Versus Systems Inc. offers a suite of proprietary business-to-business software solutions designed to enhance user engagement through gamification and rewards. The company enables partners to provide in-game prizing and rewards such as merchandise, coupons, digital goods, and sweepstakes entries within websites, venues, or streaming media content. Its primary customers include professional sports teams, event venues, fan engagement platforms, digital out-of-home media companies, and advertising agencies seeking to increase fan interaction, collect consented first-party data, and drive sales through live events or advertising campaigns.

Versus Systems Inc. generates revenue by licensing its software products to teams, advertising agencies, and other content creators. The company’s offerings include the in-venue Filter Fan Cam (FFC) platform for live events, the stand-alone “Winfinite” product line for brands and agencies to reach customers on mobile devices, and “Winfinite Games,” which are customizable web-based casual games. Revenue is derived from monthly license fees, as demonstrated by the Technology License and Software Development Agreement with ASPIS Cyber Technologies, Inc., which provides $165,000 per month for a non-cancellable twelve-month term starting April 30, 2025, with ASPIS covering additional technology development costs.

The company operates through the following segments:

• Filter Fan Cam (FFC): This segment provides mobile and in-venue fan engagement products used at live-event and entertainment-focused properties such as stadiums, arenas, conferences, theme parks, and restaurants. FFC is an Augmented Reality filtering tool that increases audience and customer engagement when integrated with existing video screens, jumbotrons, halo boards, main boards, and other branded experiences. Content partners, including professional sports teams, use FFC to deliver games and interactive experiences that enhance the live event atmosphere.

• Winfinite: This segment offers an interactive advertising tool that increases awareness, affinity, data, and incremental sales for content creators, marketers, agencies, and advertisers. Winfinite allows users to increase customer acquisition and loyalty through a combination of games and rewards and is compatible with multiple digital platforms for integration into existing advertising campaigns. The product enables brands to reach customers directly on mobile devices outside of sports venues.

• Winfinite Games: This segment provides a suite of customizable, lightweight web-based casual games that can be mounted and customized in any web experience to enhance brand engagement and affinity. The suite includes gaming experiences ranging from sports such as basketball, football, American football, and hockey to match-3, downhill racers, card games, midway games, and trivia. These games are designed to be lightweight and easily integrated into various web environments to support brand interaction.

Versus Systems Inc. operates in the highly competitive interactive media, live-events, in-venue advertising, and rewarded advertising industries. The company competes primarily on functionality, quality, brand, and customer reviews, leveraging its small size to make quick decisions in response to customer preferences and emerging technologies like AI. It faces competition from industry leaders such as TapJoy, Honey, Rakuten, and Otello in the free-to-play rewards space, as well as pay-to-play companies like Skillz, FanDuel, and DraftKings. Additionally, large technology firms including Apple, Alphabet/Google, Amazon, Meta, Microsoft, Netflix, Shopify, and Yahoo pose competitive threats as they expand into interactive offerings.

Versus Systems Inc. serves professional sports teams, event venues such as arenas and stadiums, fan engagement and sponsor activation platforms, digital out-of-home media companies, and advertising agencies. Specific customers mentioned in the filing include the Texas Rangers and the San Jose Sharks as its largest customers in 2024, and ASPIS as its largest customer for the year ended December 31, 2025. The company continues to pursue new customer relationships in key markets such as Brazil, where it has engaged in discussions with major soccer franchises, professional leagues, festival promoters, and rights holders across multiple event categories.