$VHC
VirnetX Holding Corp

2024 Q1 Form 10-K Financial Statement

#000114036124013522 Filed on March 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.000K $0.00 $7.000K
YoY Change 0.0% -100.0% -85.42%
Cost Of Revenue $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $7.000K
YoY Change -100.0% -86.54%
Gross Profit Margin 100.0%
Selling, General & Admin $3.660M $5.406M $21.74M
YoY Change -19.53% 1.08% 38.27%
% of Gross Profit 310557.14%
Research & Development $1.268M $2.372M $9.713M
YoY Change -7.31% -12.41% 51.62%
% of Gross Profit 138757.14%
Depreciation & Amortization $5.000K $9.000K $9.000K
YoY Change 400.0% 350.0% 28.57%
% of Gross Profit 128.57%
Operating Expenses $4.928M $7.778M $31.45M
YoY Change -16.7% -3.45% 42.16%
Operating Profit -$4.926M -$7.778M -$31.45M
YoY Change -16.71% -3.39% 42.44%
Interest Expense $635.0K $671.0K $3.495M
YoY Change -53.62% -34.92% 89.12%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.291M -$7.107M -$27.95M
YoY Change -5.59% 1.24% 38.17%
Income Tax $0.00 $0.00 -$79.00K
% Of Pretax Income
Net Earnings -$4.291M -$7.107M -$27.87M
YoY Change -3.94% -70.66% -23.14%
Net Earnings / Revenue -214550.0% -398157.14%
Basic Earnings Per Share -$1.19 -$7.79
Diluted Earnings Per Share -$1.19 -$2.00 -$7.79
COMMON SHARES
Basic Shares Outstanding 3.682M 3.618M 3.579K
Diluted Shares Outstanding 3.616M 3.579K

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.01M $53.55M $53.55M
YoY Change -66.53% -64.78% -64.78%
Cash & Equivalents $27.59M $26.29M $26.29M
Short-Term Investments $22.41M $27.26M $27.26M
Other Short-Term Assets $367.0K $282.0K $282.0K
YoY Change -40.23% 25.89% 25.89%
Inventory
Prepaid Expenses
Receivables $0.00 $2.000K $2.000K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $50.37M $53.83M $53.83M
YoY Change -66.43% -64.65% -64.65%
LONG-TERM ASSETS
Property, Plant & Equipment $62.00K $67.00K $3.546M
YoY Change 520.0% 509.09% 32136.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.500M $2.500M $2.500M
YoY Change
Other Assets $94.00K $535.0K $535.0K
YoY Change 840.0% -23.9% -23.9%
Total Long-Term Assets $11.90M $6.581M $6.581M
YoY Change 1807.53% 821.71% 821.71%
TOTAL ASSETS
Total Short-Term Assets $50.37M $53.83M $53.83M
Total Long-Term Assets $11.90M $6.581M $6.581M
Total Assets $62.28M $60.41M $60.41M
YoY Change -58.66% -60.51% -60.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $490.0K $440.0K $440.0K
YoY Change -71.04% 17.96% 17.96%
Accrued Expenses $324.0K $316.0K $316.0K
YoY Change -99.55% 1.61% 1.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.029M $1.254M $1.254M
YoY Change -90.44% 71.55% 71.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.062M $3.145M $3.145M
YoY Change
Total Long-Term Liabilities $3.062M $3.145M $3.145M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.029M $1.254M $1.254M
Total Long-Term Liabilities $3.062M $3.145M $3.145M
Total Liabilities $10.09M $4.399M $4.399M
YoY Change -86.28% 501.78% 501.78%
SHAREHOLDERS EQUITY
Retained Earnings -$190.8M -$186.5M
YoY Change 16.98% 113.88%
Common Stock $0.00 $0.00
YoY Change -100.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.18M $56.01M $56.01M
YoY Change
Total Liabilities & Shareholders Equity $62.28M $60.41M $60.41M
YoY Change -58.66% -60.51% -60.51%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$4.291M -$7.107M -$27.87M
YoY Change -3.94% -70.66% -23.14%
Depreciation, Depletion And Amortization $5.000K $9.000K $9.000K
YoY Change 400.0% 350.0% 28.57%
Cash From Operating Activities -$3.516M -$6.973M -$24.77M
YoY Change 29.69% -1.59% 46.65%
INVESTING ACTIVITIES
Capital Expenditures $65.00K $65.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $4.823M $5.506M $36.01M
YoY Change -63.46% -145.29% -193.44%
Cash From Investing Activities $4.823M $5.441M $35.94M
YoY Change -63.46% -144.75% -193.27%
FINANCING ACTIVITIES
Cash Dividend Paid $71.43M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.000K -40.00K -71.44M
YoY Change 246244.83%
NET CHANGE
Cash From Operating Activities -3.516M -6.973M -24.77M
Cash From Investing Activities 4.823M 5.441M 35.94M
Cash From Financing Activities -3.000K -40.00K -71.44M
Net Change In Cash 1.304M -1.572M -60.27M
YoY Change -87.57% -91.83% 8.68%
FREE CASH FLOW
Cash From Operating Activities -$3.516M -$6.973M -$24.77M
Capital Expenditures $65.00K $65.00K
Free Cash Flow -$7.038M -$24.84M
YoY Change -0.68% 47.03%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
86561000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11000
CY2023Q4 us-gaap Assets
Assets
60412000
CY2022Q4 us-gaap Assets
Assets
152975000
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
440000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
373000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
316000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
311000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
498000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
47000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1254000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
731000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
0
CY2023Q4 us-gaap Liabilities
Liabilities
4399000
CY2022Q4 us-gaap Liabilities
Liabilities
731000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-87195000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-12000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
56013000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
152244000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
60412000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
152975000
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7000
CY2022 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15722000
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-31445000
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-22076000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.79
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-10.17
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.79
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-10.17
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3579
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3565
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3565
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
152244000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
185449000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
56013000
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
67000
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
35000
CY2023 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
3596000
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-54000
CY2022 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
41000
CY2023 vhc Increase Decrease In Accrued Licensing Costs
IncreaseDecreaseInAccruedLicensingCosts
0
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
65000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
CY2023 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
47215000
CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
67070000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
35941000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-38535000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
86561000
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
67000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-314000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48000
CY2023 vhc Licensing Costs
LicensingCosts
0
CY2022 vhc Licensing Costs
LicensingCosts
-4000
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9713000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3579
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-27871000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-36260000
CY2023 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
306000
CY2022 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-246000
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-4000
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
0
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
302000
CY2023 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
0
CY2022 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-16032000
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3369000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-331000
CY2023 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
5000
CY2023 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
0
CY2022 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
3000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24773000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16893000
CY2023 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
85721000
CY2022 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
28535000
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
11000
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
29000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-71440000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-29000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-60272000
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001082324
CY2023Q4 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.05
CY2023 dei Auditor Firm
AuditorFirmId
223
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023 dei Document Type
DocumentType
10-K
CY2023 dei Document Annual Report
DocumentAnnualReport
true
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Transition Report
DocumentTransitionReport
false
CY2023 dei Entity File Number
EntityFileNumber
001-33852
CY2023 dei Entity Registrant Name
EntityRegistrantName
VirnetX Holding Corp
CY2023 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
77-0390628
CY2023 dei Entity Address Address Line1
EntityAddressAddressLine1
308 Dorla Court
CY2023 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 206
CY2023 dei Entity Address City Or Town
EntityAddressCityOrTown
Zephyr Cove
CY2023 dei Entity Address State Or Province
EntityAddressStateOrProvince
NV
CY2023 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
89448
CY2023 dei City Area Code
CityAreaCode
775
CY2023 dei Local Phone Number
LocalPhoneNumber
548-1785
CY2023 dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
CY2023 dei Trading Symbol
TradingSymbol
VHC
CY2023 dei Security Exchange Name
SecurityExchangeName
NYSE
CY2023 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2023 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2023 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023 dei Entity Small Business
EntitySmallBusiness
true
CY2023 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2023 dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
CY2023 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Public Float
EntityPublicFloat
29557799
CY2024Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
3681970
CY2023 dei Auditor Name
AuditorName
Farber Hass Hurley LLP
CY2023 dei Auditor Location
AuditorLocation
Chatsworth, California
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26289000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
27258000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
65462000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
14000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
282000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
224000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
53831000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
152261000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
4014000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
703000
CY2023Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
2500000
CY2022Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
0
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3145000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3618431
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3618431
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3571232
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3571232
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
0
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
0
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
242520000
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
239753000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-186495000
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6406000
CY2023 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
21739000
CY2023 us-gaap Operating Expenses
OperatingExpenses
31452000
CY2022 us-gaap Operating Expenses
OperatingExpenses
22124000
CY2023 us-gaap Interest And Other Income
InterestAndOtherIncome
3495000
CY2022 us-gaap Interest And Other Income
InterestAndOtherIncome
1848000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-27950000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-20228000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-79000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16032000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-27871000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-36260000
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-246000
CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-27569000
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-36506000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
152244000
CY2023 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
20
CY2022 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-27871000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-36260000
CY2023 us-gaap Depreciation
Depreciation
9000
CY2022 us-gaap Depreciation
Depreciation
7000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2778000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3330000
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
15000
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2022 vhc Increase Decrease In Accrued Licensing Costs
IncreaseDecreaseInAccruedLicensingCosts
-355000
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3000
CY2023 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
2500000
CY2022 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0
CY2023 us-gaap Payments Of Dividends
PaymentsOfDividends
71429000
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
0
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-55457000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
142018000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26289000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
86561000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Use of Estimates</div> <div style="text-align: left;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">We prepare our consolidated financial statements in accordance with U.S. GAAP. In doing so, we have to make estimates and assumptions that affect our reported amounts of assets, liabilities, revenues, and expenses, as well as related disclosure of contingent assets and liabilities. In some cases, we could reasonably have used different accounting policies and estimates. In some cases, changes in the accounting estimates are reasonably likely to occur from period to period. Accordingly, actual results could differ materially from our estimates. To the extent that there are material differences between these estimates and actual results, our financial condition or results of operations will be affected. We base our estimates on past experience and other assumptions that we believe are reasonable under the circumstances, and we evaluate these estimates on an ongoing basis. We refer to accounting estimates of this type as critical accounting policies and estimates, which we discuss further below. We have reviewed our critical accounting policies and estimates with the Audit Committee of our Board of Directors.</div>
CY2023 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
0
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Concentration of Credit Risk and Other Risks and Uncertainties</div> <div><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Our cash and cash equivalents are primarily maintained at two major financial institutions in the United States. Deposits held with these financial institutions may exceed the amount of insurance provided on such deposits. A portion of those balances are insured by the Federal Deposit Insurance Corporation, or FDIC. In 2023, we had, at times, funds that were uninsured. We do not believe that we are subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. We have not experienced any losses on our deposits of cash and cash equivalents.</div>
CY2023 vhc Concentration Risk Number Of Financial Institutions
ConcentrationRiskNumberOfFinancialInstitutions
2
CY2023Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.085
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
235000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
171000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
168000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
160000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
67000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11000
CY2023 us-gaap Depreciation
Depreciation
9000
CY2022 us-gaap Depreciation
Depreciation
7000
CY2023Q4 us-gaap Share Price
SharePrice
7
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3006000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-27871000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-36260000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3579
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3565
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3579
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3565
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.79
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-10.17
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.79
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-10.17
CY2023 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
20
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
229000
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
179000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3000
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
3000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-79000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
15920000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-2000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
109000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-81000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
16029000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-79000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16032000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q4 vhc Cash And Available For Sale Securities Amortized Cost Basis
CashAndAvailableForSaleSecuritiesAmortizedCostBasis
152400000
CY2022Q4 vhc Cash And Available For Sale Securities Fair Value Disclosure
CashAndAvailableForSaleSecuritiesFairValueDisclosure
152023000
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0001
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0055
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2031
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.9121
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.0058
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.0944
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.022
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.0122
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0203
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0029
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0028
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.7927
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
65000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
147000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1110000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
430000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
15262000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
11988000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
4360000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
5018000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2382000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
970000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
23179000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
18553000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
23179000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
18553000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
0
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
0
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2023Q4 vhc Capitalized Direct And Indirect Research And Development Costs
CapitalizedDirectAndIndirectResearchAndDevelopmentCosts
8599000
CY2022Q4 vhc Capitalized Direct And Indirect Research And Development Costs
CapitalizedDirectAndIndirectResearchAndDevelopmentCosts
5140000
CY2023 vhc Amortization Of Capitalized Direct And Indirect Research And Development Costs
AmortizationOfCapitalizedDirectAndIndirectResearchAndDevelopmentCosts
1888000
CY2022 vhc Amortization Of Capitalized Direct And Indirect Research And Development Costs
AmortizationOfCapitalizedDirectAndIndirectResearchAndDevelopmentCosts
514000
CY2023Q4 vhc Unamortized Capitalized Direct And Indirect Research And Development Costs
UnamortizedCapitalizedDirectAndIndirectResearchAndDevelopmentCosts
11337000
CY2023Q4 vhc Deferred Tax Assets Capitalized Direct And Indirect Research And Development Costs
DeferredTaxAssetsCapitalizedDirectAndIndirectResearchAndDevelopmentCosts
2381000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023Q4 vhc Cash And Available For Sale Securities Amortized Cost Basis
CashAndAvailableForSaleSecuritiesAmortizedCostBasis
53538000
CY2023Q4 vhc Cash And Available For Sale Securities Fair Value Disclosure
CashAndAvailableForSaleSecuritiesFairValueDisclosure
53547000
CY2023 vhc Operating Lease Period Of Free Rent
OperatingLeasePeriodOfFreeRent
P6M
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001140361-24-013522-index-headers.html Edgar Link pending
0001140361-24-013522-index.html Edgar Link pending
0001140361-24-013522.txt Edgar Link pending
0001140361-24-013522-xbrl.zip Edgar Link pending
ef20015315_10k.htm Edgar Link pending
ef20015315_ex23-1.htm Edgar Link pending
ef20015315_ex31-1.htm Edgar Link pending
ef20015315_ex31-2.htm Edgar Link pending
ef20015315_ex32-1.htm Edgar Link pending
ef20015315_ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
ef20015315_10k_htm.xml Edgar Link completed
image01.jpg Edgar Link pending
image02.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vhc-20231231.xsd Edgar Link pending
vhc-20231231_def.xml Edgar Link unprocessable
vhc-20231231_pre.xml Edgar Link unprocessable
vhc-20231231_cal.xml Edgar Link unprocessable
vhc-20231231_lab.xml Edgar Link unprocessable