MYOMO Reports 3% Revenue Growth to $10.1 Million in Q1 2026

MYOMO, Inc. reported its financial results for the first quarter of 2026, revealing a revenue increase of 3% to $10.1 million compared to $9.8 million in the same period of 2025. The company achieved a gross profit of $6.9 million, reflecting a gross margin of 68.2%, up from 67.2% a year earlier. Despite the revenue growth, MYOMO incurred a net loss of approximately $3.0 million, a slight improvement from the $3.5 million loss reported in the prior year. The weighted average number of shares outstanding increased to 42.3 million, resulting in a net loss per share of $0.07, compared to $0.08 in the previous year.

The company’s financial position showed a decline in total assets, which decreased to $36.8 million from $38.6 million at the end of 2025. Current assets also fell to $25.7 million, primarily due to a reduction in cash and cash equivalents, which dropped to $11.4 million from $14.1 million. On the liabilities side, total liabilities increased to $27.8 million, up from $27.2 million, driven by higher accounts payable and accrued expenses. Stockholders' equity decreased significantly to $9.0 million from $11.4 million, largely due to the net loss incurred during the quarter.

Operationally, MYOMO continues to focus on expanding its MyoConnect program, which aims to generate referrals from rehabilitation clinics and stroke centers. The company reported that 80% of its revenue came from the U.S. market, with the remaining 20% from Germany, indicating a shift in geographic revenue distribution compared to the previous year. The company also noted an increase in its customer base, with a growing number of patients utilizing its MyoPro product line, which is designed for individuals with neuromuscular disorders.

In terms of strategic developments, MYOMO entered into a Loan and Security Agreement in November 2025, securing $17.5 million in committed funding. The first tranche of $12.5 million was funded at closing, with the remaining $5 million available at the company's discretion within 12 to 18 months. This financing is intended to support ongoing operations and facilitate growth initiatives. Additionally, the company introduced a mobile application for the MyoPro, enhancing user experience and engagement.

Looking ahead, MYOMO anticipates continued revenue growth in 2026, driven by its focus on recurring revenue sources and reducing patient acquisition costs. The company aims to leverage its MyoConnect program and expand its operations in the orthotics and prosthetics (O&P) channel, while also managing operating expenses to improve overall financial performance. However, MYOMO acknowledges the challenges posed by reliance on insurance reimbursements, which could impact its ability to achieve cash flow breakeven in the future.