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VolitionRX Limited

VNRX Healthcare Medical Devices

VolitionRX Limited’s revenue for fiscal 2025 (year ended December 2025) was $1.7 million, up 40.0% from fiscal 2024.

Revenue
−1.97%
EPS
+29.2%
Free cash flow
+18.6%
Total debt
+7.56%

Quarter to June 2026, against a year earlier

0.20 0.01 +5.26%
Market cap
$5.3M
P/E
0.0×
Fwd P/E
−0.1×
Dividend yield
—
F-score
2/9
Altman Z
−62.83
Beneish M
−4.07
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 5.28
Revenue ttm 2.46
Net income ttm (25.73)
Free cash flow ttm (19.58)
Net debt Q 8.20
Valuation
P/E 0.00
Forward P/E (0.10) (negative: loss-making)
Price / sales 0.74
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 0.30 (below 1: weak)
Debt / equity Q (0.33) (negative: negative equity)
Interest coverage Q (5.61)
Growth
Revenue growth Q −1.97% (below 0%: shrinking)
Operating income growth Q +34.01% (above 0%: growing)
EPS, this year +55.97% (at or above 15%: strong)
EPS, next year A +62.15% (at or above 15%: strong)
Revenue, next year A +57.69% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +57.20% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.1×, against a ten-year median of 846×; over the ten years it ranged from 4.1× in 2026 to 14,429× in 2021.
P/S against its own 10 years 0.70%
10-year low 10-year high
EV/Sales against its own 10 years 0.70%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 21 3 1 3
Receivables 0 0 0 0
Inventory — — — —
Other 0 0 0 0
22 4 2 4
2023 2024 2025 Q'26
Payables 3 3 3 4
ST’ Debt 1 1 3 4
Other 0 0 1 2
9 8 12 13

Compound Annual Growth %

10y 5y 3y
Sales — 164.28% 77.98%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.68 Actual −0.78

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.80 −0.80 Met by 0.00
Q4 FY25 −0.80 −1.00 Miss by 0.20
Q1 FY26 −0.70 −0.82 Miss by 0.12
Q2 FY26 −0.68 −0.78 Miss by 0.10
Q3 FY26 −0.35 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.97) (0.85) — — —
’25 (1.12) (1.20) (1.00) (1.00) (4.40)
’24 (2.00) (1.60) (1.40) (1.20) (6.20)
’23 (3.00) (2.80) (2.20) (2.20) (10.00)
’22 (2.80) (2.80) (2.80) (2.60) (11.00)
’21 (2.40) (2.00) (2.60) (3.00) (10.20)
’20 (2.80) (2.40) (1.80) (2.20) (9.00)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1 0 — — —
’25 0 0 1 0 2
’24 0 0 0 0 1
’23 0 0 0 0 1
’22 0 0 0 0 0
’21 0 0 0 0 0
’20 0 0 0 0 0
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (5) (5) — — —
’25 (4) (6) (4) (5) (20)
’24 (8) (7) (5) (5) (26)
’23 (9) (7) (8) 6 (18)
’22 4 (6) (7) (6) (15)
’21 (6) (5) (5) (4) (21)
’20 (5) (4) (4) (3) (16)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (5) (5) — — —
’25 (4) (6) (4) (6) (20)
’24 (8) (7) (6) (6) (26)
’23 (9) (8) (9) 6 (19)
’22 3 (7) (7) (6) (17)
’21 (7) (6) (5) (5) (22)
’20 (5) (5) (4) (4) (18)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 0 0 0 0 1 1 2 2 +115.8% 3 9 25 +144.2%
Gross margin, % 0.00 0.00 0.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 +100.0 pt
EBT (12) (15) (18) (16) (20) (27) (31) (36) (27) (24) (26) +7.9%
EBT margin, % 0.00 0.00 0.00 (94,146.78) (152,233.58) (29,988.67) (9,986.46) (4,601.72) (2,209.81) (1,360.62) (1,046.80) (1,360.6) pt
Net income (12) (15) (18) (16) (20) (27) (31) (36) (27) (24) (26) +7.9%
Per share, $
Per share, $ Revenue 0.00 0.00 0.00 0.01 0.01 0.03 0.11 0.22 0.29 0.32 0.27 n/m
Earnings (10.40) (11.20) (11.40) (8.20) (9.00) (10.20) (11.00) (10.00) (6.20) (4.40) (3.82) (9.1%)
Cash flow (7.69) (9.24) (9.39) (6.50) (7.27) (7.92) (5.52) (5.07) (5.98) (3.68) (2.14) (7.9%)
Capex (0.36) (1.08) (0.19) (0.26) (0.73) (0.37) (0.57) (0.30) (0.13) (0.02) 0.00 (28.9%)
Free cash flow (8.05) (10.32) (9.58) (6.76) (8.00) (8.29) (6.09) (5.38) (6.12) (3.70) (2.14) (8.3%)
Book value 18.37 7.55 7.74 7.25 7.20 6.73 (1.13) (2.45) (6.03) (6.66) (3.66) n/m
Shares, m 1 1 2 2 2 3 3 4 4 5 7 +18.6%
Valuation, ×
Valuation, × P/E — — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S — — — 2,649.26 13,144.72 1,837.11 431.74 96.47 42.09 15.80 0.74 2,602.5
P/B — — — 13.08 10.81 9.33 0.00 0.00 0.00 0.00 0.00 4.7
EV/Sales — — — 2,456.46 11,995.87 1,648.20 410.25 76.48 43.61 21.46 4.08 2,378.9
EV/FCF — — — (12.94) (8.85) (6.78) (7.44) (3.09) (2.03) (1.85) (0.50) (6.1)
Cash, $m
Cash, $m Operating cash flow (9) (12) (15) (13) (16) (21) (15) (18) (26) (20) (20) +9.3%
Capex 0 (1) 0 (1) (2) (1) (2) (1) (1) 0 0 (15.7%)
Free cash flow (9) (14) (15) (13) (18) (22) (17) (19) (26) (20) (20) +8.8%
Balance, $m
Balance, $m Working capital 20 8 12 14 14 15 (5) 13 (4) (10) (9) n/m
Net debt (20) (7) (10) (14) (15) (17) (7) (15) 2 10 8 n/m
Shareholders’ equity 21 10 12 14 16 18 (3) (9) (26) (36) (34) n/m
Returns, %
Returns, % ROA (73.39) (75.05) (112.16) (83.03) (85.80) (99.98) (132.22) (152.75) (144.41) (286.58) (301.54) (213.2) pt
ROIC (915.17) (371.41) (609.86) (1,468.05) (1,476.85) (2,457.42) 0.00 0.00 0.00 0.00 0.00 +915.2 pt
ROE (87.48) (94.88) (162.99) (122.24) (133.49) (157.66) (414.78) 596.65 154.90 75.71 76.95 +163.2 pt
People
People Employees 22 37 44 50 65 83 104 110 85 75 — +14.6%
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.02 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

VolitionRX Limited vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BMRA Biomerica, Inc. $7.4M — (loss-making) 11.4× −8.33% (below 0%: shrinking) n/m −199.25% (below 0%: shrinking) 8.14% (97.00%) Compare
INBS Intelligent Bio Solutions Inc. $5.8M — (loss-making) — (loss-making) +51.10% (above 0%: growing) n/m −31.59% (below 0%: shrinking) 43.23% (360.19%) Compare
TBIO Telesis Bio Inc. $5.3M — (loss-making) — (loss-making) −71.85% (below 0%: shrinking) n/m −17.96% (below 0%: shrinking) 64.43% (349.74%) Compare
VNRX VolitionRX Limited $5.3M — (loss-making) — (loss-making) −1.97% (below 0%: shrinking) n/m +18.58% (above 0%: growing) 100.00% (1,042.39%)
BDMD Baird Medical Investment Holdings Limited $5.0M — (loss-making) — — n/m −598.12% (below 0%: shrinking) — — Compare
NVNO enVVeno Medical Corporation $4.8M — (loss-making) — (loss-making) +0.32% (above 0%: growing) n/m +27.64% (above 0%: growing) 0.00% 0.00% Compare
TNON Tenon Medical, Inc. $4.4M — (loss-making) — (loss-making) +126.77% (above 0%: growing) n/m −21.78% (below 0%: shrinking) 63.64% (262.24%) Compare
WOK WORK Medical Technology Group LTD $4.1M — — — — −948.94% (below 0%: shrinking) — — Compare
TRIB Trinity Biotech PLC $3.8M — (loss-making) — (loss-making) +43.28% (above 0%: growing) n/m +75.24% (above 0%: growing) 35.43% (24.53%) Compare
Median of peers $4.9M — — +21.80% — −26.69% 39.33% (179.62%)

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 2 June 2026

Ownership

Directors and executive officers, together 6.90%
Lagoda Investment Management, L.P. 9.80%
Eight Corporation Limited 7.00%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

VolitionRX Limited (VNRX) Latest News

27 Oct

Impact 4 · · PR Newswire
Impact 4 · · PR Newswire

17 Sep

Impact 3 ·

14 Sep

Impact 3 ·
Impact 3 ·
Impact 3 ·

10 Sep

Impact 3 ·

27 Aug

Impact 3 ·

26 Aug

Impact 4 ·
Impact 4 ·

20 Aug

Impact 3 · · The Motley Fool transcript

14 Aug

Impact 3 · · Moby transcript

13 Aug

Impact 3 ·

12 Aug

Impact 4 ·

5 Aug

Impact 4 ·

30 Jul

Impact 4 ·

11 Jul

Impact 3 ·

7 Jul

Impact 3 ·

17 Jun

Impact 3 ·

3 Jun

Impact 3 · · PR Newswire

27 May

Impact 4 · · PR Newswire

15 May

Impact 4 · · GuruFocus.com
Impact 4 · · Moby transcript

14 May

Impact 4 · · PR Newswire

29 Apr

Impact 4 · · PR Newswire

27 Apr

Impact 3 · · Zacks Small Cap Research

23 Apr

Impact 4 · · PR Newswire

20 Apr

Impact 4 ·

2 Apr

Impact 4 · · GuruFocus.com

1 Apr

Impact 3 · · Moby
stockrow.com/VNRX · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com