VIRNETX HOLDING Reports Second Quarter Earnings For Fiscal Year 2023 on June 30, 2023
August 24, 2023
🌥️Earnings Overview
On June 30 2023, VIRNETX HOLDING ($NYSE:VHC) reported their second quarter earnings for the fiscal year 2023. Total revenue decreased 100%, totalling 0.0 million USD compared to the same quarter the previous year. Net income also dropped year-over-year, falling from -4.4 million USD to -11.4 million USD.
Share Price
The company’s stock opened at $0.4 and closed at $0.4, a 0.6% decrease from its prior closing price of 0.4. This is the first time that VIRNETX HOLDING has reported quarterly earnings since the beginning of the fiscal year. The company has seen some turbulence in the markets due to its patent litigation cases.
Overall, VIRNETX HOLDING had a successful second quarter for fiscal year 2023, and investors are hopeful that this trend will continue in the coming quarters. Investors will be closely monitoring the company’s performance and are hoping to see more growth in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Virnetx Holding. More…
| Total Revenues | Net Income | Net Margin |
| 0.01 | -44.35 | -341146.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Virnetx Holding. More…
| Operations | Investing | Financing |
| -24.06 | -5.71 | -71.43 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Virnetx Holding. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 67.25 | 0.81 | 0.93 |
Key Ratios Snapshot
Some of the financial key ratios for Virnetx Holding are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -96.5% | – | -241830.8% |
| FCF Margin | ROE | ROA |
| -185100.0% | -27.4% | -29.2% |
Analysis
GoodWhale has conducted an analysis of VIRNETX HOLDING‘s wellbeing. Our star chart reveals that VIRNETX HOLDING is strong in asset, profitability and medium in dividend. In terms of growth, however, it is weak. Based on this, we have classified VIRNETX HOLDING as a ‘cow’, meaning a company paying out consistent and sustainable dividends. This classification may be appealing to investors who are looking for a reliable income stream. Furthermore, with an intermediate health score of 5/10 with regard to its cashflows and debt, VIRNETX HOLDING is likely to pay off debt and fund future operations. This provides some assurance for investors when considering investing in the company. More…
Peers
The company’s competitors include 360 Security Technology Inc, Zerify Inc, Gorilla Technology Group Inc, and other companies that focus on patents and intellectual property.
– 360 Security Technology Inc ($SHSE:601360)
Palo Alto Networks, Inc. is an American multinational cybersecurity company with headquarters in Santa Clara, California. The company specializes in developing and selling cybersecurity products and services, including firewalls, anti-virus software, and intrusion detection systems. As of 2022, the company has a market cap of 50.45 billion and a return on equity of -3.34%. The company was founded in 2005 and went public in 2012.
– Zerify Inc ($OTCPK:ZRFY)
Zerify Inc is a technology company that provides cloud-based software solutions for businesses. Its products include Zerify CRM, Zerify Sales, Zerify Marketing, and Zerify Support. The company was founded in 2013 and is headquartered in San Francisco, California.
As of 2022, Zerify Inc has a market cap of 6.99M and a ROE of 38.99%. The company’s products are used by businesses of all sizes to improve their customer relations, sales, and marketing efforts. Zerify Inc is a growing company with a strong future outlook.
– Gorilla Technology Group Inc ($NASDAQ:GRRR)
Gorilla Technology Group Inc is a technology company with a market cap of 789.77M as of 2022 and a Return on Equity of -15.6%. The company provides software and hardware products that enable intelligent video analysis, business intelligence, and content management. Gorilla Technology Group Inc’s products are used in a variety of industries, including retail, healthcare, transportation, and government.
Summary
VIRNETX HOLDING has reported a difficult quarter for the second quarter of FY2023, with total revenue dropping to 0.0 million USD, a 100% decrease from the same quarter last year. This paints a bleak picture for investors in VIRNETX HOLDING, and further analysis is needed in order to determine how the company can recover these losses and begin to turn a profit again.
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