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Myomo (MYO) 2025 Earnings Call Presentation
2025-06-19 11:56
Financial Targets and Performance - Myomo aims to reach $100 million in annual revenue by 2028[18, 476] - The company targets a gross margin of 70-72% and an EBITDA margin of 15-20% in the long term[469] - Operating cash flow breakeven is projected at a revenue level of approximately $17 million to $18 million per quarter[469, 476] Revenue Channels - Direct billing accounted for 79% of Myomo's Q1 2025 revenue[16] - The O&P channel is targeted to contribute 20% of the total revenue by 2028[476] - International revenue constituted 13% of the company's Q1 2025 revenue[16] International Business (Germany) - In Germany, 10% of funding requests result in direct approval for MyoPro fitting, while 65% are routed through a 6-month trial[363, 364] - The conversion rate after a 6-month trial in Germany averages 35%[365, 369] - International revenue is projected to grow to $15 million by 2028[384] Cost Reduction and Efficiency - The company is targeting 200 bps of gross margin improvement on a quarterly basis by the end of 2026 through labor optimization and lean manufacturing implementation[339] - Myomo plans to insource core subassemblies, targeting a 15% cost reduction for FE & SP Joint by Q4 2025 and for Grasp and Elbow Motor Assembly by Q1 2026[341] Medicare Advantage (MAO) - Medicare Advantage Organizations (MAO) authorization rate in Q1 2025 is at a certain level, with industry-wide denial rates increasing[163] - Myomo has a 58% win rate for Administrative Law Judge (ALJ) hearings YTD[179]
