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VirnetX Holding Corp

VHC

$9.67 ▲ +0.16 (+1.68%) at close

18 Visible periods

33 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

VirnetX Holding Corp faces fundamental challenges with weakness in Return on Common Equity (%). The fundamentals warrant careful consideration of downside risks.

Market Cap —

Dividend Yield —

Revenue Growth 3140.0% ↗

Op. Margin None

ROIC None

FCF / Share None

Trailing P/E —

Price / Book 1.8x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Nov 5, 2026.

18-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$162.00K

↑ +3140.0% —

Net Income Profit after all expenses

$-18.23M

— -0.3% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Returns ↓

Dividend History

Dividend / share · sourced from SEC filings

$0.00 Latest / share

-100.0% YoY

FY 2014

FY 2015

FY 2016

FY 2017

FY 2018

FY 2019

$20.00

FY 2020

$0.00

FY 2021

$0.00

FY 2022

$20.00

FY 2023

$0.00

FY 2024

FY 2025

Financial view

Statement lens

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📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue Growth YoY (%)	3140.0% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+62700%)	-28.6% Weak ↑ Weak Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-671%)	-85.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1808%)	37.1% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+643%)	-100.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-2100%)	355942.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+7118747%)	34.9% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+598%)	-95.9% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-2019%)	—	—	—	—	—	—	—	—	—	—
EPS Growth YoY (%)	1.0% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	35.2% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	23.4% Good Good Year-over-year change in earnings per share Optimal: > 10%	15.2% Good Good Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	—	—	—	—	—	—	—	-51.4% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	—	—
Net Income Growth YoY (%)	-0.3% Weak ↓ Weak Declining Year-over-year change in net income	34.8% Excellent ↑ Excellent Improving Year-over-year change in net income	23.1% Good Good Year-over-year change in net income	15.5% Good Good Year-over-year change in net income	N/M	N/M	24.5% Good ↑ Good Improving Year-over-year change in net income	-47.0% Weak ↑ Weak Improving Year-over-year change in net income	39.5% Excellent ↑ Excellent Improving Year-over-year change in net income	2.3% Caution ↑ Caution Improving Year-over-year change in net income	-195.2% Weak ↓ Weak Declining Year-over-year change in net income	64.1% Excellent ↑ Excellent Improving Year-over-year change in net income	-2.5% Weak Weak Year-over-year change in net income	-56.0% Weak Weak Year-over-year change in net income	N/M	N/M	—	—
FCF Growth YoY (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Revenue CAGR 3Y (%)	50.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	-47.7% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-97.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-17.3% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-17.8% Weak Weak Compound annual revenue growth over 3 years	480.5% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 5Y (%)	-77.8% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-43.3% Weak → Weak Stable Compound annual revenue growth over 5 years	-35.6% Weak Weak Compound annual revenue growth over 5 years	-50.1% Weak Weak Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Operating Margin (%) (%)	—	—	—	—	—	52.2% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+74%)	—	—	—	—	—	—	—	—	—	—	—	—
Effective Tax Rate (%) (%)	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.3% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-79.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	12.6% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	8.8% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	—	—	—	—	—	92.7% Excellent Excellent Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+271%)	—	—	—	—	—	—	—	—	—	—	—	—
FCF Margin (%) (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF / Net Income (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Return on Invested Capital (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Capital (%) (%)	-62.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-41.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-52.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-14.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-26.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	67.2% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	-262.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-216.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-241.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-151.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-131.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-27.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-72.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-63.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-23.3% Weak Weak Operating profit relative to total assets Optimal: > 10%	128.1% Excellent Excellent Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-81.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1114%)	-45.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-673%)	-49.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-722%)	-23.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-398%)	-23.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-389%)	124.9% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+1462%)	—	-256.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-3312%)	—	-256.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-3304%)	-193.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-2521%)	-30.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-479%)	-81.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1114%)	-49.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-724%)	-25.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-416%)	69.7% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+771%)	143.8% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+1698%)	—

⚖️ Is the balance sheet risky? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Interest Coverage (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Debt (USD)	$-15.55M	$-23.30M	$-26.29M	$-86.56M	$-142.02M	$-192.91M	$-3.13M	$-7.61M	$-3.13M	$-6.63M	$-8.73M	$-18.66M	$-19.17M	$-19.66M	$-49.48M	$-34.63M	$-2.01M	$-457.00K
Debt / EBITDA (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue per Share (USD)	—	—	—	—	$0.01	$85.43	$0.02	—	—	—	—	—	—	—	—	—	—	—
Basic EPS, GAAP (USD)	$-5.00	$-5.05	$-7.79	$-10.17	$-12.00	$79.20	$-5.60	—	—	—	—	—	—	$-10.60	$-7.00	$18.20	$-6.60	—
Free Cash Flow per Share (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend per Share (USD)	—	$0.00	$20.00	$0.00	$0.00	$20.00	—	—	—	—	—	—	—	$0.00	$0.00	$10.00	$0.00	—
Book Value per Share (USD)	$5.35	$9.35	$15.48	$42.63	$52.07	$63.17	$1.62	$2.96	$0.53	$3.83	$5.67	$12.55	$13.28	$21.09	$26.98	$24.10	$-4.59	—
Tangible Book Value per Share (USD)	$5.35	$9.35	$15.48	$42.63	$52.07	$63.17	$1.62	$2.96	$0.53	$3.83	$5.67	$12.55	$13.28	$21.09	$26.98	$24.10	$-4.59	—
Basic Weighted Avg Shares (shares)	3,647	3,596	3,579	3,565	3.56M	3.54M	3.43M	—	—	—	—	2.58M	2.56M	2.55M	2.50M	2.27M	1.90M	—
Dividend Payout Ratio (%)	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	54.9% Fair Fair Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Working Capital (USD)	$19.64M	$31.01M	$52.58M	$151.53M	$168.47M	$214.08M	$3.94M	$8.28M	$697.00K	$11.24M	$13.79M	$29.92M	$33.97M	$53.86M	$68.11M	$57.67M	—	—
Total Equity (USD)	$22.47M	$39.62M	$56.01M	$152.24M	$185.45M	$224.44M	$5.63M	$9.89M	$1.55M	$11.15M	$15.10M	$32.63M	$34.02M	$53.94M	$68.28M	$59.45M	$-8.71M	$-895.00K

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Sales/Revenue/Turnover (USD)	$162.00K	$5.00K	$7.00K	$48.00K	$35.00K	$302.64M	$85.00K	$63.00K	$1.55M	—	—	—	—	—	—	—	—	—
Depreciation Expense (USD)	$23.00K	$21.00K	$9.00K	$7.00K	$4.00K	$5.00K	$7.00K	$18.00K	$26.00K	$28.00K	$26.00K	$25.00K	$36.00K	$71.00K	$68.00K	$59.00K	$63.00K	—
Net Income, GAAP (USD)	$-18.23M	$-18.18M	$-27.87M	$-36.26M	$-42.92M	$280.43M	$-19.18M	$-25.41M	$-17.28M	$-28.57M	$-29.23M	$-9.90M	$-27.61M	$-26.92M	$-17.26M	$41.42M	$-12.52M	—
Operating Cash Flow (USD)	$-15.64M	$-15.33M	$-24.77M	$-16.89M	$-51.72M	$281.39M	$-15.08M	$-22.30M	$-14.94M	$-21.92M	—	—	$-7.28M	$-19.59M	$-18.25M	$75.88M	$-6.95M	—

🏛️ Sector-Specific 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
FFO (approx.) (USD)	—	—	—	—	—	—	—	—	—	—	$-29.21M	$-9.88M	$-27.57M	$-26.85M	$-17.20M	$41.48M	$-12.46M	—
FFO per Share (approx.) (USD)	—	—	—	—	—	—	—	—	—	—	—	$-3.83	$-10.77	$-10.54	$-6.87	$18.25	$-6.57	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 4 days ago 18 years · 67 quarters

VirnetX Holding Corp

Analytical Summary

18-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Dividend History

Statement lens

Benchmark Lens

Signals

Percentile Rankings

Peer Comparison

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