VolitionRx Limited (VNRX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
VolitionRx Limited (VNRX) stock price & volume — 10-year historical chart
VolitionRx Limited (VNRX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
VolitionRx Limited (VNRX) competitors in Molecular and Genetic Diagnostics — business model, growth, and fundamentals comparison
VolitionRx Limited (VNRX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
VolitionRx Limited (VNRX) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 17.1K | 13.43K | 90.03K | 306.39K | 775.3K | 1.23M | 1.73M |
| Revenue Growth % | - | - | - | -21.43% | 570.25% | 240.3% | 153.04% | 59.1% | 40.04% |
| Cost of Goods Sold | 542.48K | 639.92K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | -542.48K▲ 0% | -639.92K▼ 18.0% | 17.1K▲ 102.7% | 13.43K▼ 21.4% | 90.03K▲ 570.3% | 306.39K▲ 240.3% | 775.3K▲ 153.0% | 1.23M▲ 59.1% | 1.73M▲ 40.0% |
| Gross Margin % | - | - | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Gross Profit Growth % | -75.33% | -17.96% | 102.67% | -21.43% | 570.25% | 240.3% | 153.04% | 59.1% | 40.04% |
| Operating Expenses | 15.05M | 17.9M | 16.06M | 21.26M | 28.42M | 32.09M | 36.76M | 28.26M | 22.95M |
| OpEx % of Revenue | - | - | 93940.22% | 158276.25% | 31568.96% | 10472.36% | 4741.76% | 2290.9% | 1328.57% |
| Selling, General & Admin | 6.13M | 6.95M | 5.49M | 6.54M | 14.83M | 16.4M | 16.92M | 13.64M | 13.38M |
| SG&A % of Revenue | - | - | 32083.77% | 48682.74% | 16467.28% | 5354.14% | 2182.3% | 1105.75% | 774.85% |
| Research & Development | 8.91M | 10.91M | 10.36M | 14.53M | 13.02M | 15.33M | 19.55M | 14.41M | 10.08M |
| R&D % of Revenue | - | - | 60618% | 108195.21% | 14463.72% | 5004.37% | 2521.79% | 1167.93% | 583.62% |
| Other Operating Expenses | 349.84K | 37.23K | 211.73K | 187.83K | 574.39K | 348.81K | 292.05K | 212.43K | -516.51K |
| Operating Income | -15.05M▲ 0% | -17.9M▼ 19.0% | -16.04M▲ 10.4% | -21.25M▼ 32.4% | -28.33M▼ 33.3% | -31.78M▼ 12.2% | -35.99M▼ 13.2% | -27.02M▲ 24.9% | -21.22M▲ 21.5% |
| Operating Margin % | - | - | -93840.22% | -158176.25% | -31468.96% | -10372.36% | -4641.76% | -2190.9% | -1228.57% |
| Operating Income Growth % | -22.66% | -18.95% | 10.36% | -32.44% | -33.35% | -12.17% | -13.24% | 24.91% | 21.47% |
| EBITDA | -14.5M | -17.26M | -15.14M | -20.21M | -27.19M | -30.59M | -34.57M | -25.69M | -20.01M |
| EBITDA Margin % | - | - | -88561.72% | -150423.9% | -30197.06% | -9983.98% | -4459.48% | -2082.35% | -1158.15% |
| EBITDA Growth % | -21.29% | -18.99% | 12.27% | -33.46% | -34.55% | -12.51% | -13.02% | 25.71% | 22.11% |
| D&A (Non-Cash Add-back) | 542.48K | 639.92K | 902.41K | 1.04M | 1.15M | 1.19M | 1.41M | 1.34M | 1.22M |
| EBIT | -14.7M | -17.9M | -15.97M | -20.27M | -26.83M | -30.43M | -35.46M | -26.92M | -21.01M |
| Net Interest Income | 0 | 0 | -14.21K | -80.3K | -153.07K | -47.82K | -128.3K | -330.42K | -2.49M |
| Interest Income | 0 | 0 | 112.37K | 49.49K | 2.73K | 125.27K | 93.32K | 9.95K | 600 |
| Interest Expense | 73.13K | 110.92K | 126.57K | 129.8K | 155.8K | 173.09K | 221.62K | 340.36K | 2.49M |
| Other Income/Expense | -73.13K | -110.92K | -56.13K | 848.52K | 1.34M | 1.18M | 310.62K | -233.01K | -2.28M |
| Pretax Income | -14.77M▲ 0% | -18.01M▼ 21.9% | -16.1M▲ 10.6% | -20.4M▼ 26.7% | -26.99M▼ 32.3% | -30.6M▼ 13.4% | -35.68M▼ 16.6% | -27.26M▲ 23.6% | -23.5M▲ 13.8% |
| Pretax Margin % | - | - | -94168.55% | -151859.55% | -29976.99% | -9986.71% | -4601.7% | -2209.79% | -1360.63% |
| Income Tax | -276.71K | 110.92K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 1.87% | -0.62% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -14.77M▲ 0% | -18.01M▼ 21.9% | -16.1M▲ 10.6% | -20.35M▼ 26.4% | -26.81M▼ 31.8% | -30.27M▼ 12.9% | -35.32M▼ 16.7% | -26.97M▲ 23.6% | -23.36M▲ 13.4% |
| Net Margin % | - | - | -94168.55% | -151508.34% | -29782.49% | -9879.11% | -4555.53% | -2186.27% | -1352.16% |
| Net Income Growth % | -24.06% | -21.93% | 10.6% | -26.42% | -31.75% | -12.88% | -16.68% | 23.65% | 13.39% |
| Net Income (Continuing) | -14.77M | -18.01M | -16.1M | -20.4M | -26.99M | -30.6M | -35.68M | -27.26M | -23.5M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | -47.18K | -222.29K | -551.97K | -909.97K | -1.2M | -1.35M |
| EPS (Diluted) | -11.20▲ 0% | -11.40▼ 1.8% | -8.20▲ 28.1% | -9.00▼ 9.8% | -10.20▼ 13.3% | -11.00▼ 7.8% | -10.00▲ 9.1% | -6.20▲ 38.0% | -4.40▲ 29.0% |
| EPS Growth % | -7.69% | -1.79% | 28.07% | -9.76% | -13.33% | -7.84% | 9.09% | 38% | 29.03% |
| EPS (Basic) | -11.20 | -11.40 | -8.20 | -9.00 | -10.20 | -11.00 | -10.00 | -6.20 | -4.40 |
| Diluted Shares Outstanding | 1.32M | 1.57M | 1.96M | 2.26M | 2.63M | 2.77M | 3.56M | 4.33M | 5.34M |
| Basic Shares Outstanding | 1.32M | 1.57M | 1.96M | 2.26M | 2.63M | 2.77M | 3.56M | 4.33M | 5.34M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
VolitionRx Limited (VNRX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 10.57M | 13.9M | 17.56M | 20.33M | 21.98M | 12.17M | 21.85M | 4.06M | 2.06M |
| Cash & Short-Term Investments | 10.12M | 13.43M | 16.97M | 19.44M | 20.58M | 10.87M | 20.73M | 3.26M | 1.12M |
| Cash Only | 10.12M | 13.43M | 16.97M | 19.44M | 20.58M | 10.87M | 20.73M | 3.26M | 1.12M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 7.12K | 12.51K | 72.61K | 242.62K | 110.57K | 317.81K |
| Days Sales Outstanding | - | - | - | 193.41 | 50.72 | 86.5 | 114.22 | 32.72 | 67.15 |
| Inventory | 0 | 0 | 0 | 0 | 598.37K | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 202.29K | 229.75K | 322.59K | 576.66K | 786.64K | 447.57K | 360.13K | 343.14K | 626.09K |
| Total Non-Current Assets | 4.06M | 3.59M | 3.74M | 5.82M | 5.51M | 6.12M | 6.1M | 5.34M | 4.84M |
| Property, Plant & Equipment | 3.48M | 3.12M | 3.36M | 5.5M | 5.29M | 6.01M | 6.07M | 5.03M | 4.52M |
| Fixed Asset Turnover | - | - | 0.01x | 0.00x | 0.02x | 0.05x | 0.13x | 0.25x | 0.38x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 576.4K | 466.9K | 372.31K | 321.64K | 216.88K | 110.5K | 23.89K | 313.75K | 316.7K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 14.62M▲ 0% | 17.49M▲ 19.6% | 21.29M▲ 21.7% | 26.15M▲ 22.8% | 27.49M▲ 5.1% | 18.3M▼ 33.4% | 27.95M▲ 52.8% | 9.4M▼ 66.4% | 6.9M▼ 26.6% |
| Asset Turnover | - | - | 0.00x | 0.00x | 0.00x | 0.02x | 0.03x | 0.13x | 0.25x |
| Asset Growth % | -40.87% | 19.59% | 21.74% | 22.82% | 5.12% | -33.45% | 52.78% | -66.37% | -26.58% |
| Total Current Liabilities | 2.29M | 2.33M | 3.86M | 6.24M | 6.52M | 17.39M | 8.94M | 7.79M | 12.23M |
| Accounts Payable | 351.74K | 807.16K | 627.25K | 1.54M | 1.54M | 3.04M | 3.21M | 2.77M | 2.92M |
| Days Payables Outstanding | 236.66 | 460.39 | - | - | - | - | - | - | - |
| Short-Term Debt | 582.99K | 561.7K | 647.57K | 841.32K | 797.86K | 1.07M | 1.21M | 860.22K | 3.31M |
| Deferred Revenue (Current) | 0 | 40.09K | 39.3K | 69.22K | 12.51K | 10M | 106.6K | 230K | 353.85K |
| Other Current Liabilities | -139.08K | -145.15K | -39.3K | -69.22K | 0 | 0 | 126.65K | 97.89K | 5.15M |
| Current Ratio | 4.61x | 5.96x | 4.55x | 3.26x | 3.37x | 0.70x | 2.44x | 0.52x | 0.17x |
| Quick Ratio | 4.61x | 5.96x | 4.55x | 3.26x | 3.28x | 0.70x | 2.44x | 0.52x | 0.17x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 2.38M | 3.02M | 3.23M | 3.62M | 3.25M | 4.04M | 27.72M | 27.72M | 30.26M |
| Long-Term Debt | 1.31M | 2.7M | 2.2M | 2.61M | 2.27M | 2.78M | 3.62M | 3.95M | 7.26M |
| Capital Lease Obligations | 874.68K | 720.01K | 739.58K | 753.79K | 728.39K | 836.22K | 778.08K | 739.02K | 594.42K |
| Deferred Tax Liabilities | -188.58K | -311.04K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | -408.97K | 0 | 0 | 253.22K | 420.47K | 422.71K | 361.24K | 473.65K |
| Total Liabilities | 4.67M | 5.35M | 7.09M | 9.86M | 9.77M | 21.42M | 36.66M | 35.51M | 42.49M |
| Total Debt | 2.77M | 3.27M | 3.94M | 4.44M | 4.02M | 4.97M | 5.86M | 5.82M | 11.46M |
| Net Debt | -7.35M | -10.16M | -13.03M | -15M | -16.56M | -5.89M | -14.87M | 2.56M | 10.35M |
| Debt / Equity | 0.28x | 0.27x | 0.28x | 0.27x | 0.23x | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -200.95x | -161.35x | -126.19x | -156.16x | -172.23x | -175.78x | -159.98x | -79.09x | -8.44x |
| Total Equity | 9.96M▲ 0% | 12.14M▲ 21.9% | 14.2M▲ 17.0% | 16.29M▲ 14.8% | 17.72M▲ 8.8% | -3.13M▼ 117.6% | -8.71M▼ 178.6% | -26.11M▼ 199.7% | -35.59M▼ 36.3% |
| Equity Growth % | -52.97% | 21.92% | 16.95% | 14.76% | 8.77% | -117.64% | -178.62% | -199.67% | -36.33% |
| Book Value per Share | 7.55 | 7.74 | 7.25 | 7.20 | 6.73 | -1.13 | -2.45 | -6.03 | -6.66 |
| Total Shareholders' Equity | 9.96M | 12.14M | 14.2M | 16.34M | 17.94M | -2.57M | -7.8M | -24.91M | -34.25M |
| Common Stock | 26.52K | 35.34K | 41.13K | 48.61K | 53.77K | 57.87K | 81.9K | 96.1K | 125.78K |
| Retained Earnings | -55.71M | -73.72M | -89.82M | -110.17M | -136.99M | -167.26M | -202.58M | -229.54M | -252.9M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -129.34K | 223.65K | 125.67K | -59.98K | 148.33K | 227.1K | 243.94K | 385.63K | -295.07K |
| Minority Interest | 0 | 0 | 0 | -47.18K | -222.29K | -551.97K | -909.97K | -1.2M | -1.35M |
VolitionRx Limited (VNRX) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -12.19M | -14.73M | -12.74M | -16.46M | -20.85M | -15.28M | -18.06M | -25.89M | -19.68M |
| Operating CF Margin % | - | - | -74517.17% | -122565.65% | -23162.01% | -4986.34% | -2329.8% | -2099.18% | -1139.49% |
| Operating CF Growth % | -34.65% | -20.83% | 13.53% | -29.24% | -26.66% | 26.74% | -18.23% | -43.35% | 23.98% |
| Net Income | -14.77M | -18.01M | -16.1M | -20.4M | -26.99M | -30.6M | -35.68M | -27.26M | -23.36M |
| Depreciation & Amortization | 528.17K | 636.38K | 902.41K | 1.04M | 1.15M | 1.19M | 1.41M | 1.34M | 1.22M |
| Stock-Based Compensation | 2.44M | 2.57M | 1.46M | 1.73M | 5.12M | 3.11M | 2.29M | 1.27M | 1.74M |
| Deferred Taxes | 38.94K | 403 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 54.51K | 22.78K | 205.46K | -293.31K | 26.17K | 0 | -224.47K | 5.97K | 1.6M |
| Working Capital Changes | -480.74K | 45.94K | 793.12K | 1.46M | -156.11K | 11.02M | 14.14M | -1.25M | -885.8K |
| Change in Receivables | 0 | 0 | 0 | -7.12K | -12.51K | -72.61K | -169.67K | 132.04K | -207.23K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -339.66K | 65.84K | 1.11M | 2.05M | 522.22K | 548.61K | 1.22M | -1.22M | 77.98K |
| Cash from Investing | -1.43M | -301.81K | -511.27K | -1.65M | -973.56K | -1.57M | -1.08M | -573.85K | -89.56K |
| Capital Expenditures | -1.43M | -301.81K | -511.27K | -1.94M | -973.56K | -1.57M | -1.08M | -277.5K | -89.56K |
| CapEx % of Revenue | - | - | 2990.56% | 14449.94% | 1081.31% | 512.47% | 139.78% | 22.5% | 5.18% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 293.31K | 0 | 0 | 0 | -296.35K | 0 |
| Cash from Financing | 1.97M | 17.97M | 16.93M | 20.62M | 22.86M | 6.94M | 28.98M | 8.66M | 17.09M |
| Debt Issued (Net) | 1.01M | 585.54K | 344.99K | -296.34K | -221.51K | 209.28K | 827.08K | 233.23K | 6.02M |
| Equity Issued (Net) | 998.41K | 17.25M | 16.59M | 21.14M | 23.22M | 6.74M | 28.36M | 8.59M | 11.17M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -54.43K | 0 | 0 | -31.77K | 0 | 0 |
| Other Financing | -45.42K | 136.2K | -6.54K | -224.92K | -140.58K | -7.69K | -200.66K | -168.15K | -98.99K |
| Net Change in Cash | -11.56M▲ 0% | 3.31M▲ 128.6% | 3.54M▲ 6.9% | 2.48M▼ 30.0% | 1.14M▼ 54.1% | -9.71M▼ 954.7% | 9.86M▲ 201.5% | -17.47M▼ 277.1% | -2.15M▲ 87.7% |
| Free Cash Flow | -13.62M▲ 0% | -15.03M▼ 10.4% | -13.25M▲ 11.9% | -18.41M▼ 38.9% | -21.83M▼ 18.6% | -16.85M▲ 22.8% | -19.15M▼ 13.6% | -26.47M▼ 38.2% | -19.77M▲ 25.3% |
| FCF Margin % | - | - | -77507.73% | -137015.59% | -24243.33% | -5498.81% | -2469.59% | -2145.7% | -1144.67% |
| FCF Growth % | -43.79% | -10.4% | 11.87% | -38.9% | -18.59% | 22.81% | -13.64% | -38.23% | 25.29% |
| FCF per Share | -10.32 | -9.58 | -6.76 | -8.13 | -8.29 | -6.09 | -5.38 | -6.12 | -3.70 |
| FCF Conversion (FCF/Net Income) | 0.83x | 0.82x | 0.79x | 0.81x | 0.78x | 0.50x | 0.51x | 0.96x | 0.84x |
| Interest Paid | 73.13K | 110.92K | 126.85K | 129.8K | 155.8K | 173.11K | 221.62K | 340.36K | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
VolitionRx Limited (VNRX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -87.48% | -94.88% | -162.99% | -122.24% | -133.49% | -157.66% | -414.78% | - | - | - |
| Return on Invested Capital (ROIC) | -1245.43% | -630.42% | -584.73% | -764.14% | -1295.31% | -1735.77% | - | - | - | - |
| Gross Margin | - | - | - | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Net Margin | - | - | - | -94168.55% | -151508.34% | -29782.49% | -9879.11% | -4555.53% | -2186.27% | -1352.16% |
| Debt / Equity | 0.07x | 0.28x | 0.27x | 0.28x | 0.27x | 0.23x | - | - | - | - |
| Interest Coverage | - | -200.95x | -161.35x | -126.19x | -156.16x | -172.23x | -175.78x | -159.98x | -79.09x | -8.44x |
| FCF Conversion | 0.76x | 0.83x | 0.82x | 0.79x | 0.81x | 0.78x | 0.50x | 0.51x | 0.96x | 0.84x |
| Revenue Growth | - | - | - | - | -21.43% | 570.25% | 240.3% | 153.04% | 59.1% | 40.04% |
VolitionRx Limited (VNRX) stock FAQ — growth, dividends, profitability & financials explained
VolitionRx Limited (VNRX) reported $1.7M in revenue for fiscal year 2025.
VolitionRx Limited (VNRX) grew revenue by 40.0% over the past year. This is strong growth.
VolitionRx Limited (VNRX) reported a net loss of $23.4M for fiscal year 2025.
VolitionRx Limited (VNRX) had negative free cash flow of $19.6M in fiscal year 2025, likely due to heavy capital investments.
VolitionRx Limited (VNRX) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates