Rani Therapeutics Holdings, Inc. (RANI) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -6.5M | 294K | -5.06M | -5.8M | -8.15M | -8.65M | -8.41M | -9.03M | -9.4M | -12.48M | -14.3M | -12.3M | -12.15M | -14.63M | -12.2M | -10.33M | -9.36M | -11.45M | -11.12M | -5.63M |
| Operating CF Margin % | -380.39% | 20.12% | - | - | -4737.79% | -841.93% | - | - | - | - | - | - | - | - | - | - | - | - | - | -287% |
| Operating CF Growth % | 20.27% | 103.4% | 39.8% | 35.81% | 13.33% | 30.64% | 41.2% | 26.6% | 22.64% | 14.7% | -17.26% | -19.1% | -29.85% | -27.78% | -9.69% | -83.51% | -131.23% | -70.88% | - | - |
| Net Income | -8.02M | -9.07M | -7.91M | -6.69M | -7.26M | -15.72M | -12.72M | -6.8M | -7.48M | -7.1M | -18.33M | -9.3M | -16.83M | -8.79M | -7.96M | -7.62M | -13.83M | -13.3M | -3.14M | -5.49M |
| Depreciation & Amortization | 161K | 186K | 223K | 240K | 251K | 266K | 259K | 255K | 248K | 227K | 218K | 449K | 188K | 410K | 352K | 282K | 111K | 113K | 120K | 128K |
| Stock-Based Compensation | 2.08M | 2.24M | 2.34M | 0 | 0 | 3.99M | 4.04M | 4.13M | 3.87M | 4.49M | 4.97M | 0 | 4.42M | 0 | 0 | 0 | 2.9M | 3.16M | 0 | 282K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5.6M | -609K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70K |
| Other Non-Cash Items | 233K | 970K | 545K | -560K | -1.16M | 3.94M | 668K | -6.69M | -7.2M | -1.5M | 318K | -4.71M | -381K | -4.64M | -4.04M | -4.37M | 157K | 1K | -6.09M | 57K |
| Working Capital Changes | -960K | 5.97M | -260K | 1.22M | 28K | -1.13M | -656K | 81K | 1.16M | -2.99M | -864K | 1.26M | 456K | -1.61M | -553K | 1.38M | 1.29M | -1.42M | -2M | -680K |
| Change in Receivables | 0 | -2.04M | 0 | 1.03M | -600K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 549K | -2.16M | 669K | 278K | 161K | -207K | 1.06M | -300K | 158K | -663K | 400K | -408K | 76K | -214K | 168K | 131K | 78K | -131K | 253K | 36K |
| Cash from Investing | -2.45M | -30.97M | 0 | 5.71M | 18.23M | 2.52M | 469K | 6.53M | 10.29M | 13.27M | 11.67M | 789K | 4.12M | -457K | -71.35M | -379K | -254K | -271K | 0 | -136K |
| Capital Expenditures | -15K | 0 | 0 | -37K | -51K | -31K | -125K | -94K | -18K | -167K | -479K | -335K | -248K | -530K | -456K | -379K | -254K | -271K | 0 | -136K |
| CapEx % of Revenue | 0.88% | - | - | - | 29.65% | 3.02% | - | - | - | - | - | - | - | - | - | - | - | - | - | 6.94% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -13.44K | -12.15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 244K | 0 | 0 | 0 | 0 | 0 | 940K | 0 | 0 | 13.44K | 12.15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -27K | 44.85M | -1.01M | 188K | -3.73M | 5.62M | 7.7M | 141K | 121K | 96K | 49K | 80K | 8K | 14.87M | 14.08M | 49K | 0 | -570K | 71.55M | -1.58M |
| Debt Issued (Net) | 0 | -9.47M | -3.75M | -3.75M | -3.75M | -3.75M | -1.25M | 0 | 0 | 0 | 0 | 0 | 0 | 14.75M | 14.56M | 0 | 0 | 0 | -2.68M | 0 |
| Equity Issued (Net) | 5K | 54.34M | -63K | 3.95M | 42K | 9.38M | 8.97M | 165K | 121K | 96K | 78K | 89K | 0 | 123K | 145K | 49K | 0 | -570K | 74.23M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -32K | -21K | 2.8M | -8K | -23K | -10K | -14K | -24K | 0 | 0 | -29K | -9K | 8K | 0 | -626K | 0 | 0 | 0 | 1K | -1.58M |
| Net Change in Cash | -8.97M | 14.17M | -6.07M | 105K | 6.35M | -515K | -237K | -2.36M | 1.01M | 892K | -2.58M | -11.43M | -8.02M | 288K | -69.96M | -10.66M | -9.61M | -12.29M | 60.43M | -7.35M |
| Free Cash Flow | -6.51M | 294K | -5.06M | -5.83M | -8.2M | -8.69M | -8.54M | -9.12M | -9.42M | -12.64M | -14.78M | -12.64M | -12.4M | -15.16M | -12.65M | -10.71M | -9.61M | -11.72M | -11.12M | -5.76M |
| FCF Margin % | -381.26% | 20.12% | - | - | -4767.44% | -844.94% | - | - | - | - | - | - | - | - | - | - | - | - | - | -293.93% |
| FCF Growth % | 20.59% | 103.38% | 40.68% | 36.06% | 12.95% | 31.31% | 42.26% | 27.8% | 24.04% | 16.58% | -16.82% | -18.02% | -29% | -29.34% | -13.79% | -85.76% | -131.83% | -68.49% | - | - |
| FCF per Share | -0.04 | 0.00 | -0.14 | -0.16 | -0.25 | -0.27 | -0.30 | -0.35 | -0.36 | -0.49 | -0.58 | -0.50 | -0.49 | -0.61 | -0.52 | -0.44 | -0.45 | -0.60 | -0.57 | -0.31 |
| FCF Conversion (FCF/Net Income) | 0.92x | -0.03x | 0.94x | 0.87x | 1.12x | 0.97x | 1.24x | 1.33x | 1.26x | 1.76x | 1.56x | 1.32x | 1.45x | 1.67x | 1.53x | 1.35x | 1.50x | 2.21x | 3.54x | 1.03x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |