Myomo reports Q2 EPS (4c), consensus (3c)

Reports Q2 revenue $6.0M, consensus $5.6M. “We continued our solid execution in the second quarter, with year over year improvement in all of our key operational metrics,” stated Paul R. Gudonis, CEO. “Our focus for the rest of the year is to continue to grow the business, while managing our operating expenses and building a pipeline of Medicare Part B patients in anticipation of being able to fit them with their own MyoPro, potentially within the next six to 12 months. That effort began during the second quarter. Additionally, our Chinese joint venture partner is moving quickly to launch its business development efforts, establish manufacturing and build the supply chain. We received initial orders from the JV company for MyoPro Control Units, which are a core component of the MyoPro product line, and our MARK clinical units for approximately $300,000 in total. The JV company is getting ready to produce the clinical version of our product line, which they expect to supply to rehab hospitals throughout China.”