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Side-by-side financial comparison of Virgin Galactic Holdings, Inc (SPCE) and Versus Systems Inc. (VS). Click either name above to swap in a different company.
Virgin Galactic Holdings, Inc is the larger business by last-quarter revenue ($4.2M vs $2.2M, roughly 2.0× Versus Systems Inc.). Versus Systems Inc. runs the higher net margin — -44.7% vs -2222.2%, a 2177.5% gap on every dollar of revenue.
Virgin Galactic Holdings, Inc. is a British-American spaceflight company founded by Richard Branson and the Virgin Group conglomerate, which retains an 11.9% stake through Virgin Investments Limited.
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.
SPCE vs VS — Head-to-Head
Income Statement — Q2 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.2M | $2.2M |
| Net Profit | $-93.8M | $-964.9K |
| Gross Margin | -546.6% | 0.2% |
| Operating Margin | -2412.1% | -54.2% |
| Net Margin | -2222.2% | -44.7% |
| Revenue YoY | 125.5% | — |
| Net Profit YoY | 30.2% | -19.2% |
| EPS (diluted) | $-4.36 | — |
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 | — | $2.2M | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $-176.0K | ||
| Q4 24 | — | $0 | ||
| Q2 24 | $4.2M | — | ||
| Q1 24 | $2.0M | — | ||
| Q4 23 | $2.8M | — | ||
| Q3 23 | $1.7M | — |
| Q4 25 | — | $-964.9K | ||
| Q3 25 | — | $-537.8K | ||
| Q2 25 | — | $672.3K | ||
| Q4 24 | — | $-809.5K | ||
| Q2 24 | $-93.8M | — | ||
| Q1 24 | $-102.0M | — | ||
| Q4 23 | $-104.0M | — | ||
| Q3 23 | $-104.6M | — |
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | -546.6% | — | ||
| Q1 24 | -1038.1% | — | ||
| Q4 23 | -766.4% | — | ||
| Q3 23 | -1384.3% | — |
| Q4 25 | — | -54.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | -2412.1% | — | ||
| Q1 24 | -5599.9% | — | ||
| Q4 23 | -4067.8% | — | ||
| Q3 23 | -6613.0% | — |
| Q4 25 | — | -44.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -382.0% | ||
| Q4 24 | — | — | ||
| Q2 24 | -2222.2% | — | ||
| Q1 24 | -5139.1% | — | ||
| Q4 23 | -3701.8% | — | ||
| Q3 23 | -6053.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $0.14 | ||
| Q4 24 | — | $-0.27 | ||
| Q2 24 | $-4.36 | — | ||
| Q1 24 | $-5.10 | — | ||
| Q4 23 | $-14.49 | — | ||
| Q3 23 | $-5.57 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $775.7M | $527.4K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $394.8M | $10.2M |
| Total Assets | $1.1B | $2.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $527.4K | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $3.1M | ||
| Q2 24 | $775.7M | — | ||
| Q1 24 | $765.2M | — | ||
| Q4 23 | $874.0M | — | ||
| Q3 23 | $997.1M | — |
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $11.1M | ||
| Q2 25 | — | $11.7M | ||
| Q4 24 | — | $11.4M | ||
| Q2 24 | $394.8M | — | ||
| Q1 24 | $417.6M | — | ||
| Q4 23 | $505.5M | — | ||
| Q3 23 | $599.4M | — |
| Q4 25 | — | $2.1M | ||
| Q3 25 | — | $3.1M | ||
| Q2 25 | — | $3.8M | ||
| Q4 24 | — | $3.5M | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — | ||
| Q4 23 | $1.2B | — | ||
| Q3 23 | $1.3B | — |
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 | $-79.1M | $-568.6K |
| Free Cash FlowOCF − Capex | $-113.5M | — |
| FCF MarginFCF / Revenue | -2690.7% | — |
| Capex IntensityCapex / Revenue | 815.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-458.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-568.6K | ||
| Q3 25 | — | $24.7K | ||
| Q2 25 | — | $-867.5K | ||
| Q4 24 | — | $-716.6K | ||
| Q2 24 | $-79.1M | — | ||
| Q1 24 | $-113.2M | — | ||
| Q4 23 | $-95.3M | — | ||
| Q3 23 | $-91.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | $-113.5M | — | ||
| Q1 24 | $-126.3M | — | ||
| Q4 23 | $-113.7M | — | ||
| Q3 23 | $-104.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | -2690.7% | — | ||
| Q1 24 | -6362.8% | — | ||
| Q4 23 | -4046.9% | — | ||
| Q3 23 | -6066.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | 815.5% | — | ||
| Q1 24 | 658.5% | — | ||
| Q4 23 | 653.9% | — | ||
| Q3 23 | 771.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -1.29× | ||
| Q4 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
