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VirnetX Holding Corp(VHC)Earnings, Financials & Key Ratios
VHC•NASDAQ
$11.77
Price updated Jul 7, 2026
AboutVirnetX Holding Corporation, through its subsidiary VirnetX, Inc., operates as an Internet security software and technology company primarily in the United States. The company develops software and technology solutions, including secure domain name registry and GABRIEL Connection Technology that are designed to secure communications over the Internet using zero trust network access. It also offers a portfolio of licenses and services, such as VirnetX One, a security-as-a-service platform that protects enterprise applications, services, and infrastructure from cyber-attacks; GABRIEL Connection Technology software development kit to assist with rapid integration of its techniques into existing software implementations; and War Room software that offers safe and secure video conferencing meeting environment where sensitive communications and data is invisible to those not authorized to view it. In addition, the company provides GABRIEL Collaboration Suite that enables seamless and secure cross-platform communications between users' devices. It serves domain infrastructure and communication service providers, and system integrators; and enterprise customers, developers, and original equipment manufacturers of chips, servers, desktops, smart phones, tablets, laptops, net books, and other devices in the IP-telephony, mobility, fixed-mobile convergence, and unified communications markets. The company was incorporated in 2005 and is headquartered in Zephyr Cove, Nevada.Show more
- Revenue$162K+3140.0%
- EBITDA-$19M+7.2%
- Net Income-$18M-0.3%
- EPS (Diluted)-5.00+1.0%
- Gross Margin85.8%-14.2%
- EBITDA Margin-11677.16%+97.1%
- Operating Margin-11691.36%+97.1%
- Net Margin-11250%+96.9%
- ROE-58.7%-54.4%
VHC Price & Volume
VirnetX Holding Corp (VHC) stock price & volume — 10-year historical chart
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Persistent Operating Losses Threaten Liquidity Runway Stability
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Liquidity exhaustion from burn
Key Thesis Takeaways
- VirnetX faces a challenging fundamental outlook as it struggles to transition from a patent-centric model to a scalable SaaS business, evidenced by negligible quarterly revenue that peaked at only $58,000 in 2025Q3.
- The company's high fixed-cost structure, characterized by SG&A expenses consistently exceeding $3 million per quarter, remains decoupled from its minimal commercial output.
- Investors should monitor the rapid erosion of the cash balance, which fell from $27.6 million in 2024Q1 to $14.8 million in 2026Q1, as the firm lacks a clear path to self-sustaining profitability.
Verdict Logic
the company's inability to generate meaningful revenue against a $4 million quarterly operating loss suggests an unsustainable business model that risks further shareholder dilution.
VHC Growth Metrics
VirnetX Holding Corp (VHC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-20.24%
5 Years-77.83%
3 Years50%
TTM5300%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-7.61%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-0.41%
Return on Capital
10 Years-108.26%
5 Years-32%
3 Years-40.98%
Last Year-53.02%
VHC Recent Earnings
VirnetX Holding Corp (VHC) EPS & revenue vs analyst estimates — last 4 quarters
Q2 2026Latest
May 15, 2026Metric
Actual
Est
EPS
$1.16
—
Rev
—
—
Q2 2026
Mar 24, 2026Metric
Actual
Est
EPS
$1.83
—
Rev
$56,000
—
Q4 2025
Nov 14, 2025Metric
Actual
Est
EPS
$1.18
—
Rev
$58,000
—
Q3 2025
Aug 12, 2025Metric
Actual
Est
EPS
$0.99
—
Rev
$48,000
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 15, 2026 | $1.16 | — |
| Q2 2026 | Mar 24, 2026 | $1.83 | $56,000 |
| Q4 2025 | Nov 14, 2025 | $1.18 | $58,000 |
| Q3 2025 | Aug 12, 2025 | $0.99 | $48,000 |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for VirnetX Holding Corp (VHC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $11.77 | $49.27M | -2.35 | 3140% | -11250% | -58.7% | — | |
| $4.45 | $429.82M | 20.23 | 133.2% | -8.53% | -3.18% | — | |
| $12.05 | $4.59B | -3.27 | 38.2% | -234.83% | -51.65% | — | |
| $276.02 | $7.11B | 23.39 | -3.97% | 44.2% | 33.37% | — | |
| $182.97 | $192.85B | 36.52 | 13.66% | 22.31% | 40.19% | — | |
| $42.76 | $1.19B | -97.18 | 2.49% | -10.47% | -3.89% | — |
Compare VHC vs Peers
VirnetX Holding Corp (VHC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
VHC SEC Filings & Documents
VirnetX Holding Corp (VHC) SEC filings — annual & quarterly reports (10-K, 10-Q)
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VHC Frequently Asked Questions
VirnetX Holding Corp (VHC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is VirnetX Holding Corp's revenue?
VirnetX Holding Corp (VHC) reported $0.2M in revenue for fiscal year 2025. This represents a 94% decrease from $2.5M in 1998.
How fast is VirnetX Holding Corp growing?
VirnetX Holding Corp (VHC) grew revenue by 3140.0% over the past year. This is strong growth.
Is VHC profitable?
VirnetX Holding Corp (VHC) reported a net loss of $18.9M for fiscal year 2025.
Dividend & Returns
What is VHC's return on equity?
VirnetX Holding Corp (VHC) has a return on equity (ROE) of -58.7%. Negative ROE indicates the company is unprofitable.
What is VirnetX Holding Corp's free cash flow?
VirnetX Holding Corp (VHC) had negative free cash flow of $16.1M in fiscal year 2025, likely due to heavy capital investments.