Veres AI reports FY2025 revenue collapse and heavy losses, with rising interest burden
VERSES AI reported $155K revenue for fiscal 2025, down 92.1% year over year. While its current ratio improved from 0.2x to 0.4x, current assets still did not cover current liabilities. Interest expense jumped to $1.9M, exceeding FY2025 revenue. In Q3 2026, revenue was $418K, net income was -$5.5M, and free cash flow was -$3.5M after capex.