Vivani Medical, Inc. (VANI) 10-Year Financial Performance & Capital Metrics

VANI • • Industrial / General

HealthcareMedical DevicesNeurological & Neurostimulation DevicesNeurostimulation & Neuromodulation

AboutVivani Medical, Inc., a clinical stage company, develops various implants that treat chronic diseases with high unmet medical need. It engages in developing a portfolio of miniature drug implants to deliver minimally fluctuating drug profiles; and implantable visual prostheses devices to deliver useful artificial vision to blind individuals. The company is headquartered in Emeryville, California.Show more

Revenue $0
EBITDA -$24M +8.8%
Net Income -$23M +8.4%
EPS (Diluted) -0.43 +14.0%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -122.42% -55.3%
ROIC -94.01% +51.2%
Debt/Equity 1.10 +10.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-10.93%

EPS CAGR

10Y-

5Y-

3Y-

TTM-0.6%

ROCE

10Y Avg-248.28%

5Y Avg-156.11%

3Y Avg-72.75%

Latest-65.24%

Peer Comparison

Neurostimulation & Neuromodulation

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BWAYBrainsWay Ltd.	452.42M	23.10	128.33	29.04%	12.73%	8.92%	1.44%	0.09
INSPInspire Medical Systems, Inc.	2.8B	96.47	55.13	28.49%	5.05%	6.69%	3.25%	0.05
TIVCTivic Health Systems, Inc.	3.11M	1.23	-0.06	-33.67%	-15.57%	-134.25%
COCHEnvoy Medical, Inc.	19.42M	0.67	-0.45	-28.8%	-104.75%
HSDTSolana Company	128.03M	3.10	-0.72	-19.25%	-393.59%	-6.89%		0.01
NXLNexalin Technology, Inc.	12.87M	0.69	-0.83	52.35%	-55.3%	-182.01%
CVRXCVRx, Inc.	143.37M	5.47	-2.06	30.53%	-92.95%	-108.26%		0.71
VANIVivani Medical, Inc.	91.92M	1.26	-2.93			-19.88%		1.10

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	8.95M	3.98M	7.96M	6.9M	3.38M	0	0	0	0	0
Revenue Growth %	1.63%	-0.55%	1%	-0.13%	-0.51%	-1%	-	-	-	-
Cost of Goods Sold+	4.3M	9.35M	7.75M	4.89M	2.15M	0	0	0	357K	0
COGS % of Revenue	0.48%	2.35%	0.97%	0.71%	0.64%	-	-	-	-	-
Gross Profit+	4.65M	-5.36M	211K	2.01M	1.23M	0	0	0	-357K	0
Gross Margin %	0.52%	-1.35%	0.03%	0.29%	0.36%	-	-	-	-	-
Gross Profit Growth %	30%	-2.15%	1.04%	8.52%	-0.39%	-1%	-	-	-	1%
Operating Expenses+	24.7M	27.85M	28.92M	36.83M	31.82M	9.24M	13.32M	21.24M	26.61M	24.68M
OpEx % of Revenue	2.76%	6.99%	3.63%	5.34%	9.42%	-	-	-	-	-
Selling, General & Admin	20.67M	21.77M	23.56M	26.63M	15.33M	2.38M	2.32M	5.37M	10M	8.93M
SG&A % of Revenue	2.31%	5.46%	2.96%	3.86%	4.54%	-	-	-	-	-
Research & Development	3.04M	5.35M	7.99M	10.21M	16.5M	6.87M	11M	14.17M	16.97M	15.74M
R&D % of Revenue	0.34%	1.34%	1%	1.48%	4.88%	-	-	-	-	-
Other Operating Expenses	991K	727K	-2.64M	0	0	0	0	1.7M	-357K	0
Operating Income+	-20.05M	-33.21M	-28.71M	-34.83M	-30.6M	-9.24M	-13.32M	-21.24M	-26.96M	-24.68M
Operating Margin %	-2.24%	-8.33%	-3.6%	-5.05%	-9.06%	-	-	-	-	-
Operating Income Growth %	0.06%	-0.66%	0.14%	-0.21%	0.12%	0.7%	-0.44%	-0.59%	-0.27%	0.08%
EBITDA+	-19.71M	-32.78M	-28.25M	-34.39M	-30.18M	-8.89M	-12.98M	-20.86M	-26.61M	-24.28M
EBITDA Margin %	-2.2%	-8.23%	-3.55%	-4.99%	-8.93%	-	-	-	-	-
EBITDA Growth %	0.06%	-0.66%	0.14%	-0.22%	0.12%	0.71%	-0.46%	-0.61%	-0.28%	0.09%
D&A (Non-Cash Add-back)	335K	432K	457K	435K	414K	354K	345K	381K	357K	400K
EBIT	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.24M	-13.32M	-19.54M	-25.65M	-24.68M
Net Interest Income+	-27K	0	0	0	362K	16K	0	0	0	0
Interest Income	2K	31K	93K	86K	362K	16K	0	0	0	0
Interest Expense	29K	0	0	0	0	0	0	0	0	0
Other Income/Expense	29K	31K	193K	-269K	-3M	-36K	550K	7.35M	1.31M	1.19M
Pretax Income+	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.28M	-12.77M	-13.89M	-25.65M	-23.49M
Pretax Margin %	-2.24%	-8.33%	-3.58%	-5.09%	-9.94%	-	-	-	-	-
Income Tax+	58K	31K	93K	86K	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.28M	-12.77M	-13.89M	-25.65M	-23.49M
Net Margin %	-2.24%	-8.33%	-3.58%	-5.09%	-9.94%	-	-	-	-	-
Net Income Growth %	0.43%	-0.66%	0.14%	-0.23%	0.04%	0.72%	-0.38%	-0.09%	-0.85%	0.08%
Net Income (Continuing)	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.28M	-12.77M	-13.89M	-25.65M	-23.49M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-4.09	-5.99	-4.01	-4.08	-2.15	-0.33	-0.33	-0.17	-0.50	-0.43
EPS Growth %	0.6%	-0.46%	0.33%	-0.02%	0.47%	0.85%	0%	0.48%	-1.94%	0.14%
EPS (Basic)	-4.09	-5.99	-4.01	-4.08	-2.15	-0.33	-0.33	-0.17	-0.50	-0.43
Diluted Shares Outstanding	4.89M	5.54M	7.11M	8.6M	15.61M	28.11M	36.25M	38.24M	50.85M	54.98M
Basic Shares Outstanding	4.89M	5.54M	7.11M	8.6M	15.61M	28.11M	36.25M	38.24M	50.85M	54.98M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	26.76M	15.28M	13.16M	9.62M	13.11M	2.43M	2.47M	47.53M	23.06M	20.44M
Cash & Short-Term Investments	15.96M	10.88M	7.84M	4.47M	11.33M	2.08M	2.18M	45.08M	20.65M	18.35M
Cash Only	15.96M	10.88M	604K	4.47M	11.33M	2.08M	2.18M	45.08M	20.65M	18.35M
Short-Term Investments	0	0	7.24M	0	0	0	0	0	0	0
Accounts Receivable	1.5M	274K	1.83M	504K	455K	0	0	0	0	253K
Days Sales Outstanding	61.21	25.1	83.92	26.68	49.15	-	-	-	-	-
Inventory	8.21M	3.42M	2.7M	3.25M	1.03M	0	0	0	0	0
Days Inventory Outstanding	696.49	133.37	127.11	242.69	174.53	-	-	-	-	-
Other Current Assets	1.09M	717K	795K	1.4M	299K	0	0	0	2.41M	1.84M
Total Non-Current Assets+	1.49M	1.53M	1.33M	1.06M	3.49M	2.79M	2.98M	3.6M	22.73M	21.12M
Property, Plant & Equipment	1.43M	1.49M	1.3M	1.02M	3.46M	2.59M	2.78M	1.96M	21.34M	19.65M
Fixed Asset Turnover	6.25x	2.68x	6.13x	6.73x	0.98x	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	5K	2K	0	0	0	0	0	0	1.34M	1.34M
Other Non-Current Assets	49K	39K	33K	37K	25K	200K	200K	1.64M	52K	131K
Total Assets+	28.25M	16.81M	14.5M	10.68M	16.6M	5.22M	5.45M	51.13M	45.8M	41.56M
Asset Turnover	0.32x	0.24x	0.55x	0.65x	0.20x	-	-	-	-	-
Asset Growth %	-0.34%	-0.4%	-0.14%	-0.26%	0.55%	-0.69%	0.05%	8.38%	-0.1%	-0.09%
Total Current Liabilities+	7.98M	5.66M	6.62M	7.6M	6.96M	2.19M	2.09M	6.82M	5.72M	5.99M
Accounts Payable	710K	1.16M	752K	1.3M	1.09M	223K	281K	1.18M	542K	817K
Days Payables Outstanding	60.24	45.13	35.4	97.45	185.38	-	-	-	554.15	-
Short-Term Debt	0	0	0	0	237K	637K	0	0	0	0
Deferred Revenue (Current)	322K	85K	48K	167K	335K	0	0	0	0	0
Other Current Liabilities	4.88M	2.82M	3.2M	3.44M	2.6M	0	0	385K	396K	343K
Current Ratio	3.35x	2.70x	1.99x	1.27x	1.88x	1.11x	1.18x	6.97x	4.03x	3.41x
Quick Ratio	2.32x	2.10x	1.58x	0.84x	1.74x	1.11x	1.18x	6.97x	4.03x	3.41x
Cash Conversion Cycle	697.46	113.33	175.63	171.91	38.29	-	-	-	-	-
Total Non-Current Liabilities+	0	0	0	0	2.37M	1.08M	902K	0	19.31M	17.96M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.37M	1.08M	902K	0	19.31M	17.96M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	4K	0	0	0	0
Total Liabilities	7.98M	5.66M	6.62M	7.6M	9.32M	3.27M	2.99M	6.82M	25.04M	23.95M
Total Debt+	0	0	0	0	2.6M	2.47M	1.81M	955K	20.7M	19.31M
Net Debt	-15.96M	-10.88M	-604K	-4.47M	-8.72M	386K	-366K	-44.12M	42K	961K
Debt / Equity	-	-	-	-	0.36x	1.27x	0.74x	0.02x	1.00x	1.10x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-691.28x	-	-	-	-	-	-	-	-	-
Total Equity+	20.27M	11.15M	7.88M	3.08M	7.28M	1.95M	2.46M	44.31M	20.76M	17.61M
Equity Growth %	-0.41%	-0.45%	-0.29%	-0.61%	1.36%	-0.73%	0.26%	16.97%	-0.53%	-0.15%
Book Value per Share	4.14	2.01	1.11	0.36	0.47	0.07	0.07	1.16	0.41	0.32
Total Shareholders' Equity	20.27M	11.15M	7.88M	3.08M	7.28M	1.95M	2.46M	44.31M	20.76M	17.61M
Common Stock	166.05M	186.77M	202.16M	229.02M	264.01M	43.03M	54.65M	5K	5K	6K
Retained Earnings	-172.68M	-205.86M	-234.38M	-269.47M	-304.78M	-46.12M	-58.9M	-72.79M	-98.44M	-121.92M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-376K	-455K	-572K	-575K	-562K	-448K	0	35K	140K	48K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-20.55M	-25.07M	-23.95M	-29.81M	-27.63M	-7.62M	-10.95M	-18.79M	-23.7M	-20.79M
Operating CF Margin %	-2.3%	-6.29%	-3.01%	-4.32%	-8.18%	-	-	-	-	-
Operating CF Growth %	-0.2%	-0.22%	0.04%	-0.24%	0.07%	0.72%	-0.44%	-0.72%	-0.26%	0.12%
Net Income	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.28M	-12.77M	-13.89M	-25.65M	-23.49M
Depreciation & Amortization	335K	432K	457K	435K	414K	354K	345K	381K	357K	400K
Stock-Based Compensation	2.69M	3.37M	3.78M	0	0	1.04M	1.67M	1.3M	1.86M	1.61M
Deferred Taxes	0	0	0	0	-4.26M	0	0	0	0	0
Other Non-Cash Items	6.76M	8.08M	-324K	4.7M	9.78M	123K	-627K	-6.91M	1.02M	336K
Working Capital Changes	-3.88M	-950K	3.31M	425K	37K	146K	436K	338K	-1.29M	354K
Change in Receivables	-793K	955K	-1.41M	1.22M	48K	0	0	0	0	0
Change in Inventory	-2.49M	10K	3.87M	-1.18M	-347K	0	0	0	0	0
Change in Payables	197K	446K	-419K	554K	-213K	-18K	13K	-1.94M	-602K	248K
Cash from Investing+	17.52M	4.89M	2.84M	-163K	-493K	-150K	-572K	-338K	-887K	-556K
Capital Expenditures	-762K	-490K	-265K	-163K	-493K	-150K	-572K	-338K	-887K	-556K
CapEx % of Revenue	0.09%	0.12%	0.03%	0.02%	0.15%	-	-	-	-	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	2.76M	20.45M	21.17M	26.6M	34.99M	9.19M	11.62M	63.39M	133K	19.05M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-124K	0	0	0	0	0	0	55.37M	0	-18.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-21.31M	-25.56M	-24.21M	-29.97M	-28.12M	-7.77M	-11.52M	-19.13M	-24.59M	-21.34M
FCF Margin %	-2.38%	-6.41%	-3.04%	-4.35%	-8.32%	-	-	-	-	-
FCF Growth %	-0.21%	-0.2%	0.05%	-0.24%	0.06%	0.72%	-0.48%	-0.66%	-0.29%	0.13%
FCF per Share	-4.35	-4.61	-3.41	-3.49	-1.80	-0.28	-0.32	-0.50	-0.48	-0.39
FCF Conversion (FCF/Net Income)	1.03x	0.76x	0.84x	0.85x	0.82x	0.82x	0.86x	1.35x	0.92x	0.89x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	1K	1K	0	1K	2K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-72.94%	-211.21%	-299.66%	-640.05%	-648.56%	-201.17%	-578.62%	-59.39%	-78.85%	-122.42%
Return on Invested Capital (ROIC)	-78.5%	-1086.95%	-570.15%	-886.73%	-	-1564.84%	-450.61%	-1393.77%	-192.7%	-94.01%
Gross Margin	51.93%	-134.6%	2.65%	29.12%	36.31%	-	-	-	-	-
Net Margin	-223.66%	-832.6%	-358.06%	-508.9%	-994.14%	-	-	-	-	-
Debt / Equity	-	-	-	-	0.36x	1.27x	0.74x	0.02x	1.00x	1.10x
Interest Coverage	-691.28x	-	-	-	-	-	-	-	-	-
FCF Conversion	1.03x	0.76x	0.84x	0.85x	0.82x	0.82x	0.86x	1.35x	0.92x	0.89x
Revenue Growth	163.4%	-55.47%	99.85%	-13.41%	-51%	-100%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Vivani Medical, Inc. (VANI) grew revenue by 0.0% over the past year. Growth has been modest.

Vivani Medical, Inc. (VANI) reported a net loss of $26.0M for fiscal year 2024.

Dividend & Returns

Vivani Medical, Inc. (VANI) has a return on equity (ROE) of -122.4%. Negative ROE indicates the company is unprofitable.

Vivani Medical, Inc. (VANI) had negative free cash flow of $24.6M in fiscal year 2024, likely due to heavy capital investments.

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Vivani Medical, Inc. (VANI) 10-Year Financial Performance & Capital Metrics

VANI • • Industrial / General

HealthcareMedical DevicesNeurological & Neurostimulation DevicesNeurostimulation & Neuromodulation

Revenue $0
EBITDA -$24M +8.8%
Net Income -$23M +8.4%
EPS (Diluted) -0.43 +14.0%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -122.42% -55.3%
ROIC -94.01% +51.2%
Debt/Equity 1.10 +10.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-10.93%

EPS CAGR

10Y-

5Y-

3Y-

TTM-0.6%

ROCE

10Y Avg-248.28%

5Y Avg-156.11%

3Y Avg-72.75%

Latest-65.24%

Peer Comparison

Neurostimulation & Neuromodulation

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BWAYBrainsWay Ltd.	452.42M	23.10	128.33	29.04%	12.73%	8.92%	1.44%	0.09
INSPInspire Medical Systems, Inc.	2.8B	96.47	55.13	28.49%	5.05%	6.69%	3.25%	0.05
TIVCTivic Health Systems, Inc.	3.11M	1.23	-0.06	-33.67%	-15.57%	-134.25%
COCHEnvoy Medical, Inc.	19.42M	0.67	-0.45	-28.8%	-104.75%
HSDTSolana Company	128.03M	3.10	-0.72	-19.25%	-393.59%	-6.89%		0.01
NXLNexalin Technology, Inc.	12.87M	0.69	-0.83	52.35%	-55.3%	-182.01%
CVRXCVRx, Inc.	143.37M	5.47	-2.06	30.53%	-92.95%	-108.26%		0.71
VANIVivani Medical, Inc.	91.92M	1.26	-2.93			-19.88%		1.10

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	8.95M	3.98M	7.96M	6.9M	3.38M	0	0	0	0	0
Revenue Growth %	1.63%	-0.55%	1%	-0.13%	-0.51%	-1%	-	-	-	-
Cost of Goods Sold+	4.3M	9.35M	7.75M	4.89M	2.15M	0	0	0	357K	0
COGS % of Revenue	0.48%	2.35%	0.97%	0.71%	0.64%	-	-	-	-	-
Gross Profit+	4.65M	-5.36M	211K	2.01M	1.23M	0	0	0	-357K	0
Gross Margin %	0.52%	-1.35%	0.03%	0.29%	0.36%	-	-	-	-	-
Gross Profit Growth %	30%	-2.15%	1.04%	8.52%	-0.39%	-1%	-	-	-	1%
Operating Expenses+	24.7M	27.85M	28.92M	36.83M	31.82M	9.24M	13.32M	21.24M	26.61M	24.68M
OpEx % of Revenue	2.76%	6.99%	3.63%	5.34%	9.42%	-	-	-	-	-
Selling, General & Admin	20.67M	21.77M	23.56M	26.63M	15.33M	2.38M	2.32M	5.37M	10M	8.93M
SG&A % of Revenue	2.31%	5.46%	2.96%	3.86%	4.54%	-	-	-	-	-
Research & Development	3.04M	5.35M	7.99M	10.21M	16.5M	6.87M	11M	14.17M	16.97M	15.74M
R&D % of Revenue	0.34%	1.34%	1%	1.48%	4.88%	-	-	-	-	-
Other Operating Expenses	991K	727K	-2.64M	0	0	0	0	1.7M	-357K	0
Operating Income+	-20.05M	-33.21M	-28.71M	-34.83M	-30.6M	-9.24M	-13.32M	-21.24M	-26.96M	-24.68M
Operating Margin %	-2.24%	-8.33%	-3.6%	-5.05%	-9.06%	-	-	-	-	-
Operating Income Growth %	0.06%	-0.66%	0.14%	-0.21%	0.12%	0.7%	-0.44%	-0.59%	-0.27%	0.08%
EBITDA+	-19.71M	-32.78M	-28.25M	-34.39M	-30.18M	-8.89M	-12.98M	-20.86M	-26.61M	-24.28M
EBITDA Margin %	-2.2%	-8.23%	-3.55%	-4.99%	-8.93%	-	-	-	-	-
EBITDA Growth %	0.06%	-0.66%	0.14%	-0.22%	0.12%	0.71%	-0.46%	-0.61%	-0.28%	0.09%
D&A (Non-Cash Add-back)	335K	432K	457K	435K	414K	354K	345K	381K	357K	400K
EBIT	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.24M	-13.32M	-19.54M	-25.65M	-24.68M
Net Interest Income+	-27K	0	0	0	362K	16K	0	0	0	0
Interest Income	2K	31K	93K	86K	362K	16K	0	0	0	0
Interest Expense	29K	0	0	0	0	0	0	0	0	0
Other Income/Expense	29K	31K	193K	-269K	-3M	-36K	550K	7.35M	1.31M	1.19M
Pretax Income+	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.28M	-12.77M	-13.89M	-25.65M	-23.49M
Pretax Margin %	-2.24%	-8.33%	-3.58%	-5.09%	-9.94%	-	-	-	-	-
Income Tax+	58K	31K	93K	86K	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.28M	-12.77M	-13.89M	-25.65M	-23.49M
Net Margin %	-2.24%	-8.33%	-3.58%	-5.09%	-9.94%	-	-	-	-	-
Net Income Growth %	0.43%	-0.66%	0.14%	-0.23%	0.04%	0.72%	-0.38%	-0.09%	-0.85%	0.08%
Net Income (Continuing)	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.28M	-12.77M	-13.89M	-25.65M	-23.49M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-4.09	-5.99	-4.01	-4.08	-2.15	-0.33	-0.33	-0.17	-0.50	-0.43
EPS Growth %	0.6%	-0.46%	0.33%	-0.02%	0.47%	0.85%	0%	0.48%	-1.94%	0.14%
EPS (Basic)	-4.09	-5.99	-4.01	-4.08	-2.15	-0.33	-0.33	-0.17	-0.50	-0.43
Diluted Shares Outstanding	4.89M	5.54M	7.11M	8.6M	15.61M	28.11M	36.25M	38.24M	50.85M	54.98M
Basic Shares Outstanding	4.89M	5.54M	7.11M	8.6M	15.61M	28.11M	36.25M	38.24M	50.85M	54.98M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	26.76M	15.28M	13.16M	9.62M	13.11M	2.43M	2.47M	47.53M	23.06M	20.44M
Cash & Short-Term Investments	15.96M	10.88M	7.84M	4.47M	11.33M	2.08M	2.18M	45.08M	20.65M	18.35M
Cash Only	15.96M	10.88M	604K	4.47M	11.33M	2.08M	2.18M	45.08M	20.65M	18.35M
Short-Term Investments	0	0	7.24M	0	0	0	0	0	0	0
Accounts Receivable	1.5M	274K	1.83M	504K	455K	0	0	0	0	253K
Days Sales Outstanding	61.21	25.1	83.92	26.68	49.15	-	-	-	-	-
Inventory	8.21M	3.42M	2.7M	3.25M	1.03M	0	0	0	0	0
Days Inventory Outstanding	696.49	133.37	127.11	242.69	174.53	-	-	-	-	-
Other Current Assets	1.09M	717K	795K	1.4M	299K	0	0	0	2.41M	1.84M
Total Non-Current Assets+	1.49M	1.53M	1.33M	1.06M	3.49M	2.79M	2.98M	3.6M	22.73M	21.12M
Property, Plant & Equipment	1.43M	1.49M	1.3M	1.02M	3.46M	2.59M	2.78M	1.96M	21.34M	19.65M
Fixed Asset Turnover	6.25x	2.68x	6.13x	6.73x	0.98x	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	5K	2K	0	0	0	0	0	0	1.34M	1.34M
Other Non-Current Assets	49K	39K	33K	37K	25K	200K	200K	1.64M	52K	131K
Total Assets+	28.25M	16.81M	14.5M	10.68M	16.6M	5.22M	5.45M	51.13M	45.8M	41.56M
Asset Turnover	0.32x	0.24x	0.55x	0.65x	0.20x	-	-	-	-	-
Asset Growth %	-0.34%	-0.4%	-0.14%	-0.26%	0.55%	-0.69%	0.05%	8.38%	-0.1%	-0.09%
Total Current Liabilities+	7.98M	5.66M	6.62M	7.6M	6.96M	2.19M	2.09M	6.82M	5.72M	5.99M
Accounts Payable	710K	1.16M	752K	1.3M	1.09M	223K	281K	1.18M	542K	817K
Days Payables Outstanding	60.24	45.13	35.4	97.45	185.38	-	-	-	554.15	-
Short-Term Debt	0	0	0	0	237K	637K	0	0	0	0
Deferred Revenue (Current)	322K	85K	48K	167K	335K	0	0	0	0	0
Other Current Liabilities	4.88M	2.82M	3.2M	3.44M	2.6M	0	0	385K	396K	343K
Current Ratio	3.35x	2.70x	1.99x	1.27x	1.88x	1.11x	1.18x	6.97x	4.03x	3.41x
Quick Ratio	2.32x	2.10x	1.58x	0.84x	1.74x	1.11x	1.18x	6.97x	4.03x	3.41x
Cash Conversion Cycle	697.46	113.33	175.63	171.91	38.29	-	-	-	-	-
Total Non-Current Liabilities+	0	0	0	0	2.37M	1.08M	902K	0	19.31M	17.96M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.37M	1.08M	902K	0	19.31M	17.96M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	4K	0	0	0	0
Total Liabilities	7.98M	5.66M	6.62M	7.6M	9.32M	3.27M	2.99M	6.82M	25.04M	23.95M
Total Debt+	0	0	0	0	2.6M	2.47M	1.81M	955K	20.7M	19.31M
Net Debt	-15.96M	-10.88M	-604K	-4.47M	-8.72M	386K	-366K	-44.12M	42K	961K
Debt / Equity	-	-	-	-	0.36x	1.27x	0.74x	0.02x	1.00x	1.10x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-691.28x	-	-	-	-	-	-	-	-	-
Total Equity+	20.27M	11.15M	7.88M	3.08M	7.28M	1.95M	2.46M	44.31M	20.76M	17.61M
Equity Growth %	-0.41%	-0.45%	-0.29%	-0.61%	1.36%	-0.73%	0.26%	16.97%	-0.53%	-0.15%
Book Value per Share	4.14	2.01	1.11	0.36	0.47	0.07	0.07	1.16	0.41	0.32
Total Shareholders' Equity	20.27M	11.15M	7.88M	3.08M	7.28M	1.95M	2.46M	44.31M	20.76M	17.61M
Common Stock	166.05M	186.77M	202.16M	229.02M	264.01M	43.03M	54.65M	5K	5K	6K
Retained Earnings	-172.68M	-205.86M	-234.38M	-269.47M	-304.78M	-46.12M	-58.9M	-72.79M	-98.44M	-121.92M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-376K	-455K	-572K	-575K	-562K	-448K	0	35K	140K	48K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-20.55M	-25.07M	-23.95M	-29.81M	-27.63M	-7.62M	-10.95M	-18.79M	-23.7M	-20.79M
Operating CF Margin %	-2.3%	-6.29%	-3.01%	-4.32%	-8.18%	-	-	-	-	-
Operating CF Growth %	-0.2%	-0.22%	0.04%	-0.24%	0.07%	0.72%	-0.44%	-0.72%	-0.26%	0.12%
Net Income	-20.02M	-33.18M	-28.52M	-35.09M	-33.59M	-9.28M	-12.77M	-13.89M	-25.65M	-23.49M
Depreciation & Amortization	335K	432K	457K	435K	414K	354K	345K	381K	357K	400K
Stock-Based Compensation	2.69M	3.37M	3.78M	0	0	1.04M	1.67M	1.3M	1.86M	1.61M
Deferred Taxes	0	0	0	0	-4.26M	0	0	0	0	0
Other Non-Cash Items	6.76M	8.08M	-324K	4.7M	9.78M	123K	-627K	-6.91M	1.02M	336K
Working Capital Changes	-3.88M	-950K	3.31M	425K	37K	146K	436K	338K	-1.29M	354K
Change in Receivables	-793K	955K	-1.41M	1.22M	48K	0	0	0	0	0
Change in Inventory	-2.49M	10K	3.87M	-1.18M	-347K	0	0	0	0	0
Change in Payables	197K	446K	-419K	554K	-213K	-18K	13K	-1.94M	-602K	248K
Cash from Investing+	17.52M	4.89M	2.84M	-163K	-493K	-150K	-572K	-338K	-887K	-556K
Capital Expenditures	-762K	-490K	-265K	-163K	-493K	-150K	-572K	-338K	-887K	-556K
CapEx % of Revenue	0.09%	0.12%	0.03%	0.02%	0.15%	-	-	-	-	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	2.76M	20.45M	21.17M	26.6M	34.99M	9.19M	11.62M	63.39M	133K	19.05M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-124K	0	0	0	0	0	0	55.37M	0	-18.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-21.31M	-25.56M	-24.21M	-29.97M	-28.12M	-7.77M	-11.52M	-19.13M	-24.59M	-21.34M
FCF Margin %	-2.38%	-6.41%	-3.04%	-4.35%	-8.32%	-	-	-	-	-
FCF Growth %	-0.21%	-0.2%	0.05%	-0.24%	0.06%	0.72%	-0.48%	-0.66%	-0.29%	0.13%
FCF per Share	-4.35	-4.61	-3.41	-3.49	-1.80	-0.28	-0.32	-0.50	-0.48	-0.39
FCF Conversion (FCF/Net Income)	1.03x	0.76x	0.84x	0.85x	0.82x	0.82x	0.86x	1.35x	0.92x	0.89x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	1K	1K	0	1K	2K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-72.94%	-211.21%	-299.66%	-640.05%	-648.56%	-201.17%	-578.62%	-59.39%	-78.85%	-122.42%
Return on Invested Capital (ROIC)	-78.5%	-1086.95%	-570.15%	-886.73%	-	-1564.84%	-450.61%	-1393.77%	-192.7%	-94.01%
Gross Margin	51.93%	-134.6%	2.65%	29.12%	36.31%	-	-	-	-	-
Net Margin	-223.66%	-832.6%	-358.06%	-508.9%	-994.14%	-	-	-	-	-
Debt / Equity	-	-	-	-	0.36x	1.27x	0.74x	0.02x	1.00x	1.10x
Interest Coverage	-691.28x	-	-	-	-	-	-	-	-	-
FCF Conversion	1.03x	0.76x	0.84x	0.85x	0.82x	0.82x	0.86x	1.35x	0.92x	0.89x
Revenue Growth	163.4%	-55.47%	99.85%	-13.41%	-51%	-100%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Vivani Medical, Inc. (VANI) grew revenue by 0.0% over the past year. Growth has been modest.

Vivani Medical, Inc. (VANI) reported a net loss of $26.0M for fiscal year 2024.

Dividend & Returns

Vivani Medical, Inc. (VANI) has a return on equity (ROE) of -122.4%. Negative ROE indicates the company is unprofitable.

Vivani Medical, Inc. (VANI) had negative free cash flow of $24.6M in fiscal year 2024, likely due to heavy capital investments.