Modular Medical, Inc. (MODD) Form 10-Q — Aug 14, 2026
Modular Medical filed its fiscal 2027 first-quarter 10-Q with substantial doubt about its ability to continue as a going concern. The company held $3.9 million in cash at June 30, 2026 after using roughly $6.0 million of cash in operations during the quarter, and management states cash is not sufficient to fund operations for the next 12 months even after a $5.1 million post-quarter ATM raise. Quarterly results were roughly flat year over year: net loss was $6.5 million versus $6.7 million a year earlier, with per-share loss of $1.19 against $3.70 reflecting a much larger share count following the 1-for-30 reverse split effective March 31, 2026.
Key figures
- Total Assets
- 12253000
- Cash Position
- 3920000
- Shares Outstanding
- 8150823
- Rd Expense
- 4371000
- Sga Expense
- 2167000
- Rd Headcount
- 42 at June 30, 2026 vs 54 a year earlier
- Atm Q1 Net Proceeds
- 700000
- Fiscal2026 Net Loss
- approximately $28.2 million (year ended March 31, 2026)
- Operating Cash Used
- 5972000
- Reverse Split Ratio
- 1-for-30 (effective March 31, 2026)
- Accumulated Deficit
- 119481000
- Atm Program Capacity
- 100000000
- Warrants Outstanding
- 3229000
- Prior Year Quarter Net Loss
- 6702000
- Weighted Average Shares Q1
- 5452000
- Subsequent Atm Net Proceeds
- 5113542
- Subsequent Atm Shares Issued
- 2530250
- April Registered Direct Net Proceeds
- 2964000
Price after filing
Close on the filing date to close N calendar days later (from $2.49). Historical, not a forecast.
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.