Myomo Reports 2020 First Quarter Financial Results
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Myomo (MYO) Misses Q1 EPS by 45c
May 14, 2020 4:20 PM EDTMyomo (NYSE: MYO) reported Q1 EPS of ($2.51), $0.45 worse than the analyst estimate of ($2.06). Revenue for the quarter came in at $1 million versus the consensus estimate of $850 thousand.
Financial and operational highlights include the following (all comparisons are with the first quarter of 2019 unless otherwise noted):
Revenue was $1.0 million, up 21% compared with $0.8 million.Revenue from direct billing was a record 62% of total revenue, compared with 26% of total revenue.Gross margin increased 300 basis points to 68.4% from 65.4%.The reimbursement pipeline contained more than 700 MyoPro units as of March 31, 2020, compared with 594 units... More