Myomo, Inc. (NYSE: MYO) lifts 2026 outlook after strong Q2 growth

Rhea-AI Filing Summary

Myomo, Inc. reported second quarter 2026 revenue of $11.7 million, a 21% increase from a year earlier, driven by higher average selling prices and 211 MyoPro units recognized. Gross margin rose to 72.1% from 62.7% as cost reductions and pricing offset higher clinical costs.

Operating expenses were $10.7 million, up less than 1%, leading to an operating loss of $2.3 million versus $4.6 million last year. Net loss was $4.0 million, or $0.09 per share, including a $1.2 million non-cash derivative liability charge, while Adjusted EBITDA loss improved to $0.8 million from $4.0 million. Cash, cash equivalents and short-term investments totaled $13.5 million, with cash used in operating activities reduced to $1.9 million from $8.9 million. Management now expects third quarter 2026 revenue of $11.5 million to $12.0 million and has raised full-year 2026 revenue guidance to $45 million to $47 million, while reiterating expectations for operating leverage and lower second-half cash burn.

Positive

• Q2 2026 revenue grew 21% to $11.7 million, supported by higher ASPs, more units (211 MyoPro devices), and 53% of revenue coming from recurring referral sources.
• Profitability metrics improved sharply, with gross margin rising to 72.1% from 62.7% and Adjusted EBITDA loss narrowing to $0.8 million from $4.0 million year over year.
• Cash burn and outlook strengthened: cash used in operations fell to $1.9 million from $8.9 million, and full-year 2026 revenue guidance increased to $45 million to $47 million.

Negative

• None.

Filing Explained

June 30 liquidity included $13.5 million cash and investments, while the balance sheet separately reported $446,962 current and $11,532,254 long-term debt.

This Form 8-K reports Myomo’s second-quarter results under Item 2.02; the company says the information, including Exhibit 99.1, is furnished and is not deemed filed for Section 18 purposes. As of June 30, 2026, the disclosed liquidity structure included $11,219,217 of cash, $2,233,141 of short-term investments, and separately reported current and long-term debt.

The balance sheet lists a current portion of long-term debt of $446,962, net of discount, and long-term debt of $11,532,254, net of discount. Stockholders’ equity was $5,829,370 at June 30, 2026, down from $11,403,467 at December 31, 2025.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Revenue: $11,704,565 Q2 2026 Gross Margin: 72.1% Q2 2026 Operating Loss: $2,254,486 +5 more

8 metrics

Q2 2026 Revenue $11,704,565 Three months ended June 30, 2026; up 21% year over year

Q2 2026 Gross Margin 72.1% Three months ended June 30, 2026; up from 62.7% in Q2 2025

Q2 2026 Operating Loss $2,254,486 Loss from operations for the three months ended June 30, 2026

Q2 2026 Net Loss $4,021,360 Net loss for the three months ended June 30, 2026

Q2 2026 Adjusted EBITDA Loss $827,282 Adjusted EBITDA loss for the three months ended June 30, 2026

Cash, cash equivalents and short-term investments $13.5 million As of June 30, 2026

Full-year 2026 revenue guidance $45 million to $47 million Raised full-year 2026 revenue outlook

Q3 2026 revenue guidance $11.5 million to $12.0 million Expected third quarter 2026 revenue range

Key Terms

Adjusted EBITDA, gross margin, warrant derivative liability, Deferred revenue, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA loss for the second quarter of 2026 was $0.8 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

gross margin financial

"Gross margin for the second quarter of 2026 was 72.1%"

Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.

warrant derivative liability financial

"Warrant derivative liability was 1,127,498 as of June 30, 2026"

Deferred revenue financial

"Deferred revenue was 202,580 in current liabilities"

Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.

wearable medical robotics technical

"Myomo, Inc. is a wearable medical robotics company"

Earnings Snapshot

Q2 2026 revenue: $11.7 million · Guidance included

Three and six months ended June 30, 2026

Q2 2026 revenue $11.7 million up 21% year over year

Q2 2026 gross margin 72.1% up from 62.7% in Q2 2025

Q2 2026 net loss $4.0 million narrowed from $4.6 million in Q2 2025

Q2 2026 Adjusted EBITDA loss $0.8 million improved from $4.0 million loss a year earlier

Guidance

Management expects Q3 2026 revenue of $11.5 million to $12.0 million and raised full-year 2026 revenue guidance to $45 million to $47 million, while targeting second-half cash burn under $2 million.

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Available on EDGAR 08/05/2026 - 04:11 PM Accepted by SEC EDGAR 08/05/2026 - 04:10 PM Learn about SEC filing dates

FAQ

What were Myomo (MYO) Q2 2026 revenues and growth?

Myomo reported Q2 2026 revenue of $11.7 million, up 21% from $9.7 million in Q2 2025. Growth was driven by higher average selling prices and 211 MyoPro units recognized, with strong contributions from Direct Billing and orthotic and prosthetic sales channels.

How profitable was Myomo (MYO) in the second quarter of 2026?

Myomo posted a Q2 2026 net loss of $4.0 million, or $0.09 per share, versus a $4.6 million loss a year earlier. Operating loss improved to $2.3 million, and Adjusted EBITDA loss narrowed significantly to $0.8 million from $4.0 million.

What guidance did Myomo (MYO) give for Q3 and full-year 2026?

Management expects Q3 2026 revenue of $11.5 million to $12.0 million, representing 14% to 19% year-over-year growth. Full-year 2026 revenue guidance was raised to $45 million to $47 million, with continued operating leverage and second-half cash burn under $2 million.

How did Myomo’s (MYO) cash position and cash burn change in Q2 2026?

Cash, cash equivalents and short-term investments totaled $13.5 million at June 30, 2026. Cash used in operating activities improved markedly, falling to $1.9 million in Q2 2026 compared with $8.9 million used in the same quarter of 2025.

What key operating metrics did Myomo (MYO) highlight for Q2 2026?

Myomo added 739 patients to its pipeline and achieved a record 255 orders, up 23% year over year. Average selling price was about $55,500, 53% of revenue came from recurring patient sources, and U.S. O&P revenue rose 130% year over year.

How did Myomo’s (MYO) gross margin and expenses trend in Q2 2026?

Gross margin improved to 72.1% from 62.7% in Q2 2025, reflecting higher pricing and cost reductions. Operating expenses were $10.7 million, increasing less than 1% year over year, demonstrating operating leverage as revenue grew 21% during the quarter.

0001369290false00013692902026-08-052026-08-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 5, 2026

Myomo, Inc.

(Exact Name of Company as Specified in Charter)

Delaware		001-38109		47-0944526
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)
45 Blue Sky Dr., Suite 101 Burlington, MA				01803
(Address of Principal Executive Offices)				(Zip Code)

Company’s telephone number, including area code: (617) 996-9058

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.0001 par value per share		MYO		NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On August 5, 2026, Myomo, Inc, (the "Company") announced its financial results for the second quarter ended June 30, 2026. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Form 8-K (including Exhibit 99.1) is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01.

(d) Exhibits

Exhibit No.		Description
99.1		Press release issued by Myomo, Inc. on August 5, 2026, furnished herewith.
104		The cover page from the Company’s Form 8-K dated August 5, 2026, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			MYOMO, INC.
Date:	August 5, 2026	By:	/s/ David A. Henry
			David A. Henry Chief Financial Officer

Exhibit 99.1

Myomo Reports Second Quarter 2026 Financial and Operating Results

Revenue of $11.7 million, increased 21% year over year

Four success pillars driving higher revenue growth and operating leverage

Raising full year revenue guidance to $45-47 million

Conference call begins at 4:30pm Eastern time today

BURLINGTON, Mass. (August 5, 2026) – Myomo, Inc. (NYSE American: MYO)(“Myomo” or the “Company”), a wearable medical robotics platform company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today reported financial results for the three and six months ended June 30, 2026.

“I am pleased to report that the evolution of our go-to-market approach is driving positive results. Revenue of $11.7 million exceeded our expectations, with 53% of second quarter revenues generated from referral network sources through our MyoConnect program and other sales channels. In addition, we generated operating leverage as we grew revenue 21% while holding operating expenses roughly flat," said Paul R. Gudonis, Chairman and Chief Executive Officer of Myomo. “We believe our growing clinical referral network and the increased market awareness of our wearable robotics platform will lead to greater adoption by rehab clinicians and the hundreds of thousands of potential MyoPro candidates they treat. We anticipate continued progress on these initiatives and as a result are raising the revenue guidance to approximately 10-15% growth over the prior year.”

Success Pillar Accomplishments:

•Shift to Recurring Patient Sources: 53% of second quarter revenue was derived from recurring patient sources, such as provider referrals, orthotic and prosthetic (O&P) partners and the Department of Veteran’s Affairs (VA), up from 26% in the second quarter of 2025. Revenue from the U.S. O&P and International sales channels increased by 130% and 32%, respectively, year-over-year.

•Increase Market Access with Additional Payer Contracts: Additional state contracts were completed in the second quarter under our multi-state arrangement with Elevance's Anthem Blue Cross Blue Shield Network, with contracts in process with other payers. Including Medicare and VA patients, we have in-network access to more than 100 million covered lives.

•Demonstrate Operating Leverage: Revenues increased 21% year-over-year, while operating expenses increased less than 1%. In addition, gross margin expanded by 940 basis points year-over year, contributing to a 79% year-over-year improvement in Adjusted EBITDA.

•Invest in Product Development and Clinical Research: The randomized controlled trial underway at the University of Utah has enrolled 25 of a planned 50 subjects. In addition, MypPro3 development continues to make progress, and we introduced a prototype of a hand-only version for the German market at OT World in May as the next product built upon our mobility robotics platform.

Results of Key Operating Metrics:

•Added 739 patients to the pipeline in the second quarter, including a 40% sequential increase in pipeline additions from the MyoConnect program.

•Expanded in-network access and higher quality patient referrals improved order rates, resulting in a record 255 orders in the second quarter, an increase of 23% year over year.

•Average selling price (“ASP”) was approximately $55,500, up 2% vs. the prior year.

Financial Results

	For the Three Months Ended June 30,						Period- to-Period Change						For the Six Months Ended June 30,						Period- to-Period Change
	2026			2025			$			%			2026			2025			$			%
Revenue	$	11,704,565		$	9,652,234		$	2,052,331			21	%	$	21,817,853		$	19,484,048			2,333,805			12	%
Cost of revenue		3,262,017			3,600,061			(338,044	)		(9	)%		6,473,698			6,822,246			(348,548	)		(5	)%
Gross profit	$	8,442,548		$	6,052,173		$	2,390,375			39	%	$	15,344,155		$	12,661,802		$	2,682,353			21	%
Gross margin %		72.1	%		62.7	%					9.4	%		70.3	%		65.0	%					5.3	%

Revenue: Revenue for the second quarter of 2026 was $11.7 million, up 21% compared with the second quarter of 2025, reflecting a higher ASP, and an increase in the number of revenue units. Myomo recognized revenue on 211 MyoPro units in the quarter, up 19% over the same period a year ago and driven by higher volume in our Direct Billing and O&P sales channels.

Gross Margin: Gross margin for the second quarter of 2026 was 72.1%, compared with 62.7% for the second quarter of 2025. The increase was driven primarily by the higher ASP and the impact of cost reductions, such as the rollout of the Myomo Mobile App which reduces material costs, partially offset by higher clinical costs classified to cost of goods sold.

Operating Expenses: Operating expenses for the second quarter of 2026 were $10.7 million, an increase of less than 1% compared with the second quarter of 2025. The increase was primarily due to higher general and administrative expenses, driven by seasonally higher legal expense, partially offset by lower research and development expenses and lower advertising expense.

Operating and Net Loss: Operating loss for the second quarter of 2026 was $2.3 million, compared with an operating loss of $4.6 million for the second quarter of 2025. Net loss, including a non-cash charge of $1.2 million for the mark-to-market of our derivative liabilities, was $4.0 million, or $0.09 per share for the second quarter of 2026, compared with $4.6 million, or $0.11 per share, for the second quarter of 2025.

Adjusted EBITDA: Adjusted EBITDA loss for the second quarter of 2026 was $0.8 million, compared with $4.0 million for the second quarter of 2025, an improvement of approximately 79%. A reconciliation of GAAP net loss to this non-GAAP financial measure appears below.

Cash, Cash Equivalents and Cash Flows: Cash, cash equivalents and short-term investments as of June 30, 2026, were $13.5 million. Cash used in operating activities was $1.9 million for the second quarter of 2026, compared with $8.9 million used in operating activities in the second quarter of 2025.

Business Outlook

"In the third quarter of 2026, we expect continued year-over-year revenue growth with modestly higher operating expenses on a sequential basis, as we expand our MyoConnect program. We expect third quarter 2026 revenue to be in the range of $11.5 million to $12.0 million, up 14% to 19% year-over-year. We are raising our full year revenue guidance to $45 million to $47 million. We reiterate our full year operating leverage expectation, and we expect cash burn to be less than $2 million during the second half of the year," added Mr. Gudonis.

Conference Call and Webcast

Myomo will hold a conference call today at 4:30 p.m. Eastern time to discuss these results and answer questions. Participants are encouraged to pre-register for the call at this link. Callers who pre-register will receive a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time up to and after the start of the call. Those unable to pre-register may participate by dialing 844-707-6932 (U.S.) or 412-317-9250 (International). A webcast of the call will also be available at Myomo’s Investor Relations page at http://ir.myomo.com/.

A replay of the webcast will be available beginning approximately one hour after the completion of the live conference call at http://ir.myomo.com/. A dial-in replay of the call will be available until August 19, 2026 at 855-669-9658 (U.S./Canada toll-free) or 412-317-0088 (International), with passcode 1135727.

Non-GAAP Financial Measures

Myomo is providing financial information that has not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. This information includes Adjusted EBITDA. This non-GAAP financial measure is not in accordance with, or an alternative for, GAAP and may be different from similar non-GAAP financial measures used by other companies. Myomo believes the use of this non-GAAP financial measure provides supplementary information for investors to use in evaluating operating performance and in comparing Myomo’s financial measures with other companies in its industry, many of which present similar non-GAAP financial measures. Adjusted EBITDA is EBITDA adjusted for stock-based compensation expense. This non-GAAP financial measure is not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP, and should be viewed in conjunction with GAAP financial measures. Investors are encouraged to review the reconciliation of this non-GAAP measure to its most directly comparable GAAP financial measure. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables included as part of this press release.

About Myomo

Myomo, Inc. is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper-limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered upper-limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of certain patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury or other neuromuscular disease or injury. It is currently the only marketed device in the U.S. that, sensing a patient’s own EMG signals through non-invasive sensors on the arm, can restore an individual’s ability to perform activities of daily living, including feeding themselves, carrying objects and doing household tasks. Many are able to return to work, live independently and reduce their cost of care. Myomo is headquartered in Burlington, Massachusetts, with sales and clinical professionals across the U.S. and representatives internationally. For more information, please visit www.myomo.com.

Forward-Looking Statements

This press release contains forward-looking statements regarding the Company’s future business expectations, including expectations for second quarter and full year 2026 revenue, and operating leverage expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors.

These factors include, among other things:

•our ability to obtain sufficient reimbursement from third-party payers for our products;

•our dependence on external sources for the financing of our operations;

•our ability to scale the business to achieve positive cash flow from operations;

•our revenue concentration with patients who carry Medicare Part B;

•our ability to continue normal operations and patient interactions without supply chain disruption in order to deliver and fit our custom-fabricated devices;

•our marketing and commercialization efforts;

•our ability to obtain and maintain our strategic collaborations and to realize the intended results of such collaborations;

•our expectations as to our product development programs, including improving our existing products and developing new products;

•our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our products;

•our expectations as to our clinical research program and clinical results;

•our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others;

•our ability to gain and maintain regulatory approvals;

•our ability to compete and succeed in a highly competitive and evolving industry; and

•general market, economic, environmental and social factors that may affect the evaluation, fitting, delivery and sale of our products to patients.

More information about these and other factors that potentially could affect our financial results is included in Myomo’s filings with the Securities and Exchange Commission, including those contained in the risk factors section of the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q and other filings with the Commission. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Although the forward-looking statements in this release of financial information are based on our beliefs, assumptions and expectations, taking into account all information currently available to us, we cannot guarantee future transactions, results, performance, achievements or outcomes. No assurance can be made to any investor by anyone that the expectations reflected in our forward-looking statements will be attained, or that deviations from them will not be material or adverse. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contacts:

Myomo:

ir@myomo.com

Alliance Advisors IR:

Vivian Cervantes

vcervantes@allianceadvisors.com

973-873-7724

(Tables follow)

MYOMO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Revenue		$	11,704,565			$	9,652,234			$	21,817,853			$	19,484,048
Cost of revenue			3,262,017				3,600,061				6,473,698				6,822,246
Gross profit			8,442,548				6,052,173				15,344,155				12,661,802
Operating expenses:
Research and development			1,720,463				2,001,331				3,343,623				3,791,355
Selling, clinical and marketing			5,264,090				5,233,885				10,080,849				9,629,689
General and administrative			3,712,481				3,407,277				7,331,221				7,351,332
			10,697,034				10,642,493				20,755,693				20,772,376
Loss from operations			(2,254,486	)			(4,590,320	)			(5,411,538	)			(8,110,574	)
Other expense (income), net
Interest expense (income), net			535,744				(106,549	)			1,040,440				(298,540	)
Change in fair value of derivative liabilities			1,199,726				—				360,662				—
			1,735,470				(106,549	)			1,401,102				(298,540	)
Loss before income taxes			(3,989,956	)			(4,483,771	)			(6,812,640	)			(7,812,034	)
Income tax expense			31,404				148,201				218,119				284,996
Net loss		$	(4,021,360	)		$	(4,631,972	)		$	(7,030,759	)		$	(8,097,030	)
Weighted average number of common shares outstanding:
Basic and diluted			42,697,319				41,582,737				42,484,409				41,518,959
Net loss per share attributable to common stockholders
Basic and diluted		$	(0.09	)		$	(0.11	)		$	(0.17	)		$	(0.20	)

MYOMO, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

		June 30,				December 31,
		2026				2025
		(unaudited)
ASSETS
Current Assets:
Cash and cash equivalents		$	11,219,217			$	14,132,027
Short-term investments			2,233,141				4,261,782
Accounts receivable, net			4,945,509				4,096,327
Inventories			3,169,372				3,123,089
Prepaid expenses and other current assets			2,958,442				1,943,860
Total Current Assets			24,525,681				27,557,085
Restricted cash			575,000				575,000
Operating lease assets with right of use			6,514,020				6,679,349
Equipment, net			1,986,836				2,212,901
Software development costs, net			1,721,532				1,590,864
Other assets			19,185				21,374
Total Assets		$	35,342,254			$	38,636,573
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable and accrued expenses			7,515,613				5,819,767
Current operating lease liability			730,824				494,662
Income taxes payable			586,644				813,260
Deferred revenue			202,580				218,222
Warrant derivative liability			1,127,498				999,418
Current portion long term debt, net of discount of $73,871			446,962				—
Total Current Liabilities			10,610,121				8,345,329
Non-current operating and financing lease liability			7,370,509				7,665,622
Long-term debt, net of discount of $2,437,757			11,532,254				11,222,155
Total Liabilities			29,512,884				27,233,106
Commitments and Contingencies			—				—
Stockholders’ Equity:
Preferred stock			—				—
Common stock			3,953				3,847
Additional paid-in capital			131,326,086				129,929,989
Accumulated other comprehensive income			224,976				164,517
Accumulated deficit			(125,719,181	)			(118,688,422	)
Treasury stock, at cost			(6,464	)			(6,464	)
Total Stockholders’ Equity			5,829,370				11,403,467
Total Liabilities and Stockholders’ Equity		$	35,342,254			$	38,636,573

MYOMO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Six Months Ended June 30,		2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss		$	(7,030,759	)		$	(8,097,030	)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization			676,129				349,240
Stock-based compensation			1,639,913				935,093
Accretion of discount on short-term investments			(73,484	)			(23,383	)
Bad debt expense			—				51,643
Amortization of right-of-use assets			362,699				526,600
Amortization of deferred offering cost			524,479				60,045
Change in fair value of derivative liabilities			360,662				—
Other non-cash charges			96,612				(91,984	)
Changes in operating assets and liabilities:
Accounts receivable			(1,065,154	)			(2,975,272	)
Inventories			174,977				(1,204,740	)
Prepaid expenses and other current assets			(1,032,389	)			(615,940	)
Other assets			—				(130,801	)
Accounts payable and accrued expenses			1,703,910				(531,182	)
Operating lease liabilities			(256,321	)			140,536
Deferred revenue			(15,642	)			25,666
Income taxes payable			(207,400	)			(144,392	)
Tenent improvement allowance			—				183,726
Net cash used in operating activities			(4,141,768	)			(11,542,175	)
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES			1,528,080				(2,653,446	)
CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES			(243,709	)			3,963,494
Effect of foreign exchange rate changes on cash			(55,413	)			100,186
Net change in cash, cash equivalents and restricted cash			(2,912,810	)			(10,131,941	)
Cash, cash equivalents and restricted cash, beginning of period			14,707,027				24,747,373
Cash, cash equivalents and restricted cash, end of period		$	11,794,217			$	14,615,432

MYOMO, INC.

RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA

(unaudited)

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2026				2025				2026				2025
GAAP net loss		$	(4,021,360	)		$	(4,631,972	)		$	(7,030,759	)		$	(8,097,030	)
Adjustments to reconcile to Adjusted EBITDA:
Interest expense (income), net			535,744				(106,549	)			1,040,440				(298,540	)
Depreciation expense			384,539				190,798				676,129				349,240
Stock-based compensation			1,042,665				394,889				1,639,913				935,093
Change in fair value of derivative liabilities			1,199,726				—				360,662				—
Income tax expense			31,404				148,201				218,119				284,996
Adjusted EBITDA		$	(827,282	)		$	(4,004,633	)		$	(3,095,496	)		$	(6,826,241	)

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