Vivani Medical Financials
This page shows Vivani Medical (VANI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Vivani Medical passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Vivani Medical generates $0.89 in operating cash flow (-$20.8M OCF vs -$23.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Vivani Medical generated $0 in revenue in fiscal year 2024.
Vivani Medical's EBITDA was -$24.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.8% from the prior year.
Vivani Medical generated -$21.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 13.2% from the prior year.
Vivani Medical reported -$23.5M in net income in fiscal year 2024. This represents an increase of 8.4% from the prior year.
Vivani Medical earned $-0.43 per diluted share (EPS) in fiscal year 2024. This represents an increase of 14.0% from the prior year.
Vivani Medical held $18.4M in cash against $0 in long-term debt as of fiscal year 2024.
Vivani Medical had 59M shares outstanding in fiscal year 2024. This represents an increase of 16.1% from the prior year.
Vivani Medical invested $15.7M in research and development in fiscal year 2024. This represents a decrease of 7.2% from the prior year.
Vivani Medical invested $556K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 37.3% from the prior year.
VANI Income Statement
| Metric | Q3'25 | Q1'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $0 | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $130K |
| R&D Expenses | $4.5M+7.2% | $4.2M+0.3% | $4.2M | N/A | $4.4M | N/A | $3.9M | N/A |
| SG&A Expenses | $2.2M-5.7% | $2.3M+11.1% | $2.1M | N/A | $2.7M | N/A | $1.6M | N/A |
| Operating Income | -$6.7M-2.6% | -$6.6M-3.9% | -$6.3M | N/A | -$7.1M | N/A | -$5.4M-321.7% | -$1.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$6.5M-3.6% | -$6.3M-4.3% | -$6.0M | N/A | -$6.8M | N/A | $1.4M+210.9% | -$1.3M |
| EPS (Diluted) | $-0.110.0% | $-0.110.0% | $-0.11 | N/A | $-0.13 | N/A | $0.04 | N/A |
VANI Balance Sheet
| Metric | Q3'25 | Q1'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $25.0M-29.4% | $35.5M-14.7% | $41.6M-9.2% | $45.8M-14.1% | $53.3M+4.3% | $51.1M-10.3% | $57.0M+945.7% | $5.5M |
| Current Assets | $4.2M-71.9% | $14.8M-27.4% | $20.4M-11.4% | $23.1M-24.8% | $30.7M-35.4% | $47.5M-12.7% | $54.5M+2105.9% | $2.5M |
| Cash & Equivalents | $2.6M-79.8% | $13.0M-29.1% | $18.4M-11.1% | $20.7M-16.8% | $24.8M-44.9% | $45.1M-12.8% | $51.7M+2273.0% | $2.2M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $23.7M-0.4% | $23.8M-0.5% | $24.0M-4.3% | $25.0M-7.7% | $27.1M+297.4% | $6.8M+20.5% | $5.7M+89.5% | $3.0M |
| Current Liabilities | $6.8M+10.2% | $6.2M+3.6% | $6.0M+4.6% | $5.7M-23.0% | $7.4M+9.0% | $6.8M+21.4% | $5.6M+169.4% | $2.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.3M-88.7% | $11.6M-34.0% | $17.6M-15.2% | $20.8M-20.8% | $26.2M-40.9% | $44.3M-13.7% | $51.4M+1983.6% | $2.5M |
| Retained Earnings | -$141.9M-10.7% | -$128.2M-5.2% | -$121.9M-23.9% | -$98.4M-6.5% | -$92.4M-27.0% | -$72.8M-11.1% | -$65.5M-11.2% | -$58.9M |
VANI Cash Flow Statement
| Metric | Q3'25 | Q1'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.4M-23.0% | -$5.2M+11.2% | -$5.8M-67.0% | -$3.5M+54.8% | -$7.7M-48.0% | -$5.2M+25.2% | -$7.0M-135.2% | -$3.0M |
| Capital Expenditures | $823K+16360.0% | $5K-98.3% | $296K-60.2% | $743K+1079.4% | $63K-29.2% | $89K-33.1% | $133K-48.0% | $256K |
| Free Cash Flow | -$7.2M-38.8% | -$5.2M+15.4% | -$6.1M-44.6% | -$4.2M+45.6% | -$7.8M-46.7% | -$5.3M+25.4% | -$7.1M-120.6% | -$3.2M |
| Investing Cash Flow | -$823K-16360.0% | -$5K+98.3% | -$296K+60.2% | -$743K-1079.4% | -$63K-53.7% | -$41K+77.3% | -$181K+29.3% | -$256K |
| Financing Cash Flow | $2.9M+1834.1% | -$170K-103.5% | $4.8M+20891.3% | $23K-77.7% | $103K | $0-100.0% | $55.4M+1213.2% | $4.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
VANI Financial Ratios
| Metric | Q3'25 | Q1'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | 2.8% | N/A |
| Return on Assets | -26.1%-8.3pp | -17.8%-3.7pp | -14.1% | N/A | -12.7% | N/A | 2.5%+26.0pp | -23.5% |
| Current Ratio | 0.61-1.8 | 2.40-1.0 | 3.42-0.6 | 4.03-0.1 | 4.13-2.8 | 6.97-2.7 | 9.69+8.5 | 1.18 |
| Debt-to-Equity | 18.13+16.1 | 2.05+0.7 | 1.36+0.2 | 1.21+0.2 | 1.03+0.9 | 0.15+0.0 | 0.11-1.1 | 1.21 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Vivani Medical's annual revenue?
Vivani Medical (VANI) reported $0 in total revenue for fiscal year 2024. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Vivani Medical profitable?
No, Vivani Medical (VANI) reported a net income of -$23.5M in fiscal year 2024.
What is Vivani Medical's earnings per share (EPS)?
Vivani Medical (VANI) reported diluted earnings per share of $-0.43 for fiscal year 2024. This represents a 14.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Vivani Medical's EBITDA?
Vivani Medical (VANI) had EBITDA of -$24.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Vivani Medical's free cash flow?
Vivani Medical (VANI) generated -$21.3M in free cash flow during fiscal year 2024. This represents a 13.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Vivani Medical's operating cash flow?
Vivani Medical (VANI) generated -$20.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Vivani Medical's total assets?
Vivani Medical (VANI) had $41.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Vivani Medical's capital expenditures?
Vivani Medical (VANI) invested $556K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Vivani Medical spend on research and development?
Vivani Medical (VANI) invested $15.7M in research and development during fiscal year 2024.
How many shares does Vivani Medical have outstanding?
Vivani Medical (VANI) had 59M shares outstanding as of fiscal year 2024.
What is Vivani Medical's current ratio?
Vivani Medical (VANI) had a current ratio of 3.42 as of fiscal year 2024, which is generally considered healthy.
What is Vivani Medical's debt-to-equity ratio?
Vivani Medical (VANI) had a debt-to-equity ratio of 1.36 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vivani Medical's return on assets (ROA)?
Vivani Medical (VANI) had a return on assets of -56.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Vivani Medical's cash runway?
Based on fiscal year 2024 data, Vivani Medical (VANI) had $18.4M in cash against an annual operating cash burn of $20.8M. This gives an estimated cash runway of approximately 11 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Vivani Medical's Piotroski F-Score?
Vivani Medical (VANI) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Vivani Medical's earnings high quality?
Vivani Medical (VANI) has an earnings quality ratio of 0.89x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.