MYO 8-K
Myomo, Inc. (MYO)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact Name of Company as Specified in Charter)
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Company’s telephone number, including area code:
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On August 5, 2026, Myomo, Inc, (the "Company") announced its financial results for the second quarter ended June 30, 2026. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Form 8-K (including Exhibit 99.1) is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01.
(d) Exhibits
Exhibit |
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Description |
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99.1 |
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Press release issued by Myomo, Inc. on August 5, 2026, furnished herewith. |
104 |
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The cover page from the Company’s Form 8-K dated August 5, 2026, formatted in Inline XBRL |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MYOMO, INC. |
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Date: |
August 5, 2026 |
By: |
/s/ David A. Henry |
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David A. Henry |
Exhibit 99.1
Myomo Reports Second Quarter 2026 Financial and Operating Results
Revenue of $11.7 million, increased 21% year over year
Four success pillars driving higher revenue growth and operating leverage
Raising full year revenue guidance to $45-47 million
Conference call begins at 4:30pm Eastern time today
BURLINGTON, Mass. (August 5, 2026) – Myomo, Inc. (NYSE American: MYO)(“Myomo” or the “Company”), a wearable medical robotics platform company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today reported financial results for the three and six months ended June 30, 2026.
“I am pleased to report that the evolution of our go-to-market approach is driving positive results. Revenue of $11.7 million exceeded our expectations, with 53% of second quarter revenues generated from referral network sources through our MyoConnect program and other sales channels. In addition, we generated operating leverage as we grew revenue 21% while holding operating expenses roughly flat," said Paul R. Gudonis, Chairman and Chief Executive Officer of Myomo. “We believe our growing clinical referral network and the increased market awareness of our wearable robotics platform will lead to greater adoption by rehab clinicians and the hundreds of thousands of potential MyoPro candidates they treat. We anticipate continued progress on these initiatives and as a result are raising the revenue guidance to approximately 10-15% growth over the prior year.”
Success Pillar Accomplishments:
Results of Key Operating Metrics:
Financial Results
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For the Three Months |
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Period- |
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For the Six Months |
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Period- |
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2026 |
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2025 |
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$ |
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% |
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2026 |
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2025 |
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$ |
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% |
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Revenue |
$ |
11,704,565 |
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$ |
9,652,234 |
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$ |
2,052,331 |
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21 |
% |
$ |
21,817,853 |
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$ |
19,484,048 |
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2,333,805 |
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12 |
% |
Cost of revenue |
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3,262,017 |
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3,600,061 |
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(338,044 |
) |
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(9 |
)% |
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6,473,698 |
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6,822,246 |
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(348,548 |
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(5 |
)% |
Gross profit |
$ |
8,442,548 |
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$ |
6,052,173 |
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$ |
2,390,375 |
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39 |
% |
$ |
15,344,155 |
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$ |
12,661,802 |
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$ |
2,682,353 |
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21 |
% |
Gross margin % |
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72.1 |
% |
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62.7 |
% |
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9.4 |
% |
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70.3 |
% |
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65.0 |
% |
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5.3 |
% |
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Revenue: Revenue for the second quarter of 2026 was $11.7 million, up 21% compared with the second quarter of 2025, reflecting a higher ASP, and an increase in the number of revenue units. Myomo recognized revenue on 211 MyoPro units in the quarter, up 19% over the same period a year ago and driven by higher volume in our Direct Billing and O&P sales channels.
Gross Margin: Gross margin for the second quarter of 2026 was 72.1%, compared with 62.7% for the second quarter of 2025. The increase was driven primarily by the higher ASP and the impact of cost reductions, such as the rollout of the Myomo Mobile App which reduces material costs, partially offset by higher clinical costs classified to cost of goods sold.
Operating Expenses: Operating expenses for the second quarter of 2026 were $10.7 million, an increase of less than 1% compared with the second quarter of 2025. The increase was primarily due to higher general and administrative expenses, driven by seasonally higher legal expense, partially offset by lower research and development expenses and lower advertising expense.
Operating and Net Loss: Operating loss for the second quarter of 2026 was $2.3 million, compared with an operating loss of $4.6 million for the second quarter of 2025. Net loss, including a non-cash charge of $1.2 million for the mark-to-market of our derivative liabilities, was $4.0 million, or $0.09 per share for the second quarter of 2026, compared with $4.6 million, or $0.11 per share, for the second quarter of 2025.
Adjusted EBITDA: Adjusted EBITDA loss for the second quarter of 2026 was $0.8 million, compared with $4.0 million for the second quarter of 2025, an improvement of approximately 79%. A reconciliation of GAAP net loss to this non-GAAP financial measure appears below.
Cash, Cash Equivalents and Cash Flows: Cash, cash equivalents and short-term investments as of June 30, 2026, were $13.5 million. Cash used in operating activities was $1.9 million for the second quarter of 2026, compared with $8.9 million used in operating activities in the second quarter of 2025.
Business Outlook
"In the third quarter of 2026, we expect continued year-over-year revenue growth with modestly higher operating expenses on a sequential basis, as we expand our MyoConnect program. We expect third quarter 2026 revenue to be in the range of $11.5 million to $12.0 million, up 14% to 19% year-over-year. We are raising our full year revenue guidance to $45 million to $47 million. We reiterate our full year operating leverage expectation, and we expect cash burn to be less than $2 million during the second half of the year," added Mr. Gudonis.
Conference Call and Webcast
Myomo will hold a conference call today at 4:30 p.m. Eastern time to discuss these results and answer questions. Participants are encouraged to pre-register for the call at this link. Callers who pre-register will receive a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time up to and after the start of the call. Those unable to pre-register may participate by dialing 844-707-6932 (U.S.) or 412-317-9250 (International). A webcast of the call will also be available at Myomo’s Investor Relations page at http://ir.myomo.com/.
A replay of the webcast will be available beginning approximately one hour after the completion of the live conference call at http://ir.myomo.com/. A dial-in replay of the call will be available until August 19, 2026 at 855-669-9658 (U.S./Canada toll-free) or 412-317-0088 (International), with passcode 1135727.
Non-GAAP Financial Measures
Myomo is providing financial information that has not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. This information includes Adjusted EBITDA. This non-GAAP financial measure is not in accordance with, or an alternative for, GAAP and may be different from similar non-GAAP financial measures used by other companies. Myomo believes the use of this non-GAAP financial measure provides supplementary information for investors to use in evaluating operating performance and in comparing Myomo’s financial measures with other companies in its industry, many of which present similar non-GAAP financial measures. Adjusted EBITDA is EBITDA adjusted for stock-based compensation expense. This non-GAAP financial measure is not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP, and should be viewed in conjunction with GAAP financial measures. Investors are encouraged to review the reconciliation of this non-GAAP measure to its most directly comparable GAAP financial measure. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables included as part of this press release.
About Myomo
Myomo, Inc. is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper-limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered upper-limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of certain patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury or other neuromuscular disease or injury. It is currently the only marketed device in the U.S. that, sensing a patient’s own EMG signals through non-invasive sensors on the arm, can restore an individual’s ability to perform activities of daily living, including feeding themselves, carrying objects and doing household tasks. Many are able to return to work, live independently and reduce their cost of care. Myomo is headquartered in Burlington, Massachusetts, with sales and clinical professionals across the U.S. and representatives internationally. For more information, please visit www.myomo.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding the Company’s future business expectations, including expectations for second quarter and full year 2026 revenue, and operating leverage expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors.
These factors include, among other things:
More information about these and other factors that potentially could affect our financial results is included in Myomo’s filings with the Securities and Exchange Commission, including those contained in the risk factors section of the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q and other filings with the Commission. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Although the forward-looking statements in this release of financial information are based on our beliefs, assumptions and expectations, taking into account all information currently available to us, we cannot guarantee future transactions, results, performance, achievements or outcomes. No assurance can be made to any investor by anyone that the expectations reflected in our forward-looking statements will be attained, or that deviations from them will not be material or adverse. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contacts:
Myomo:
Alliance Advisors IR:
Vivian Cervantes
973-873-7724
(Tables follow)
MYOMO, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Revenue |
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$ |
11,704,565 |
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$ |
9,652,234 |
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$ |
21,817,853 |
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$ |
19,484,048 |
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Cost of revenue |
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3,262,017 |
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3,600,061 |
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6,473,698 |
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6,822,246 |
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Gross profit |
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8,442,548 |
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6,052,173 |
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15,344,155 |
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12,661,802 |
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Operating expenses: |
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Research and development |
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1,720,463 |
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2,001,331 |
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3,343,623 |
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3,791,355 |
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Selling, clinical and marketing |
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5,264,090 |
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5,233,885 |
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10,080,849 |
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9,629,689 |
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General and administrative |
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3,712,481 |
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3,407,277 |
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7,331,221 |
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7,351,332 |
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10,697,034 |
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10,642,493 |
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20,755,693 |
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20,772,376 |
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Loss from operations |
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(2,254,486 |
) |
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(4,590,320 |
) |
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(5,411,538 |
) |
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(8,110,574 |
) |
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Other expense (income), net |
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Interest expense (income), net |
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535,744 |
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(106,549 |
) |
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1,040,440 |
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(298,540 |
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Change in fair value of derivative liabilities |
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1,199,726 |
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— |
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360,662 |
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— |
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1,735,470 |
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(106,549 |
) |
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1,401,102 |
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(298,540 |
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Loss before income taxes |
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(3,989,956 |
) |
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(4,483,771 |
) |
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(6,812,640 |
) |
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(7,812,034 |
) |
Income tax expense |
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31,404 |
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148,201 |
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218,119 |
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284,996 |
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Net loss |
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$ |
(4,021,360 |
) |
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$ |
(4,631,972 |
) |
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$ |
(7,030,759 |
) |
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$ |
(8,097,030 |
) |
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Weighted average number of common shares outstanding: |
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Basic and diluted |
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42,697,319 |
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41,582,737 |
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42,484,409 |
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41,518,959 |
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Net loss per share attributable to common stockholders |
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Basic and diluted |
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$ |
(0.09 |
) |
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$ |
(0.11 |
) |
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$ |
(0.17 |
) |
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$ |
(0.20 |
) |
MYOMO, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
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June 30, |
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December 31, |
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2026 |
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2025 |
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(unaudited) |
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ASSETS |
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Current Assets: |
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Cash and cash equivalents |
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$ |
11,219,217 |
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$ |
14,132,027 |
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Short-term investments |
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2,233,141 |
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4,261,782 |
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Accounts receivable, net |
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4,945,509 |
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4,096,327 |
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Inventories |
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3,169,372 |
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3,123,089 |
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Prepaid expenses and other current assets |
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2,958,442 |
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1,943,860 |
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Total Current Assets |
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24,525,681 |
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27,557,085 |
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Restricted cash |
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575,000 |
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575,000 |
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Operating lease assets with right of use |
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6,514,020 |
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6,679,349 |
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Equipment, net |
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1,986,836 |
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2,212,901 |
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Software development costs, net |
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1,721,532 |
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1,590,864 |
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Other assets |
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19,185 |
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21,374 |
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Total Assets |
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$ |
35,342,254 |
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$ |
38,636,573 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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Current Liabilities: |
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Accounts payable and accrued expenses |
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7,515,613 |
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5,819,767 |
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Current operating lease liability |
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730,824 |
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494,662 |
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Income taxes payable |
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586,644 |
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813,260 |
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Deferred revenue |
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202,580 |
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218,222 |
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Warrant derivative liability |
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1,127,498 |
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999,418 |
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Current portion long term debt, net of discount of $73,871 |
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446,962 |
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— |
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Total Current Liabilities |
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10,610,121 |
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8,345,329 |
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Non-current operating and financing lease liability |
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7,370,509 |
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7,665,622 |
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Long-term debt, net of discount of $2,437,757 |
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11,532,254 |
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11,222,155 |
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Total Liabilities |
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29,512,884 |
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27,233,106 |
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Commitments and Contingencies |
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— |
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— |
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Stockholders’ Equity: |
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Preferred stock |
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— |
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— |
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Common stock |
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3,953 |
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3,847 |
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Additional paid-in capital |
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131,326,086 |
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129,929,989 |
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Accumulated other comprehensive income |
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224,976 |
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164,517 |
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Accumulated deficit |
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(125,719,181 |
) |
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(118,688,422 |
) |
Treasury stock, at cost |
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(6,464 |
) |
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(6,464 |
) |
Total Stockholders’ Equity |
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5,829,370 |
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11,403,467 |
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Total Liabilities and Stockholders’ Equity |
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$ |
35,342,254 |
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$ |
38,636,573 |
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MYOMO, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Six Months Ended June 30, |
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2026 |
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2025 |
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CASH FLOWS FROM OPERATING ACTIVITIES |
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Net loss |
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$ |
(7,030,759 |
) |
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$ |
(8,097,030 |
) |
Adjustments to reconcile net loss to net cash used in operations: |
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Depreciation and amortization |
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676,129 |
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349,240 |
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Stock-based compensation |
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1,639,913 |
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935,093 |
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Accretion of discount on short-term investments |
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(73,484 |
) |
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(23,383 |
) |
Bad debt expense |
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— |
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51,643 |
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Amortization of right-of-use assets |
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|
362,699 |
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|
526,600 |
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Amortization of deferred offering cost |
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|
524,479 |
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|
60,045 |
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Change in fair value of derivative liabilities |
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|
360,662 |
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|
— |
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Other non-cash charges |
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|
96,612 |
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|
(91,984 |
) |
Changes in operating assets and liabilities: |
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Accounts receivable |
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|
(1,065,154 |
) |
|
|
(2,975,272 |
) |
Inventories |
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|
174,977 |
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|
(1,204,740 |
) |
Prepaid expenses and other current assets |
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(1,032,389 |
) |
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|
(615,940 |
) |
Other assets |
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— |
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|
|
(130,801 |
) |
Accounts payable and accrued expenses |
|
|
1,703,910 |
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|
(531,182 |
) |
Operating lease liabilities |
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|
(256,321 |
) |
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|
140,536 |
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Deferred revenue |
|
|
(15,642 |
) |
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|
25,666 |
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Income taxes payable |
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|
(207,400 |
) |
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|
(144,392 |
) |
Tenent improvement allowance |
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|
— |
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|
183,726 |
|
Net cash used in operating activities |
|
|
(4,141,768 |
) |
|
|
(11,542,175 |
) |
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES |
|
|
1,528,080 |
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(2,653,446 |
) |
CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES |
|
|
(243,709 |
) |
|
|
3,963,494 |
|
Effect of foreign exchange rate changes on cash |
|
|
(55,413 |
) |
|
|
100,186 |
|
|
|
|
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||
Net change in cash, cash equivalents and restricted cash |
|
|
(2,912,810 |
) |
|
|
(10,131,941 |
) |
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|
|
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Cash, cash equivalents and restricted cash, beginning of period |
|
|
14,707,027 |
|
|
|
24,747,373 |
|
|
|
|
|
|
|
|
||
Cash, cash equivalents and restricted cash, end of period |
|
$ |
11,794,217 |
|
|
$ |
14,615,432 |
|
MYOMO, INC.
RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA
(unaudited)
|
|
For the Three Months |
|
|
For the Six Months |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
GAAP net loss |
|
$ |
(4,021,360 |
) |
|
$ |
(4,631,972 |
) |
|
$ |
(7,030,759 |
) |
|
$ |
(8,097,030 |
) |
Adjustments to reconcile to Adjusted EBITDA: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest expense (income), net |
|
|
535,744 |
|
|
|
(106,549 |
) |
|
|
1,040,440 |
|
|
|
(298,540 |
) |
Depreciation expense |
|
|
384,539 |
|
|
|
190,798 |
|
|
|
676,129 |
|
|
|
349,240 |
|
Stock-based compensation |
|
|
1,042,665 |
|
|
|
394,889 |
|
|
|
1,639,913 |
|
|
|
935,093 |
|
Change in fair value of derivative liabilities |
|
|
1,199,726 |
|
|
|
— |
|
|
|
360,662 |
|
|
|
— |
|
Income tax expense |
|
|
31,404 |
|
|
|
148,201 |
|
|
|
218,119 |
|
|
|
284,996 |
|
Adjusted EBITDA |
|
$ |
(827,282 |
) |
|
$ |
(4,004,633 |
) |
|
$ |
(3,095,496 |
) |
|
$ |
(6,826,241 |
) |
# # #