VHCNasdaqPatent Owners & LessorsFiscal year ends December 31
VirnetX Holding Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 14, 2026
$10.16+0.02 (+0.20%)
Close on Oct 19, 2026
- Market cap
- $38.30M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
-12000.0%−12052.2 pts over 5 years
Net margin
-11250.0%−11342.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3140.0% | +50.0% | -77.8% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -217.7% | 243.8% | -58.7% | |
| Return on assets | -139.2% | 231.5% | -45.2% | |
| Current ratio | 3.15 | 21.67 | 10.70 | |
| Capex to revenue | 0.8% | 0.0% | 10.5% | |
| Diluted shares | 3M | 4M | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
VirnetX generated $124.36M from operations and spent $71.54M on capital expenditure, dividends and share buybacks. 0% of that went back into the business.
Generated
$124.36M
Used
$71.54M
Capital expenditure$115.00K0%Dividends$71.43M100%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-11250.0%
×Asset turnover0.00×
×Equity multiplier1.30×
=Return on equity, FY2025-58.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -11250.0% | 0.00× | 1.30× | -58.7% |
| FY2024 | -363500.0% | 0.00× | 1.15× | -38.0% |
| FY2023 | -398157.1% | 0.00× | 1.02× | -26.8% |
| FY2022 | -75541.7% | 0.00× | 1.01× | -21.5% |
| FY2021 | -122631.4% | 0.00× | 1.03× | -20.9% |
| FY2020 | 92.7% | 2.50× | 1.05× | 243.8% |
| FY2019 | -22564.7% | 0.01× | 1.24× | -247.2% |
| FY2018 | -40327.0% | 0.01× | 1.65× | -444.1% |
| FY2017 | -1116.9% | 0.12× | 2.05× | -272.1% |
| FY2016 | -1843.2% | 0.08× | 1.56× | -217.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$18.23M
- Cash generatingOperating cash flow above zero-$15.64M
- Return on assets improvedROA up on the prior year-30.1% → -36.7%
- Earnings backed by cashOperating cash flow above net income-$15.64M vs -$18.23M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose5.31 → 10.70
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.00 → 0.00