VirnetX Holding Corp
VHC · Patent Owners & Lessors · 4.2M shares · -52%/yr ↓ buyback · EDGAR filings ↗
Reference price $22.70 · est. market cap ~$95M — last insider sale, 2025-11-26 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D42VirnetX — patent-licensing/litigation firm near cash depletion.
Strengths
- Cash-rich relative to size (current 10.7)
Risks
- Deep operating losses; cash runway ~5.5 quarters
- Revenue entirely litigation-outcome-dependent
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -11250.0%)
- Cash burnNegative free cash flow (-15.7M)
- Buying back stockNet buyback — share count -52%/yr over 4y
- Revenue declineRevenue -100.0% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-12000.0%
Net margin
-11250.0%
Return on equity
-81.1%
Return on assets
-58.7%
Revenue growth (QoQ)
-100.0%
Current ratio
10.7×
Free cash flow
-$16M
Tangible book value
$22M
Cash & investments
$22M
Cash runway
6q
Stock comp / revenue
1216.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-11 | O'BRIEN THOMAS M | Grant | 7.5K | — |
| 2026-06-11 | Chow Heidy Kingwan | Grant | 7.5K | — |
| 2026-06-11 | Feiner Gary | Grant | 7.5K | — |
| 2026-06-11 | Angelo Michael F | Grant | 7.5K | — |
| 2025-12-03 | O'BRIEN THOMAS M | Option exercise | 625 | $10.10 |
| 2025-11-26 | Feiner Gary | Sell | 1.9K | $22.70 |
| 2025-11-24 | Angelo Michael F | Sell | 625 | $20.89 |
| 2025-07-07 | Allanson Katherine | Tax withheld | 102 | $12.34 |
| 2025-07-07 | Short Robert D III | Tax withheld | 50 | $12.34 |
| 2025-06-23 | Short Robert D III | Tax withheld | 8 | $8.06 |
| 2025-06-12 | Chow Heidy Kingwan | Grant | 7.5K | — |
| 2025-06-12 | O'BRIEN THOMAS M | Grant | 7.5K | — |
| 2025-06-12 | Feiner Gary | Grant | 7.5K | — |
| 2025-06-12 | Angelo Michael F | Grant | 7.5K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (2)
- Leidos, Inc.
- OmniTeq (L2 Holdings, LLC)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-16 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2025-10-17 | Reg FDExhibits | filing ↗ |
| 2025-09-11 | Delisting noticeReg FDExhibits | filing ↗ |
| 2025-06-17 | Shareholder vote | filing ↗ |
| 2024-09-04 | Delisting noticeReg FDExhibits | filing ↗ |
| 2024-06-18 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2023-12-06 | Exec/director changeExhibits | filing ↗ |
| 2023-10-25 | 3.035.03Shareholder voteExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-16 | 2026-06-11 | 0001140361-26-025419 ↗ |
| 10-Q | 2026-05-15 | 2026-03-31 | 0001140361-26-021650 ↗ |
| 10-K | 2026-03-24 | 2025-12-31 | 0001140361-26-010895 ↗ |
| 10-Q | 2025-11-14 | 2025-09-30 | 0001140361-25-042294 ↗ |
| 8-K | 2025-10-17 | 2025-10-16 | 0001140361-25-038341 ↗ |
| 8-K | 2025-09-11 | 2025-09-11 | 0001140361-25-034625 ↗ |
| 10-Q | 2025-08-12 | 2025-06-30 | 0001140361-25-030577 ↗ |
| 8-K | 2025-06-17 | 2025-06-12 | 0001140361-25-022827 ↗ |
| 10-Q | 2025-05-14 | 2025-03-31 | 0001140361-25-018930 ↗ |
| 10-K | 2025-03-17 | 2024-12-31 | 0001140361-25-009024 ↗ |
| 10-Q | 2024-11-13 | 2024-09-30 | 0001140361-24-046446 ↗ |
| 8-K | 2024-09-04 | 2024-08-28 | 0001140361-24-040072 ↗ |