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Side-by-side financial comparison of Versus Systems Inc. (VS) and Zhibao Technology Inc. (ZBAO). Click either name above to swap in a different company.
Zhibao Technology Inc. is the larger business by last-quarter revenue ($4.1M vs $2.2M, roughly 1.9× Versus Systems Inc.). Zhibao Technology Inc. runs the higher net margin — -2.1% vs -44.7%, a 42.6% 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.
VS vs ZBAO — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.2M | $4.1M |
| Net Profit | $-964.9K | $-85.5K |
| Gross Margin | 0.2% | 34.8% |
| Operating Margin | -54.2% | 2.2% |
| Net Margin | -44.7% | -2.1% |
| Revenue YoY | — | -79.7% |
| Net Profit YoY | -19.2% | 3.2% |
| EPS (diluted) | — | — |
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 | $4.1M | ||
| Q3 25 | $0 | — | ||
| Q2 25 | $-176.0K | — | ||
| Q4 24 | $0 | $20.1M | ||
| Q4 23 | — | $11.9M | ||
| Q2 23 | $157.9K | — | ||
| Q3 22 | $316.8K | — | ||
| Q2 22 | $250.7K | — |
| Q4 25 | $-964.9K | $-85.5K | ||
| Q3 25 | $-537.8K | — | ||
| Q2 25 | $672.3K | — | ||
| Q4 24 | $-809.5K | $-88.3K | ||
| Q4 23 | — | $-1.2M | ||
| Q2 23 | $-2.3M | — | ||
| Q3 22 | $-3.5M | — | ||
| Q2 22 | $-3.2M | — |
| Q4 25 | 0.2% | 34.8% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | 29.1% | ||
| Q4 23 | — | 35.7% | ||
| Q2 23 | 79.5% | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | -54.2% | 2.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | 2.6% | ||
| Q4 23 | — | -9.9% | ||
| Q2 23 | -840.1% | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | -44.7% | -2.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | -382.0% | — | ||
| Q4 24 | — | -0.4% | ||
| Q4 23 | — | -10.1% | ||
| Q2 23 | -1462.9% | — | ||
| Q3 22 | -1107.9% | — | ||
| Q2 22 | -1287.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $0.14 | — | ||
| Q4 24 | $-0.27 | $0.00 | ||
| Q4 23 | — | $-0.04 | ||
| Q2 23 | $-2.41 | — | ||
| Q3 22 | $-1.79 | — | ||
| Q2 22 | $-1.95 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $527.4K | $3.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $10.2M | $6.8M |
| Total Assets | $2.1M | $39.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $527.4K | $3.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | $3.1M | $3.9M | ||
| Q4 23 | — | $779.8K | ||
| Q2 23 | $3.2M | — | ||
| Q3 22 | $1.0M | — | ||
| Q2 22 | $1.9M | — |
| Q4 25 | $10.2M | $6.8M | ||
| Q3 25 | $11.1M | — | ||
| Q2 25 | $11.7M | — | ||
| Q4 24 | $11.4M | $10.0M | ||
| Q4 23 | — | $2.2M | ||
| Q2 23 | $6.4M | — | ||
| Q3 22 | $14.1M | — | ||
| Q2 22 | $15.3M | — |
| Q4 25 | $2.1M | $39.1M | ||
| Q3 25 | $3.1M | — | ||
| Q2 25 | $3.8M | — | ||
| Q4 24 | $3.5M | $43.2M | ||
| Q4 23 | — | $33.0M | ||
| Q2 23 | $9.5M | — | ||
| Q3 22 | $17.7M | — | ||
| Q2 22 | $18.8M | — |
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 | $-568.6K | $-241.5K |
| 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 | $-568.6K | $-241.5K | ||
| Q3 25 | $24.7K | — | ||
| Q2 25 | $-867.5K | — | ||
| Q4 24 | $-716.6K | $10.2M | ||
| Q4 23 | — | $12.1M | ||
| Q2 23 | $-1.3M | — | ||
| Q3 22 | $-1.7M | — | ||
| Q2 22 | $-2.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1.29× | — | ||
| Q4 24 | — | — | ||
| Q4 23 | — | — | ||
| Q2 23 | — | — | ||
| Q3 22 | — | — | ||
| Q2 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
