VirnetX (VHC)
Builds secure communications and zero-trust network access software for public-sector and commercial users.
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Sells VirnetX One, Matrix, War Room, and iSCOUT software and services rooted in secure communications technology. Its expansion into defense and intelligence markets depends on converting product, certification, and cleared-contract eligibility into customer activity.
Develops VirnetX One, a zero-trust network access platform built on Secure Domain Name System technology, alongside VirnetX Matrix, War Room, and iSCOUT. It also offers Digital Engineering services for government, public-sector, and commercial settings.
Built from a secure-communications patent base with development roots at Leidos, the business is expanding its defense and intelligence channels across public-sector markets. Its facilities hold Defense Department certifications, and its Utah facility has a security clearance that permits support for cleared contracts. Converting products, credentials, and cleared-contract eligibility into customer activity remains the operating dependency.
Company facts
Categories
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $13.9M · Total debt $0 · Total assets $23.0M · Shareholders' equity $15.1M
- Revenue
- $0
- Operating income
- −$4.7M
- Net income
- −$4.5M
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Apr 18, 2023 | Apr 10 | $1.00 |
| Institutions29 holders · as of Mar 31, 2026 | 12.76% | 537.9K shares | |
| Insiders7 holders · as of Sep 2, 2026 | 16.35% | 689.6K shares | |
| Otherremainder | 70.89% | 2.99M shares |
4.22M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Kendall Larsen1Insiderdirector, 10 percent owner, officer: President & CEO | 12.04% | 522,047 | 13Dfiled Sep 2, 2026 ↗ |
Vanguard Capital Management LLCInstitution | 3.69% | 155,541 | 13Fas of Mar 31, 2026 |
Williams Jones Wealth Management, LLC.Institution | 2.37% | 100,140 | 13Fas of Mar 31, 2026 |
Csenge Advisory GroupInstitution | 1.62% | 68,360 | 13Fas of Mar 31, 2026 |
BlackRock, Inc.Institution | 1.50% | 63,308 | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
- Kendall Larsen's transaction reports restate only vehicles that traded; the 2025 ownership statement (522.0K) less the 14.6K net shares sold since is used instead.
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 2, 2026 | Kendall Larsen | director, 10 percent owner, officer: President & CEO | −4,575 | $11.51 |
| Sep 1, 2026 | Kendall Larsen | director, 10 percent owner, officer: President & CEO | −5,000 | $11.00 |
| Aug 31, 2026 | Kendall Larsen | director, 10 percent owner, officer: President & CEO | −5,000 | $11.17 |
| Sep 1, 2026 | Gary Feiner | director | −3,750 | $11.00 |
| Aug 31, 2026 | Gary Feiner | director | −3,750 | $11.17 |
- Zscaler
Cloud-delivered ZTNA through Zscaler Private Access.
- Palo Alto Networks
ZTNA and SASE access through Prisma Access.
- Cloudflare
Identity-based ZTNA and SASE for private-app access.
- Cisco Systems
Secure access through Cisco Umbrella and Secure Access.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| VirnetX | $11.30 | +0.18% | $47.3M | — | — | 414.9 | — |
| Zscaler | $177.82 | +2.93% | $27.93B | — | 37.7 | 8.8 | +25.4% |
| Palo Alto Networks | $330.58 | +0.66% | $267.71B | 746.5 | 80.7 | 23.3 | +34.5% |
| Cloudflare | $276.15 | +1.28% | $96.77B | — | 185.0 | 38.5 | +35.9% |
| Cisco Systems | $108.86 | −0.55% | $431.41B | 32.9 | 21.4 | 6.8 | +17.6% |
| Median | 389.7 | 59.2 | 16.1 | +29.9% |