VOLITIONRX LTD

Listed Company

VNRXCIK 0000093314NYSENon-AcceleratedSmaller ReportingIn Vitro & In Vivo Diagnostic SubstancesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.73M

Net Income

$-23.36M

Total Assets

—

Equity

—

Shares Out

8.33M

Op. Cash Flow

$-19.68M

Business

VolitionRx Ltd develops epigenetics-based blood tests for the early detection and monitoring of cancer and NETosis-related diseases. It offers the Nu.Q® platform (Nu.Q® Vet, Nu.Q® NETs, Nu.Q® Discover, Nu.Q® Cancer) and Capture‑PCR™/Capture‑Seq™ assays to profile nucleosomes, isolate tumor-derived ctDNA, and provide diagnostic and research tools. Key business segments comprise veterinary and human diagnostic assays, research services, manufacturing of assay components, and IP licensing and distribution. The company sells and licenses products through distributors, reference laboratories, central labs and point-of-care channels across North America, Europe and Asia.

Summary from filing dated 2025-03-31

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
Service	450,805	228,138	—	—	—
Product	1	1	—	—	—
Total Revenues	2	1	775,302	306,392	90,035
Research and development	10	14	20	15	13
General and administrative	9	8	10	10	12
Sales and marketing	4	5	7	7	4
Total Operating Expenses	23	28	37	32	28
Operating Loss	−22	−27	−36	−32	−28
Grant income	516,515	103,368	214,451	1	2
Gain /( Loss) on disposal of fixed assets	1,829	−34,731	−15,843	0	—
Interest income	600	9,947	93,324	125,265	2,734
Interest expense	−532,192	−340,362	−221,622	−173,087	−155,803
Amortization of debt discount	−2	0	—	—	—
Gain on change in fair value of warrant liability	76,908	28,763	—	—	—
Gain on change in fair value of derivative liability	128,729	0	240,311	0	—
Total Other Income (Expenses)	−2	−233,015	310,621	—	—
Net Loss	−24	−27	—	—	—
Net Loss attributable to Non-Controlling Interest	146,302	290,149	—	329,676	175,116
Net Loss attributable to VolitionRx Limited Stockholders	−23	−27	−36	−31	−27
Foreign currency translation adjustments	−680,702	141,691	—	—	—
Net Comprehensive Loss	−24	−27	−36	−31	—
Loss Per Common Share Attributable to Common Stockholders - Basic and Diluted	−0.22	−0.31	—	—	−0.51
Weighted Average Number of Shares Outstanding, Diluted	107	87	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	1	3	21	11	—
Accounts receivable, net	317,808	110,574	242,617	72,609	12,510
Prepaid expenses	433,680	338,660	521,370	784,920	598,367
Other current assets	192,409	343,145	360,125	447,566	786,642
Total Current Assets	2	4	22	12	22
Property and equipment, net	4	4	6	5	5
Operating lease right-of-use assets	495,749	599,816	549,504	619,392	383,551
Intangible assets, net	316,704	313,747	23,886	110,505	216,876
Total Assets	7	9	28	18	27
Accounts payable	3	3	3	3	2
Accrued liabilities	4	3	4	3	4
Deferred revenue	353,846	230,000	106,600	10	12,512
Management and directors' fees payable	80,939	30,086	59,625	71,119	71,303
Current portion of long-term debt	890,571	860,223	1	1	797,855
Current portion of financing lease liabilities	54,377	46,737	48,570	46,014	48,958
Current portion of operating lease liabilities	250,336	221,755	199,323	245,163	171,166
Current portion of grants repayable	117,093	60,979	55,855	41,836	—
Warrant liability	20,978	97,886	—	—	—
Derivative liability	913,742	0	—	—	—
Current portion of convertible note payable, net	2	0	—	—	—
Total Current Liabilities	12	8	9	17	7
Long-term debt, net of current portion	6	4	4	3	2
Deferred revenue, net of current portion	22	23	—	—	—
Finance lease liabilities, net of current portion	317,859	328,338	400,022	436,132	511,086
Operating lease liabilities, net of current portion	276,558	410,686	378,054	400,091	217,305
Grants repayable, net of current portion	473,652	361,242	422,707	—	—
Convertible note payable, net of current portion	1	0	—	—	—
Total Liabilities	42	36	37	21	10
Common stock Authorized: 325,000,000 shares of common stock, at $0.001 par value Issued and outstanding: 125,779,769 shares and 96,097,485 shares, respectively	125,780	96,098	81,898	57,873	53,772
Additional paid-in capital	219	204	194	164	155
Accumulated other comprehensive income	−295,071	385,631	243,940	227,097	148,326
Accumulated deficit	−253	−230	−203	−167	−137
Total VolitionRx Limited Stockholders' Deficit	−34	−25	−8	−3	18
Non-controlling interest	−1	−1	−909,967	−551,971	—
Total Stockholders' Deficit	−36	−26	−9	−3	18
Total Liabilities and Stockholders' Deficit	7	9	28	18	27

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 and amortization	983,706	1	1	936,084	945,367
Amortization of operating lease right-of-use assets	232,695	225,748	260,743	253,864	199,793
Amortization of debt discount	2	0	—	—	—
Stock based compensation	2	1	2	3	2
Gain on change in derivative liability	−128,729	0	—	—	—
Gain on change in fair value of warrant liability	−76,908	−28,763	—	—	—
Accounts receivable	−207,234	132,045	−169,666	−72,609	−12,510
Prepaid expenses	−95,020	182,710	263,550	433,995	−295,189
Other current assets	150,736	16,980	87,441	351,514	−202,801
Accounts payable and accrued liabilities	77,977	−1	1	548,611	522,220
Deferred revenue	−601,092	−106,600	13	10	12,512
Management and directors' fees payable	50,853	0	—	—	—
Operating lease liabilities	−262,018	−257,204	−258,853	−232,695	—
Net Cash Used In Operating Activities	−20	−26	−18	−15	−21
Purchases of property and equipment	−89,558	−277,499	−1	−2	−973,559
Purchase of license	0	−296,353	—	—	—
Net Cash Used In Investing Activities	−89,558	−573,852	−1	−2	−973,559
Net proceeds from issuance of common shares	11	9	28	7	23
Tax withholdings paid related to stock-based compensation	−210,034	−139,939	−203,878	−180,472	−130,426
Proceeds from grants repayable	111,043	0	—	—	—
Proceeds from long-term debt	2	1	2	2	—
Net proceeds from issuance of convertible note and warrants	6	0	—	—	—
Payments on long-term debt	−877,550	−1	−981,291	−1	—
Payments on convertible loan note	−833,334	0	—	—	—
Payments on grants repayable	0	−28,213	−22,096	−45,664	−47,789
Payments on financing leases	−50,634	−47,723	−46,506	—	—
Net Cash Provided By Financing Activities	17	9	29	7	23
Effect of foreign exchange on cash and cash equivalents	532,633	344,668	26,996	195,629	106,502
Net Change in Cash and Cash Equivalents	−2	−17	10	−10	1
Cash paid for Interest	280,718	340,362	221,622	173,110	155,803
Common stock issued for settlement of vested RSUs	2,091	731	—	—	—
Fair value of derivative liability recognized upon issuance of convertible note	1	0	—	—	—
Issuance of warrants in connection with convertible note offering	2	0	—	—	—
Debt issuance cost recognized upon issuance of convertible note	2	0	—	—	—
Common stock issued for license rights	0	125,258	—	—	—
Offering costs from issuance of common stock	605,514	325,090	392,822	—	—
Non-cash note payable	292,470	294,603	356,258	—	—

Filings

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