Modular Med Inc Financials

MODD

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE March

Financial Health Signals

Piotroski F-Score Weak

3/9

Modular Med Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.84x

For every $1 of reported earnings, Modular Med Inc generates $0.84 in operating cash flow (-$15.7M OCF vs -$18.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Modular Med Inc (MODD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 25 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$18.0M

YoY-5.2%

Modular Med Inc's EBITDA was -$18.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 5.2% from the prior year.

Free Cash Flow

-$18.2M

YoY-16.4%

Modular Med Inc generated -$18.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 16.4% from the prior year.

Net Income

-$18.8M

YoY-7.8%

Modular Med Inc reported -$18.8M in net income in fiscal year 2025. This represents a decrease of 7.8% from the prior year.

EPS (Diluted)

$-0.51

YoY+34.6%

Modular Med Inc earned $-0.51 per diluted share (EPS) in fiscal year 2025. This represents an increase of 34.6% from the prior year.

Cash & Debt

$13.1M

YoY+41.8%

5Y CAGR+33.2%

Modular Med Inc held $13.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

54M

YoY+65.4%

5Y CAGR+24.6%

Modular Med Inc had 54M shares outstanding in fiscal year 2025. This represents an increase of 65.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$14.7M

YoY+14.1%

5Y CAGR+37.1%

Modular Med Inc invested $14.7M in research and development in fiscal year 2025. This represents an increase of 14.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$2.5M

YoY+46.6%

5Y CAGR+57.1%

Modular Med Inc invested $2.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 46.6% from the prior year.

MODD Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$14.7M+14.1%	$12.9M+42.1%	$9.1M+17.2%	$7.7M+89.3%	$4.1M+34.6%	$3.0M
SG&A Expenses	$4.4M-6.4%	$4.6M-3.5%	$4.8M-33.1%	$7.2M+121.2%	$3.3M+40.6%	$2.3M
Operating Income	-$19.0M-8.7%	-$17.5M-26.3%	-$13.9M+7.0%	-$14.9M-103.4%	-$7.3M-37.2%	-$5.3M
Interest Expense	N/A	N/A	N/A	$2.8M+6816.7%	$40K	$0
Income Tax	$2K0.0%	$2K0.0%	$2K+25.0%	$2K0.0%	$2K0.0%	$2K
Net Income	-$18.8M-7.8%	-$17.5M-25.9%	-$13.9M+25.5%	-$18.6M-152.5%	-$7.4M-38.7%	-$5.3M
EPS (Diluted)	$-0.51+34.6%	$-0.78+32.2%	$-1.15+58.0%	$-2.74	N/A	N/A

Metric	Q2'25	Q3'24	Q2'24	Q1'24	Q3'23	Q1'23	Q3'22	Q1'22
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$5.6M+45.2%	$3.9M+4.1%	$3.7M	N/A	$3.8M	N/A	$2.2M	N/A
SG&A Expenses	$2.2M+123.4%	$1.0M-22.6%	$1.3M	N/A	$1.4M	N/A	$1.2M	N/A
Operating Income	-$7.8M-61.3%	-$4.9M+2.8%	-$5.0M	N/A	-$5.3M	N/A	-$3.4M	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	-$587	N/A
Income Tax	$2K	N/A	$2K	N/A	$2K	N/A	$2K	N/A
Net Income	-$7.8M-62.2%	-$4.8M+3.1%	-$5.0M	N/A	-$5.3M	N/A	-$3.4M	N/A
EPS (Diluted)	$-0.14-7.7%	$-0.13+7.1%	$-0.14	N/A	$-0.23	N/A	$-0.27	N/A

MODD Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$18.7M+35.7%	$13.8M+90.6%	$7.2M-26.4%	$9.8M+338.0%	$2.2M-41.7%	$3.9M
Current Assets	$13.5M+39.4%	$9.7M+139.7%	$4.0M-56.9%	$9.4M+469.4%	$1.6M-48.2%	$3.2M
Cash & Equivalents	$13.1M+41.8%	$9.2M+143.0%	$3.8M-58.1%	$9.1M+518.1%	$1.5M-53.0%	$3.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.7M-27.0%	$2.3M+4.7%	$2.2M+114.8%	$1.0M-71.3%	$3.5M+259.5%	$980K
Current Liabilities	$1.3M-13.1%	$1.5M+48.6%	$979K+1.0%	$970K-70.6%	$3.3M+398.5%	$661K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$17.1M+48.0%	$11.5M+127.2%	$5.1M-42.6%	$8.8M+793.0%	-$1.3M-144.3%	$2.9M
Retained Earnings	-$84.8M-28.6%	-$65.9M-36.1%	-$48.5M-40.1%	-$34.6M-116.8%	-$15.9M-86.1%	-$8.6M

Metric	Q2'25	Q3'24	Q2'24	Q1'24	Q3'23	Q1'23	Q3'22	Q1'22
Total Assets	$13.0M+6.8%	$12.1M+38.5%	$8.8M-36.5%	$13.8M+122.7%	$6.2M-14.4%	$7.2M-17.1%	$8.7M-11.2%	$9.8M
Current Assets	$5.9M-18.9%	$7.3M+75.6%	$4.2M-56.9%	$9.7M+314.0%	$2.3M-42.1%	$4.0M-49.2%	$8.0M-15.1%	$9.4M
Cash & Equivalents	$5.3M-23.9%	$7.0M+79.5%	$3.9M-57.8%	$9.2M+351.0%	$2.0M-46.1%	$3.8M-50.6%	$7.7M-15.3%	$9.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.2M+122.8%	$1.9M+1.7%	$1.9M-18.4%	$2.3M-3.5%	$2.4M+8.5%	$2.2M+203.2%	$715K-29.2%	$1.0M
Current Liabilities	$4.0M+192.4%	$1.4M+11.2%	$1.2M-14.5%	$1.5M+1.1%	$1.4M+47.0%	$979K+36.9%	$715K-26.2%	$970K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.8M-14.5%	$10.3M+48.4%	$6.9M-40.0%	$11.5M+200.0%	$3.8M-24.3%	$5.1M-36.7%	$8.0M-9.2%	$8.8M
Retained Earnings	-$99.2M-24.3%	-$79.8M-6.4%	-$75.0M-13.8%	-$65.9M-6.9%	-$61.6M-27.2%	-$48.5M-8.0%	-$44.9M-29.8%	-$34.6M

MODD Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$15.7M-12.7%	-$14.0M-26.7%	-$11.0M-7.3%	-$10.3M-73.6%	-$5.9M-44.3%	-$4.1M
Capital Expenditures	$2.5M+46.6%	$1.7M+3.8%	$1.6M+2891.0%	$55K-50.1%	$110K-57.9%	$261K
Free Cash Flow	-$18.2M-16.4%	-$15.7M-23.7%	-$12.6M-22.6%	-$10.3M-71.4%	-$6.0M-38.2%	-$4.4M
Investing Cash Flow	-$2.5M-46.6%	-$1.7M-3.8%	-$1.6M-2891.0%	-$55K+50.1%	-$110K+57.9%	-$261K
Financing Cash Flow	$22.1M+4.7%	$21.1M+186.0%	$7.4M-58.9%	$17.9M+310.6%	$4.4M+372.4%	$924K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q3'24	Q2'24	Q1'24	Q3'23	Q1'23	Q3'22	Q1'22
Operating Cash Flow	-$5.4M-32.1%	-$4.1M-8.8%	-$3.8M-7.5%	-$3.5M+11.7%	-$4.0M-40.3%	-$2.8M-6.4%	-$2.7M+15.1%	-$3.1M
Capital Expenditures	$771K+42.3%	$542K+236.6%	$161K-66.7%	$483K-3.2%	$499K-53.1%	$1.1M+116.5%	$492K+1438.2%	$32K
Free Cash Flow	-$6.2M-33.3%	-$4.6M-18.1%	-$3.9M+1.5%	-$4.0M+10.7%	-$4.5M-14.7%	-$3.9M-23.6%	-$3.1M+0.4%	-$3.2M
Investing Cash Flow	-$771K-42.3%	-$542K-236.6%	-$161K+66.7%	-$483K+3.2%	-$499K+53.1%	-$1.1M-116.5%	-$492K-1438.2%	-$32K
Financing Cash Flow	$4.0M-48.6%	$7.7M+179.3%	$2.8M-75.2%	$11.2M+6071.8%	$181K	$0	$0-100.0%	$12.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MODD Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-100.5%+26.1pp	-126.5%+65.0pp	-191.6%-2.3pp	-189.2%+138.9pp	-328.2%-190.3pp	-137.9%
Current Ratio	10.69+4.0	6.66+2.5	4.13-5.6	9.68+9.2	0.50-4.3	4.82
Debt-to-Equity	0.10-0.1	0.20-0.2	0.43+0.3	0.11+2.9	-2.76-3.1	0.34
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q3'24	Q2'24	Q1'24	Q3'23	Q1'23	Q3'22	Q1'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-60.0%-20.5pp	-39.5%+17.0pp	-56.5%	N/A	-85.0%	N/A	-38.4%	N/A
Current Ratio	1.47-3.8	5.30+1.9	3.36-3.3	6.66+5.0	1.63-2.5	4.13-7.0	11.14+1.5	9.68
Debt-to-Equity	0.48+0.3	0.18-0.1	0.27+0.1	0.20-0.4	0.61+0.2	0.43+0.3	0.09-0.0	0.11
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Modular Med Inc profitable?

No, Modular Med Inc (MODD) reported a net income of -$18.8M in fiscal year 2025.

What is Modular Med Inc's earnings per share (EPS)?

Modular Med Inc (MODD) reported diluted earnings per share of $-0.51 for fiscal year 2025. This represents a 34.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Modular Med Inc's EBITDA?

Modular Med Inc (MODD) had EBITDA of -$18.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Modular Med Inc's free cash flow?

Modular Med Inc (MODD) generated -$18.2M in free cash flow during fiscal year 2025. This represents a -16.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Modular Med Inc's operating cash flow?

Modular Med Inc (MODD) generated -$15.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Modular Med Inc's total assets?

Modular Med Inc (MODD) had $18.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Modular Med Inc's capital expenditures?

Modular Med Inc (MODD) invested $2.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Modular Med Inc spend on research and development?

Modular Med Inc (MODD) invested $14.7M in research and development during fiscal year 2025.

How many shares does Modular Med Inc have outstanding?

Modular Med Inc (MODD) had 54M shares outstanding as of fiscal year 2025.

What is Modular Med Inc's current ratio?

Modular Med Inc (MODD) had a current ratio of 10.69 as of fiscal year 2025, which is generally considered healthy.

What is Modular Med Inc's debt-to-equity ratio?

Modular Med Inc (MODD) had a debt-to-equity ratio of 0.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Modular Med Inc's return on assets (ROA)?

Modular Med Inc (MODD) had a return on assets of -100.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Modular Med Inc's cash runway?

Based on fiscal year 2025 data, Modular Med Inc (MODD) had $13.1M in cash against an annual operating cash burn of $15.7M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Modular Med Inc's Piotroski F-Score?

Modular Med Inc (MODD) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Modular Med Inc's earnings high quality?

Modular Med Inc (MODD) has an earnings quality ratio of 0.84x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.