Modular Medical
Early-commercial maker of reusable-component tubeless insulin patch pumps.
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Profile
Begins commercializing a reusable-component, tubeless insulin patch pump for U.S. adults who have not adopted existing pumps. The planned model pairs pump sales with recurring disposable components and depends on reimbursement, training, distributor reach, and regulated manufacturing.
Designs and is beginning to commercialize Pivot, a prescription-only tubeless insulin patch pump for U.S. adults who require insulin. The system delivers basal and user-initiated bolus insulin through a removable patch, pairing a reusable pumping component with disposable three-day elements. It is aimed at people who still use multiple daily injections and have not adopted conventional pumps.
Plans to sell the reusable pump with recurring cartridges and infusion components, using distributors for patients managed in primary care and a small direct team for diabetes-educator practices. Product and process development are internal, while infusion sets and manufacturing support come from third parties, including Phillips-Medisize.
Launch execution depends on FDA quality and post-market obligations, reimbursement, prescription fulfillment, training, manufacturing reliability, and acceptance from patients, clinicians, distributors, and payors. Pivot is the only intended commercial product after MODD1 was superseded before commercialization.
Company facts
Categories
Key statistics
Year to date −70.3% · Average volume (30d) 354.6K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 14, 2026Q1 FY27 | — | −$1.19 | — | — | — | — | +33.16% |
| Jun 29, 2026Q4 FY26 | −$2.70 | −$1.37 | +49.3% | $1.8M | — | — | −7.79% |
| Feb 17, 2026Q3 FY26 | −$3.00 | −$3.30 | −10.0% | $800.0K | — | — | −1.60% |
| Nov 14, 2025Q2 FY26 | −$0.10 | −$0.14 | −40.0% | $400.0K | — | — | −2.63% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | $0 | $0 | −$441.0K | $0 | |
| Operating income | −$5.0M | −$6.8M | −$7.8M | −$7.2M | −$5.7M | −$6.5M | |
| Net income | −$4.9M | −$6.7M | −$7.8M | −$7.4M | −$6.4M | −$6.5M | |
| Diluted EPS | −$3.60 | −$3.60 | −$4.20 | −$3.30 | −$1.37 | −$1.19 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0 · FY26 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $3.9M · Total debt $278.0K · Total assets $12.3M · Shareholders' equity $10.8M
Dividends
No dividends on record.
Ownership
Shares outstanding 2.11M · Float 1.90M · 90.3% free float
A split settled inside the quarter being compared, so quarter-on-quarter change is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| AWM Investment Company, Inc. | 540.6K | 9.90% | 13G | May 4, 2026 |
| Solas Capital Management, LLC | 464.9K | 9.60% | 13G | May 15, 2026 |
| Pathfinder Asset Management Ltd | 399.8K | 7.40% | 13G | Aug 7, 2026 |
| Bleichroeder LP | 337.0K | 6.23% | 13G | Aug 13, 2026 |
| 683 Capital Management, LLC | 125.0K | 5.93% | 13F | May 15, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Insulet
Closest head-to-head in tubeless insulin patch pumps.
- Tandem Diabetes Care
Established pump platforms compete for U.S. insulin-pump starts.
- Medtronic
Large diabetes-device incumbent with automated pump therapy.
- Beta Bionics
Automation-led alternative for insulin users leaving injections.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Modular Medical | $3.88 | +13.12% | $7.3M | — | — | — | — |
| Insulet | $145.31 | +0.11% | $10.05B | 27.1 | 21.0 | 3.3 | +23.5% |
| Tandem Diabetes Care | $21.16 | −1.26% | $1.47B | — | — | 1.4 | +5.8% |
| Medtronic | $91.58 | +0.42% | $116.78B | 24.5 | 15.3 | 3.2 | +9.9% |
| Beta Bionics | $20.11 | +2.08% | $887.2M | — | — | 7.5 | +37.8% |
| Median | 25.8 | 18.2 | 3.3 | +16.7% |