VBNK

MKT CAP:$584M

VersaBank

Market Cap

$584M

Financial Services·Banks - Regional·🇬🇧 United Kingdom·NASDAQ

Financials·Banks - Regional·🇬🇧·NASDAQ

Stock Price

$18.29+$3.30 (+22.01%)

Apr 24, 2026

Company Details

VersaBank, a schedule I chartered bank, provides various banking products and services in Canada. The company offers deposit products, such as guaranteed investment certificates, registered retirement savings plans, daily interest savings a...

CEO

Susan Teresa McGovern

IPO Date

Aug 27, 2021

Website

www.versabank.com

Key Metrics TTM

Revenue

$229M

+4.9% YoY

Net Income

$23M

EPS (Diluted)

$0.71

Free Cash Flow

$53M

Revenue / Share

$9.74

Gross Margin

41.3%

Operating Margin

14.6%

Net Margin

10.0%

FCF Margin

23.3%

P/S

2.6x

P/E

25.4x

Earnings Reports

Q1 2026

Mar 4, 2026

$61M+11.5%EPS $0.26

FY 2025

Dec 10, 2025

$88M+7.7%EPS $0.66

Q4 2025

Dec 10, 2025

$58M+5.7%EPS $0.12

Q3 2025

Sep 4, 2025

$55M+2.8%EPS $0.15

Q2 2025

Jun 4, 2025

$53M-0.6%EPS $0.19

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$20M	$14M	$5M
Q3 22	$26M	$15M	$6M
Q4 22	$32M	$18M	$8M
Q1 23	$37M	$19M	$10M
Q2 23	$41M	$19M	$10M
Q3 23	$45M	$20M	$10M
Q4 23	$50M	$21M	$12M
Q1 24	$52M	$21M	$12M
Q2 24	$54M	$21M	$12M
Q3 24	$54M	$20M	$10M
Q4 24	$55M	$20M	$6M
Q1 25	$55M	$20M	$8M
Q2 25	$53M	$21M	$9M
Q3 25	$55M	$22M	$6M
Q4 25	$58M	$25M	$7M
Q1 26	$61M	$26M	$11M

Valuation

Quarter	P/S	P/E
Q2 22	7.8x	36.5x
Q3 22	7.0x	36.1x
Q4 22	6.0x	35.2x
Q1 23	5.1x	30.1x
Q2 23	4.3x	25.1x
Q3 23	3.8x	22.1x
Q4 23	3.4x	18.9x
Q1 24	3.1x	17.6x
Q2 24	2.9x	17.0x
Q3 24	2.8x	17.1x
Q4 24	2.7x	20.1x
Q1 25	2.7x	22.7x
Q2 25	2.7x	25.0x
Q3 25	2.7x	27.8x
Q4 25	2.6x	28.1x
Q1 26	2.6x	25.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$30M	$30M
Q3 22	$19M	$19M
Q4 22	$10M	$10M
Q1 23	$25M	$25M
Q2 23	$14M	$14M
Q3 23	-$97M	-$97M
Q4 23	$53M	$53M
Q1 24	-$13M	-$25M
Q2 24	$37M	$37M
Q3 24	$64M	$62M
Q4 24	$112M	$112M
Q1 25	-$65M	-$66M
Q2 25	-$73M	-$72M
Q3 25	$134M	$134M
Q4 25	$36M	$36M
Q1 26	-$45M	-$45M

Capital Expenditures

Quarter	CapEx
Q2 22	$119.1K
Q3 22	$402.7K
Q4 22	$120.6K
Q1 23	$18.3K
Q2 23	$228.7K
Q3 23	$8.8K
Q4 23	$8.8K
Q1 24	$12M
Q2 24	$256.5K
Q3 24	$2M
Q4 24	$75.3K
Q1 25	$1M
Q2 25	$534.2K
Q3 25	$41.7K
Q4 25	$211.9K
Q1 26	$124.4K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+20.9%	+40.2%
Q3 22	+49.9%	+70.2%
Q4 22	+68.6%	+87.8%
Q1 23	+96.2%	+105.7%
Q2 23	+104.4%	+105.1%
Q3 23	+75.4%	+75.3%
Q4 23	+57.4%	+55.2%
Q1 24	+39.8%	+43.7%
Q2 24	+32.0%	+36.4%
Q3 24	+18.8%	+24.9%
Q4 24	+9.6%	+29.6%
Q1 25	+5.3%	+17.6%
Q2 25	-0.6%	+7.2%
Q3 25	+2.8%	+11.3%
Q4 25	+5.7%	+3.7%
Q1 26	+11.5%	+6.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$309.9K	1.6%
Q3 22	$309.9K	1.2%
Q4 22	$309.1K	1.0%
Q1 23	$250.7K	0.7%
Q2 23	$140.3K	0.3%
Q3 23	$140.3K	0.3%
Q4 23	$127.2K	0.3%
Q1 24	$96.5K	0.2%
Q2 24	$52.6K	0.1%
Q3 24	$52.6K	0.1%
Q4 24	$52.6K	0.1%
Q1 25	$54.8K	0.1%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$4.4K	0.0%
Q1 26	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$8M	—
Q3 22	$9M	—
Q4 22	$9M	—
Q1 23	$8M	—
Q2 23	$9M	—
Q3 23	$9M	—
Q4 23	$8M	—
Q1 24	$8M	—
Q2 24	$8M	—
Q3 24	$9M	—
Q4 24	$13M	—
Q1 25	$10M	—
Q2 25	$12M	—
Q3 25	$14M	—
Q4 25	$9M	$9M
Q1 26	$9M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$145M	$696.4K	$146M
Q3 22	$62M	$696.4K	$62M
Q4 22	$65M	$696.4K	$65M
Q1 23	$147M	$696.4K	$148M
Q2 23	$163M	$696.4K	$164M
Q3 23	$64M	$696.4K	$65M
Q4 23	$97M	$696.4K	$97M
Q1 24	$93M	$696.4K	$94M
Q2 24	$145M	$696.4K	$146M
Q3 24	$181M	$696.4K	$182M
Q4 24	$165M	$696.4K	$165M
Q1 25	$283M	$117M	$399M
Q2 25	$249M	$77M	$326M
Q3 25	$336M	$118M	$454M
Q4 25	$425M	$696.4K	$426M
Q1 26	$460M	$74M	$534M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	27M	0.0%	+29.9%
Q3 22	27M	0.0%	+29.9%
Q4 22	27M	-0.7%	-0.7%
Q1 23	27M	-0.8%	-1.5%
Q2 23	26M	-3.2%	-4.6%
Q3 23	26M	-0.8%	-5.4%
Q4 23	26M	+0.0%	-4.7%
Q1 24	26M	0.0%	-3.9%
Q2 24	26M	0.0%	-0.8%
Q3 24	26M	0.0%	+0.0%
Q4 24	26M	0.0%	0.0%
Q1 25	29M	+11.9%	+11.9%
Q2 25	33M	+11.9%	+25.2%
Q3 25	32M	-0.5%	+24.7%
Q4 25	33M	+0.6%	+25.4%
Q1 26	23M	-28.0%	-19.3%

Shares Outstanding