VERSES (VERS) investor relations material

Company overview and business model

• Develops agentic AI software based on Active Inference, inspired by neuroscience, for decision support and action automation, offered as SaaS to enterprises and individuals.

• Flagship product Genius targets financial institutions, asset managers, and plans expansion into sectors like robotics and logistics.

• Genius integrates internal and external data to provide explainable, probabilistic forecasts and scenario analysis for complex decision-making.

• Differentiators include domain-specific modeling, modular specialization, and network effects for collaborative AI agents.

• Competitive advantages cited are explainability, efficiency, and grounding in real-world physics and biology.

Financial performance and metrics

• For the year ended March 31, 2025: revenue was $155,000, down 92% from $1.97 million in 2024, primarily due to SaaS contract termination.

• Net loss for FY2025 was $43.0 million, a 17% improvement from $52.1 million in FY2024.

• For the nine months ended December 31, 2025: revenue was $818,632 (up 428% YoY), net loss was $25.0 million (down 27% YoY).

• Operating expenses for FY2025 were $41.3 million, up 2% YoY; R&D comprised 47% of cash expenses.

• As of December 31, 2025, cash was $67,954, with a working capital deficit of $13.2 million.

• Accumulated deficit as of December 31, 2025 was $154.5 million.

Use of proceeds and capital allocation

• Company will not receive proceeds from the resale of shares by selling shareholders.

• Recent private placements and offerings were used to strengthen financial position, fund R&D, and provide working capital.

• Ongoing reliance on equity and debt financings to fund operations and growth.