Virnetx Holding Corp
VHCTechnology·Software - Infrastructure·USA·Nano·NASD·Nov 11 • 3:59 PM ET
9.99+0.74 (8.00%)
2026-11-11 23:57 CET
Market cap
38.81 USD m
Revenue, TTM
0.11 USD m
Net income, TTM
-19.81 USD m
Free cash flow, TTM
-16.45 USD m
EPS diluted, TTM
-5.11
P/E
-
Price
VHC against its 20, 50 and 200-day averages2050200earnings
61.3% under the 52-week high of 25.83 on 18 Nov 2025. 52-week low 8.41 on 1 Oct 2026. Last 15 sessions, 32.0% high to low
Volume 0.26× normal · the line is the 50-bar volume average
Profile
VHC52-week range, 9% of the way up
8.4125.83
VirnetX Holding Corp. engages in the provision of Internet security software and technology solutions to facilitate secure network communications, including 5G and 4G LTE. Its products include War Room, Gabriel secure gateway, collaboration suite, secure domains, secure communication platform, and connection technology. The company was founded on August 5, 2005 and is headquartered in Zephyr Cove, NV.
| Employees | 21 |
|---|---|
| IPO | Jul 30, 1999 |
| Beta | 2.34 |
| ATR, 14d | 0.77 |
| Rel volume | 0.26 |
| Short float | 3.85% |
| Insider own | 15.47% |
| Inst own | 13.45% |
Snapshot
6 groupsValuation
| Index | - |
|---|---|
| Market Cap | 41.91M |
| Enterprise Value | 28.02M |
| Income | -19.81M |
| Sales | 0.11M |
| Book/sh | 3.57 |
| Cash/sh | 3.31 |
| Dividend Est. | - |
| Dividend TTM | - |
| Dividend Ex-Date | Apr 18, 2023 |
| Dividend Gr. 3/5Y | - - |
| Payout | - |
| Employees | 21 |
| IPO | Jul 30, 1999 |
Ratios
| P/E | - |
|---|---|
| Forward P/E | - |
| PEG | - |
| P/S | 381.04 |
| P/B | 2.80 |
| P/C | 3.02 |
| P/FCF | - |
| EV/EBITDA | - |
| EV/Sales | 254.77 |
| Quick Ratio | 6.24 |
| Current Ratio | 6.24 |
| Debt/Eq | 0.00 |
| LT Debt/Eq | 0.00 |
| Option/Short | No / Yes |
Earnings
| EPS (ttm) | -5.11 |
|---|---|
| EPS next Y | - |
| EPS next Q | - |
| EPS this Y | - |
| EPS next Y | - |
| EPS next 5Y | - |
| EPS past 3/5Y | 21.08% - |
| Sales past 3/5Y | 50.00% -77.83% |
| EPS Y/Y TTM | -12.66% |
| Sales Y/Y TTM | 128.00% |
| EPS Q/Q | -21.38% |
| Sales Q/Q | -100.00% |
| Earnings | Aug 16 AMC |
| EPS/Sales Surpr. | - - |
Ownership
| Insider Own | 15.47% |
|---|---|
| Insider Trans | -6.28% |
| Inst Own | 13.45% |
| Inst Trans | 2.14% |
| ROA | -61.14% |
| ROE | -82.13% |
| ROIC | -131.50% |
| Gross Margin | 77.19% |
| Oper. Margin | -17639.47% |
| Profit Margin | -17373.68% |
| SMA20 | -0.57% |
| SMA50 | -7.97% |
| SMA200 | -26.26% |
| Trades | - |
Technical
| Shs Outstand | 4.22M |
|---|---|
| Shs Float | 3.55M |
| Short Float | 3.85% |
| Short Ratio | 2.37 |
| Short Interest | 0.14M |
| 52W High | 25.83 -61.32% |
| 52W Low | 8.41 18.79% |
| Volatility | 5.52% 6.88% |
| ATR (14) | 0.77 |
| RSI (14) | 47.26 |
| Beta | 2.34 |
| Rel Volume | 0.26 |
| Avg Volume | 57.55K |
| Volume | 14,803 |
Performance
| Perf Week | 3.52% |
|---|---|
| Perf Month | -8.85% |
| Perf Quarter | -35.51% |
| Perf Half Y | -21.46% |
| Perf YTD | -40.14% |
| Perf Year | -57.20% |
| Perf 3Y | 46.05% |
| Perf 5Y | -65.15% |
| Perf 10Y | -48.42% |
| Recom | 1.00 |
| Target Price | 36.00 |
| Prev Close | 9.25 |
| Price | 9.99 |
| Change % | 8.00% |
Analyst ratings
latest 3 of 3| Date | Action | Analyst | Rating change | Target | Implied |
|---|---|---|---|---|---|
| Sep 18, 2014 | Downgrade | GGilford Securities | Buy → Neutral | ||
| Aug 24, 2012 | Initiated | WWilliam Blair | Outperform | ||
| Dec 02, 2009 | Initiated | DDawson James | Buy | $6 | -39.9% |
Peers
Mkt capInsider trading
latest 14 of 16| Insider | Relationship | Date | Transaction | Cost | Shares | Value | Total held | Form |
|---|---|---|---|---|---|---|---|---|
| Angelo Michael F | Director | Sep 30 '26 | Sale | 10.26 | 1,000 | 10,255 | 28,209 | Oct 02 04:20 PM |
| Angelo Michael F | DIRECTOR | Sep 30 '26 | Proposed Sale | 10.29 | 1,000 | 10,290 | Sep 29 02:47 PM | |
| Larsen Kendall | President & CEO | Sep 10 '26 | Sale | 11.48 | 8,000 | 91,864 | 352,058 | Sep 14 08:26 PM |
| Larsen Kendall | President & CEO | Sep 11 '26 | Sale | 11.37 | 8,000 | 90,984 | 344,058 | Sep 14 08:26 PM |
| Larsen Kendall | President & CEO | Sep 14 '26 | Sale | 11.17 | 4,425 | 49,445 | 339,633 | Sep 14 08:26 PM |
| Larsen Kendall | President & CEO | Aug 31 '26 | Sale | 11.17 | 5,000 | 55,840 | 369,633 | Sep 02 07:41 PM |
| Larsen Kendall | President & CEO | Sep 01 '26 | Sale | 11.00 | 5,000 | 55,005 | 364,633 | Sep 02 07:41 PM |
| Larsen Kendall | President & CEO | Sep 02 '26 | Sale | 11.51 | 4,575 | 52,640 | 360,058 | Sep 02 07:41 PM |
| Feiner Gary | Director | Aug 31 '26 | Sale | 11.17 | 3,750 | 41,896 | 20,624 | Sep 02 04:05 PM |
| Feiner Gary | Director | Sep 01 '26 | Sale | 11.00 | 3,750 | 41,254 | 16,874 | Sep 02 04:05 PM |
| Larsen Kendall | OFFICER | Aug 31 '26 | Proposed Sale | 13.63 | 35,000 | 477,050 | Aug 27 01:43 PM | |
| Gary Feiner | DIRECTOR | Aug 31 '26 | Proposed Sale | 13.63 | 7,500 | 102,225 | Aug 27 12:07 PM | |
| O'BRIEN THOMAS M | Director | Dec 03 '25 | Option Exercise | 10.10 | 625 | 6,315 | 27,957 | Dec 03 06:36 PM |
| Feiner Gary | Director | Nov 26 '25 | Sale | 22.70 | 1,875 | 42,562 | 16,874 | Nov 26 07:32 PM |
Held by
AUM| Ticker | Company | AUM |
|---|---|---|
| VTI | Vanguard Morningstar Total Stock Market ETF | AUM: 687.42B |
| VXF | Vanguard Extended Market Index ETF | AUM: 30.47B |
| IWC | iShares Micro-Cap ETF | AUM: 1.22B |
| DXUV | US Vector Equity Portfolio ETF Class Shares | AUM: 665.71M |
| DFSU | Dimensional US Sustainability Core 1 ETF | AUM: 2.38B |
| DFAC | U.S. Core Equity 2 Portfolio-ETF Class Shares | AUM: 49.14B |
News
latest 14 of 200- VirnetX: Q2 Earnings Snapshot (Associated Press) -9.73%
- VirnetX Receives Facility Security Clearance for Utah Facility (Business Wire) +15.71%
- VirnetX Announces New Infrastructure Intelligence Platform, iSCOUT (Business Wire)
- VirnetX: Q1 Earnings Snapshot (Associated Press) +6.20%
- VirnetX: Q4 Earnings Snapshot (Associated Press Finance)
- VirnetX: Q3 Earnings Snapshot (Associated Press Finance)
- VirnetX Awarded Coveted GSA Schedule Contract (Business Wire) +40.41%
- VirnetX Announces Move to Nasdaq (Business Wire)
- VirnetX Facilities Receive Critical Department of Defense Security Certification (Business Wire) +30.61%
- VirnetX: Q2 Earnings Snapshot (Associated Press Finance)
- VirnetX: Q1 Earnings Snapshot (Associated Press Finance) -6.38%
- VirnetX Announces New Chief Technical Officer (PR Newswire)
- VirnetX To Webcast Company Update With CEO Kendall Larsen (PR Newswire)
- VirnetX: Q3 Earnings Snapshot (Associated Press Finance)
Quarterly earnings
actual against estimate| Period | Reported | EPS act | EPS est | EPS rep | Sales act | Sales est | Analysts |
|---|---|---|---|---|---|---|---|
| 2026Q2 | 2026-08-16 | -1.200 | - | - | 0.00 | - | - |
| 2026Q1 | 2026-05-15 | -1.160 | - | -1.160 | 0.00 | - | - |
| 2025Q4 | 2026-03-24 | -1.820 | - | -1.565 | 0.06 | - | - |
| 2025Q3 | 2025-11-14 | -1.180 | - | -1.184 | 0.06 | - | - |
| 2025Q2 | 2025-08-12 | -0.990 | - | -0.989 | 0.05 | - | - |
| 2025Q1 | 2025-05-15 | -1.010 | - | -1.014 | 0.00 | - | - |
| 2024Q3 | 2024-11-13 | -1.070 | - | -1.066 | 0.00 | - | - |
| 2023Q3 | 2023-11-10 | -1.360 | - | -1.362 | 0.00 | - | - |
| 2023Q2 | 2023-08-11 | -64.000 | - | -3.184 | 0.00 | - | - |
| 2023Q1 | 2023-05-15 | -24.000 | - | -1.251 | 0.00 | - | - |
| 2022Q3 | 2023-05-05 | -1.200 | - | -1.198 | 0.00 | - | - |
| 2022Q4 | 2023-03-31 | -6.800 | - | -6.783 | 0.01 | - | - |
| 2022Q2 | 2022-08-09 | -1.200 | - | -1.245 | 0.03 | - | - |
| 2022Q1 | 2022-05-13 | -1.000 | - | -0.932 | 0.01 | - | - |
Annual earnings
| Period | EPS act | EPS est | EPS rep | Sales act | Sales est |
|---|---|---|---|---|---|
| 2010FY | 16.800 | 30.200 | 16.800 | 0.07 | 200.11 |
| 2011FY | -7.000 | -5.200 | -7.000 | 0.02 | 1.00 |
| 2012FY | -10.600 | -11.200 | -10.600 | 0.41 | 1.45 |
| 2013FY | -10.800 | -9.000 | -10.800 | 2.20 | 3.50 |
| 2014FY | -3.800 | -9.000 | -3.800 | 1.25 | 1.20 |
| 2022FY | -10.200 | - | -10.166 | 0.05 | - |
| 2024FY | -5.050 | - | -5.054 | 0.01 | - |
| 2025FY | -5.000 | - | - | 0.16 | - |
Estimate revisions
last 14 periods| Period | Type | Date | Estimates | Up | Down | Mean | Low | High |
|---|---|---|---|---|---|---|---|---|
| No estimate revisions. | ||||||||
Estimate history
| EPS, annual | -6 | -8.067 | -5.595 | 78.315 | -12.063 | -10.166 | -7.787 | -5.054 | -4.997 | -5.1096 |
|---|---|---|---|---|---|---|---|---|---|---|
| Period | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
| EPS, quarterly | -1.066 | -1.066 | -1.466 | -1.014 | -0.989 | -1.184 | -1.565 | -1.16 | -1.201 | |
| Period | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
| Sales, annual | 1.547 | 0.063 | 0.085 | 302.636 | 0.035 | 0.048 | 0.007 | 0.005 | 0.162 | 0.11 |
| Period | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
| Sales, quarterly | 0.001 | 0.002 | 0 | 0 | 0.048 | 0.058 | 0.056 | 0 | 0 | |
| Period | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
| Shares, annual | 2.953 | 3.344 | 3.479 | 3.553 | 3.562 | 3.571 | 3.618 | 4.239 | 4.202 | 4.217 |
| Period | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | MRQ |
| Shares, quarterly | 3.735 | 3.729 | 4.239 | 4.239 | 4.272 | 4.271 | 4.202 | 4.186 | 4.217 | |
| Period | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
Income statement, annual
| Metric | TTM | 2025FY | 2024FY | 2023FY | 2022FY | 2021FY | 2020FY | 2019FY | 2018FY |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 0.11 | 0.16 | 0.01 | 0.01 | 0.05 | 0.04 | 302.64 | 0.09 | 0.06 |
| Cost of Goods Sold Incl. D&A | 0.03 | 0.02 | 0.02 | 0.01 | 0.00 | -9.08 | 90.11 | - | - |
| Gross Profit | 0.09 | 0.14 | -0.02 | -0.00 | 0.04 | 9.11 | 212.53 | - | - |
| Selling, General and Administrative Excl. Other | 20.20 | 19.08 | 20.38 | 31.44 | 22.12 | 58.29 | 56.75 | 19.74 | 25.50 |
| Research and Development | 5.47 | 5.65 | 6.04 | 9.71 | 6.41 | 5.58 | 8.83 | 3.85 | 4.82 |
| Other Operating Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Income | -20.11 | -18.94 | -20.40 | -31.45 | -22.08 | -49.17 | 155.78 | -19.66 | -25.46 |
| Interest Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unusual Expense | 0.50 | 0.50 | 0.00 | 0.00 | 0.00 | 0.00 | -43.38 | - | - |
| Net Income Before Taxes | -19.81 | -18.23 | -18.17 | -27.95 | -20.23 | -49.13 | 307.45 | -19.57 | -25.40 |
| Income Taxes | -0.00 | -0.00 | 0.00 | -0.08 | 16.03 | -6.21 | 27.02 | -0.39 | 0.00 |
| Consolidated Net Income | -19.81 | -18.23 | -18.18 | -27.87 | -36.26 | -42.92 | 280.43 | -19.18 | -25.41 |
| Net Income From Continuing Operations | -19.81 | -18.23 | -18.18 | -27.87 | -36.26 | -42.92 | 280.43 | -19.18 | -25.41 |
| Net Income | -19.81 | -18.23 | -18.18 | -27.87 | -36.26 | -42.92 | 280.43 | -19.18 | -25.41 |
| EPS (Recurring) | -5.16 | -4.90 | -5.05 | -7.79 | -10.17 | -12.06 | 69.83 | -5.59 | -8.07 |
| EPS (Basic, Before Extraordinaries) | -5.11 | -5.00 | -5.05 | -7.79 | -10.17 | -12.06 | 79.16 | -5.59 | -8.07 |
| EPS (Diluted) | -5.11 | -5.00 | -5.05 | -7.79 | -10.17 | -12.06 | 78.31 | -5.59 | -8.07 |
| EBITDA | -20.08 | -18.92 | -20.38 | -31.44 | -22.07 | -49.17 | 155.78 | -19.66 | -25.44 |
| Non-Operating Income (Expense) | 0.80 | 1.21 | 2.23 | 3.50 | 1.85 | 0.05 | 108.29 | 0.09 | 0.05 |
| Other After Tax Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock Option Compensation Expense | 2.14 | 1.56 | 1.50 | 2.19 | 2.63 | 3.05 | 2.87 | 2.71 | 3.20 |
| Price To Earnings Ratio | - | - | - | - | - | - | 1.13 | - | - |
| Price To Sales Ratio | 419.99 | 375.73 | 5,645.72 | 3,579.00 | 1,931.99 | 5,286.13 | 1.19 | 3,065.23 | 2,399.46 |
| Gross Margin | 77.19 | 85.80 | -320.00 | -28.57 | 93.75 | 26,040.00 | 70.23 | - | - |
| Operating Margin | -17,639.47 | -11,691.36 | -407,940.00 | -449,214.29 | -45,991.67 | -140,497.14 | 51.47 | -23,135.29 | -40,407.94 |
| Net Margin | -17,373.68 | -11,250.00 | -363,500.00 | -398,157.14 | -75,541.67 | -122,631.43 | 92.66 | -22,564.71 | -40,326.98 |
| Shares Outstanding | 4.22 | 4.20 | 4.24 | 3.62 | 3.57 | 3.56 | 3.55 | 3.48 | 3.34 |
| Market Capitalization | 38.81 | 38.81 | 51.91 | 65.18 | 1,634.80 | 3,260.82 | 6,305.51 | 4,650.55 | 2,937.19 |
Income statement, quarterly
| Metric | 2026Q2 | 2026Q1 | 2025Q4 | 2025Q3 | 2025Q2 | 2025Q1 | 2024Q4 | 2024Q3 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | 0.00 | 0.00 | 0.06 | 0.06 | 0.05 | 0.00 | 0.00 | 0.00 |
| Cost of Goods Sold Incl. D&A | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Gross Profit | -0.01 | -0.01 | 0.05 | 0.05 | 0.04 | -0.01 | -0.01 | -0.00 |
| Selling, General and Administrative Excl. Other | 4.64 | 4.50 | 6.85 | 4.20 | 3.99 | 4.04 | 6.66 | 4.38 |
| Research and Development | 1.13 | 1.16 | 2.04 | 1.14 | 1.22 | 1.26 | 2.37 | 1.18 |
| Other Operating Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Income | -4.65 | -4.51 | -6.80 | -4.14 | -3.94 | -4.05 | -6.67 | -4.39 |
| Interest Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unusual Expense | 0.00 | 0.00 | 0.00 | 0.50 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income Before Taxes | -4.53 | -4.35 | -6.58 | -4.35 | -3.62 | -3.68 | -6.21 | -3.84 |
| Income Taxes | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Consolidated Net Income | -4.53 | -4.35 | -6.58 | -4.35 | -3.62 | -3.68 | -6.21 | -3.84 |
| Net Income From Continuing Operations | -4.53 | -4.35 | -6.58 | -4.35 | -3.62 | -3.68 | -6.21 | -3.84 |
| Net Income | -4.53 | -4.35 | -6.58 | -4.35 | -3.62 | -3.68 | -6.21 | -3.84 |
| EPS (Recurring) | -1.20 | -1.16 | -1.57 | -1.09 | -0.99 | -1.01 | -1.47 | -1.07 |
| EPS (Basic, Before Extraordinaries) | -1.20 | -1.16 | -1.57 | -1.18 | -0.99 | -1.01 | -1.47 | -1.07 |
| EPS (Diluted) | -1.20 | -1.16 | -1.57 | -1.18 | -0.99 | -1.01 | -1.47 | -1.07 |
| EBITDA | -4.64 | -4.50 | -6.80 | -4.14 | -3.94 | -4.04 | -6.66 | -4.38 |
| Non-Operating Income (Expense) | 0.12 | 0.15 | 0.22 | 0.30 | 0.32 | 0.37 | 0.45 | 0.55 |
| Other After Tax Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock Option Compensation Expense | 0.59 | 0.58 | 0.49 | 0.48 | 0.44 | 0.34 | 0.39 | 0.46 |
| Price To Sales Ratio | 419.99 | 326.97 | 432.90 | 623.37 | 794.22 | 8,934.51 | 6,654.57 | 5,080.23 |
| Gross Margin | - | - | 87.50 | 89.66 | 89.58 | - | - | -200.00 |
| Operating Margin | - | - | -12,151.79 | -7,144.83 | -8,216.67 | - | - | -219,350.00 |
| Net Margin | - | - | -11,744.64 | -7,496.55 | -7,543.75 | - | - | -191,950.00 |
| Shares Outstanding | 4.22 | 4.19 | 4.20 | 4.27 | 4.27 | 4.24 | 4.24 | 3.73 |
| Market Capitalization | 38.81 | 59.06 | 183.42 | 150.46 | 84.64 | 88.00 | 51.91 | 69.69 |
Balance sheet, annual
| Metric | 2025FY | 2024FY | 2023FY | 2022FY | 2021FY | 2020FY | 2019FY | 2018FY | 2017FY |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 21.53 | 38.08 | 53.55 | 152.02 | 169.27 | 221.26 | 5.53 | 9.41 | 4.59 |
| Short Term Receivables | 0.02 | 0.00 | 0.00 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Assets | 0.12 | 0.12 | 0.28 | 0.22 | 0.20 | 3.17 | 0.24 | 0.72 | 0.59 |
| Total Current Assets | 21.67 | 38.20 | 53.83 | 152.26 | 169.49 | 224.43 | 5.77 | 10.14 | 5.18 |
| Net Property, Plant & Equipment | 7.30 | 0.11 | 0.16 | 0.06 | 0.12 | 0.06 | 0.11 | 0.01 | 0.01 |
| Total Investments and Advances | 2.00 | 2.50 | 2.50 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Intangible Assets | - | - | - | - | - | - | - | 0.00 | 0.00 |
| Deferred Tax Assets | - | - | - | 0.00 | 15.95 | 9.05 | - | - | - |
| Other Assets | 0.09 | 8.80 | 3.92 | 0.66 | 0.96 | 1.26 | 1.61 | 1.60 | 1.99 |
| Total Assets | 31.06 | 49.61 | 60.41 | 152.97 | 186.52 | 234.79 | 7.50 | 11.75 | 7.17 |
| Short Term Debt Incl. Current Port. of LT Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Accounts Payable | 0.39 | 0.34 | 0.44 | 0.37 | 0.34 | 0.65 | 1.35 | 1.05 | 0.41 |
| Income Tax Payable | - | - | - | - | - | - | 0.00 | 0.40 | 0.39 |
| Other Current Liabilities | 1.64 | 6.86 | 0.81 | 0.36 | 0.68 | 9.70 | 0.48 | 0.42 | 3.67 |
| Total Current Liabilities | 2.02 | 7.20 | 1.25 | 0.73 | 1.02 | 10.36 | 1.83 | 1.86 | 4.48 |
| Long Term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Provision for Risks Charges | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 6.56 | 2.79 | 3.15 | 0.00 | 0.05 | 0.00 | 0.04 | 0.00 | 1.14 |
| Total Liabilities | 8.59 | 9.99 | 4.40 | 0.73 | 1.07 | 10.36 | 1.87 | 1.86 | 5.62 |
| Non-Equity Reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Stock - Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Common Equity | 22.47 | 39.62 | 56.01 | 152.24 | 185.45 | 224.44 | 5.63 | 9.89 | 1.55 |
| Total Shareholders Equity | 22.47 | 39.62 | 56.01 | 152.24 | 185.45 | 224.44 | 5.63 | 9.89 | 1.55 |
| Accumulated Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Equity | 22.47 | 39.62 | 56.01 | 152.24 | 185.45 | 224.44 | 5.63 | 9.89 | 1.55 |
| Total Liabilities & Stockholders Equity | 31.06 | 49.61 | 60.41 | 152.97 | 186.52 | 234.79 | 7.50 | 11.75 | 7.17 |
| Book Value Per Share | 5.35 | 9.35 | 15.48 | 42.63 | 52.07 | 63.17 | 1.62 | 2.96 | 0.53 |
| Tangible Book Value Per Share | 5.35 | 9.35 | 15.48 | 42.63 | 52.07 | 63.17 | 1.62 | 2.96 | 0.53 |
| Full-Time Employees | 21 | 23 | 27 | 25 | 24 | 21 | 20 | 21 | 21 |
| Price to Book Ratio | 2.59 | 1.14 | 1.05 | 0.47 | 0.88 | 1.40 | 818.01 | 285.80 | 1,416.79 |
| Return on Assets | -45.18 | -33.04 | -26.12 | -21.36 | -20.38 | 231.48 | -199.28 | -268.48 | -132.67 |
| Return on Equity | -58.70 | -38.01 | -26.77 | -21.48 | -20.94 | 243.78 | -247.23 | -444.12 | -272.09 |
| Return on Invested Capital | -81.09 | -45.87 | -49.76 | -23.82 | -23.14 | 124.95 | -340.80 | -256.94 | -1,112.56 |
| Quick Ratio | 10.70 | 5.31 | 42.93 | 208.29 | 166.01 | 21.67 | 3.16 | 5.44 | 1.16 |
| Current Ratio | 10.70 | 5.31 | 42.93 | 208.29 | 166.01 | 21.67 | 3.16 | 5.44 | 1.16 |
Cash flow, annual
| Metric | TTM | 2025FY | 2024FY | 2023FY | 2022FY | 2021FY | 2020FY | 2019FY | 2018FY |
|---|---|---|---|---|---|---|---|---|---|
| Net Income | -19.81 | -18.23 | -18.18 | -27.87 | -36.26 | -42.92 | 280.43 | -19.18 | -25.41 |
| Depreciation | 0.03 | 0.02 | 0.02 | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.02 |
| Other Funds (Non Cash) | 3.08 | 2.47 | 1.90 | 2.79 | 3.33 | 4.22 | 4.01 | 3.71 | 4.05 |
| Funds from Operations | -16.70 | -15.73 | -16.25 | -25.07 | -16.89 | -45.60 | 275.39 | -15.46 | -21.33 |
| Extraordinary Item | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in Working Capital | 0.27 | 0.09 | 0.92 | 0.30 | -0.00 | -6.12 | 6.00 | 0.38 | -0.96 |
| Income Taxes Payable | - | - | - | 0.00 | -0.00 | 2.90 | -2.90 | -0.40 | 0.00 |
| Cash from Operating Activities | -16.43 | -15.64 | -15.33 | -24.77 | -16.89 | -51.72 | 281.39 | -15.08 | -22.30 |
| Capital Expenditures | -0.03 | -0.02 | -0.02 | -0.07 | 0.00 | -0.01 | 0.00 | -0.01 | 0.00 |
| Net Assets From Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | - |
| Sale of Fixed Assets and Businesses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchase or Sale of Investments | 13.12 | 8.79 | 12.48 | 36.01 | -38.53 | 1.04 | -25.95 | -0.59 | -0.37 |
| Purchase of Investments | -4.77 | -16.18 | -28.62 | -49.72 | -67.07 | -26.33 | -33.06 | -5.78 | -3.09 |
| Sale Or Maturity of Investments | 17.89 | 24.97 | 41.11 | 85.72 | 28.54 | 27.37 | 7.11 | 5.19 | 2.72 |
| Other Uses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Sources | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from Investing Activities | 13.10 | 8.77 | 12.46 | 35.94 | -38.53 | 1.03 | -25.95 | -0.61 | -0.37 |
| Cash Dividends Paid | 0.00 | 0.00 | 0.00 | -71.43 | 0.00 | 0.00 | -70.84 | 0.00 | 0.00 |
| Change in Capital Stock | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 5.53 | 11.36 | 27.19 |
| Repurchase of Common Pref Stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale of Common Pref Stock | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 5.53 | 11.36 | 27.19 |
| Proceedsfrom Stock Options | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.49 | 10.54 | 27.05 |
| Issuance or Reduction of Debt, Net | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change in Long Term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Issuance of Long Term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Reduction of Long Term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Financing Active Other Cash Flow | -0.88 | -0.88 | -0.13 | -0.01 | -0.03 | -0.20 | -0.36 | -0.14 | -0.04 |
| Other Financing Activities Uses | -0.88 | -0.88 | -0.13 | -0.01 | -0.03 | -0.20 | -0.36 | -0.14 | -0.04 |
| Cash from Financing Activities | -0.87 | -0.87 | -0.13 | -71.44 | -0.03 | -0.20 | -65.66 | 11.21 | 27.14 |
| Net Change in Cash | -4.20 | -7.75 | -2.99 | -60.27 | -55.46 | -50.89 | 189.77 | -4.48 | 4.48 |
| Free Cash Flow | -16.45 | -15.66 | -15.35 | -24.84 | -16.89 | -51.73 | 281.39 | -15.09 | -22.30 |
| Preferred Dividends (Cash Flow) | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Price to Free Cash Flow | - | - | - | - | - | - | 1.71 | - | - |
| Deferred Taxes & Investment Tax Credit | - | 0.00 | 0.00 | 0.00 | 16.03 | -6.90 | -9.05 | 0.00 | 0.00 |
Balance sheet, quarterly
| Metric | 2026Q2 | 2026Q1 | 2025Q4 | 2025Q3 | 2025Q2 | 2025Q1 |
|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 13.89 | 17.22 | 21.53 | 28.19 | 31.23 | 34.18 |
| Short Term Receivables | 0.00 | 0.00 | 0.02 | 0.02 | 0.05 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Assets | 0.22 | 0.34 | 0.12 | 0.22 | 0.26 | 0.40 |
| Total Current Assets | 14.11 | 17.56 | 21.67 | 28.43 | 31.54 | 34.58 |
| Net Property, Plant & Equipment | 6.77 | 7.04 | 7.30 | 7.45 | 7.69 | 0.09 |
| Total Investments and Advances | 2.00 | 2.00 | 2.00 | 2.00 | 2.50 | 2.50 |
| Other Assets | 0.09 | 0.09 | 0.09 | 0.10 | 0.09 | 7.94 |
| Total Assets | 22.97 | 26.69 | 31.06 | 37.98 | 41.82 | 45.11 |
| Short Term Debt Incl. Current Port. of LT Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Accounts Payable | 0.50 | 0.35 | 0.39 | 0.38 | 0.29 | 0.33 |
| Other Current Liabilities | 1.76 | 1.71 | 1.64 | 1.70 | 1.65 | 1.62 |
| Total Current Liabilities | 2.26 | 2.06 | 2.02 | 2.07 | 1.94 | 1.95 |
| Long Term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Provision for Risks Charges | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 5.65 | 5.78 | 6.56 | 6.62 | 6.71 | 6.80 |
| Total Liabilities | 7.91 | 7.84 | 8.59 | 8.69 | 8.65 | 8.75 |
| Non-Equity Reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Stock - Carrying Value | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Common Equity | 15.06 | 18.85 | 22.47 | 29.29 | 33.17 | 36.36 |
| Total Shareholders Equity | 15.06 | 18.85 | 22.47 | 29.29 | 33.17 | 36.36 |
| Accumulated Minority Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Equity | 15.06 | 18.85 | 22.47 | 29.29 | 33.17 | 36.36 |
| Total Liabilities & Stockholders Equity | 22.97 | 26.69 | 31.06 | 37.98 | 41.82 | 45.11 |
| Book Value Per Share | 3.57 | 4.50 | 5.35 | 6.86 | 7.77 | 8.58 |
| Tangible Book Value Per Share | 3.57 | 4.50 | 5.35 | 6.86 | 7.77 | 8.58 |
| Full-Time Employees | - | - | 21 | - | - | - |
| Price to Book Ratio | 2.59 | 2.64 | 6.26 | 4.54 | 2.33 | 1.93 |
| Return on Assets | -61.14 | -52.64 | -45.18 | -38.18 | -34.44 | -32.71 |
| Return on Equity | -82.13 | -68.46 | -58.70 | -47.77 | -42.34 | -39.67 |
| Return on Invested Capital | -30.06 | -23.09 | -29.26 | -14.84 | -10.92 | -10.12 |
| Quick Ratio | 6.24 | 8.53 | 10.70 | 13.72 | 16.26 | 17.72 |
| Current Ratio | 6.24 | 8.53 | 10.70 | 13.72 | 16.26 | 17.72 |
Cash flow, quarterly
| Metric | 2026Q2 | 2026Q1 | 2025Q4 | 2025Q3 | 2025Q2 | 2025Q1 |
|---|---|---|---|---|---|---|
| Net Income | -4.53 | -4.35 | -6.58 | -4.35 | -3.62 | -3.68 |
| Depreciation | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Other Funds (Non Cash) | 0.74 | 0.74 | 0.62 | 0.98 | 0.44 | 0.43 |
| Funds from Operations | -3.78 | -3.61 | -5.95 | -3.36 | -3.17 | -3.24 |
| Extraordinary Item | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in Working Capital | 0.46 | -0.69 | 0.14 | 0.36 | 0.24 | -0.65 |
| Cash from Operating Activities | -3.32 | -4.30 | -5.81 | -3.00 | -2.94 | -3.89 |
| Capital Expenditures | -0.01 | 0.00 | 0.00 | -0.02 | 0.00 | 0.00 |
| Net Assets From Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale of Fixed Assets and Businesses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchase or Sale of Investments | 1.65 | 3.52 | 5.08 | 2.87 | -2.98 | 3.82 |
| Purchase of Investments | 0.00 | 0.00 | 0.00 | -4.77 | -7.95 | -3.46 |
| Sale Or Maturity of Investments | 1.65 | 3.52 | 5.08 | 7.64 | 4.97 | 7.28 |
| Other Uses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Sources | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from Investing Activities | 1.64 | 3.52 | 5.08 | 2.85 | -2.98 | 3.82 |
| Cash Dividends Paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Dividends (Cash Flow) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change in Capital Stock | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 |
| Repurchase of Common Pref Stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale of Common Pref Stock | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 |
| Proceedsfrom Stock Options | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Issuance or Reduction of Debt, Net | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change in Long Term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Issuance of Long Term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Reduction of Long Term Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Financing Active Other Cash Flow | -0.01 | -0.00 | -0.86 | -0.01 | -0.01 | 0.00 |
| Other Financing Activities Uses | -0.01 | -0.00 | -0.86 | -0.01 | -0.01 | 0.00 |
| Cash from Financing Activities | -0.01 | -0.00 | -0.85 | -0.01 | -0.01 | 0.00 |
| Net Change in Cash | -1.68 | -0.77 | -1.58 | -0.16 | -5.93 | -0.07 |
| Free Cash Flow | -3.33 | -4.30 | -5.81 | -3.02 | -2.94 | -3.89 |
Revenue breakdown
| Patent Owners & Lessors | 2024: 5.00K 2025: 162.00K |
|---|---|
| United States | 2024: 5.00K 2025: 162.00K |
Short interest
shares short against float, oldest to newest| Settlement | Of float | Shares short | Float | Avg volume |
|---|---|---|---|---|
| 2026-10-30 | 3.85% | 0.1M | 3.6M | 58.47K |
| 2026-10-15 | 4.19% | 0.1M | 3.6M | 57.89K |
| 2026-09-30 | 4.09% | 0.1M | 3.6M | 60.28K |
| 2026-09-15 | 3.84% | 0.1M | 3.6M | 53.78K |
| 2026-08-31 | 4.01% | 0.1M | 3.5M | 24.03K |
| 2026-08-14 | 4.07% | 0.1M | 3.6M | 21.76K |
| 2026-07-31 | 4.29% | 0.2M | 3.5M | 20.77K |
| 2026-07-15 | 4.32% | 0.2M | 3.5M | 22.80K |
| 2026-06-30 | 4.48% | 0.2M | 3.5M | 24.48K |
| 2026-06-15 | 4.41% | 0.2M | 3.5M | 22.27K |
| 2026-05-29 | 4.45% | 0.2M | 3.6M | 20.58K |
| 2026-05-15 | 4.50% | 0.2M | 3.6M | 20.26K |
| 2026-04-30 | 4.61% | 0.2M | 3.5M | 20.59K |
| 2026-04-15 | 4.65% | 0.2M | 3.5M | 19.06K |
| 2026-03-31 | 4.53% | 0.2M | 3.5M | 18.23K |
| 2026-03-13 | 4.50% | 0.2M | 3.6M | 25.21K |
| 2026-02-27 | 4.54% | 0.2M | 3.6M | 25.34K |
| 2026-02-13 | 4.32% | 0.2M | 3.6M | 25.86K |
| 2026-01-30 | 4.28% | 0.2M | 3.6M | 27.07K |
| 2026-01-15 | 4.21% | 0.2M | 3.6M | 65.07K |
Option chain
expiry 2026-11-11| Type | Strike | Bid | Ask | Last | IV | Open int | Volume | Delta | Theta | Vega |
|---|---|---|---|---|---|---|---|---|---|---|
| No option chain for this symbol. | ||||||||||
Latest SEC filings
30| Filed | Form | Description | Period | Link |
|---|---|---|---|---|
| 2026-10-02 | 4 | Statement of changes in beneficial ownership of securities | 2026-09-30 | SEC |
| 2026-10-01 | 8-K | Current report | 2026-10-01 | SEC |
| 2026-10-01 | 424B5 | SEC | ||
| 2026-09-29 | 144 | Filing for proposed sale of securities under Rule 144. | SEC | |
| 2026-09-02 | 4 | Statement of changes in beneficial ownership of securities | 2026-08-31 | SEC |
| 2026-09-02 | 4 | Statement of changes in beneficial ownership of securities | 2026-08-31 | SEC |
| 2026-08-27 | 144 | Filing for proposed sale of securities under Rule 144. | SEC | |
| 2026-08-27 | 144 | Filing for proposed sale of securities under Rule 144. | SEC | |
| 2026-08-14 | 10-Q | Quarterly report pursuant to Section 13 or 15(d) | 2026-06-30 | SEC |
| 2026-07-13 | 4 | Statement of changes in beneficial ownership of securities | 2026-07-06 | SEC |
| 2026-06-25 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-11 | SEC |
| 2026-06-17 | S-8 | Initial registration statement for securities to be offered to employees pursuant to employee benefit plans | SEC | |
| 2026-06-16 | 8-K | Current report | 2026-06-11 | SEC |
| 2026-06-15 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-11 | SEC |
| 2026-06-15 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-11 | SEC |
| 2026-06-15 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-11 | SEC |
| 2026-06-02 | EFFECT | Effectiveness filing by commission order | SEC | |
| 2026-05-27 | CORRESP | SEC | ||
| 2026-05-21 | UPLOAD | Upload Submission | SEC | |
| 2026-05-15 | S-3 | Registration statement for specified transactions by certain issuers including face-amount certificate companies | SEC | |
| 2026-05-15 | 10-Q | Quarterly report pursuant to Section 13 or 15(d) | 2026-03-31 | SEC |
| 2026-04-24 | ARS | Annual report to security holders. | 2025-12-31 | SEC |
| 2026-04-24 | DEFA14A | Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 | SEC | |
| 2026-04-24 | DEF 14A | Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 | 2026-06-11 | SEC |
| 2026-03-24 | 10-K | Annual report pursuant to Section 13 or 15(d) | 2025-12-31 | SEC |
| 2025-12-03 | 4 | Statement of changes in beneficial ownership of securities | 2025-12-03 | SEC |
| 2025-11-26 | 144 | Filing for proposed sale of securities under Rule 144. | SEC | |
| 2025-11-26 | 4 | Statement of changes in beneficial ownership of securities | 2025-11-24 | SEC |
| 2025-11-26 | 4 | Statement of changes in beneficial ownership of securities | 2025-11-26 | SEC |
| 2025-11-26 | 4 | Statement of changes in beneficial ownership of securities | 2025-11-24 | SEC |
Insider activity by month
| Month | Bought | Buys | Sold | Sells |
|---|---|---|---|---|
| 2026-11 | 0 | 0 | 0 | 0 |
| 2026-10 | 0 | 0 | 0 | 0 |
| 2026-09 | 0 | 0 | 391.45K | 7 |
| 2026-08 | 0 | 0 | 97.74K | 2 |
| 2026-07 | 0 | 0 | 0 | 0 |
| 2026-06 | 0 | 0 | 0 | 0 |
| 2026-05 | 0 | 0 | 0 | 0 |
| 2026-04 | 0 | 0 | 0 | 0 |
| 2026-03 | 0 | 0 | 0 | 0 |
| 2026-02 | 0 | 0 | 0 | 0 |
| 2026-01 | 0 | 0 | 0 | 0 |
| 2025-12 | 0 | 0 | 0 | 0 |
| 2025-11 | 0 | 0 | 55.62K | 2 |
Institutional holders
| Manager | % owned |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | 3.77% |
| Williams Jones Wealth Management, LLC. | 2.35% |
| Csenge Advisory Group | 1.63% |
| BlackRock, Inc. | 1.58% |
| GEODE CAPITAL MANAGEMENT, LLC | 0.78% |
| Baird Financial Group, Inc. | 0.67% |
| VANGUARD FIDUCIARY TRUST CO | 0.54% |
| CITADEL ADVISORS LLC | 0.50% |
| HighTower Advisors, LLC | 0.49% |
| UBS Group AG | 0.42% |
Funds
| Fund | % owned |
|---|---|
| VANGUARD TOTAL STOCK MARKET INDEX FUND | 2.71% |
| VANGUARD EXTENDED MARKET INDEX FUND | 0.94% |
| Fidelity Extended Market Index Fund | 0.43% |
| iShares Micro-Cap ETF | 0.29% |
| Fidelity Total Market Index Fund | 0.14% |
| Fidelity Series Total Market Index Fund | 0.13% |
| Fidelity Nasdaq Composite Index Fund | 0.07% |
| VANGUARD BALANCED INDEX FUND | 0.06% |
| VANGUARD INSTITUTIONAL TOTAL STOCK MARKET INDEX FUND | 0.06% |
| U.S. CORE EQUITY 2 PORTFOLIO | 0.02% |
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