Income Statement VirnetX Holding Corporation

Stocks

VHC

US92823T2078

IT Services & Consulting

Market Closed - Nasdaq Other stock markets 00:30:00 29/07/2026 +04			5-day change	1st Jan Change
13.00 ^USD	+6.73%		-11.09%	-

07-20	VirnetX Says Utah Facility Receives Facility Security Clearance	MT
06-29	VirnetX Holding Corporation(NasdaqCM:VHC) added to Russell 3000E Growth Benchmark	CI

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Published financial data: VIRNETX HOLDING CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	35K	48K	7K	5K	162K
Total Revenues	35K	48K	7K	5K	162K
Cost of Goods Sold, Total	-	-	-	-	-
Gross Profit	35K	48K	7K	5K	162K
Selling General & Admin Expenses, Total	10.89M	12.42M	21.74M	14.36M	13.45M
R&D Expenses	5.58M	6.41M	9.71M	6.04M	5.65M
Other Operating Expenses, Total	16.46M	18.82M	31.45M	20.4M	19.1M
Operating Income	-16.43M	-18.78M	-31.44M	-20.4M	-18.94M
Interest And Investment Income	48K	1.85M	3.5M	2.22M	1.21M
Net Interest Expenses	48K	1.85M	3.5M	2.22M	1.21M
EBT, Excl. Unusual Items	-16.38M	-16.93M	-27.95M	-18.17M	-17.73M
Gain (Loss) On Sale Of Investments	-	-	-	-	-500K
Legal Settlements	-32.74M	-3.3M	-	-	-
EBT, Incl. Unusual Items	-49.13M	-20.23M	-27.95M	-18.17M	-18.23M
Income Tax Expense	-9.53M	16.03M	-79K	3K	-2K
Earnings From Continuing Operations	-39.59M	-36.26M	-27.87M	-18.18M	-18.22M
Net Income to Company	-39.59M	-36.26M	-27.87M	-18.18M	-18.22M
Net Income - (IS)	-39.59M	-36.26M	-27.87M	-18.18M	-18.22M
Net Income to Common Incl Extra Items	-39.59M	-36.26M	-27.87M	-18.18M	-18.22M
Net Income to Common Excl. Extra Items	-39.59M	-36.26M	-27.87M	-18.18M	-18.22M
Per Share Items
Net EPS - Basic	-11.13	-10.17	-7.79	-5.05	-5
Basic EPS - Continuing Operations	-11.13	-10.17	-7.79	-5.05	-5
Basic Weighted Average Shares Outstanding	3.56M	3.57M	3.58M	3.6M	3.65M
Net EPS - Diluted	-11.2	-10.2	-7.79	-5.05	-5
Diluted EPS - Continuing Operations	-11.2	-10.2	-7.79	-5.05	-5
Diluted Weighted Average Shares Outstanding	3.56M	3.57M	3.58M	3.6M	3.65M
Normalized Basic EPS	-2.88	-2.97	-4.88	-3.16	-3.04
Normalized Diluted EPS	-2.88	-2.97	-4.88	-3.16	-3.04
Supplemental Items
EBITDA	-16.42M	-18.77M	-31.44M	-20.38M	-18.92M
EBITA	-16.43M	-18.78M	-31.44M	-20.4M	-18.94M
EBIT	-16.43M	-18.78M	-31.44M	-20.4M	-18.94M
EBITDAR	-15.28M	-17.29M	-29.84M	-17.4M	-15.57M
Effective Tax Rate - (Ratio)	19.41	-79.26	0.28	-0.02	0.01
Current Domestic Taxes	696K	3K	2K	3K	-2K
Total Current Taxes	696K	3K	2K	3K	-2K
Deferred Domestic Taxes	-10.23M	16.03M	-81K	-	-
Total Deferred Taxes	-10.23M	16.03M	-81K	-	-
Normalized Net Income	-10.24M	-10.58M	-17.47M	-11.36M	-11.08M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	5.58M	6.41M	9.71M	6.04M	5.65M
Net Rental Expense, Total	1.15M	1.48M	1.59M	2.98M	3.35M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	4.18M	3.33M	2.78M	1.9M	1.97M
Total Stock-Based Compensation	4.18M	3.33M	2.78M	1.9M	1.97M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	142M	86.56M	26.29M	23.3M	15.55M
Short Term Investments	27.25M	65.46M	27.26M	14.79M	5.98M
Total Cash And Short Term Investments	169M	152M	53.55M	38.08M	21.53M
Accounts Receivable, Total	17K	14K	2K	-	19K
Total Receivables	17K	14K	2K	-	19K
Prepaid Expenses	203K	224K	282K	122K	120K
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	169M	152M	53.83M	38.2M	21.67M
Gross Property Plant And Equipment	1.12M	819K	4.16M	9M	7.52M
Accumulated Depreciation	-153K	-160K	-168K	-190K	-213K
Net Property Plant And Equipment	966K	659K	3.99M	8.81M	7.3M
Long-term Investments	-	-	2.5M	2.5M	2M
Deferred Tax Assets Long-Term	19.28M	-	-	-	-
Other Long-Term Assets, Total	108K	55K	93K	94K	94K
Total Assets	190M	153M	60.41M	49.61M	31.06M
Liabilities
Accounts Payable, Total	338K	373K	440K	336K	388K
Accrued Expenses, Total	270K	311K	316K	257K	255K
Current Portion of Leases	56K	47K	494K	6.56M	1.29M
Current Income Taxes Payable	-	-	-	-	-
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	357K	-	4K	46K	96K
Total Current Liabilities	1.02M	731K	1.25M	7.2M	2.02M
Long-Term Leases	46K	-	3.14M	2.79M	6.56M
Unearned Revenue Non Current	-	-	-	-	-
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	1.07M	731K	4.4M	9.99M	8.59M
Common Stock, Total	7K	7K	-	-	-
Additional Paid In Capital	236M	240M	243M	244M	245M
Retained Earnings	-47.61M	-87.2M	-186M	-205M	-223M
Comprehensive Income and Other	-68K	-314K	-12K	-	-21K
Total Common Equity	189M	152M	56.01M	39.62M	22.47M
Total Equity	189M	152M	56.01M	39.62M	22.47M
Total Liabilities And Equity	190M	153M	60.41M	49.61M	31.06M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	3.56M	3.57M	3.68M	4.24M	4.19M
ECS Total Common Shares Outstanding	3.56M	3.57M	3.62M	4.24M	4.2M
Book Value / Share	53	42.63	15.48	9.35	5.35
Tangible Book Value	189M	152M	56.01M	39.62M	22.47M
Tangible Book Value Per Share	53	42.63	15.48	9.35	5.35
Total Debt	102K	47K	3.64M	9.35M	7.85M
Net Debt	-169M	-152M	-49.91M	-28.74M	-13.68M
Debt Equivalent Oper. Leases	9.18M	11.82M	12.74M	23.82M	26.81M
Account Code - Inventory Valuation	-	-	-	3	3
Machinery, Total	171K	171K	235K	257K	274K
Full Time Employees	24	25	27	23	21

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-39.59M	-36.26M	-27.87M	-18.18M	-18.22M
Depreciation & Amortization - CF	4K	7K	9K	21K	23K
Depreciation & Amortization, Total	4K	7K	9K	21K	23K
Amortization of Deferred Charges, Total - (CF)	34K	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	500K
Stock-Based Compensation (CF)	4.18M	3.33M	2.78M	1.9M	1.97M
Provision and Write-off of Bad Debts	-	-	15K	1K	-
Other Operating Activities, Total	-10.23M	16.03M	-	-	-
Change In Accounts Receivable	-9K	3K	-3K	1K	-19K
Change In Accounts Payable	-316K	35K	67K	-104K	52K
Change in Unearned Revenues	-	-	-	-	-
Change In Income Taxes	2.9M	-3K	-	-	-
Change in Other Net Operating Assets	-8.7M	-37K	232K	1.03M	55K
Cash from Operations	-51.72M	-16.89M	-24.77M	-15.33M	-15.64M
Capital Expenditure	-11K	-	-65K	-22K	-17K
Investment in Marketable and Equity Securities, Total	1.04M	-38.54M	36.01M	12.48M	8.79M
Cash from Investing	1.03M	-38.54M	35.94M	12.46M	8.77M
Issuance of Common Stock	-	-	-	-	6K
Repurchase of Common Stock	-196K	-29K	-11K	-129K	-879K
Special Dividend Paid	-	-	-71.43M	-	-
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-196K	-29K	-71.44M	-129K	-873K
Net Change in Cash	-50.89M	-55.46M	-60.27M	-2.99M	-7.75M
Supplemental Items
Cash Income Tax Paid (Refund)	2K	2K	-	3K	1K
Levered Free Cash Flow	-12.45M	-8.7M	-16.95M	-10.81M	-9.78M
Unlevered Free Cash Flow	-12.45M	-8.7M	-16.95M	-10.81M	-9.78M
Change In Net Working Capital	6.39M	303K	17K	-41K	-83K

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-4.84	-6.91	-18.42	-23.17	-29.35
Return on Total Capital	-4.97	-6.95	-18.55	-23.47	-29.86
Return On Equity %	-19.16	-21.48	-26.77	-38.01	-58.7
Return on Common Equity	-19.16	-21.48	-26.77	-38.01	-58.7
Margin Analysis
Gross Profit Margin %	100	100	100	100	100
SG&A Margin	31.11K	25.87K	311K	287K	8.3K
EBITDA Margin %	-46.93K	-39.1K	-449K	-408K	-11.68K
EBITA Margin %	-46.94K	-39.11K	-449K	-408K	-11.69K
EBIT Margin %	-46.94K	-39.11K	-449K	-408K	-11.69K
Income From Continuing Operations Margin %	-113K	-75.54K	-398K	-364K	-11.25K
Net Income Margin %	-113K	-75.54K	-398K	-364K	-11.25K
Net Avail. For Common Margin %	-113K	-75.54K	-398K	-364K	-11.25K
Normalized Net Income Margin	-29.25K	-22.04K	-250K	-227K	-6.84K
Levered Free Cash Flow Margin	-35.57K	-18.13K	-242K	-216K	-6.04K
Unlevered Free Cash Flow Margin	-35.57K	-18.13K	-242K	-216K	-6.04K
Asset Turnover
Asset Turnover	0	0	0	0	0
Fixed Assets Turnover	0.03	0.06	0	0	0.02
Receivables Turnover (Average Receivables)	2.8	3.1	0.88	-	-
Short Term Liquidity
Current Ratio	166.01	208.29	42.93	5.31	10.7
Quick Ratio	165.81	207.98	42.7	5.29	10.64
Operating Cash Flow to Current Liabilities	-50.66	-23.11	-19.76	-2.13	-7.73
Days Sales Outstanding (Average Receivables)	130.36	117.86	417.14	-	-
Average Days Payable Outstanding	-	-	-	-	-
Long Term Solvency
Total Debt/Equity	0.05	0.03	6.5	23.59	34.92
Total Debt / Total Capital	0.05	0.03	6.1	19.09	25.88
LT Debt/Equity	0.02	-	5.61	7.04	29.2
Long-Term Debt / Total Capital	0.02	-	5.27	5.7	21.64
Total Liabilities / Total Assets	0.56	0.48	7.28	20.13	27.65
Total Debt / EBITDA	-0.01	-0	-0.12	-0.54	-0.5
Net Debt / EBITDA	11.07	8.79	1.67	1.65	0.88
Total Debt / (EBITDA - Capex)	-0.01	-0	-0.12	-0.54	-0.5
Net Debt / (EBITDA - Capex)	11.06	8.79	1.67	1.65	0.88
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-99.99	37.14	-85.42	-28.57	3.14K
Gross Profit, 1 Yr. Growth %	-99.99	37.14	-85.42	-28.57	3.14K
EBITDA, 1 Yr. Growth %	-105.94	14.26	42.42	-35.18	-7.16
EBITA, 1 Yr. Growth %	-105.94	14.28	42.41	-35.13	-7.14
EBIT, 1 Yr. Growth %	-105.94	14.28	42.41	-35.13	-7.14
Earnings From Cont. Operations, 1 Yr. Growth %	-114.12	-15.52	-23.14	-34.79	0.28
Net Income, 1 Yr. Growth %	-114.12	-15.52	-23.14	-34.79	0.28
Normalized Net Income, 1 Yr. Growth %	-105.92	3.33	38.15	-34.98	-2.45
Diluted EPS Before Extra, 1 Yr. Growth %	-114.29	-15.45	-23.41	-35.12	-1.07
Accounts Receivable, 1 Yr. Growth %	112.5	-17.65	-85.71	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	-23.27	-31.78	505.16	126.21	-17.13
Total Assets, 1 Yr. Growth %	-19.14	-17.98	-60.51	-17.88	-37.39
Tangible Book Value, 1 Yr. Growth %	-15.89	-17.91	-63.21	-29.26	-43.28
Common Equity, 1 Yr. Growth %	-15.89	-17.91	-63.21	-29.26	-43.28
Cash From Operations, 1 Yr. Growth %	-118.38	-67.34	46.65	-38.13	2.07
Capital Expenditures, 1 Yr. Growth %	-	-	-	-66.15	-22.73
Levered Free Cash Flow, 1 Yr. Growth %	-106.82	-30.08	58.11	-36.24	-9.51
Unlevered Free Cash Flow, 1 Yr. Growth %	-106.82	-30.08	58.11	-36.24	-9.51
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-35.83	-98.74	-55.28	-67.73	381.07
Gross Profit, 2 Yr. CAGR %	-35.83	-98.74	-55.28	-67.73	381.07
EBITDA, 2 Yr. CAGR %	9.26	-73.95	38.34	-3.92	-22.43
EBITA, 2 Yr. CAGR %	9.24	-73.95	38.35	-3.89	-22.39
EBIT, 2 Yr. CAGR %	9.24	-73.95	38.35	-3.89	-22.39
Earnings From Cont. Operations, 2 Yr. CAGR %	43.68	-64.04	-19.42	-29.2	-19.14
Net Income, 2 Yr. CAGR %	43.68	-64.04	-19.42	-29.2	-19.14
Normalized Net Income, 2 Yr. CAGR %	9.45	-75.26	30.62	-5.23	-20.36
Diluted EPS Before Extra, 2 Yr. CAGR %	41.42	-63.93	-19.64	-29.51	-19.88
Accounts Receivable, 2 Yr. CAGR %	84.39	32.29	-65.7	-	208.22
Net Property, Plant and Equip., 2 Yr. CAGR %	-22.78	-27.65	103.18	265.65	36.92
Total Assets, 2 Yr. CAGR %	403.18	-19.28	-43.09	-43.05	-28.29
Tangible Book Value, 2 Yr. CAGR %	479.16	-17.64	-45.04	-48.98	-36.66
Common Equity, 2 Yr. CAGR %	479.16	-17.64	-45.04	-48.98	-36.66
Cash From Operations, 2 Yr. CAGR %	85.2	-75.5	-30.79	-4.75	-20.53
Capital Expenditures, 2 Yr. CAGR %	-11.36	-	143.09	-	-48.86
Levered Free Cash Flow, 2 Yr. CAGR %	66.17	-78.16	16.7	0.41	-24.04
Unlevered Free Cash Flow, 2 Yr. CAGR %	66.17	-78.16	16.7	0.41	-24.04
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-17.79	-17.34	-97.16	-47.72	50
Gross Profit, 3 Yr. CAGR %	-17.79	-17.34	-97.16	-47.72	50
EBITDA, 3 Yr. CAGR %	-13.57	10.9	-51.56	7.45	-5.01
EBITA, 3 Yr. CAGR %	-13.58	10.9	-51.56	7.48	-4.98
EBIT, 3 Yr. CAGR %	-13.58	10.9	-51.56	7.48	-4.98
Earnings From Cont. Operations, 3 Yr. CAGR %	15.94	23.65	-53.68	-24.91	-20.49
Net Income, 3 Yr. CAGR %	15.94	23.65	-53.68	-24.91	-20.49
Normalized Net Income, 3 Yr. CAGR %	-13.61	7.37	-53.43	3.52	-4.31
Diluted EPS Before Extra, 3 Yr. CAGR %	11.56	22.12	-53.68	-25.17	-21.08
Accounts Receivable, 3 Yr. CAGR %	41.5	40.95	-37	-	10.72
Net Property, Plant and Equip., 3 Yr. CAGR %	375.24	-25.9	46.86	108.94	122.94
Total Assets, 3 Yr. CAGR %	152.8	173.25	-36.4	-35.69	-41.22
Tangible Book Value, 3 Yr. CAGR %	167.27	200.19	-37.04	-40.22	-47.15
Common Equity, 3 Yr. CAGR %	167.27	200.19	-37.04	-40.22	-47.15
Cash From Operations, 3 Yr. CAGR %	32.37	3.86	-55.51	-33.33	-2.53
Capital Expenditures, 3 Yr. CAGR %	-	-	-	25.99	-
Levered Free Cash Flow, 3 Yr. CAGR %	-5.15	24.5	-54.71	-4.6	-3.01
Unlevered Free Cash Flow, 3 Yr. CAGR %	-5.15	24.5	-54.71	-4.6	-3.01
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-53.15	-50.07	-35.56	-43.26	-77.83
Gross Profit, 5 Yr. CAGR %	-44.52	-50.07	-35.56	-43.26	-77.83
EBITDA, 5 Yr. CAGR %	-10.42	1.65	4.32	8.17	-41.52
EBITA, 5 Yr. CAGR %	-10.44	1.63	4.32	8.18	-41.51
EBIT, 5 Yr. CAGR %	-10.44	1.63	4.32	8.18	-41.51
Earnings From Cont. Operations, 5 Yr. CAGR %	6.74	15.98	1.87	-1.07	-42.11
Net Income, 5 Yr. CAGR %	6.74	15.98	1.87	-1.07	-42.11
Normalized Net Income, 5 Yr. CAGR %	-10.44	-0.41	1.93	5.85	-42.28
Diluted EPS Before Extra, 5 Yr. CAGR %	1.88	11.49	-0.7	-2.03	-42.33
Accounts Receivable, 5 Yr. CAGR %	-	-	-19.73	-	18.89
Net Property, Plant and Equip., 5 Yr. CAGR %	96.47	148.17	238.3	40.31	42.13
Total Assets, 5 Yr. CAGR %	58.68	84.4	38.74	45.92	-33.27
Tangible Book Value, 5 Yr. CAGR %	76.1	150.19	41.46	47.75	-36.89
Common Equity, 5 Yr. CAGR %	76.1	150.19	41.46	47.75	-36.89
Cash From Operations, 5 Yr. CAGR %	18.73	2.48	2.13	0.33	-43.89
Capital Expenditures, 5 Yr. CAGR %	-3.29	-	-	9.46	-
Levered Free Cash Flow, 5 Yr. CAGR %	-0.24	2.85	3.04	19.1	-44.31
Unlevered Free Cash Flow, 5 Yr. CAGR %	-0.24	2.85	3.04	19.1	-44.31