Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 10,216	$ 3,762
Contract asset	0	428
Marketable securities	0	23,877
Prepaid expenses and other current assets	857	1,677
Total current assets	11,073	29,744
Property and equipment, net	1,144	1,548
Operating lease right-of-use asset	4,388	5,096
Other assets	293	246
Total assets	16,898	36,634
Current liabilities:
Accounts payable	1,798	1,359
Accrued expenses and other current liabilities	2,636	2,073
Current portion of long-term debt	15,000	15,000
Current portion of operating lease liability	1,189	1,459
Total current liabilities	20,623	19,891
Long-term debt, less current portion	2,229	9,613
Operating lease liability, less current portion	3,199	3,637
Total liabilities	26,051	33,141
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, $0.0001 par value - 20,000 shares authorized; none issued and outstanding as of June 30, 2025 and December 31, 2024	0	0
Additional paid-in capital	111,280	104,889
Accumulated other comprehensive gain	3	5
Accumulated deficit	(116,863)	(102,907)
Total stockholders' (deficit)/equity attributable to Rani Therapeutics Holdings, Inc.	(5,575)	1,992
Non-controlling interest	(3,578)	1,501
Total stockholders' (deficit)/equity	(9,153)	3,493
Total liabilities and stockholders' equity	16,898	36,634
Common Class A
Stockholders' equity:
Common stock, value	3	3
Common Class B
Stockholders' equity:
Common stock, value	2	2
Common Class C
Stockholders' equity:
Common stock, value	$ 0	$ 0