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Myomo Q3 revenue rises 22% to record high

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$0.10

Q3 Operating Expenses

$10.50 mln


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

  • Nov 9 - Orthofix Medical Q3 revenue misses; cuts full-year guidance due to weaker US Spine performance

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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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