Modular Medical Files 2024 Annual Report

TL;DR

Modular Medical filed its 10-K for FY24 ending March 31. Details on financials and operations.

AI Summary

Modular Medical, Inc. filed its annual report for the fiscal year ended March 31, 2024. The company, incorporated in Nevada, is involved in the surgical and medical instruments and apparatus industry. Its principal executive offices are located at 16772 West Bernardo Drive, San Diego, CA 92127.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Modular Medical, Inc.'s financial performance and operational status for the fiscal year ending March 31, 2024.

Risk Assessment

Risk Level: low — This is a standard annual filing and does not contain immediate, high-impact risk disclosures.

Key Numbers

• 0331 — Fiscal Year End (Indicates the end of the reporting period.)
• 20240621 — Filing Date (Date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• Modular Medical, Inc. (company) — Registrant
• March 31, 2024 (date) — Fiscal year end
• 16772 West Bernardo Drive, San Diego, CA 92127 (location) — Business and mailing address
• Nevada (location) — State of incorporation
• 001-41277 (dollar_amount) — Commission file number

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share MODD The Nasdaq Stock Market,
• $27,000 — nse per patient year from approximately $27,000 to $17,000. Despite these benefits, o
• $17,000 — ient year from approximately $27,000 to $17,000. Despite these benefits, only 1 in 3
• $1.9 billion — 32% of the T1D market correlating to a $1.9 billion growth opportunity. Insulin pumps on
• $3 billion — tal addressable market of approximately $3 billion for us, assuming cartridge revenue of a
• $4,100 — ming cartridge revenue of approximately $4,100 per patient, per year. We expect to spe

Filing Documents

• ea0207206-10k_modular.htm (10-K) — 1465KB
• ea020720601ex4-1_modular.htm (EX-4.1) — 73KB
• ea020720601ex21-1_modular.htm (EX-21.1) — 2KB
• ea020720601ex23-1_modular.htm (EX-23.1) — 2KB
• ea020720601ex31-1_modular.htm (EX-31.1) — 9KB
• ea020720601ex31-2_modular.htm (EX-31.2) — 9KB
• ea020720601ex32-1_modular.htm (EX-32.1) — 6KB
• ea020720601ex97-1_modular.htm (EX-97.1) — 30KB
• image_001.jpg (GRAPHIC) — 43KB
• image_002.jpg (GRAPHIC) — 125KB
• image_003.jpg (GRAPHIC) — 25KB
• image_004.jpg (GRAPHIC) — 4KB
• image_005.jpg (GRAPHIC) — 4KB
• image_006.jpg (GRAPHIC) — 3KB
• image_007.jpg (GRAPHIC) — 21KB
• 0001213900-24-054877.txt ( ) — 6305KB
• modd-20240331.xsd (EX-101.SCH) — 46KB
• modd-20240331_cal.xml (EX-101.CAL) — 31KB
• modd-20240331_def.xml (EX-101.DEF) — 231KB
• modd-20240331_lab.xml (EX-101.LAB) — 430KB
• modd-20240331_pre.xml (EX-101.PRE) — 228KB
• ea0207206-10k_modular_htm.xml (XML) — 567KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 36 Item 1C Cybersecurity 36 Item 2.

Properties

Properties 36 Item 3.

Legal Proceedings

Legal Proceedings 36 Item 4. Mine Safety Disclosures 36 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 37 Item 6. Reserved 38 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Item 7A. Quantitative and Qualitative Disclosures about Market Risk 42 Item 8.

Financial Statements

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 43 Item 9A.

Controls and Procedures

Controls and Procedures 43 Item 9B. Other Information 44 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 44 Part III Item 10. Directors, Executive Officers and Corporate Governance 45 Item 11.

Executive Compensation

Executive Compensation 51 Item 12.

Security Ownership of

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 56 Item 13. Certain Relationships and Related Transactions, and Director Independence 58 Item 14. Principal Accountant Fees and Services 58 Part IV Item 15. Exhibits 59 Item 16. Form 10K Summary 60

Signatures

Signatures 61 i FORWARD-LOOKING This Annual Report on Form 10-K (this "Report") contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that relate to future events or to our future operations or financial performance. Any forward-looking or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statement. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "forecast," "intend," "may," "plan," "potential," "predict," "project," "targets," "likely," "will," "would," "could," "should," "continue," "scheduled" and similar expressions or phrases, or the negative of those expressions or phrases, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Although we believe that we have a reasonable basis for each forward- looking statement contained in this report, we caution you that these statements are based on our estimates or projections of the future that are subject to known and unknown risks and uncertainties and other important factors that may cause our actual results, level of activity, performance, experience or achievements to differ materially from those expressed or implied by any forward- looking by any forward-looking statement as a result of various important factors, including our critical accounting policies and risks and uncertainties relating to: our strategies, prospects, plans, expectati

View Full Filing

View this 10-K filing on SEC EDGAR