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VirnetX Holding Corp (VHC+2.62%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The company reported a net loss of $18.2 million for the year, with an accumulated deficit of $204.7 million as of December 31, 2024.
Revenue for 2024 was $5, down from $7 in 2023. The decrease in revenue was accompanied by a reduction in research and development expenses to $6,038,000 from $9,713,000 in the previous year.
Selling, general, and administrative expenses also decreased to $14,364,000 from $21,739,000 in 2023.
Interest and other income for 2024 was $2,225,000, compared to $3,495,000 in 2023.
The company's cash and cash equivalents totaled $23,296,000 as of December 31, 2024, with short-term investments of $14,786,000.
VirnetX's product portfolio includes the VirnetX One™ platform, War Room™ software, and VirnetX Matrix™, which are designed to enhance secure network communications.
The company continues to pursue commercialization of its products and intellectual property both within and outside the United States.
VirnetX's patent portfolio focuses on securing real-time communications over the Internet and is used in all of its technology and products.
The company is engaged in various legal proceedings and records potential gains from these proceedings only after cash is collected.
VirnetX continues to focus on licensing its technology to original equipment manufacturers and other partners in the IP-telephony, mobility, and unified communications markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the VirnetX Holding Corp annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.