Rani Therapeutics Holdings, Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 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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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net loss | $(25,242) | $(31,876) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 6,723 | 9,560 |
| Depreciation and amortization | 436 | 714 |
| Allowance for expected credit losses | 82 | — |
| Non-cash operating lease expense | 1,431 | 1,427 |
| Amortization of debt discount and issuance costs | — | 174 |
| Net accretion and amortization of investments in marketable securities | (732) | (158) |
| Warrant issued for services provided | — | 152 |
| Warrant modification expense | — | 15 |
| Changes in operating assets and liabilities: | ||
| Contract asset | — | 428 |
| Prepaid expenses and other current assets | 341 | 866 |
| Accounts payable | 82 | 1,108 |
| Accrued expenses and other current liabilities | 149 | 8 |
| Deferred revenue | (5,123) | — |
| Operating lease liabilities | (1,431) | (1,426) |
| Net cash used in operating activities | (23,284) | (19,008) |
| Cash flows from investing activities | ||
| Proceeds from maturities of marketable securities | 63,041 | 26,750 |
| Purchases of marketable securities | (72,957) | (2,720) |
| Purchases of property and equipment | (230) | (88) |
| Net cash (used in)/provided by investing activities | (10,146) | 23,942 |
| Cash flows from financing activities | ||
| Proceeds from exercise of warrants for common stock, net of issuance costs | — | 3,869 |
| Proceeds from issuance of common stock and pre-funded warrants in connection with the May 2026 Securities Purchase Agreement, net of issuance costs | 18,359 | — |
| Proceeds from issuance of common stock and pre-funded warrants in connection with the July 2025 Securities Purchase Agreement, net of issuance costs | — | 2,811 |
| Exercise of Pre-funded Warrants in connection with the Private Placement, net of issuance costs | 5 | — |
| Issuance of common stock under employee stock purchase plan | 54 | 46 |
| Proceeds from employee stock purchase plan | — | 10 |
| Proceeds from the exercise of stock options | 62 | — |
| Tax withholdings paid on behalf of employees for net share settlement | (48) | (38) |
| Repayment of debt | — | (11,250) |
| Net cash provided by/(used in) financing activities | 18,432 | (4,552) |
| Net (decrease)/increase in cash, cash equivalents and restricted cash equivalents | (14,998) | 382 |
| Cash, cash equivalents and restricted cash equivalents, beginning of period | 18,818 | 4,262 |
| Cash, cash equivalents and restricted cash equivalents, end of period | $3,820 | $4,644 |
| Supplemental disclosures of non-cash investing and financing activities | ||
| Interest income receivable included in prepaid expenses and other current assets | $220 | $13 |
| Exchanges of non-corresponding Class A Units of Rani LLC | $— | $63 |
| Property and equipment purchases included in accounts payable | $63 | $— |
| Property and equipment purchases included in accrued expenses | $66 | $— |
| Unrealized loss on short-term investments | $(71) | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.