VNRXNYSEIn Vitro & In Vivo Diagnostic SubstancesUS GAAP · USD

VolitionRX Limited

VolitionRx Ltd is a U.S.-based epigenetics diagnostics company developing blood-based tests that use nucleosomes and related biomarkers to detect and monitor disease. Its portfolio includes the Nu.Q® family of tests and services for human and animal health, with commercialization through direct sales, distributors, and licensing partners across multiple countries.

Liikevaihto1,7milj. USD
+40,0 %v/v
Liikevoitto (EBIT)−21,7milj. USD
+19,6 %v/v
EBIT-marginaali−1 258,5%
+932,4 %-yks.v/v
Nettotulos−23,4milj. USD
+13,4 %v/v
Vapaa kassavirta−19,8milj. USD
+24,4 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−40−30−20−10010milj. USD2020: 0,01 milj. USD2020: EBIT −21 milj. USD20202021: 0,09 milj. USD2021: EBIT −28 milj. USD20212022: 0,31 milj. USD2022: EBIT −32 milj. USD20222023: 0,78 milj. USD2023: EBIT −36 milj. USD20232024: 1,2 milj. USD2024: EBIT −27 milj. USD20242025: 1,7 milj. USD2025: EBIT −22 milj. USD20251,7−22
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Veterinary cancer diagnostics55 %

Blood-based tests for detecting and monitoring cancer in companion animals.

Human disease diagnostics25 %

Assay technologies and services aimed at human diagnostic applications and partner development.

Nu.Q® Discover services15 %

Research and assay services sold to partners and customers for biomarker discovery and validation.

Licensing and collaboration agreements5 %

Technology access, supply, and commercialization rights granted to diagnostic partners.

Asiakkaat

VolitionRx sells to diagnostic companies, reference laboratories, veterinary networks, and research partners that want biomarker-based tests they can commercialize or run in their own platforms. In animal health, customers include veterinary laboratories and distributors serving companion-animal clinics, while in human health the company works with specialized diagnostics groups developing assays for disease areas such as thrombosis and cancer. The business model depends on partners with established distribution, laboratory infrastructure, and regulatory/commercial reach.

Veterinary reference laboratories

Buy Nu.Q® Vet Cancer Test products to run cancer screening and monitoring workflows for companion animals.

Diagnostic partners and licensors

License Volition's assay technology and supply agreements to commercialize tests on their platforms.

Veterinary distributors

Purchase and distribute Nu.Q® Vet Cancer Test into regional animal-health markets.

Research and clinical collaborators

Use Nu.Q® Discover and assay components to evaluate biomarker performance and clinical utility.

Human diagnostics developers

Evaluate Nu.Q® components for indications such as APS and other NETs-related diseases.

Strategia

VolitionRx's strategy is to monetize its biomarker IP through licensing, supply, and distribution partnerships rather than building a fully direct sales organization everywhere. The company is focused on expanding the Nu.Q® platform in companion animal health while also developing human diagnostic applications with established diagnostics companies that can provide regulatory, laboratory, and commercial infrastructure.

Commercialize Nu.Q® through strategic partnersLyhyt aikaväli

Partners provide distribution, laboratory capacity, and market access that Volition lacks at scale.

Expand veterinary diagnostics footprintKeskipitkä aikaväli

Companion-animal testing is the most visible commercialization path for the Nu.Q® platform.

Build human diagnostic applicationsKeskipitkä aikaväli

Human disease indications could broaden the addressable market and deepen IP monetization.

Maantiede

VolitionRx operates as a multinational diagnostics business with commercialization and partner activity spanning the United States, Europe, and Asia. Its Nu.Q® Vet Cancer Test is available in over twenty countries, and the company relies on regional distributors and global partners such as IDEXX, Fujifilm Vet Systems, Werfen, and Hologic to extend market access. Geography matters because regulatory pathways, veterinary practice adoption, and partner networks differ by country and determine how quickly tests can be launched and scaled.

Riskit

VolitionRx depends on external financing and partner execution, so commercialization risk is tied to both capital availability and third-party adoption. Its products are subject to regulatory, clinical validation, and reimbursement hurdles, while the company also faces typical diagnostics risks such as slow market uptake, competitive assay technologies, and dependence on a small number of strategic partners.

Järjestetty vakavuuden mukaan
Dependence on external financingKorkea

The company has not achieved sustained profitability and needs capital to fund operations and commercialization.

Kohdistuu: Corporate liquidity and operating continuity

Partner concentrationKorkea

Commercial reach relies heavily on a limited number of licensing and distribution partners.

KohdistuuIDEXXFujifilm Vet SystemsWerfenHologic
Regulatory and clinical validationKorkea

Diagnostic products must demonstrate utility and may require approvals or evidence generation before broad adoption.

Kohdistuu: Human and veterinary assays

Commercial adoption riskKeskitaso

New blood-based tests can take time to gain routine use in veterinary and human workflows.

Kohdistuu: Nu.Q® Vet Cancer Test and Nu.Q® Discover

Competitive technology riskKeskitaso

Other diagnostics companies may offer alternative biomarker or liquid biopsy solutions.

Kohdistuu: Epigenetic and NETs-related diagnostics

Kirjanpito

Harkinnanvaraiset erät
Deferred revenue and contract accounting

Licensing, supply, and service agreements may recognize revenue over time or at milestones depending on performance obligations.

Vaikutus: Affects timing of reported revenue and contract liabilities

Warrants and derivative liabilities

Financing arrangements can include embedded features that must be remeasured at fair value.

Vaikutus: Can create non-cash gains or losses in other income/expense

Intangible asset impairment

The value of patented technologies depends on commercialization success and future cash flows.

Vaikutus: Could lead to impairment charges if expected use declines

Stock-based compensation

Employee and director awards require valuation assumptions that affect operating expenses.

Vaikutus: Impacts reported R&D, sales, and G&A costs

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 29.4.2026

VolitionRX Limited (VNRX) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo