NASDAQ : VHC
VirnetX Holding Corporation — Financial statements
Technology · Software - Infrastructure · United States
Last price 10.46 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 43.89M
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Financial statements
VirnetX Holding Corporation (VHC) reported revenue of 114.00K USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 114.00K | 162.00K | 5.00K | 7.00K | 48.00K | 35.00K |
| Gross Profit | 114.00K | 162.00K | 5.00K | 7.00K | 48.00K | 35.00K |
| Selling, General & Admin | 14.76M | 13.45M | 14.36M | 21.74M | 15.72M | 10.89M |
| Research & Development | 5.47M | 5.65M | 6.04M | 9.71M | 6.41M | 5.58M |
| Operating Expenses | 20.22M | 19.10M | 20.40M | 31.45M | 22.13M | 16.46M |
| Operating Income | -20.11M | -18.94M | -20.40M | -31.45M | -22.08M | -16.43M |
| Interest & Investment Income | 800.00K | 1.21M | 2.23M | 3.50M | 1.85M | 48.00K |
| EBT Excluding Unusual Items | -19.31M | -17.73M | -18.17M | -27.95M | -20.23M | -16.38M |
| Gain (Loss) on Sale of Investments | -500.00K | -500.00K | ||||
| Legal Settlements | 4.00K | -32.74M | ||||
| Pretax Income | -19.81M | -18.23M | -18.17M | -27.95M | -20.23M | -49.13M |
| Income Tax Expense | -4.00K | -2.00K | 3.00K | -79.00K | 16.03M | -6.21M |
| Net Income | -19.81M | -18.23M | -18.18M | -27.87M | -36.26M | -42.92M |
| Net Income to Common | -19.81M | -18.23M | -18.18M | -27.87M | -36.26M | -42.92M |
| Shares Outstanding (Basic) | 3.70M | 3.65M | 3.60M | 3.58M | 3.56M | 3.56M |
| Shares Outstanding (Diluted) | 3.70M | 3.65M | 3.60M | 3.58M | 3.56M | 3.56M |
| EPS (Basic) | -5.36 | -5.00 | -5.05 | -7.79 | -10.17 | -12.06 |
| EPS (Diluted) | -5.36 | -5.00 | -5.05 | -7.79 | -10.17 | -12.06 |
| Free Cash Flow | -16.45M | -15.66M | -15.35M | -24.84M | -16.89M | -51.73M |
| Free Cash Flow Per Share | -4.45 | -4.29 | -4.27 | -6.94 | -4.74 | -14.54 |
| Gross Margin | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Operating Margin | -17,640.35% | -11,691.36% | -407,940.00% | -449,214.29% | -46,000.00% | -46,940.00% |
| Profit Margin | -17,373.68% | -11,250.00% | -363,500.00% | -398,157.14% | -75,541.67% | -122,631.43% |
| Free Cash Flow Margin | -14,433.33% | -9,667.28% | -306,980.00% | -354,828.57% | -35,193.75% | -147,808.57% |
| EBITDA | -20.08M | -18.92M | -20.38M | -31.44M | -22.07M | -16.43M |
| D&A For EBITDA | 26.00K | 23.00K | 21.00K | 9.00K | 7.00K | 4.00K |
| EBIT | -20.11M | -18.94M | -20.40M | -31.45M | -22.08M | -16.43M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 13.09M | 15.55M | 23.30M | 26.29M | 86.56M | 142.02M |
| Short-Term Investments | 799.00K | 5.98M | 14.79M | 27.26M | 65.46M | 27.25M |
| Cash & Short-Term Investments | 13.89M | 21.53M | 38.08M | 53.55M | 152.02M | 169.27M |
| Receivables | 19.00K | 2.00K | 14.00K | 17.00K | ||
| Prepaid Expenses | 217.00K | 120.00K | 122.00K | 282.00K | 224.00K | 203.00K |
| Total Current Assets | 14.11M | 21.67M | 38.20M | 53.83M | 152.26M | 169.49M |
| Property, Plant & Equipment | 6.77M | 7.30M | 8.81M | 3.90M | 659.00K | 966.00K |
| Long-Term Investments | 2.00M | 2.00M | 2.50M | 2.50M | ||
| Long-Term Deferred Tax Assets | 15.95M | |||||
| Other Long-Term Assets | 93.00K | 94.00K | 94.00K | 186.00K | 55.00K | 108.00K |
| Total Assets | 22.97M | 31.06M | 49.61M | 60.41M | 152.97M | 186.52M |
| Accounts Payable | 498.00K | 388.00K | 336.00K | 440.00K | 373.00K | 338.00K |
| Accrued Expenses | 300.00K | 255.00K | 257.00K | 316.00K | 311.00K | 270.00K |
| Current Portion of Leases | 1.46M | 1.29M | 6.56M | 494.00K | 52.00K | |
| Other Current Liabilities | 96.00K | 46.00K | 4.00K | 47.00K | 361.00K | |
| Total Current Liabilities | 2.26M | 2.02M | 7.20M | 1.25M | 731.00K | 1.02M |
| Long-Term Leases | 5.65M | 6.56M | 2.79M | 3.15M | 46.00K | |
| Total Liabilities | 7.91M | 8.59M | 9.99M | 4.40M | 731.00K | 1.07M |
| Common Stock | 7.00K | |||||
| Additional Paid-In Capital | 246.87M | 245.39M | 244.29M | 242.52M | 239.75M | 236.44M |
| Retained Earnings | -231.78M | -222.90M | -204.67M | -186.50M | -87.19M | -50.94M |
| Comprehensive Income & Other | -28.00K | -21.00K | -12.00K | -314.00K | -68.00K | |
| Shareholders' Equity | 15.06M | 22.47M | 39.62M | 56.01M | 152.24M | 185.45M |
| Total Liabilities & Equity | 22.97M | 31.06M | 49.61M | 60.41M | 152.97M | 186.52M |
| Total Debt | 7.11M | 7.85M | 9.35M | 3.64M | 98.00K | |
| Net Cash (Debt) | 6.78M | 13.68M | 28.73M | 49.91M | 152.02M | 169.17M |
| Net Cash Per Share | 1.83 | 3.75 | 7.99 | 13.94 | 42.64 | 47.55 |
| Filing Date Shares Outstanding | 4.22M | 4.19M | 4.24M | 3.68M | 3.57M | 3.56M |
| Total Common Shares Outstanding | 4.22M | 4.20M | 4.24M | 3.62M | 3.57M | 3.56M |
| Working Capital | 11.85M | 19.64M | 31.01M | 52.58M | 151.53M | 168.47M |
| Book Value Per Share | 3.57 | 5.35 | 9.35 | 15.48 | 42.63 | 52.07 |
| Tangible Book Value | 15.06M | 22.47M | 39.62M | 56.01M | 152.24M | 185.45M |
| Tangible Book Value Per Share | 3.57 | 5.35 | 9.35 | 15.48 | 42.63 | 52.07 |
| Machinery | 274.00K | 257.00K | 235.00K | 171.00K | 171.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -19.81M | -18.23M | -18.18M | -27.87M | -36.26M | -42.92M |
| Depreciation & Amortization | 26.00K | 23.00K | 21.00K | 9.00K | 7.00K | 4.00K |
| Other Amortization | 34.00K | |||||
| Loss (Gain) From Sale of Investments | 500.00K | 500.00K | ||||
| Stock-Based Compensation | 2.58M | 1.97M | 1.90M | 2.78M | 3.33M | 4.18M |
| Provision & Write-off of Bad Debts | 1.00K | 15.00K | ||||
| Other Operating Activities | 16.03M | -6.90M | ||||
| Change in Accounts Receivable | 48.00K | -19.00K | 1.00K | -3.00K | 3.00K | -9.00K |
| Change in Accounts Payable | 212.00K | 52.00K | -104.00K | 67.00K | 35.00K | -316.00K |
| Change in Income Taxes | -3.00K | 2.90M | ||||
| Change in Other Net Operating Assets | 11.00K | 55.00K | 1.03M | 232.00K | -37.00K | -8.70M |
| Operating Cash Flow | -16.43M | -15.64M | -15.33M | -24.77M | -16.89M | -51.72M |
| Capital Expenditures | -25.00K | -17.00K | -22.00K | -65.00K | -11.00K | |
| Investment in Securities | 13.12M | 8.79M | 12.48M | 36.01M | -38.53M | 1.04M |
| Investing Cash Flow | 13.10M | 8.77M | 12.46M | 35.94M | -38.53M | 1.03M |
| Issuance of Common Stock | 6.00K | 6.00K | ||||
| Repurchase of Common Stock | -878.00K | -879.00K | -129.00K | -11.00K | -29.00K | -196.00K |
| Financing Cash Flow | -872.00K | -873.00K | -129.00K | -71.44M | -29.00K | -196.00K |
| Net Cash Flow | -4.20M | -7.75M | -2.99M | -60.27M | -55.46M | -50.89M |
| Free Cash Flow | -16.45M | -15.66M | -15.35M | -24.84M | -16.89M | -51.73M |
| Free Cash Flow Margin | -14,433.33% | -9,667.28% | -306,980.00% | -354,828.57% | -35,193.75% | -147,808.57% |
| Free Cash Flow Per Share | -4.45 | -4.29 | -4.27 | -6.94 | -4.74 | -14.54 |
| Levered Free Cash Flow | -9.74M | -9.78M | -10.81M | -16.95M | -10.72M | -12.44M |
| Unlevered Free Cash Flow | -9.74M | -9.78M | -10.81M | -16.95M | -10.72M | -12.44M |
| Cash Income Tax Paid | 1.00K | 1.00K | 3.00K | 2.00K | 2.00K | |
| Change in Working Capital | 271.00K | 88.00K | 924.00K | 296.00K | -2.00K | -6.12M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 39.78M | 71.28M | 29.27M | 25.33M | 92.85M | 185.21M |
| Enterprise Value | 33.00M | 51.02M | -5.06M | -35.69M | -66.09M | 12.72M |
| Last Close Price | 9.48 | 16.69 | 7.85 | 7.00 | 8.89 | 17.79 |
| Forward PE | 4.09 | 4.09 | 4.09 | 4.09 | 4.09 | |
| PS Ratio | 348.93 | 440.00 | 5,854.72 | 3,618.43 | 1,934.42 | 5,291.58 |
| PB Ratio | 2.65 | 3.17 | 0.74 | 0.45 | 0.61 | 1.00 |
| P/TBV Ratio | 2.64 | 3.17 | 0.74 | 0.45 | 0.61 | 1.00 |
| PEG Ratio | 38.00 | 38.00 | 38.00 | 38.00 | 38.00 | |
| EV/Sales Ratio | 289.49 | 314.93 | 363.35 | |||
| Debt / Equity Ratio | 0.47 | 0.35 | 0.24 | 0.07 | 0.00 | |
| Net Debt / Equity Ratio | -0.45 | -0.61 | -0.72 | -0.89 | -1.00 | -0.91 |
| Net Debt / EBITDA Ratio | 0.34 | 0.72 | 1.41 | 1.59 | 6.89 | 10.30 |
| Net Debt / FCF Ratio | 0.41 | 0.87 | 1.87 | 2.01 | 9.00 | 3.27 |
| Asset Turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Quick Ratio | 6.15 | 10.64 | 5.29 | 42.70 | 207.99 | 165.81 |
| Current Ratio | 6.24 | 10.70 | 5.31 | 42.93 | 208.29 | 166.01 |
| Return on Equity (ROE) | -82.13% | -58.70% | -38.01% | -26.77% | -21.48% | -20.94% |
| Return on Assets (ROA) | -38.80% | -29.35% | -23.17% | -18.42% | -8.13% | -4.87% |
| Return on Invested Capital (ROIC) | -234.76% | -192.44% | -240.06% | -515.07% | -100.95% | |
| Return on Capital Employed (ROCE) | -97.10% | -65.20% | -48.10% | -53.20% | -14.50% | -8.90% |
| Earnings Yield | -56.56% | -25.57% | -62.09% | -110.04% | -39.05% | -23.18% |
| FCF Yield | -41.36% | -21.97% | -52.43% | -98.06% | -18.19% | -27.93% |
| Buyback Yield / Dilution | -1.89% | -1.42% | -0.47% | -0.39% | -0.20% | 0.64% |