Myomo Q3 revenue rises 22% to record high

Overview

• Wearable medical robotics firm's Q3 revenue rose 22% yr/yr to record level

• Company achieved breakeven adjusted EBITDA for Q3

• Company narrowed full-year revenue guidance to $46-47 mln, upper end of prior range

Outlook

• Myomo narrows 2026 revenue guidance to $46-47 mln, upper half of prior range

• Company reiterates full-year operating leverage expectation

• Company expects cash burn below $2 mln in H2 2026

Result Drivers

• RECURRING PATIENT SOURCES - Co said shift to recurring patient sources drove revenue growth, with referrals from provider networks and VA rising to 54% of Q3 revenue

• HIGHER UNIT VOLUME AND PRICES - Co attributed revenue growth to 19% increase in revenue units and 2% rise in average selling price

• MATERIAL COST REDUCTIONS - Co said gross margin expansion was driven by material cost reductions and improved fixed cost absorption from higher volume

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for Myomo Inc is $3.00, about 147.9% above its November 6 closing price of $1.21

Reuters Recommended Reads

• Nov 9 - Medical tech firm NeurAxis' Q3 revenue jumps on broader insurance coverage

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• Nov 9 - Heron Therapeutics Q3 net revenue falls 7.8%, to sell all assets to CorMedix

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)