VNDA (VNDA) financial statements
VNDA reported revenue of $216M in fiscal 2025, up 4.5% a year over 9 years.
Net income was -$220M and the operating margin -70.0%, against -12.7% in 2016.
Free cash flow was -$110M.
The diluted share count rose 36% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from VNDA's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $146M | $165M | $193M | $227M | $248M | $269M | $254M | $193M | $199M | $216M |
| Cost of revenue | — | — | $21M | $24M | $23M | $26M | $24M | $15M | $11M | $13M |
| Gross profit | — | — | $173M | $203M | $225M | $243M | $230M | $178M | $187M | $203M |
| Research and development | $29M | $39M | $44M | $49M | $56M | $75M | $86M | $77M | $74M | $109M |
| Selling, general and admin | $100M | $124M | $106M | $130M | $141M | $124M | $136M | $113M | $146M | $238M |
| Operating income | -$19M | -$17M | $22M | $23M | $27M | $42M | $6M | -$14M | -$41M | -$151M |
| Pre-tax income | -$18M | -$15M | $25M | $29M | $32M | $42M | $11M | $6M | -$23M | -$139M |
| Income tax | $104,000 | $136,000 | $138,000 | -$87M | $8M | $9M | $5M | $4M | -$4M | $82M |
| Net income | -$18M | -$16M | $25M | $116M | $23M | $33M | $6M | $3M | -$19M | -$220M |
| EPS (diluted) | -$0.41 | -$0.35 | $0.48 | $2.11 | $0.42 | $0.58 | $0.11 | $0.04 | -$0.33 | -$3.74 |
| Diluted shares | 43M | 45M | 53M | 55M | 55M | 57M | 57M | 58M | 58M | 59M |
| Gross margin | — | — | 89.4% | 89.2% | 90.6% | 90.5% | 90.5% | 92.3% | 94.3% | 94.0% |
| Operating margin | -12.7% | -10.2% | 11.3% | 10.0% | 11.0% | 15.7% | 2.5% | -7.2% | -20.5% | -70.0% |
| Net margin | -12.3% | -9.4% | 13.1% | 50.9% | 9.4% | 12.3% | 2.5% | 1.3% | -9.5% | -102.0% |
Balance sheet
Fiscal years, from VNDA's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $141M | $143M | $257M | $312M | $368M | $433M | $135M | $136M | $102M | $85M |
| Receivables | $20M | $18M | $29M | $26M | $30M | $32M | $34M | $34M | $47M | $55M |
| Inventory | $779,000 | $840,000 | $994,000 | $1M | $1M | $1M | $1M | $1M | $2M | $2M |
| Total current assets | $174M | $170M | $299M | $354M | $409M | $478M | $519M | $433M | $439M | $347M |
| Property, plant and equipment | $5M | $5M | $4M | $4M | $4M | $3M | $3M | $2M | $2M | $2M |
| Total assets | $210M | $205M | $332M | $484M | $533M | $594M | $634M | $648M | $656M | $489M |
| Total current liabilities | $50M | $70M | $53M | $60M | $66M | $74M | $91M | $88M | $100M | $145M |
| Total liabilities | $79M | $74M | $57M | $73M | $80M | $89M | $107M | $104M | $118M | $162M |
| Shareholders' equity | $131M | $131M | $275M | $411M | $453M | $505M | $527M | $545M | $539M | $327M |
| Net debt | -$40M | -$34M | -$61M | -$45M | -$61M | -$52M | -$135M | -$136M | -$102M | -$85M |
Cash flow
Fiscal years, from VNDA's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8M | -$2M | $30M | $46M | $52M | $64M | $32M | $13M | -$16M | -$109M |
| Capital spending | $1M | $2M | $368,000 | $1M | $2M | $552,000 | $679,000 | $383,000 | $490,000 | $998,000 |
| Free cash flow | -$10M | -$4M | $30M | $45M | $50M | $64M | $31M | $12M | -$16M | -$110M |
| Stock-based compensation | $9M | $10M | $12M | $13M | $13M | $15M | $16M | $14M | $12M | $9M |
| Free cash flow margin | -6.5% | -2.2% | 15.3% | 19.8% | 20.1% | 23.7% | 12.3% | 6.4% | -8.2% | -51.1% |
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Open VNDA in InvestinglyQuestions
What was VNDA's revenue in 2025?
$216M in fiscal 2025, from its 10-K filing.
How much free cash flow does VNDA generate?
-$110M in fiscal 2025 (operating cash flow minus capital spending).
From VNDA's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.