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VolitionRX Ltd. (VNRX)
:VNRX
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VolitionRX
(NYSE MKT:VNRX)
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Rating:47Neutral
Price Target:
$0.50
▼(-26.47% Downside)
The overall stock score is primarily impacted by the company's weak financial performance, which is the most significant factor. Technical analysis provides some positive signals, but the valuation remains unattractive due to negative earnings. The earnings call offered some positive developments, but concerns about cash reserves and revenue predictability persist.
Positive Factors
Revenue Growth
The 15% revenue growth in the first half of 2025 indicates strong market demand and successful commercialization efforts, supporting long-term business expansion.
Cost Reduction
The reduction in operating expenses reflects improved operational efficiency, which can enhance profitability and provide a more sustainable financial position.
Product Development
Achieving first revenue from Nu.Q NETs sales marks a critical milestone in product development, indicating successful market entry and potential for future growth.
Negative Factors
Financial Instability
Negative equity and financial instability can hinder the company's ability to secure financing and invest in growth, posing long-term risks.
Cash Flow Issues
Ongoing negative cash flows suggest challenges in sustaining operations without external funding, impacting long-term viability.
Uncertain Revenue Projections
Unpredictable revenue streams create uncertainty in financial planning and can affect investor confidence and strategic decision-making.
VolitionRX (VNRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$73.16M
Dividend YieldN/A
Average Volume (3M)208.88K
Price to Earnings (P/E)―
Beta (1Y)0.38
Revenue Growth35.10%
EPS Growth39.15%
CountryUS
Employees85
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-0.06
Shares Outstanding107,595,420
10 Day Avg. Volume233,085
30 Day Avg. Volume208,879
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.17
Enterprise Value/Revenue64.75
Enterprise Value/Gross Profit64.75
Enterprise Value/Ebitda-3.98
Forecast
1Y Price Target
$1.50Price Target Upside120.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
VolitionRX Business Overview & Revenue Model
Company DescriptionVolitionRx Limited, a multi-national epigenetics company, engages in the development of blood tests to help diagnose a range of cancers and other diseases worldwide. It sells Nu.Q that detect cancer; Nu.Q Nets, monitoring the immune system; Nu.Q Vet cancer screening test for veterinary applications; Nu.Q Capture capturing and concentrating samples for more accurate diagnosis; and Nu.Q Discover, a solution to profiling nucleosomes. The company operates Nucleosomics a technology platform for blood test. VolitionRx Limited is based in Austin, Texas.
How the Company Makes MoneyVolitionRx generates revenue primarily through the sale of its diagnostic tests and services. The company is working on commercializing its tests, which are intended for use in a variety of cancer types, including colorectal cancer. Key revenue streams include partnerships with laboratories and healthcare providers that utilize VolitionRx's tests in their diagnostic offerings. Additionally, the company may generate revenue through collaborations with pharmaceutical companies for research and development purposes, as well as potential licensing agreements. Significant partnerships with established medical institutions and ongoing clinical trials further enhance its revenue potential.
VolitionRX Earnings Call Summary
Earnings Call Date:Aug 14, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 13, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in cost reduction, revenue increase, and new product sales, alongside promising clinical study results. There was also strong progress in licensing and partnerships. However, concerns about uncertain revenue projections and decreasing cash reserves were noted.Q2-2025 Updates
Positive Updates
Significant Reduction in Operating Costs
Total operating expenses for Q2 declined by 9% compared to Q2 2024, with a 22% reduction in total operating costs for the first half of 2025.
Increased Revenue and First Human Product Sales
Revenue increased by 15% in the first half of 2025, and the company recorded its first revenue from sales of the human product, Nu.Q NETs.
Promising Clinical Study Results
Interim analysis of 832 patients showed Nu.Q H3K27 trimethyl as a strong prognostic marker in non-small cell lung cancer.
Strong Licensing and Partnership Progress
Confidential discussions with over 10 companies with a combined market value exceeding $600 billion, aiming to secure multiple licensing agreements.
Expansion of Nu.Q Vet Product
FujiFilm Vet Systems extended their contract to implement a centralized automated platform for the Nu.Q Vet Cancer Test.
Negative Updates
Uncertain Revenue Projections
Revenues remain lumpy and difficult to predict, with no revenue guidance provided for 2025.
Cash Reserves Decrease
Cash and cash equivalents decreased to approximately $2.3 million at the end of Q2 2025, down from $3.3 million at the end of 2024.
Company Guidance
During VolitionRx Limited's Second Quarter 2025 Earnings Conference Call, the company provided updates on several key financial and operational metrics. The total operating expenses for Q2 2025 declined by 9% compared to the same period in 2024, primarily due to reduced personnel and R&D costs. Consequently, net cash used in operating activities decreased to $6.3 million from $6.7 million year-over-year. For the first half of 2025, net cash used in operations totaled $10.6 million, marking a 30% reduction from the prior year. Revenue for the quarter exceeded $400,000, contributing to a first-half total of over $650,000, reflecting a 15% increase. The company reported its first revenue from Nu.Q NETs human product sales, marking a significant milestone. Cash and cash equivalents at the end of the quarter stood at approximately $2.3 million, down from $3.3 million at the end of 2024. Additionally, the company received $6 million from a convertible loan note during the quarter and $1.2 million from a registered direct offering afterward.VolitionRX Financial Statement Overview
Summary
VolitionRX is experiencing significant financial difficulties across all major financial statements. The income statement shows persistent losses despite modest revenue growth. The balance sheet highlights critical solvency issues with negative equity and high liabilities. Lastly, the cash flow statement indicates a heavy reliance on financing to maintain liquidity. These factors collectively suggest a high-risk financial profile, necessitating strategic improvements in revenue generation and cost management to stabilize the company's finances.Income Statement
VolitionRX's income statement reveals a challenging financial position with consistent net losses. The gross profit margin remains positive at 100% due to low revenue, while net profit margins are significantly negative due to large operating expenses. The revenue growth shows a positive trajectory, increasing by approximately 6.1% in the TTM, yet the company struggles with substantial negative EBIT and EBITDA margins, indicating high operational costs relative to revenue.30
Negative
Balance Sheet
The balance sheet presents a precarious financial situation with negative stockholders' equity, suggesting the company is heavily leveraged. The debt-to-equity ratio cannot be calculated due to negative equity, but this signifies high financial risk. Total liabilities significantly exceed total assets, indicating potential solvency issues. The low equity ratio further supports the company's weak financial position.25
Negative
Cash Flow
Cash flow analysis shows VolitionRX faces substantial negative free cash flow, although free cash flow did improve slightly from the previous year. The operating cash flow remains negative, indicating insufficient cash generation from operations to cover expenses. Financing activities have been a primary source of cash, suggesting dependency on external funding to sustain operations.35
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.32M | 1.23M | 775.30K | 306.39K | 90.03K | 13.43K |
| Gross Profit | 1.32M | 1.23M | 775.30K | -882.03K | 90.03K | 13.43K |
| EBITDA | -21.48M | -25.62M | -34.04M | -29.24M | -25.69M | -19.23M |
| Net Income | -23.32M | -26.97M | -35.32M | -30.27M | -26.97M | -20.48M |
Balance Sheet | ||||||
| Total Assets | 8.70M | 9.40M | 27.95M | 18.30M | 27.49M | 26.15M |
| Cash, Cash Equivalents and Short-Term Investments | 2.26M | 3.26M | 20.73M | 10.87M | 20.58M | 19.44M |
| Total Debt | 10.94M | 5.82M | 5.86M | 4.97M | 4.02M | 4.44M |
| Total Liabilities | 41.80M | 35.51M | 36.66M | 21.42M | 9.77M | 9.86M |
| Stockholders Equity | -31.82M | -24.91M | -7.80M | -2.57M | 17.94M | 16.34M |
Cash Flow | ||||||
| Free Cash Flow | -21.79M | -26.47M | -19.15M | -16.85M | -21.83M | -18.41M |
| Operating Cash Flow | -21.38M | -25.89M | -18.06M | -15.28M | -20.85M | -16.46M |
| Investing Cash Flow | -413.19K | -573.85K | -1.08M | -1.57M | -973.56K | -1.65M |
| Financing Cash Flow | 17.23M | 8.66M | 28.98M | 6.94M | 22.86M | 20.62M |
VolitionRX Technical Analysis
Positive
0.68
Price Trends
0.67
Positive
0.63
Positive
0.60
Positive
Market Momentum
>-0.01
Negative
55.51
Neutral
59.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VNRX, the sentiment is Positive. The current price of 0.68 is above the 20-day moving average (MA) of 0.65, above the 50-day MA of 0.67, and above the 200-day MA of 0.60, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 55.51 is Neutral, neither overbought nor oversold. The STOCH value of 59.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VNRX.
VolitionRX Risk Analysis
VolitionRX disclosed 35 risk factors in its most recent earnings report. VolitionRX reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
VolitionRX Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | 92.82M | -4.60 | -59.68% | ― | 5.33% | 75.52% | |
47 Neutral | $73.16M | ― | 138.92% | ― | 35.10% | 39.15% | |
42 Neutral | 57.04M | -1.27 | -3609.67% | ― | 25.70% | 39.25% | |
41 Neutral | 17.33M | -0.04 | -163.82% | ― | -25.02% | 85.08% | |
38 Underperform | 4.91M | -0.24 | 547.20% | ― | 4.99% | 22.58% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
VNRX
VolitionRX
0.68
0.06
9.68%
ENZB
Enzo Biochem
0.70
-0.36
-33.96%
BNGO
BioNano Genomics
1.79
-22.21
-92.54%
BNR
Burning Rock Biotech
8.62
5.04
140.78%
BDSX
Biodesix
7.13
-24.67
-77.58%
BIAF
bioAffinity Technologies, Inc.
4.98
-53.82
-91.53%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.