Myomo reports Q1 EPS (10c), consensus (10c)

Reports Q1 revenue $3.8M, consensus $4.07M. “First quarter revenue reflects our focus on patients with traditional insurers with a history of payment, while temporarily accepting lower pricing from CMS’ billing contractors known as the DME MACs. We expect growth to increase during the second quarter as we ship MyoPros to Medicare Part B beneficiaries following the publication of reimbursement fees by the Centers for Medicare and Medicare Services (“CMS”) on April 1, 2024,” said Paul R. Gudonis, Myomo’s chairman and chief executive officer. “Our record backlog entering the second quarter includes 83 Medicare Part B patients, which will contribute to our expected revenue growth in the quarter.”