On March 12, 2026, Modular Medical, Inc. reported a significant reduction in its workforce, eliminating 20 positions, which constitutes approximately 29% of its total employees. This decision aims to lower operating expenses by an estimated $3.4 million annually. The company anticipates incurring non-recurring charges of $0.1 to $0.2 million primarily related to severance payments, expected to be recognized in the quarter ending June 30, 2026.

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