VirnetX Holding (VHC) Operating Expenses (2010 - 2026)
VirnetX Holding (VHC) posted Operating Expenses of $4.5 million for Q1 2026, down 34.3% sequentially from $6.9 million in Q4 2025, and up 11.39% YoY from $4.0 million in Q1 2025.
VirnetX Holding (VHC) Operating Expenses (2010 - 2026) Analysis & Trends
VirnetX Holding has reported Operating Expenses for 17 years, with the latest figure at $4.5 million in Q1 2026.
- Quarterly Operating Expenses rose 11.39% year-over-year to $4.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $20.1 million (up 2.78% YoY) and the FY2025 annual result came in at $19.6 million, down 3.92% from the prior year.
- Operating Expenses fell to $4.5 million in Q1 2026 per VHC's latest filing, from $6.9 million in the prior quarter.
- Over five years, Operating Expenses peaked at $12.1 million in Q2 2023 and troughed at $4.0 million in Q2 2025.
- A 5-year average of $5.8 million and a median of $4.9 million in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses sank 86.9% in 2022, then surged 181.82% in 2023.
- Over 5 years, Operating Expenses stood at $8.1 million in 2022, then fell by 3.45% to $7.8 million in 2023, then decreased by 14.26% to $6.7 million in 2024, then increased by 2.88% to $6.9 million in 2025, then sank by 34.3% to $4.5 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $4.5 million, $6.9 million, and $4.7 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 12.28 Bn |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 726.59 Mn |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | 13.05 Bn |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 2.21 Bn |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 953.90 Mn |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 705.21 Mn |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 1.57 Bn |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 2.62 Bn |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 2.72 Bn |
| 10 | VirnetX Holding | 54.13 Mn | 54.13 Mn | - | 4.51 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 4.51 Mn |
| Dec 31, 2025 | 6.86 Mn |
| Sep 30, 2025 | 4.70 Mn |
| Jun 30, 2025 | 3.99 Mn |
| Mar 31, 2025 | 4.05 Mn |
| Dec 31, 2024 | 6.67 Mn |
| Sep 30, 2024 | 4.39 Mn |
| Jun 30, 2024 | 4.42 Mn |
| Mar 31, 2024 | 4.93 Mn |
| Dec 31, 2023 | 7.78 Mn |
| Sep 30, 2023 | 5.64 Mn |
| Jun 30, 2023 | 12.12 Mn |
| Mar 31, 2023 | 5.92 Mn |
| Dec 31, 2022 | 8.06 Mn |
| Sep 30, 2022 | 5.36 Mn |
| Jun 30, 2022 | 4.30 Mn |
| Mar 31, 2022 | 4.41 Mn |
| Dec 31, 2021 | 7.16 Mn |
| Sep 30, 2021 | 4.24 Mn |
| Jun 30, 2021 | 4.16 Mn |