# Rani Therapeutics Holdings, Inc.: overview
RANI · Nasdaq · CIK 1856725 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31
Pages: [Overview](/companies/rani.md) · [Financials](/companies/rani/financials.md) · [Filings](/companies/rani/filings.md) · [Insiders](/companies/rani/insiders.md)
Latest reported revenue: [$1.7m](/filings/0001193125-26-349245.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 13, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001193125-26-349245).
## Last eight quarters
| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $k | [0.0](/filings/0001193125-25-269774.md) | [1,028 d](/filings/0001193125-26-126417.md) | [172](/filings/0001193125-26-226703.md) | [0.0](/filings/0001193125-26-349245.md) | [0.0](/filings/0001193125-25-269774.md) | [1,461 d](/filings/0001193125-26-126417.md) | [1,708](/filings/0001193125-26-226703.md) | [1,708](/filings/0001193125-26-349245.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | [(1455.1%) d](/filings/0001193125-26-126417.md) | [(6984.3%)](/filings/0001193125-26-226703.md) | not reported | not reported | [(584.2%) d](/filings/0001193125-26-126417.md) | [(488.2%)](/filings/0001193125-26-226703.md) | [(516.9%)](/filings/0001193125-26-349245.md) |
| Net margin | % | not reported | [(870.3%) d](/filings/0001193125-26-126417.md) | [(4223.3%)](/filings/0001193125-26-226703.md) | not reported | not reported | [(705.3%) d](/filings/0001193125-26-126417.md) | [(411.8%)](/filings/0001193125-26-226703.md) | [(432.7%)](/filings/0001193125-26-349245.md) |
| Diluted EPS | $ per share | [(0.24)](/filings/0001193125-25-269774.md) | not reported | [(0.22)](/filings/0001193125-26-226703.md) | [(0.18)](/filings/0001193125-26-349245.md) | [(0.12)](/filings/0001193125-25-269774.md) | not reported | [(0.04)](/filings/0001193125-26-226703.md) | [(0.04)](/filings/0001193125-26-349245.md) |
| Free cash flow | $k | [(8,535) d](/filings/0001193125-25-269774.md) | [(8,686) d](/filings/0001193125-26-126417.md) | [(8,200)](/filings/0001193125-26-226703.md) | [(5,833) d](/filings/0001193125-26-349245.md) | [(5,063) d](/filings/0001193125-25-269774.md) | [294 d](/filings/0001193125-26-126417.md) | [(6,512)](/filings/0001193125-26-226703.md) | [(9,058) d](/filings/0001193125-26-349245.md) |
- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.
## Last five fiscal years
| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [2.7](/filings/0000950170-23-009178.md) | [0.0](/filings/0000950170-23-009178.md) | [0.0](/filings/0000950170-25-047740.md) | [1.0](/filings/0001193125-26-126417.md) | [1.6](/filings/0001193125-26-126417.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(1899.1%)](/filings/0000950170-23-009178.md) | not reported | not reported | [(5186.2%)](/filings/0001193125-26-126417.md) | [(2346.0%)](/filings/0001193125-26-126417.md) |
| Net margin | % | [(306.6%)](/filings/0000950170-23-009178.md) | not reported | not reported | [(2920.0%)](/filings/0001193125-26-126417.md) | [(1817.1%)](/filings/0001193125-26-126417.md) |
| Diluted EPS | $ per share | [(0.43)](/filings/0000950170-23-009178.md) | [(1.28)](/filings/0000950170-24-034163.md) | [(1.33)](/filings/0000950170-25-047740.md) | [(1.05)](/filings/0001193125-26-126417.md) | [(0.45)](/filings/0001193125-26-126417.md) |
| Free cash flow | $m | [(32.8)](/filings/0000950170-23-009178.md) | [(48.1)](/filings/0000950170-24-034163.md) | [(52.5)](/filings/0000950170-25-047740.md) | [(35.8)](/filings/0001193125-26-126417.md) | [(18.8)](/filings/0001193125-26-126417.md) |
- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.
Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.
## Insider purchases and sales
The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/rani/insiders.md)
None in coverage.
## Funds that report holding it
From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)
| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [SAMSARA BIOCAPITAL, LLC](/funds/1744967.md) | 2026-06-30 | $7.9m | 10,369,159 | | Added +1,869,159 |
| [RA CAPITAL MANAGEMENT, L.P.](/funds/1346824.md) | 2026-06-30 | $6.5m | 8,500,000 | | Unchanged |
| [AWM Investment Company, Inc.](/funds/1535264.md) | 2026-06-30 | $5.7m | 7,500,000 | | Added +1,000,000 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $3.5m | 4,562,985 | | Reduced −59,582 |
| [SymBiosis Capital Partners, LLC](/funds/2006045.md) | 2026-03-31 | $2.7m | 3,667,585 | | Not compared |
| [Longaeva Partners L.P.](/funds/2054122.md) | 2026-06-30 | $1.8m | 2,329,459 | | Unchanged |
| [Polar Asset Management Partners Inc.](/funds/1326389.md) | 2026-06-30 | $1.8m | 2,318,542 | | New +2,318,542 |
| [Siren, L.L.C.](/funds/2005245.md) | 2026-06-30 | $1.5m | 2,000,000 | | Unchanged |
| [HEIGHTS CAPITAL MANAGEMENT, INC](/funds/1081698.md) | 2026-06-30 | $710.7k | 934,580 | | New +934,580 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $677.6k | 890,618 | | Reduced −12,680 |
## Recent filings
[All 380 filings](/companies/rani/filings.md)
| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-13 | 16:16 ET | [10-Q](/filings/0001193125-26-349245.md) | Quarterly report, period 2026-06-30 | 0001193125-26-349245 |
| 2026-08-13 | 16:11 ET | [8-K](/filings/0001193125-26-349197.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-349197 |
| 2026-08-04 | 08:05 ET | [8-K](/filings/0001193125-26-331594.md) | 5.02 Departure or appointment of officers or directors | 0001193125-26-331594 |
| 2026-06-30 | 18:54 ET | [8-K](/filings/0001856725-26-000003.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001856725-26-000003 |
| 2026-05-29 | 18:12 ET | [8-K](/filings/0001193125-26-245636.md) | 5.07 Shareholder vote results | 0001193125-26-245636 |
| 2026-05-28 | 17:47 ET | [SCHEDULE 13D/A](/filings/0001699737-26-000014.md) | Ownership report, active investor, amended | 0001699737-26-000014 |
| 2026-05-27 | 20:41 ET | [8-K](/filings/0001193125-26-239977.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-239977 |
| 2026-05-15 | 16:10 ET | [10-Q](/filings/0001193125-26-226703.md) | Quarterly report, period 2026-03-31 | 0001193125-26-226703 |
| 2026-05-15 | 16:08 ET | [8-K](/filings/0001193125-26-226691.md) | 2.02 Results of operations; 3.01 Delisting notice; 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001193125-26-226691 |
| 2026-04-16 | 16:46 ET | [DEF 14A](/filings/0001140361-26-015157.md) | Proxy statement, period 2026-05-28 | 0001140361-26-015157 |
## Latest annual report
[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001193125-26-126417.md), filed Mar 26, 2026.
## Forecast league
Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/2ecb157d-c187-4477-97e0-82c2548d7d8a)
## About the filer
- CIK: 1856725
- Tickers: RANI
- Exchange: Nasdaq
- SIC code: 2834 Pharmaceutical Preparations
- State of incorporation: CA
- Filer category: Non-accelerated filer
Smaller reporting company
Emerging growth company
Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:49 ET. No prices; not investment advice.