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MODD on Nasdaq

Modular Medical, Inc.

Modular Medical, Inc. is an American surgical and medical instruments and apparatus company.1 It is headquartered in San Diego, California.1 Its shares trade on Nasdaq under the symbol MODD.1

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Last updated Oct 21, 2026.

Overview

-$28.2MNet income, fiscal 20262

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  • TickerMODD on Nasdaq1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersSan Diego, California1
  • Incorporated inNV3
  • Business address10740 Thornmint Road, San Diego, Ca 921273
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation

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Medisize, our manufacturing partner, performs all manufacturing operations to ensure compliance with FDA regulations.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

-217.9%Return on equity2
-$27.7MFree cash flow2

Financial statements

Operating income56789102-$27.6M in 2026+969% since 2019
-$30.0M-$20.0M-$10.0M02019: -$2.6M-$2.6M20192020: -$5.3M-$5.3M2020+108%2021: -$7.3M-$7.3M2021+37%2022: -$14.9M-$14.9M2022+103%2023: -$13.9M-$13.9M2023−7%2024: -$17.5M-$17.5M2024+26%2025: -$19.0M-$19.0M2025+9%2026: -$27.6M-$27.6M2026+45%
Net income56789102-$28.2M in 2026+1012% since 2019
-$30.0M-$20.0M-$10.0M02019: -$2.5M-$2.5M20192020: -$5.3M-$5.3M2020+110%2021: -$7.4M-$7.4M2021+39%2022: -$18.6M-$18.6M2022+153%2023: -$13.9M-$13.9M2023−26%2024: -$17.5M-$17.5M2024+26%2025: -$18.8M-$18.8M2025+8%2026: -$28.2M-$28.2M2026+50%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2026-03-312025-03-31
Research and development$20.0M$14.7M
General and administrative$7.6M$4.4M
Total operating expenses$27.6M$19.0M
Loss from operations-$27.6M-$19.0M
Other income$155.0K$226.0K
Change in fair value of warrant liabilities-$835.0K
Loss before income taxes-$28.2M-$18.8M
Provision for income taxes$2.0K$2.0K
Net loss-$28.2M-$18.8M
Basic (in Dollars per share)-$12.36-$15.26
Diluted (in Dollars per share)-$12.36-$15.26
Basic (in Shares)2.3M shares1.2M shares
Diluted (in Shares)2.3M shares1.2M shares

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Corporate structure

Modular Medical, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Modular Medical, Inc.

  • Modular Medical, Inc. San Diego, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Modular Medical, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$10.1M2 Mar 31, 2026$6.1M2 Mar 31, 2025+64.4%
Accumulated depreciation$3.2M2 Mar 31, 2026$1.7M2 Mar 31, 2025+91.3%
Property and equipment, net$6.9M2 Mar 31, 2026$4.5M2 Mar 31, 2025+54.2%
Operating-lease assets (leased space)$363.0K2 Mar 31, 2026$765.0K2 Mar 31, 2025−52.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$6.9M2 Mar 31, 2026$13.1M2 Mar 31, 2025−47.0%

Properties, in its own words

Our principal administrative, operations, and research and development functions are located in a leased facility in San Diego, California. We currently occupy approximately 24,000 square feet of space in the San Diego facility, and the lease extends through January 2027. Under the lease, in addition to the minimum lease payments, we are responsible for property taxes, insurance and certain other operating costs. We believe that our existing facility is adequate to meet our current needs.

Item 2 of the 10-K filed Jun 29, 2026.4

Leadership

Who has led Modular Medical, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ellen O'Connor Vos2021
  2. James E. Besser2023–now

Chief operating officer

  1. Kevin Schmid2022–now
20202025
Board members and other officers (12)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorCarmen C. Volkart named Apr 7, 202527

Former names

  • BEAR LAKE RECREATION INCMar 8, 2002 to May 25, 20173

Timeline

  1. Sep 29, 20268-K Executive or director change28
  2. Sep 3, 20268-K Director nominations29
  3. May 20, 20268-K Executive or director change30
  4. Apr 21, 20268-K Entered a material agreement; Other events31
  5. Apr 16, 20268-K Other events32
  6. Mar 31, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed; Other events33
  7. Mar 13, 20268-K Other events34
  8. Mar 6, 20268-K Entered a material agreement; Regulation FD disclosure35
  9. Feb 24, 20268-K Entered a material agreement; New debt or obligation36
  10. Jan 23, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed; Shareholder vote37
  11. Dec 31, 20258-K Listing notice or transfer; Regulation FD disclosure38
  12. Dec 11, 20258-K Entered a material agreement; Other events39
  13. Oct 4, 2023New chief executive James E. Besser becomes CEO14
  14. Aug 16, 2021New chief executive Ellen O'Connor Vos becomes CEO15

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/202640

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

381 filings to the SEC since October 2021: 5 annual reports, 17 quarterly reports, 43 major events, 186 insider forms, 32 large holders, 1 private raises, 97 other. The latest 20:

  1. Oct 1, 20264 EDGAR
  2. Oct 1, 20264 EDGAR
  3. Oct 1, 20264 EDGAR
  4. Oct 1, 20264 EDGAR
  5. Oct 1, 20264 EDGAR
  6. Oct 1, 20264 EDGAR
  7. Oct 1, 2026ARS EDGAR
  8. Oct 1, 2026DEF 14A PROXY STATEMENT EDGAR
  9. Oct 1, 20264 EDGAR
  10. Sep 29, 20268-K CURRENT REPORT EDGAR
  11. Sep 3, 20268-K CURRENT REPORT EDGAR
  12. Aug 18, 2026EFFECT EDGAR
  13. Aug 14, 2026SCHEDULE 13G/A EDGAR
  14. Aug 14, 202610-Q QUARTERLY REPORT EDGAR
  15. Aug 13, 2026SCHEDULE 13G EDGAR
  16. Aug 7, 2026SCHEDULE 13G EDGAR
  17. Aug 5, 2026S-3 REGISTRATION STATEMENT EDGAR
  18. Jul 2, 20264 EDGAR
  19. Jul 2, 20264 EDGAR
  20. Jul 2, 20264 EDGAR

The 381 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

18 open-market trades by officers, directors and large owners since October 2021: 18 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 20, 2025MANCHESTER MANAGEMENT PR, LLCBuy677,082$1.92$1.3MForm 4
Dec 3, 2024MANCHESTER MANAGEMENT PR, LLCBuy21,000$1.68$35.3KForm 4
Nov 27, 2024JEB Partners, L.P.Buy100,000$1.69$169.0KForm 4
Nov 21, 2024MANCHESTER MANAGEMENT CO LLCChief Executive OfficerBuy166,666$1.50$250.0KForm 4
Aug 19, 2024Sheibley Philip BrentDirectorBuy15,000$1.69$25.4KForm 4
Feb 16, 2024MANCHESTER MANAGEMENT PR, LLCBuy900,000$1.10$990.0KForm 4
Feb 16, 2024Manchester Explorer, L.P.Buy900,000$1.10$990.0KForm 4
Nov 1, 2023Sheibley Philip BrentDirectorBuy10,000$1.29$12.9KForm 4
Oct 16, 2023JEB Partners, L.P.Buy33,000$1.08$35.5KForm 4
Sep 12, 2023Sheibley Philip BrentDirectorBuy10,000$1.15$11.5KForm 4
Aug 31, 2023FRANK MORGAN C.DirectorBuy103,459$1.08$111.7KForm 4
Aug 30, 2023FRANK MORGAN C.DirectorBuy42,490$1.04$44.2KForm 4
May 18, 2023FELSHER STEVEN GDirectorBuy117,300Form 4
Jul 26, 2022Sheibley Philip BrentDirectorBuy2,000$4.12$8.2KForm 4
Mar 15, 2022DiPerna PaulSee RemarksBuy10,000$4.00$40.0KForm 4
Feb 10, 2022Manchester Explorer, L.P.Buy300,000$6.00$1.8MForm 4
Oct 28, 2021DiPerna PaulSee RemarksBuy37,037$2.70$100.0KForm 4
Oct 28, 2021Vos Ellen O'ConnorDirectorBuy55,555$2.70$150.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2026Paul DiPerna,68$360.0K$662.9K51
2026Kevin Schmid,$300.0K$375.7K51
2026James E. Besser,$47.0K51
2025PresidentChief Financial Officer and Treasurer$360.0K$575.8K51
2025Chief Operating Officer$300.0K$401.0K51

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 20, 2025Raised $12 million in a private offering of equity Form D: $20 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
AWM Investment Company, Inc.441,095$2.0M0.2%+74,429
Solas Capital Management, LLC438,095$2.0M1.1%+150,000
Bleichroeder LP336,986$1.5M0.3%+150,000
683 Capital Management, LLC130,000$585.0K0.1%+4,999
Vanguard Capital Management LLC103,182$464.3K0.0%+47,265
Bard Associates Inc101,744$457.8K0.1%+2,254
Northern Trust Corp62,331$280.5K0.0%New
Geode Capital Management, LLC52,645$236.9K0.0%+25,158
Sio Capital Management, LLC26,190$117.9K0.0%No change
HighTower Advisors, LLC19,825$89.2K0.0%New
Vanguard Fiduciary Trust Co19,269$86.7K0.0%+10,659
Morgan Stanley9,764$43.9K0.0%+7,899
UBS Group AG4,696$21.1K0.0%+4,073
BlackRock, Inc.2,467$11.1K0.0%−6,916
Northwestern Mutual Wealth Management Co717$3.2K0.0%+17
Vanguard Global Advisers, LLC500$2.2K0.0%No change
Royal Bank Of Canada367$2.0K0.0%New
Barclays PLC353$1.6K0.0%New
Osaic Holdings, Inc.266$1.2K0.0%No change
NFSG Corp150$6750.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Modular Medical, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARModular Medical, Inc.1
  • CIK0001074871
  • Employer ID (EIN)87-06204954
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inNevada4
  • Fiscal year endsMarch 311
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address10740 Thornmint Road, San Diego, CA 921271
  • Phone858-800-35001
  • Shares outstanding8,150,823 as of Aug 14, 202613
  • Public float$37.5M as of Sep 30, 20254
  • AuditorFarber Hass Hurley LLP, Chatsworth, California PCAOB ID 223; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMar 8, 20021
  • Filings626 in all: 4 (234), 8-K (67), 10-Q (55), CORRESP (35), 10-K (19), 10QSB (18), 3 (17), EFFECT (16)1
    All 47 form types

    UPLOAD (15), S-1/A (11), SCHEDULE 13G/A (11), 424B5 (10), SC 13D/A (9), SCHEDULE 13G (8), S-1 (7), SC 13D (7), 10KSB (6), 4/A (6), 424B1 (5), DEF 14A (5), S-3 (5), 10-K/A (4), 10-Q/A (4), D (4), POS AM (4), SC 13G (4), 424B4 (3), 8-K/A (3), ARS (3), DEF 14C (3), NT 10-Q (3), 424B3 (2), 5 (2), NT 10-K (2), PRE 14A (2), PRE 14C (2), S-3/A (2), S-8 (2), SC 13G/A (2), SCHEDULE 13D/A (2), 10KSB/A (1), 10SB12G (1), 8-A12B (1), CERT (1), DRS (1), RW (1), SC 14F1 (1)

  • Latest filingsAnnual report (10-K) Jun 29, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Oct 1, 2026
    Latest 8-K (8-K) Sep 29, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareMODDThe Nasdaq Stock Market, LLC

From the cover page of the 10-K filed Jun 29, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Modular Medical, Inc. names in Item 1A of its 10-K filed Jun 29, 2026: 4 risks under these headings, as written.4

  • We are an early commercial-stage medical device company and have a history of significant operating losses; we expect to continue to incur operating losses, and we may never achieve or maintain profitability.
  • We have a limited operating history upon which to evaluate our business and forecast our future sales and operating results and may face difficulties frequently encountered by companies in competitive and rapidly-evolving markets.
  • We have a limited commercial history and limited experience marketing and selling our products. We only recently launched our commercial product, which may make it difficult to evaluate the prospects for our future viability and predict our future performance.
  • If we fail to establish and maintain an effective system of internal controls, we may not be able to report our financial results accurately or prevent fraud. Any inability to report and file our financial results accurately and timely could harm our reputation and adversely affect the trading price of our common stock.

Legal proceedings

We are not a party to any material legal proceeding that we believe is likely to have a material adverse effect on our consolidated financial position or results of operations. From time to time, we may be subject to legal proceedings and claims in the ordinary course of business. These claims, even if not meritorious, could result in the expenditure of significant financial resources and diversion of management efforts. To the knowledge of our management, we are not a party to any pending legal proceeding. To the knowledge of our management, no federal, state or local governmental agency is presently contemplating any proceeding against us. No director, executive officer or affiliate of ours or owner of record or beneficially of more than five percent of our common stock is a party adverse to us or has a material interest adverse to us in any proceeding.

The opening of Item 3, Legal Proceedings.4

Sources

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