VirnetX Holding Corp

Listed Company

VHCCIK 0001082324NasdaqNon-AcceleratedSmaller ReportingPatent Owners & LessorsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$162.0K

Net Income

$-18.23M

Total Assets

$31.06M

Equity

$22.47M

Shares Out

4.19M

Op. Cash Flow

$-15.64M

Business

VirnetX Holding Corp is an Internet security software and technology company that develops patented Zero Trust Network Access (ZTNA) solutions for secure real-time communications. Its main products and services include the VirnetX One security-as-a-service platform, Secure Domain Name Registry and Technology, War Room secure video conferencing, VirnetX Matrix zero-trust access, and technology licensing and integration services. Key business activities comprise software product sales, technology licensing to OEMs and service providers, and partner/reseller relationships for government, defense, and enterprise customers. The company markets and distributes its offerings worldwide through direct sales, government engagements, channel partners, resellers, and strategic distributors (including arrangements in Japan and broader Asia).

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	162,000	5,000	7,000	48,000	35,000
Research and development	6	6	10	6	6
Selling, general and administrative expenses	13	14	22	16	53
Impairment loss on investment	500,000	0	—	—	—
Total operating expense	20	20	31	22	49
(Loss) from operations	−19	−20	−31	−22	−49
Interest and other income, net	1	2	3	2	48,000
(Loss) before taxes	−18	−18	−28	−20	−49
Income tax (provision) benefit	2,000	−3,000	79,000	−16	6
Net (loss)	−18	−18	−28	−36	−43
Basic (loss) per share (in Dollars per share)	−5	−5.05	−7.79	−10.17	−0.6
Diluted (loss) per share (in Dollars per share)	−5	−5.05	−7.79	−10.17	−0.6
Weighted average shares outstanding basic (in Shares)	3,647	3,596	3,579	3,565	71
Weighted average shares outstanding diluted (in Shares)	3,647	3,596	3,579	3,565	71

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	16	23	26	87	142
Investments available for sale	6	15	27	65	27
Accounts receivables	19,000	0	2,000	14,000	17,000
Prepaid expenses and other current assets	120,000	122,000	282,000	224,000	203,000
Total current assets	22	38	54	152	169
Prepaid expenses and other assets	7	9	4	703,000	1
Property and equipment, net	61,000	67,000	67,000	11,000	18,000
Other investments	2	3	3	0	—
Total assets	31	50	60	153	187
Accounts payable and accrued liabilities	388,000	336,000	440,000	373,000	338,000
Accrued payroll and related expenses	255,000	257,000	316,000	311,000	270,000
Other liabilities, current	1	7	498,000	47,000	58,000
Total current liabilities	2	7	1	731,000	1
Other liabilities	7	3	3	0	46,000
Total liabilities	9	10	4	731,000	1
Commitments and contingencies (Note 4)	—	—	—	—	—
Preferred stock, par value $0.0001 per share Authorized: 10,000,000 shares at December 31, 2025 and December 31, 2024, Issued and outstanding: 0 shares at December 31, 2025 and December 31, 2024	0	0	0	0	0
Common stock, par value $0.0001 per share Authorized: 100,000,000 shares at December 31, 2025 and December 31, 2024, Issued and outstanding: 4,201,948 and 4,238,581 shares, at December 31, 2025 and December 31, 2024, respectively	0	0	0	0	7,000
Additional paid-in capital	245	244	243	240	236
Accumulated deficit	−223	−205	−186	−87	−51
Accumulated other comprehensive loss	−21,000	0	−12,000	−314,000	−68,000
Total stockholders equity	22	40	56	152	185
Total liabilities and stockholders equity	31	50	60	153	187

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	23,000	21,000	9,000	7,000	4,000
Stock-based compensation	2	2	3	3	4
Bad debt	0	1,000	15,000	0	—
Prepaid expenses and other current assets	1	848,000	−3	331,000	271,000
Accounts payable and accrued liabilities	52,000	−104,000	67,000	35,000	−316,000
Other liabilities	−951,000	238,000	4	−54,000	60,000
Accrued payroll and related expenses	−2,000	−59,000	5,000	41,000	50,000
Accounts receivable	−19,000	1,000	−3,000	3,000	−9,000
Net cash used in operating activities	−16	−15	−25	−17	−52
Purchase of property and equipment	−17,000	−22,000	−65,000	0	−11,000
Purchase of investments	−16	−29	−47	−67	−26
Proceeds from sale or maturity of investments	25	41	86	29	27
Net cash provided by investing activities	9	12	36	−39	1
Proceeds from exercise of options	6,000	0	—	0	0
Withholding taxes paid on cashless exercise of restricted stock and restricted stock units	−879,000	−129,000	−11,000	−29,000	−196,000
Net cash used in financing activities	−873,000	−129,000	−71	−29,000	−196,000
Net (decrease) in cash and cash equivalents	−8	−3	−60	−55	−51
Cash paid for income taxes	1,000	3,000	0	2,000	2,000
ROU asset and lease liability	497,000	6	4	—	—

Filings

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