Myomo Earnings Call Transcripts
Fiscal Year 2026
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The company leverages a first-mover advantage in wearable robotics for upper extremity paralysis, expanding market access and recurring revenue streams through payer contracts and referral programs. Product innovation, clinical validation, and operational efficiency drive growth, with a focus on reaching cash flow break-even as recurring revenues rise.
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A proprietary orthotic device for stroke survivors is driving growth through expanded Medicare coverage, recurring revenue channels, and partnerships with national providers. Revenue guidance for 2024 is $43–$46 million, with a reduced break-even point and targeted lower cash burn.
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Q1 2026 revenue rose 3% to $10.1M, with gross margin up to 68.2% and net loss narrowing to $3M. Recurring patient sources now drive 49% of revenue, and international growth remains strong. Full-year guidance is reiterated at $43–$46M.
Fiscal Year 2025
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Revenue grew 26% to $40.9M in 2025, with record Q4 orders and strong O&P and international growth. Recurring sources now make up 42% of Q4 revenue, and 2026 guidance targets $43–$46M revenue, higher gross margin, and halved cash burn.
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Q3 2025 revenue rose 10% to $10.1M, driven by record international and O&P channel growth. Gross margin declined due to higher costs, but the patient pipeline expanded 32% year-over-year. Full-year guidance of $40–$42M was reiterated, with a focus on operating leverage and diversified revenue streams.
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Q2 2025 revenue grew 28% year-over-year to $9.7M, but conversion rates and margins declined due to lower lead quality and higher costs. Cost-saving actions and a shift to TV advertising are underway, with full-year revenue now guided to $40–$42M, up 23–29%.
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Management targets $100 million revenue by 2028, driven by direct billing, O&P, and international growth, with manufacturing and operational efficiencies supporting scale. Gross margin is targeted at 70–72%, and the O&P channel relaunch aims for $20 million revenue. Key risks include payer dynamics and channel adoption.
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Q1 2025 saw 162% revenue growth to $9.8M, driven by Medicare and international sales, with gross margin up to 67.2%. The pipeline and O&P channel expanded, and full-year guidance of $50–$53M was reaffirmed, despite ongoing insurance and marketing challenges.
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Medicare reimbursement has unlocked a large U.S. market, driving record revenue and rapid growth. The company is expanding its O&P channel, investing in R&D, and expects 2025 revenue of $50–$53 million, with minimal tariff impact and strong leadership guiding its strategy.
Fiscal Year 2024
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Record 2024 results featured 154% Q4 revenue growth, positive Adjusted EBITDA, and expanded Medicare coverage. 2025 guidance projects 54%-66% revenue growth, with investments in advertising and capacity to drive further pipeline and O&P channel expansion.
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Record Q3 revenue and unit growth driven by Medicare Part B coverage and O&P channel expansion. Gross margin and operating results improved, with full-year guidance raised and breakeven targeted for Q4. O&P and international channels expected to drive future growth.
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Medicare Part B coverage has doubled the addressable market, driving record pipeline, backlog, and revenue growth. Operational scaling and new distribution channels support expansion, while ongoing insurer engagement and international ventures position the company for sustained growth.
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Record Q2 revenue and pipeline growth followed Medicare Part B coverage, with 77% year-over-year product revenue growth and a 9% increase in ASP. Guidance for Q3 and full-year 2024 remains strong, with expanded capacity and O&P channel development positioning for continued growth.
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Medicare Part B coverage has doubled the addressable U.S. market for a wearable robotic device for upper limb paralysis, driving a sharp ramp-up in demand and operational scaling. International growth is led by Germany, with China pending regulatory approval. Revenue is expected to accelerate in the second half of 2024.