Business Wire·Nov 9, 2026, 4:05 PM ET

Myomo Reports Third Quarter 2026 Financial and Operating Results

MYO

Myomo reported record third-quarter revenue of $12.3 million, representing a 22% year-over-year increase.
54% of third-quarter revenue originated from recurring patient sources, up from 33% in the prior year period.
The company narrowed its full-year revenue guidance to $46-47 million, positioned at the upper end of the previous range.
Myomo achieved breakeven Adjusted EBITDA for the quarter while sequentially reducing cash burn.
Gross margin expanded by 750 basis points year-over-year to 71.3%, driven by higher average selling prices & lower material costs.
Operating expenses increased 6% year-over-year, primarily due to higher research & development spending & general administrative costs.
The MyoConnect program now includes over 500 referral locations across the U.S.
Mary-Katherine McClure joined as Chief Commercial Officer in October to lead go-to-market strategy expansion.
New payer contracts covering an additional 35 million lives are in progress, with Medicaid enrollments completed in seven states.
The randomized controlled trial at the University of Utah has enrolled 35 of 50 planned subjects.
Order rates reached a record 258 units in the quarter, a 13% year-over-year increase, with an average selling price of approximately $55,500.
Cash, cash equivalents, & short-term investments totaled $11.9 million as of September 30, 2026.
Net loss for the quarter was $4.2 million, or $0.10 per share, including a $1.8 million non-cash charge for derivative liabilities.
Myomo expects cash burn to remain under $2 million during the second half of 2026.
A conference call to discuss results is scheduled for 4:30 p.m. Eastern time on September 11, 2026.