$RANI
Rani Therapeutics Holdings, Inc.

2021 Q4 Form 10-K Financial Statement

#000095017022005088 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $2.717M $210.0K
YoY Change -100.0% 488.1%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.945M $27.83M $1.818M
YoY Change 227.01% 460.94%
% of Gross Profit
Research & Development $7.417M $26.48M $3.340M
YoY Change 122.07% 119.88%
% of Gross Profit
Depreciation & Amortization $113.0K $500.0K $142.0K
YoY Change -20.42% -16.67%
% of Gross Profit
Operating Expenses $13.36M -$54.32M $5.154M
YoY Change 159.25% 219.39%
Operating Profit -$51.60M
YoY Change 211.89%
Interest Expense $17.00K $466.0K -$82.00K
YoY Change -120.73% 275.81%
% of Operating Profit
Other Income/Expense, Net $0.00 -$371.0K -$718.0K
YoY Change -100.0% 488.89%
Pretax Income -$13.35M -$53.05M -$5.744M
YoY Change 132.33% 218.26%
Income Tax -$40.00K $41.00K $12.00K
% Of Pretax Income
Net Earnings -$5.189M -$8.331M -$5.756M
YoY Change -9.85%
Net Earnings / Revenue -306.62% -2740.95%
Basic Earnings Per Share -$0.43
Diluted Earnings Per Share -$105.9K -$170.0K -$127.9K
COMMON SHARES
Basic Shares Outstanding 19.53K
Diluted Shares Outstanding 19.53K

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.5M $117.5M
YoY Change 60.77%
Cash & Equivalents $117.5M $117.5M $73.06M
Short-Term Investments $0.00
Other Short-Term Assets $2.142M $2.142M
YoY Change 1182.63%
Inventory
Prepaid Expenses $2.142M $167.0K
Receivables
Other Receivables
Total Short-Term Assets $119.6M $119.6M $74.95M
YoY Change 59.58% 59.58%
LONG-TERM ASSETS
Property, Plant & Equipment $4.612M $4.612M $4.470M
YoY Change 3.18% 3.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $4.612M $4.612M $4.470M
YoY Change 3.18% 3.18%
TOTAL ASSETS
Total Short-Term Assets $119.6M $119.6M $74.95M
Total Long-Term Assets $4.612M $4.612M $4.470M
Total Assets $124.2M $124.2M $79.42M
YoY Change 56.4% 56.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.080M $1.080M $537.0K
YoY Change 101.12% 101.12%
Accrued Expenses $1.434M $1.434M $550.0K
YoY Change 160.73% 160.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.359M
YoY Change -100.0%
Total Short-Term Liabilities $2.640M $2.640M $5.308M
YoY Change -50.26% -50.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $2.412M
YoY Change -100.0%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00 $2.412M
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.640M $2.640M $5.308M
Total Long-Term Liabilities $0.00 $0.00 $2.412M
Total Liabilities $2.640M $76.80M $8.040M
YoY Change -67.16% 855.17%
SHAREHOLDERS EQUITY
Retained Earnings -$8.331M -$114.0M
YoY Change -92.69%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.41M $47.41M -$113.3M
YoY Change
Total Liabilities & Shareholders Equity $124.2M $124.2M $79.42M
YoY Change 56.4% 56.4%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$5.189M -$8.331M -$5.756M
YoY Change -9.85%
Depreciation, Depletion And Amortization $113.0K $500.0K $142.0K
YoY Change -20.42% -16.67%
Cash From Operating Activities -$11.45M -$32.20M -$6.700M
YoY Change 70.88% 115.24%
INVESTING ACTIVITIES
Capital Expenditures -$271.0K $506.0K -$256.0K
YoY Change 5.86% -57.83%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$271.0K -$506.0K -$256.0K
YoY Change 5.86% -57.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $71.10M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -570.0K 77.15M 68.65M
YoY Change -100.83% 6.14%
NET CHANGE
Cash From Operating Activities -11.45M -32.20M -6.700M
Cash From Investing Activities -271.0K -506.0K -256.0K
Cash From Financing Activities -570.0K 77.15M 68.65M
Net Change In Cash -12.29M 44.40M 61.69M
YoY Change -119.92% -21.46%
FREE CASH FLOW
Cash From Operating Activities -$11.45M -$32.20M -$6.700M
Capital Expenditures -$271.0K $506.0K -$256.0K
Free Cash Flow -$11.18M -$32.71M -$6.444M
YoY Change 73.46% 102.39%

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CY2021 us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><p style="text-indent:9.067%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">assets </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">and liabilities in the Company’s consolidated financial statements and accompanying notes. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Estimates include, but are not limited to, revenue recognition, equity-based compensation expense, accrued research and development costs and, until the occurrence of the Company's IPO, the fair value of Profits Interests and preferred unit warrants. Actual results may differ materially and adversely from these estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p>
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
2700000
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
0
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Concentrations of Credit Risk and Other Risks and Uncertainties</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><p style="text-indent:9.067%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains accounts in federally insured financial institutions in excess of federally insured limits. The Company also holds money market funds that are not federally insured. However, management believes the Company is not exposed to significant credit risk due to the financial strength of the depository institutions in which these deposits are held and of the money market funds and other entities in which these investments are made.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:9.067%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">In December 2019, a novel strain of coronavirus, which causes the disease known as COVID-19, was reported to have surfaced in Wuhan, China. Since then, COVID-19 coronavirus has spread globally. In March 2020, the World Health Organization declared the COVID-19 outbreak a pandemic. The COVID-19 pandemic has impacted and may continue to impact the Company’s third-party manufacturers and suppliers, which could disrupt its supply chain or the availability or cost of materials. The effects of the public health directives and the Company’s work-from-home policies may negatively impact productivity, disrupt its business, and delay clinical programs and timelines and future clinical trials, the magnitude of which will depend, in part, on the length and severity of the restrictions and other limitations on the Company’s ability to conduct business in the ordinary course. These and similar, and perhaps more severe, disruptions in the Company’s operations could negatively impact business, results of operations and financial condition, including its ability to obtain financing. To date, the Company has not incurred impairment losses in the carrying values of its assets as a result of the pandemic and is not aware of any specific related event or circumstances that would require the Company to revise its estimates reflected in these consolidated financial statements.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:9.067%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company cannot be certain what the overall impact of the COVID-19 pandemic will be on its business and prospects. The extent to which the COVID-19 pandemic will further directly or indirectly impact its business, results of operations, financial condition, and liquidity, including planned and future clinical trials and research and development costs, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19, the actions taken to contain or treat it, and the duration and intensity of the related effects. In addition, the Company could see some limitations on employee resources that would otherwise be focused on its operation, including but not limited to sickness of employees or their families, the desire of employees to avoid contact with large groups of people, and increased reliance on working from home. If the financial markets and/or the overall economy are impacted for an extended period, the Company’s business, financial condition, results of operations and prospects may be adversely affected.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><div style="font-size:10.0pt;font-family:Times New Roman;"><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Cash and Cash Equivalents</span></p><p style="text-indent:9.067%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company considers all cash held on deposit and highly liquid investments purchased with original or remaining maturities of less than three months at the date of purchase to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value. The Company’s cash and cash equivalents consist of balances held in demand depositary accounts and money market funds. The Company limits its credit risk associated with cash and cash equivalents by maintaining its bank accounts at major financial institutions.</span></p></div><div><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Fair Value of Financial Instruments</span><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;"> </span></p></div>
CY2021 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2021Q1 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
1700000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
115595000
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
71666000
CY2020Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
320000
CY2021Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
1.00
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3069000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2820000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2331000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1834000
CY2021Q4 rani Property Plant And Equipment Net Excluding Construction Projects In Progress
PropertyPlantAndEquipmentNetExcludingConstructionProjectsInProgress
738000
CY2020Q4 rani Property Plant And Equipment Net Excluding Construction Projects In Progress
PropertyPlantAndEquipmentNetExcludingConstructionProjectsInProgress
986000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4612000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4470000
CY2021 us-gaap Depreciation
Depreciation
500000
CY2020 us-gaap Depreciation
Depreciation
600000
CY2021Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
3500000
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
3500000
CY2021Q4 rani Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
621000
CY2020Q4 rani Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
145000
CY2021Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
213000
CY2020Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
181000
CY2021Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
202000
CY2020Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
136000
CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
398000
CY2020Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
88000
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1434000
CY2020Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
550000
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
0
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
2717000
CY2019Q4 us-gaap Deferred Revenue
DeferredRevenue
179000
CY2021 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
0
CY2020 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
3000000
CY2021 rani Deferred Revenue Deductions
DeferredRevenueDeductions
-2717000
CY2020 rani Deferred Revenue Deductions
DeferredRevenueDeductions
-462000
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
0
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
2717000
CY2021Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
0
CY2020Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
0
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
71100000
CY2021 rani Aggregate Desired Patent Acquisition
AggregateDesiredPatentAcquisition
1000000.0
CY2020 rani Legacy Cost
LegacyCost
200000
CY2021 rani Legacy Cost
LegacyCost
0
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Holders of Class A common stock are entitled to one vote per share; holders of Class B common stock are entitled to ten votes per share; and holders of Class C common stock have no voting rights. Except as otherwise expressly provided in the Amended and Restated Certificate of Incorporation or as required by law, the holders of Class A common stock and Class B common stock (and, on any matter on which the Class C common stock or the holders of preferred stock are entitled to vote with the Class A common stock and the Class B common stock, the Class C common stock and the preferred stock) will vote together as a single class and not as separate series or classes.
CY2021 rani Additional Common Stock Reserved For Future Issuance
AdditionalCommonStockReservedForFutureIssuance
2000000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2292309000
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.99
CY2021 rani Sharebased Compensation Arrangement By Sharebased Payment Award Options Grants Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsWeightedAverageRemainingContractualTerm
P9Y10M20D
CY2021 rani Share Based Compensation Arrangement By Share Based Payment Award Options Amended To Be Exercisable Into The Company Class A Common Stock In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAmendedToBeExercisableIntoTheCompanyClassACommonStockInPeriod
-2292309000
CY2021 rani Share Based Compensation Arrangements By Share Based Payment Award Options Amended To Be Exercisable In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsAmendedToBeExercisableInPeriodWeightedAverageExercisePrice
4.99
CY2021 rani Share Based Compensation Arrangement By Share Based Payment Award Options Amended To Be Exercisable Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAmendedToBeExercisableWeightedAverageRemainingContractualTerm
P9Y10M20D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0
CY2021 rani Share Based Compensation Number Of Profits Interests Canceled And Replaced With Restricted Stock Awards
ShareBasedCompensationNumberOfProfitsInterestsCanceledAndReplacedWithRestrictedStockAwards
-397500
CY2020Q4 rani Share Based Compensation Number Of Profits Interests Outstanding Number
ShareBasedCompensationNumberOfProfitsInterestsOutstandingNumber
6926358
CY2020Q4 rani Share Based Compensation Profit Interests Weighted Average Grant Date Fair Value
ShareBasedCompensationProfitInterestsWeightedAverageGrantDateFairValue
1.63
CY2021 rani Share Based Compensation Number Of Profits Interests Grants In Period Gross
ShareBasedCompensationNumberOfProfitsInterestsGrantsInPeriodGross
1857000
CY2021 rani Share Based Compensation Profit Interests Granted Weighted Average Grant Date Fair Value
ShareBasedCompensationProfitInterestsGrantedWeightedAverageGrantDateFairValue
2.13
CY2021 rani Share Based Compensation Number Of Profits Interests Forfeitures
ShareBasedCompensationNumberOfProfitsInterestsForfeitures
235957
CY2021 rani Share Based Compensation Profit Interests Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationProfitInterestsForfeituresWeightedAverageGrantDateFairValue
2.04
CY2021 rani Share Based Compensation Number Of Profits Interests Vested
ShareBasedCompensationNumberOfProfitsInterestsVested
8149901
CY2021 rani Share Based Compensation Profit Interests Vested Weighted Average Grant Date Fair Value
ShareBasedCompensationProfitInterestsVestedWeightedAverageGrantDateFairValue
1.70
CY2021 rani Share Based Compensation Number Of Profits Interests Canceled And Replaced With Restricted Stock Awards
ShareBasedCompensationNumberOfProfitsInterestsCanceledAndReplacedWithRestrictedStockAwards
-397500
CY2021 rani Share Based Compensation Profit Interests Canceled And Replaced With Restricted Stock Awards Weighted Average Grant Date Fair Value
ShareBasedCompensationProfitInterestsCanceledAndReplacedWithRestrictedStockAwardsWeightedAverageGrantDateFairValue
2.13
CY2021Q4 rani Share Based Compensation Number Of Profits Interests Outstanding Number
ShareBasedCompensationNumberOfProfitsInterestsOutstandingNumber
0
CY2021Q4 rani Share Based Compensation Profit Interests Weighted Average Grant Date Fair Value
ShareBasedCompensationProfitInterestsWeightedAverageGrantDateFairValue
0
CY2021 rani Ipo And Organizational Transactions Units Of Unvested Profits Interests
IpoAndOrganizationalTransactionsUnitsOfUnvestedProfitsInterests
1771767
CY2021 rani Incremental Equity Based Compensation Expense
IncrementalEquityBasedCompensationExpense
3000000.0
CY2021 rani Additional Recognized Compensation Expense
AdditionalRecognizedCompensationExpense
14000000.0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.817
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0107
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M12D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22595000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
41000
CY2021 us-gaap Description Of Lessee Leasing Arrangements Operating Leases
DescriptionOfLesseeLeasingArrangementsOperatingLeases
no renewal option periods were included in the estimated minimum lease terms as the options were not deemed to be reasonably assured to be exercised.
CY2020 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.2056
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
0
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
38000
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
34000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
41000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
35000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
35000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.010
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.003
CY2021 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
-0.053
CY2021 rani Effective Income Tax Rate Reconciliation Pass Through Loss Not Subject To Tax
EffectiveIncomeTaxRateReconciliationPassThroughLossNotSubjectToTax
-0.126
CY2020 rani Effective Income Tax Rate Reconciliation Pass Through Loss Not Subject To Tax
EffectiveIncomeTaxRateReconciliationPassThroughLossNotSubjectToTax
-0.219
CY2021 rani Effective Income Tax Rate Reconciliation Permanent Item
EffectiveIncomeTaxRateReconciliationPermanentItem
-0.001
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.029
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.038
CY2021 rani Uncertain Tax Position Percentage
UncertainTaxPositionPercentage
-0.004
CY2020 rani Uncertain Tax Position Percentage
UncertainTaxPositionPercentage
-0.006
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.066
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.022
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002
CY2021Q4 us-gaap Deferred Tax Assets Investments
DeferredTaxAssetsInvestments
25226000
CY2020Q4 us-gaap Deferred Tax Assets Investments
DeferredTaxAssetsInvestments
0
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1952000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
0
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1458000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
350000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
55000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
32000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
28691000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
382000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
28671000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
369000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
20000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13000
CY2021Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
20000
CY2020Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
13000
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
104000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
358000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
104000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
104000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
254000
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
300000
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-8331000
CY2021 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
19534000
CY2021 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.43
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33846405

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