VirnetX Holding $VHC Read from its own SEC filings · nothing written, nothing inferred
🫧 Edgar looked up VirnetX Holding Corporation ($VHC). Last filing: 8-K (1.01 Entry into a Material Definitive Agreement), 2026-10-01. 3 event filings (8-K) in the past twelve months.
🔖 Exposure: revenue $162K (FY2025). Experience: revenue up 3140.0% on the year, up 46.7% a year over 4 years; operating margin -12000.0%, up from -407940.0%. Soundness: equity 72.4% of assets, return on equity -81.1%, the dividend per share fell in the latest year on record. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $1.4M and $5.3M next year (method v4.1: its own 2-year record of growth weighed at 25% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $1.2M to $5.9M. A statistical range, not company guidance. Against peers (87 filers, $50M+ revenue, its industry group): operating margin -12000.0% against a 25.6% median; growth 3140.0% against 4.1%.
Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.
Cash
| Cash flow (op · inv · fin · free) | −$16M · $9M · −$1M · −$16M |
| Investment book (cash · short · long) | $16M · $6M · — · current ratio 10.70 |
The figures, as filed
| Fiscal year end | 2025-12-31 |
| Revenue | $0M |
| Revenue, on the year | 3140.0% |
| Revenue, a year over the record | 46.7% |
| Operating margin | −12000.0% |
| Operating margin, prior year | −407940.0% |
| Net margin | −11250.0% |
| Research and development | $6M · 3490.1% of revenue |
| Total debt | — |
| Equity of assets | 72.4% |
| Return on equity | −81.1% |
| Payout of profit | — |
| Dividend per share | $0 · cut in the latest year |
| Earnings per share | $-5 |
| Book value per share | $6162.33 |
| Revenue per share | $44.42 |
| Shares outstanding | 3,647 |
| Audited years read | 5 |
Peers: the median of 87 filers with $50M+ revenue in patent owners & lessors.
Health HarborVirnetX Holding sails as: Weathered boat
Health watch · 12 monthsDirector or officer change
No growth figure to set the speed.
🌊 Visit the Bay →- operating cash flow was negative (-$15.6M in FY2025)
- revenue is hard to predict: its 80% range is ±59%
Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.
- 8-K · 2026-10-01 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits
- 10-Q · 2026-08-14
- 8-K · 2026-06-16 · 5.02 Departure or Election of Directors; Appointment of Officers; 5.07 Submission of Matters to a Vote of Security Holders; 9.01 Financial Statements and Exhibits
- 10-Q · 2026-05-15
- DEF 14A · 2026-04-24
- 10-K · 2026-03-24
Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company