VirnetX Holding Corporation financials
Source: EDGAR filings · Built 2026-06-02T04:18:55Z
Custom taxonomy namespace:
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Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -15.66M | -15.35M | -24.84M | -16.89M | -51.73M | 281.39M |
| EBITDA | -19.42M | -20.38M | -31.44M | -22.07M | -49.17M | 157.90M |
| Working Capital | 19.64M | 31.01M | 52.58M | 151.53M | 168.47M | 214.08M |
| Operating Margin | -12000.00% | -407940.00% | -449214.29% | -45991.67% | -140497.14% | 52.17% |
| Net Margin | -11250.00% | -363500.00% | -398157.14% | -75541.67% | -122631.43% | 92.66% |
| Return on Equity (ROE) | -81.09% | -45.87% | -49.76% | -23.82% | -23.14% | 124.95% |
| Return on Assets (ROA) | -58.67% | -36.64% | -46.13% | -23.70% | -23.01% | 119.44% |
| Current Ratio | 10.70× | 5.31× | 42.93× | 208.29× | 166.01× | 21.67× |
| Effective Tax Rate | 0.01% | -0.02% | 0.28% | -79.26% | 12.63% | 8.79% |
| Cash Conversion Ratio | 0.86× | 0.84× | 0.89× | 0.47× | 1.21× | 1.00× |
| Accruals Ratio | -0.08× | -0.06× | -0.05× | -0.13× | 0.05× | -0.00× |
| SBC % of Revenue | 1216.05% | 38040.00% | 39685.71% | 6937.50% | 11954.29% | 1.30% |
| CapEx Coverage | -920.24× | -696.68× | -381.12× | — | -4702.00× | — |
| Free Cash Flow Per Share | $-4294.21 | $-4268.35 | $-6939.93 | $-4738.57 | $-0.73 | $3.93 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | — | — | — | 1.29× |
| P/FCF | — | — | — | — | — | 1.28× |
| FCF Yield | — | — | — | — | — | 77.96% |
| EV / EBITDA | — | — | — | — | — | 1.05× |
| P/S | 432.90× | 6654.57× | 3618.43× | 96.72× | 5291.58× | 1.18× |
| P/B | 3.12× | 0.84× | 0.45× | 0.03× | 1.00× | 1.60× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 162.00K | 5.00K | 7.00K | 48.00K | 35.00K | 302.64M |
| Research and Development Expense | 5.65M | 6.04M | 9.71M | 6.41M | 5.58M | 8.83M |
| Selling, General and Administrative Expense | 13.45M | 14.36M | 21.74M | 15.72M | 52.72M | 45.81M |
| Operating Expenses | 19.60M | 20.40M | 31.45M | 22.12M | 49.21M | 144.74M |
| Operating Income (Loss) | -19.44M | -20.40M | -31.45M | -22.08M | -49.17M | 157.89M |
| Income Tax Expense (Benefit) | -2.00K | 3.00K | -79.00K | 16.03M | -6.21M | 27.02M |
| Net Income (Loss) Attributable to Parent | -18.23M | -18.18M | -27.87M | -36.26M | -42.92M | 280.43M |
| Earnings Per Share, Basic | $-5.00 | $-5.05 | $-7.79 | $-10.17 | $-0.60 | $3.96 |
| Weighted Average Number of Shares Outstanding, Basic | 3,647 | 3,596 | 3,579 | 3,565 | 71.16M | 70.85M |
| Earnings Per Share, Diluted | $-5.00 | $-5.05 | $-7.79 | $-10.17 | $-0.60 | $3.92 |
| Weighted Average Number of Shares Outstanding, Diluted | 3,647 | 3,596 | 3,579 | 3,565 | 71.16M | 71.62M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 15.55M | 23.30M | 26.29M | 86.56M | 142.02M | 192.91M |
| Assets, Current | 21.67M | 38.20M | 53.83M | 152.26M | 169.49M | 224.43M |
| Assets | 31.06M | 49.61M | 60.41M | 152.97M | 186.52M | 234.79M |
| Liabilities, Current | 2.02M | 7.20M | 1.25M | 731.00K | 1.02M | 10.36M |
| Liabilities | 8.59M | 9.99M | 4.40M | 731.00K | 1.07M | 10.36M |
| Stockholders' Equity Attributable to Parent | 22.47M | 39.62M | 56.01M | 152.24M | 185.45M | 224.44M |
| Common Stock, Shares, Outstanding | 4.20M | 4.24M | 3.62M | 3.57M | 71.23M | 71.06M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -15.64M | -15.33M | -24.77M | -16.89M | -51.72M | 281.39M |
| Payments to Acquire Property, Plant, and Equipment | 17.00K | 22.00K | 65.00K | 0 | 11.00K | 0 |
| Net Cash Provided by (Used in) Investing Activities | 8.77M | 12.46M | 35.94M | -38.53M | 1.03M | -25.95M |
| Payments of Dividends | — | 0 | 71.43M | 0 | — | — |
| Net Cash Provided by (Used in) Financing Activities | -873.00K | -129.00K | -71.44M | -29.00K | -196.00K | -65.66M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | — | -5.81M | -9.85M | -6.83M | — | -5.52M |
| EBITDA | -4.50M | -6.80M | — | — | -4.04M | -6.66M |
| Working Capital | 15.50M | 19.64M | 26.36M | 29.59M | 32.62M | 31.01M |
| Net Debt | -7.56M | — | -9.20M | -9.29M | -15.13M | — |
| Operating Margin | — | -12151.79% | -8006.90% | -8216.67% | — | — |
| Net Margin | — | -11744.64% | -7496.55% | -7543.75% | — | — |
| Return on Equity (ROE) | -23.09% | -29.26% | -14.84% | -10.92% | -10.12% | -15.69% |
| Return on Assets (ROA) | -16.31% | -21.17% | -11.45% | -8.66% | -8.16% | -12.53% |
| Current Ratio | 8.53× | 10.70× | 13.72× | 16.26× | 17.72× | 5.31× |
| Debt-to-Equity | 0.38× | — | 0.27× | 0.24× | 0.22× | — |
| Effective Tax Rate | 0.00% | 0.06% | 0.00% | 0.00% | -0.05% | 0.00% |
| Cash Conversion Ratio | 0.99× | 0.88× | 2.26× | 1.89× | 1.06× | 0.89× |
| Accruals Ratio | -0.00× | -0.02× | 0.14× | 0.08× | 0.00× | -0.01× |
| SBC % of Revenue | — | 1103.57% | 2331.03% | 1816.67% | — | — |
| CapEx Coverage | — | — | -578.59× | — | — | -500.91× |
| Free Cash Flow Per Share | — | $-1592.54 | $-2.68 | $-1.87 | — | $-1535.32 |
Valuation Metrics
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 56.00K | 58.00K | 48.00K | 0 | 0 |
| Research and Development Expense | 1.16M | 2.04M | 1.14M | 1.22M | 1.26M | 2.37M |
| Selling, General and Administrative Expense | 3.35M | 4.82M | 3.06M | 2.78M | 2.79M | 4.30M |
| Operating Expenses | 4.51M | 6.86M | 4.70M | 3.99M | 4.05M | 6.67M |
| Operating Income (Loss) | -4.51M | -6.80M | -4.64M | -3.94M | -4.05M | -6.67M |
| Income Tax Expense (Benefit) | 0 | -4.00K | 0 | 0 | 2.00K | 0 |
| Net Income (Loss) Attributable to Parent | -4.35M | -6.58M | -4.35M | -3.62M | -3.68M | -6.21M |
| Earnings Per Share, Basic | $-1.16 | $-1.83 | $-1.18 | $-0.99 | $-1.01 | $-1.73 |
| Weighted Average Number of Shares Outstanding, Basic | 3.75M | 3,647 | 3.67M | 3.66M | 3.63M | 3,596 |
| Earnings Per Share, Diluted | $-1.16 | $-1.83 | $-1.18 | $-0.99 | $-1.01 | $-1.73 |
| Weighted Average Number of Shares Outstanding, Diluted | 3.75M | 3,647 | 3.67M | 3.66M | 3.63M | 3,596 |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 14.77M | 15.55M | 17.13M | 17.29M | 23.22M | 23.30M |
| Assets, Current | 17.56M | 21.67M | 28.43M | 31.54M | 34.58M | 38.20M |
| Assets | 26.69M | 31.06M | 37.98M | 41.82M | 45.11M | 49.61M |
| Liabilities, Current | 2.06M | 2.02M | 2.07M | 1.94M | 1.95M | 7.20M |
| Liabilities | 7.84M | 8.59M | 8.69M | 8.65M | 8.75M | 9.99M |
| Stockholders' Equity Attributable to Parent | 18.85M | 22.47M | 29.29M | 33.17M | 36.36M | 39.62M |
| Common Stock, Shares, Outstanding | 4.19M | 4.20M | 4.27M | 4.27M | 4.24M | 4.24M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -4.30M | -5.81M | -9.84M | -6.83M | -3.89M | -5.51M |
| Payments to Acquire Property, Plant, and Equipment | — | 0 | 17.00K | 0 | — | 11.00K |
| Net Cash Provided by (Used in) Investing Activities | 3.52M | 5.08M | 3.69M | 836.00K | 3.82M | 3.80M |
| Payments of Dividends | — | — | — | — | — | 0 |
| Net Cash Provided by (Used in) Financing Activities | -1.00K | -854.00K | -19.00K | -7.00K | 0 | -120.00K |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (VHC CIK 0001082324),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.