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Dec 31, 2024
Myomo Q4 2024 Earnings Report
Myomo achieved record revenue and positive cash flow in Q4 2024.
Key Takeaways
Myomo's Q4 2024 revenue reached a record $12.1 million, up 154% year-over-year, driven by a higher average selling price and strong demand. The company recognized revenue from 220 MyoPro units and recorded a gross margin of 71.4%. Net loss improved significantly to $0.3 million, and Myomo achieved its first-ever positive quarterly cash flow of $3.4 million. The company ended the quarter with a backlog of 272 units, positioning it for continued growth.
Record revenue of $12.1 million, a 154% increase YoY.
Gross margin improved to 71.4%, up 610 basis points.
Backlog reached 272 units, supporting future revenue growth.
Positive cash flow from operations at $3.4 million, a company first.
Myomo
Myomo
Forward Guidance
Myomo expects revenue growth of 54% to 63% in 2025, with an annual target of $50M to $53M, supported by increased direct billing efforts and expanding reimbursement approvals.
Positive Outlook
- Forecasted FY25 revenue between $50M and $53M.
- Strong backlog and reimbursement pipeline supporting growth.
- Continued expansion of direct billing and Medicare reimbursements.
- Cost efficiencies expected to drive higher margins and profitability.
- Positive cash flow from operations expected to continue by Q4 2025.
Challenges Ahead
- Potential reimbursement delays affecting revenue recognition.
- Seasonal revenue impact expected in Q1 2025.
- Ongoing investment in scaling operations could pressure short-term profitability.
- Dependence on Medicare approvals for continued growth.
- Competitive landscape in the medical robotics sector remains strong.