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Financials · VHC

VirnetX Holding Corp (VHC) financials

For the twelve months ended Jun 30, 2026, VirnetX Holding Corp reported $114.0K of revenue and -$19.81M of net income.

Revenue, TTM
$114.0K
Revenue growth, YoY
+128.0%
Net income, TTM
-$19.81M
Net margin
-17373.7%
Cash
$13.09M
P/S
357.40
Market cap
$40.7M
Annual revenue$162.0K
FY2016FY2025
Annual net income-$18.23M
FY2016FY2025
Annual free cash flow-$15.66M
FY2016FY2025

VHC revenue and earnings growth

VHC revenueQ2 2026$0

Quarter YoY
-100.0%
FY YoY
32x
5Y CAGR
-77.8%

VHC revenue was $0 in fiscal Q2 2026 (ended Jun 30, 2026), down 100.0% from a year earlier. For the full fiscal 2025 it was $162.0K, up about 32-fold from fiscal 2024. Compound annual growth was -77.8% over 5 years. It rose in 4 of the last 9 fiscal years.

VHC net incomeQ2 2026-$4.53M

VHC net income was -$4.53M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$3.62M a year earlier. For the full fiscal 2025 it was -$18.23M, compared with -$18.18M in fiscal 2024.

VHC EPSQ2 2026-$1.20

VHC diluted EPS was -$1.20 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$0.99 a year earlier. For the full fiscal 2025 it was -$5.00, compared with -$5.05 in fiscal 2024.

VHC free cash flowQ4 2025-$5.81M

VHC free cash flow was -$5.81M in fiscal Q4 2025 (ended Dec 31, 2025), compared with -$5.52M a year earlier. For the full fiscal 2025 it was -$15.66M, compared with -$15.35M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$162.0K$5.0K$7.0K$48.0K$35.0K$302.64M$85.0K$63.0K$1.55M$1.55M
Research and development$5.65M$6.04M$9.71M$6.41M$5.58M$8.83M$3.85M$4.82M$4.16M$4.16M
Selling, general and admin$13.45M$14.36M$21.74M$15.72M$52.72M$45.81M$15.90M$20.70M$14.71M$25.02M
Operating income-$19.44M-$20.40M-$31.45M-$22.08M-$49.17M$157.89M-$19.66M-$25.46M-$17.32M-$28.50M
Pre-tax income-$18.23M-$18.17M-$27.95M-$20.23M-$49.13M$307.45M-$19.57M-$25.40M-$17.27M-$28.44M
Income tax-$2.0K$3.0K-$79.0K$16.03M-$6.21M$27.02M-$393.0K$3.0K$3.0K$133.0K
Net income-$18.23M-$18.18M-$27.87M-$36.26M-$42.92M$280.43M-$19.18M-$25.41M-$17.28M-$28.57M
EPS, basic-$5.00-$5.05-$7.79-$10.17-$12.00$79.20-$5.60-$8.00-$6.00-$10.20
EPS, diluted-$5.00-$5.05-$7.79-$10.17-$12.00$78.40-$5.60-$8.00-$6.00-$10.20
Diluted shares3,6473,5963,5793,5653.6M3.6M3.4M3.1M2.9M2.8M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$15.55M$23.30M$26.29M$86.56M$142.02M$192.91M$3.13M$7.61M$3.13M$6.63M
Receivables$19.0K$0$2.0K$14.0K$17.0K$8.0K$5.0K$6.0K$0-
Current assets$21.67M$38.20M$53.83M$152.26M$169.49M$224.43M$5.77M$10.14M$5.18M$16.46M
Total assets$31.06M$49.61M$60.41M$152.97M$186.52M$234.79M$7.50M$11.75M$7.17M$18.87M
Current liabilities$2.02M$7.20M$1.25M$731.0K$1.02M$10.36M$1.83M$1.86M$4.48M$5.22M
Total liabilities$8.59M$9.99M$4.40M$731.0K$1.07M$10.36M$1.87M$1.86M$5.62M$7.72M
Shareholders' equity$22.47M$39.62M$56.01M$152.24M$185.45M$224.44M$5.63M$9.89M$1.55M$11.15M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$15.64M-$15.33M-$24.77M-$16.89M-$51.72M$281.39M-$15.08M-$22.30M-$14.94M-$21.92M
Capital expenditures$17.0K$22.0K$65.0K$0$11.0K$0$14.0K$0$0$13.0K
Free cash flow-$15.66M-$15.35M-$24.84M-$16.89M-$51.73M$281.39M-$15.09M-$22.30M-$14.94M-$21.93M
Investing cash flow$8.77M$12.46M$35.94M-$38.53M$1.03M-$25.95M-$606.0K-$370.0K$7.79M$700.0K
Financing cash flow-$873.0K-$129.0K-$71.44M-$29.0K-$196.0K-$65.66M$11.21M$27.14M$3.66M$19.12M
Dividends paid-$0$71.43M$0$0$70.84M$0---

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY3140.0%-28.6%-85.4%37.1%-100.0%355942.4%34.9%-95.9%-0.2%-
Operating margin-12000.0%-407940.0%-449214.3%-45991.7%-140497.1%52.2%-23135.3%-40407.9%-1119.7%-1839.0%
Net margin-11250.0%-363500.0%-398157.1%-75541.7%-122631.4%92.7%-22564.7%-40327.0%-1116.9%-1843.2%
Free cash flow margin-9667.3%-306980.0%-354828.6%-35193.8%-147808.6%93.0%-17757.6%-35393.7%-966.0%-1415.2%
Return on equity-81.1%-45.9%-49.8%-23.8%-23.1%124.9%-340.8%-256.9%-1112.6%-256.3%
Return on assets-58.7%-36.6%-46.1%-23.7%-23.0%119.4%-255.8%-216.2%-240.8%-151.4%
Current ratio10.705.3142.93208.29166.0121.673.165.441.163.15

Source: XBRL data VirnetX Holding Corp files with the SEC, latest filing dated Aug 14, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 1-for-20, first reported Nov 9, 2023.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

VHC peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
VHC$114.0K+128.0%-$19.81M-17373.7%$40.7M
IDCC$817.25M-12.0%$314.90M38.5%$7.35B
DLB$1.35B+0.6%$226.18M16.7%$6.07B
APPS$600.31M+19.2%-$34.96M-5.8%$1.26B
ACTG$273.37M-3.7%-$17.84M-6.5%$414.7M
JYNT$58.72M+7.9%$2.83M4.8%$96.9M
AMOD$7.1K--$8.02M-112373.7%$59.3M
NTIP$150.0K+50.0%-$2.42M-1613.3%$36.5M
RMCO$6.17M+133.5%-$895.7K-14.5%$33.3M

VHC FAQ

6 questions
  • What is VHC revenue?
    VirnetX Holding Corp (VHC) reported $114.0K of revenue for the twelve months ended Jun 30, 2026. That is up 128.0% from the year before. Revenue for fiscal 2025 was $162.0K.
  • Is VHC profitable?
    No. VirnetX Holding Corp reported a net loss of $19.81M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does VHC have?
    VirnetX Holding Corp reported $13.09M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is VHC revenue growing?
    VirnetX Holding Corp's revenue changed 32x in fiscal 2025, to $162.0K. Its compound annual growth rate was -77.8% over 5 years.
  • When did VHC last report financial results?
    The latest statements here come from VirnetX Holding Corp's 10-Q filed on Aug 14, 2026, covering the period ended Jun 30, 2026.
  • Where does this VHC financial data come from?
    Quantisnow builds these statements from the structured XBRL data VirnetX Holding Corp files with the SEC. It is provided for information only and is not investment advice.