NASDAQ : RANI
Rani Therapeutics Holdings, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 0.6054 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 84.39M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Rani Therapeutics Holdings, Inc. (RANI) reported revenue of 4.88M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.88M | 1.63M | 1.03M | 2.72M | ||
| Gross Profit | 4.88M | 1.63M | 1.03M | 2.72M | ||
| Selling, General & Admin | 19.53M | 19.74M | 23.95M | 26.48M | 26.84M | 27.83M |
| Research & Development | 18.31M | 20.20M | 26.68M | 39.62M | 36.61M | 26.48M |
| Operating Expenses | 37.84M | 39.94M | 50.63M | 66.10M | 63.45M | 54.32M |
| Operating Income | -32.96M | -38.31M | -49.60M | -66.10M | -63.45M | -51.60M |
| Interest Expense | -1.17M | -2.89M | -5.03M | -5.08M | -1.07M | -466.00K |
| Interest & Investment Income | 1.28M | 827.00K | 1.76M | 3.30M | 1.25M | 89.00K |
| Other Non Operating Income (Expenses) | -371.00K | |||||
| EBT Excluding Unusual Items | -32.85M | -40.37M | -52.87M | -67.88M | -63.27M | -52.35M |
| Asset Writedown | -3.71M | |||||
| Other Unusual Items | -576.00K | -576.00K | -700.00K | |||
| Pretax Income | -33.42M | -40.95M | -56.58M | -67.88M | -63.27M | -53.05M |
| Income Tax Expense | 70.00K | 41.00K | ||||
| Earnings From Continuing Operations | -33.42M | -40.95M | -56.58M | -67.88M | -63.34M | -53.09M |
| Minority Interest in Earnings | 3.28M | 11.28M | 26.57M | 33.91M | 32.76M | 44.76M |
| Net Income | -30.14M | -29.67M | -30.02M | -33.97M | -30.59M | -8.33M |
| Net Income to Common | -30.14M | -29.67M | -30.02M | -33.97M | -30.59M | -8.33M |
| Shares Outstanding (Basic) | 138.66M | 66.14M | 28.48M | 25.50M | 23.82M | 19.53M |
| Shares Outstanding (Diluted) | 138.66M | 66.14M | 28.48M | 25.50M | 23.82M | 19.53M |
| EPS (Basic) | -0.22 | -0.45 | -1.05 | -1.33 | -1.28 | -0.43 |
| EPS (Diluted) | -0.22 | -0.45 | -1.05 | -1.33 | -1.28 | -0.43 |
| Free Cash Flow | -20.34M | -18.80M | -35.76M | -52.47M | -48.13M | -32.75M |
| Free Cash Flow Per Share | -0.15 | -0.28 | -1.26 | -2.06 | -2.02 | -1.68 |
| Gross Margin | 100.00% | 100.00% | 100.00% | 100.00% | ||
| Operating Margin | -675.80% | -2,345.99% | -4,824.90% | -1,899.12% | ||
| Profit Margin | -618.02% | -1,817.09% | -2,920.04% | -306.62% | ||
| Free Cash Flow Margin | -417.04% | -1,151.38% | -3,478.99% | -1,205.41% | ||
| EBITDA | -32.24M | -37.41M | -48.57M | -65.28M | -62.90M | -51.10M |
| D&A For EBITDA | 722.00K | 900.00K | 1.03M | 822.00K | 548.00K | 497.00K |
| EBIT | -32.96M | -38.31M | -49.60M | -66.10M | -63.45M | -51.60M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.87M | 18.62M | 3.76M | 5.86M | 27.01M | 117.45M |
| Short-Term Investments | 48.52M | 31.09M | 23.88M | 42.67M | 71.47M | |
| Cash & Short-Term Investments | 53.39M | 49.71M | 27.64M | 48.54M | 98.48M | 117.45M |
| Accounts Receivable | 2.04M | 2.04M | 428.00K | |||
| Other Receivables | 200.00K | 200.00K | ||||
| Receivables | 2.24M | 2.04M | 428.00K | 200.00K | ||
| Prepaid Expenses | 690.00K | 1.37M | 1.18M | 1.61M | 1.94M | 2.14M |
| Restricted Cash | 200.00K | 200.00K | 500.00K | 500.00K | 500.00K | |
| Total Current Assets | 56.52M | 53.32M | 29.74M | 50.85M | 100.92M | 119.59M |
| Property, Plant & Equipment | 4.07M | 5.05M | 6.64M | 6.82M | 7.10M | 4.61M |
| Other Long-Term Assets | 246.00K | 246.00K | 246.00K | 246.00K | ||
| Total Assets | 60.84M | 58.62M | 36.63M | 57.92M | 108.03M | 124.21M |
| Accounts Payable | 1.05M | 309.00K | 1.36M | 648.00K | 1.46M | 1.08M |
| Accrued Expenses | 3.07M | 3.90M | 1.79M | 1.47M | 1.76M | 1.43M |
| Current Portion of Long-Term Debt | 15.00M | 4.90M | ||||
| Current Portion of Leases | 1.33M | 1.59M | 1.46M | 718.00K | 1.01M | |
| Current Unearned Revenue | 5.12M | 6.83M | ||||
| Other Current Liabilities | 67.00K | 46.00K | 283.00K | 254.00K | 591.00K | 126.00K |
| Total Current Liabilities | 10.64M | 12.67M | 19.89M | 7.99M | 4.82M | 2.64M |
| Long-Term Debt | 9.61M | 24.48M | 29.15M | |||
| Long-Term Leases | 2.22M | 2.73M | 3.64M | 59.00K | ||
| Long-Term Unearned Revenue | 1.71M | |||||
| Total Liabilities | 12.86M | 17.11M | 33.14M | 32.47M | 34.02M | 2.64M |
| Common Stock | 13.00K | 11.00K | 5.00K | 5.00K | 5.00K | 5.00K |
| Additional Paid-In Capital | 186.25M | 165.58M | 104.89M | 85.76M | 75.84M | 55.74M |
| Retained Earnings | -147.00M | -132.58M | -102.91M | -72.89M | -38.92M | -8.33M |
| Comprehensive Income & Other | -30.00K | 1.00K | 5.00K | -12.00K | -73.00K | |
| Total Common Equity | 39.23M | 33.01M | 1.99M | 12.87M | 36.85M | 47.41M |
| Minority Interest | 8.75M | 8.50M | 1.50M | 12.58M | 37.15M | 74.16M |
| Shareholders' Equity | 47.98M | 41.51M | 3.49M | 25.44M | 74.00M | 121.57M |
| Total Liabilities & Equity | 60.84M | 58.62M | 36.63M | 57.92M | 108.03M | 124.21M |
| Total Debt | 3.55M | 4.32M | 29.71M | 30.10M | 30.21M | |
| Net Cash (Debt) | 49.84M | 45.39M | -2.07M | 18.44M | 68.27M | 117.45M |
| Net Cash Per Share | 0.36 | 0.69 | -0.07 | 0.72 | 2.87 | 6.01 |
| Filing Date Shares Outstanding | 115.42M | 99.72M | 33.51M | 26.04M | 25.30M | 24.39M |
| Total Common Shares Outstanding | 112.50M | 97.62M | 33.43M | 26.04M | 25.30M | 19.71M |
| Working Capital | 45.88M | 40.65M | 9.85M | 42.86M | 96.11M | 116.95M |
| Book Value Per Share | 0.35 | 0.34 | 0.06 | 0.49 | 1.46 | 2.41 |
| Tangible Book Value | 39.23M | 33.01M | 1.99M | 12.87M | 36.85M | 47.41M |
| Tangible Book Value Per Share | 0.35 | 0.34 | 0.06 | 0.49 | 1.46 | 2.41 |
| Machinery | 4.53M | 4.49M | 4.40M | 4.18M | 2.82M | 1.78M |
| Construction In Progress | 94.00K | 31.00K | 31.00K | 3.90M | 4.42M | 3.87M |
| Leasehold Improvements | 1.66M | 1.66M | 1.66M | 1.59M | 1.55M | 1.23M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -30.14M | -29.67M | -30.02M | -33.97M | -30.59M | -8.33M |
| Depreciation & Amortization | 722.00K | 900.00K | 1.03M | 822.00K | 548.00K | 497.00K |
| Other Amortization | 91.00K | 207.00K | 232.00K | 232.00K | 77.00K | |
| Loss (Gain) From Sale of Assets | 65.00K | |||||
| Asset Writedown & Restructuring Costs | 3.71M | |||||
| Loss (Gain) From Sale of Investments | -631.00K | -278.00K | -1.25M | -2.32M | -851.00K | |
| Stock-Based Compensation | 9.09M | 11.80M | 16.03M | 19.01M | 15.78M | 22.59M |
| Other Operating Activities | -785.00K | -8.63M | -24.76M | -32.87M | -31.99M | -43.58M |
| Change in Accounts Receivable | -2.04M | -1.61M | -428.00K | |||
| Change in Accounts Payable | -1.14M | -1.05M | 711.00K | -595.00K | 163.00K | 543.00K |
| Change in Unearned Revenue | 5.12M | 8.54M | -2.72M | |||
| Change in Other Net Operating Assets | -574.00K | 1.08M | -827.00K | -1.54M | 346.00K | -1.25M |
| Operating Cash Flow | -20.29M | -18.71M | -35.50M | -51.24M | -46.52M | -32.24M |
| Capital Expenditures | -47.00K | -88.00K | -268.00K | -1.23M | -1.62M | -506.00K |
| Investment in Securities | -47.93M | -6.94M | 20.08M | 31.09M | -70.82M | |
| Investing Cash Flow | -47.98M | -7.03M | 19.81M | 29.86M | -72.44M | -506.00K |
| Long-Term Debt Issued | 29.57M | |||||
| Long-Term Debt Repaid | -20.72M | -5.00M | -4.57M | |||
| Net Debt Issued (Repaid) | -13.22M | -20.72M | -5.00M | 29.57M | -4.57M | |
| Issuance of Common Stock | 80.57M | 65.74M | 20.37M | 395.00K | 317.00K | 73.67M |
| Repurchase of Common Stock | -69.00K | -59.00K | -47.00K | -162.00K | -626.00K | |
| Other Financing Activities | -4.66M | -4.66M | -1.74M | -260.00K | 1.72M | |
| Financing Cash Flow | 62.62M | 40.30M | 13.59M | 233.00K | 29.00M | 77.15M |
| Net Cash Flow | -5.65M | 14.56M | -2.10M | -21.14M | -89.95M | 44.40M |
| Free Cash Flow | -20.34M | -18.80M | -35.76M | -52.47M | -48.13M | -32.75M |
| Free Cash Flow Margin | -417.04% | -1,151.38% | -3,478.99% | -1,205.41% | ||
| Free Cash Flow Per Share | -0.15 | -0.28 | -1.26 | -2.06 | -2.02 | -1.68 |
| Levered Free Cash Flow | -8.87M | -6.79M | -15.86M | -26.96M | -24.67M | -11.52M |
| Unlevered Free Cash Flow | -8.24M | -5.19M | -12.95M | -24.01M | -24.08M | -11.23M |
| Cash Interest Paid | 2.12M | 2.12M | 4.11M | 4.18M | 730.00K | 285.00K |
| Cash Income Tax Paid | 35.00K | 48.00K | 73.00K | |||
| Change in Working Capital | 1.36M | 6.96M | -544.00K | -2.14M | 509.00K | -3.43M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 79.33M | 131.69M | 45.64M | 85.92M | 145.85M | 322.29M |
| Enterprise Value | 29.49M | 140.99M | 51.62M | 72.94M | 107.48M | 272.89M |
| Last Close Price | 0.59 | 1.35 | 1.37 | 3.32 | 5.90 | 16.35 |
| PS Ratio | 16.86 | 80.64 | 44.39 | 118.62 | ||
| PB Ratio | 1.69 | 3.17 | 13.06 | 3.38 | 1.97 | 2.65 |
| P/TBV Ratio | 2.10 | 3.99 | 22.91 | 6.68 | 3.96 | 6.80 |
| EV/Sales Ratio | 6.64 | 86.34 | 50.21 | 100.44 | ||
| Debt / Equity Ratio | 0.07 | 0.10 | 8.51 | 1.18 | 0.41 | |
| Net Debt / Equity Ratio | -1.04 | -1.09 | 0.59 | -0.72 | -0.92 | -0.97 |
| Net Debt / EBITDA Ratio | 1.55 | 1.21 | -0.04 | 0.28 | 1.08 | 2.30 |
| Net Debt / FCF Ratio | 2.45 | 2.41 | -0.06 | 0.35 | 1.42 | 3.59 |
| Asset Turnover | 0.12 | 0.03 | 0.02 | 0.03 | ||
| Quick Ratio | 5.23 | 4.08 | 1.41 | 6.10 | 20.45 | 44.49 |
| Current Ratio | 5.31 | 4.21 | 1.50 | 6.37 | 20.96 | 45.30 |
| Return on Equity (ROE) | -172.15% | -181.98% | -391.10% | -136.52% | -64.78% | -54.94% |
| Return on Assets (ROA) | -53.00% | -50.27% | -65.57% | -49.79% | -34.15% | -31.68% |
| Return on Capital Employed (ROCE) | -65.60% | -83.40% | -296.20% | -132.40% | -61.50% | -42.40% |
| Earnings Yield | -38.20% | -22.53% | -65.78% | -39.54% | -20.97% | -2.58% |
| FCF Yield | -24.73% | -14.28% | -78.37% | -61.06% | -33.00% | -10.16% |
| Buyback Yield / Dilution | -321.63% | -132.26% | -11.65% | -7.09% | -21.93% | 58.34% |