VirnetX Holding Corp
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $162,000 | $5,000 | $7,000 | $48,000 | $35,000 |
| Selling, general & administrative | $13.4M | $14.4M | $21.7M | $15.7M | $52.7M |
| Research and development | $5.7M | $6.0M | $9.7M | $6.4M | $5.6M |
| Operating expenses | $19.6M | $20.4M | $31.5M | $22.1M | $49.2M |
| Operating income | -$19.4M | -$20.4M | -$31.4M | -$22.1M | -$49.2M |
| Pretax income | -$18.2M | -$18.2M | -$27.9M | -$20.2M | -$49.1M |
| Income tax expense | -$2,000 | $3,000 | -$79,000 | $16.0M | -$6.2M |
| Net income | -$18.2M | -$18.2M | -$27.9M | -$36.3M | -$42.9M |
| Balance Sheet | |||||
| Cash and equivalents | $15.5M | $23.3M | $26.3M | $86.6M | $142.0M |
| Current assets | $21.7M | $38.2M | $53.8M | $152.3M | $169.5M |
| Total assets | $31.1M | $49.6M | $60.4M | $153.0M | $186.5M |
| Current liabilities | $2.0M | $7.2M | $1.3M | $731,000 | $1.0M |
| Total liabilities | $8.6M | $10.0M | $4.4M | $731,000 | $1.1M |
| Stockholders' equity | $22.5M | $39.6M | $56.0M | $152.2M | $185.4M |
| Cash Flow Statement | |||||
| Cash from operations | -$15.6M | -$15.3M | -$24.8M | -$16.9M | -$51.7M |
| Depreciation and amortization | $23,000 | $21,000 | $9,000 | $7,000 | $4,000 |
| Stock-based compensation | $2.0M | $1.9M | $2.8M | $3.3M | $4.2M |
| Capital expenditure | $17,000 | $22,000 | $65,000 | $0 | $11,000 |
| Free cash flow | -$15.7M | -$15.3M | -$24.8M | -$16.9M | -$51.7M |
| Dividends paid | — | $0 | $71.4M | $0 | $0 |
Shares outstanding 4.2M · Free float 84.0%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.