VirnetX Holding Corp VHC
VirnetX Holding Corporation ("Company", "we", "us", or "our") is an Internet security software and technology company with patented cybersecurity solutions that are designed to
ensure resilient, secure communications across any network or device.
Our flagship platform, VirnetX One™, is built on Zero Trust Network Access (ZTNA) principles and extends our patented Secure Domain Name System (SDNS) technology to establish end-to-end encrypted communications on
demand, regardless of user location or endpoint. VirnetX One™ operates as a security-as-a-service platform and may be deployed in cloud, on-premise, or hybrid enterprise environments. The platform is designed to protect applications, services, and
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $162.0K | $5.0K | $7.0K | $48.0K | $35.0K | $302.6M | $85.0K | $63.0K | $1.5M | $1.6M |
| R&D | $5.7M | $6.0M | $9.7M | $6.4M | $5.6M | $8.8M | $3.8M | $4.8M | $4.2M | $4.2M |
| SG&A | $13.4M | $14.4M | $21.7M | $15.7M | $52.7M | $45.8M | $15.9M | $20.7M | $14.7M | $25.0M |
| Total operating expenses | $19.6M | $20.4M | $31.5M | $22.1M | $49.2M | $144.7M | $19.8M | $25.5M | $18.9M | $30.1M |
| Operating income | -$19.4M | -$20.4M | -$31.4M | -$22.1M | -$49.2M | $157.9M | -$19.7M | -$25.5M | -$17.3M | -$28.5M |
| Pre-tax income | -$18.2M | -$18.2M | -$27.9M | -$20.2M | -$49.1M | $307.5M | -$19.6M | -$25.4M | -$17.3M | -$28.4M |
| Income tax | $2.0K | $3.0K | $79.0K | $16.0M | $6.2M | $27.0M | $393.0K | $3.0K | $3.0K | $133.0K |
| Net income | -$18.2M | -$18.2M | -$27.9M | -$36.3M | -$42.9M | $280.4M | -$19.2M | -$25.4M | -$17.3M | -$28.6M |
| EPS, basic | -5.00 | -5.05 | -7.79 | -10.17 | -0.60 | 3.96 | -0.28 | — | — | — |
| EPS, diluted | -5.00 | -5.05 | -7.79 | -10.17 | -0.60 | 3.92 | -0.28 | -0.40 | -0.30 | -0.51 |
| Shares, diluted (wtd. avg.) | 3,647 | 3,596 | 3,579 | 3,565 | 71.2M | 71.6M | 68.6M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $15.5M | $23.3M | $26.3M | $86.6M | $142.0M | $192.9M | $3.1M | $7.6M | $3.1M | $6.6M |
| Short-term investments | $6.0M | $14.8M | $27.3M | $65.5M | $27.3M | $28.3M | $2.4M | $1.8M | $1.5M | $9.2M |
| Receivables | $19.0K | $0 | $2.0K | $14.0K | $17.0K | $8.0K | $5.0K | $6.0K | $0 | — |
| Total current assets | $21.7M | $38.2M | $53.8M | $152.3M | $169.5M | $224.4M | $5.8M | $10.1M | $5.2M | $16.5M |
| Property, plant and equipment | $61.0K | $67.0K | $67.0K | $11.0K | $18.0K | $11.0K | $16.0K | $9.0K | $7.0K | $33.0K |
| Total assets | $31.1M | $49.6M | $60.4M | $153.0M | $186.5M | $234.8M | $7.5M | $11.8M | $7.2M | $18.9M |
| Accounts payable | $388.0K | $336.0K | $440.0K | $373.0K | $338.0K | $654.0K | $1.3M | $1.1M | $414.0K | $1.8M |
| Total current liabilities | $2.0M | $7.2M | $1.3M | $731.0K | $1.0M | $10.4M | $1.8M | $1.9M | $4.5M | $5.2M |
| Total liabilities | $8.6M | $10.0M | $4.4M | $731.0K | $1.1M | $10.4M | $1.9M | $1.9M | $5.6M | $7.7M |
| Retained earnings | -$222.9M | -$204.7M | -$186.5M | -$87.2M | -$50.9M | -$8.0M | -$217.6M | -$198.4M | -$175.5M | -$158.2M |
| Total equity | $22.5M | $39.6M | $56.0M | $152.2M | $185.4M | $224.4M | $5.6M | $9.9M | $1.6M | $11.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$15.6M | -$15.3M | -$24.8M | -$16.9M | -$51.7M | $281.4M | -$15.1M | -$22.3M | -$14.9M | -$21.9M |
| Depreciation and amortisation | $23.0K | $21.0K | $9.0K | $7.0K | $4.0K | $5.0K | $7.0K | $18.0K | $26.0K | $28.0K |
| Capital expenditure | $17.0K | $22.0K | $65.0K | $0 | $11.0K | $0 | $14.0K | $0 | $0 | $13.0K |
| Investing cash flow | $8.8M | $12.5M | $35.9M | -$38.5M | $1.0M | -$26.0M | -$606.0K | -$370.0K | $7.8M | $700.0K |
| Financing cash flow | -$873.0K | -$129.0K | -$71.4M | -$29.0K | -$196.0K | -$65.7M | $11.2M | $27.1M | $3.7M | $19.1M |
| Dividends paid | — | $0 | $71.4M | $0 | $0 | $70.8M | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-016717.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6M | $1.5M | $63.0K | $85.0K | $302.6M | $35.0K | $48.0K | $7.0K | $5.0K | $162.0K |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$28.6M | -$17.3M | -$25.4M | -$19.2M | $280.4M | -$42.9M | -$36.3M | -$27.9M | -$18.2M | -$18.2M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Regulation FD disclosure Item 7.01
- Shareholder vote Item 5.07
- Annual report filed Form 10-K
- Delisting notice Item 3.01
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- Shareholder vote Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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