VolitionRx Limited Announces Full Fiscal Year 2025 Financial Results and Business Update
Rhea-AI Summary
VolitionRx (NYSE AMERICAN: VNRX) reported full fiscal year 2025 results and a business update on March 31, 2026. Key metrics: 2025 revenue $1.7M (+40% YoY), Q4 revenue growth +133% YoY, operating expenses down $4.8M (17%), net loss down 14%, and net cash used in operations $19.7M (down 24%).
Post-year-end financings included $5.4M ATM proceeds, a $1.9M convertible note and warrant, and $1M non-dilutive regional funding with ~$0.9M conditional tranches expected.
Positive
- Full-year revenue of $1.7M (+40% YoY)
- Q4 revenue growth of 133% YoY
- Operating expenses reduced by $4.8M (17%)
- Net cash used in operations reduced to $19.7M (down 24%)
- Post-year-end funding: $5.4M ATM and $1.9M convertible note
Negative
- Net loss remained material despite a 14% improvement
- Net cash used in operations still substantial at $19.7M
- Revenue level remains small at $1.7M relative to financing need
News Market Reaction – VNRX
In the Apr 1 session, VNRX declined 0.99%, reflecting a mild negative market reaction. Argus tracked a peak move of +11.5% during that session. Argus tracked a trough of -3.1% from its starting point during tracking. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Nov 13 | Q3 2025 earnings | Positive | -6.6% | Q3 2025 revenue growth, lower expenses, and reduced net loss with funding raised. |
| Aug 14 | Q2 2025 earnings | Positive | +7.9% | Q2 2025 revenue growth, improved H1 results, and active Nu.Q® commercialization. |
| May 15 | Q1 2025 earnings | Positive | -5.2% | Q1 2025 revenue increase, halved cash burn, and new Nu.Q® NETs sales. |
| Mar 31 | FY 2024 earnings | Positive | -9.0% | FY 2024 revenue up 59%, strong Nu.Q® Vet growth, and expense reductions. |
| Nov 14 | Q3 2024 earnings | Positive | -5.6% | Q3 2024 revenue up 187% with expanding Nu.Q® Vet footprint and funding. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases often highlighted revenue growth and lower losses, but 4 of 5 prior events saw negative next-day moves, indicating a pattern of selling into earnings despite operational progress.
Across the last five earnings updates from Nov 2024 through Nov 2025, VolitionRx reported consistent revenue growth and reductions in operating expenses and net loss, along with efforts to manage cash burn and secure funding. Several updates emphasized Nu.Q® Vet and human diagnostics commercialization progress. However, most earnings days were followed by share price declines, suggesting that prior financial and strategic improvements did not consistently translate into positive short-term price reactions.
Key Terms
at-the-market facility financial
convertible note financial
warrant financial
non-dilutive funding financial
liquid biopsy medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Conference call to discuss financial and operational results scheduled for
Wednesday, April 1 at 8:30 a.m.
Cameron Reynolds, President and Group Chief Executive Officer, said:
"We set out over fifteen years ago to help save lives and improve outcomes for millions of patients worldwide, and I could not be prouder of the progress we are making towards that goal.
"In 2025 we not only received our first order for the Nu.Q® Cancer assays for clinical certification ahead of routine clinical use in lung cancer, but we also announced the inclusion of our Nu.Q® NETs assay in a real-world interventional evaluation of early detection of sepsis, in a government-backed program (
"Cancer and sepsis are leading causes of death, accounting for approximately one third of deaths worldwide. Our tests are about to be used in both these devastating diseases, to help save lives in real world hospital settings: an extremely proud moment for our entire team.
"Our goal is to secure a range of licensing agreements in the human diagnostics space and to that end we are in discussions with around 10 of the world's leading diagnostic and liquid biopsy companies and are at various stages of the process across our different pillars, ranging from due diligence to tech transfer, to evaluation of clinical samples, to contract negotiation. We anticipate further human licensing deals and will update on progress as they are completed.
"I believe we will look back on 2025, this first quarter of 2026 and indeed in time, the next few quarters, as transformational for the company."
Financial Highlights
- Finished the year strongly with year over year revenue growth for Q4 of
133% . - Full-year revenue for 2025 was
$1.7 million 40% over the previous year. - Operating expenses for the year were down
$4.8 million 17% compared to last year. - Net loss was down
14% for the year versus 2024. - Net cash used in operating activities was
$19.7 million 24% . - Subsequent to year end, we received:
$5.4 million $1.9 million $1 million $0.9 million
Event: VolitionRx Limited Full Fiscal Year 2025 Earnings and Business Update Conference Call
Date: Wednesday, April 1, 2026
Time: 8:30 a.m.
Toll/International: 1-201-493-6779
Conference ID: 13759627
Louise Batchelor, Group Chief Marketing & Communications Officer will host the call along with Cameron Reynolds, President and Group Chief Executive Officer of Volition, Terig Hughes, Group Chief Financial Officer, Dr. Andrew Retter, Medical Consultant and Dr. Jake Micallef, Chief Scientific Officer. The call will provide an update on important events that have taken place in 2025, subsequent events and upcoming milestones.
A live audio webcast of the conference call will also be available on this link. In addition, a telephone replay of the call will be available until April 15, 2026. The replay dial-in numbers are 1-844-512-2921 (toll-free) in the
About Volition
Volition is a multi-national company focused on advancing the science of epigenetics. Volition is dedicated to saving lives and improving outcomes for people and animals with life-altering diseases through earlier detection, as well as disease and treatment monitoring.
Through its subsidiaries, Volition is developing and commercializing simple, easy to use, cost-effective blood tests to help detect and monitor a range of diseases, including some cancers and diseases associated with NETosis, such as sepsis. Early detection and monitoring have the potential not only to prolong the life of patients, but also to improve their quality of life.
Volition's research and development activities are centered in
The contents found at Volition's website address are not incorporated by reference into this document and should not be considered part of this document. Such website address is included in this document as an inactive textual reference only.
Media Enquiries:
Louise Batchelor, Volition, mediarelations@volition.com, +44 (0)7557 774620
Safe Harbor Statement
Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. Words such as "expects," "anticipates," "intends," "plans," "aims," "targets," "believes," "seeks," "estimates," "optimizing," "potential," "goal," "suggests," "could," "would," "should," "may," "will" and similar expressions identify forward-looking statements. These forward-looking statements relate to, among other topics, Volition's expectations related to revenue opportunities and growth, the receipt of funding based on certain milestones, the effectiveness and availability of Volition's blood-based diagnostic, prognostic and disease monitoring tests, Volition's ability to develop and successfully commercialize such test platforms for early detection of cancer and other diseases as well as serving as a diagnostic, prognostic or disease monitoring tools for such diseases, Volition's expectations regarding future publications, Volition's success in securing licensing and/or distribution agreements with third parties for its products, and Volition's expectations regarding the terms of such agreements. Volition's actual results may differ materially from those indicated in these forward-looking statements due to numerous risks and uncertainties, including, without limitation, results of studies testing the efficacy of its tests. For instance, if Volition fails to develop and commercialize diagnostic, prognostic or disease monitoring products, it may be unable to execute its plan of operations. Other risks and uncertainties include Volition's failure to obtain necessary regulatory clearances or approvals to distribute and market future products; a failure by the marketplace to accept the products in Volition's development pipeline or any other diagnostic, prognostic or disease monitoring products Volition might develop; Volition's failure to secure adequate intellectual property protection; Volition will face fierce competition and Volition's intended products may become obsolete due to the highly competitive nature of the diagnostics and disease monitoring market and its rapid technological change; downturns in domestic and foreign economies; and other risks, including those identified in Volition's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as other documents that Volition files with the Securities and Exchange Commission. These statements are based on current expectations, estimates and projections about Volition's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are made as of the date of this release, and, except as required by law, Volition does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
Pursuant to the disclosure requirements of the NYSE American Company Guide Section 610(b), Volition is reporting that its audited consolidated financial statements for the fiscal year ended December 31, 2025, included in Volition's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2026, contains an audit opinion from its independent registered public accounting firm that includes an explanatory paragraph related to Volition's ability to continue as a going concern. This announcement does not represent any change or amendment to Volition's financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
Nucleosomics™, Capture-PCR™, Capture-Seq™ and Nu.Q® and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries. All other trademarks, service marks and trade names referred to in this press release are the property of their respective owners. Additionally, unless otherwise specified, all references to "$" refer to the legal currency of
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SOURCE VolitionRx Limited