Vivani Medical, Inc. VANI
Vivani Medical, Inc. ("Vivani," the "Company," "we," "us," "our" or similar terms) is a clinical stage biopharmaceutical company which develops miniature, ultra long-acting subdermal drug implant candidates utilizing its proprietary NanoPortal™ technology, which is designed to enable reversible, ultra long-acting, near constant-rate delivery of a broad range of medicines to treat chronic diseases. Vivani uses this platform technology to develop, and potentially commercialize, drug implant candidates, alone or in collaboration with pharmaceutical company partners, to address leading causes of poor clinical outcomes in the treatment of chronic diseases, including medication non-adherence, drug tolerability and administration challenges faced by certain patients.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | — | — | — | — | $3.4M | $6.9M | $8.0M | $4.0M |
| Cost of revenue | — | — | — | — | $130.0K | $500.0K | $2.2M | $4.9M | $5.1M | $10.1M |
| Gross profit | — | — | — | — | $130.0K | $500.0K | $1.2M | $2.0M | $2.8M | -$6.1M |
| R&D | $18.1M | $15.7M | $17.0M | $14.2M | $11.0M | $4.8M | $13.1M | $10.0M | $7.9M | $5.3M |
| SG&A | $9.4M | $8.9M | $10.0M | $7.1M | $2.3M | $5.9M | $9.2M | $10.7M | $10.9M | $10.1M |
| Total operating expenses | $27.6M | $24.7M | $27.0M | $21.2M | $13.3M | $15.4M | $35.2M | $37.2M | $31.5M | $27.1M |
| Operating income | -$27.6M | -$24.7M | -$27.0M | -$21.2M | -$13.3M | -$14.9M | -$34.0M | -$35.2M | -$28.6M | -$33.2M |
| Pre-tax income | -$26.6M | -$23.5M | — | — | — | — | -$33.6M | -$35.1M | — | — |
| Income tax | — | $2.0K | — | — | — | — | $0 | $0 | — | — |
| Net income | $26.6M | $23.5M | $25.7M | -$13.9M | -$12.8M | -$14.9M | -$33.6M | -$35.1M | -$28.5M | -$33.2M |
| EPS, basic | -0.43 | -0.43 | -0.50 | — | — | — | — | — | — | — |
| EPS, diluted | -0.43 | -0.43 | -0.50 | — | -0.27 | -0.72 | -2.28 | -4.23 | -0.53 | -0.84 |
| Shares, diluted (wtd. avg.) | 62.4M | 55.0M | 50,853 | — | — | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $16.2M | $18.4M | $20.7M | $46.4M | $69.6M | $3.2M | $11.3M | $4.5M | $7.8M | $10.9M |
| Receivables | — | — | — | — | — | — | $455.0K | $504.0K | $1.8M | $274.0K |
| Inventory | — | — | — | — | — | — | $1.0M | $3.2M | $2.7M | $3.4M |
| Total current assets | $17.9M | $20.4M | $23.1M | $47.5M | $2.5M | $4.3M | $13.1M | $9.6M | $13.2M | $15.3M |
| Property, plant and equipment | $2.9M | $1.7M | $1.7M | $1.2M | $1.2M | $174.0K | $1.1M | $1.0M | $1.3M | $1.5M |
| Total assets | $39.4M | $41.6M | $45.8M | $51.1M | $5.5M | $4.5M | $16.6M | $10.7M | $14.5M | $16.8M |
| Accounts payable | $1.0M | $817.0K | $542.0K | $1.2M | $281.0K | $486.0K | $1.1M | $1.3M | $752.0K | $1.2M |
| Short-term debt | — | — | — | — | — | $2.2M | — | — | — | — |
| Total current liabilities | $6.6M | $6.0M | $5.7M | $6.8M | $2.1M | $5.1M | $7.0M | $7.6M | $6.6M | $5.7M |
| Total liabilities | $23.7M | $24.0M | $25.0M | $6.8M | $3.0M | $5.1M | $9.3M | $7.6M | — | — |
| Retained earnings | -$148.5M | -$121.9M | -$98.4M | -$72.8M | -$58.9M | -$319.7M | -$304.8M | -$269.5M | -$234.4M | -$205.9M |
| Total equity | $15.7M | $17.6M | $20.8M | $44.3M | $2.5M | $1.9M | $7.3M | $3.1M | $7.9M | $11.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$24.3M | -$20.8M | -$23.7M | -$18.8M | -$11.0M | -$16.8M | -$27.6M | -$29.8M | -$23.9M | -$25.1M |
| Depreciation and amortisation | $424.0K | $400.0K | $357.0K | $381.0K | $345.0K | $164.0K | $397.0K | $435.0K | $457.0K | $432.0K |
| Stock-based compensation | $1.5M | $1.6M | $1.9M | $1.3M | $1.7M | $421.0K | $2.9M | $3.6M | $3.8M | $3.4M |
| Capital expenditure | $1.2M | $556.0K | $887.0K | $338.0K | $572.0K | $330.0K | $493.0K | $163.0K | $265.0K | $490.0K |
| Investing cash flow | -$1.2M | -$556.0K | -$887.0K | -$338.0K | -$572.0K | $68.0K | -$493.0K | -$163.0K | -$265.0K | -$490.0K |
| Financing cash flow | $23.3M | $19.1M | $133.0K | $63.4M | $11.6M | $8.6M | $35.0M | $26.6M | $21.2M | $20.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001753926-26-000750.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.0M | $8.0M | $6.9M | $3.4M | — | — | — | — | $0 | $0 |
| Gross profit | -$6.1M | $2.8M | $2.0M | $1.2M | $500.0K | $130.0K | — | — | — | — |
| Net income | -$33.2M | -$28.5M | -$35.1M | -$33.6M | -$14.9M | -$12.8M | -$13.9M | $25.7M | $23.5M | $26.6M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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