Myomo (MYO) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue grew 3% year-over-year to $10.1 million, driven by higher ASP and international growth, with 49% from recurring patient sources, up from 25% last year.

• Gross margin expanded by 100 basis points to 68.2%, attributed to higher ASP and lower material costs.

• Operating expenses declined 1% year-over-year, and net loss narrowed to $3 million ($0.07/share) from $3.5 million ($0.08/share) last year.

• Adjusted EBITDA improved to $(2.3) million from $(2.8) million year-over-year.

• Strategic focus on recurring revenue, market access, operating leverage, innovation, and new product launches including MyoPro 2x and a mobile app.

Financial highlights

• Q1 revenue: $10.1 million (+3% YoY); ASP: $58,800 (+9% YoY); gross profit: $6.9 million.

• Gross margin: 68.2% (up from 67.2% YoY); operating loss: $3.2 million (improved from $3.5 million YoY).

• Adjusted EBITDA: $(2.3) million (vs. $(2.8) million YoY); net loss: $3 million ($0.07/share).

• Cash and equivalents: $15.7 million as of March 31, 2026; working capital: $16.3 million.

• Cash used in operating activities: $2.2 million in Q1 2026, down from $2.7 million in Q1 2025.

Outlook and guidance

• Q2 2026 revenue expected at $10.3–$10.8 million (+7–12% YoY, +2–7% sequentially).

• Q2 gross margin to be higher YoY but lower sequentially due to channel mix; operating expenses to rise slightly.

• Full-year 2026 revenue guidance reiterated at $43–$46 million; OpEx growth to be about half of revenue growth.

• Management expects available cash and investments to fund operations for at least 12 months.