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,
Last close
1.75
2026-10-23
Market cap
$14.3M
2026-06-30 share count
52-week range
1.72 - 18.67
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-12.36
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.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | — | — | — | — | — | — | — | — |
| Gross profit | $0 | — | — | — | — | — | — | — | — | — |
| Net income | -$29.3K | -$659.2K | -$2.5M | -$5.3M | -$7.4M | -$18.6M | -$13.9M | -$17.5M | -$18.8M | -$28.2M |
Recent filings and events
- Director nominations Dates and mechanics for shareholders proposing directors. Item 5.08
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Other event Item 8.01
- Other event Item 8.01
- Material agreement signed Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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