---
title: "Modular Medical FY 2026: Net loss $28.2M, EPS $(12.36) — 10-K Summary"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291192225.md"
description: "Modular Medical reported a fiscal 2026 net loss of $28.2M, widening from $18.8M in 2025, with EPS at $(12.36). The company had no revenue, as losses increased due to higher R&D and G&A expenses. Despite FDA clearances for MODD1 and Pivot, management flagged significant liquidity risks and going-concern issues, warning that cash constraints may force curtailment of R&D or commercialization without additional capital."
datetime: "2026-06-29T21:25:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291192225.md)
  - [en](https://longbridge.com/en/news/291192225.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291192225.md)
---

# Modular Medical FY 2026: Net loss $28.2M, EPS $(12.36) — 10-K Summary

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: Modular Medical, Inc. \[ MODD \] - 10-K - Jun. 29, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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