VirnetX Holding Corp (VHC) stock: insider buying, earnings and risk | BrightDollar

VirnetX Holding Corp · Patent Owners & Lessors

VHC

High riskNext report: Due any day

The short version

A company still losing money with shrinking sales, with elevated risk.

Going well

No debt reported

Watch out for

Sales down 100% in the latest quarter vs a year ago
About 12 months of cash left at its current burn
Losing money, losses are large next to sales

Money moves

Insiders sold $10K in the last 30 days, all through pre-planned sales
Institutions added 8.7% to their holdings in the quarter ending June 2026 (8 bought, 11 sold)

Facts from SEC filings, not a recommendation.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$0

Sep '23Tap a barJun '26

Last 12 months: $114K. Over 5 years, sales shrank about 78% a year.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

1/6Weak

MissReturn on equity 15%+Earns a lot on the money owners have in the business.-58.7%
PassDebt under half of equityNot relying on borrowed money.No debt reported
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.Losses many times its sales
MissProfitable every yearSteady profits, not one good year.1 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$15.7M
MissShare count not growingNot diluting owners. Falling means buybacks.+2.3% in 3 years

Revenue: $162K
5-year growth: -77.8%/yr; revenue, per year
Total debt: None; 0.00x equity
Free cash flow: -$15.7M; -9667.3% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Oct 19, 2017

Revenue: $0; -100.0% YoY
EPS: -$1.20; vs -$0.99
Free cash flow: -$3.3M
Share count: +3.0%; vs a year ago

Insider rating

Last 90 days

50Mixed

Pre-planned sales of $10K (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 0.8
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+8.7%

Institutions added 8.7% to their holdings. 8 bought, 11 sold. 4 quarters of net buying in a row.

Shares held by institutions585K

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+5.6%

Cash runwayAt last year's cash burn

10 months

Debt to equityLatest balance sheet: debt compared with what owners have

No debt reported

Shares outstandingLatest reported

4M

Why high risk

Losing money, losses are large next to sales
About 10 months of cash left at its current burn
Share count growing 5.6% a year
2 offering filings in 6 months (may sell new shares)

Earnings reports

Last 2

Next reportDue any dayEstimated from the same quarter last year

Results filedOct 19, 2017
Results filedAug 9, 2010

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

Offering prospectusOct 1 · View filing ↗Offering Shelf offering registrationMay 15 · View filing ↗Offering

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$10K1 insider, 1 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Michael F AngeloDirector	Sell	1K	$10.26	$10K	28K	Sep 30Filing ↗
-3.4% of their holdings Pre-planned sale (10b5-1) Filed 2 days after

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

SoldMichael F AngeloDirector

1,000 shares at $10.26 · $10K

-3% of holdings
Now owns 28,209 shares
Pre-planned sale (10b5-1)
Filed 2 days after trade

Sep 30Form 4 ↗

Offering prospectusOct 1 · Form 424B5 ↗Major agreementOct 1 · Form 8-K ↗Planned insider saleSep 29 · Form 144 ↗

SoldKendall LarsenPresident & CEO, Director, 10% owner

20,425 shares at $11.37 avg ($11.17 to $11.48) · $232K

-6% of holdings
Now owns 339,633 shares
Pre-planned sale (10b5-1)
3 transactions
Filed same day

Sep 14Form 4 ↗

SoldGary FeinerDirector

7,500 shares at $11.09 avg ($11.00 to $12.03) · $83K

-31% of holdings
Now owns 16,874 shares
Pre-planned sale (10b5-1)
3 transactions
Filed 1 day after trade

Sep 1Form 4 ↗

SoldKendall LarsenPresident & CEO, Director, 10% owner

14,575 shares at $11.22 avg ($11.00 to $12.13) · $163K

-4% of holdings
Now owns 360,058 shares
Pre-planned sale (10b5-1)
4 transactions
Filed same day

Sep 2Form 4 ↗

Planned insider saleAug 27 · Form 144 ↗Planned insider saleAug 27 · Form 144 ↗Quarterly reportAug 14 · Form 10-Q ↗

Shares withheld for taxesKatherine AllansonChief Financial Officer

100 shares at $11.95 · $1K

-0% of holdings
Now owns 31,205 shares
Filed 7 days after trade

Jul 6Form 4 ↗

Employee stock plan registrationJun 17 · Form S-8 ↗Leadership changeJun 16 · Form 8-K ↗

Stock awardGary FeinerDirector

7,500 shares

+44% of holdings
Now owns 24,374 shares
Filed 4 days after trade

Jun 11Form 4 ↗

Insider tradeJun 15 · Form 4 ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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