VNRX · Volitionrx Ltd
Substantial doubt about the company's ability to continue as a going concern.
“The Company concluded that these plans do not alleviate the substantial doubt about the Company's ability to continue as a going concern within one year from the date the condensed consolidated financial statements are issued.”View the 10-Q filed Aug 13, 2026
2 customers — 38% of receivables (December 31, 2025)
“At December 31, 2025 the two largest customer balances represented over 38% of the total outstanding accounts receivable balance.”
Price & Indicators
Raw chart and full-history price indicators begin at the captured split on Apr 28, 2026; bars on opposite sides are not compared.
The closing range begins at the captured split on Apr 28, 2026.
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AI Brief
Q1 FY26 earnings call · May 15, 2026TL;DR. VolitionRx reported Q1 2026 revenue of approximately $1.0 million (up from $0.2 million a year ago) driven largely by a $0.7 million acceleration of deferred revenue from its Heska QVET agreement, while operating loss was 3% lower year-on-year. The company highlighted multi-species Nu.Q Vet progress (including a feline manuscript expected to unlock a $5M milestone), new Nu.Q NETs clinical data, and active licensing discussions, but management will not provide 2026 revenue guidance and revenue remains lumpy.
- + Revenue rose ~300% year-on-year to ~$1.0M, driven by $0.7M of accelerated deferred revenue from the Heska QVET agreement. new
- + Operating loss was 3% lower year-on-year while operating expenses only rose to $6.3M from $5.8M, with continued cost-reduction measures underway. new
- + Submitted for peer review a feline lymphoma Nu.Q Vet manuscript (97% specificity, 86% sensitivity) expected to unlock a $5M contractual milestone payment upon publication. new
- + Completed validation/verification of the chemiluminescent automated CLIA version of Nu.Q Vet with Fuji Vet Systems in Japan, enabling full automation in central labs. new
- + Reported two new Nu.Q NETs clinical use cases beyond sepsis: Hidradenitis Suppurativa (chronic disease) and a 674-patient Mayo Clinic trauma study published in Shock. new
- + Cash position strengthened to ~$3.1M at quarter-end (vs. $1.1M at Dec 2025) after $5.4M ATM proceeds, $1.9M Lind convertible note, and ~$1M of Walloon Region non-dilutive funding, with another ~$0.9M expected. new
- − Management will not provide 2026 revenue guidance, citing lumpy and difficult-to-predict revenue at this stage of commercialization. new
- − Net cash used in operating activities worsened to $5.3M from $4.3M in Q1 2025, partly due to timing of supplier payments. new
- − Operating expenses increased to $6.3M from $5.8M year-on-year, including severance costs and higher R&D spend on Capture-Seq and lung cancer studies. new
- − Reliance on dilutive financings: $5.4M raised via ATM facility and $1.9M via convertible note issuance during the quarter. new
- − $5M feline milestone payment has not yet been received and is contingent on peer-reviewed publication of the manuscript. new
- − Management acknowledged the new Nu.Q Capture shop revenue contribution is uncertain, noting 'we're not sure exactly how much the take-up is going to be' and offering no projections. new
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Versus peers
Medical Devices — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
VNRX
this stock
Volitionrx Ltd
|
$6.13M | — | +40.0% | — | 5.0% |
|
ABT
Abbott Laboratories
|
$191.81B | -11.9% | +5.7% | 30.9 | 1.2% |
|
SYK
Stryker Corp
|
$126.84B | -5.9% | +11.2% | 34.3 | 1.8% |
|
MDT
Medtronic plc
|
$116.78B | -5.0% | +8.4% | 24.5 | 1.1% |
|
BSX
Boston Scientific Corp
|
$70.00B | -49.3% | +12.5% | 19.6 | 1.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
Raw-price comparisons begin at the captured split on Apr 28, 2026; windows that need an earlier baseline remain unavailable.
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| VNRX | +7.8% | -37.4% | — | -37.4% | — |
| SPY | +0.5% | +3.0% | +13.4% | +3.0% | +12.8% |
| vs SPY | +7.3% | -40.4% | — | -40.4% | — |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.