RAIN

MKT CAP:$19M

Rain Enhancement Technologies Holdco Inc

Market Cap

$19M

Utilities·Renewable Utilities·🇺🇸 United States·NASDAQ

Utilities·Renewable·🇺🇸·NASDAQ

Stock Price

$2.53-$2.47 (-49.40%)

Apr 21, 2026

Company Details

Rain Enhancement Technologies Holdco, Inc. operates as a holding company. The Company, through its subsidiaries, develops and commercializes ionization rainfall generation technology to provide additional rainfall for industries, supranatio...

CEO

Randall Seidl

IPO Date

Jan 2, 2025

Website

rainwatertech.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$9M

EPS (Diluted)

-$1.20

Free Cash Flow

-$2M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

FY 2025

Apr 15, 2026

NEW

$0EPS -$1.20

Q4 2025

Apr 15, 2026

NEW

$0EPS -$0.57

Q3 2025

Nov 13, 2025

$0EPS -$0.29

Q2 2025

Aug 14, 2025

$0EPS -$0.13

Q1 2025

May 15, 2025

$0EPS -$0.21

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$0	$0	-$7M
Q2 21	$0	$0	-$8M
Q3 21	$0	$0	-$18M
Q2 22	$0	$0	-$283.7K
Q3 22	$0	$0	-$410.6K
Q1 23	$0	$0	-$447.4K
Q2 23	$0	$0	-$392.3K
Q4 23	$0	$0	-$42.7K
Q1 24	$0	$0	-$23.9K
Q2 24	$0	$0	-$317.4K
Q3 24	$0	$0	-$3M
Q4 24	$0	$0	-$1M
Q1 25	$0	-$2.9K	-$1M
Q2 25	$0	$0	-$1M
Q3 25	$0	-$2.9K	-$2M
Q4 25	$0	-$9.8K	-$4M

Valuation

Quarter	P/S	P/E
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	—	—
Q2 23	—	7.9x
Q4 23	—	14.8x
Q1 24	—	17.5x
Q2 24	—	36.3x
Q3 24	—	—
Q4 24	—	—
Q1 25	—	—
Q2 25	—	—
Q3 25	—	—
Q4 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	-$2M	-$2M
Q4 20	-$4M	-$4M
Q1 21	-$5M	-$5M
Q2 21	-$11M	-$11M
Q3 21	-$12M	-$15M
Q2 22	-$189.7K	-$189.8K
Q3 22	-$173.3K	-$173.3K
Q1 23	-$167.0K	-$167.0K
Q2 23	-$106.9K	-$106.9K
Q4 23	-$26.1K	-$67.0K
Q2 24	-$59.2K	-$62.6K
Q4 24	-$1M	-$1M
Q1 25	-$1M	-$1M
Q2 25	-$383.3K	-$856.7K
Q3 25	-$234.0K	-$479.7K
Q4 25	-$328.7K	$529.8K

Capital Expenditures

Quarter	CapEx
Q3 20	$3.0K
Q4 20	$35.0K
Q1 21	$29.0K
Q2 21	$14.0K
Q3 21	$3M
Q2 22	$1
Q3 22	$2
Q1 23	$2
Q2 23	$0
Q4 23	$40.9K
Q2 24	$3.4K
Q4 24	$1
Q1 25	$139.4K
Q2 25	$473.3K
Q3 25	$245.8K
Q4 25	$858.5K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	—	+180.2%
Q2 21	—	+215.9%
Q3 21	—	+117.3%
Q2 22	—	-94.8%
Q3 22	—	-94.0%
Q1 23	—	-94.5%
Q2 23	—	-97.9%
Q4 23	—	-85.0%
Q1 24	—	-94.2%
Q2 24	—	-29.1%
Q3 24	—	+664.8%
Q4 24	—	+2622.7%
Q1 25	—	+5518.2%
Q2 25	—	+238.0%
Q3 25	—	-47.0%
Q4 25	—	+222.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$201.0K	—
Q4 20	$269.0K	—
Q1 21	$165.0K	—
Q2 21	$793.0K	—
Q3 21	$862.0K	—
Q2 22	$0	—
Q3 22	$0	—
Q1 23	$0	—
Q2 23	$0	—
Q4 23	$0	—
Q2 24	$0	—
Q4 24	$57.0K	—
Q1 25	$0	—
Q2 25	$0	—
Q3 25	$0	—
Q4 25	$2M	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 21	$5M	$1M	—
Q2 21	$5M	$3M	—
Q3 21	$15M	$3M	—
Q2 22	—	—	$283.7K
Q3 22	—	—	$410.6K
Q1 23	—	—	$447.4K
Q2 23	—	—	$392.3K
Q4 23	—	$42.6K	—
Q1 24	—	$21.0K	—
Q2 24	—	$314.5K	—
Q3 24	—	$3M	—
Q4 24	—	$1M	—
Q1 25	—	$1M	—
Q2 25	—	$1M	—
Q3 25	$46.2K	—	$2M
Q4 25	$15.8K	$4M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$22M	$102M	$123M
Q2 22	$43M	$62M	$106M
Q3 22	$40M	$51M	$91M
Q4 22	$62M	$68M	$130M
Q1 23	$44M	$66M	$110M
Q2 23	$40M	$46M	$86M
Q3 23	$37M	$40M	$77M
Q4 23	$37.3K	$0	$37.3K
Q1 24	$0	$0	$0
Q2 24	$0	$0	$0
Q3 24	$239.9K	$0	$239.9K
Q4 24	$32.6K	$0	$32.6K
Q1 25	$273.1K	$0	$273.1K
Q2 25	$16.5K	$0	$16.5K
Q3 25	$236.7K	$0	$236.7K
Q4 25	$213.7K	$0	$213.7K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	4M	+143.7%	+143.7%
Q2 21	3M	-19.8%	+95.4%
Q3 21	4M	+27.1%	+148.3%
Q2 22	4M	+0.2%	+148.9%
Q3 22	4M	+0.1%	+2.3%
Q1 23	6M	+36.8%	+74.5%
Q2 23	6M	+0.1%	+37.4%
Q4 23	7M	+13.2%	+55.2%
Q1 24	7M	-3.4%	+49.7%
Q2 24	7M	0.0%	+9.4%
Q3 24	7M	+3.5%	+13.2%
Q4 24	7M	+5.3%	+5.3%
Q1 25	7M	0.0%	+9.0%
Q2 25	8M	+5.0%	+14.5%
Q3 25	8M	-0.8%	+9.7%
Q4 25	8M	0.0%	+4.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	—	—
Q2 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$0	5
Q1 25	$0	5
Q2 25	$0	5
Q3 25	$0	5
Q4 25	$0	5

Revenue / Employee