Modular Medical Files Q3 2024 10-Q

TL;DR

MODULAR MEDICAL (MODM) FILED ITS 10-Q FOR DEC 31, 2024. CHECK FINANCIALS.

AI Summary

Modular Medical, Inc. filed its 10-Q for the quarterly period ended December 31, 2024. The company, incorporated in Nevada, operates in the surgical and medical instruments sector. Its principal executive offices are located at 16772 West Bernardo Drive, San Diego, CA 92127.

Why It Matters

This filing provides investors with the company's financial performance and operational updates for the third quarter of fiscal year 2024, crucial for assessing its current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine 10-Q filing with no immediate red flags or significant new disclosures.

Key Players & Entities

• Modular Medical, Inc. (company) — Registrant
• December 31, 2024 (date) — Quarterly period end date
• 16772 West Bernardo Drive, San Diego, CA 92127 (location) — Business and mailing address
• Nevada (location) — State of incorporation
• 001-41277 (other) — SEC file number

FAQ

Key Financial Figures

• $0.001 — he registrant's common stock, par value $0.001 per share, was 40,665,220 as of Februar

Filing Documents

• ea0230149-10q_modular.htm (10-Q) — 493KB
• ea023014901ex31-1_modular.htm (EX-31.1) — 9KB
• ea023014901ex31-2_modular.htm (EX-31.2) — 9KB
• ea023014901ex32-1_modular.htm (EX-32.1) — 6KB
• 0001213900-25-013462.txt ( ) — 3626KB
• modd-20241231.xsd (EX-101.SCH) — 35KB
• modd-20241231_cal.xml (EX-101.CAL) — 24KB
• modd-20241231_def.xml (EX-101.DEF) — 165KB
• modd-20241231_lab.xml (EX-101.LAB) — 334KB
• modd-20241231_pre.xml (EX-101.PRE) — 182KB
• ea0230149-10q_modular_htm.xml (XML) — 411KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Modular Medical, Inc. Condensed Consolidated Balance Sheets (In thousands, except par value) December 31, 2024 (Unaudited) March 31, 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 6,986 $ 9,232 Prepaid expenses and other 345 465 TOTAL CURRENT ASSETS 7,331 9,697 Property and equipment, net 3,958 2,975 Right of use asset, net 860 1,135 TOTAL ASSETS $ 12,149 $ 13,807 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 522 $ 802 Accrued expenses 451 280 Short-term lease liabilities 410 373 TOTAL CURRENT LIABILITIES 1,383 1,455 Long-term lease liabilities 504 817 TOTAL LIABILITIES 1,887 2,272 Commitments and Contingencies (Note 7) STOCKHOLDERS' EQUITY Preferred Stock, $ 0.001 par value, 5,000 shares authorized, none issued and outstanding — — Common Stock, $ 0.001 par value, 100,000 shares authorized; 40,665 and 32,464 shares issued and outstanding as of December 31, 2024 and March 31, 2024, respectively 41 32 Additional paid-in capital 90,047 77,432 Accumulated deficit ( 79,826 ) ( 65,929 ) TOTAL STOCKHOLDERS' EQUITY 10,262 11,535 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 12,149 $ 13,807 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 Modular Medical, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share data) Three Months Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Operating expenses Research and development $ 3,853 $ 3,838 $ 10,760 $ 9,765 General and administrative 1,001 1,431 3,310 3,445 Total operating expenses 4,854 5,269 14,070 13 210 Loss from operations ( 4,854 ) ( 5,269 ) ( 14,070 ) ( 13,210 ) Other income 50 — 175 23 Loss before income taxes ( 4,804 ) ( 5,269 ) ( 13,895 ) ( 13,187 ) Provision for income taxes — — 2 2 Net loss

View Full Filing

View this 10-Q filing on SEC EDGAR