A Business at a Glance
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The Company We are an Internet security software and technology company with patented technology for Zero Trust Network Access (“ZTNA”) based secure network communications. VirnetX’s software and technology solutions, including its Secure Domain Name Registry and Technology, VirnetX One™, War Room™, and VirnetX Matrix™ are designed to be device and location-independent, and enable a secure real-time communication environment for all types of enterprise applications, services, and critical infrastructures. Our technology generates secure connections on a “single-click” basis, significantly simplifying the deployment of secure real-time communication solutions by eliminating the need for end-users to enter any encryption information. Our product portfolio includes sophisticated technologies, products and services that are available for sale worldwide.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - | 303M |
| Net Income | -18M | -18M | -28M | -36M | -43M | 280M |
| EPS | $-4.90 | $-5.05 | $-7.79 | $-10.17 | $-12.00 | $78.40 |
| Free Cash Flow | 0 | -15M | -25M | -17M | -52M | 281M |
| ROIC | -125.4% | -45.9% | -49.8% | - | - | - |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.25 | 0.08 | - | - | - |
| Dividends/Share | $0.00 | - | $19.96 | - | - | $19.81 |
| Operating Income | -19M | -20M | -31M | -22M | -49M | 158M |
| Operating Margin | 0.0% | - | - | - | - | 52.2% |
| ROE | -61.0% | -38.0% | -49.8% | - | - | - |
| Shares Outstanding | 4M | 4M | 4M | 4M | 4M | 4M |
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | N/A | N/A | N/A | 303M | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -17M | -25M | -20M | 158M | -49M | -22M | -31M | -20M | -19M |
| Op. Margin | N/A | N/A | N/A | 52.2% | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | -17M | -25M | -19M | 280M | -43M | -36M | -28M | -18M | -18M |
| Net Margin | N/A | N/A | N/A | 92.7% | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||
| ROIC | N/M | N/M | N/M | N/A | N/A | N/A | -49.8% | -45.9% | -125.4% |
| ROE | -1112.6% | -256.9% | -340.8% | N/A | N/A | N/A | -49.8% | -38.0% | -61.0% |
| ROA | -240.8% | -216.2% | -255.8% | 119.4% | -23.0% | -23.7% | -46.1% | -33.0% | -47.0% |
| Cash Flow | |||||||||
| Op. Cash Flow | -15M | -22M | -15M | 281M | -52M | -17M | -25M | -15M | -15M |
| Free Cash Flow | -15M | -22M | -15M | 281M | -52M | -17M | -25M | -15M | 0 |
| Owner Earnings | -15M | -22M | -15M | 281M | -52M | -17M | -25M | -15M | -15M |
| CapEx | 0 | 0 | 14K | 0 | 11K | 0 | 65K | 22K | 0 |
| Maint. CapEx | 26K | 18K | 7K | 5K | 4K | 7K | 9K | 21K | 21K |
| Growth CapEx | N/A | N/A | 7K | N/A | 7K | N/A | 56K | 1K | 0 |
| D&A | 26K | 18K | 7K | 5K | 4K | 7K | 9K | 21K | 21K |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 71M | 0 | 0 | 71M | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | 56.5% | N/A | N/A | 232.6% | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 42K | 43K | 145K | 356K | 196K | 29K | 11K | 129K | 129K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -17M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 17M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 3.62 | 0.19 | 0.33 | N/A | N/A | N/A | 0.08 | 0.25 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 1.6M | 9.9M | 5.6M | N/A | N/A | N/A | 56M | 40M | 29M |
| Total Assets | 7.2M | 12M | 7.5M | 235M | 187M | 153M | 60M | 50M | 38M |
| Total Liabilities | 5.6M | 1.9M | 1.9M | N/A | N/A | N/A | 4.4M | 10.0M | 8.7M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -176M | -198M | -218M | -8.0M | -51M | -87M | -186M | -205M | -205M |
| Working Capital | 697K | 8.3M | 3.9M | 214M | 168M | 152M | 53M | 31M | 31M |
| Current Assets | 5.2M | 10M | 5.8M | 224M | 169M | 152M | 54M | 38M | 38M |
| Current Liabilities | 4.5M | 1.9M | 1.8M | 10M | 1.0M | 731K | 1.3M | 7.2M | 7.2M |
| Per Share Data | |||||||||
| EPS | -6.00 | -8.00 | -5.60 | 78.40 | -12.00 | -10.17 | -7.79 | -5.05 | -4.90 |
| Owner EPS | -5.21 | -7.04 | -4.45 | 78.57 | -14.52 | -4.75 | -6.93 | -4.30 | -3.63 |
| Book Value | 0.54 | 3.11 | 1.64 | N/A | N/A | N/A | 15.66 | 11.01 | 6.86 |
| Cash Flow/Share | -5.19 | -7.02 | -4.40 | 78.67 | -14.46 | -4.74 | -6.92 | -4.26 | -4.18 |
| Dividends/Share | N/A | N/A | N/A | 19.81 | N/A | N/A | 19.96 | N/A | 0.00 |
| Shares Out. | 2.9M | 3.2M | 3.4M | 3.6M | 3.6M | 3.6M | 3.6M | 3.6M | 4.3M |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | N/A | 0.5 | N/A | N/A | N/A | N/A | -3.0 |
| P/FCF | N/A | N/A | N/A | 0.5 | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 41.4 | 4.7 | 13.8 | N/A | N/A | N/A | 0.5 | 0.5 | 2.1 |
| Price/Sales | N/A | N/A | N/A | 0.4 | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | -23.3% | -48.2% | -19.5% | 219.8% | -77.7% | -60.2% | -93.2% | -81.2% | N/A |
| Market Cap | 64M | 46M | 77M | 128M | 67M | 28M | 27M | 19M | 62M |
| Avg. Price | 21.51 | 20.31 | 32.83 | 35.08 | 31.75 | 10.88 | 8.58 | 5.98 | 14.55 |
| Year-End Price | 22.30 | 14.55 | 22.60 | 35.78 | 18.61 | 7.87 | 7.45 | 5.25 | 14.55 |
VirnetX Holding Corp passes 0 of 9 quality checks, indicating weak fundamentals.
At current prices, the estimated annualized return to fair value is +7.7%.
VirnetX Holding Corp (VHC) has a 5-year average return on invested capital (ROIC) of -47.8%. This is below average and may indicate limited pricing power.
VirnetX Holding Corp (VHC) has a market capitalization of $62M. It is classified as a small-cap stock.
VirnetX Holding Corp (VHC) does not currently pay a regular dividend.
VirnetX Holding Corp (VHC) operates in the Patent Owners & Lessors industry, within the Financials sector.
VirnetX Holding Corp (VHC) generated $-15 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
VirnetX Holding Corp (VHC) has a debt-to-equity ratio of 0.25. This indicates a conservatively financed balance sheet.
VirnetX Holding Corp (VHC) reported earnings per share (EPS) of $-5.05 in its most recent fiscal year.
VirnetX Holding Corp (VHC) has a return on equity (ROE) of -38.0%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 8 years of financial data for VirnetX Holding Corp (VHC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
VirnetX Holding Corp (VHC) has a book value per share of $11.01, based on its most recent annual SEC filing.
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