diff --git a/capa/features/extractors/vmray/__init__.py b/capa/features/extractors/vmray/__init__.py
index 141a2595..c605c718 100644
--- a/capa/features/extractors/vmray/__init__.py
+++ b/capa/features/extractors/vmray/__init__.py
@@ -12,10 +12,8 @@ from pathlib import Path
 from zipfile import ZipFile
 from collections import defaultdict
 
-import xmltodict
-
 from capa.exceptions import UnsupportedFormatError
-from capa.features.extractors.vmray.models import File, Flog, SummaryV2, StaticData, FunctionCall
+from capa.features.extractors.vmray.models import File, Flog, SummaryV2, StaticData, FunctionCall, xml_to_dict
 
 logger = logging.getLogger(__name__)
 
@@ -37,8 +35,8 @@ class VMRayAnalysis:
 
         # flog.xml contains all of the call information that VMRay captured during execution
         flog_xml = self.zipfile.read("logs/flog.xml", pwd=DEFAULT_ARCHIVE_PASSWORD)
-        flog_json = xmltodict.parse(flog_xml, attr_prefix="")
-        self.flog = Flog.model_validate(flog_json)
+        flog_dict = xml_to_dict(flog_xml)
+        self.flog = Flog.model_validate(flog_dict)
 
         if self.flog.analysis.log_version not in SUPPORTED_FLOG_VERSIONS:
             logger.warning("VMRay feature extractor does not support flog version %s", self.flog.analysis.log_version)
diff --git a/capa/features/extractors/vmray/models.py b/capa/features/extractors/vmray/models.py
index 6d61ce15..6f999744 100644
--- a/capa/features/extractors/vmray/models.py
+++ b/capa/features/extractors/vmray/models.py
@@ -8,6 +8,7 @@
 
 from typing import Dict, List, Union, Optional
 
+import xmltodict
 from pydantic import Field, BaseModel
 from typing_extensions import Annotated
 from pydantic.functional_validators import BeforeValidator
@@ -54,6 +55,10 @@ PARAM_TYPE_INT = (
 )
 
 
+def xml_to_dict(xml):
+    return xmltodict.parse(xml, attr_prefix="")
+
+
 def hexint(value: Union[str, int]) -> int:
     if isinstance(value, str):
         return int(value, 16) if value.startswith("0x") else int(value, 10)
diff --git a/tests/test_vmray_model.py b/tests/test_vmray_model.py
new file mode 100644
index 00000000..0b0d86bf
--- /dev/null
+++ b/tests/test_vmray_model.py
@@ -0,0 +1,59 @@
+# Copyright (C) 2024 Mandiant, Inc. All Rights Reserved.
+# Licensed under the Apache License, Version 2.0 (the "License");
+#  you may not use this file except in compliance with the License.
+# You may obtain a copy of the License at: [package root]/LICENSE.txt
+# Unless required by applicable law or agreed to in writing, software distributed under the License
+#  is distributed on an "AS IS" BASIS, WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+# See the License for the specific language governing permissions and limitations under the License.
+import textwrap
+
+from capa.features.extractors.vmray.models import Param, FunctionCall, xml_to_dict
+
+
+def test_vmray_model_call():
+    call_xml = textwrap.dedent(
+        """
+        <fncall ts="9044" fncall_id="18" process_id="1" thread_id="1" name="sys_time" addr="0xaaaaaaaaaaaaaaaa" from="0xaaaaaaaa">
+            <kernel/>
+            <in>
+                <param name="tloc" type="unknown" value="0x0"/>
+            </in>
+            <out>
+                <param name="ret_val" type="unknown" value="0xaaaaaaaa"/>
+            </out>
+        </fncall>
+        """
+    )
+    call: FunctionCall = FunctionCall.model_validate(xml_to_dict(call_xml)["fncall"])
+
+    assert call.fncall_id == 18
+    assert call.process_id == 1
+    assert call.thread_id == 1
+    assert call.name == "time"
+    assert call.params_in is not None
+    assert call.params_out is not None
+
+
+def test_vmray_model_call_param():
+    param_xml = textwrap.dedent(
+        """
+        <param name="addrlen" type="signed_32bit" value="16"/>
+        """
+    )
+    param: Param = Param.model_validate(xml_to_dict(param_xml)["param"])
+
+    assert param.value == "16"
+
+
+def test_vmray_model_call_param_deref():
+    param_xml = textwrap.dedent(
+        """
+        <param name="buf" type="ptr" value="0xaaaaaaaa">
+            <deref type="str" value="Hello world"/>
+        </param>
+        """
+    )
+    param: Param = Param.model_validate(xml_to_dict(param_xml)["param"])
+
+    assert param.deref is not None
+    assert param.deref.value == "Hello world"