Rani Therapeutics Holdings, Inc.

For the period ended Sep 30, 2026. Filed Nov 9, 2026.

About this filing

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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Contents

Condensed Consolidated Statements of Changes in Stockholders’ (Deficit)/Equity

CONDENSED Consolidated Statementsof Changes in STOCKHOLDERS’ Equity

Class A Common Stock · Class B Common Stock
	Shares	Amount	Shares	Amount	AdditionalPaid InCapital	AccumulatedOtherComprehensive (Loss)/Gain	AccumulatedDeficit	Non-ControllingInterest	TotalStockholders'Equity
Balance at December 31, 2025	97,622	$9	23,970	$2	$165,578	$1	$(132,580)	$8,502	41,512
Issuance of common stock under employee equity plans, net of shares withheld for tax settlement	91	—	—	—	(32)	—	—	—	(32)
Exercise of Pre-funded Warrants in connection with the Private Placement, net of issuance cost of ($5)	2,100	—	—	—	5	—	—	—	5
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC	—	—	—	—	799	—	—	(799)	—
Stock-based compensation	—	—	—	—	1,665	—	—	419	2,084
Net loss	—	—	—	—	—	—	(7,033)	(982)	(8,015)
Other comprehensive loss	—	—	—	—	—	(9)	—	(2)	(11)
Balance at March 31, 2026	99,813	$9	23,970	$2	$168,015	$(8)	$(139,613)	$7,138	$35,543
Issuance of common stock and pre-funded warrants in connection with the May 2026 Securities Purchase Agreement, net of issuance costs of $1,641	12,477	2	—	—	18,357	—	—	—	18,359
Issuance of common stock under employee equity plans, net of shares withheld for tax settlement	43	—	—	—	(9)	—	—	—	(9)
Issuance of common stock from exercise of stock options	100	—	—	—	62	—	—	—	62
Issuance of common stock under employee stock purchase plan	66	—	—	—	54	—	—	—	54
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC	—	—	—	—	(2,205)	—	—	2,205	—
Stock-based compensation	—	—	—	—	1,981	—	—	443	2,424
Net loss	—	—	—	—	—	—	(7,391)	(1,030)	(8,421)
Other comprehensive loss	—	—	—	—	—	(22)	—	(5)	(27)
Balance at June 30, 2026	112,499	$11	23,970	$2	$186,255	$(30)	$(147,004)	$8,751	$47,985
Issuance of common stock under employee equity plans, net of shares withheld for tax settlement	82	—	—	—	(7)	—	—	—	(7)
Exercise of Pre-funded Warrants in connection with the Private Placement	2,910	—	—	—	—	—	—	—	—
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC	—	—	—	—	682	—	—	(682)	—
Stock-based compensation	—	—	—	—	1,820	—	—	395	2,215
Net loss	—	—	—	—	—	—	(7,729)	(1,077)	(8,806)
Other comprehensive loss	—	—	—	—	—	(27)	—	(6)	(33)
Balance at September 30, 2026	115,491	$11	23,970	$2	$188,750	$(57)	$(154,733)	$7,381	$41,354

CONDENSED Consolidated Statements of Changes in STOCKHOLDERS’ (DEFICIT)/Equity

Class A Common Stock · Class B Common Stock
	Shares	Amount	Shares	Amount	AdditionalPaid InCapital	AccumulatedOtherComprehensive(Loss)/Gain	AccumulatedDeficit	Non-ControllingInterest	TotalStockholders'(Deficit)/Equity
Balance at December 31, 2024	33,430	$3	23,972	$2	$104,889	$5	$(102,907)	$1,501	$3,493
Issuance of common stock under employee equity plans, net of shares withheld for tax settlement	140	—	—	—	(23)	—	—	—	(23)
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC	—	—	—	—	1	—	—	(1)	—
Stock-based compensation	—	—	—	—	2,241	—	—	1,684	3,925
Net loss	—	—	—	—	—	—	(7,264)	(5,474)	(12,738)
Other comprehensive loss	—	—	—	—	—	(3)	—	(3)	(6)
Balance at March 31, 2025	33,570	$3	23,972	$2	$107,108	$2	$(110,171)	$(2,293)	$(5,349)
Exercise of warrants issued in connection with the October 2024 and July 2024 Securities Purchase Agreements, net of issuance costs of $340	5,419	—	—	—	3,937	—	—	—	3,937
Warrant issued for services provided	—	—	—	—	152	—	—	—	152
Issuance of common stock under employee equity plans, net of shares withheld for tax settlement	44	—	—	—	(8)	—	—	—	(8)
Issuance of common stock under employee stock purchase plan	97	—	—	—	46	—	—	—	46
Effect of exchanges of Paired Interests and non-corresponding Class A Units of Rani LLC	107	—	(2)	—	—	—	—	—	—
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC	—	—	—	—	(1,963)	—	—	1,963	—
Stock-based compensation	—	—	—	—	2,008	—	—	1,284	3,292
Net loss	—	—	—	—	—	—	(6,692)	(4,532)	(11,224)
Other comprehensive loss	—	—	—	—	—	1	—	—	1
Balance at June 30, 2025	39,237	$3	23,970	$2	$111,280	$3	$(116,863)	$(3,578)	$(9,153)
Issuance of common stock and pre-funded warrants in connection with the July 2025 Securities Purchase Agreements, net of issuance costs of $189	7,500	1	—	—	2,810	—	—	—	2,811
Exercise of pre-funded warrants	1,161	—	—	—	—	—	—	—	—
Warrant modification expense	—	—	—	—	15	—	—	—	15
Issuance of common stock under employee equity plans, net of shares withheld for tax settlement	43	—	—	—	(7)	—	—	—	(7)
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC	—	—	—	—	(1,163)	—	—	1,163	—
Stock-based compensation	—	—	—	—	1,539	—	—	804	2,343
Issuance costs related to the October 2024 and July 2024 Securities Purchase Agreements	—	—	—	—	(68)	—	—	—	(68)
Net loss	—	—	—	—	—	—	(5,412)	(2,502)	(7,914)
Balance at September 30, 2025	47,941	$4	23,970	$2	$114,406	$3	$(122,275)	$(4,113)	$(11,973)

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.