Vivani Medical, Inc.
- Open
- 1.22
- Day high
- 1.23
- Day low
- 1.21
- Prev close
- 1.24
- Volume
- 19K
- Mkt cap
- $105M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 5.5
- P/S
- —
- Yield
- —
- Per share
- —
- ▲Insiders net buying $6.0M over the last 3 months (3 open-market buys, 0 sales)
- 🏛Institutions accumulating (13F)
Vivani Medical, Inc. (VANI) is a Healthcare company listed on NASDAQ. The stock is down 2% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 0 sales (SEC Form 4).
Vivani Medical, Inc. (VANI) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
VANI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 13, 2026 | $-0.08 | $-0.08 | +0.0% | — | — |
| Mar 26, 2026 | $-0.09 | $-0.09 | +0.0% | — | — |
| Nov 13, 2025 | $-0.12 | $-0.11 | +8.3% | — | — |
| Aug 13, 2025 | $-0.10 | $-0.12 | -20.0% | — | — |
| Mar 31, 2025 | $-0.10 | $-0.11 | -10.0% | $398000 | — |
| Nov 14, 2023 | $-0.13 | $-0.13 | +0.0% | — | — |
| Aug 14, 2023 | $-0.11 | $-0.13 | -18.2% | — | — |
| May 15, 2023 | $-0.11 | $-0.12 | -9.1% | — | — |
| Mar 31, 2023 | — | $-0.18 | — | — | — |
| Nov 14, 2022 | — | $0.04 | — | — | — |
| Aug 11, 2022 | — | $-0.08 | — | — | — |
| Nov 12, 2021 | — | $-0.11 | — | — | — |
VANI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 26, 2026 | Moretti August Jdirector | Grant | 36,000 | $1.22 |
| Jun 25, 2026 | Williams Greggdirector, 10 percent owner: | Grant | 36,516 | $1.22 |
| Jun 25, 2026 | Popoff Alexandra L.director | Grant | 36,516 | $1.22 |
| Jun 25, 2026 | BRADBURY DANIELdirector | Grant | 36,516 | $1.22 |
| Jun 25, 2026 | Mendelsohn Aarondirector | Grant | 36,516 | $1.22 |
| Jun 16, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 1,587,301 | $1.26 |
| May 19, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 1,587,301 | $1.26 |
| Apr 16, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 1,587,301 | $1.26 |
| Mar 16, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 264,551 | $1.26 |
| Mar 16, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 1,310,680 | $1.03 |
| Feb 17, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 1,601,941 | $1.03 |
| Feb 17, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 264,551 | $1.26 |
| Jan 28, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 1,351,351 | $1.48 |
| Jan 20, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 1,473,214 | $1.12 |
| Jan 20, 2026 | Williams Greggdirector, 10 percent owner: | Buy | 264,551 | $1.26 |
Source: VANI SEC Form 4 filings, latest Jun 26, 2026. For informational purposes only — not investment advice.
See the full VANI insider & 13F page →Vivani Medical, Inc. company profile
Overview
Vivani Medical, Inc. (NASDAQ:VANI) is a clinical-stage medical device company founded in 2014 and headquartered in Emeryville, California. The company went public in November 2014 and focuses on developing innovative implantable medical devices to address chronic diseases with significant unmet medical needs. Vivani operates as a pre-revenue company, dedicating its resources to advancing two primary technology platforms through clinical development stages.
Business
Vivani Medical operates in the medical device industry, specifically focusing on implantable technologies for chronic disease management. The company develops two distinct product categories that represent cutting-edge approaches to medical treatment. The first product line consists of miniature drug implants designed to deliver sustained, controlled medication release directly into patients' bodies. These devices are engineered to provide minimally fluctuating drug profiles, which means they can maintain consistent therapeutic drug levels in patients over extended periods without the peaks and valleys typically associated with oral medications or injections. This technology is particularly valuable for chronic conditions requiring long-term medication management, as it can improve patient compliance and therapeutic outcomes while reducing the burden of frequent dosing. The second major product category involves implantable visual prostheses devices, which represent a revolutionary approach to treating blindness. These devices are designed to deliver artificial vision to individuals who have lost their sight, essentially functioning as electronic substitutes for damaged or non-functioning retinal tissue. The technology works by converting visual information into electrical signals that can stimulate remaining viable retinal cells or optic nerve pathways, potentially restoring some degree of functional vision to blind patients. Both product lines are currently in clinical development stages, with the company conducting trials to demonstrate safety and efficacy before seeking regulatory approval from agencies like the FDA. As a clinical-stage company, Vivani has not yet generated revenue from product sales, instead focusing its resources on research, development, and clinical testing of these innovative medical technologies.
Competitive moat
Vivani Medical's competitive moat appears relatively narrow and uncertain at this stage of development. The company's primary potential advantages lie in intellectual property protection around its specific implant technologies and any first-mover advantages it might establish in niche therapeutic areas. However, as a clinical-stage company without proven commercial products, these moats remain largely theoretical. The medical device industry is highly competitive and dominated by large, well-resourced companies like Medtronic, Abbott, and Boston Scientific, which possess significant advantages in manufacturing capabilities, regulatory expertise, distribution networks, and financial resources. These established players could potentially develop competing technologies or acquire smaller companies with promising innovations. Additionally, the regulatory approval process for medical devices creates substantial barriers to entry but also represents a significant risk for companies like Vivani, as clinical trial failures could eliminate competitive positions entirely. The company's visual prostheses technology operates in a highly specialized field with few established competitors, which could provide some protection if successfully developed. However, this market may also be limited in size, potentially constraining growth opportunities. The drug delivery implant market faces more established competition from various drug delivery systems and pharmaceutical companies developing long-acting formulations. Overall, Vivani's moat strength will largely depend on successful clinical outcomes, regulatory approvals, and the company's ability to establish market presence before larger competitors can respond effectively.
Risks & safety
Vivani Medical presents significant financial risks with a narrow margin of safety for investors. • Cash burn and solvency: The company burns approximately $5-6 million per quarter with negative free cash flow of $21.3 million in 2024. With $13 million in cash as of Q1 2025, the company has roughly 6-8 quarters of runway at current burn rates. • Debt and leverage: Debt-to-equity ratio of 1.63 indicates substantial leverage, though this appears to include various liabilities beyond traditional debt. Current ratio of 2.4 provides some short-term liquidity buffer. • Valuation metrics: Trading at 5.4x book value with negative P/E ratios due to losses. Enterprise value to EBITDA of -2.6x reflects the pre-revenue status and ongoing losses. • Other considerations: Zero revenue generation, consistent quarterly losses of $5-6 million, and dependence on equity financing for survival create substantial downside risks. The company will likely need additional capital raises that could significantly dilute existing shareholders.
Recent development
Based on the available financial data, Vivani Medical has maintained consistent focus on its core development programs over recent years, though specific strategic details are limited due to the absence of earnings call transcripts. The company has demonstrated steady clinical development progress, as evidenced by sustained R&D spending of approximately $20-25 million annually. Notable financial developments include a significant capital raise activity visible in the balance sheet changes, with cash positions fluctuating from $45 million in 2022 to current levels around $13 million, suggesting ongoing equity financing rounds to fund operations. The company has maintained disciplined spending patterns with quarterly losses remaining relatively stable in the $5-6 million range, indicating controlled operational expenses during the clinical development phase. The consistent burn rate and maintained asset base suggest the company has been executing on planned clinical milestones, though without earnings call transcripts, specific pipeline progress, trial results, or strategic partnerships cannot be detailed. The reduction in cash reserves from 2022 levels indicates the company is progressing through capital-intensive clinical trial phases, which is typical for medical device companies advancing toward regulatory submissions.
VANI company profile · for informational purposes only — not investment advice.
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