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The Company VirnetX Holding Corporation ( Company , we , us , or our ) is an Internet security software and technology company with patented cybersecurity solutions that are designed to ensure resilient, secure communications across any network or device. Our flagship platform, VirnetX One , is built on Zero Trust Network Access (ZTNA) principles and extends our patented Secure Domain Name Syst…
The business is unprofitable at the operating level (-12000.00% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 3140.0% YoY with margins expanding 395940.0pp.
ROIC dropped from -33.70% to -49.46%, capital efficiency is deteriorating. Negative free cash flow of -$16M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$162K
▲ +3140.0% YoY
Net Income (TTM)
-$19M
▼ -0.3% YoY
Op. Margin
-12284.57%
▲ +395940.0pp YoY
ROIC
-49.54%
▼ -15.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$16M
▼ -2.0% YoY
Op. Cash Flow (TTM)
-$16M
▼ -2.1% YoY
Net Debt
-$10M
Net Cash Position
Cash & Equiv.
$17M
5Y CAGR: -77.8%
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