InsiderClue
Stocks · Health care · Pharmaceutical Preparations

Rani Therapeutics Holdings, Inc.

RANI Clue Score36
United States Fiscal year ends December CIK 0001856725
$0.80 +0.88% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $0.80 −95.94% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 30 Jul 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Revenue0.5Operating income−16.5Net income−16.7Fiscal year 2021Revenue2.7 +488.1%Operating income−51.6Net income−8.3EPS, diluted−0.43Fiscal year 2022Revenue0.0 −100.0%Operating income−63.5Net income−30.6EPS, diluted−1.28Fiscal year 2023Revenue0.0Operating income−66.1Net income−34.0EPS, diluted−1.33Fiscal year 2024Revenue1.0Operating income−53.3Net income−30.0EPS, diluted−1.05Fiscal year 2025Revenue1.6 +58.9%Operating income−38.3Net income−29.7EPS, diluted−0.45
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.5 2.7 0.0 0.0 1.0 1.6
Growth +488.1% −100.0% +58.9%
Operating income −16.5 −51.6 −63.5 −66.1 −53.3 −38.3
Net income −16.7 −8.3 −30.6 −34.0 −30.0 −29.7
Growth
EPS, diluted n/a −0.43 −1.28 −1.33 −1.05 −0.45

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2020Operating margin−3,581.0%Net margin−3,615.4%Free cash flow margin−3,497.8%Fiscal year 2021Operating margin−1,899.1%Net margin−306.6%Free cash flow margin−1,205.4%Fiscal year 2022Fiscal year 2023Fiscal year 2024Operating margin−5,186.2%Net margin−2,920.0%Free cash flow margin−3,479.0%Fiscal year 2025Operating margin−2,346.0%Net margin−1,817.1%Free cash flow margin−1,151.4%
FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −3,581.0% −1,899.1% n/a n/a −5,186.2% −2,346.0%
Net margin −3,615.4% −306.6% n/a n/a −2,920.0% −1,817.1%
Free cash flow margin −3,497.8% −1,205.4% n/a n/a −3,479.0% −1,151.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow−15.0Capital expenditure−1.2Free cash flow−16.2Fiscal year 2021Operating cash flow−32.2Capital expenditure−0.5Free cash flow−32.8Fiscal year 2022Operating cash flow−46.5Capital expenditure−1.6Free cash flow−48.1Fiscal year 2023Operating cash flow−51.2Capital expenditure−1.2Free cash flow−52.5Fiscal year 2024Operating cash flow−35.5Capital expenditure−0.3Free cash flow−35.8Fiscal year 2025Operating cash flow−18.7Capital expenditure−0.1Free cash flow−18.8
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −15.0 −32.2 −46.5 −51.2 −35.5 −18.7
Capital expenditure −1.2 −0.5 −1.6 −1.2 −0.3 −0.1
Free cash flow −16.2 −32.8 −48.1 −52.5 −35.8 −18.8
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2020Cash73.1Total debt3.8Net cash (debt)69.3Shareholders’ equity−113.3Fiscal year 2021Cash117.5Total debt0.0Net cash (debt)117.5Shareholders’ equity47.4Debt to equity0.00Fiscal year 2022Cash27.0Total debt29.1Net cash (debt)−2.1Shareholders’ equity36.9Debt to equity0.79Fiscal year 2023Cash5.9Total debt29.4Net cash (debt)−23.5Shareholders’ equity12.9Debt to equity2.28Fiscal year 2024Cash3.8Total debt24.6Net cash (debt)−20.9Shareholders’ equity2.0Debt to equity12.36Fiscal year 2025Cash18.6Total debt0.0Net cash (debt)18.6Shareholders’ equity33.0Debt to equity0.00
FY2020FY2021FY2022FY2023FY2024FY2025
Cash 73.1 117.5 27.0 5.9 3.8 18.6
Total debt 3.8 0.0 29.1 29.4 24.6 0.0
Net cash (debt) 69.3 117.5 −2.1 −23.5 −20.9 18.6
Shareholders’ equity −113.3 47.4 36.9 12.9 2.0 33.0
Debt to equity n/a 0.00 0.79 2.28 12.36 0.00

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025† 31 Dec 2025
Revenue and profit
0.5 2.7 0.0 0.0 1.0 1.6
Growth +488.1% −100.0% +58.9%
12.0 26.5 36.6 39.6 26.7 20.2
5.0 27.8 26.8 26.5 23.9 19.7
−16.5 −51.6 −63.5 −66.1 −53.3 −38.3
Growth
−16.7 −53.0 −63.3 −67.9 n/a n/a
0.0 0.0 0.1 0.0 0.0 0.0
−16.7 −8.3 −30.6 −34.0 −30.0 −29.7
Growth
Per share
n/a −0.43 −1.28 −1.33 −1.05 −0.45
n/a −0.43 −1.28 −1.33 −1.05 −0.45
Growth
n/a 0.0 0.0 0.0 0.0 0.1
n/a 0.0 0.0 0.0 0.0 0.1
Growth +21.9% +7.1% +11.6% +132.3%

† The diluted share count jumps at 2025, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 28.7% a year over five years.
  • Operating margin is up 1,235.0 points on five years ago, at -2,346.0%.
  • A net loss in 6 of 6 years on file.