Myomo Q2 revenue up 62% to $6.0M; net loss narrows to $1.0M

MYOMO, INC.

2023-Q2 EPS reported -$0.14 revenue$9,405,252

Product revenue $4.2M (+15% YoY); revenue units 97 (+21%). Total revenue includes $1.7M JV license fee.
Gross margin 71.8% vs 65.3%; net loss $1.0M ($0.04/sh) vs $2.9M loss ($0.42/sh) YoY.
Patient pipeline 969 candidates (+27%); 408 new candidates added in Q2 (+57%).
CMS proposed rule may expand brace definition to include MyoPro; Medicare Part B reimbursement anticipated in 6-12 months.
Outlook: modest Q3 YoY growth; full-year product revenue growth target of 20-30% dependent on authorizations.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MYOMO, INC. reported the second quarter ended June 30, 2023 results: revenue $6.0 million.

Period: the second quarter ended June 30, 2023
Revenue: $6.0 million
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Myomo Reports Second Quarter 2023 Financial Results Featuring Year Over Year Growth in Revenue and Operating Metrics Q2 revenue of $6.0 million, including license revenue Nearly 1,000 prospective MyoPro® candidates with known payers in the patient pipeline Begins to build Medicare Part B patient pipeline following

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Source: SEC EDGAR

accession 0000950170-23-040584

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