VHC

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VirnetX Holding Corp

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Key Metrics

Previous Close: $13.89
52-Week Range: $9.82 – $29.00
Market Cap: $55.70M
P/E (TTM): —
EPS (TTM): -5.37
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: -68.46%
Return on Assets: -33.77%
Gross Margin: 100.00%
Operating Margin: -11975.93%
Profit Margin: 0.00%
Current Ratio: 8.53
Debt/Equity: 0.38
Total Debt: $7.22M
Free Cash Flow: $-9.82M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $52.78M

VHC Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$48.00K	$7.00K	$5.00K	$162.00K
Research & Development	$6.41M	$9.71M	$6.04M	$5.65M
Selling, General & Admin	$15.72M	$21.74M	$14.36M	$13.45M
Operating Expenses	$22.12M	$31.45M	$20.40M	$19.10M
Operating Income	-$22.08M	-$31.45M	-$20.40M	-$18.94M
EBITDA	-$22.07M	-$31.44M	-$20.38M	-$18.92M
Pretax Income	-$20.23M	-$27.95M	-$18.17M	-$18.23M
Income Tax	$16.03M	-$79.00K	$3.00K	-$2.00K
Net Income	-$36.26M	-$27.87M	-$18.18M	-$18.23M
Diluted EPS	-10.17	-7.79	-5.05	-5.00
Diluted Shares	3.56M	3.58M	3.60M	3.65M

VHC Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$86.56M	$26.29M	$23.30M	$15.55M
Receivables	$14.00K	$2.00K	$0.00	$19.00K
Current Assets	$152.26M	$53.83M	$38.20M	$21.67M
Total Assets	$152.97M	$60.41M	$49.61M	$31.06M
Current Liabilities	$731.00K	$1.25M	$7.20M	$2.02M
Total Liabilities	$731.00K	$4.40M	$9.99M	$8.59M
Retained Earnings	-$87.19M	-$186.50M	-$204.67M	-$222.90M
Shareholders' Equity	$152.24M	$56.01M	$39.62M	$22.47M
Working Capital	$151.53M	$52.58M	$31.01M	$19.64M

VHC Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$16.89M	-$24.77M	-$15.33M	-$15.64M
Capital Expenditure	—	-$65.00K	-$22.00K	-$17.00K
Free Cash Flow	-$16.89M	-$24.84M	-$15.35M	-$15.66M
Depreciation & Amortisation	$7.00K	$9.00K	$21.00K	$23.00K
Stock-Based Compensation	$3.33M	$2.78M	$1.90M	$1.97M
Investing Cash Flow	-$38.53M	$35.94M	$12.46M	$8.77M
Financing Cash Flow	-$29.00K	-$71.44M	-$129.00K	-$873.00K
Dividends Paid	$0.00	-$71.43M	$0.00	—
Net Change in Cash	-$55.46M	-$60.27M	-$2.99M	-$7.75M

VHC Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$48.00K	$58.00K	$56.00K	$0.00
Research & Development	$1.26M	$1.22M	$1.14M	$2.04M	$1.16M
Selling, General & Admin	$2.79M	$2.78M	$3.06M	$4.82M	$3.35M
Operating Expenses	$4.05M	$3.99M	$4.20M	$6.86M	$4.51M
Operating Income	-$4.05M	-$3.94M	-$4.14M	-$6.80M	-$4.51M
EBITDA	-$4.04M	-$3.94M	-$4.14M	-$6.80M	-$4.50M
Pretax Income	-$3.68M	-$3.62M	-$4.35M	-$6.58M	-$4.35M
Income Tax	$2.00K	$0.00	$0.00	-$4.00K	$0.00
Net Income	-$3.68M	-$3.62M	-$4.35M	-$6.58M	-$4.35M
Diluted EPS	-1.01	-0.99	-1.18	—	-1.16
Diluted Shares	3.63M	3.66M	3.67M	—	3.75M

VHC Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$23.22M	$17.29M	$17.13M	$15.55M	$14.77M
Receivables	—	$48.00K	$19.00K	$19.00K	$0.00
Current Assets	$34.58M	$31.54M	$28.43M	$21.67M	$17.56M
Total Assets	$45.11M	$41.82M	$37.98M	$31.06M	$26.69M
Current Liabilities	$1.95M	$1.94M	$2.07M	$2.02M	$2.06M
Total Liabilities	$8.75M	$8.65M	$8.69M	$8.59M	$7.84M
Retained Earnings	-$208.35M	-$211.97M	-$216.32M	-$222.90M	-$227.25M
Shareholders' Equity	$36.36M	$33.17M	$29.29M	$22.47M	$18.85M
Working Capital	$32.62M	$29.59M	$26.36M	$19.64M	$15.50M

VHC Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$3.89M	-$2.94M	-$3.00M	-$5.81M	-$4.30M
Free Cash Flow	-$3.89M	-$2.94M	-$3.02M	-$5.81M	-$4.30M
Depreciation & Amortisation	$5.00K	$5.00K	$6.00K	$7.00K	$6.00K
Stock-Based Compensation	$431.00K	$441.00K	$480.00K	$618.00K	$739.00K
Investing Cash Flow	$3.82M	-$2.98M	$2.85M	$5.08M	$3.52M
Financing Cash Flow	$0.00	-$7.00K	-$12.00K	-$854.00K	-$1.00K
Net Change in Cash	-$74.00K	-$5.93M	-$164.00K	-$1.58M	-$774.00K

Market Snapshot

About

VirnetX Holding develops software and technology solutions for secure communications. The company focuses on internet security software and secure domain name registry technologies, including patents related to secure real-time communications.