Myomo Reports Record Revenue and Positive Cash Flow

Myomo Inc ( (MYO) ) has released its Q4 earnings. Here is a breakdown of the information Myomo Inc presented to its investors.

Myomo, Inc. is a wearable medical robotics company specializing in devices that enhance arm and hand functionality for individuals with neurological disorders and upper-limb paralysis. In its latest earnings report, Myomo announced record revenue of $12.1 million for the fourth quarter of 2024, marking a 154% increase from the previous year. The company also achieved its first-ever positive quarterly cash flow from operations.

Key financial highlights include a 106% increase in revenue units, a gross margin improvement to 71.4%, and a significant reduction in cost per pipeline add by 46%. The company saw a 27% rise in orders and insurance authorizations, with a total of 233 MyoPro units ordered. Additionally, Myomo expanded its patient pipeline by 72%, adding 657 new candidates.

For the full year, Myomo reported a 69% increase in revenue, reaching $32.6 million, and improved its operating loss from $8.2 million in 2023 to $6.2 million in 2024. The company also reported a net loss reduction from $8.1 million to $6.2 million year-over-year. Myomo’s cash position strengthened significantly, with cash and equivalents reaching $24.9 million by the end of 2024.

Looking ahead, Myomo’s management is optimistic about continued growth, projecting 2025 revenue between $50 million and $53 million. The company aims to maintain positive cash flow from operations on a quarterly basis by the end of 2025, driven by strategic investments and scaling efforts.