Modular Medical Inc 2026年季度报告

FORM 10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedJune 30, 2026 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto Commission file number:000-49671 MODULAR MEDICAL, INC.(Exact Name of Registrant as Specified in its Charter) Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on whichregistered Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. ☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). ☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐Yes☒No The number of outstanding shares of the registrant’s common stock, par value $0.001 per share, was 8,150,823 as of August 14, 2026. MODULAR MEDICAL,INC. FORM10-QJUNE30, 2026 TABLE OF CONTENTSPARTI — FINANCIAL INFORMATION1Item 1.Financial Statements (Unaudited):1Condensed Consolidated Balance Sheets as of June30, 2026 and March31, 20261Condensed Consolidated Statements of Operations for the three monthsended June 30, 2026 and June 30, 20252Condensed Consolidated Statements of Stockholders’ Equity for the three months endedJune 30, 2026 and 20253Condensed Consolidated Statements of Cash Flows for the three months ended June 30, 2026 and 20254Notes to Condensed Consolidated Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations15Item 3.Quantitative and Qualitative Disclosures about Market Risk18Item 4.Controls and Procedures18PARTII — OTHER INFORMATION19Item 1.Legal Proceedings19Item 1A.Risk Factors19Item 2.Unregistered Sales of Equity Securities and Use of Proceeds20Item 3.Defaults Upon Senior Securities20Item 4.Mine Safety Disclosures20Item 5.Other Information20Item 6.Exhibits21Signatures22 Part I – FINANCIAL INFORMATION Item 1. Financial Statements Modular Medical, Inc.Condensed Consolidated Balance Sheets(In thousands, except par value) June 30,2026(Unaudited)March 31,2026 Modular Medical, Inc.Condensed Consolidated Statements of Operations(Unaudited)(In thousands, except per share data) Modular Medical, Inc.Condensed Consolidated Statements of Stockholders’ Equity(Unaudited)(In thousands) Modular Medical, Inc.Condensed Consolidated Statements of Cash Flows(Unaudited)(In thousands) MODULAR MEDICAL, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED) NOTE 1 – THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Modular Medical, Inc. (the “Company”) is a commercial-stage medical device company focused on the design, development andcommercialization of innovative insulin pumps using modernized technology to increase pump adoption in the diabetes marketplace.Through the creation of an innovative two-part patch pump, its initial product, the Company seeks to fundamentally alter the trade-offsbetween cost and complexity and access to the higher standards of care requiring considerable motivation that presently availableinsulin pumps provide. By simplifying and streamlining the user experience from introduction, prescription, reimbursement, trainingand day-to-day use, the Company seeks to expand the wearable insulin delivery device market beyond the highly motivated “superusers” and expand the category into the mass market. The product seeks to serve both the type 1 and the rapidly growing, especially interms of device adoption, type 2 diabetes markets. In January 2024, the Company submitted a 510(k) premarket notification to theUnited States Food and Drug Administration (the “FDA”) for its initial product, the MODD1, and, in September 2024, the Companyreceived FDA clearance to market and sell the MODD1 pump in the United States. In August 2025, the Company announced