Modular Medical (MODD) Q4 2026 earnings summary

Executive summary

• Commercial-stage medical device company focused on innovative insulin pumps, targeting both type 1 and type 2 diabetes markets with a simplified, cost-effective patch pump solution.

• Achieved FDA clearance for the MODD1 and next-generation Pivot pumps; Pivot launched commercially in June 2026 in the US.

• Pivot pump designed for ease of use, affordability, and mass market adoption, aiming to convert 'Almost Pumpers' from multiple daily injections.

• Company is expanding commercial activities, seeking CE mark for European entry by Q2 2027.

Financial highlights

• Net loss for fiscal year ended March 31, 2026: $28.2 million, compared to $18.8 million in the prior year.

• Operating expenses increased to $27.6 million from $19.0 million year-over-year, driven by higher R&D and G&A costs.

• Cash and cash equivalents at March 31, 2026: $6.9 million; accumulated deficit: $113.0 million.

• Raised $12.0 million in a March 2026 public offering and $3.0 million in April 2026; additional $21.5 million provided by financing activities in fiscal 2026.

• No product revenue recognized as of March 31, 2026; initial shipments of Pivot began in June 2026.

Outlook and guidance

• Substantial doubt exists about ability to continue as a going concern without additional capital; further fundraising required to support operations and commercialization.

• R&D and G&A expenses expected to increase in fiscal 2027 as commercialization and product development ramp up.

• Plans to expand US commercial footprint and obtain European regulatory clearance for Pivot.