Vyome Holdings Inc (HIND) is a clinical-stage pharmaceutical company focused on developing drug candidates for dermatological and other conditions. Revenue is generated through a combination of ingredient sales, service fees, royalty income, and licensing and milestone fees, primarily tied to agreements involving luliconazole and dandruff products. The company reported total revenue of $319,714 in FY2025 and $256,944 in FY2024, against a net loss of $10,477,713 in FY2025 and $1,447,461 in FY2024, reflecting a pre-commercial operating profile. The company's pipeline includes VB-1953 for antibiotic-resistant and inflammatory acne, VT-1953 for malodor in malodorous fungating wounds, and VT-1908 for uveitis. The company renamed itself to Vyome Holdings Inc on August 15, 2025, following a reverse stock split. It is incorporated in Delaware and files with the SEC. Its patent portfolio covers the U.S., Japan, India, and South Korea.

Revenue model

Transactional and licensing revenue model: ingredient sales under a luliconazole agreement, service fees for dandruff product sale arrangements, royalty income on product sales, and licensing and milestone fees. FY2025 revenue was $319,714, with service fees of $116,900 and royalty income of $28,169 among the disclosed line items.

Products and services

Pipeline drug candidates: VB-1953 (antibiotic-resistant and inflammatory acne), VT-1953 (malodor in malodorous fungating wounds), VT-1908 (uveitis). Commercial agreements involve luliconazole-related ingredient sales and dandruff product arrangements. The company also holds patents around its MRT technology.

Customers and end markets

End markets include dermatology (acne, dandruff) and ophthalmology (uveitis). The filing does not disclose specific named customers or customer concentration data.

Value-chain role

Clinical-stage drug developer. The company licenses technology, earns royalties, and collects milestone and service fees while conducting and sponsoring preclinical and clinical trials. Manufacturing and certain research activities are conducted by third parties on the company's behalf.

Geographic exposure

Primary regulatory focus is the U.S. (FDA). The company also references EMA jurisdiction and holds patents in Japan, India, and South Korea. Operations involve compliance with GDPR in the EU and UK.

Source: SEC 10-K, filed 2026-03-18

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