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VANI

Vivani Medical, Inc.

VANI

Vivani Medical, Inc. • NASDAQ
$1.36 ▲ 0.00% (+0.00)
Market Cap $80.35 M
52w High $1.92
52w Low $0.91
Dividend Yield 0%
P/E -3.02
Volume 51.11K
Outstanding Shares 59.08M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $6.62M ▼ $-6.53M ▲ 0% $-0.11 ▲ $-6.512M ▲
Q2-2025 $0 $7.462M ▲ $-7.144M ▼ 0% $-0.12 ▼ $-7.36M ▼
Q1-2025 $0 $6.557M ▲ $-6.302M ▼ 0% $-0.11 $-6.455M ▼
Q4-2024 $0 $6.371M ▲ $-6.05M ▼ 0% $-0.11 $-5.961M ▲
Q3-2024 $0 $6.309M $-6.041M 0% $-0.11 $-6.197M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.628M ▼ $25.046M ▼ $23.737M ▼ $1.309M ▼
Q2-2025 $6.794M ▼ $28.905M ▼ $23.995M ▲ $4.91M ▼
Q1-2025 $13.008M ▼ $35.452M ▼ $23.828M ▼ $11.624M ▼
Q4-2024 $18.352M ▼ $41.561M ▼ $23.951M ▼ $17.61M ▼
Q3-2024 $19.646M $42.896M $24.564M $18.332M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-6.53M ▲ $-6.351M ▼ $-823K ▼ $2.948M ▲ $-4.166M ▲ $-7.174M ▼
Q2-2025 $-7.144M ▼ $-6.087M ▼ $-71K ▼ $-95K ▲ $-6.214M ▼ $-6.158M ▼
Q1-2025 $-6.302M ▼ $-5.163M ▲ $-5K ▲ $-170K ▼ $-5.344M ▼ $-5.168M ▲
Q4-2024 $-6.05M ▼ $-5.812M ▼ $-296K ▼ $4.828M ▲ $-1.294M ▲ $-6.108M ▼
Q3-2024 $-6.041M $-5.661M $-41K $427K $-5.273M $-5.702M

Five-Year Company Overview

Income Statement

Income Statement Vivani is still very much a development‑stage company. Over the last several years it has essentially reported no product revenue and has been operating at a steady loss. The losses appear relatively modest in absolute terms, but they are recurring and reflect ongoing spending on operations and development rather than any commercial scale activity. In plain terms, the business is still in the “building and testing” phase, not the “selling” phase, so financial performance is driven by costs, not income.

Balance Sheet

Balance Sheet The balance sheet looks small and lean, consistent with an early‑stage, R&D‑focused company. Assets are limited, with cash making up a meaningful portion, and there is a roughly similar level of equity and debt, indicating some use of borrowing but not an obviously heavy debt load. The company appears to have enough resources to keep moving its programs forward for now, but the overall financial base is still thin and dependent on continued access to capital over time.

Cash Flow

Cash Flow Cash flows are negative and fairly stable, reflecting ongoing spending on research, development, and operations without any offsetting revenue. There is little to no meaningful investment in long‑term physical assets, so the main cash use is simply funding the business and pipeline. This is typical for a clinical‑stage healthcare company but means the business will likely continue to rely on external financing until products reach the market, if they do.

Competitive Edge

Competitive Edge Vivani’s competitive position is built around a distinct drug‑delivery approach rather than competing on new drug molecules alone. By focusing on long‑acting subdermal implants, particularly for obesity and diabetes, it positions itself differently from the many companies working on injectable or oral GLP‑1 therapies. Its patented NanoPortal platform and emphasis on solving medication adherence give it a clear, differentiated story. At the same time, it operates in a fiercely competitive area with many well‑funded players, so turning this technological edge into real market share will depend heavily on future clinical results, regulatory approvals, and payer acceptance.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of Vivani’s strategy. The NanoPortal implant technology aims to deliver drugs steadily for many months, addressing adherence and side‑effect challenges seen with traditional dosing. The pipeline is concentrated but focused: multiple implant candidates for chronic weight management and type 2 diabetes, including semaglutide and exenatide implants. Early human and preclinical data appear encouraging, and management is aiming for ambitious goals like once‑yearly dosing. The planned spin‑off of the neurostimulation unit (Cortigent) further underscores a desire to sharpen the R&D focus around the implant drug‑delivery platform. Overall, this is a high‑innovation, high‑execution‑risk model.

Summary

Vivani is a small, clinical‑stage healthcare company with no commercial revenue yet, ongoing operating losses, and steady cash burn typical of early biopharma and medical device developers. Its financial profile is lean and reliant on continued funding, although recent financing reportedly extends its runway for the next couple of years. The strategic story centers on a differentiated implant platform that targets a very large, fast‑growing market in obesity and diabetes by attacking the problem of poor medication adherence. The main strengths are its proprietary technology, focused pipeline, and clear problem‑solution fit; the main risks are scientific and regulatory execution, intense competition from larger incumbents, and the need for ongoing external capital until the technology proves itself in late‑stage trials and, potentially, in the marketplace.

NEWS

November 13, 2025 · 7:45 AM UTC

Vivani Medical Provides Business Update and Reports Third Quarter 2025 Financial Results

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October 28, 2025 · 4:05 PM UTC

Vivani Medical, Inc. Announces Closing of Common Stock Offering

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October 26, 2025 · 7:15 PM UTC

Vivani Medical, Inc. Announces Pricing of Common Stock Offering

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October 3, 2025 · 8:30 AM UTC

Vivani Medical Withdraws Record Date for Cortigent Neuromodulation Subsidiary Spin-Off

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September 24, 2025 · 9:15 AM UTC

Vivani Medical to Present at the Emerging Growth Conference on September 25, 2025

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