Verses AI Inc. (E:VERS)
Business Focus: IT Services & Consulting (NEC)
| Sector: Technology | Industry: IT Services & Consulting |
| Company Contact | |
| Address: | 595 Howe Street, 10Th Floor VANCOUVER BC V6C2T5 |
| Tel: | N/A |
| Website: | https://www.verses.ai |
| IR: | See website |
| Key People | ||
| Dan Mapes President, Director | Gabriel Rene Chief Executive Officer, Director | Kevin Wilson Chief Financial Officer, Secretary |
| Business Overview |
| VERSES AI Inc. is a Canada-based cognitive computing company specializing in Artificial Intelligence (AI). The Company's offering, GIA, is an Intelligent Assistant powered by KOSM, a network operating system enabling distributed intelligence. KOSM transforms disparate data into knowledge models that foster trustworthy collaboration between humans, machines, and AI, across digital and physical domains. KOSM integrates AI with Internet of Things (IoT), robotics, and augmented reality (AR) in the physical world, blockchain and edge computer, and AR/VR. It produces results in the physical world. KOSM works with legacy systems of all types, without the need for custom programming or an API. One of the Company's technologies is WAYFINDER, which is an AI-assisted order picking that converts text-based instructions to spatial holographic instructions. |
| Financial Overview |
| For the nine months ended 31 December 2023, VERSES AI Inc revenues increased 14% to $1.4M. Net loss increased from $14.2M to $31M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Stock-based Compensation in SGA increase from $2.3M to $7.2M (expense), Research and Development increase of 84% to $7.9M (expense), Consulting fees increase from $395K to $3.3M (expense). |
| Employees: | 37 as of Mar 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $81.16M as of Dec 31, 2023 |
| Annual revenue (TTM): | $2.41M as of Dec 31, 2023 |
| EBITDA (TTM): | -$48.35M as of Dec 31, 2023 |
| Net annual income (TTM): | -$49.41M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$37.31M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 147,736,232 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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