Modular Medical, Inc. reported a net loss of $28.2M for fiscal 2026 versus a net loss of $18.8M in fiscal 2025, with basic and diluted net loss per share of $(12.36) in 2026 compared with $(15.26) in 2025.
Financial Highlights
- Net income: Net loss of $28.2M for fiscal 2026, compared with net loss of $18.8M for fiscal 2025.
- Diluted EPS: Basic and diluted net loss per share of $(12.36) for fiscal 2026, vs. $(15.26) for fiscal 2025.
- Commentary: No revenue reported; losses widened year‑over‑year driven by higher R&D ($20.0M) and G&A ($7.6M) expenses, and a change in fair value of warrant liabilities (-$0.8M).
Business Highlights
- Product approvals and commercial activity: Received FDA clearance for MODD1 in September 2024 and for Pivot on April 9, 2026; Pivot became commercially available in June 2026 and initial shipments have begun.
- Commercial scaling: Company is focusing initial market expansion on metropolitan areas while pursuing foreign regulatory clearances and building limited sales and marketing capabilities.
- R&D and operations: R&D expenses rose 35.9% year‑over‑year to $19.97M as the company increased hires, invested in manufacturing optimization and capital expenditures to scale production.
- Liquidity risk: Management flagged cash constraints and going‑concern risk that could force curtailing R&D or slowing commercialization absent additional capital.
Original SEC Filing:
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