Myomo Inc ( (MYO) ) has released its Q1 earnings. Here is a breakdown of the information Myomo Inc presented to its investors.
Myomo, Inc. is a wearable medical robotics company specializing in products that enhance arm and hand function for individuals with neurological disorders and upper-limb paralysis. The company recently announced its financial results for the first quarter of 2025, highlighting significant growth in revenue and patient pipeline expansion.
In the first quarter of 2025, Myomo reported a revenue of $9.8 million, marking a 162% increase from the previous year. The company added a record 700 patients to its pipeline and completed initial training for over 300 Certified Prosthetists Orthotists. Despite challenges with Medicare Advantage plans and social media algorithms, the company saw a rebound in lead flow and pipeline additions by March and April.
Key financial metrics for the quarter included a gross margin of 67.2%, up from 61.2% in the previous year, and a net loss of $3.5 million, which improved from a $3.8 million loss in the first quarter of 2024. The company also noted an increase in operating expenses due to higher payroll and advertising costs, as well as increased research and development spending.
Looking ahead, Myomo’s management anticipates continued revenue growth, expecting second-quarter revenue to be between $9.0 million and $9.5 million, with full-year revenue projected to reach between $50 million and $53 million. The company remains focused on overcoming temporary challenges and scaling its operations to achieve positive cash flow by the fourth quarter of 2025.