VERSES AI (OTC: VRSSF) is an artificial intelligence software company that develops agentic intelligence tools for enterprise applications. Revenue comes from proof-of-concept projects, software implementation services, and SaaS contracts, though the termination of its primary SaaS contract caused revenue to fall 92% to $155,000 for the fiscal year ended March 31, 2025, down from $1.97 million in FY2024. The company's flagship product, Genius, launched April 30, 2025, and targets machine learning and data science professionals building domain-specific predictive models. Genius is designed as a SaaS platform with usage-based subscription tiers, offering inference-as-a-service through software development kits and application programming interfaces. As of the FY2025 10-K filing, the company was pre-revenue on Genius, was burning cash heavily, with research and development expenses of $15.1 million in FY2025, and has funded operations primarily through equity issuances and convertible debentures.

Revenue model

SaaS subscriptions, proof-of-concept projects, and software implementation services. Genius is planned as a usage-based SaaS with multiple subscription tiers. Total revenue was $155,000 for FY2025 (fiscal year ended March 31, 2025), down 92% from $1.97 million in FY2024, driven by termination of a SaaS contract that contributed $1.75 million in FY2024. The company also holds a revenue-sharing agreement with Cyberlab for its Spatial Domain Program, under which Cyberlab is entitled to 5% of gross revenue in years 1 through 10.

Products and services

Genius: flagship agentic intelligence platform launched April 30, 2025, targeting enterprise machine learning and data science use cases. Provides domain-specific predictive modeling tools via SDKs and APIs, described as inference-as-a-service. Sold under the trademark SMARTER BY NATURE (U.S. Registration No. 98242187, filed October 26, 2023). Earlier revenue was generated from proof-of-concept projects and a now-terminated SaaS contract.

Customers and end markets

Initial Genius customers and resellers announced post-launch include smart cities (Analog), financial services, workforce scheduling, IT consulting, and manufacturing. The beta program targeted developers and machine learning/data science professionals. The company recorded a $486,691 provision in FY2025 related to an estimated loss on its agreement with Analog.

Value-chain role

Software vendor and AI model platform provider. Sits upstream of enterprise application developers, supplying predictive modeling tools and APIs that third-party agents consume to improve decision-making. Operates a developer-facing distribution model through SDKs and a reseller channel.

Geographic exposure

Primary securities activity conducted under U.S. and Canadian regulatory frameworks, with share offerings executed under both SEC exemptions and Canadian securities rules. No specific geographic revenue breakdown disclosed in the FY2025 10-K.

Source: SEC 10-K, filed 2025-07-14

Industry: Services-Computer Programming, Data Processing, Etc.