Vivani Medical, Inc. (VANI) Income Statement
VANI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVANI revenue and net income
VANI profit margins
VANI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VANI quarterly EPS vs estimates
Vivani Medical beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.07).
VANI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $260 | $1,000 | $3.4M | $6.9M | $8.0M | $4.0M |
| Cost of revenue | $424,000 | $400,000 | $357,000 | $381,000 | $345,000 | $167,000 | $2.2M | $4.9M | $7.8M | $9.3M |
| Gross profit | −$424,000 | −$400,000 | −$357,000 | −$381,000 | −$345,000 | −$167,000 | $1.2M | $2.0M | $211,000 | −$5.4M |
| Research & development | $18.1M | $15.7M | $17.0M | $14.2M | $11.0M | $6.9M | $16.5M | $10.2M | $8.0M | $5.3M |
| Sales, general & admin | $9.4M | $8.9M | $10.0M | $5.4M | $2.3M | $2.4M | $15.3M | $22.0M | $20.5M | $19.1M |
| Total operating expenses | $27.1M | $24.7M | $26.6M | $21.2M | $13.3M | $9.2M | $31.8M | $36.8M | $28.9M | $27.8M |
| Operating income | −$27.6M | −$24.7M | −$27.0M | −$21.2M | −$13.3M | −$9.2M | −$30.6M | −$34.8M | −$28.7M | −$33.2M |
| Interest expense | — | — | — | $7.4M | $550,000 | $0 | $0 | $0 | — | — |
| Income before taxes | −$26.6M | −$23.5M | −$25.7M | −$13.9M | −$12.8M | −$9.3M | −$33.6M | −$35.1M | −$28.5M | −$33.2M |
| Income taxes | — | −$23.5M | — | −$7.4M | −$641,000 | $147,703 | $362,000 | $86,000 | $93,000 | $31,000 |
| Net income | −$26.6M | −$23.5M | −$25.7M | −$13.9M | −$12.8M | −$9.3M | −$33.6M | −$35.1M | −$28.5M | −$33.2M |
| EBITDA | −$26.2M | −$23.1M | −$25.3M | −$19.2M | −$12.4M | −$8.9M | −$33.2M | −$34.7M | −$28.1M | −$32.7M |
| EPS (diluted) | −$0.43 | −$0.44 | −$0.50 | −$0.28 | −$0.24 | −$2.43 | −$6.54 | −$9.76 | −$10.72 | −$18.96 |
| Gross margin | — | — | — | — | −132,692.3% | −16,700.0% | 36.3% | 29.1% | 2.6% | −134.6% |
| Operating margin | — | — | — | — | −5,124,230.8% | −924,300.0% | −905.5% | −505.0% | −360.5% | −833.4% |
| Net margin | — | — | — | — | −4,912,692.3% | −927,900.0% | −994.1% | −508.9% | −358.1% | −832.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $398,000 | $0 | $0 | $0 | $518,000 | $0 |
| Cost of revenue | — | $130,000 | $115,000 | $105,000 | — | $102,000 | $89,000 | $112,000 | $100,000 | $99,000 | $98,000 | $71,000 |
| Gross profit | — | −$130,000 | −$115,000 | −$105,000 | — | −$102,000 | −$89,000 | −$112,000 | −$100,000 | −$99,000 | −$98,000 | −$71,000 |
| Research & development | $4.5M | $4.3M | $4.6M | $4.5M | $4.8M | $4.2M | $4.3M | $4.2M | $3.5M | $3.7M | $4.7M | $4.4M |
| Sales, general & admin | $2.4M | $2.4M | $2.2M | $2.2M | $2.7M | $2.3M | $2.2M | $2.1M | $2.3M | $2.6M | $1.5M | $2.7M |
| Total operating expenses | $6.9M | $6.7M | $6.8M | $6.7M | $7.5M | $6.6M | $6.4M | $6.3M | $5.7M | $6.2M | $6.1M | $7.1M |
| Operating income | −$6.9M | −$6.8M | −$6.8M | −$6.7M | −$7.5M | −$6.6M | −$6.5M | −$6.3M | −$5.7M | −$6.2M | −$6.2M | −$7.1M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $283,000 | — |
| Income before taxes | −$6.4M | −$6.8M | −$6.6M | −$6.5M | −$7.1M | −$6.3M | −$6.0M | −$6.0M | −$5.4M | −$6.0M | −$6.0M | −$6.8M |
| Income taxes | — | — | — | — | — | — | −$55,724 | — | — | $55,724 | $283,000 | $110,586 |
| Net income | −$6.4M | −$6.8M | −$6.6M | −$6.5M | −$7.1M | −$6.3M | −$6.0M | −$6.0M | −$5.4M | −$6.0M | −$6.0M | −$6.8M |
| EBITDA | −$7.2M | −$6.7M | −$6.5M | −$6.4M | −$7.0M | −$6.2M | −$6.0M | −$5.9M | −$5.3M | −$5.9M | −$5.9M | −$6.7M |
| EPS (diluted) | −$0.07 | −$0.08 | −$0.09 | −$0.11 | −$0.12 | −$0.11 | −$0.11 | −$0.11 | −$0.10 | −$0.12 | −$0.12 | −$0.13 |
| Gross margin | — | — | — | — | — | — | −22.4% | — | — | — | −18.9% | — |
| Operating margin | — | — | — | — | — | — | −1,623.1% | — | — | — | −1,200.2% | — |
| Net margin | — | — | — | — | — | — | −1,520.1% | — | — | — | −1,163.3% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VANI's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VANI financial results
Vivani Medical reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $26.6 million. Diluted earnings per share came to −$0.43.
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VANI income statement FAQ
Does Vivani Medical have revenue?
Vivani Medical reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Vivani Medical profitable?
No. Vivani Medical reported a net loss of $26.6 million in fiscal 2025.
How much does Vivani Medical spend on research and development?
Vivani Medical spent $18.1 million on research and development in fiscal 2025.
What are Vivani Medical's earnings per share?
Vivani Medical earned $-0.43 per diluted share in fiscal 2025, compared with $-0.44 a year earlier.
When will Vivani Medical report its next earnings?
Vivani Medical is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does Vivani Medical's fiscal year end?
Vivani Medical's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.