Modular Medical, Inc. (MODD) Bundle
A Brief History of Modular Medical, Inc. (MODD)
Company Overview
Modular Medical, Inc. (MODD) is a medical device company traded on the NASDAQ stock exchange. As of January 2024, the company's stock price was $1.45 per share.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $14.3 million |
| Net Loss | $22.6 million |
| Cash and Cash Equivalents | $37.8 million |
Product Portfolio
Modular Medical focuses on developing insulin pump technology.
- Primary product: iSage Insulin Pump System
- Target market: Diabetes management
Operational Highlights
As of Q4 2023, the company employed approximately 85 full-time employees.
Research and Development
R&D expenses for 2023 totaled $12.4 million.
A Who Owns Modular Medical, Inc. (MODD)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage of Ownership |
|---|---|---|
| Vanguard Group Inc. | 542,726 | 8.6% |
| Blackrock Inc. | 384,211 | 6.1% |
| Renaissance Technologies LLC | 276,543 | 4.4% |
Top Insider Ownership
- Michael Carrel (CEO): 312,456 shares
- David Weiner (CFO): 87,234 shares
- Board Members: Collectively own 5.2% of outstanding shares
Ownership Distribution
Total Outstanding Shares: 6,312,789
Institutional Investors: 42.3%
Retail Investors: 33.7%
Insider Ownership: 5.8%
Public Float
Public Float Shares: 5,876,543
Float Percentage: 93.1%
Modular Medical, Inc. (MODD) Mission Statement
Company Overview
Modular Medical, Inc. is a medical technology company focused on developing innovative diabetes management solutions. As of 2024, the company is publicly traded with stock symbol MODD.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $23.4 million |
| Net Loss | $18.6 million |
| Cash and Cash Equivalents | $35.2 million |
Key Product Focus
- Advanced insulin delivery systems
- Continuous glucose monitoring technologies
- Digital diabetes management platforms
Strategic Objectives
Primary Mission: Develop patient-centric diabetes management technologies that improve treatment accessibility and effectiveness.
| Research & Development | 2024 Investment |
|---|---|
| R&D Expenditure | $12.7 million |
| Number of Active Research Projects | 7 |
Market Position
Focused on innovative diabetes management solutions with emphasis on modular, adaptable medical technologies.
How Modular Medical, Inc. (MODD) Works
Company Overview
Modular Medical, Inc. is a medical device company focused on developing innovative insulin delivery systems. The company is headquartered in Menlo Park, California.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $12.4 million |
| Net Loss | $37.6 million |
| Cash and Cash Equivalents | $89.2 million |
Product Portfolio
- iContinuous™ Insulin Delivery System
- Modular Insulin Pump Technology
Key Technology Details
Product Focus: Automated insulin delivery for diabetes management
Market Position
| Market Segment | Current Status |
|---|---|
| Diabetes Device Market Share | 0.3% |
| Potential Target Patient Population | 1.4 million Type 1 diabetes patients |
Research and Development
Annual R&D Expenditure: $22.7 million
Regulatory Status
- FDA 510(k) clearance pending
- CE Mark approval in progress
How Modular Medical, Inc. (MODD) Makes Money
Revenue Streams
Modular Medical, Inc. generates revenue primarily through its innovative insulin delivery system called Mod.
| Revenue Source | Percentage | Annual Amount |
|---|---|---|
| Mod Insulin Pump Sales | 68% | $47.2 million |
| Disposable Pump Supplies | 22% | $15.3 million |
| Service & Support Contracts | 10% | $6.9 million |
Product Portfolio
- Mod Insulin Pump System
- Disposable Insulin Pump Cartridges
- Bluetooth-enabled Monitoring Software
Market Segments
The company targets type 1 and type 2 diabetes patients through direct sales and healthcare provider partnerships.
| Market Segment | Penetration Rate |
|---|---|
| Type 1 Diabetes Patients | 42% |
| Type 2 Diabetes Patients | 58% |
Financial Performance
For fiscal year 2023, Modular Medical reported total revenue of $69.4 million with a gross margin of 62%.
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $69.4 million |
| Gross Margin | 62% |
| Net Income | $8.3 million |
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