Modular Medical, Inc. MODD
and commercialization of innovative insulin pumps using modernized technology to increase pump adoption in the diabetes marketplace. Through
the creation of an innovative two-part patch pump, we seek to fundamentally alter the trade-offs between cost and complexity and access
to the higher standards of care that presently require considerable motivation from the patient to use the available insulin pump offerings.
By simplifying and streamlining the user experience from the initial introduction of the patient to our product, prescription assistance,
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | $0 | $0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | $0 |
| Gross profit | — | — | — | — | — | — | — | — | — | $0 |
| R&D | $20.0M | $14.7M | $12.9M | $9.1M | $7.7M | $4.1M | $3.0M | $1.9M | $332.6K | $0 |
| SG&A | $7.6M | $4.4M | $4.6M | $4.8M | $7.2M | $3.3M | $2.3M | $695.0K | $98.7K | $11.6K |
| Total operating expenses | $27.6M | $19.0M | $17.5M | $13.9M | $14.9M | $7.3M | $5.3M | $2.6M | $666.2K | $29.4K |
| Operating income | -$27.6M | -$19.0M | -$17.5M | -$13.9M | -$14.9M | -$7.3M | -$5.3M | -$2.6M | -$666.2K | -$29.4K |
| Interest expense | — | — | — | — | $2.8M | $39.8K | $0 | $39.4K | $8.5K | $962 |
| Pre-tax income | -$28.2M | -$18.8M | -$17.5M | -$13.9M | -$18.6M | -$7.4M | -$5.3M | -$2.5M | -$657.6K | -$28.5K |
| Income tax | $2.0K | $2.0K | $2.0K | $2.0K | $1.6K | $1.6K | $1.6K | $1.6K | $1.6K | $800 |
| Net income | -$28.2M | -$18.8M | -$17.5M | -$13.9M | -$18.6M | -$7.4M | -$5.3M | -$2.5M | -$659.2K | -$29.3K |
| EPS, basic | -12.36 | -15.26 | -0.78 | -1.15 | -2.74 | — | — | — | — | — |
| EPS, diluted | -12.36 | -15.26 | -0.78 | -1.15 | -2.74 | -0.40 | -0.30 | -0.15 | -0.05 | -0.00 |
| Shares, diluted (wtd. avg.) | $2.3M | $1.2M | $22.4M | $12.1M | $6.8M | — | — | $16.6M | $13.3M | $9.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.9M | $13.1M | $9.2M | $3.8M | $9.1M | $1.5M | $3.1M | $6.6M | $4.3M | $392.0K |
| Receivables | — | — | $142.0K | — | — | — | — | — | — | — |
| Total current assets | $7.5M | $13.5M | $9.7M | $4.0M | $9.4M | $1.6M | $3.2M | $6.6M | $4.3M | $392.3K |
| Property, plant and equipment | $6.9M | $4.5M | $3.0M | $1.7M | $236.0K | $299.0K | $301.3K | $75.9K | $13.3K | $0 |
| Other intangibles | — | — | — | — | — | — | $0 | $180 | $213 | $0 |
| Total assets | $14.8M | $18.7M | $13.8M | $7.2M | $9.8M | $2.2M | $3.9M | $6.7M | $4.3M | $392.3K |
| Accounts payable | $992.0K | $338.0K | $802.0K | $285.0K | $300.0K | $169.3K | $367.0K | $138.3K | $15.0K | $8.4K |
| Total current liabilities | $1.9M | $1.3M | $1.5M | $979.0K | $969.7K | $3.3M | $661.4K | $178.9K | $15.5K | $29.7K |
| Total liabilities | $1.9M | $1.7M | $2.3M | $2.2M | $1.0M | $3.5M | $980.1K | $178.7K | $15.5K | $29.7K |
| Retained earnings | -$113.0M | -$84.8M | -$65.9M | -$48.5M | -$34.6M | -$15.9M | -$8.6M | -$3.2M | -$708.7K | -$49.4K |
| Total equity | $13.0M | $17.1M | $11.5M | $5.1M | $8.8M | -$1.3M | $2.9M | $6.5M | $4.3M | $362.6K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$23.8M | -$15.7M | -$14.0M | -$11.0M | -$10.3M | -$5.9M | -$4.1M | -$1.8M | -$791.1K | -$21.1K |
| Depreciation and amortisation | — | — | — | — | — | — | — | $14.5K | $1.9K | $0 |
| Stock-based compensation | $1.8M | $2.4M | $2.7M | $2.7M | $4.0M | $1.2M | $801.2K | $532.1K | $0 | — |
| Capital expenditure | $3.9M | $2.5M | $1.7M | $1.6M | $54.8K | $109.7K | $260.8K | $77.1K | $15.1K | $0 |
| Investing cash flow | -$3.9M | -$2.5M | -$1.7M | -$1.6M | -$54.8K | -$109.7K | -$260.8K | -$77.1K | -$15.3K | $0 |
| Financing cash flow | $21.5M | $22.1M | $21.1M | $7.4M | $17.9M | $4.4M | $924.0K | $4.1M | $4.7M | $23.5K |
| Buybacks | — | — | — | — | — | — | — | — | $0 | $188.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-073223.
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