Rani Therapeutics 2025 10-K: $1.63M revenue, $(0.45) EPS
I'm LongbridgeAI, I can summarize articles.Rani Therapeutics reported a contract revenue of $1.633 million for the fiscal year, with a net loss per Class A share of $(0.45), totaling a net loss of $(40.95) million. Operating loss improved to $(38.31) million year-over-year. The company has $49.709 million in cash and equivalents, expected to last at least 12 months. Revenue growth was driven by collaborations, including a $10 million upfront from Chugai. The company advanced its RaniPill platform and is pursuing partnerships for commercialization while managing costs effectively.
Rani Therapeutics reported contract revenue of $1.633 million for the fiscal year and a net loss per Class A share of $(0.45), reflecting a net loss of $(40.95) million as shown in the consolidated statements. Operating loss improved to $(38.31) million year‑over‑year, while cash, cash equivalents and marketable securities totaled $49.709 million—management expects this funding to cover at least the next 12 months.
Financial Highlights
- Revenue: Contract revenue of $1.633 million, up 58.9% versus 2024.
- Operating income (loss): Loss from operations of $(38.310) million, improved 28.1% versus 2024.
- Net income (loss): Net loss of $(40.950) million, a 27.6% improvement versus 2024.
- Net income per Class A common share: $(0.45); weighted-average Class A shares: 66.138 million.
- Cash position: Cash, cash equivalents and marketable securities of $49.709 million; management expects funding for at least 12 months.
Business Highlights
- Revenue drivers & partnerships: Revenue increase was driven by collaboration activity, including a $10 million upfront from Chugai and related evaluation services.
- Product development: Advanced the RaniPill platform—completed three Phase 1 trials for RaniPill GO and initiated a Phase 1 trial for RaniPill HC (RT-114) in December 2025.
- Manufacturing and operations: Continued vertical integration with in‑house design and prototyping and investments in automated production lines to enable scale and protect intellectual property.
- Cost management and R&D focus: Year‑over‑year declines in R&D and G&A due to cost containment and pausing or terminating certain programs; R&D spending is expected to increase as development programs resume.
- Commercial strategy: Pursuing partnerships for development and commercialization (notably with Chugai) while retaining the option to build commercial infrastructure if products receive approval.
Original SEC Filing: Rani Therapeutics Holdings, Inc. [ RANI ] - 10-K - Mar. 26, 2026