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Myomo(MYO) - 2023 Q4 - Annual Report
2024-03-08 02:38
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 (State or other jurisdiction of incorporation or organization) 137 Portland St., 4 Floor, Boston, Massachusetts 02114 (Address of principal executive offices) (Zip Code) th Delaware 47-0944526 (I.R.S. Employer Identification No.) Registrant's telephone number, including ...
Myomo(MYO) - 2023 Q4 - Earnings Call Transcript
2024-03-08 01:10
Myomo, Inc. (NYSE:MYO) Q4 2023 Earnings Conference Call March 7, 2024 4:30 PM ET Company Participants Kim Golodetz - Investor Relations, LHA Paul Gudonis - Chairman & Chief Executive Officer Dave Henry - Chief Financial Officer Conference Call Participants Anthony Vendetti - Maxim Group Edward Woo - Ascendant Capital Ben Haynor - Alliance Global Partners Operator Hello, and welcome to the Myomo Fourth Quarter 2023 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] Please ...
Myomo(MYO) - 2023 Q3 - Quarterly Report
2023-11-07 22:29
Revenue Growth - Product revenue for the three months ended September 30, 2023, was $5,029,523, a 27% increase from $3,968,201 in the same period of 2022[110] - Total revenue for the nine months ended September 30, 2023, reached $14,484,775, reflecting a 26% increase compared to $11,513,702 in the prior year[110] - The company recorded a license revenue of $1,764,920 for the nine months ended September 30, 2023, a 76% increase from $1,000,000 in the previous year[110] Gross Margin and Expenses - Gross margin improved to 68.7% for the three months ended September 30, 2023, up from 66.5% in the same period of 2022[114] - Research and development expenses increased by approximately $26,800, or 4%, for the three months ended September 30, 2023, compared to the same period in 2022[118] - Operating expenses for the nine months ended September 30, 2023, were $15,875,870, a slight decrease of 1% compared to $16,068,330 in the same period of 2022[116] - Selling, general and administrative expenses (SG&A) increased by approximately $30,700, or 1%, during the three months ended September 30, 2023, compared to the same period in 2022[121] Cash Flow and Financial Position - As of September 30, 2023, cash and cash equivalents were $6,911,747, and working capital was approximately $10.3 million[130] - The net cash used in operating activities for the nine months ended September 30, 2023, was $(3,817,019), compared to $(7,769,321) for the same period in 2022[140] - Adjusted EBITDA for the three months ended September 30, 2023, was $(1,658,648), compared to $(2,468,910) for the same period in 2022[129] Strategic Initiatives - The company has submitted six claims to CMS, with five claims already receiving rental payments, indicating progress in reimbursement efforts[107] - A joint venture in China has been established, with a minimum investment commitment of $8 million and up to $20 million over five years[104] - The company plans to continue expanding sales and marketing efforts, particularly in international markets, while developing a pediatric version of the MyoPro[108] Reimbursement Changes - The company expects a change in CMS reimbursement policy to allow lump-sum payments for MyoPro sales starting January 1, 2024, which may improve cash flow[106] - CMS issued a final rule effective January 1, 2024, changing the reimbursement approach for MyoPro from rental to a lump sum[133] Workforce and Cost Management - The company reduced its workforce by approximately 12% in January 2023 as part of cost reduction activities[132] - In August 2023, the company completed a public equity offering generating proceeds of approximately $3.9 million[131] Going Concern - The company believes there is substantial doubt regarding its ability to continue as a going concern due to cash flow uncertainties[131]
Myomo(MYO) - 2023 Q2 - Quarterly Report
2023-08-09 20:18
UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Exact name of Registrant as Specified in its Charter) Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-38109 MYOMO, INC. Delaware 47-0944526 (State or Other Jurisdiction of (I ...
Myomo(MYO) - 2023 Q1 - Earnings Call Transcript
2023-05-11 22:20
Myomo, Inc. (NYSE:MYO) Q1 2023 Results Conference Call May 10, 2023 4:30 PM ET Company Participants Kim Golodetz - Investor Relations, LHA Paul Gudonis - Chief Executive Officer Dave Henry - Chief Financial Officer Conference Call Participants Ben Haynor - Alliance Global Partners Scott Henry - ROTH Capital Jim Sidoti - Sidoti & Company Edward Woo - Ascendant Capital Operator Good afternoon, and welcome to the Myomo First Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. ...
Myomo(MYO) - 2023 Q1 - Quarterly Report
2023-05-10 20:24
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-38109 MYOMO, INC. (Exact name of Registrant as Specified in its Charter) Delaware 47-0944526 (State or Other Jurisdiction of ( ...
Myomo(MYO) - 2022 Q4 - Annual Report
2023-03-13 19:49
Table of Contents m UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-38109 MYOMO, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...
Myomo(MYO) - 2022 Q4 - Earnings Call Transcript
2023-03-13 16:32
Myomo, Inc (NYSE:MYO) Q4 2022 Earnings Conference Call March 13, 2023 10:00 AM ET Company Participants Kim Golodetz - Investor Relations, LHA Paul Gudonis - Chief Executive Officer Dave Henry - Chief Financial Officer Conference Call Participants Jim Sidoti - Sidoti & Company Edward Woo - Ascendiant Capital Ben Haynor - Alliance Global Partners Jeremy Pearlman - Maxim Group Operator Good morning, and welcome to the Myomo, Inc. Fourth Quarter and Full Year 2022 Earnings Conference Call. All participants will ...
Myomo(MYO) - 2022 Q3 - Earnings Call Transcript
2022-11-11 01:08
Myomo, Inc. (NYSE:MYO) Q3 2022 Earnings Conference Call November 10, 2022 4:30 AM ET Company Participants Kim Golodetz - Investor Relations, LHA Paul Gudonis - Chief Executive Officer Dave Henry - Chief Financial Officer Conference Call Participants Ben Haynor - Alliance Global Partners Jim Sidoti - Sidoti & Company Edward Woo - Ascendiant Capital Operator Welcome to the Myomo Incorporated Third Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Af ...
Myomo(MYO) - 2022 Q3 - Quarterly Report
2022-11-10 21:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-38109 MYOMO, INC. (Exact name of Registrant as Specified in its Charter) | | | (State or Other Jurisdiction of (I.R.S. Emp ...