Visionstate (VIS) AI Stock Analysis

• Market Cap: C$3.87M
• Dividend Yield: N/A
• Average Volume (3M): 370.26K
• Price to Earnings (P/E): ―
• Beta (1Y): -1.40
• Revenue Growth: -15.33%
• EPS Growth: 47.13%
• Country: CA
• Employees: 7
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): >-0.01
• Shares Outstanding: 258,326,320
• 10 Day Avg. Volume: 459,940
• 30 Day Avg. Volume: 370,259
• PEG Ratio: 0.15
• Price to Book (P/B): 27.30
• Price to Sales (P/S): 17.13
• P/FCF Ratio: -12.56
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: C$0.00 ▼(-100.00% Downside)

Visionstate's overall stock score is heavily impacted by its precarious financial performance, characterized by persistent losses and high leverage. Technical analysis further supports a bearish outlook, with indicators pointing to negative momentum. Valuation metrics, including a negative P/E ratio, highlight ongoing financial challenges. The absence of earnings call insights and corporate events leaves the focus on these critical areas.

Positive Factors

Revenue Streams

The diverse revenue streams from subscriptions and hardware sales provide a stable base for future growth, reducing reliance on a single income source and offering potential for scalability.

Partnerships

Strategic partnerships with governments and enterprises enhance market credibility and open avenues for larger contracts, supporting long-term revenue stability and growth.

EPS Growth

Substantial EPS growth indicates improving profitability potential, reflecting effective cost management and operational efficiency, which can enhance investor confidence over the long term.

Negative Factors

Financial Health

Ongoing financial challenges, including high leverage and negative cash flows, threaten long-term viability, requiring strategic changes to stabilize operations and improve financial health.

Cash Flow

Negative cash flows highlight operational inefficiencies and liquidity issues, limiting the company's ability to invest in growth opportunities and meet financial obligations.

Balance Sheet

A heavily leveraged balance sheet with a weak equity ratio indicates financial instability, increasing risk and limiting the company's ability to secure additional financing on favorable terms.

Visionstate Business Overview & Revenue Model

Company Description

Visionstate Corp. engages in the research and development of technology in the realm of the Internet of Things, big data and analytics, and sustainability. The company, through its subsidiary, Visionstate IoT Inc., provides state-of-the-art IoT platform that tracks and monitors cleaning and maintenance activities in publicly accessible buildings and spaces. The company's principal product is WANDA, an IoT touch-screen solution that collects information on cleaning activities, monitors supply inventories, manages workforce, collects foot-traffic data using people sensors, and provides detailed analytics, reporting, and dashboards. Its product WANDA smart technology is used in hospitals, airports, shopping centers, and other public facilities across and beyond North America. The company is also investing in artificial intelligence (AI) applications through its ViCCi 2.0 product, which integrates conversational AI with customer service in brick and mortar locations. Visionstate Corp. is headquartered in Edmonton, Canada.

How the Company Makes Money

Visionstate generates revenue through multiple streams, primarily by offering subscription-based services for its IoT platforms and solutions. The company charges clients for the use of its software and analytics tools, which help businesses monitor and manage their facilities more effectively. Additionally, Visionstate earns revenue from hardware sales, including sensors and devices that are integral to its IoT solutions. Significant partnerships with municipal governments and large enterprises also contribute to its earnings, as these collaborations often lead to larger contracts and recurring service agreements. The company may also benefit from service-level agreements (SLAs) that ensure ongoing support and maintenance for its technology.

Visionstate Financial Statement Overview

Summary

Visionstate faces significant financial hurdles across all major financial statement areas. Persistent operational losses, high leverage, and negative cash flows characterize the company's financial health. While there are slight improvements in stockholder equity, the overall financial condition remains precarious, with a need for strategic recalibration to stabilize operations and improve profitability.

Income Statement

Visionstate's income statement reflects significant financial challenges. Gross profit margins are negative due to costs exceeding revenues. The company consistently reports negative EBIT and net income, indicating persistent operational losses. Revenue growth is inconsistent, with recent declines suggesting volatility in business operations.

Balance Sheet

The balance sheet shows a heavily leveraged structure with a debt-to-equity ratio that has improved but remains a concern. Negative stockholder equity in past periods reflects financial instability, though recent improvements in equity position are noted. The equity ratio remains weak, indicating dependence on debt financing.

Cash Flow

Visionstate's cash flow statements highlight substantial negative operating cash flows, suggesting operational inefficiencies. Free cash flow remains negative, impacting liquidity. Despite high financing activity, cash generation from operations is insufficient to cover business needs, indicating financial strain.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	442.49K	492.38K	289.24K	410.54K	540.64K	130.14K
Gross Profit	-173.64K	-155.40K	-275.94K	365.01K	528.20K	121.09K
EBITDA	-1.08M	-891.81K	-1.69M	-573.90K	-981.91K	-610.34K
Net Income	-1.12M	-933.16K	-1.73M	-621.13K	-1.04M	-722.67K
Balance Sheet
Total Assets	686.91K	826.07K	386.62K	976.75K	1.49M	290.28K
Cash, Cash Equivalents and Short-Term Investments	307.42K	456.48K	89.77K	19.80K	635.96K	-27.70K
Total Debt	159.76K	170.76K	243.59K	251.54K	180.50K	243.08K
Total Liabilities	536.22K	517.13K	641.27K	720.13K	830.21K	1.36M
Stockholders Equity	150.69K	308.94K	-254.65K	256.63K	655.03K	-1.07M
Cash Flow
Free Cash Flow	-632.69K	-671.66K	-1.01M	-766.04K	-536.56K	-316.36K
Operating Cash Flow	-632.69K	-671.66K	-1.01M	-766.04K	-536.56K	-316.36K
Investing Cash Flow	-92.60K	-63.00K	-22.75K	-109.98K	-1.29M	0.00
Financing Cash Flow	788.27K	1.10M	1.11M	259.86K	2.47M	381.43K

Visionstate Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VIS, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 34.97 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:VIS.

Visionstate Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
DM	46 Neutral	C$3.89M	―	-58.58%	―	-56.02%	91.71%
PBIT	46 Neutral	$8.11M	―	-540.25%	―	-33.97%	59.10%
VIS	41 Neutral	C$3.87M	-3.26	-3428.85%	―	-15.33%	47.13%
NERD	41 Neutral	$2.24M	―	―	―	13.01%	20.00%
PAID	39 Underperform	C$7.08M	-0.34	―	―	30.97%	18.42%
DCSI	37 Underperform	$4.97M	-3.03	―	―	25.65%	-383.49%

Visionstate Corporate Events

Visionstate Expands U.S. Presence with New Pilot Project and Customer Growth

Visionstate Corp. has announced a pilot project with a leading U.S.-based facility management company, marking its expansion into the U.S. market. The pilot, which begins with three hospitals and could extend to 15, aims to enhance operational excellence through technology. Additionally, Visionstate is expanding its customer base across North America, with new deployments in trucking, construction, and healthcare sectors. These developments underscore the growing recognition of Visionstate’s software solutions as essential tools for ensuring cleanliness, compliance, and sustainability across diverse industries.

Visionstate Expands Product Line and Prepares for Growth with New Initiatives

Visionstate Corp. has announced several strategic initiatives aimed at expanding its market presence and enhancing its product offerings. The company has begun demonstrating its TidyLogic AI platform, which aids facility managers in resource planning, and is preparing for Ontario’s Bill 190 with its WandaLITE solution. Additionally, Visionstate has launched the MIRA inspections platform and Wanda Exteriors to diversify its SaaS revenue streams. These efforts are expected to position Visionstate for significant recurring revenue growth by 2026, as they mirror strategies of successful SaaS companies by focusing on scaling subscriptions and market share.

Sol Spaces Expands with Climate-Resilient Greenhouses and Housing Solutions

Visionstate’s portfolio company, Sol Spaces, is experiencing significant growth by expanding its climate-resilient greenhouse technology and entering the housing market. In 2025, Sol Spaces achieved a record year, launching a greenhouse kit that broadens its market reach and collaborating on community projects to enhance food security. The company’s innovative designs, which include solar-powered and energy-efficient systems, position it as a leader in sustainable infrastructure. Additionally, Sol Spaces is exploring backyard studios as affordable housing solutions, aligning with Canada’s national housing plan and creating new growth opportunities.

Visionstate Launches TidyLogic: A New AI-Powered Tool for Facility Management

Visionstate Corp. has launched TidyLogic, an AI-powered planning tool developed in collaboration with the Alberta Machine Intelligence Institute, designed to optimize facility management by transforming traditional planning into intelligent digital schedules. The tool aims to address inefficiencies and unlock operational savings in the global facility management market, which is under pressure to reduce costs and improve efficiency. TidyLogic offers unique capabilities such as AI-powered route guides and intelligent insights, filling a significant market gap with its scalable and fast deployment features, and is expected to strengthen Visionstate’s position in the industry.

Visionstate Sees Surge in WandaLITE Subscriptions Ahead of Bill 190 Compliance

Visionstate Corp. has reported a significant increase in subscriptions for its WandaLITE technology, driven by Ontario’s Bill 190, which mandates digital cleaning and inspection logs in public washrooms by January 2026. The company has secured 21 new subscriptions and has 42 more potential clients in the pipeline, indicating strong market traction and potential revenue growth. Visionstate’s proactive strategy of onboarding clients before the legislation’s deadline and delaying invoicing until the law is effective has positioned it as a trusted partner for compliance. The WandaLITE platform offers a streamlined, cloud-based solution that meets the new legislative requirements efficiently, helping institutions transition from paper logs to digital systems, thereby improving hygiene and operational transparency.