Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Loss Per Class A Common Share

The following table sets forth the computation of basic and diluted net loss per Class A common share attributable to Rani Holdings (in thousands, except per share data):


		Three Months Ended June 30,							Six Months Ended June 30,
		2026			2025				2026			2025
Numerator:
Net loss per Class A common share attributable to Rani Therapeutics Holdings, Inc.		$	(7,391	)	$	(6,692	)		$	(14,424	)	$	(13,956	)
Denominator:
Weighted average Class A common shares outstanding—basic and diluted*			187,168			36,542				180,038			34,999
Net loss per Class A common share attributable to Rani Therapeutics Holdings, Inc.—basic and diluted		$	(0.04	)	$	(0.18	)		$	(0.08	)	$	(0.40	)

*The pre-funded warrants (Note 9) are considered outstanding shares in the basic earnings per share calculation given their nominal exercise price (as of the beginning of the period or the date of the grant, whichever is earlier).

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table shows the total outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net loss per Class A common share attributable to Rani Holdings (in thousands):


		As of June 30,
		2026			2025
Paired Interests			23,970			23,970
Stock options			20,994			13,489
Warrants			131,569			13,537
Non-corresponding Class A Units			1,124			1,124
Restricted stock units			167			485
Shares issuable pursuant to the ESPP			138			56
			177,962			52,661