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NEW YORK - Myomo, Inc. (NYSE: NYSE:MYO) shares surged 15.8% in after-hours trading on Thursday after the wearable medical robotics company reported better-than-expected fourth quarter results and provided strong revenue guidance for 2025.
The Burlington (NYSE:BURL), Massachusetts-based company posted adjusted earnings per share of -$0.01 for Q4, beating analyst estimates of -$0.02. Revenue soared 154% year-over-year to $12.1 million, surpassing the consensus forecast of $9.9 million.
Myomo’s Q4 revenue growth was driven by a 106% increase in MyoPro units to a record 220, along with a 23% rise in average selling price to approximately $54,900. The company also achieved positive quarterly cash flow from operations for the first time, generating $3.4 million.
"Our success in the fourth quarter is the culmination of a transformational year for Myomo," said Paul R. Gudonis, Myomo’s Chairman and CEO. "We rapidly scaled our operations to serve the Medicare Part B population that is medically eligible to receive a MyoPro."
Looking ahead, Myomo provided upbeat guidance for fiscal year 2025, projecting revenue between $50 million to $53 million. This outlook represents growth of 54% to 63% compared to 2024 and exceeds the current analyst consensus of $42.23 million.
The company added a record 657 new candidates to its patient pipeline in Q4, up 72% YoY. Myomo’s backlog, representing insurance authorizations and orders not yet converted to revenue, grew 18% YoY to 272 units as of December 31, 2024.
Myomo expects typical seasonality in Q1 2025, with projected revenue between $9.0 million to $9.5 million. The company aims to return to positive quarterly cash flow from operations by Q4 2025.
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