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Myomo Inc (MYO)
NYSE MKT:MYO
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.02Last Year’s EPS
-$0.07Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 45.69%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong quarter with record revenues and significant growth in key areas such as Medicare Part B patients and the O&P channel. However, challenges with Medicare Advantage reimbursements and increased operating expenses were notable concerns.Company Guidance
During the Myomo Q3 2024 earnings call, CEO Paul Gudonis highlighted significant growth metrics fueled by the recent inclusion of Medicare Part B coverage for their MyoPro devices. The company achieved record figures in revenue, reaching $9.2 million, marking an 83% increase from the previous year. This was driven by 161 MyoPro units delivered, up 35% year-over-year, with an average selling price of $52,700. Myomo's patient pipeline expanded by 69% with the addition of 645 medically qualified candidates, and the backlog stood at 316 units, representing over $16 million in potential revenue. The company has set strategic objectives to engage more orthotics and prosthetics clinics as distribution channels, resulting in a 21% increase in the pipeline size by the quarter's end. Additionally, Myomo is working on establishing contracts with private payers and has already secured agreements with Blue Cross Blue Shield of Massachusetts and Paradigm, which cover a combined 3 million lives. The company aims to reach operating cash flow breakeven in Q4 2024, with revenue guidance set between $9.5 million and $10.5 million for the quarter.Record Revenue Achieved
Product revenue reached a record $9.2 million, an 83% increase compared to the same period in 2023.
Significant Growth in Medicare Part B Patients
Revenue from Medicare Part B patients accounted for 55% of product revenue, up from 47% in the previous quarter, reflecting successful outreach and education efforts.
Expansion of O&P Channel
Successfully trained over 100 clinicians by the end of the year, surpassing the set goal. O&P channel activity is expected to increase in 2025.
Strong International Revenue
International operations, particularly in Germany, generated a record $1.1 million in revenue, representing 12% of the total.
Backlog and Pipeline Growth
Record backlog of 316 units and a pipeline of 1,263 patients, a 21% increase year-over-year.
Positive Progress with Payers
Entered contracts with Blue Cross Blue Shield of Massachusetts and Paradigm, covering 3 million lives.
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MYO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MYO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $4.18 | $5.02 | +20.10% |
| Aug 06, 2024 | $4.20 | $3.64 | -13.33% |
| May 08, 2024 | $3.93 | $3.56 | -9.41% |
| Mar 07, 2024 | $3.52 | $3.19 | -9.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Myomo Inc (MYO) report earnings?
Myomo Inc (MYO) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Myomo Inc (MYO) earnings time?
Myomo Inc (MYO) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MYO EPS forecast?
MYO EPS forecast for the fiscal quarter 2024 (Q4) is -$0.02.
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