Loading...
•
Dec 31, 2021
Myomo Q4 2021 Earnings Report
Myomo reported a 6% increase in fourth-quarter revenue and a gross margin of 77.4%.
Key Takeaways
Myomo, Inc. reported a 6% increase in revenue for the fourth quarter of 2021, reaching $4.0 million. The company's gross margin also improved to 77.4%.
Revenue was $4.0 million, up 6% as the Company successfully managed reimbursement and supply chain challenges during the quarter
Gross margin was 77.4%, up 400 basis points
Backlog increased 18% to 154 units
The reimbursement pipeline as of December 31, 2021 consisted of 808 MyoPro candidates
Myomo
Myomo
Forward Guidance
Myomo expects to generate continued year-over-year revenue growth for 2022. For the first quarter, the company expects product revenue to be in the range of $2.6 million to $3.0 million, an increase of 11% to 28% over the prior-year quarter.
Positive Outlook
- Expects to generate continued year-over-year revenue growth for 2022
- Product revenue for Q1 2022 expected to be between $2.6 million and $3.0 million
- Q1 2022 revenue expectation represents an increase of 11% to 28% over the prior-year quarter