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Myomo Reports First Quarter 2024 Financial Results

Wednesday, May 8, 2024 BiopharmaWatch Research 1 min read
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Key Takeaway: Myomo, Inc. reported its financial results for Q1 2024, highlighting a record backlog of 275 patients, including 180 authorizations and orders, which represents a 48% increase year-over-year. The company achieved revenue of $3.8 million, marking a 9% rise from the prior year. Additionally, 493 MyoPro candidates were added to the pipeline during this quarter.
Price reaction · baseline $3.85 (2024-05-08T16:06:00.000Z) · hit during market hours · clean, no other MYO news in the window
day 0 close · peak
+2.1%

Market Sentiment Analysis

POSITIVE FACTORS

  • Record 275 patients in backlog, indicating strong demand.
  • Revenue increased by 9% compared to the previous year.
  • 493 MyoPro candidates added to the pipeline, showing growth.

Full Press Release Details

Record 275 patients in backlog, includes 180 authorizations and orders in Q1, up 48% over the prior year
Record 493 MyoPro candidates added to the pipeline in Q1
Revenue of $3.8 million, up 9% over the prior year
Conference call begins at 4:30 p.m. Eastern time today
BOSTON (May 8, 2024) – Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today reported financial results for the three months ended March 31, 2024. Read more

Frequently Asked Questions

What were Myomo's Q1 2024 revenue figures?

Myomo reported revenue of $3.8 million for Q1 2024, a 9% increase from the previous year.

How many patients are in Myomo's backlog?

Myomo has a record backlog of 275 patients, which includes 180 authorizations and orders.

What is the growth in MyoPro candidates for Q1 2024?

The company added 493 MyoPro candidates to its pipeline in Q1 2024.

When is Myomo's conference call for Q1 results?

Myomo's conference call for Q1 results begins at 4:30 p.m. Eastern time today.

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Tags: MYO Viatris Investor Conferences Healthcare Myomo financial results Q1 2024 revenue growth
Last updated: May 8, 2024

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