VANI revenueFY2025$0
VANI revenue was $0 for fiscal 2025 (ended Dec 31, 2025), compared with $0 in fiscal 2024.
Vivani Medical Inc. (VANI) financials
For fiscal 2025 (ended Dec 31, 2025), Vivani Medical Inc. reported $0 of revenue and -$26.61M of net income.
- Revenue, FY2025
- $0
- Net income, FY2025
- -$26.61M
- Free cash flow, FY2025
- -$25.49M
- EPS, diluted, FY2025
- -$0.43
- Cash
- $19.89M
- Market cap
- $96.5M
FY2016FY2025
FY2016FY2025
FY2016FY2025
VANI revenue and earnings growth
VANI net incomeQ2 2026-$6.37M
VANI net income was -$6.37M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$7.14M a year earlier. For the full fiscal 2025 it was -$26.61M, compared with -$23.49M in fiscal 2024.
VANI EPSQ2 2026-$0.07
VANI diluted EPS was -$0.07 in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$0.43, compared with -$0.43 in fiscal 2024.
VANI free cash flowQ2 2026-$6.13M
VANI free cash flow was -$6.13M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$6.16M a year earlier. For the full fiscal 2025 it was -$25.49M, compared with -$21.34M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | - | $475.0K | $550.0K | $16.0K | $3.38M | $6.90M | $7.96M | $3.98M |
| Cost of revenue | - | - | - | - | $130.0K | $500.0K | $2.15M | $4.89M | $5.12M | $10.08M |
| Gross profit | - | - | - | - | $130.0K | $500.0K | $1.23M | $2.01M | $2.85M | -$6.09M |
| Research and development | $18.13M | $15.74M | $16.97M | $14.17M | $11.00M | $4.84M | $13.14M | $10.01M | $7.89M | $5.35M |
| Selling, general and admin | $9.43M | $8.93M | $10.00M | $7.07M | $2.32M | $5.94M | $9.23M | $10.69M | $10.93M | $10.08M |
| Operating income | -$27.56M | -$24.68M | -$26.96M | -$21.24M | -$13.32M | -$14.90M | -$33.95M | -$35.18M | -$28.61M | -$33.21M |
| Pre-tax income | -$26.61M | -$23.49M | - | - | - | - | - | - | - | - |
| Income tax | - | $2.0K | - | - | - | - | $0 | $0 | - | - |
| Net income | -$26.61M | -$23.49M | -$25.65M | -$13.89M | -$12.77M | -$14.88M | -$33.59M | -$35.09M | -$28.52M | -$33.18M |
| EPS, basic | -$0.43 | -$0.43 | -$0.50 | - | -$0.27 | -$0.72 | -$2.28 | -$4.23 | -$4.24 | -$6.72 |
| EPS, diluted | -$0.43 | -$0.43 | -$0.50 | - | -$0.27 | -$0.72 | -$2.28 | -$4.23 | -$4.24 | -$6.72 |
| Diluted shares | 62.4M | 55.0M | 50,853 | - | 32.8M | 20.6M | 14.7M | 8.3M | 6.8M | 4.9M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $16.23M | $18.35M | $20.65M | $46.44M | $2.18M | $2.08M | $11.33M | $4.47M | $7.84M | $10.88M |
| Receivables | - | - | - | - | - | - | $455.0K | $504.0K | $1.83M | $274.0K |
| Inventory | - | - | - | - | - | - | $1.03M | $3.25M | $2.70M | $3.42M |
| Current assets | $17.90M | $20.44M | $23.06M | $47.53M | $2.47M | $4.27M | $13.11M | $9.62M | $13.16M | $15.28M |
| Total assets | $39.39M | $41.56M | $45.80M | $51.13M | $5.45M | $4.46M | $16.60M | $10.68M | $14.50M | $16.81M |
| Current liabilities | $6.60M | $5.99M | $5.72M | $6.82M | $2.09M | $5.13M | $6.96M | $7.60M | $6.62M | $5.66M |
| Short-term debt | - | - | - | - | - | $2.20M | - | - | - | - |
| Total liabilities | $23.66M | $23.95M | $25.04M | $6.82M | $2.99M | $5.13M | $9.32M | $7.60M | $6.62M | $5.66M |
| Shareholders' equity | $15.73M | $17.61M | $20.76M | $44.31M | $2.46M | $1.95M | $7.28M | $3.08M | $7.88M | $11.15M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$24.32M | -$20.79M | -$23.70M | -$18.79M | -$10.95M | -$16.82M | -$27.63M | -$29.81M | -$23.95M | -$25.07M |
| Capital expenditures | $1.17M | $556.0K | $887.0K | $338.0K | $572.0K | $330.0K | $493.0K | $163.0K | $265.0K | $490.0K |
| Free cash flow | -$25.49M | -$21.34M | -$24.59M | -$19.13M | -$11.52M | -$17.15M | -$28.12M | -$29.97M | -$24.21M | -$25.56M |
| Investing cash flow | -$1.17M | -$556.0K | -$887.0K | -$338.0K | -$572.0K | $68.0K | -$493.0K | -$163.0K | -$265.0K | -$490.0K |
| Financing cash flow | $23.27M | $19.05M | $133.0K | $63.39M | $11.62M | $8.60M | $34.99M | $26.60M | $21.17M | $20.45M |
| Stock-based compensation | $1.48M | $1.61M | $1.86M | $1.30M | $1.67M | $421.0K | $2.92M | $3.59M | $3.78M | $3.37M |
| Depreciation and amortization | $424.0K | $400.0K | $357.0K | $381.0K | $345.0K | $164.0K | $397.0K | $435.0K | $457.0K | $432.0K |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | -13.6% | 3337.5% | -99.5% | -51.0% | -13.4% | 99.8% | -55.2% |
| Gross margin | - | - | - | - | 23.6% | 3125.0% | 36.3% | 29.1% | 35.7% | -152.8% |
| Operating margin | - | - | - | -4471.8% | -2422.4% | -93100.0% | -1004.9% | -510.2% | -359.2% | -833.4% |
| Net margin | - | - | - | -2924.0% | -2322.4% | -93000.0% | -994.1% | -508.9% | -358.1% | -832.6% |
| Free cash flow margin | - | - | - | -4026.3% | -2095.1% | -107200.0% | -832.3% | -434.6% | -304.0% | -641.4% |
| Return on equity | -169.2% | -133.4% | -123.6% | -31.3% | -518.2% | -763.1% | -461.7% | -1137.9% | -361.8% | -297.6% |
| Return on assets | -67.5% | -56.5% | -56.0% | -27.2% | -234.2% | -333.6% | -202.4% | -328.5% | -196.7% | -197.4% |
| Current ratio | 2.71 | 3.41 | 4.03 | 6.97 | 1.18 | 0.83 | 1.88 | 1.27 | 1.99 | 2.70 |
Income statement
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | $0 | $0 | $0 | $0 | - | - | - | - |
| Research and development | $4.46M | $4.39M | $4.63M | $4.52M | $4.76M | $4.22M | $4.30M | $4.20M | $3.51M | $3.73M | $4.71M | $4.44M |
| Selling, general and admin | $2.42M | $2.43M | $2.18M | $2.21M | $2.70M | $2.34M | $2.16M | $2.11M | $2.17M | $2.50M | $1.51M | $2.70M |
| Operating income | -$6.87M | -$6.82M | -$6.81M | -$6.72M | -$7.46M | -$6.56M | -$6.46M | -$6.31M | -$5.68M | -$6.23M | -$6.22M | -$7.14M |
| Net income | -$6.37M | -$6.78M | -$6.63M | -$6.53M | -$7.14M | -$6.30M | -$6.05M | -$6.04M | -$5.36M | -$6.04M | -$6.03M | -$6.78M |
| EPS, basic | -$0.07 | -$0.08 | -$0.09 | -$0.11 | -$0.12 | -$0.11 | -$0.10 | -$0.11 | -$0.10 | -$0.12 | - | -$0.13 |
| EPS, diluted | -$0.07 | -$0.08 | -$0.09 | -$0.11 | -$0.12 | -$0.11 | -$0.10 | -$0.11 | -$0.10 | -$0.12 | - | -$0.13 |
| Diluted shares | 87.1M | 81.3M | - | 59.7M | 59.2M | 59.2M | - | 55.2M | 55.0M | 52.2M | - | 50.8M |
Balance sheet
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $19.89M | $19.75M | $16.23M | $2.63M | $6.79M | $13.01M | $18.35M | $19.65M | $24.92M | $29.65M | $20.65M | $24.82M |
| Receivables | - | $12.0K | - | - | - | - | - | - | - | - | - | - |
| Current assets | $21.64M | $21.55M | $17.90M | $4.17M | $8.71M | $14.85M | $20.44M | $21.40M | $26.34M | $31.50M | $23.06M | $30.68M |
| Total assets | $41.64M | $42.35M | $39.39M | $25.05M | $28.91M | $35.45M | $41.56M | $42.90M | $48.22M | $53.79M | $45.80M | $53.32M |
| Current liabilities | $6.66M | $6.78M | $6.60M | $6.83M | $6.72M | $6.20M | $5.99M | $6.27M | $5.78M | $6.14M | $5.72M | $7.43M |
| Total liabilities | $22.67M | $23.27M | $23.66M | $23.74M | $24.00M | $23.83M | $23.95M | $24.56M | $24.40M | $25.08M | $25.04M | $27.11M |
| Shareholders' equity | $18.97M | $19.09M | $15.73M | $1.31M | $4.91M | $11.62M | $17.61M | $18.33M | $23.82M | $28.71M | $20.76M | $26.21M |
Cash flow
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.04M | -$6.20M | -$6.72M | -$6.35M | -$6.09M | -$5.16M | -$5.81M | -$5.66M | -$4.80M | -$4.51M | -$3.48M | -$7.70M |
| Capital expenditures | $99.0K | $3.0K | $274.0K | $823.0K | $71.0K | $5.0K | $296.0K | $41.0K | $37.0K | $182.0K | $743.0K | $63.0K |
| Free cash flow | -$6.13M | -$6.20M | -$6.99M | -$7.17M | -$6.16M | -$5.17M | -$6.11M | -$5.70M | -$4.84M | -$4.69M | -$4.22M | -$7.76M |
| Investing cash flow | -$99.0K | -$3.0K | -$274.0K | -$823.0K | -$71.0K | -$5.0K | -$296.0K | -$41.0K | -$37.0K | -$182.0K | -$743.0K | -$63.0K |
| Financing cash flow | $5.83M | $9.71M | $20.59M | $2.95M | -$95.0K | -$170.0K | $4.83M | $427.0K | $109.0K | $13.69M | $23.0K | $103.0K |
| Stock-based compensation | $313.0K | $312.0K | $467.0K | $276.0K | $391.0K | $350.0K | $402.0K | $472.0K | $383.0K | $353.0K | $460.0K | $511.0K |
| Depreciation and amortization | - | $130.0K | $115.0K | $105.0K | $100.0K | $102.0K | $89.0K | $107.0K | $103.0K | $99.0K | $98.0K | $71.0K |
Key ratios
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 3.25 | 3.18 | 2.71 | 0.61 | 1.30 | 2.40 | 3.41 | 3.41 | 4.55 | 5.13 | 4.03 | 4.13 |
Source: XBRL data Vivani Medical Inc. files with the SEC, latest filing dated Aug 13, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 1-for-8, first reported Mar 19, 2020.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
VANI peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| VANI | $0 | - | -$26.61M | - | $96.5M |
| MDT | $37.54B | +9.8% | $5.24B | 14.0% | $130.22B |
| LIVN | $1.51B | +11.7% | $196.06M | 13.0% | $4.96B |
| ITGR | $1.83B | -0.3% | $103.70M | 5.7% | $4.30B |
| TMDX | $727.65M | +28.5% | $144.45M | 19.9% | $3.06B |
| AXGN | $266.93M | +24.3% | -$31.92M | -12.0% | $2.99B |
| CNMD | $1.37B | +1.6% | $73.43M | 5.4% | $1.53B |
| CBLL | $108.72M | +31.3% | -$73.88M | -68.0% | $1.03B |
| INMD | $370.50M | -6.2% | $93.83M | 25.3% | $765.9M |
VANI FAQ
7 questionsWhat is VANI revenue?
Vivani Medical Inc. (VANI) reported $0 of revenue for fiscal 2025 (ended Dec 31, 2025).Is VANI profitable?
No. Vivani Medical Inc. reported a net loss of $26.61M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does VANI have?
Vivani Medical Inc. reported $19.89M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is VANI free cash flow?
Vivani Medical Inc. generated -$25.49M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$24.32M less capital expenditures.What is VANI earnings per share?
Diluted earnings per share were -$0.43 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did VANI last report financial results?
The latest statements here come from Vivani Medical Inc.'s 10-Q filed on Aug 13, 2026, covering the period ended Jun 30, 2026.Where does this VANI financial data come from?
Quantisnow builds these statements from the structured XBRL data Vivani Medical Inc. files with the SEC. It is provided for information only and is not investment advice.