15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 164.1% per year over the past 5 years.
Financial health
Total debt ($7M) exceeds cash ($1M); net debt is $6M.
Total debt has grown slower than revenue (20.2% vs 164.1% per year).
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$2M
-$23M
0.0%
-1258.5%
-$20M
$7M
$1M
2024
$1M
-$27M
0.0%
-2190.9%
-$26M
$5M
$3M
2023
$775302
-$36M
0.0%
-4641.8%
-$19M
$5M
$21M
2022
$306392
-$31M
0.0%
-10372.4%
-$17M
$4M
$11M
2021
$90035
-$27M
0.0%
-31469.0%
-$22M
$3M
$21M
2021
—
$122M
—
—
—
$3M
$28M
2021
—
-$116M
—
—
—
$3M
—
2020
$13433
-$20M
0.0%
-158176.2%
-$18M
$3M
$19M
2020
—
-$96M
—
—
—
$3M
—
2019
$17096
-$16M
0.0%
-93840.2%
-$13M
$3M
—
2019
—
-$86M
—
—
—
$2M
—
2019
—
-$82M
—
—
—
$3M
—
2019
—
-$78M
—
—
—
$2M
—
2018
—
-$18M
—
—
-$14M
$3M
—
2018
—
-$69M
—
—
—
$2M
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$985076
-$7M
0.0%
-543.0%
-$5M
$7M
$3M
Dec '25
$447034
-$6M
0.0%
-1077.9%
-$6M
$7M
$1M
Sep '25
$627277
-$5M
0.0%
-813.2%
-$4M
$6M
$199407
Jun '25
$406688
-$6M
0.0%
-1548.6%
-$6M
$7M
$2M
Mar '25
$246385
-$5M
0.0%
-2241.1%
-$4M
$6M
$3M
Dec '24
$191657
-$6M
0.0%
-3016.5%
-$6M
$5M
$3M
Sep '24
$474522
-$6M
0.0%
-1236.8%
-$6M
$5M
$5M
Jun '24
$395797
-$7M
0.0%
-1766.2%
-$7M
$5M
$6M
Mar '24
$171535
-$8M
0.0%
-4887.9%
-$8M
$5M
$12M
Dec '23
$243973
-$9M
0.0%
-3582.6%
$6M
$5M
$21M
Sep '23
$165211
-$8M
0.0%
-5237.6%
-$9M
$3M
$11M
Jun '23
$216310
-$10M
0.0%
-4414.5%
-$8M
$4M
$20M
Mar '23
$149808
-$9M
0.0%
-6037.7%
-$9M
$4M
$10M
Dec '22
$119715
-$7M
0.0%
-6691.4%
-$6M
$4M
$11M
Sep '22
$32714
-$8M
0.0%
-24432.8%
-$7M
$3M
$16M
Jun '22
$39752
-$8M
0.0%
-20375.0%
-$7M
$3M
$17M
Mar '22
$114211
-$8M
0.0%
-6721.7%
$3M
$3M
$24M
Dec '21
$14240
-$8M
0.0%
-61692.6%
-$5M
$3M
$21M
Sep '21
$25483
-$7M
0.0%
-29675.8%
-$5M
$3M
$23M
Jun '21
$24782
-$6M
0.0%
-23810.3%
-$6M
$3M
$28M
Valuation over time
How the market has priced VNRX against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has fallen from 51.4× (Mar '23) to 6.3× (Jun '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is VNRX growing its revenue and profit?
Over the past 5 years, VOLITIONRX LTD's revenue has grown 164.1% per year. These are computed facts, not advice.
How much debt does VNRX have?
As of FY2025, VOLITIONRX LTD reported $7M of total debt against $1M of cash.
What is VNRX's profit margin?
In FY2025, gross margin was —, operating margin -1258.5%, and net margin -1352.2%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.