Virtuix Holdings Inc. Class A Common Stock (VTIX)

Neutral

Insufficient data to determine institutional momentum.

Data as of Q2 2026

FY2026 basis· unprofitable_growth

$0.78▼ 1.27%

EOD close · as of 2026-10-21

Market Cap

$26.5M

Enterprise Value

$25.5M

P/S

6.2×

Revenue (FY)

$4.3M

Rev. growth

18.4%/yr

Gross margin

25%

Net margin

-395%

ROIC

n/a for a company with no positive EBITDA

Net debt / EBITDA

—

Revenue· FY2026$4.3M

Net Income· FY2026-$16.8M

Free Cash Flow· FY2026-$9.5M

Deep analysis

Quality of the business

What backs the price

Is the profit real, and how strong is the balance sheet?

Returns on capital

ROIC -174%

-174%

Pricing power

Gross margin 25%

25%

Income statement

How a revenue dollar becomes profit

FY2026 · every deduction from revenue to net income

Returns

Why ROE is -1531.7%

DuPont — the three levers

Net margin

-395.0%

profit / rev

Asset turns

0.29×

rev / assets

Leverage

13.46×

assets / year-end equity

ROE

-1531.7%

on year-end equity

ROE -1532% against ROIC -174% — -1357% of the return on equity comes from leverage and buybacks rather than from the operating business.

Equity is the year-end figure. On average equity over the two year-ends, ROE is -11099.0% — the two diverge when buybacks or issuance move equity during the year.

Leverage & liquidity

Debt structure

What the company owes vs. what it holds

Total Debt

$8.5M

Cash & Equivalents

$9.5M

Net Debt

-$931K

Net debt / EBITDA—

This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.

Operating leverage

How profit responds to sales

Latest year: profit growth vs revenue growth

Revenue Δ

+18.4%

Op. income Δ

-27.3%

Op. leverage

-1.5×

Profit and sales moved in opposite directions this year.

Operating leverage

Common-size income statement

Each line as % of revenue — the trend in color

% of revenue	FY2025	FY2026
Cost of Revenue	106.3	75.4
Gross Profit	-6.3	24.6
R&D	60.9	19.9
SG&A	282.1	186.7
Operating Income	-395.1	-242.7
Income Tax	2.2	2.9
Net Income	-408.0	-395.0

Green = margin-favorable vs the row's own range · red = unfavorable.

Track record · FY2025 → FY2026

How the ratios & debt developed

The metrics that matter, over time

ROE

-1532%

FY2026 · latest

Net margin

-395%

FY2026 · latest

Gross margin

25%

FY2026 · latest

Net debt / EBITDA

—

— · latest

—

Current ratio

1.1×

FY2026 · latest

FCF margin

-223%

FY2026 · latest

Free cash flow

-$9.5M

FY2026 · latest

Institutional ownership: 17 holders · 11% of shares · 73th percentile crowding — Insufficient data to determine institutional momentum. (see the 13F tab)

A 30-second read on VTIX: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.

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Financials

$0.78▼ 1.27%

EOD close · as of 2026-10-21

Market Cap

$26.5M

Enterprise Value

$25.5M

Revenue → Profit Flow

How a revenue dollar becomes profit — FY2026

Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.

Each value shows its share of revenue below it (common-size).

Line Item	FY2026	FY2025
Revenue	$4.3M 100.0%	$3.6M 100.0%
Cost of Revenue	$3.2M 75.4%	$3.8M 106.3%
Gross Profit	$1.0M 24.6%	-$227K -6.3%
Research & Development	$846K 19.9%	$2.2M 60.9%
Selling, General & Admin	$7.9M 186.7%	$10.1M 282.1%
Total Operating Expenses	$11.4M 267.3%	$14.0M 388.8%
Operating Income	-$10.3M -242.7%	-$14.2M -395.1%
Interest Expense	$3.5M 83.3%	$369K 10.3%
Interest & Investment Income	$605 0.0%	$1K 0.0%
Other Income (Expense), net	-$6.4M -149.4%	-$368K -10.3%
Income Tax Expense	$125K 2.9%	$79K 2.2%
Net Income	-$16.8M -395.0%	-$14.6M -408.0%
Per Share
EPS (Basic)	-$0.73	-$1.78
EPS (Diluted)	-$0.73	-$1.78
Weighted Avg Shares (Basic)	23.0M	8.2M
Weighted Avg Shares (Diluted)	23.0M	8.2M

Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.

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Is the business good?

Can't say

No positive operating income in the last three years, so there is no return on capital to compare against its cost.

Not enough history to draw the spread — it needs at least two fiscal years with a computable ROIC and a cost of capital.

Gross, operating and net margin by fiscal year
Fiscal year	Gross margin	Operating margin	Net margin
FY2025	-6.3%	-395.1%	-408.0%
FY2026	24.6%	-242.7%	-395.0%

Shared scale — the distance between the lines is the cost structure▨ each line's own 2-year range

The other side

No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.

Missing from our data, so excluded from this answer: tax_rate.

Basis: FY2026Source: SEC EDGAR XBRL

Are the earnings real?

Can't say

Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.

The cash bridge needs net income and operating cash flow for the same year — one of them has no value on file here.

The other side

No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.

Missing from our data, so excluded from this answer: 3 years of cash flow.

Basis: FY2026Source: SEC EDGAR XBRL

Can it survive?

Can't say

Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.

A stress curve needs EBIT and a reported interest expense — one of them is not available for this company.

Can the maturities be paid?

cumulative principal duecash + free cash flow held flat at -$10M/yr exceeds resources

Ladder as of 2026-06-30 (10-Q/A); cash from the 2026-03-31 balance sheet; FCF from FY2026. Free cash flow is negative, so projected resources fall rather than accumulate.

What is on hand

Cash & equivalents

$9M

excludes restricted cash

Net debt

-$931K

net cash

Current ratio

1.11×

current assets / current liabilities

Quick ratio

1.00×

excludes inventory

Balance sheet at 2026-03-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.

The other side

No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.

Missing from our data, so excluded from this answer: ebitda.

Basis: FY2026Source: SEC EDGAR XBRL

What's priced in?

Can't say

No positive free cash flow to discount, so the price cannot be expressed as a growth requirement.

Comparing the market's assumption against the record needs a solvable growth requirement and at least two years of free cash flow growth.

P / E

not reported for this company

P / S

6.2× · med 3.7× · 1.4×–8.0×

EV / EBITDA

not reported for this company

P / B

not reported for this company

VTIX cohort median p25–p7536 peersvalues clipped at p1/p99 before rankingeach row scaled to its own range

The other side

No material counter-signal in the checked set: reverse-DCF implied growth, historical FCF CAGR, per-year FCF growth distribution, reporting-basis breaks, discount rate used, free-cash-flow basis (stock comp charged?).

Missing from our data, so excluded from this answer: free_cash_flow.

Basis: FY2026Source: SEC EDGAR XBRL

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VTIX vs. Computer Peripheral Equipment, NEC peers

Ranked against 36 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.

Where it ranks

top thirdmiddlebottompeer median

ValuationCheaper than peers scores higher

P / E

VTIX — · med 36.5× · p25–p75 22.3×–67.7×

not enough peer data

—

P / S

VTIX 6.2× · med 3.7× · p25–p75 1.4×–8.0×

38th pct

EV / EBITDA

VTIX — · med 29.4× · p25–p75 16.0×–44.0×

not enough peer data

—

P / B

VTIX — · med 4.1× · p25–p75 2.1×–12.2×

not enough peer data

—

GrowthLatest fiscal-year revenue vs prior year

Revenue growth (YoY)

VTIX 18.4% · med 11.1% · p25–p75 4.7%–23.1%

73rd pct

ProfitabilityMargins vs the sector

Gross margin

VTIX 24.6% · med 49.6% · p25–p75 41.2%–70.4%

12th pct

Operating margin

VTIX -243% · med 6.7% · p25–p75 0.5%–22.3%

3rd pct

Net margin

VTIX -395% · med 5.0% · p25–p75 0.2%–19.5%

3rd pct

FCF margin

VTIX -223% · med 15.2% · p25–p75 5.1%–25.5%

3rd pct

Returns on capitalHow hard the capital works

Return on equity

VTIX — · med 9.6% · p25–p75 -1.9%–32.4%

not enough peer data

—

Return on invested capital

VTIX -174% · med 10.2% · p25–p75 0.4%–25.5%

3rd pct

LeverageLess debt scores higher

Net debt / EBITDA

VTIX — · med 0.3× · p25–p75 -1.3×–1.9×

not enough peer data

—

13F convictionInstitutional breadth & ownership

13F holders

VTIX 17 · med 331 · p25–p75 185–1,763

3rd pct

Institutional ownership

VTIX 10.6% · med 69.1% · p25–p75 52.7%–93.3%

4th pct

Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.

Peer table

Click a column to sort · latest FY

Company	Mkt cap ▼	P/E	EV/EBITDA	P/S	Rev gr	Gross	Net	ROE	ROIC	Net D/EBITDA	13F
AAPLApple Inc.	$5.02T	46.1×	35.1×	12.1×	6.4%	46.9%	26.9%	152%	68.1%	0.4×	5,963
CSCOCISCO SYSTEMS, INC.	$422.9B	32.2×	27.7×	6.7×	11.8%	64.5%	21.0%	26.4%	16.6%	1.4×	3,939
DELLDell Technologies Inc.	$308.9B	56.0×	29.4×	2.7×	18.8%	20.0%	5.2%	-240%	20.4%	1.8×	2,058
PANWPalo Alto Networks Inc	$284.1B	—	181.6×	24.7×	24.5%	70.4%	2.7%	1.1%	1.1%	-1.6×	2,859
IBMINTERNATIONAL BUSINESS…	$236.9B	22.5×	23.0×	3.5×	7.6%	58.2%	15.7%	32.4%	11.3%	3.9×	3,544
ANETArista Networks, Inc.	$232.5B	67.0×	58.7×	25.8×	28.6%	64.1%	39.0%	28.4%	28.4%	-0.5×	2,177
SNDKSandisk Corp	$199.2B	18.7×	15.5×	9.8×	175%	71.5%	56.5%	72.7%	72.7%	-0.4×	1,763
STXSeagate Technology Hol…	$158.5B	50.1×	36.7×	13.0×	34.1%	45.6%	26.1%	147%	55.5%	0.4×	1,888
WDCWESTERN DIGITAL CORP	$141.7B	15.6×	29.5×	11.0×	35.7%	48.9%	72.9%	106%	85.9%	0.1×	1,791
FTNTFortinet, Inc.	$127.7B	71.9×	56.4×	18.8×	14.2%	80.5%	27.3%	150%	83.0%	-0.7×	1,531
HPEHewlett Packard Enterp…	$77.2B	—	40.8×	2.3×	13.8%	—	0.2%	0.2%	0.1%	7.2×	1,400
PEverpure, Inc.	$43.6B	238.1×	170.0×	11.9×	15.6%	70.4%	5.1%	13.0%	13.0%	-3.4×	—
NTAPNetApp, Inc.	$42.7B	34.2×	23.3×	6.8×	5.6%	78.5%	20.5%	94.4%	33.2%	0.2×	931
HPQHP INC	$28.2B	11.8×	8.4×	0.5×	3.2%	20.6%	4.6%	-731%	27.1%	1.5×	1,047
FFIVF5, INC.	$26.0B	38.9×	28.7×	8.4×	9.7%	81.4%	22.4%	19.3%	19.3%	-1.6×	800
SMCISuper Micro Computer, …	$23.4B	10.9×	7.0×	0.6×	77.8%	10.8%	5.7%	15.4%	12.0%	-1.2×	771
LOGILOGITECH INTERNATIONAL…	$15.8B	23.0×	16.8×	3.3×	6.3%	43.2%	14.7%	32.2%	32.2%	-2.1×	377
NATLNCR Atleos Corp	$3.5B	21.9×	7.6×	0.8×	1.1%	—	3.7%	40.2%	5.1%	3.0×	347
EXTREXTREME NETWORKS INC	$3.0B	72.7×	37.3×	2.3×	12.6%	61.5%	3.3%	47.5%	16.7%	-0.6×	331
DGIIDIGI INTERNATIONAL INC	$2.9B	69.7×	33.2×	6.6×	1.5%	62.9%	9.5%	6.4%	5.1%	1.5×	263
DBDDIEBOLD NIXDORF, Inc	$2.3B	26.8×	7.8×	0.6×	1.5%	25.3%	2.5%	8.6%	4.6%	1.5×	207
ATENA10 Networks, Inc.	$1.8B	44.0×	31.7×	6.3×	11.0%	79.3%	14.5%	19.9%	9.8%	2.4×	298
OMCLOMNICELL, INC.	$1.7B	—	17.3×	1.4×	6.5%	42.5%	0.2%	0.2%	0.2%	-2.3×	292
CRSRCorsair Gaming, Inc.	$1.5B	—	94.7×	1.0×	11.9%	28.9%	-1.1%	-2.6%	-2.1%	1.5×	215
VYXNCR Voyix Corp	$1.1B	27.2×	7.8×	0.4×	-4.6%	—	2.3%	6.5%	3.0%	3.4×	290
VTIXVirtuix Holdings Inc.	$26M	—	—	6.2×	18.4%	24.6%	-395%	—	-174%	—	17

Peers = companies sharing VTIX's sector (Computer Peripheral Equipment, NEC) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.

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Open-market buys

$0 · 0 holders

Discretionary sales

$3.4m · 3 holders

10b5-1 plan sales

$7k · scheduled in advance

Filed late

2 of 39 filings

Shares held by reporting insiders1 → 9 insiders reporting — no comparable change

2026-03-06 · 507,4882026-09-29 · 9,164,172 (9 insiders)

Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.

Date	Insider	What it was	Shares	Price	Value
2026-09-29	De Charette Ugo Director	Grant	83,333	$0.00	$0
2026-09-29	2 co-filers Chief Financial Officer	Grant	100,000	$0.00	$0
2026-09-28	2 co-filers Group filing	Open-market sale	8,700	$1.19	$10k
2026-09-24	Cunningham John A. Director	Grant	126,050	$0.00	$0
2026-09-24	Read Randolph C

How this is measured

Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.

Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.

Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.

The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.

“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.

Insider activity is descriptive. Nothing here is investment advice.

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Virtuix Holdings Inc. Class A Common Stock (VTIX)

Deep analysis

What backs the price

How a revenue dollar becomes profit

Why ROE is -1531.7%

Debt structure

How profit responds to sales

Common-size income statement

How the ratios & debt developed

Financials

Revenue → Profit Flow

Reverse DCF — what growth does the price assume?

Is the business good?

Are the earnings real?

Can it survive?

What's priced in?

Dividends & Returns

Is the payout covered?

Dividends + buybacks, per year

Capital Allocation

Where the cash went

Reinvest vs. return cash

Return on reinvestment

Deployment per year

Debt & Leverage

When the debt comes due · $14.6M scheduled

Capital structure over time

Net debt / EBITDA

Debt servicing

Liquidity

Short-term vs long-term debt

VTIX vs. Computer Peripheral Equipment, NEC peers

Where it ranks

Peer table

Ownership Map

Institutional Trends (2 Quarters)

Institutional Holders

Institutional Holders

Ownership Map

Institutional Trends (2 Quarters)

Reverse DCF — what growth does the price assume?

Dividends & Returns

Is the payout covered?

Dividends + buybacks, per year

Capital Allocation

Where the cash went

Reinvest vs. return cash

Return on reinvestment

Deployment per year

Deep analysis

What backs the price

How a revenue dollar becomes profit

Why ROE is -1531.7%

Debt structure

How profit responds to sales

Common-size income statement

How the ratios & debt developed

Debt & Leverage

When the debt comes due · $14.6M scheduled

Capital structure over time

Net debt / EBITDA

Debt servicing

Liquidity

Short-term vs long-term debt

Financials

Revenue → Profit Flow

VTIX vs. Computer Peripheral Equipment, NEC peers

Where it ranks

Peer table

Is the business good?

Are the earnings real?

Can it survive?

What's priced in?