Rani Therapeutics Holdings, Inc.

For the period ended Dec 31, 2025. Filed Mar 26, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 26, 2026

RANI$0.56-2.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Changes in Stockholders’ Equity

Class A Common Stock · Class B Common Stock
	Shares	Amount	Shares	Amount	Additional Paid In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Non-Controlling Interest	Total Stockholders' Equity
Balance at December 31, 2023	26,036	$3	24,116	$2	$85,762	$(12)	$(72,889)	$12,577	$25,443
Issuance of common stock in connection with the October Securities Purchase Agreement, net of issuance costs of $621	3,000	—	—	—	9,379	—	—	—	9,379
Exercise of pre-funded warrants issued in connection with the October Securities Purchase Agreement	333	—	—	—	—	—	—	—	—
Issuance of common stock in connection with the July Securities Purchase Agreement, net of issuance costs of $1,117	2,800	—	—	—	8,883	—	—	—	8,883
Exercise of pre-funded warrants issued in connection with the July Securities Purchase Agreement	447	—	—	—	—	—	—	—	—
Issuance of common stock under employee equity plans, net of shares withheld for tax settlement	395	—	—	—	4	—	—	—	4
Issuance of common stock under employee stock purchase plan	159	—	—	—	304	—	—	—	304
Effect of exchanges of Paired Interests and non-corresponding Class A Units of Rani LLC	260	—	(144)	—	—	—	—	—	—
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC	—	—	—	—	(7,980)	—	—	7,980	—
Stock-based compensation	—	—	—	—	8,537	—	—	7,494	16,031
Net loss	—	—	—	—	—	—	(30,018)	(26,566)	(56,584)
Other comprehensive gain	—	—	—	—	—	17	—	16	33
Balance at December 31, 2024	33,430	$3	23,972	$2	$104,889	$5	$(102,907)	$1,501	$3,493
Exercise of warrants issued in connection with the July 2024 and October 2024 Securities Purchase Agreement, net of issuance costs of $408	5,419	—	—	—	3,869	—	—	—	3,869
Issuance of common stock and pre-funded warrants in connection with the July 2025 Securities Purchase Agreement, net of issuance costs of $189	7,500	1	—	—	2,810	—	—	—	2,811
Issuance of common stock, warrants, and pre-funded warrants in connection with the Private Placement, net of issuance costs of $4,467	42,633	4	—	—	55,784	—	—	—	55,788
Effect of exchanges of Paired Interests and non-corresponding Class A Units of Rani LLC	107	—	(2)	—	—	—	—	—	—
Warrant issued for services provided	—	—	—	—	152	—	—	—	152
Warrant modification expense	—	—	—	—	15	—	—	—	15
Exercise of pre-funded warrants in connection with the Letter Agreement (the Abeyance Shares)	1,161	—	—	—	—	—	—	—	—
Exercise of Series D warrants in connection with the Letter Agreement	6,967	1	—	—	4,529	—	—	—	4,530
Issuance of common stock under employee equity plans, net of shares withheld for tax settlement	267	—	—	—	(59)	—	—	—	(59)
Issuance of common stock from exercise of stock options	10	—	—	—	10	—	—	—	10
Issuance of common stock under employee stock purchase plan	128	—	—	—	61	—	—	—	61
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC	—	—	—	—	(14,050)	—	—	14,050	—
Stock-based compensation	—	—	—	—	7,568	—	—	4,230	11,798
Net loss	—	—	—	—	—	—	(29,673)	(11,277)	(40,950)
Other comprehensive loss	—	—	—	—	—	(4)	—	(2)	(6)
Balance at December 31, 2025	97,622	$9	23,970	$2	$165,578	$1	$(132,580)	$8,502	$41,512

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.