VLN Revenue Flow
A current filed revenue breakdown could not be established from the retained filing evidence.
- 2025-12-31: Revenue $19.40M*; Cost of revenue $7.66M*; Research and development $11.06M*; Selling, general and administrative $4.69M*.
- 2025-09-30: Revenue $17.34M; Cost of revenue $6.41M; Research and development $10.80M; Selling, general and administrative $2.21M.
- 2025-06-30: Revenue $17.06M; Cost of revenue $6.22M; Research and development $10.20M; Selling, general and administrative $3.70M.
- 2025-03-31: Revenue $16.83M; Cost of revenue $6.25M; Research and development $10.59M; Selling, general and administrative $3.67M.
Finer product or service dollar figures and nonoverlapping groupings are shown only where supported by the retained filing evidence. Growth percentages are never converted to revenue dollars.
Historical revenue and expense breakdown
Revenue and expense 3 month
| Period end | Revenue | Cost of revenue | Research and development | Selling, general and administrative | Operating expenses | Income tax | Net income |
|---|
| 2025-12-31 | $19.40M* | $7.66M* | $11.06M* | $4.69M* | $20.92M* | $30.00K* | -$8.77M* |
|---|
| 2025-09-30 | $17.34M | $6.41M | $10.80M | $2.21M | $18.96M | $14.00K | -$7.32M |
|---|
| 2025-06-30 | $17.06M | $6.22M | $10.20M | $3.70M | $18.22M | $21.00K | -$7.18M |
|---|
| 2025-03-31 | $16.83M | $6.25M | $10.59M | $3.67M | $20.04M | $93.00K | -$8.31M |
|---|
| 2024-09-30 | $16.04M | $6.99M | $10.31M | $5.83M | $21.28M | $14.00K | -$10.36M |
|---|
| 2024-06-30 | $13.60M | $5.25M | $9.96M | $3.40M | $17.75M | $21.00K | -$8.87M |
|---|
| 2024-03-31 | $11.56M | $4.74M | $10.14M | $4.86M | $18.10M | $17.00K | -$10.04M |
|---|
| 2023-09-30 | $14.17M | $5.83M | $13.42M | (m) | $21.28M | $16.00K | -$12.49M |
|---|
| 2023-06-30 | $24.18M | $9.24M | $12.16M | (m) | $20.12M | $26.00K | -$4.58M |
|---|
| 2022-06-30 | $22.48M | $6.70M | $14.90M | (m) | $23.72M | $43.00K | -$9.99M |
|---|
| 2021-06-30 | $17.51M | $5.04M | $10.96M | (m) | $16.54M | $124.00K | -$3.70M |
|---|
Revenue and expense 6 month
| Period end | Revenue | Cost of revenue | Research and development | Selling, general and administrative | Operating expenses | Income tax | Net income |
|---|
| 2025-06-30 | $33.89M | $12.47M | $20.79M | $7.36M | $38.26M | $114.00K | -$15.49M |
|---|
| 2024-06-30 | $25.16M | $10.00M | $20.11M | $6.97M | $35.86M | $38.00K | -$18.91M |
|---|
| 2023-06-30 | $48.05M | $17.33M | $26.12M | (m) | $42.97M | $45.00K | -$9.96M |
|---|
| 2022-06-30 | $44.10M | $12.88M | $29.03M | (m) | $46.35M | $389.00K | -$15.04M |
|---|
| 2021-06-30 | $30.87M | $8.88M | $21.35M | (m) | $32.23M | $179.00K | -$10.07M |
|---|
Revenue and expense 9 month
| Period end | Revenue | Cost of revenue | Research and development | Selling, general and administrative | Operating expenses | Income tax | Net income |
|---|
| 2025-09-30 | $51.22M | $18.88M | $31.59M | $9.57M | $57.22M | $128.00K | -$22.81M |
|---|
| 2024-09-30 | $41.19M | $16.99M | $30.41M | $12.79M | $57.14M | $52.00K | -$29.27M |
|---|
| 2023-09-30 | $62.22M | $23.16M | $39.54M | (m) | $64.25M | $61.00K | -$22.45M |
|---|
Revenue and expense 12 month
| Period end | Revenue | Cost of revenue | Research and development | Selling, general and administrative | Operating expenses | Income tax | Net income |
|---|
| 2025-12-31 | $70.63M | $26.54M | $42.66M | $14.26M | $78.14M | $158.00K | -$31.58M |
|---|
| 2024-12-31 | $57.86M | $23.58M | $40.48M | $16.46M | $75.62M | $96.00K | -$36.58M |
|---|
| 2023-12-31 | $84.16M | $31.57M | $48.17M | $14.02M | $79.51M | $112.00K | -$19.66M |
|---|
| 2022-12-31 | $90.72M | $27.32M | $58.21M | (m) | $91.76M | $451.00K | -$27.67M |
|---|
| 2021-12-31 | $70.68M | $20.11M | $46.88M | (m) | $77.64M | $407.00K | -$26.53M |
|---|
| 2020-12-31 | $56.91M | $13.43M | $44.73M | (m) | $66.27M | $164.00K | -$19.64M |
|---|
| 2019-12-31 | $60.04M | $12.59M | $52.70M | (m) | $75.44M | $414.00K | -$25.93M |
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