A Business at a Glance
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Item 1. Business Vivani Medical, Inc. (“Vivani,” the “Company,” “we,” “us,” “our” or similar terms) is a clinical stage biopharmaceutical company which develops miniaturized, subdermal drug implants utilizing its proprietary NanoPortal™ technology, which is designed to enable ultra long-acting, near constant-rate delivery of a broad range of medicines to treat chronic diseases. Vivani uses this platform technology to develop and potentially commercialize drug implant candidates, alone or in collaboration with pharmaceutical company partners, to address a leading cause of poor clinical outcomes in the treatment of chronic disease, medication non-adherence. According to the U.S. Centers for Disease Control and Prevention, adherence is defined as the extent to which an individual’s behavior, including taking medications, corresponds to recommendations from a health care provider.
| Metric | TTM | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|
| Revenue | 0 | - | - | - |
| Net Income | -26M | -34M | -35M | -29M |
| EPS | $-0.45 | $-6.84 | $-12.69 | $-12.72 |
| Free Cash Flow | -25M | -28M | -30M | -24M |
| ROIC | -93446.7% | -368.7% | -901.2% | -286.7% |
| Gross Margin | - | - | - | - |
| Debt/Equity | 0.00 | 1.28 | 2.46 | 0.84 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -27M | -34M | -35M | -29M |
| Operating Margin | 0.0% | - | - | - |
| ROE | -1988.2% | -461.7% | -1137.9% | -361.8% |
| Shares Outstanding | 73M | 5M | 3M | 2M |
| Metric | 2017 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | N/A | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | -29M | -35M | -34M | -27M |
| Op. Margin | N/A | N/A | N/A | 0.0% |
| Net Income | -29M | -35M | -34M | -26M |
| Net Margin | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 555K | 3.4M | 3.4M |
| Returns on Capital | ||||
| ROIC | N/M | N/M | N/M | N/M |
| ROE | -361.8% | -1137.9% | -461.7% | -1988.2% |
| ROA | -196.7% | -328.5% | -202.4% | -113156.5% |
| Cash Flow | ||||
| Op. Cash Flow | -24M | -30M | -28M | -23M |
| Free Cash Flow | -24M | -30M | -28M | -25M |
| Owner Earnings | -28M | -34M | -31M | -27M |
| CapEx | 265K | 163K | 493K | 1.2M |
| Maint. CapEx | 457K | 435K | 397K | 397K |
| Growth CapEx | 0 | 0 | 96K | 798K |
| D&A | 457K | 435K | 397K | 397K |
| CapEx/OCF | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 3.8M | 3.6M | 2.9M | 2.9M |
| Debt Repayment | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||
| Net Debt | N/A | N/A | N/A | -2.6M |
| Cash & Equiv. | N/A | N/A | N/A | 2.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.84 | 2.46 | 1.28 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A |
| Equity | 7.9M | 3.1M | 7.3M | 1.3M |
| Total Assets | 14M | 11M | 17M | 23K |
| Total Liabilities | 6.6M | 7.6M | 9.3M | 24M |
| Intangibles | N/A | N/A | N/A | N/A |
| Retained Earnings | -234M | -269M | -305M | -305M |
| Working Capital | 6.6M | 2.0M | 6.2M | 6.2M |
| Current Assets | 13M | 9.6M | 13M | 13M |
| Current Liabilities | 6.6M | 7.6M | 7.0M | 7.0M |
| Per Share Data | ||||
| EPS | -12.72 | -12.69 | -6.84 | -0.45 |
| Owner EPS | -12.57 | -12.23 | -6.30 | -0.37 |
| Book Value | 3.52 | 1.12 | 1.48 | 0.02 |
| Cash Flow/Share | -10.68 | -10.78 | -5.63 | -0.35 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 2.2M | 2.8M | 4.9M | 73.0M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -2.3 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A |
| Price/Book | 13.7 | 20.2 | 12.0 | 58.5 |
| Price/Sales | N/A | N/A | N/A | N/A |
| FCF Yield | -22.4% | -48.0% | -32.2% | -32.1% |
| Market Cap | 108M | 62M | 87M | 77M |
| Avg. Price | 32.06 | 40.15 | 19.86 | 1.05 |
| Year-End Price | 48.24 | 22.56 | 17.76 | 1.05 |
Vivani Medical, Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
Vivani Medical, Inc. (VANI) has a market capitalization of $77M. It is classified as a small-cap stock.
Vivani Medical, Inc. (VANI) does not currently pay a regular dividend.
Vivani Medical, Inc. (VANI) operates in the Electromedical & Electrotherapeutic Apparatus industry, within the Healthcare sector.
Vivani Medical, Inc. (VANI) generated $-28 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Vivani Medical, Inc. (VANI) has a debt-to-equity ratio of 1.28. This indicates moderate leverage.
Vivani Medical, Inc. (VANI) reported earnings per share (EPS) of $-6.84 in its most recent fiscal year.
Vivani Medical, Inc. (VANI) has a return on equity (ROE) of -461.7%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 3 years of financial data for Vivani Medical, Inc. (VANI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Vivani Medical, Inc. (VANI) has a book value per share of $1.48, based on its most recent annual SEC filing.