Myomo Q3 revenue rises 22%; net loss reaches $4.2M

The University of Utah randomized controlled trial had enrolled 35 of its planned 50 subjects.

Available on EDGAR 11/09/2026 - 04:10 PM EST Accepted by SEC EDGAR 11/09/2026 - 04:10 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Myomo, Inc. reported third-quarter 2026 revenue of $12.3 million, up 22% year over year, and gross margin of 71.3%, compared with 63.8%. Recurring patient sources accounted for 54% of revenue, versus 33% a year earlier, and the company recorded 258 orders, up 13% year over year.

Operating expenses increased 6% to $10.5 million, while operating loss was $1.7 million versus $3.5 million a year earlier. The company described Adjusted EBITDA as breakeven; its reconciliation lists a loss of $1,513, compared with a loss of $2.7 million. Net loss was $4.2 million, including a $1.8 million noncash charge related to the fair value of derivative liabilities, versus $3.7 million.

Myomo updated its full-year 2026 revenue guidance to $46 million-$47 million, describing it as the upper half of the prior range, and continued to expect second-half cash burn below $2 million. Cash, cash equivalents and short-term investments totaled $11.9 million as of September 30, 2026; operating cash use was $1.3 million for the quarter, compared with $1.8 million a year earlier. MyoConnect referrals have come from more than 500 rehabilitation facilities and therapy centers.

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Positive

• Moderate pointThird-quarter revenue rose 22% to $12.3 million year over year.
• Moderate pointGross margin increased to 71.3% from 63.8% year over year.
• Moderate pointAdjusted EBITDA was -$1,513, compared with -$2.7 million a year earlier.
• Minor pointOperating cash use declined to $1.3 million from $1.8 million.

Negative

• Moderate pointNet loss rose to $4.2 million, including a $1.8 million noncash derivative charge. 3.8% of market cap

Filing Explained

At September 30, 2026, Myomo reported $11.9 million in cash and short-term investments, alongside $1,787,848 of current debt and $11,654,570 of long-term debt; its balance sheet therefore shows liquidity alongside debt obligations, including a current portion.

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, or exhibit attachments filed with this report.

Key Figures

Revenue: $12.3 million Revenue from recurring patient sources: 54% Gross margin: 71.3% +5 more

8 metrics

Revenue $12.3 million Third quarter 2026; up 22% year over year

Revenue from recurring patient sources 54% Third quarter 2026, compared with 33% in third quarter 2025

Gross margin 71.3% Third quarter 2026, compared with 63.8% in third quarter 2025

Net loss $4.2 million Third quarter 2026, compared with $3.7 million in third quarter 2025

Adjusted EBITDA -$1,513 Third quarter 2026; the reconciliation lists -$2.7 million for third quarter 2025

Full-year revenue guidance $46 million-$47 million 2026 guidance, described as the upper half of the prior range

Cash, cash equivalents and short-term investments $11.9 million As of September 30, 2026

Cash used in operating activities $1.3 million Third quarter 2026, compared with $1.8 million in third quarter 2025

Key Terms

Adjusted EBITDA, gross margin, average selling price, mark-to-market, +1 more

5 terms

Adjusted EBITDA financial

"breakeven Adjusted EBITDA in the third quarter"

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 third quarter of 2026 was 71.3%"

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.

average selling price financial

"Average selling price (“ASP”) was approximately $55,500"

The average selling price is the mean price a company receives for its products or services over a given period, calculated by dividing total sales value by the number of units sold. Like averaging the price you paid for apples across several trips, it helps investors see whether a business is raising or cutting prices, shifting toward higher- or lower-priced items, and how those changes are likely to affect revenue and profit margins.

mark-to-market financial

"charge of $1.8 million for the mark-to-market of our derivative liabilities"

"Mark-to-market" is a method of valuing assets or investments based on their current market price, rather than their original cost or value. It helps investors see the most up-to-date worth of their holdings, much like checking the latest price of a stock before deciding to buy or sell. This approach ensures that financial statements reflect real-time value, providing a clearer picture of overall financial health.

randomized controlled trial medical

"The randomized controlled trial underway at the University of Utah"

A randomized controlled trial is a research method that tests the effects of a new idea or treatment by randomly dividing participants into two groups: one that receives the treatment and one that does not. This approach helps ensure that the results are fair and unbiased, providing clear evidence about whether the treatment actually works. Investors value such trials because they offer reliable information that can influence decision-making and reduce uncertainty.

Earnings Snapshot

Revenue: $12.3 million · Guidance included

Third quarter ended September 30, 2026

Revenue $12.3 million +22% year over year

Gross margin 71.3% Increased 750 basis points year over year

Net loss $4.2 million Compared with $3.7 million in third quarter 2025

Adjusted EBITDA -$1,513 Compared with -$2.7 million in third quarter 2025

Guidance

Full-year 2026 revenue guidance of $46 million-$47 million, described as the upper half of the prior range; the company continued to expect second-half cash burn of less than $2 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was MYO's third-quarter 2026 revenue?

MYO reported third-quarter revenue of $12.3 million, up 22% year over year. It recognized revenue on 222 MyoPro units, while average selling price was approximately $55,500, up 2% from the prior year.

What is MYO's 2026 revenue guidance?

Myomo updated full-year 2026 revenue guidance to $46 million-$47 million, describing it as the upper half of the previously raised range. The company also continued to expect second-half 2026 cash burn of less than $2 million.

How many locations have referred patients through MYO's MyoConnect program?

MyoConnect has obtained referrals from more than 500 rehabilitation facilities and therapy centers since the program began a year ago.

How many subjects have enrolled in MYO's University of Utah trial?

The randomized controlled trial at the University of Utah had enrolled 35 of its planned 50 subjects.

How many lives are covered by MYO's payer contracts in progress?

New payer contracts in progress cover an additional 35 million lives. Myomo also reported completed Medicaid enrollments in seven states, with additional states in progress.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0001369290false00013692902026-11-092026-11-09

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): November 9, 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 November 9, 2026, Myomo, Inc, (the "Company") announced its financial results for the third quarter ended September 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 November 9, 2026, furnished herewith.
104		The cover page from the Company’s Form 8-K dated November 9, 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:	November 9, 2026	By:	/s/ David A. Henry
			David A. Henry Chief Financial Officer

Exhibit 99.1

Myomo Reports Third Quarter 2026 Financial and Operating Results

Record revenue of $12.3 million, increased 22% year over year

Progress on four success pillars, including 54% of revenue from recurring patient sources

Narrowing full-year revenue guidance to $46-47 million, at the upper end of previous guidance

Conference call begins at 4:30pm Eastern time today

BURLINGTON, Mass. (November 9, 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 nine months ended September 30, 2026.

“The focus on our four success pillars helped deliver record revenue and solid operating leverage in the quarter, resulting in breakeven Adjusted EBITDA and sequentially lower cash burn", said Paul R. Gudonis, Chairman and Chief Executive Officer of Myomo. “Third quarter revenue places us on track to achieve the midpoint or better of our raised guidance from last quarter. In addition, I am pleased to report that our MyoConnect program now exceeds 500 referral locations in the U.S., helping to drive revenue from recurring sources.”

Success Pillar Accomplishments:

•Shift to Recurring Patient Sources: 54% of third 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 33% in the third quarter of 2025. The Company's MyoConnect program has obtained referrals from more than 500 rehabilitation facilities and therapy centers since its inception a year ago.

•Added New Chief Commercial Officer: Mary-Katherine (“Katie”) McClure joined the Company in October as Chief Commercial Officer to lead this evolution of the Company’s go-to-market strategy and expand the network of recurring patient sources. Ms. McClure was previously a sales executive at Inspire Medical, where she grew sales in her territories from $2 million to $150 million during her tenure. Her initial focus is on organizing and building the Company’s commercial operations team to drive additional revenue growth.

•Increase Market Access with Additional Payer Contracts: New payer contracts are in progress covering an additional 35 million lives. In addition, we have completed Medicaid enrollments in seven states, with additional states in progress.

•Demonstrate Operating Leverage: Revenues increased 22% year-over-year, while operating expenses increased by 6%. In addition, gross margin expanded by 750 basis points year-over year, contributing to breakeven Adjusted EBITDA in the third quarter.

•Invest in Product Development and Clinical Research: The randomized controlled trial underway at the University of Utah has enrolled 35 of a planned 50 subjects. Additions to our mobility robotics platform, including the MyoPro3 and the hand-only product for the German market, continued to make progress in the quarter.

Results of Key Operating Metrics:

•Expanded in-network access and higher quality patient referrals improved order rates, resulting in a record 258 orders in the third quarter, an increase of 13% year over year.

•Added 600 patients to the pipeline in the third quarter, with 18% generated by MyoConnect direct billing referrals.

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

Financial Results

	For the Three Months Ended September 30,						Period- to-Period Change						For the Nine Months Ended September 30,						Period- to-Period Change
	2026			2025			$			%			2026			2025			$			%
Revenue	$	12,330,517		$	10,090,699		$	2,239,818			22	%	$	34,148,370		$	29,574,746			4,573,624			15	%
Cost of revenue		3,540,423			3,648,451			(108,028	)		(3	)%		10,014,121			10,470,696			(456,575	)		(4	)%
Gross profit	$	8,790,094		$	6,442,248		$	2,347,846			36	%	$	24,134,249		$	19,104,050		$	5,030,199			26	%
Gross margin %		71.3	%		63.8	%					7.5	%		70.7	%		64.6	%					6.1	%

Revenue: Revenue for the third quarter of 2026 was $12.3 million, up 22% compared with the third quarter of 2025, reflecting a 19% increase in the number of revenue units, combined with a 2% increase in ASP. Myomo recognized revenue on 222 MyoPro units in the quarter.

Gross Margin: Gross margin for the third quarter of 2026 was 71.3%, compared with 63.8% for the third quarter of 2025. The increase was driven primarily by the higher ASP, the impact of material cost reductions and higher volume, which improved the absorption of fixed costs, partially offset by higher clinical costs classified to cost of goods sold.

Operating Expenses: Operating expenses for the third quarter of 2026 were $10.5 million, an increase of 6% compared with the third quarter of 2025. The increase was primarily due to higher research and development spending resulting from the randomized controlled trial at the University of Utah and higher general and administrative expenses, driven by higher payroll and legal expense.

Operating and Net Loss: Operating loss for the second quarter of 2026 was reduced by half to $1.7 million, compared with an operating loss of $3.5 million for the third quarter of 2025. Net loss, including a non-cash charge of $1.8 million for the mark-to-market of our derivative liabilities, was $4.2 million, or $0.10 per share for the third quarter of 2026, compared with $3.7 million, or $0.09 per share, for the third quarter of 2025.

Adjusted EBITDA: The Company generated breakeven Adjusted EBITDA for the third quarter of 2026, compared with a loss of $2.7 million for the third quarter of 2025. 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 September 30, 2026, were $11.9 million. Cash used in operating activities was $1.3 million for the third quarter of 2026, compared with $1.8 million in the third quarter of 2025. The change in cash, cash equivalents and short-term investments in the third quarter of 2026 was a decrease of $1.5 million.

Business Outlook

"We raised our full year revenue guidance last quarter, and today we are updating that revenue guidance to be in the upper half of that range,” aid Mr. Gudonis. "We also reiterate our full year operating leverage expectation, and we continue to 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 https://ir.myomo.com/.

A replay of the webcast will be available beginning approximately one hour after the completion of the live conference call at https://ir.myomo.com/. A dial-in replay of the call will be available until November 23, 2026 at 855-669-9658 (U.S./Canada toll-free) or 412-317-0088 (International), with passcode 9817088.

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 full year 2026 revenue and operating leverage, and cash burn in the second half of 2026, 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								Nine Months Ended
		September 30,								September 30,
		2026				2025				2026				2025
Revenue		$	12,330,517			$	10,090,699			$	34,148,370			$	29,574,746
Cost of revenue			3,540,423				3,648,451				10,014,121				10,470,696
Gross profit			8,790,094				6,442,248				24,134,249				19,104,050
Operating expenses:
Research and development			1,809,544				1,527,660				5,153,167				5,319,015
Selling, clinical and marketing			5,119,483				5,254,246				15,200,332				14,883,936
General and administrative			3,584,631				3,177,856				10,915,852				10,529,188
			10,513,658				9,959,762				31,269,351				30,732,139
Loss from operations			(1,723,564	)			(3,517,514	)			(7,135,102	)			(11,628,089	)
Other expense (income), net
Interest expense (income), net			559,772				9,743				1,600,212				(288,797	)
Change in fair value of derivative liabilities			1,845,549				—				2,206,211				—
			2,405,321				9,743				3,806,423				(288,797	)
Loss before income taxes			(4,128,885	)			(3,527,257	)			(10,941,525	)			(11,339,292	)
Income tax expense			103,874				135,658				321,993				420,654
Net loss		$	(4,232,759	)		$	(3,662,915	)		$	(11,263,518	)		$	(11,759,946	)
Weighted average number of common shares outstanding:
Basic and diluted			43,570,260				42,168,120				42,850,337				41,737,724
Net loss per share attributable to common stockholders
Basic and diluted		$	(0.10	)		$	(0.09	)		$	(0.26	)		$	(0.28	)

MYOMO, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

		September 30,				December 31,
		2026				2025
		(unaudited)
ASSETS
Current Assets:
Cash and cash equivalents		$	11,099,159			$	14,132,027
Short-term investments			847,027				4,261,782
Accounts receivable, net			5,922,058				4,096,327
Inventories			3,096,156				3,123,089
Prepaid expenses and other current assets			2,534,715				1,943,860
Total Current Assets			23,499,115				27,557,085
Restricted cash			575,000				575,000
Operating lease assets with right of use			6,328,660				6,679,349
Equipment, net			1,734,570				2,212,901
Software development costs, net			1,651,534				1,590,864
Other assets			15,997				21,374
Total Assets		$	33,804,876			$	38,636,573
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable and accrued expenses			6,856,572				5,819,767
Current operating lease liability			835,026				494,662
Income taxes payable			879,505				813,260
Deferred revenue			139,094				218,222
Warrant derivative liability			1,772,084				999,418
Current portion long term debt, net of discount of $295,486			1,787,848				—
Total Current Liabilities			12,270,129				8,345,329
Non-current operating and financing lease liability			7,129,485				7,665,622
Long-term debt, net of discount of $1,994,528			11,654,570				11,222,155
Total Liabilities			31,054,184				27,233,106
Commitments and Contingencies			—				—
Stockholders’ Equity:
Preferred stock			—				—
Common stock			4,005				3,847
Additional paid-in capital			132,515,632				129,929,989
Accumulated other comprehensive income			189,459				164,517
Accumulated deficit			(129,951,940	)			(118,688,422	)
Treasury stock, at cost			(6,464	)			(6,464	)
Total Stockholders’ Equity			2,750,692				11,403,467
Total Liabilities and Stockholders’ Equity		$	33,804,876			$	38,636,573

MYOMO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Nine Months Ended September 30,		2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss		$	(11,263,518	)		$	(11,759,946	)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization			1,081,785				596,091
Stock-based compensation			2,956,308				1,519,083
Accretion of discount on short-term investments			(86,917	)			(24,708	)
Bad debt expense			—				155,422
Inventory Reserves			—				32,558
Amortization of right-of-use assets			548,059				714,379
Amortization of deferred offering cost			786,718				91,051
Change in fair value of derivative liabilities			2,206,211				—
Other non-cash charges			(61,004	)			49,924
Changes in operating assets and liabilities:
Accounts receivable			(1,687,600	)			(1,111,217	)
Inventories			7,279				(1,018,876	)
Prepaid expenses and other current assets			(603,735	)			(956,856	)
Other assets			—				6,514
Accounts payable and accrued expenses			1,045,809				(1,899,337	)
Operating lease liabilities			(393,142	)			190,756
Deferred revenue			(79,128	)			51,636
Income taxes payable			94,554				(7,429	)
Net cash used in operating activities			(5,448,321	)			(13,370,955	)
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES			2,847,828				(2,463,748	)
CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES			(370,656	)			3,913,494
Effect of foreign exchange rate changes on cash			(61,719	)			102,394
Net change in cash, cash equivalents and restricted cash			(3,032,868	)			(11,818,815	)
Cash, cash equivalents and restricted cash, beginning of period			14,707,027				24,747,373
Cash, cash equivalents and restricted cash, end of period		$	11,674,159			$	12,928,558

MYOMO, INC.

RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA

(unaudited)

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025
GAAP net loss		$	(4,232,759	)		$	(3,662,915	)		$	(11,263,518	)		$	(11,759,946	)
Adjustments to reconcile to Adjusted EBITDA:
Interest expense (income), net			559,772				9,743				1,600,212				(288,797	)
Depreciation and amortization expense			405,656				246,850				1,081,785				596,091
Stock-based compensation			1,316,395				583,991				2,956,308				1,519,083
Change in fair value of derivative liabilities			1,845,549				—				2,206,211				—
Income tax expense			103,874				135,658				321,993				420,654
Adjusted EBITDA		$	(1,513	)		$	(2,686,673	)		$	(3,097,009	)		$	(9,512,915	)

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