VIRC (VIRC) financial statements
VIRC reported revenue of $200M in fiscal 2026, up 1.6% a year over 9 years.
Net income was $3M and the operating margin 1.8%, against 3.4% in 2017.
Free cash flow was -$7M, and the company returned $2M in dividends and $4M in net buybacks.
The diluted share count rose 3% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from VIRC's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $173M | $189M | $201M | $193M | $153M | $185M | $231M | $269M | $266M | $200M |
| Cost of revenue | $111M | $124M | $134M | $121M | $98M | $124M | $146M | $153M | $152M | $118M |
| Gross profit | $63M | $65M | $67M | $72M | $55M | $61M | $85M | $116M | $115M | $81M |
| Selling, general and admin | $57M | $60M | $65M | $66M | $54M | $61M | $75M | $84M | $87M | $78M |
| Operating income | $6M | $5M | $2M | $6M | $735,000 | -$336,000 | $11M | $32M | $28M | $4M |
| Interest expense | $1M | $2M | $2M | $2M | $2M | $1M | $2M | $3M | $349,000 | $300,000 |
| Pre-tax income | $5M | $2M | -$1M | $3M | -$3M | -$4M | $8M | $29M | $28M | $3M |
| Income tax | -$18M | $6M | $497,000 | $345,000 | -$744,000 | $11M | -$9M | $7M | $7M | $895,000 |
| Net income | $23M | -$3M | -$2M | $2M | -$2M | -$15M | $17M | $22M | $22M | $3M |
| EPS (diluted) | $1.49 | -$0.21 | -$0.10 | $0.15 | -$0.14 | -$0.95 | $1.02 | $1.34 | $1.32 | $0.16 |
| Diluted shares | 15M | 15M | 15M | 16M | 16M | 16M | 16M | 16M | 16M | 16M |
| Gross margin | 36.1% | 34.6% | 33.4% | 37.1% | 35.9% | 33.0% | 36.9% | 43.1% | 43.1% | 40.7% |
| Operating margin | 3.4% | 2.7% | 1.2% | 3.1% | 0.5% | -0.2% | 4.6% | 11.8% | 10.5% | 1.8% |
| Net margin | 13.1% | -1.7% | -0.8% | 1.2% | -1.5% | -8.2% | 7.2% | 8.1% | 8.1% | 1.3% |
Balance sheet
Fiscal years, from VIRC's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $788,000 | $534,000 | $738,000 | $1M | $402,000 | $1M | $1M | $5M | $27M | $14M |
| Receivables | $10M | $11M | $13M | $12M | $10M | $18M | $18M | $23M | $13M | $14M |
| Inventory | $36M | $42M | $47M | $43M | $38M | $47M | $67M | $58M | $56M | $57M |
| Total current assets | $48M | $56M | $63M | $58M | $51M | $69M | $89M | $89M | $102M | $99M |
| Property, plant and equipment | $34M | $42M | $42M | $40M | $37M | $35M | $35M | $35M | $36M | $35M |
| Total assets | $108M | $117M | $123M | $139M | $125M | $126M | $150M | $146M | $192M | $174M |
| Total current liabilities | $22M | $28M | $32M | $25M | $22M | $36M | $49M | $39M | $34M | $32M |
| Long-term debt | $5M | $12M | $16M | $16M | $10M | $14M | $14M | $4M | $4M | $4M |
| Total liabilities | $49M | $58M | $66M | $84M | $71M | $79M | $82M | $55M | $83M | $68M |
| Shareholders' equity | $59M | $59M | $57M | $55M | $54M | $47M | $68M | $91M | $109M | $106M |
| Net debt | $4M | $16M | $21M | $16M | $10M | $13M | $21M | -$902,000 | -$23M | -$11M |
Cash flow
Fiscal years, from VIRC's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6M | $2M | $2M | $10M | $8M | -$401,000 | -$4M | $27M | $33M | -$841,000 |
| Capital spending | $4M | $6M | $5M | $4M | $2M | $3M | $3M | $5M | $6M | $6M |
| Free cash flow | $1M | -$5M | -$3M | $6M | $6M | -$3M | -$7M | $22M | $27M | -$7M |
| Stock-based compensation | $609,000 | $830,000 | $908,000 | $924,000 | $1M | $1M | $612,000 | $595,000 | $395,000 | $208,000 |
| Dividends paid | — | $0 | $930,000 | $0 | — | — | $0 | $327,000 | $1M | $2M |
| Share buybacks (net) | -$264,000 | -$339,000 | -$265,000 | -$246,000 | -$156,000 | -$176,000 | -$213,000 | $0 | -$4M | -$4M |
| Net borrowing | -$1M | $12M | $5M | -$5M | -$6M | $4M | $7M | -$17M | -$249,000 | -$258,000 |
| Free cash flow margin | 0.8% | -2.4% | -1.5% | 2.9% | 3.7% | -1.8% | -3.1% | 8.1% | 10.1% | -3.4% |
| Dividends per share | — | — | $0.06 | — | — | — | — | $0.02 | $0.09 | $0.10 |
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Open VIRC in InvestinglyQuestions
What was VIRC's revenue in 2026?
$200M in fiscal 2026, from its 10-K filing.
How much free cash flow does VIRC generate?
-$7M in fiscal 2026 (operating cash flow minus capital spending).
From VIRC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.