MYOMO, INC. MYO
We are a wearable medical robotics company that offers functional improvement for those with neuromuscular disorders and upper limb paralysis. We develop and market the MyoPro product line. A MyoPro is a myoelectric-controlled upper limb brace, or orthosis. The orthosis is a rigid brace used for the purpose of supporting a patient's weak or paralyzed arm to enable and help improve functional activities of daily living, or ADLs, in the home and community. It is custom-fabricated by trained professionals during a custom fabrication process for each individual user to meet their specific needs. Our products are designed to help improve function in adults and adolescents with neuromuscular conditions due to brachial plexus injury, stroke, traumatic brain injury, spinal cord injury and other neurological disorders. We primarily provide devices directly to patients and bill their insurance companies directly, a sales channel we refer to as direct billing. Under direct billing, we evaluate, measure and fit the MyoPro devices using our own clinical staff or as circumstances dictate, utilize the clinical consulting services of orthotics and prosthetics, or O&P. We also sell our products through various other sales channels, including through O&P providers, which we expect to be a larger contributor to revenue in the future, the Veterans Administration, or VA, and to certain accounts and geographic markets outside the United States. We operate as one business segment.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $40.9M | $32.6M | $19.2M | $15.6M | $13.9M | $7.6M | $3.8M | $2.4M | $1.6M | $1.1M |
| Cost of revenue | $14.0M | $9.4M | $6.1M | $5.3M | $3.5M | $2.6M | $1.4M | $728.3K | $505.3K | $282.2K |
| Gross profit | $26.9M | $23.2M | $13.2M | $10.3M | $10.3M | $5.0M | $2.4M | $1.7M | $1.1M | $821.1K |
| R&D | $6.9M | $4.8M | $2.6M | $2.5M | $2.6M | $1.7M | $1.7M | $1.8M | $1.8M | $1.1M |
| SG&A | $14.0M | $12.4M | $9.7M | $18.4M | $18.0M | $13.8M | $11.5M | $10.4M | $5.8M | $3.0M |
| Total operating expenses | $41.3M | $29.4M | $21.4M | $20.9M | $20.6M | $15.5M | $13.2M | $12.2M | $7.6M | $4.1M |
| Operating income | -$14.4M | -$6.2M | -$8.2M | -$10.7M | -$10.3M | -$10.5M | -$10.8M | -$10.5M | -$6.5M | -$3.3M |
| Pre-tax income | -$15.1M | -$5.8M | -$8.0M | -$10.7M | -$10.3M | -$11.6M | — | — | -$12.1M | -$3.6M |
| Income tax | $504.5K | $365.6K | $156.0K | $69.9K | $88.9K | — | — | — | $0 | $0 |
| Net income | -$15.6M | -$6.2M | -$8.1M | -$10.7M | -$10.4M | -$11.6M | -$10.7M | -$10.3M | -$12.1M | -$3.6M |
| EPS, basic | -0.37 | -0.16 | -0.28 | -1.52 | -1.89 | — | — | — | — | — |
| EPS, diluted | -0.37 | -0.16 | -0.28 | -1.52 | -1.89 | -3.67 | -20.79 | -25.18 | -2.93 | -4.13 |
| Shares, diluted (wtd. avg.) | 41.9M | 37.8M | 29.5M | 7.1M | 5.8M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $14.1M | $24.4M | $6.9M | $5.3M | $15.5M | $12.2M | $4.5M | $6.5M | $13.0M | $797.2K |
| Short-term investments | $4.3M | $493.0K | $2.0M | $0 | — | — | — | — | — | — |
| Receivables | $4.1M | $3.8M | $2.4M | $1.9M | $2.0M | $924.9K | $424.3K | $382.3K | $297.0K | $114.5K |
| Inventory | $3.1M | $3.2M | $1.8M | $1.4M | $808.3K | $707.1K | $439.5K | $256.1K | $201.2K | $82.4K |
| Total current assets | $27.6M | $32.8M | $13.7M | $9.2M | $19.1M | $14.4M | $6.1M | $7.9M | $13.8M | $1.1M |
| Property, plant and equipment | $2.2M | $1.3M | $175.8K | $194.3K | $275.3K | $95.0K | $155.0K | $187.5K | $77.2K | $21.6K |
| Total assets | $38.6M | $42.2M | $14.6M | $10.2M | $20.1M | $14.7M | $6.6M | $8.3M | $14.0M | $1.7M |
| Accounts payable | $5.8M | $9.0M | $4.9M | $3.2M | $3.9M | $2.8M | $1.7M | $1.7M | — | — |
| Short-term debt | $3.0M | $3.0M | — | — | — | — | $1.8M | — | — | — |
| Total current liabilities | $8.3M | $10.2M | $5.5M | $3.6M | $4.3M | $2.9M | $3.9M | $1.9M | $1.5M | $3.0M |
| Long-term debt | $11.2M | $0 | — | — | — | — | $889.0K | — | — | — |
| Total liabilities | $27.2M | $17.5M | $5.6M | $3.8M | $4.7M | $3.1M | $4.8M | $1.9M | $1.5M | $6.5M |
| Retained earnings | -$118.7M | -$103.1M | -$96.9M | -$88.8M | -$78.1M | -$67.7M | -$56.1M | -$45.3M | -$35.0M | -$22.9M |
| Total equity | $11.4M | $24.7M | $9.0M | $6.4M | $15.4M | $11.6M | $6.4M | $6.4M | $12.4M | -$17.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$14.5M | -$3.3M | -$6.2M | -$10.2M | -$9.5M | -$9.0M | -$10.3M | -$9.6M | -$6.2M | -$3.2M |
| Depreciation and amortisation | $859.4K | $205.9K | $164.3K | $192.8K | $146.0K | $105.4K | $95.1K | $69.7K | $11.4K | $7.7K |
| Stock-based compensation | $2.1M | $874.4K | $1.1M | $1.2M | $1.1M | $614.3K | $908.0K | $814.7K | $279.5K | $94.1K |
| Capital expenditure | $1.7M | $1.4M | $145.8K | $111.8K | $326.5K | $45.8K | $52.0K | $126.9K | $67.0K | $1.9K |
| Investing cash flow | -$7.1M | $260.0K | -$2.0M | -$310.8K | -$326.5K | -$45.8K | -$52.0K | -$126.9K | -$67.0K | -$1.9K |
| Financing cash flow | $11.4M | $20.9M | $9.7M | $376.9K | $13.2M | $16.8M | $8.3M | $3.3M | $18.4M | $3.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-223981.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M | $1.6M | $2.4M | $3.8M | $7.6M | $13.9M | $15.6M | $19.2M | $32.6M | $40.9M |
| Gross profit | $821.1K | $1.1M | $1.7M | $2.4M | $5.0M | $10.3M | $10.3M | $13.2M | $23.2M | $26.9M |
| Net income | -$3.6M | -$12.1M | -$10.3M | -$10.7M | -$11.6M | -$10.4M | -$10.7M | -$8.1M | -$6.2M | -$15.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Item 5.02
- Charter or fiscal year changed Item 5.03
- Shareholder vote Item 5.07
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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