Myomo, Inc. reported its financial results for the third quarter of 2025, revealing a revenue increase of 10% to $10.1 million compared to $9.2 million in the same period last year. For the nine months ending September 30, 2025, revenue surged by 44% to $29.6 million, up from $20.5 million in 2024. Despite this growth, the company recorded a net loss of $3.7 million for the quarter, significantly higher than the $966,000 loss reported in Q3 2024. The nine-month net loss also widened to $11.8 million from $5.9 million in the prior year.
The increase in revenue was attributed to a higher number of units delivered, particularly to Medicare Part B patients and Orthotics and Prosthetics (O&P) practices in the U.S. and Germany. However, the cost of revenue rose sharply by 61% in Q3 2025, leading to a gross margin decline to 63.8% from 75.4% in the same quarter last year. This decline was primarily due to increased material costs and higher manufacturing overhead associated with the company's new headquarters and manufacturing facility.
Operationally, Myomo has expanded its workforce to support anticipated sales growth, with selling, clinical, and marketing expenses increasing by 54% year-over-year in Q3 2025. The company has also focused on enhancing its product offerings, launching the MyoPro 2x in April 2025, which is expected to drive further revenue growth. As of September 30, 2025, Myomo had approximately 38.4 million shares outstanding, up from 34.4 million at the end of 2024, reflecting ongoing equity financing efforts.
In terms of liquidity, Myomo reported cash and cash equivalents of $12.6 million as of September 30, 2025, down from $24.4 million at the end of 2024. The company has utilized financing activities, including a public offering in December 2024 that raised approximately $15.8 million, to support its operations. Additionally, Myomo entered into a new loan agreement in November 2025, providing $17.5 million in committed capital to further bolster its financial position.
Looking ahead, Myomo anticipates continued investment in advertising and clinical capacity to drive revenue growth while managing operating expenses to reduce cash burn. The company believes its current cash reserves and expected cash flows will sustain operations for at least the next twelve months. However, it remains dependent on reimbursement from insurance companies and government health plans, which is critical for achieving long-term financial stability.
About MYOMO, INC.
Myomo, Inc. develops wearable robotic devices, primarily the MyoPro upper limb orthosis, to assist individuals with neuromuscular disorders and paralysis. The company’s products leverage patented EMG control technology to enable users to regain arm and hand function. Serving healthcare providers, insurance payers, and international markets, Myomo focuses on innovative, custom-fabricated solutions that improve independence and quality of life for patients with neurological impairments.
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