10-Q · May 15, 2026
Rani Therapeutics reported a significant decrease in revenue for Q4 2026, with actual revenue of $1.461 million, missing estimates by 79% compared to the previous year. The company also experienced a net loss reduction…
Earnings analysis · 10-Q
RANI earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Rani generated $1.708 million of Q2 2026 revenue and reported a diluted EPS loss of $0.04; revenue declined approximately 14.6% sequentially, while the EPS loss improved from $0.18 in the prior-year quarter. Liquidity…
Read full summary
Rani generated $1.708 million of Q2 2026 revenue and reported a diluted EPS loss of $0.04; revenue declined approximately 14.6% sequentially, while the EPS loss improved from $0.18 in the prior-year quarter. Liquidity remained the principal financial support, with $53.4 million of cash, cash equivalents and marketable securities expected to fund operations at least through 2027. The outlook is constrained by an $8.421 million quarterly net loss, an unremediated material weakness, and a new Nasdaq bid-price deficiency that could lead to delisting after November 9, 2026.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.04
What stood out
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Revenue remained meaningful but declined sequentially
Second-quarter revenue was $1.708 million, compared with $2.0 million in the prior quarter, indicating a sequential decline of approximately 14.6%.
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EPS loss improved year over year
Diluted EPS was a loss of $0.04 in Q2 2026, unchanged from the prior quarter’s $0.04 loss and improved from the $0.18 loss in Q2 2025.
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Liquidity runway extends through 2027
Cash, cash equivalents and marketable securities totaled $53.4 million as of June 30, 2026, and management expects this liquidity to fund operations at least through 2027.
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Material weakness remediation continued
Management continued remediation during the three months ended June 30, 2026, including revised policies, procedures and additional training for significant and complex transactions.
What to watch
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Nasdaq delisting risk
Rani received a Nasdaq deficiency notice on May 11, 2026 after its closing bid price remained below $1.00 for 30 consecutive business days. The company has until November 9, 2026 to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive trading days.
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Unremediated material weakness
Disclosure controls were not effective as of June 30, 2026 because of a previously identified material weakness involving controls over significant, complex or unusual transactions. Management stated the weakness could result in a material misstatement that would not be prevented or detected on a timely basis.
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Continuing losses and financing risk
The company reported an $8.421 million net loss for the quarter, underscoring continuing cash-burn and dependence on its $53.4 million liquidity balance to fund operations at least through 2027.
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Capital access could deteriorate
If Nasdaq compliance is not regained within the initial 180-calendar-day period ending November 9, 2026, and any available extension, the Class A common stock may be delisted, potentially impairing liquidity and the company’s ability to obtain additional capital.
Management's outlook
No quantitative revenue or EPS guidance was provided. Management stated that cash, cash equivalents and marketable securities of $53.4 million as of June 30, 2026 are expected to fund operations at least through 2027.
Earlier filings 4
10-K · March 26, 2026
Rani Therapeutics Holdings, Inc. reported a challenging year in 2025, emphasizing its commitment to advancing its proprietary RaniPill oral delivery technology for biologics, despite continued operational losses and the…
10-Q · November 6, 2025
Rani Therapeutics reported disappointing results in its third quarter of 2025, with no revenue generated and an EPS of -$0.12, missing analyst expectations. Operating expenses decreased significantly, reflecting cost…
10-Q · August 7, 2025
Rani Therapeutics reported no revenue for Q2 2025, continuing its trend with deteriorating gross and operating margins. The company reported a net loss of $11.2 million, an improvement compared to a loss of $13.4…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.