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Digital Turbine vs VirnetX: revenue, profit, margins and growth compared

Digital Turbine brought in $565.3M of revenue in fiscal 2026, VirnetX $162K in fiscal 2025. Revenue changed by +15.2% at Digital Turbine and +3,140.0% at VirnetX on the year before, so VirnetX grew faster. Digital Turbine kept -6.7% of its revenue as net profit, VirnetX -11,250.0%. Free cash flow was $11.2M at Digital Turbine and -$15.7M at VirnetX.

Side by side, latest fiscal year

APPSVHC
Fiscal year endedFY2026 (March 31, 2026)FY2025 (December 31, 2025)
Revenue$565.3M$162K
Revenue growth+15.2%+3,140.0%
Net income-$37.7M-$18.2M
Net margin-6.7%-11,250.0%
Free cash flow$11.2M-$15.7M
Free cash flow margin2.0%-9,667.3%
Earnings per share (diluted)-$0.33-$5.00
Cash$37.7M$15.5M
Debt$361Mn/a
Price to earningsn/an/a
Market value$1.3B$43.7M
Dividend yieldn/an/a
Rank by revenue in sector#14 of 34 · Other#33 of 34 · Other

Over the years

Revenue
APPS FY2018: $103.6MAPPS FY2019: $138.7MAPPS FY2021: $313.6MAPPS FY2022: $747.6MAPPS FY2023: $665.9MAPPS FY2024: $544.5MAPPS FY2025: $490.5MAPPS FY2026: $565.3MVHC FY2018: $63KVHC FY2019: $85KVHC FY2020: $302.6MVHC FY2021: $35KVHC FY2022: $48KVHC FY2023: $7KVHC FY2024: $5KVHC FY2025: $162KFY18FY19FY20FY21FY22FY23FY24FY25FY26
APPS $565.3MVHC $162K
Net income
APPS FY2018: -$6MAPPS FY2019: $13.9MAPPS FY2021: $54.9MAPPS FY2022: $35.5MAPPS FY2023: $16.7MAPPS FY2024: -$420.2MAPPS FY2025: -$92.1MAPPS FY2026: -$37.7MVHC FY2018: -$25.4MVHC FY2019: -$19.2MVHC FY2020: $280.4MVHC FY2021: -$42.9MVHC FY2022: -$36.3MVHC FY2023: -$27.9MVHC FY2024: -$18.2MVHC FY2025: -$18.2MFY18FY19FY20FY21FY22FY23FY24FY25FY26
APPS -$37.7MVHC -$18.2M
Net margin
APPS FY2018: -5.8%APPS FY2019: 10.0%APPS FY2021: 17.5%APPS FY2022: 4.8%APPS FY2023: 2.5%APPS FY2024: -77.2%APPS FY2025: -18.8%APPS FY2026: -6.7%VHC FY2018: -40,327.0%VHC FY2019: -22,564.7%VHC FY2020: 92.7%VHC FY2021: -122,631.4%VHC FY2022: -75,541.7%VHC FY2023: -398,157.1%VHC FY2024: -363,500.0%VHC FY2025: -11,250.0%FY18FY19FY20FY21FY22FY23FY24FY25FY26
APPS -6.7%VHC -11,250.0%
Revenue growth
APPS FY2019: +33.9%APPS FY2021: +126.1%APPS FY2022: +138.4%APPS FY2023: -10.9%APPS FY2024: -18.2%APPS FY2025: -9.9%APPS FY2026: +15.2%VHC FY2019: +34.9%VHC FY2020: +355,942.4%VHC FY2021: -100.0%VHC FY2022: +37.1%VHC FY2023: -85.4%VHC FY2024: -28.6%VHC FY2025: +3,140.0%FY19FY20FY21FY22FY23FY24FY25FY26
APPS +15.2%VHC +3,140.0%
Free cash flow
APPS FY2024: $4.4MAPPS FY2025: -$15.6MAPPS FY2026: $11.2MVHC FY2018: -$22.3MVHC FY2019: -$15.1MVHC FY2020: $281.4MVHC FY2021: -$51.7MVHC FY2022: -$16.9MVHC FY2023: -$24.8MVHC FY2024: -$15.3MVHC FY2025: -$15.7MFY18FY19FY20FY21FY22FY23FY24FY25FY26
APPS $11.2MVHC -$15.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Digital Turbine and VirnetX

Which is bigger by revenue, Digital Turbine or VirnetX?

Digital Turbine is bigger by revenue: $565.3M in fiscal 2026, against $162K for VirnetX in fiscal 2025.

Which keeps more of its revenue as profit, Digital Turbine or VirnetX?

Digital Turbine had a net margin of -6.7% in fiscal 2026; VirnetX had -11,250.0% in fiscal 2025.

Which grew revenue faster, Digital Turbine or VirnetX?

In their latest fiscal years revenue changed by +15.2% at Digital Turbine and +3,140.0% at VirnetX.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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