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VirnetX Holding Corp Balance Sheet 2025-2008 | VHC
Brief balance sheet overview of VirnetX Holding Corp
Balance sheet changes are traced across five available annual reports between 2021 and 2025.
The asset base decreased -83.3%, from $186.5 million to $31.1 million. Resources became smaller over the five periods.
Liabilities grew faster than assets: +704.9% versus -83.3%. A substantial part of expansion was externally funded.
The equity-to-assets ratio is 72.4%, compared with 99.4% five periods ago. The balance sheet has a substantial internal cushion.
Cash accounts for 50.1% of assets versus 76.1% initially. The change indicates the degree of financial flexibility.
The balance sheet carries negative retained earnings of -$222.9 million. The figure may result from accumulated losses or an active capital return policy.
What the balance sheet shows
VirnetX Holding Corp's financial structure calls for caution. Stronger equity, lower debt or restored liquidity would be needed to improve it.
Annual Balance Sheet VirnetX Holding Corp
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
- | - | - | - | - | - | -3.14 M | -7.61 M | -3.14 M | -6.63 M | -8.73 M | -18.7 M | -19.2 M | -19.7 M | -49.5 M | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 44 K | - | 1.14 M | 2.5 M | 1.5 M | 500 K | - | - | - | - | - | - |
Total Current Liabilities |
2.02 M | 7.2 M | 1.25 M | 731 K | 1.02 M | 10.4 M | 1.83 M | 1.86 M | 4.48 M | 5.22 M | 5.58 M | 12 M | 5.37 M | 7.37 M | 6.36 M | 22.2 M | - | - |
Total Liabilities |
8.59 M | 9.99 M | 4.4 M | 731 K | 1.07 M | 10.4 M | 1.87 M | 1.86 M | 5.62 M | 7.72 M | 7.08 M | 12.5 M | 5.37 M | 7.37 M | 6.36 M | - | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | - | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 667 K | - | - | - | - | - |
Retained Earnings |
-223 M | -205 M | -186 M | -87.2 M | -50.9 M | -8.01 M | -218 M | -198 M | -176 M | -158 M | -130 M | -100 M | -90.5 M | -62.9 M | -36 M | -17.8 M | - | - |
Total Assets |
31.1 M | 49.6 M | 60.4 M | 153 M | 187 M | 235 M | 7.5 M | 11.8 M | 7.18 M | 18.9 M | 22.2 M | 45.1 M | 39.4 M | 61.3 M | 74.6 M | 81.7 M | - | - |
Cash and Cash Equivalents |
15.5 M | 23.3 M | 26.3 M | 86.6 M | 142 M | 193 M | 3.14 M | 7.61 M | 3.14 M | 6.63 M | 8.73 M | 18.7 M | 19.2 M | 19.7 M | 49.5 M | 34.6 M | 2.01 M | 457 K |
Book Value |
22.5 M | 39.6 M | 56 M | 152 M | 185 M | 224 M | 5.63 M | 9.89 M | 1.55 M | 11.1 M | 15.1 M | 32.6 M | 34 M | 53.9 M | 68.3 M | 81.7 M | - | - |
Total Shareholders Equity |
22.5 M | 39.6 M | 56 M | 152 M | 185 M | 224 M | 5.63 M | 9.89 M | 1.55 M | 11.1 M | 15.1 M | 32.6 M | 34 M | 53.9 M | 68.3 M | 59.5 M | -8.71 M | -895 K |
All numbers in USD currency
Quarterly Balance Sheet VirnetX Holding Corp
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Liabilities |
7.84 M | 8.69 M | 8.65 M | 8.75 M | 9.99 M | 10.1 M | 10.1 M | 10.1 M | 4.4 M | 1.6 M | 813 K | 73.5 M | 731 K | 1.9 M | 756 K | 1.07 M | 1.07 M | - | - | - | 10.4 M | 27.8 M | 49.7 M | 137 M | 1.87 M | 1.87 M | 1.87 M | 1.87 M | 1.86 M | 1.18 M | 3.72 M | 1.86 M | 5.62 M | 5.62 M | 5.62 M | 5.62 M | 7.72 M | 7.72 M | 7.72 M | 7.72 M | 7.08 M | 6.18 M | 10.4 M | 9.43 M | 12.5 M | - | 12.5 M | 12.5 M | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2 K | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 1.5 M | 667 K | 667 K | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-227 M | -216 M | -212 M | -208 M | -205 M | -198 M | -195 M | -191 M | -186 M | -179 M | -174 M | -163 M | -87.2 M | -63 M | -58.7 M | -54.3 M | -50.9 M | -41.3 M | -38 M | -34.5 M | -8.01 M | -8.01 M | -8.01 M | -8.01 M | -218 M | -218 M | -218 M | -218 M | -198 M | -198 M | -198 M | -198 M | -176 M | -176 M | -176 M | -176 M | -158 M | -158 M | -158 M | -158 M | -130 M | -130 M | -130 M | -130 M | -100 M | -100 M | -100 M | -100 M | -90.5 M | -90.5 M | -90.5 M | -90.5 M | -62.9 M | -62.9 M | -62.9 M | -62.9 M | -36 M | -36 M | -36 M | -36 M |
Total Assets |
26.7 M | 38 M | 41.8 M | 45.1 M | 49.6 M | 55.6 M | 58.9 M | 62.3 M | 60.4 M | 63.9 M | 67.2 M | 151 M | 153 M | 177 M | 180 M | 184 M | 187 M | 195 M | 197 M | 238 M | 235 M | 235 M | 235 M | 235 M | 7.5 M | 7.5 M | 7.5 M | 7.5 M | 11.8 M | 11.8 M | 11.8 M | 11.8 M | 7.18 M | 7.18 M | 7.18 M | 7.18 M | 18.9 M | 18.9 M | 18.9 M | 18.9 M | 22.2 M | 22.2 M | 22.2 M | 22.2 M | 45.1 M | 45.1 M | 45.1 M | 45.1 M | 39.4 M | 39.4 M | 39.4 M | 39.4 M | 61.3 M | 61.3 M | 61.3 M | 61.3 M | 74.6 M | 74.6 M | 74.6 M | 74.6 M |
Cash and Cash Equivalents |
14.8 M | 17.1 M | 17.3 M | 23.2 M | 23.3 M | 25.1 M | 26.3 M | 27.6 M | 26.3 M | 27.8 M | 26 M | 97 M | 86.6 M | 106 M | 127 M | 136 M | 142 M | 148 M | 154 M | 197 M | 193 M | 193 M | 193 M | 193 M | 3.14 M | 3.14 M | 3.14 M | 3.14 M | 7.61 M | 7.61 M | 7.61 M | 7.61 M | 3.14 M | 3.14 M | 3.14 M | 3.14 M | 6.63 M | 6.63 M | 6.63 M | 6.63 M | 8.73 M | 8.73 M | 8.73 M | 8.73 M | 18.7 M | 18.7 M | 18.7 M | 18.7 M | 19.2 M | 19.2 M | 19.2 M | 19.2 M | 19.7 M | 19.7 M | 19.7 M | 19.7 M | 49.5 M | 49.5 M | 49.5 M | 49.5 M |
Book Value |
18.9 M | 29.3 M | 33.2 M | 36.4 M | 39.6 M | 45.5 M | 48.8 M | 52.2 M | 56 M | 62.3 M | 66.4 M | 77.1 M | 152 M | 175 M | 179 M | 183 M | 185 M | 195 M | 197 M | 238 M | 224 M | 207 M | 185 M | 98.3 M | 5.63 M | 5.63 M | 5.63 M | 5.63 M | 9.89 M | 10.6 M | 8.03 M | 9.89 M | 1.55 M | 1.55 M | 1.55 M | 1.55 M | 11.1 M | 11.1 M | 11.1 M | 11.1 M | 15.1 M | 16 M | 11.8 M | 12.7 M | 32.6 M | 45.1 M | 32.6 M | 32.6 M | 39.4 M | 39.4 M | 39.4 M | 39.4 M | 61.3 M | 61.3 M | 61.3 M | 61.3 M | 74.6 M | 74.6 M | 74.6 M | 74.6 M |
Total Shareholders Equity |
18.9 M | 29.3 M | 33.2 M | 36.4 M | 39.6 M | 45.5 M | 48.8 M | 52.2 M | 56 M | 62.3 M | 66.4 M | 77.1 M | 152 M | 175 M | 179 M | 183 M | 185 M | 191 M | 193 M | 199 M | 224 M | 224 M | 224 M | 224 M | 5.63 M | 5.63 M | 5.63 M | 5.63 M | 9.89 M | 9.89 M | 9.89 M | 9.89 M | 1.55 M | 1.55 M | 1.55 M | 1.55 M | 11.1 M | 11.1 M | 11.1 M | 11.1 M | 15.1 M | 15.1 M | 15.1 M | 15.1 M | 32.6 M | 32.6 M | 32.6 M | 32.6 M | 34 M | 34 M | 34 M | 34 M | 53.9 M | 53.9 M | 53.9 M | 53.9 M | 68.3 M | 68.3 M | 68.3 M | 68.3 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of VirnetX Holding Corp, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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