Vivani Medical, Inc. (VANI) AI Stock Analysis
VANI AI stock analysis summary
AI ResearchVivani Medical, Inc. (VANI) is a clinical-stage biotechnology company developing miniature drug delivery implants and visual prostheses. For the trailing twelve months ended June 30, 2026, the company generated $0 in revenue and an EPS of -$0.36. As of June 30, 2026, it held $19.9M in cash and short-term investments against total debt of $17.9M.
- Market cap
- $101.0M
- Revenue (TTM)
- $0
- P/E
- —
- 1Y return
- -24.3% S&P 500 16.8%
- Avg. target
- $3.83 242.3% vs last close
Bull case
- Wall Street analysts have set a mean price target of $3.83, implying a 242.3% premium over the last close of $1.12.
- Short-term liquidity remains supported by a current ratio of 3.25 and net cash of $2.0M as of June 30, 2026.
- Company insiders maintain high ownership alignment, holding 55.4% of the outstanding shares.
Bear case
- The company generated $0 in revenue over the trailing twelve months ended June 30, 2026, and analysts project $0 in revenue for the next fiscal year.
- Long-term share performance has significantly lagged the broader market, falling 87.2% over 5 years while the S&P 500 rose 83.0%.
- Shareholders have experienced substantial equity dilution, as the 5-year share count increased by 121.0%.
What Vivani Medical does
Vivani Medical, Inc. is an innovative clinical-stage company based in Emeryville, California, specializing in the development of advanced implants aimed at addressing chronic diseases with significant unmet medical needs. The company focuses on creating miniature drug implants designed to provide stable and consistent drug delivery profiles, minimizing fluctuations in drug levels to enhance therapeutic efficacy. In addition to its drug delivery systems, Vivani Medical develops implantable visual prostheses devices intended to offer functional artificial vision to individuals who are blind.
Growth and profitability
Vivani generated $8.0M in revenue in FY2017, which declined to $6.9M in FY2018, $3.4M in FY2019, $1,000 in FY2020, and $260 in FY2021, representing a 5-year revenue CAGR of -85.4% from FY2016 to FY2021. Annual net income was -$28.5M in FY2017, -$35.1M in FY2018, -$33.6M in FY2019, -$9.3M in FY2020, and -$12.8M in FY2021, with R&D expenses standing at $11.0M in FY2021. Over the trailing twelve months ended June 30, 2026, revenue was $0, EPS was -$0.36, and return on equity was -220.4%.
Balance sheet and cash flow
As of June 30, 2026, Vivani reported $19.9M in cash and short-term investments alongside total debt of $17.9M, resulting in net cash of $2.0M. The company maintained a current ratio of 3.25 and a debt-to-equity ratio of 0.94 against shareholders' equity of $19.0M and total assets of $41.6M. In FY2025, capital expenditures were $1.2M, share buybacks totaled $28,000, and common share count expanded by 121.0% over the preceding 5 years.
Valuation and performance
Vivani carries a market capitalization of $101.0M and an enterprise value of $108.9M, trading at a price-to-book ratio of 5.8x. In comparison, the median of its US-listed Healthcare peers trades at a trailing P/E of 24.6x, a forward P/E of 17.3x, and a price-to-sales multiple of 4.1x. Vivani shares fell 24.3% over the past year, trailing the S&P 500 (SPY) return of 16.8%, and have declined 87.2% over a 5-year span compared to an 83.0% gain for the index.
What analysts expect
Wall Street coverage includes 2 Strong Buy ratings and 1 Buy rating, with no Hold, Sell, or Strong Sell recommendations. The mean price target is $3.83, reflecting a 242.3% upside compared to the last close of $1.12 on October 16, 2026. For the current fiscal year ending December 31, 2026, consensus estimates project $0 in revenue and an EPS of -$0.33. Vivani has surpassed EPS estimates in 2 of the last 4 quarters, and its next earnings date is November 12, 2026.
Key risks and what to watch
- Sustained operating losses pose ongoing financial pressure, reflected in a trailing twelve months return on equity of -220.4% and EPS of -$0.36.
- Total debt of $17.9M leaves a narrow buffer above cash and short-term investments of $19.9M as of June 30, 2026.
- High equity volatility is underscored by a beta of 3.30 and a wide 52-week trading range between $0.92 and $1.92.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this VANI AI stock analysis
This page is an AI-written research summary of Vivani Medical, Inc. (VANI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: VANI income statement, VANI balance sheet, VANI key metrics, VANI analyst forecast, VANI chart. See the VANI stock overview for the latest quote and news.
VANI AI stock analysis FAQ
What products does Vivani Medical develop?
Vivani Medical, Inc. is a clinical-stage biotechnology company developing miniature drug delivery implants for chronic diseases and implantable visual prostheses devices to provide artificial vision.
Does Vivani Medical pay a dividend?
Vivani Medical does not pay a dividend on its common stock.
What is Vivani Medical's financial position?
As of June 30, 2026, the company held $19.9M in cash and short-term investments against $17.9M in total debt, resulting in net cash of $2.0M and a current ratio of 3.25.
What are analysts forecasting for Vivani Medical stock?
Analysts hold 2 Strong Buy and 1 Buy ratings with an average price target of $3.83, while estimating FY2026 revenue of $0 and an EPS of -$0.33.