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Modular Medical, Inc.
MODDCIK 0001074871NasdaqNon-AcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusNevadaFY ends Mar 31
Period
FY 2026
Revenue
—
Net Income
$-28.24M
Total Assets
$14.83M
Equity
$12.96M
Shares Out
5.41B
Op. Cash Flow
$-23.75M
Business
Modular Medical designs and commercializes insulin pumps using modernized technology to expand adoption beyond highly motivated users. The company's Pivot pump is a tubeless, two-part patch delivery system with a reusable pump and disposable cartridge, designed for simplicity and affordability. Pivot received FDA clearance in April 2026 and commenced U.S. shipments in June 2026. The company targets Type 1 and Type 2 insulin-requiring diabetes patients, particularly those resistant to existing complex and costly pump offerings.
Summary from 10-K filed 2026-06-29
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2026 2026-03-31 | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Research and development | 20 | 15 | 13 | 9 | 8 | |
| General and administrative | 8 | 4 | 5 | 5 | 7 | |
| Total operating expenses | 28 | 19 | 18 | 14 | 15 | |
| Loss from operations | −28 | −19 | −18 | −14 | −15 | |
| Other income | 155,000 | 226,000 | 61,000 | 1,000 | 368,920 | |
| Change in fair value of warrant liabilities | −835,000 | — | — | — | — | |
| Loss before income taxes | −28 | −19 | −17 | −14 | −19 | |
| Provision for income taxes | 2,000 | 2,000 | 2,000 | 2,000 | 1,600 | |
| Net loss | −28 | −19 | −17 | −14 | −19 | |
| Basic (in Dollars per share) | −12.36 | −15.26 | −0.78 | −1.15 | −2.74 | |
| Diluted (in Dollars per share) | −12.36 | −15.26 | −0.78 | −1.15 | −2.74 | |
| Basic (in Shares) | 2 | 1 | 22 | 12 | 7 | |
| Diluted (in Shares) | 2 | 1 | 22 | 12 | 7 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2026 2026-03-31 | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 7 | 13 | 9 | 4 | 9 | |
| Prepaid expenses and other | 600,000 | 422,000 | 465,000 | 147,000 | 313,422 | |
| TOTAL CURRENT ASSETS | 8 | 14 | 10 | 4 | 9 | |
| Property and equipment, net | 7 | 4 | 3 | 2 | 235,959 | |
| Right of use assets, net | 363,000 | 765,000 | 1 | 1 | 120,693 | |
| Other Assets, Noncurrent | 61,000 | — | — | — | — | |
| TOTAL ASSETS | 15 | 19 | 14 | 7 | 10 | |
| Accounts payable | 992,000 | 338,000 | 802,000 | 285,000 | 299,951 | |
| Accrued expenses | 488,000 | 504,000 | 280,000 | 339,000 | 524,891 | |
| Short-term lease liabilities | 393,000 | 423,000 | 373,000 | 355,000 | 144,857 | |
| TOTAL CURRENT LIABILITIES | 2 | 1 | 1 | 979,000 | 969,699 | |
| Long-term lease liabilities | — | 393,000 | 817,000 | 1 | 39,957 | |
| TOTAL LIABILITIES | 2 | 2 | 2 | 2 | 1 | |
| Commitments and Contingencies (Note 8) | — | — | — | — | — | |
| Preferred Stock, $0.001 par value, 5,000 shares authorized, none issued and outstanding | — | — | — | — | — | |
| Common Stock, $0.001 par value, 250,000 and 100,000 shares authorized as of March 31, 2026 and 2025, respectively; 4,661 and 1,790 shares issued and outstanding as of March 31, 2026 and 2025, respectively | 5,000 | 2,000 | 32,000 | 11,000 | 10,462 | |
| Additional paid-in capital | 126 | 102 | 77 | 54 | 43 | |
| Accumulated deficit | −113 | −85 | −66 | −48 | −35 | |
| TOTAL STOCKHOLDERS EQUITY | 13 | 17 | 12 | 5 | 9 | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | 15 | 19 | 14 | 7 | 10 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2026 2026-03-31 | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation expense | 2 | 2 | 3 | 3 | 4 | |
| Depreciation and amortization | 2 | 1 | 426,000 | 152,000 | 117,490 | |
| Shares issued for services | 11,000 | 51,000 | 19,000 | 203,000 | 395,950 | |
| Other | — | 1,000 | — | — | 274 | |
| Prepaid expenses and other assets | −238,000 | −100,000 | −94,000 | −14,000 | 65,652 | |
| Lease right-of-use assets | 402,000 | 370,000 | 342,000 | 203,000 | — | |
| Accounts payable and accrued expenses | 453,000 | −288,000 | 458,000 | −200,000 | 354,948 | |
| Lease liabilities | −423,000 | −374,000 | −355,000 | −200,000 | — | |
| Net cash used in operating activities | −24 | −16 | −14 | −11 | −10 | |
| Purchases of property and equipment | −4 | −2 | −2 | −2 | −54,764 | |
| Net cash used in investing activities | −4 | −2 | −2 | −2 | −54,764 | |
| Proceeds from issuance of promissory note | 250,000 | — | — | — | — | |
| Repayment of promissory note | −250,000 | — | — | — | — | |
| Proceeds from at-the-market sales of common stock, net | 2 | 2 | — | — | — | |
| Proceeds from exercise of common stock warrants | 5,000 | 1 | 742,000 | — | — | |
| Proceeds from offerings of common stock and warrants, net | 16 | 7 | 278,000 | — | — | |
| Proceeds from private placement of common stock and warrants, net | — | 11 | 20 | — | — | |
| Proceeds from warrant inducement offering, net | 4 | — | — | — | — | |
| Net cash provided by financing activities | 22 | 22 | 21 | 7 | 18 | |
| Net increase in cash and cash equivalents | −6 | 4 | 5 | −5 | — | |
| Initial recognition of warrant liabilities | 2 | — | — | — | — | |
| Income taxes | 2,000 | 2,000 | 2,000 | 2,000 | 1,600 | |
| Interest | 30,000 | — | — | — | 262,000 |
Filings
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Frequently asked questions
What is Modular Medical, Inc.'s CIK number?
Modular Medical, Inc.'s SEC CIK number is 0001074871 (1074871). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Modular Medical, Inc.'s SEC filings?
All of Modular Medical, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.