Myomo Q4 revenue $4.8M (+18% YoY), backlog record 230 units, guides FY2024 rev $28M-$30M

MYOMO, INC.

Q4 product revenue $4.756M (+18% YoY); recognized 107 MyoPro units (+6%).
Net loss $2.5M ($0.07/shr) vs $2.2M ($0.29/shr) in Q4 2022; adjusted EBITDA -$2.1M.
Record backlog 230 units (+40% YoY), including 44 Medicare Part B patients receiving rental payments or qualified.
Q1 2024 revenue guidance $4.1M-$4.3M; full year 2024 revenue target $28M-$30M with operating cash flow breakeven targeted by Q4.
CMS finalized HCPCS fees for MyoPro codes L8701 ($33,480.90) and L8702 ($65,871.74) effective April 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MYOMO, INC. reported the three months and year ended December 31, 2023 results: revenue $4.8 million, net income $0.07 per share. Guidance initiated.

Period: the three months and year ended December 31, 2023
Revenue: $4.8 million
Net income: $0.07 per share
Guidance: initiated
Result: reported results

Exact text from the filing

by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Myomo Reports Fourth Quarter and Full Year 2023 Financial Results Q4 total revenue of $4.8 million, up 18% over the prior year Addition of Medicare Part B patients to backlog results in record 183 MyoPro orders and insurance authorizations received in Q4, up 87% over the prior

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MYOMO, INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-027949

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