Myomo Revenue Rises 22% to $12.3 Million in Third Quarter of 2026

Key Facts

Myomo reported third-quarter 2026 revenue of $12.3 million, up 22% year over year, according to the company’s filing with the U.S. Securities and Exchange Commission. The company said growth reflected a 19% increase in revenue units and a 2% rise in average selling price. Myomo recognized revenue on 222 MyoPro units during the quarter. Revenue was within the company’s previously forecast range of $11.5 to $12.0 million. Meanwhile, the net loss widened to $4.2 million, leaving revenue growth accompanied by a larger loss than in the year-earlier period.

Gross margin improved to 71.3% in the third quarter, compared with 63.8% a year earlier, according to the filing. Myomo attributed the improvement to a higher average selling price, lower materials costs and increased volume. The company said higher clinical costs limited the impact of those factors. The margin was 72.1% in the second quarter of 2026, compared with 62.7% in the second quarter of 2025. The quarter-on-quarter comparison reflects a slight decline from the second-quarter level, while the third-quarter margin remained above its year-earlier level.

The net loss was $4.2 million, or $0.10 per share, compared with a loss of $3.7 million, or $0.09 per share, in the third quarter of 2025. The current-quarter loss included a non-cash expense of $1.8 million to revalue derivative liabilities, the company said. Myomo recorded an adjusted loss before interest, taxes, depreciation and amortization of $1,513, a figure it described as approximately breakeven. That compares with a loss of $2,686,673 on the measure in the year-earlier period. The adjusted measure therefore remained near breakeven, while the reported net loss widened year over year.

The company recorded 258 orders during the quarter, a record and a 13% year-over-year increase, according to its filing. Myomo said broader in-network access and improved quality of patient referrals lifted order rates. Revenue for the nine months ended September 30 totaled $34,148,370, compared with $29,574,746 in the year-earlier period. That represents 15% year-over-year growth for the nine months. The cumulative performance follows revenue of $11.7 million in the second quarter, up 21% year over year.

Operating expenses were $10.5 million in the third quarter, up 6% from the year-earlier period. The company attributed the increase mainly to higher research and development spending related to the University of Utah trial, as well as higher administrative expenses. Cash, cash equivalents and short-term investments totaled $11.9 million on September 30, 2026. The company used $1.3 million in cash in operating activities during the quarter, compared with $1.8 million in the third quarter of 2025. Myomo said it expects cash burn to be below $2 million in the second half of 2026, while reaffirming its expectation of operating leverage for the full year.

Myomo narrowed its fiscal 2026 revenue guidance to $46–47 million, the upper half of its previous guidance range, according to its filing. The chief executive said the third-quarter results put the company on track to reach or exceed the midpoint of its raised annual guidance. The company had raised its annual forecast in the second quarter to a range of $45–47 million. It also said it expected third-quarter revenue of between $11.5 and $12.0 million, with anticipated year-over-year growth of 14% to 19%. In trading on November 9, the stock closed at $1.40, up 15.7%, before falling 5% to $1.33 after hours, according to Investing.com; it had closed at $1.21 on November 6, according to EL7 data.