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Side-by-side financial comparison of Belpointe PREP, LLC (OZ) and Versus Systems Inc. (VS). Click either name above to swap in a different company.
Belpointe PREP, LLC is the larger business by last-quarter revenue ($3.1M vs $2.2M, roughly 1.4× Versus Systems Inc.). Versus Systems Inc. runs the higher net margin — -44.7% vs -380.8%, a 336.2% gap on every dollar of revenue.
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.
OZ vs VS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.1M | $2.2M |
| Net Profit | $-11.7M | $-964.9K |
| Gross Margin | — | 0.2% |
| Operating Margin | — | -54.2% |
| Net Margin | -380.8% | -44.7% |
| Revenue YoY | 180.1% | — |
| Net Profit YoY | -41.8% | -19.2% |
| EPS (diluted) | $-3.10 | — |
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 | $3.1M | $2.2M | ||
| Q3 25 | $2.4M | $0 | ||
| Q2 25 | $2.0M | $-176.0K | ||
| Q1 25 | $1.7M | — | ||
| Q4 24 | $1.1M | $0 | ||
| Q3 24 | $860.0K | — | ||
| Q2 24 | $384.0K | — | ||
| Q1 24 | $337.0K | — |
| Q4 25 | $-11.7M | $-964.9K | ||
| Q3 25 | $-12.1M | $-537.8K | ||
| Q2 25 | $-7.6M | $672.3K | ||
| Q1 25 | $-8.6M | — | ||
| Q4 24 | $-8.2M | $-809.5K | ||
| Q3 24 | $-6.9M | — | ||
| Q2 24 | $-4.7M | — | ||
| Q1 24 | $-4.0M | — |
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -54.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -380.8% | -44.7% | ||
| Q3 25 | -509.3% | — | ||
| Q2 25 | -381.0% | -382.0% | ||
| Q1 25 | -495.6% | — | ||
| Q4 24 | -752.0% | — | ||
| Q3 24 | -805.6% | — | ||
| Q2 24 | -1229.2% | — | ||
| Q1 24 | -1181.3% | — |
| Q4 25 | $-3.10 | — | ||
| Q3 25 | $-3.21 | — | ||
| Q2 25 | $-2.06 | $0.14 | ||
| Q1 25 | $-2.35 | — | ||
| Q4 24 | $-2.26 | $-0.27 | ||
| Q3 24 | $-1.90 | — | ||
| Q2 24 | $-1.30 | — | ||
| Q1 24 | $-1.10 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.3M | $527.4K |
| Total DebtLower is stronger | $260.6M | — |
| Stockholders' EquityBook value | — | $10.2M |
| Total Assets | $564.2M | $2.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.3M | $527.4K | ||
| Q3 25 | $29.6M | — | ||
| Q2 25 | $25.0M | — | ||
| Q1 25 | $23.0M | — | ||
| Q4 24 | $24.7M | $3.1M | ||
| Q3 24 | $24.0M | — | ||
| Q2 24 | $24.7M | — | ||
| Q1 24 | $29.2M | — |
| Q4 25 | $260.6M | — | ||
| Q3 25 | $251.4M | — | ||
| Q2 25 | $228.4M | — | ||
| Q1 25 | $203.3M | — | ||
| Q4 24 | $177.0M | — | ||
| Q3 24 | $144.1M | — | ||
| Q2 24 | $119.9M | — | ||
| Q1 24 | $86.9M | — |
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $11.1M | ||
| Q2 25 | — | $11.7M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $11.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $564.2M | $2.1M | ||
| Q3 25 | $570.8M | $3.1M | ||
| Q2 25 | $556.8M | $3.8M | ||
| Q1 25 | $537.4M | — | ||
| Q4 24 | $517.6M | $3.5M | ||
| Q3 24 | $495.7M | — | ||
| Q2 24 | $476.2M | — | ||
| Q1 24 | $450.9M | — |
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 | $-25.2M | $-568.6K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-25.2M | $-568.6K | ||
| Q3 25 | $-6.0M | $24.7K | ||
| Q2 25 | $-2.4M | $-867.5K | ||
| Q1 25 | $-6.6M | — | ||
| Q4 24 | $-13.7M | $-716.6K | ||
| Q3 24 | $-3.3M | — | ||
| Q2 24 | $1.2M | — | ||
| Q1 24 | $-6.6M | — |
| 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.
