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

Modular Med Inc (MODD) reported diluted earnings per share of -$12.36 for fiscal year 2026. 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.

Modular Med Inc Financials

MODD

FY2026 annual

Revenue Not reported for FY2026

Net Income -$28.2M -50.0% YoY

EPS (Diluted) -$12.36 YoY not available

Free Cash Flow -$27.7M -52.0% YoY

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE March

This page shows Modular Med Inc (MODD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI MODD FY2026 2026-08-14

With no reported revenue, the business is operating as a cash-funded R&D program sustained by outside capital.

From FY2024 to FY2026, R&D spending climbed from $12.9M to $20.0M, showing the cost base is being pushed up by development work rather than by serving a larger sales base. Over the same span, free cash outflow widened from $15.7M to $27.7M; that burn exceeded the entire year-end cash balance, so the company still depends on fresh financing to maintain this spending profile.

FY2026 net loss of $28.2M was close to operating cash use of $23.8M, which says the reported loss is translating into real cash consumption rather than being offset by favorable working-capital swings.

Even after several years of losses, liabilities remain light at $1.9M versus equity of $13.0M, so this is structurally more of an externally financed development vehicle than a lender-funded operating business.

Financial Health Signals

Financial health score not available

Modular Med Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

1/6

Modular Med Inc passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality No Cash Backing

N/A

Modular Med Inc reported a net loss of $28.2M while operations used $23.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

EBITDA

-$25.9M

YoY-43.9%

Modular Med Inc's EBITDA was -$25.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 43.9% from the prior year.

Net Income

-$28.2M

YoY-50.0%

Modular Med Inc reported -$28.2M in net income in fiscal year 2026. This represents a decrease of 50.0% from the prior year.

EPS (Diluted)

-$12.36

Modular Med Inc earned -$12.36 per diluted share (EPS) in fiscal year 2026.

Revenue

Not reported for fiscal year 2026.

Cash & Balance Sheet

Free Cash Flow

-$27.7M

YoY-52.0%

Modular Med Inc recorded an outflow of $27.7M in free cash flow in fiscal year 2026, representing a cash shortfall after capex. This represents a decrease of 52.0% from the prior year.

Cash & Debt

$6.9M

YoY-47.0%

5Y CAGR+36.4%

Modular Med Inc held $6.9M in cash as of fiscal year 2026; long-term debt is not reported for that period.

Shares Outstanding

Modular Med Inc had 5M shares outstanding in fiscal year 2026.

Dividends Per Share

Not reported for fiscal year 2026.

Margins & Returns

Return on Equity

-217.9%

YoY-107.7pp

Modular Med Inc's ROE was -217.9% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 107.7 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2026.

Operating Margin

Not reported for fiscal year 2026.

Net Margin

Not reported for fiscal year 2026.

Capital Allocation

R&D Spending

$20.0M

YoY+35.9%

5Y CAGR+37.4%

Modular Med Inc invested $20.0M in research and development in fiscal year 2026. This represents an increase of 35.9% from the prior year.

Capital Expenditures

$3.9M

YoY+57.7%

5Y CAGR+104.6%

Modular Med Inc invested $3.9M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 57.7% from the prior year.

Share Buybacks

Not reported for fiscal year 2026.

MODD Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MODD annual income statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY15	FY14	FY13	FY12	FY11
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0	$0	$0	$0	$0	$0
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0	$0	$0	$0	$0
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0	$0	$0	$0	$0
R&D Expenses	$20.0M+35.9%	$14.7M+14.1%	$12.9M+42.1%	$9.1M+17.2%	$7.7M+89.3%	$4.1M+34.6%	$3.0M+61.2%	$1.9M+465.9%	$333K	$0	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$7.6M+74.4%	$4.4M-6.4%	$4.6M-3.5%	$4.8M-33.1%	$7.2M+121.2%	$3.3M+40.6%	$2.3M+233.0%	$695K+604.1%	$99K+751.7%	$12K	N/A	$11K-1.4%	$11K+14.8%	$10K+3.7%	$9K
Operating Income	-$27.6M-44.7%	-$19.0M-8.7%	-$17.5M-26.3%	-$13.9M+7.0%	-$14.9M-103.4%	-$7.3M-37.2%	-$5.3M-107.5%	-$2.6M-286.9%	-$666K-2164.5%	-$29K	N/A	-$11K+1.4%	-$11K-14.8%	-$10K-3.7%	-$9K
Interest Expense	N/A	N/A	N/A	N/A	$2.8M+6816.7%	$40K	$0-100.0%	$39K+362.4%	$9K+785.4%	$962	N/A	N/A	N/A	N/A	N/A
Income Tax	$2K0.0%	$2K0.0%	$2K0.0%	$2K+25.0%	$2K0.0%	$2K0.0%	$2K+0.7%	$2K-0.7%	$2K+100.0%	$800	$0	$0	$0	$0	$0
Net Income	-$28.2M-50.0%	-$18.8M-7.8%	-$17.5M-25.9%	-$13.9M+25.5%	-$18.6M-152.5%	-$7.4M-38.7%	-$5.3M-109.5%	-$2.5M-285.2%	-$659K-2153.4%	-$29K	N/A	-$23K-9.6%	-$21K-18.9%	-$17K-90.7%	-$9K
EPS (Diluted)	-$12.36	-$15.26	-$0.78	-$1.15	-$2.74	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
R&D Expenses	N/A	$5.4M-3.4%	$5.6M+8.9%	$5.1M	N/A	$3.9M+4.1%	$3.7M+15.5%	$3.2M
SG&A Expenses	N/A	$1.8M-17.8%	$2.2M+33.9%	$1.7M	N/A	$1.0M-22.6%	$1.3M+27.5%	$1.0M
Operating Income	N/A	-$7.2M+7.5%	-$7.8M-15.1%	-$6.8M	N/A	-$4.9M+2.8%	-$5.0M-18.4%	-$4.2M
Income Tax	N/A	N/A	$2K	N/A	N/A	N/A	$2K	N/A
Net Income	N/A	-$7.4M+5.5%	-$7.8M-16.2%	-$6.7M	N/A	-$4.8M+3.1%	-$5.0M-19.8%	-$4.1M
EPS (Diluted)	N/A	-$0.11+21.4%	-$0.14-16.7%	-$0.12	N/A	-$0.13+7.1%	-$0.14-16.7%	-$0.12

No annual filing on record for: FY2016.

MODD Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MODD annual balance sheet

Metric	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY15	FY14	FY13	FY12	FY11
Total Assets	$14.8M-20.8%	$18.7M+35.7%	$13.8M+90.6%	$7.2M-26.4%	$9.8M+338.0%	$2.2M-41.7%	$3.9M-42.0%	$6.7M+53.5%	$4.3M+1004.8%	$392K	$3K	$0	$0	$0	$0
Current Assets	$7.5M-44.2%	$13.5M+39.4%	$9.7M+139.7%	$4.0M-56.9%	$9.4M+469.4%	$1.6M-48.2%	$3.2M-51.5%	$6.6M+52.3%	$4.3M+999.5%	$392K	$3K	$0	N/A	N/A	N/A
Cash & Equivalents	$6.9M-47.0%	$13.1M+41.8%	$9.2M+143.0%	$3.8M-58.1%	$9.1M+518.1%	$1.5M-53.0%	$3.1M-52.4%	$6.6M+52.5%	$4.3M+996.1%	$392K	$0	$0	$0	$0	$0
Total Liabilities	$1.9M+13.0%	$1.7M-27.0%	$2.3M+4.7%	$2.2M+114.8%	$1.0M-71.3%	$3.5M+259.5%	$980K+448.4%	$179K+1055.3%	$15K-47.9%	$30K	$165K+25.4%	$132K+20.9%	$109K+23.6%	$88K+24.8%	$71K
Current Liabilities	$1.9M+48.1%	$1.3M-13.1%	$1.5M+48.6%	$979K+1.0%	$970K-70.6%	$3.3M+398.5%	$661K+269.6%	$179K+1056.5%	$15K-47.9%	$30K	$165K+25.4%	$132K+20.9%	$109K+23.6%	$88K+24.8%	$71K
Total Equity	$13.0M-24.1%	$17.1M+48.0%	$11.5M+127.2%	$5.1M-42.6%	$8.8M+793.0%	-$1.3M-144.3%	$2.9M-55.5%	$6.5M+49.9%	$4.3M+1091.0%	$363K	-$163K-23.5%	-$132K-20.9%	-$109K-23.6%	-$88K-24.8%	-$71K
Retained Earnings	-$113.0M-33.3%	-$84.8M-28.6%	-$65.9M-36.1%	-$48.5M-40.1%	-$34.6M-116.8%	-$15.9M-86.1%	-$8.6M-163.8%	-$3.2M-358.4%	-$709K-1334.0%	-$49K	-$247K-14.4%	-$216K	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$14.8M+44.6%	$10.3M-20.9%	$13.0M-8.4%	$14.2M-24.4%	$18.7M+54.2%	$12.1M+38.5%	$8.8M-12.9%	$10.1M
Current Assets	$7.5M+117.6%	$3.5M-41.7%	$5.9M-28.3%	$8.3M-38.7%	$13.5M+84.4%	$7.3M+75.6%	$4.2M-22.8%	$5.4M
Cash & Equivalents	$6.9M+136.4%	$2.9M-44.8%	$5.3M-29.3%	$7.5M-42.6%	$13.1M+87.4%	$7.0M+79.5%	$3.9M-22.9%	$5.1M
Total Liabilities	$1.9M-57.2%	$4.4M+4.1%	$4.2M+80.6%	$2.3M+40.4%	$1.7M-12.1%	$1.9M+1.7%	$1.9M-9.8%	$2.1M
Current Liabilities	$1.9M-14.0%	$2.2M-46.1%	$4.0M+97.3%	$2.0M+62.1%	$1.3M-8.5%	$1.4M+11.2%	$1.2M-7.3%	$1.3M
Total Equity	$13.0M+120.4%	$5.9M-32.9%	$8.8M-26.0%	$11.8M-30.6%	$17.1M+66.4%	$10.3M+48.4%	$6.9M-13.7%	$8.0M
Retained Earnings	-$113.0M-6.0%	-$106.6M-7.4%	-$99.2M-8.5%	-$91.5M-7.9%	-$84.8M-6.2%	-$79.8M-6.4%	-$75.0M-7.1%	-$70.1M

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

No annual filing on record for: FY2016.

MODD Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MODD annual cash flow statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	-$23.8M-51.1%	-$15.7M-12.7%	-$14.0M-26.7%	-$11.0M-7.3%	-$10.3M-73.6%	-$5.9M-44.3%	-$4.1M-126.5%	-$1.8M-128.5%	-$791K-3642.9%	-$21K	$0	$0	$0	$0	$0
Capital Expenditures	$3.9M+57.7%	$2.5M+46.6%	$1.7M+3.8%	$1.6M+2891.0%	$55K-50.1%	$110K-57.9%	$261K+238.1%	$77K+410.1%	$15K	$0	N/A	$0	$0	$0	$0
Free Cash Flow	-$27.7M-52.0%	-$18.2M-16.4%	-$15.7M-23.7%	-$12.6M-22.6%	-$10.3M-71.4%	-$6.0M-38.2%	-$4.4M-131.1%	-$1.9M-133.8%	-$806K-3714.4%	-$21K	N/A	$0	$0	$0	$0
Investing Cash Flow	-$3.9M-57.7%	-$2.5M-46.6%	-$1.7M-3.8%	-$1.6M-2891.0%	-$55K+50.1%	-$110K+57.9%	-$261K-238.1%	-$77K-403.0%	-$15K	$0	$0	$0	$0	$0	$0
Financing Cash Flow	$21.5M-2.5%	$22.1M+4.7%	$21.1M+186.0%	$7.4M-58.9%	$17.9M+310.6%	$4.4M+372.4%	$924K-77.7%	$4.1M-12.1%	$4.7M+19929.5%	$24K	$0	$0	$0	$0	$0
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$188K	N/A	N/A	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	-$5.8M+18.7%	-$7.2M-32.2%	-$5.4M-0.7%	-$5.4M-24.6%	-$4.3M-5.2%	-$4.1M-8.8%	-$3.8M-6.1%	-$3.5M
Capital Expenditures	$1.0M-17.8%	$1.2M+58.5%	$771K-17.5%	$934K-1.5%	$948K+74.9%	$542K+236.6%	$161K-80.9%	$842K
Free Cash Flow	-$6.8M+18.6%	-$8.4M-35.5%	-$6.2M+2.0%	-$6.3M-19.9%	-$5.3M-13.4%	-$4.6M-18.1%	-$3.9M+10.5%	-$4.4M
Investing Cash Flow	-$1.0M+17.8%	-$1.2M-58.5%	-$771K+17.5%	-$934K+1.5%	-$948K-74.9%	-$542K-236.6%	-$161K+80.9%	-$842K
Financing Cash Flow	$10.8M+80.5%	$6.0M+50.9%	$4.0M+442.4%	$733K-93.6%	$11.4M+47.0%	$7.7M+179.3%	$2.8M+1218.1%	$210K

Not reported in any period shown, so not listed: Dividends Paid.

No annual filing on record for: FY2016.

MODD Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

MODD annual financial ratios

Metric	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY15	FY14	FY13	FY12	FY11
Return on Equity	-217.9%-107.7pp	-110.2%+41.2pp	-151.4%+122.0pp	-273.4%-62.6pp	-210.8%	N/A	-184.8%-145.6pp	-39.2%-24.0pp	-15.3%-7.2pp	-8.1%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-190.4%-89.9pp	-100.5%+26.1pp	-126.5%+65.0pp	-191.6%-2.3pp	-189.2%+138.9pp	-328.2%-190.3pp	-137.9%-99.7pp	-38.2%-23.0pp	-15.2%-7.8pp	-7.5%	N/A	N/A	N/A	N/A	N/A
Current Ratio	4.03-6.7x	10.69+4.0x	6.66+2.5x	4.13-5.6x	9.68+9.2x	0.50-4.3x	4.82-31.9x	36.71-242.1x	278.81+265.6x	13.22	0.020.0x	0.00	N/A	N/A	N/A
Debt-to-Equity	0.140.0x	0.10-0.1x	0.20-0.2x	0.43+0.3x	0.11	N/A	0.34+0.3x	0.030.0x	0.00-0.1x	0.08	N/A	N/A	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Return on Equity	N/A	-125.2%-36.3pp	-88.8%-32.3pp	-56.6%	N/A	-46.8%+24.9pp	-71.7%-20.1pp	-51.6%
Return on Assets	N/A	-71.7%-11.7pp	-60.0%-12.8pp	-47.3%	N/A	-39.5%+17.0pp	-56.5%-15.4pp	-41.1%
Current Ratio	4.03+2.4x	1.59+0.1x	1.47-2.6x	4.04-6.6x	10.69+5.4x	5.30+1.9x	3.36-0.7x	4.03
Debt-to-Equity	0.14-0.6x	0.74+0.3x	0.48+0.3x	0.20+0.1x	0.10-0.1x	0.18-0.1x	0.270.0x	0.26

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.

No annual filing on record for: FY2016.

Similar Companies

Electrocore ECOR

$89.9M

Neuroone Med Technologies Corp NMTC

$17.7M

Inspira Technologies Oxy Bhn Ltd IINN

$16.2M

Myomo MYO

$68.1M

Vicarious Surgical Inc RBOT

$13.7M

Where Modular Med Inc Ranks

Frequently Asked Questions

Is Modular Med Inc profitable?

No, Modular Med Inc (MODD) reported a net income of -$28.2M in fiscal year 2026.

What is Modular Med Inc's EBITDA?

Modular Med Inc (MODD) had EBITDA of -$25.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

What is Modular Med Inc's return on equity (ROE)?

Modular Med Inc (MODD) has a return on equity of -217.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Modular Med Inc's free cash flow?

Modular Med Inc (MODD) recorded an outflow of $27.7M in free cash flow during fiscal year 2026. This represents a -52.0% 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) recorded an outflow of $23.8M in operating cash flow during fiscal year 2026, representing cash used by core business activities.

What are Modular Med Inc's total assets?

Modular Med Inc (MODD) had $14.8M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Modular Med Inc's capital expenditures?

Modular Med Inc (MODD) invested $3.9M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

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

Modular Med Inc (MODD) invested $20.0M in research and development during fiscal year 2026.

How many shares does Modular Med Inc have outstanding?

Modular Med Inc (MODD) had 5M shares outstanding as of fiscal year 2026.

What is Modular Med Inc's current ratio?

Modular Med Inc (MODD) had a current ratio of 4.03 as of fiscal year 2026, 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 0.14 as of fiscal year 2026, 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 -190.4% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Modular Med Inc's cash runway?

Based on fiscal year 2026 data, Modular Med Inc (MODD) had $6.9M in cash against an annual operating cash burn of $23.8M. This gives an estimated cash runway of approximately 4 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 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $28.2M while operations used $23.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.