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Myomo(MYO) - 2020 Q1 - Earnings Call Transcript
2020-05-16 03:02
Myomo, Inc. (NYSE:MYO) Q1 2020 Results Conference Call May 14, 2020 4:30 PM ET Company Participants Kim Golodetz - Investor Relations-LHA Paul Gudonis - Chief Executive Officer Dave Henry - Chief Financial Officer Conference Call Participants Scott Henry - ROTH Capital Greg Bogdanski - Dougherty & Company Jim Sidoti - Sidoti And Company Operator Good day and welcome to the Myomo Inc., First Quarter 2020 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After t ...
Myomo(MYO) - 2020 Q1 - Quarterly Report
2020-05-14 20:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) 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 (I.R.S. Employer Incorporation or Organization) Identification No.) One Broadway, 14th Floor, Cambridge, Massachusetts 02142 (Address of ...
Myomo(MYO) - 2019 Q4 - Annual Report
2020-03-13 20:04
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, 2019 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 juri ...
Myomo(MYO) - 2019 Q4 - Earnings Call Transcript
2020-03-12 23:17
Myomo, Inc. (NYSE:MYO) Q4 2019 Earnings Conference Call March 12, 2020 4:15 PM ET Company Participants Kim Golodetz ??? Investor Relations-LHA Paul Gudonis ??? Chief Executive Officer Dave Henry ??? Chief Financial Officer Conference Call Participants Scott Henry ??? ROTH Capital Jim Sidoti ??? Sidoti and Company Ed Woo ??? Ascendiant Capital Jacob Barrie ??? Dougherty & Company Operator Good day and welcome to the Myomo Inc Fourth Quarter 2019 Earnings Conference Call. All participants will be in a listen- ...
Myomo(MYO) - 2019 Q3 - Earnings Call Transcript
2019-11-13 02:36
Myomo, Inc. (NYSE:MYO) Q3 2019 Earnings Conference Call November 12, 2019 4:30 PM ET Executives Adam Holdsworth - Investor Relations Paul Gudonis - Chairman and Chief Executive Officer Dave Henry - Chief Financial Officer Analysts Jim Sidoti - Sidoti and Company Ed Woo - Ascendiant Capital Operator Good day and welcome to the Myomo Inc. Third Quarter 2019 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today???s presentation, there will be an opportuni ...
Myomo(MYO) - 2019 Q3 - Quarterly Report
2019-11-12 21:16
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, 2019 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 ...
Myomo(MYO) - 2019 Q2 - Earnings Call Transcript
2019-08-10 10:01
Myomo, Inc. (NYSE:MYO) Q2 2019 Results Conference Call August 8, 2019 4:30 PM ET Company Participants Vivian Cervantes ??? Investor Relations Paul Gudonis ??? Chairman and Chief Executive Officer Dave Henry ??? Chief Financial Officer Conference Call Participants Jim Sidoti ??? Sidoti and Company Ed Woo ??? Ascendiant Capital Operator Good morning and welcome to the Myomo Incorporated Second Quarter 2019 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After ...
Myomo(MYO) - 2019 Q2 - Quarterly Report
2019-08-08 20:45
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 June 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . One Broadway, 14th Floor, Cambridge, Massachusetts 02142 (Address of principal executive offices) (Zip Code) (617) 996-9058 Registrant's Telephone Number, ...
Myomo(MYO) - 2019 Q1 - Quarterly Report
2019-05-14 20:06
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, 2019 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) - 2019 Q1 - Earnings Call Transcript
2019-05-13 16:41
Financial Data and Key Metrics Changes - Revenue for Q1 2019 was approximately $830,000, representing a 165% increase compared to Q1 2018 [18] - Gross margin improved to 79% in Q1 2019 from 65% in Q1 2018, driven by higher average selling prices and cost reductions [19] - Operating expenses increased by 28% year-over-year to approximately $3,337,000 [20] - Net loss for Q1 2019 was approximately $2,598,000, or $0.17 per share, compared to a net loss of $2,345,000, or $0.20 per share in Q1 2018 [20] - Cash on hand at March 31, 2019, was approximately $9,234,000, up from $6,541,000 at December 31, 2018 [22] Business Line Data and Key Metrics Changes - The company sold 35 units in Q1 2019, a 150% increase over the 14 units sold in Q1 2018 [18] - Direct billing accounted for 22% of Q1 2019 revenues, contributing to the higher average selling price [19] - The reimbursement pipeline grew to 354 units by March 31, 2019, up from 306 units at the end of 2018 [24] Market Data and Key Metrics Changes - The company expanded its U.S. distribution footprint by adding O&P channel partners in the top 50 Metropolitan Statistical Areas [13] - International expansion efforts included partnerships with O&P providers in Italy, Chile, and Australia, although revenue from international sales remains insignificant at this stage [15] Company Strategy and Development Direction - The company aims to become the worldwide standard of care for upper extremity paralysis by expanding its sales and marketing efforts [29] - The focus is on growing the reimbursement pipeline through direct-to-patient marketing and screening days [29] - The company is also working on launching a pediatric device later in the year, which is driving R&D expenses [36] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding Medicare coverage policies and the potential for significant revenue growth in 2019 [15][23] - The company expects operating leverage in 2019, with incremental gross profit dollars anticipated to exceed incremental operating expenses [23] - The cash burn rate in Q1 supports the expectation that available cash is sufficient to fund operations through the end of 2019 [26] Other Important Information - The company completed a follow-on public offering on February 12, 2019, generating net proceeds of approximately $5.6 million [22] - The company is actively following up with patients who exited the reimbursement pipeline to keep them engaged in the process [45] Q&A Session Summary Question: Can you talk about O&P centers and their billing preferences? - The preference varies among O&P providers; some prefer traditional billing while others favor a fee-for-service model [33] Question: Is the increase in R&D expenses related to headcount? - Yes, the increase is primarily headcount-driven as the company prepares to launch a pediatric device [36] Question: Have there been any communications with CMS regarding reimbursement? - Limited contact has occurred; the company is awaiting CMS's coverage policy decisions [38] Question: What proportion of submitted pre-authorizations are direct billing? - The company does not typically provide that level of detail regarding direct billing versus other O&P providers [41] Question: Is the first quarter typically slow for generating leads? - Yes, Q1 is usually slower due to year-end resets, but the company did not see a steep drop-off in leads this year [44]