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Myomo Inc. (MYO) is a pioneering company in the field of wearable medical robotics, dedicated to enhancing the quality of life for individuals with neuromuscular disorders. The company specializes in the development, design, and production of myoelectric orthotics, with its flagship product being the MyoPro myoelectric upper limb orthosis. This device is designed to help individuals with paralysis or weakened muscles regain functional use of their arms and hands.
Registered with the Food and Drug Administration (FDA) as a Class II medical device, the MyoPro orthosis assists users in performing daily activities, thereby improving their independence and overall quality of life. Myomo's mission is to enable individuals to overcome their paralysis through innovative solutions and support services.
Myomo collaborates with healthcare professionals to ensure high-quality outcomes and patient satisfaction. These partnerships are strengthened through ongoing research collaborations and continuing education programs. The company supplies its devices to patients across the globe, including partnerships with orthotics and prosthetics providers and the Veterans Health Administration (VA). Notably, Myomo also handles insurance billing directly, easing the financial process for patients.
In recent achievements, Myomo has continued to expand its market presence and enhance its product offerings. Through strategic partnerships and a commitment to research and development, the company remains at the forefront of medical innovation. Myomo's dedication to reducing healthcare costs while improving patient outcomes underscores its significance in the medical field.
For those seeking the latest updates and relevant information about Myomo's performance, ongoing projects, and recent developments, staying informed through reliable news sources is essential.
Myomo, Inc. (NYSE American: MYO) reported third quarter 2022 revenue of $4.0 million, reflecting an 8% sequential increase despite a 9% decline year-over-year. The company achieved a record backlog of 184 units with 130 new patient authorizations, up 27% sequentially. Gross margin for the quarter was 66.5%, a decrease of 820 basis points from last year. Operating loss increased to $2.8 million. The company expects modest sequential growth in product revenue for Q4 and a larger pipeline entering 2023.
Myomo, Inc. (NYSE American: MYO) announced it will report financial results for the three and nine months ended September 30, 2022, on
Myomo, Inc. (NYSE American: MYO) will present at the Microcap Rodeo conference on October 12, 2022, at 9:30 a.m. Central time. Paul Gudonis, Myomo's CEO, will lead the presentation, which will be available via live webcast. This event will take place in Chicago, featuring 60 microcap companies and valuable insights for investors. One-on-one meetings can be scheduled, and registration is encouraged for attendees. Myomo specializes in wearable medical robotics, particularly the MyoPro device that assists those with upper limb paralysis.
Myomo, Inc. (NYSE American: MYO), a company specializing in wearable medical robotics, is set to present at the H.C. Wainwright 24th Annual Global Investment Conference from September 12 to 14 in New York City. The CEO, Paul Gudonis, and CFO, David Henry, will participate virtually. A webcast of their presentation will be available on-demand starting September 12, 2022, at 7:00 a.m. Eastern time. Myomo develops MyoPro, a powered upper limb orthosis aimed at restoring function for patients with neurological disorders and paralysis, improving daily living activities.
Myomo, a company focused on wearable medical robotics, has received a
Myomo reported a Q2 2022 revenue of $3.7 million, up 18% year-over-year, driven by a higher average selling price. The patient pipeline reached a record 1,049 candidates, marking a 52% increase. However, gross margin fell to 65.5%, down 550 basis points from last year, due to increased product costs. Despite these results, Myomo expects sequential growth in future quarters, though year-over-year revenue may decline in Q3 due to market conditions.
Myomo, Inc. (AMEX:MYO) will report its financial results for the three and six months ended
Myomo, Inc. (AMEX: MYO) announced preliminary revenue for Q2 2022, expected between
Myomo, Inc. (AMEX:MYO), a wearable medical robotics company, announced that CEO Paul Gudonis and CFO David Henry will present a business update at the Sidoti Summer Small Cap Conference on June 15, 2022, at 4:00 p.m. ET. Investors can access the presentation here. Additionally, one-on-one investor meetings will be held on June 15 and 16, 2022. A replay of the presentation will also be available.
Myomo reported a 66% increase in total revenue for Q1 2022, reaching $3.9 million, driven by a 23% rise in product revenue to $2.9 million. The company achieved a gross margin of 66.7%, despite a decline from the previous year due to increased deliveries and costs. The backlog of units awaiting insurance authorization rose by 36% to 160 units. Myomo's pipeline now includes 924 MyoPro candidates, reflecting a 62% increase from Q4 2021. Looking ahead, Myomo anticipates continued growth in product revenues for the year.
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