Welcome to our dedicated page for Myomo news (Ticker: MYO), a resource for investors and traders seeking the latest updates and insights on Myomo stock.
Myomo Inc. develops and markets wearable medical robotics for people with neurological disorders and upper-limb paralysis. Its MyoPro product line is a powered upper-limb orthosis that uses non-invasive EMG sensors to support weakened or paralyzed arms in patients with conditions such as stroke, brachial plexus injury, traumatic brain injury, spinal cord injury and other neuromuscular disease or injury.
Company news commonly covers MyoPro orders, insurance authorizations, patient-pipeline trends, revenue from recurring patient sources, market-access relationships with orthotics and prosthetics providers, and product-development updates such as the Myomo Mobile App. Updates also include clinical research evaluating MyoPro, operating results, direct-billing activity, international sales channels and board governance changes.
Myomo reported a Q2 2022 revenue of $3.7 million, up 18% year-over-year, driven by a higher average selling price. The patient pipeline reached a record 1,049 candidates, marking a 52% increase. However, gross margin fell to 65.5%, down 550 basis points from last year, due to increased product costs. Despite these results, Myomo expects sequential growth in future quarters, though year-over-year revenue may decline in Q3 due to market conditions.
Myomo, Inc. (AMEX:MYO) will report its financial results for the three and six months ended June 30, 2022 on August 3, 2022, after market close. A conference call will follow at 4:30 p.m. ET, featuring remarks from CEO Paul R. Gudonis and CFO David Henry. Participants can pre-register for the call and access details through Myomo’s Investor Relations page. The company is known for its MyoPro product line, which aids individuals with upper-limb paralysis, promoting independence and improved daily living activities.
Myomo, Inc. (AMEX: MYO) announced preliminary revenue for Q2 2022, expected between $3.4 million and $3.6 million, reflecting a 10% to 16% increase from Q2 2021. The company achieved a record of over 400 additions to its MyoPro patient pipeline, attributing this success to enhanced marketing strategies. However, Myomo is facing delays in receiving a joint venture license payment from China due to COVID-19-related banking backlogs. Full Q2 results will be reported on August 3, 2022.
Myomo, Inc. (AMEX:MYO), a wearable medical robotics company, announced that CEO Paul Gudonis and CFO David Henry will present a business update at the Sidoti Summer Small Cap Conference on June 15, 2022, at 4:00 p.m. ET. Investors can access the presentation here. Additionally, one-on-one investor meetings will be held on June 15 and 16, 2022. A replay of the presentation will also be available.
Myomo reported a 66% increase in total revenue for Q1 2022, reaching $3.9 million, driven by a 23% rise in product revenue to $2.9 million. The company achieved a gross margin of 66.7%, despite a decline from the previous year due to increased deliveries and costs. The backlog of units awaiting insurance authorization rose by 36% to 160 units. Myomo's pipeline now includes 924 MyoPro candidates, reflecting a 62% increase from Q4 2021. Looking ahead, Myomo anticipates continued growth in product revenues for the year.
Myomo, Inc. (NYSE American: MYO) will announce its financial results for the three months ended March 31, 2022 on May 11, 2022, after market close. The Company will host a conference call at 4:30 p.m. ET the same day, featuring comments from CEO Paul R. Gudonis and CFO David Henry. Participants can pre-register for the call for expedited access. Myomo focuses on wearable medical robotics that enhances functionality for patients with upper-limb paralysis, particularly through its MyoPro product line.
Myomo, Inc. (NYSE American: MYO) has provided an update regarding its joint venture in China, confirming receipt of a $1.0 million technology license fee from Jiangxi Myomo Medical Assistive Appliance Co. Ltd. This fee is part of a total license fee of $2.7 million and will contribute to the Company’s first quarter revenue, alongside product revenue projected between $2.6 million and $3.0 million. Myomo anticipates the remaining $1.7 million will be received in the second quarter, enabling further operations in China to aid individuals with upper-limb paralysis.
Myomo, Inc. (NYSE American: MYO), a company specializing in wearable medical robotics, is set to participate in two investor conferences in March 2022. The first event is the 34th Annual ROTH Conference from March 13-15 at The Ritz-Carlton, Laguna Niguel, CA, with a Fireside Chat on March 14 at 2:00 p.m. PT. The second is the Oppenheimer’s 32nd Annual Healthcare Conference on March 15-16, featuring a presentation on March 16 at 2:00 p.m. ET. Myomo’s product line, MyoPro, assists those with upper-limb paralysis to regain functionality.
Myomo reported Q4 2021 revenue of $4.0 million, a 6% increase year-over-year, and full-year revenue of $13.9 million, up 83% from 2020. Gross margin improved to 77.4%, up 400 basis points year-over-year. Despite this, operating loss increased to $2.7 million in Q4 and net loss for the quarter was $3.4 million, or $0.52 per share. The cash position was strong at $15.5 million, adequately funding operations for at least the next 12 months. Myomo anticipates product revenue between $2.6 million to $3.0 million in Q1 2022.
Myomo, Inc. (NYSE American: MYO) will report its financial results for the fiscal year ending December 31, 2021, on March 9, 2022, after market close. A conference call will follow at 4:30 p.m. ET on the same day, featuring remarks from CEO Paul R. Gudonis and CFO David Henry. Interested participants can pre-register for the call or access it via dial-in. Myomo specializes in wearable medical robotics, particularly the MyoPro product line, which aids individuals with upper limb paralysis. For more details, visit Myomo’s Investor Relations page.