VSBLTY Groupe Technologies (VSBY) Q3 2025 earnings summary

Executive summary

• Audited 2024 financial results and performance through Q3 2025 were discussed, with a focus on restoring regulatory compliance, advancing business discipline, and resetting the financial foundation for scalable growth.

• Transition to a new external audit firm is underway to improve reporting timelines and support strategic objectives.

• Significant progress in revenue growth, gross margin improvement, and operating loss reduction was highlighted, with the first gross profit in company history achieved due to cost rationalization and a higher-margin software mix.

• For the first nine months of 2025, revenue was $1.86 million, up 92% year-over-year, already surpassing full-year 2024 revenue.

• Net loss for the nine months ended September 30, 2025, was $5.0 million, slightly higher than the prior year due to ongoing investment in growth and product development.

Financial highlights

• 2024 revenue increased to $1.51M from $869K in 2023, with other sources reporting $1.4M, up 66% year-over-year, driven by media management and professional services.

• Gross profit turned positive at $61K in 2024, compared to a gross loss in 2023, marking the first-ever gross profit.

• Operating loss reduced from $8.95M in 2023 to $5.4M in 2024.

• For the nine months ended September 30, 2025, revenue reached $1.86M, up from $968K year-over-year.

• Net loss for nine months 2025 was $5.0M, up slightly from $4.7M in the prior year.

Outlook and guidance

• Advanced stages of closing two or three contracts in retail media and security verticals, expected to contribute to near-term revenue.

• Recent Winkel Network expansion to 5,400 locations in Latin America expected to impact revenue in 2026.

• Revenue recognition from Winkel Media SaaS and debt service expected to impact balance sheet in Q3/Q4 2025.

• Profitability target is $6–7M annual revenue; several high-probability contracts in the pipeline could achieve this.

• Management anticipates materially stronger revenue in 2026 as major deployments move to scaled implementation and incremental growth drives operating leverage.