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MARKETS / NASDAQ / RANI
NASDAQ · PHARMACEUTICAL PREPARATIONS · SMALL CAP

Rani Therapeutics Holdings, Inc. RANI

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.6M
▲ 58.9% YoY
$-29.7M
$-18.8M
In brief

What this company does

We are a clinical stage biotherapeutics company focusing on advancing technologies to enable the administration of biologics and drugs orally, to provide patients, physicians, and healthcare systems with a convenient alternative to painful injections. Our technology comprises a drug-agnostic oral delivery platform, the RaniPill capsule, which is designed to deliver a wide variety of drug substances, including antibodies, proteins, peptides, and oligonucleotides. The RaniPill GO is designed to deliver up to a 3 mg dose of drug in microtablet form with high bioavailability. We are also developing a high-capacity version of the RaniPill capsule known as the RaniPill HC, which is intended to enable delivery of drug payloads up to 200µL in liquid form with high bioavailability. As is common with biotechnology companies, we rely on third-party suppliers for the supply of raw materials and active pharmaceutical ingredients ("APIs") and drug substances required for the production of our product candidates.

Written from the business description in Rani Therapeutics Holdings, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 26 March 2026. Every sentence was checked against that document before publication.

Growth
USD 1.6M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 1.6 · Net income -29.7
-20M202020212022202320242025
Compound annual growth
+28.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +28.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−2508 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -2346.0% · Net -2507.7%
-2000%-4000%202020212022202320242025
ROE
FY2025 · ROE -169.6%
-200%-400%202020212022202320242025

Each USD of equity lost 170 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -18.8
-20M-40M202020212022202320242025

Total assetsUSD 58.6M
EquityUSD 33.0M
CashUSD 18.6M
Gross debtUSD 0.00
Net debtUSD -18.6M
Current ratio4.21×

The company holds more cash than debt.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020
Revenue $B0.00.00.00.00.00.0
Operating income $B−0.0−0.1−0.1−0.1−0.1−0.0
EBITDA $B−0.0−0.1−0.1−0.1−0.1−0.0
Income tax $B0.00.00.00.00.00.0
Net income $B−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.1−0.0−0.0−0.0
EPS, diluted $−0.45−1.05−1.33−1.28−0.43·
Dividend / sh $······
Payout %······
ROE %−169.6−404.1−136.6−72.6··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 23 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 53 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inCalifornia
Fiscal year endsDecember 31
SEC categoryemerging growth company, smaller reporting company
Data on record since2020

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