licenses many product lines worldwide, including products sold, and sometimes licensed, under the brand name G Clef, an homage to Emerson's logo.
Versus Systems Inc. operates a proprietary interactive reward platform that integrates with video games, streaming content, live sports broadcasts and mobile apps. It enables content creators and brands to offer personalized real-time prizes to audiences across North America and global digital entertainment markets.
MSN vs VS — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9M | $2.2M |
| Net Profit | $-694.0K | $-964.9K |
| Gross Margin | 10.9% | 0.2% |
| Operating Margin | -43.7% | -54.2% |
| Net Margin | -36.7% | -44.7% |
| Revenue YoY | -52.8% | — |
| Net Profit YoY | -31.7% | -19.2% |
| EPS (diluted) | $-0.03 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.9M | $2.2M | ||
| Q3 25 | $1.2M | $0 | ||
| Q2 25 | $1.7M | $-176.0K | ||
| Q1 25 | $1.8M | — | ||
| Q4 24 | $4.0M | $0 | ||
| Q3 24 | $2.7M | — | ||
| Q2 24 | $2.2M | — | ||
| Q1 24 | $2.2M | — |
| Q4 25 | $-694.0K | $-964.9K | ||
| Q3 25 | $-1.0M | $-537.8K | ||
| Q2 25 | $-1.1M | $672.3K | ||
| Q1 25 | $-2.4M | — | ||
| Q4 24 | $-527.0K | $-809.5K | ||
| Q3 24 | $-881.0K | — | ||
| Q2 24 | $-962.0K | — | ||
| Q1 24 | $-883.0K | — |
| Q4 25 | 10.9% | 0.2% | ||
| Q3 25 | -0.1% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | -3.0% | — | ||
| Q4 24 | 12.3% | — | ||
| Q3 24 | 9.9% | — | ||
| Q2 24 | 8.8% | — | ||
| Q1 24 | 15.9% | — |
| Q4 25 | -43.7% | -54.2% | ||
| Q3 25 | -98.4% | — | ||
| Q2 25 | -78.1% | — | ||
| Q1 25 | -137.8% | — | ||
| Q4 24 | -18.3% | — | ||
| Q3 24 | -40.8% | — | ||
| Q2 24 | -55.6% | — | ||
| Q1 24 | -52.2% | — |
| Q4 25 | -36.7% | -44.7% | ||
| Q3 25 | -85.8% | — | ||
| Q2 25 | -68.1% | -382.0% | ||
| Q1 25 | -127.9% | — | ||
| Q4 24 | -13.2% | — | ||
| Q3 24 | -32.2% | — | ||
| Q2 24 | -43.8% | — | ||
| Q1 24 | -40.1% | — |
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $-0.05 | — | ||
| Q2 25 | $-0.05 | $0.14 | ||
| Q1 25 | $-0.10 | — | ||
| Q4 24 | $-0.03 | $-0.27 | ||
| Q3 24 | $-0.04 | — | ||
| Q2 24 | $-0.05 | — | ||
| Q1 24 | $-0.04 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.3M | $527.4K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $18.6M | $10.2M |
| Total Assets | $20.1M | $2.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.3M | $527.4K | ||
| Q3 25 | $13.5M | — | ||
| Q2 25 | $15.5M | — | ||
| Q1 25 | $16.1M | — | ||
| Q4 24 | $16.4M | $3.1M | ||
| Q3 24 | $16.7M | — | ||
| Q2 24 | $18.9M | — | ||
| Q1 24 | $19.9M | — |
| Q4 25 | $18.6M | $10.2M | ||
| Q3 25 | $19.3M | $11.1M | ||
| Q2 25 | $20.4M | $11.7M | ||
| Q1 25 | $21.5M | — | ||
| Q4 24 | $23.9M | $11.4M | ||
| Q3 24 | $24.4M | — | ||
| Q2 24 | $25.3M | — | ||
| Q1 24 | $26.2M | — |
| Q4 25 | $20.1M | $2.1M | ||
| Q3 25 | $20.7M | $3.1M | ||
| Q2 25 | $23.3M | $3.8M | ||
| Q1 25 | $23.5M | — | ||
| Q4 24 | $26.4M | $3.5M | ||
| Q3 24 | $26.6M | — | ||
| Q2 24 | $28.5M | — | ||
| Q1 24 | $29.1M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-228.0K | $-568.6K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-228.0K | $-568.6K | ||
| Q3 25 | $-2.0M | $24.7K | ||
| Q2 25 | $-514.0K | $-867.5K | ||
| Q1 25 | $-391.0K | — | ||
| Q4 24 | $-293.0K | $-716.6K | ||
| Q3 24 | $-2.1M | — | ||
| Q2 24 | $-840.0K | — | ||
| Q1 24 | $-2.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-301.0K | — | ||
| Q3 24 | $-2.1M | — | ||
| Q2 24 | $-1.0M | — | ||
| Q1 24 | $-2.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -7.5% | — | ||
| Q3 24 | -77.8% | — | ||
| Q2 24 | -46.4% | — | ||
| Q1 24 | -102.3% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.3% | — | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | 0.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -1.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MSN
| Products | $1.8M | 95% |
| Other | $87.0K | 5% |
VS
Segment breakdown not available.
