VSA
VSA
VisionSys AI Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q2-2023 | $545.01M ▲ | $285.51M ▲ | $7.53M ▲ | 1.38% ▲ | $0.7 ▲ | $-6.8M ▲ |
| Q1-2023 | $385.1M ▼ | $259.83M ▼ | $-50.23M ▼ | -13.04% ▼ | $-4.67 ▼ | $-58.82M ▼ |
| Q4-2022 | $552.44M ▼ | $326.94M ▼ | $-18.51M ▼ | -3.35% ▼ | $-1.72 ▼ | $-4.57M ▼ |
| Q3-2022 | $643.31M ▼ | $333.23M ▲ | $27.74M ▼ | 4.31% ▼ | $2.55 ▼ | $21M ▼ |
| Q2-2022 | $648.82M | $328.49M | $47.73M | 7.36% | $4.36 | $48.02M |
What's going well?
Revenue surged 42% in just one quarter, and the company swung from a big loss to a small profit. Expenses are being kept in check, and efficiency is improving as sales grow faster than costs.
What's concerning?
Profitability depends on a large one-time gain, and the core business is still losing money. Gross margins slipped a bit, and the tax rate was unusually high, which could hurt future profits.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $53.45M ▲ | $106.56M ▲ | $3.82M ▼ | $102.74M ▲ |
| Q2-2025 | $2.47M ▼ | $51.63M ▼ | $1.83B ▼ | $-1.78B ▲ |
| Q4-2024 | $15.3M ▼ | $100.62M ▼ | $1.9B ▼ | $-1.8B ▼ |
| Q2-2024 | $83.16M ▼ | $673.97M ▼ | $2.01B ▼ | $-1.33B ▲ |
| Q2-2023 | $282.2M | $1.23B | $2.78B | $-1.54B |
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|
Q2 2023 Earnings Call Summary
Read Call Summary5-Year Trend Analysis
A comprehensive look at VisionSys AI Inc.'s financial evolution and strategic trajectory over the past five years.
VisionSys AI has a very strong liquidity position, no debt, and a large one‑time gain from divesting its old business, giving it financial breathing room during a risky strategic pivot. It is targeting a high‑growth, high‑visibility area of technology with potentially large markets and is building around integrated BCI and AI solutions that could, in time, yield data‑driven and algorithmic advantages. The company’s balance sheet flexibility allows it to invest aggressively in innovation without immediate pressure from lenders.
The core business is currently deeply unprofitable, with operating and free cash flows strongly negative and minimal revenue to offset the cost base. Historical losses are substantial, and the balance sheet’s strength rests heavily on investor capital and intangibles rather than retained earnings or tangible assets. Execution, competitive, and regulatory risks around the pivot into BCI and AI healthcare are high, and the company appears dependent on securing and maintaining substantial external funding, such as the proposed strategic investment, to continue its plan.
VisionSys AI’s future is highly binary in nature: it has the liquidity and strategic intent to pursue a potentially transformative technology path, but must overcome significant financial and operational hurdles to reach a sustainable, profitable scale. In the near term, reported profits are not representative of underlying performance, and the business should be viewed as an early‑stage, cash‑burning innovator rather than a mature service provider. The medium‑ to long‑term outlook will depend on successful product launches, evidence of market adoption, and a gradual shift from externally funded operations to a business that can support itself through recurring, high‑margin revenue from its BCI and AI platforms.
About VisionSys AI Inc.
https://ir.tctm.cnVisionSys AI, Inc. is a holding company, which engages in the provision of IT-focused supplementary science, technology, engineering, and mathematics (STEM) education services. It operates an education platform that has live distance instruction, classroom-based learning, and online learning modules. The company was founded by Shao Yun Han in September 2002 and is headquartered in Beijing, China.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q2-2023 | $545.01M ▲ | $285.51M ▲ | $7.53M ▲ | 1.38% ▲ | $0.7 ▲ | $-6.8M ▲ |
| Q1-2023 | $385.1M ▼ | $259.83M ▼ | $-50.23M ▼ | -13.04% ▼ | $-4.67 ▼ | $-58.82M ▼ |
| Q4-2022 | $552.44M ▼ | $326.94M ▼ | $-18.51M ▼ | -3.35% ▼ | $-1.72 ▼ | $-4.57M ▼ |
| Q3-2022 | $643.31M ▼ | $333.23M ▲ | $27.74M ▼ | 4.31% ▼ | $2.55 ▼ | $21M ▼ |
| Q2-2022 | $648.82M | $328.49M | $47.73M | 7.36% | $4.36 | $48.02M |
What's going well?
Revenue surged 42% in just one quarter, and the company swung from a big loss to a small profit. Expenses are being kept in check, and efficiency is improving as sales grow faster than costs.
What's concerning?
Profitability depends on a large one-time gain, and the core business is still losing money. Gross margins slipped a bit, and the tax rate was unusually high, which could hurt future profits.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $53.45M ▲ | $106.56M ▲ | $3.82M ▼ | $102.74M ▲ |
| Q2-2025 | $2.47M ▼ | $51.63M ▼ | $1.83B ▼ | $-1.78B ▲ |
| Q4-2024 | $15.3M ▼ | $100.62M ▼ | $1.9B ▼ | $-1.8B ▼ |
| Q2-2024 | $83.16M ▼ | $673.97M ▼ | $2.01B ▼ | $-1.33B ▲ |
| Q2-2023 | $282.2M | $1.23B | $2.78B | $-1.54B |
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|
Q2 2023 Earnings Call Summary
Read Call Summary5-Year Trend Analysis
A comprehensive look at VisionSys AI Inc.'s financial evolution and strategic trajectory over the past five years.
VisionSys AI has a very strong liquidity position, no debt, and a large one‑time gain from divesting its old business, giving it financial breathing room during a risky strategic pivot. It is targeting a high‑growth, high‑visibility area of technology with potentially large markets and is building around integrated BCI and AI solutions that could, in time, yield data‑driven and algorithmic advantages. The company’s balance sheet flexibility allows it to invest aggressively in innovation without immediate pressure from lenders.
The core business is currently deeply unprofitable, with operating and free cash flows strongly negative and minimal revenue to offset the cost base. Historical losses are substantial, and the balance sheet’s strength rests heavily on investor capital and intangibles rather than retained earnings or tangible assets. Execution, competitive, and regulatory risks around the pivot into BCI and AI healthcare are high, and the company appears dependent on securing and maintaining substantial external funding, such as the proposed strategic investment, to continue its plan.
VisionSys AI’s future is highly binary in nature: it has the liquidity and strategic intent to pursue a potentially transformative technology path, but must overcome significant financial and operational hurdles to reach a sustainable, profitable scale. In the near term, reported profits are not representative of underlying performance, and the business should be viewed as an early‑stage, cash‑burning innovator rather than a mature service provider. The medium‑ to long‑term outlook will depend on successful product launches, evidence of market adoption, and a gradual shift from externally funded operations to a business that can support itself through recurring, high‑margin revenue from its BCI and AI platforms.
CEO
Tianlong Wang
Compensation Summary
(Year )
Upcoming Earnings
Split Record
| Date | Type | Ratio |
|---|---|---|
| 2026-05-26 | Reverse | 1:10 |
| 2025-12-22 | Reverse | 1:50 |
Ratings Snapshot
Rating : C