AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: MODD
Report Date: 2026-04-02
Full Report: https://amaly.io/stock/MODD

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: B
Description: Modular Medical, Inc. (MODD) is a development-stage medical device company specializing in insulin pumps for diabetes management. The business activity is Shariah-compliant, focusing on healthcare innovation without involvement in prohibited sectors. However, financial screening reveals non-compliance primarily due to an elevated liquidity ratio exceeding thresholds across major standards. The company maintains low debt and no identifiable non-permissible income, but insufficient granular data on income sources warrants caution. Overall, while the core business aligns with Islamic principles, quantitative financial criteria lead to non-compliance classification.

Primary Compliance Concerns:
- Liquidity Ratio: 35.82% (exceeds 30-33% thresholds across AAOIFI, MSCI, S&P)
- Insufficient data for precise interest and non-permissible income ratios
- Development-stage status limits historical financial transparency

Purification Requirement: 0.00%
Index Inclusion: Not included in any major Shariah indices (S&P, MSCI, FTSE, DJIM)

KEY FINANCIAL METRICS
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Debt Ratio: 2.2%
Liquidity Ratio: 35.8%
Interest Income Ratio: 0.0%
Purification Required: 0.00%

INDEX INCLUSION STATUS
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S&P Shariah: EXCLUDED
MSCI Islamic: EXCLUDED
DJIM: EXCLUDED
FTSE Shariah: EXCLUDED
Total: 0 of 4
Last Verified: Unknown

REPORTING PERIOD
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Latest Annual Report: FY 2025
Latest Quarterly Data: Q1 2026
Trend Period: FY 2020 to FY 2025
Data Retrieved: 2026-02-27T12:00:00Z

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Full interactive report: https://amaly.io/stock/MODD
Provided by Amaly (https://amaly.io) — Shariah Compliant Stock Screener
Disclaimer: This data is for informational purposes only and does not constitute financial or religious advice.