What is the 13F Pro Quality Score for VANI?

13F Pro ranks Vivani Medical, Inc. (VANI) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View VANI's current score at https://13fpro.ai/research/VANI (free sign-up required for the full ranking).

Where does 13F Pro source VANI data?

All Vivani Medical, Inc. fundamentals and ownership data come directly from SEC EDGAR. Vivani Medical, Inc. files with the SEC under CIK 1266806. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is VANI in?

Vivani Medical, Inc. (VANI) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is VANI research updated on 13F Pro?

VANI's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Vivani Medical, Inc.(VANI)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Below size threshold

Quality rankings require at least $50M annual revenue or $250M total assets to filter out micro-caps and shell companies. This company reported $8.9M in revenue.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

VANI Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Vivani Medical, Inc. (VANI), a Healthcare sector company. VANI is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least $50m annual revenue or $250m total assets to filter out micro-caps and shell companies. this company reported $8.9m in revenue. Based on the latest XBRL financial filings (Q1 2026), Vivani Medical, Inc. reports net income of $-6.8M, free cash flow of $-6.2M. Top institutional holders of VANI by reported 13-F value include VANGUARD CAPITAL MANAGEMENT, Tanager Wealth Management LLP, GEODE CAPITAL MANAGEMENT,, based on the most recent SEC filings. VANI trades on the Nasdaq exchange and files with the SEC under CIK 1266806. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate VANI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Vivani Medical, Inc. directly from SEC EDGAR.

Net Income

Q1 2026

$-6.8M

Free Cash Flow

Q1 2026

$-6.2M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

—FY 2023

FY19 $3.4MFY20 —FY22 —FY23 —

Net Income

+284.7% YoY

$25.7MFY 2023

FY19 $-33.6MFY20 $-14.9MFY22 $-13.9MFY23 $25.7M

Operating Income

-26.9% YoY

$-27.0MFY 2023

FY19 $-34.0MFY20 $-14.9MFY22 $-21.2MFY23 $-27.0M

EPS (Diluted)

$-0.50FY 2023

FY19 —FY20 —FY22 —FY23 $-0.50

Total Assets

-10.4% YoY

$45.8MFY 2023

FY19 $16.6MFY20 $4.5MFY22 $51.1MFY23 $45.8M

Total Debt

—FY 2023

FY19 —FY20 $2.2MFY22 —FY23 —

Op. Cash Flow

-26.1% YoY

$-23.7MFY 2023

FY19 $-27.6MFY20 $-16.8MFY22 $-18.8MFY23 $-23.7M

Metric	FY 2023	FY 2022	FY 2020	FY 2019	FY 2017	FY 2016
Revenue	—	—	—	$3.4M -57.6%	$8.0M +99.1%	$4.0M
Net Income	$25.7M +284.7%	$-13.9M +6.7%	$-14.9M +55.7%	$-33.6M -17.8%	$-28.5M +14.1%	$-33.2M
Operating Income	$-27.0M -26.9%	$-21.2M -42.6%	$-14.9M +56.1%	$-34.0M -18.7%	$-28.6M +13.9%	$-33.2M
EPS (Diluted)	$-0.50	—	—	—	—	—
Total Assets	$45.8M -10.4%	$51.1M +1046.4%	$4.5M -73.1%	$16.6M +14.5%	$14.5M -13.8%	$16.8M
Total Debt	—	—	$2.2M	—	—	—
Operating Cash Flow	$-23.7M -26.1%	$-18.8M -11.7%	$-16.8M +39.1%	$-27.6M -15.4%	$-23.9M +4.5%	$-25.1M

AI Insight: VANI Financial Trends

Pre-revenue biotech burning ~$7M quarterly with equity eroded to $1M by Q3 2025; recent capital raise stabilized balance sheet but runway remains critical.

• Net income and operating income stabilized at -$7M/quarter from Q2 2025 onward, indicating consistent cash burn rate.

• Equity collapsed from $24M (Q2 2024) to $1M (Q3 2025), then recovered to $19M (Q1 2026) — signaling recent financing event.

⚠ Zero revenue across all reported periods; company remains entirely pre-commercial with no product-market validation yet visible.

⚠ Operating cash flow persistently negative at -$5M to -$7M/quarter; at current burn, ~27-month runway from Q1 2026 equity base.

AI Insight: VANI Ratio Trends

Vivani Medical remains deeply unprofitable with negative ROE and ROA throughout the entire period, showing no meaningful improvement trajectory.

• ROA deteriorated to -64.0% in Q1 2026 (TTM), matching Q2 2024 lows, indicating persistent asset efficiency struggles.

• ROE worsened to -142.1% in Q1 2026 from -89.9% in Q2 2024, signaling accelerating shareholder value destruction.

⚠ Q4 2025 ROE spiked to -168.7%, the worst in the dataset—investigate one-time charges or seasonal loss drivers.

⚠ No operating margin, NPM, ROIC, or leverage data available; inability to assess profitability path or capital structure risk.

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Available Research

13F Pro tracks comprehensive data for Vivani Medical, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of VANI

VANGUARD CAPITAL MANAGEMENT LLC
$1.5M1,530,933 sh
Tanager Wealth Management LLP
$641.1K641,085 sh
GEODE CAPITAL MANAGEMENT, LLC
$600.7K600,578 sh
TUDOR INVESTMENT CORP ET AL
$426.3K426,302 sh
UBS Group AG
$337.7K337,749 sh
COMMONWEALTH EQUITY SERVICES, LLC
$330.6K330,565 sh
BlackRock, Inc.
$297.5K297,498 sh
VANGUARD FIDUCIARY TRUST CO
$263.8K263,831 sh
MONETARY MANAGEMENT GROUP INC
$194.0K193,977 sh
STATE STREET CORP
$155.0K154,965 sh

Fund	Value	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$1.5M	1,530,933
Tanager Wealth Management LLP	$641.1K	641,085
GEODE CAPITAL MANAGEMENT, LLC	$600.7K	600,578
TUDOR INVESTMENT CORP ET AL	$426.3K	426,302
UBS Group AG	$337.7K	337,749
COMMONWEALTH EQUITY SERVICES, LLC	$330.6K	330,565
BlackRock, Inc.	$297.5K	297,498
VANGUARD FIDUCIARY TRUST CO	$263.8K	263,831
MONETARY MANAGEMENT GROUP INC	$194.0K	193,977
STATE STREET CORP	$155.0K	154,965

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Is VANI a good stock to buy?

13F Pro's AI-powered analysis of Vivani Medical, Inc. (VANI) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for VANI are available on the VANI stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own VANI?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling VANI. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Vivani Medical, Inc.'s investment landscape.