VirnetX Reports Net Loss of Five Million for Third Quarter
- December 30, 2013
VirnetX Holding Corp. reported Q3 2013 revenue of $1.6 million, up from $368,000 in Q3 2012. Third quarter revenue was primarily a result of VirnetX’s September 2013 settlement agreement with Avaya: VirnetX attributed $1.5 million in royalties to the settlement with Avaya. VirnetX disclosed a net loss of $5.1 million for the third quarter and $20 million for the first nine months of 2013. VirnetX also reported $21 million in cash at quarter end. The company is currently involved in litigation it initiated against Apple (6:11cv00563; 6:13cv00211; 6:12cv00855; 6:13mc00037) and Microsoft (6:13cv00351).