Q2 2025 Myomo Inc Earnings Call Transcript
Key Points
- Myomo Inc (MYO) reported a 28% increase in revenue for the second quarter of 2025, driven by a higher number of revenue units and a higher average selling price.
- The company achieved a record level of leads in June, with four times as many leads generated as in January earlier this year.
- Myomo Inc (MYO) has expanded its contracting to cover 35 million lives with signed or pending agreements, enhancing patient access to the Myopro.
- International revenue, primarily from Germany, was up 41% year over year, indicating strong growth in this segment.
- The company has trained over 1,500 occupational therapists on the Myopro across the country, which is expected to result in more high-quality patients entering the pipeline.
- Despite achieving a record number of leads, the conversion rate from leads to pipeline ads was lower than expected due to poor lead quality, particularly from Facebook.
- The cost per pipeline ad increased significantly to approximately $2,900, up from about $1,500 in recent quarters.
- Operating expenses for the second quarter of 2025 increased by 65% over the prior year, driven by higher advertising spending and increased headcount.
- The company experienced a lower conversion rate from pipeline ads to authorizations, impacting backlog growth.
- Gross margin for the second quarter of 2025 decreased to 62.7% from 70.8% in the prior year quarter, primarily due to higher material costs and overhead spending.
Good day and welcome to MOO 2nd quarter 2025 Financial results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star key followed by 0. After today's presentation. There will be an opportunity to ask a question to ask a question, you may press start then 1 on attached on phone. To redraw your question, please press 2. Please note this event is being recorded. I would now like to turn the conference over to P Patel, Alliance Advisors IR.
Please go ahead.
Thank you, operator, and good afternoon, everyone. This is Turk Patel with Alliance Advisors IR. Welcome to the MOO 2nd quarter 2025 conference call. With me on today's call are Maomo's Chief Executive Officer Paul Gudonis, and Chief Financial Officer Dave Henry. Before we begin, I'd like to caution listeners that statements made during this call by management, other than historical facts are forward-looking statements. The words anticipate, believe, estimate,
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