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Side-by-side financial comparison of Inventiva S.A. (IVA) and Rani Therapeutics Holdings, Inc. (RANI). Click either name above to swap in a different company.

Inventiva S.A. is a clinical-stage biopharmaceutical company focused on developing innovative oral therapies for patients living with fibrosis, rare diseases, and oncological conditions. It advances a pipeline of targeted product candidates, with key operations across Europe and North America, serving patient populations with high unmet medical needs worldwide.

Rani Therapeutics Holdings, Inc. is a clinical-stage biotechnology company focused on developing orally deliverable alternatives to injectable biologic therapies. Its core proprietary RaniPill technology is a robotic drug delivery capsule that administers large molecule drugs directly to the intestinal wall, eliminating the need for painful injections. The company serves patients with chronic conditions including diabetes, autoimmune disorders and osteoporosis, and collaborates with leading pharmaceutical partners to advance its product pipeline.

IVA vs RANI — Head-to-Head

Bigger by revenue
IVA
IVA
Infinity× larger
IVA
$5.1K
$0
RANI

Income Statement — Q2 FY2024 vs Q3 FY2025

Metric
IVA
IVA
RANI
RANI
Revenue
$5.1K
$0
Net Profit
$-49.0M
$-5.4M
Gross Margin
Operating Margin
Net Margin
-961352.9%
Revenue YoY
Net Profit YoY
20.2%
EPS (diluted)
$-0.12

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
IVA
IVA
RANI
RANI
Q3 25
$0
Q2 25
$0
Q1 25
$172.0K
Q3 24
$0
Q2 24
$5.1K
$0
Q1 24
$0
Net Profit
IVA
IVA
RANI
RANI
Q3 25
$-5.4M
Q2 25
$-6.7M
Q1 25
$-7.3M
Q3 24
$-6.8M
Q2 24
$-49.0M
$-6.8M
Q1 24
$-7.5M
Operating Margin
IVA
IVA
RANI
RANI
Q3 25
Q2 25
Q1 25
-6984.3%
Q3 24
Q2 24
Q1 24
Net Margin
IVA
IVA
RANI
RANI
Q3 25
Q2 25
Q1 25
-4223.3%
Q3 24
Q2 24
-961352.9%
Q1 24
EPS (diluted)
IVA
IVA
RANI
RANI
Q3 25
$-0.12
Q2 25
$-0.18
Q1 25
$-0.22
Q3 24
$-0.24
Q2 24
$-0.26
Q1 24
$-0.29

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IVA
IVA
RANI
RANI
Cash + ST InvestmentsLiquidity on hand
$11.0M
$4.1M
Total DebtLower is stronger
$13.8M
Stockholders' EquityBook value
$-85.4M
$-7.9M
Total Assets
$42.6M
$10.1M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IVA
IVA
RANI
RANI
Q3 25
$4.1M
Q2 25
$10.2M
Q1 25
$10.1M
Q3 24
$4.3M
Q2 24
$11.0M
$4.5M
Q1 24
$6.9M
Total Debt
IVA
IVA
RANI
RANI
Q3 25
$13.8M
Q2 25
$17.5M
Q1 25
$21.3M
Q3 24
$28.8M
Q2 24
$30.0M
Q1 24
$30.0M
Stockholders' Equity
IVA
IVA
RANI
RANI
Q3 25
$-7.9M
Q2 25
$-5.6M
Q1 25
$-3.1M
Q3 24
$3.1M
Q2 24
$-85.4M
$2.8M
Q1 24
$7.4M
Total Assets
IVA
IVA
RANI
RANI
Q3 25
$10.1M
Q2 25
$16.9M
Q1 25
$24.1M
Q3 24
$43.5M
Q2 24
$42.6M
$43.7M
Q1 24
$53.5M
Debt / Equity
IVA
IVA
RANI
RANI
Q3 25
Q2 25
Q1 25
Q3 24
9.21×
Q2 24
10.58×
Q1 24
4.06×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IVA
IVA
RANI
RANI
Operating Cash FlowLast quarter
$-5.1M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IVA
IVA
RANI
RANI
Q3 25
$-5.1M
Q2 25
$-5.8M
Q1 25
$-8.1M
Q3 24
$-8.4M
Q2 24
$-9.0M
Q1 24
$-9.4M
Free Cash Flow
IVA
IVA
RANI
RANI
Q3 25
Q2 25
$-5.8M
Q1 25
$-8.2M
Q3 24
$-8.5M
Q2 24
$-9.1M
Q1 24
$-9.4M
FCF Margin
IVA
IVA
RANI
RANI
Q3 25
Q2 25
Q1 25
-4767.4%
Q3 24
Q2 24
Q1 24
Capex Intensity
IVA
IVA
RANI
RANI
Q3 25
Q2 25
Q1 25
29.7%
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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