Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.55M | $1.55M | $63.0K | $85.0K | $303M | $35.0K | $48.0K | $7.00K | $5.00K | $162K |
| Revenue growth | — | -0.2% | -95.9% | 34.9% | 355942.4% | -100.0% | 37.1% | -85.4% | -28.6% | 3140.0% |
| Operating income | -$28.5M | -$17.3M | -$25.5M | -$19.7M | $158M | -$49.2M | -$22.1M | -$31.4M | -$20.4M | -$19.4M |
| Operating margin | -1839.0% | -1119.7% | -40407.9% | -23135.3% | 52.2% | -140497.1% | -45991.7% | -449214.3% | -407940.0% | -12000.0% |
| Net income | -$28.6M | -$17.3M | -$25.4M | -$19.2M | $280M | -$42.9M | -$36.3M | -$27.9M | -$18.2M | -$18.2M |
| Net margin | -1843.2% | -1116.9% | -40327.0% | -22564.7% | 92.7% | -122631.4% | -75541.7% | -398157.1% | -363500.0% | -11250.0% |
| EPS (diluted) | -$0.51 | -$0.30 | -$0.40 | -$0.28 | $3.92 | -$0.60 | -$10.17 | -$7.79 | -$5.05 | -$5.00 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$21.9M | -$14.9M | -$22.3M | -$15.1M | $281M | -$51.7M | -$16.9M | -$24.8M | -$15.3M | -$15.6M |
| Capital expenditures | $13.0K | $0.00 | $0.00 | $14.0K | $0.00 | $11.0K | $0.00 | $65.0K | $22.0K | $17.0K |
| Free cash flow | -$21.9M | -$14.9M | -$22.3M | -$15.1M | $281M | -$51.7M | -$16.9M | -$24.8M | -$15.3M | -$15.7M |
| Dividends paid | — | — | — | $0.00 | $70.8M | $0.00 | $0.00 | $71.4M | $0.00 | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $6.63M | $3.13M | $7.61M | $3.13M | $193M | $142M | $86.6M | $26.3M | $23.3M | $15.5M |
| Total assets | $18.9M | $7.17M | $11.8M | $7.50M | $235M | $187M | $153M | $60.4M | $49.6M | $31.1M |
| Total liabilities | $7.72M | $5.62M | $1.86M | $1.87M | $10.4M | $1.07M | $731K | $4.40M | $9.99M | $8.59M |
| Shareholders' equity | $11.1M | $1.55M | $9.89M | $5.63M | $224M | $185M | $152M | $56.0M | $39.6M | $22.5M |
| Retained earnings | -$158M | -$176M | -$198M | -$218M | -$8.01M | -$50.9M | -$87.2M | -$186M | -$205M | -$223M |
| Shares (wtd avg diluted) | 58.1M | 59.1M | 66.9M | 68.6M | 71.6M | 71.2M | 3.56B | 3.58B | 3.60B | 3.65B |
Every figure is extracted from VirnetX Holding Corp’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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