Q2 2026 Myomo Inc Earnings Call Transcript
Key Points
- Revenue increased 21% year-over-year to $11.7 million, with record quarterly orders of 255 MyoPro units.
- Recurring patient sources now represent 53% of total revenue, double the 26% from a year ago and six months ahead of schedule.
- Gross margin improved significantly to 72.1% from 62.7% in the prior year quarter, driven by higher ASP and cost reductions.
- Operating loss improved to $2.3 million from $4.6 million, and adjusted EBITDA loss narrowed by 79% year-over-year.
- Expanded market access with new payer contracts, including Optum's workers' compensation product, and added over 150 referral sites, bringing total to over 300 active locations.
- Pipeline adds were impacted by website maintenance, causing a temporary pause in data sharing with the digital ad agency.
- Cash burn remains a concern, with cash used in operating activities of $1.9 million in Q2, though improved from $8.9 million a year ago.
- Net loss included a non-cash charge of $1.2 million related to mark-to-market adjustments on derivative liabilities.
- Medicare Part B revenue mix declined to 50% from 56% in the prior year, and Medicare Advantage plans also decreased to 16% from 20%.
- The company expects a modest sequential increase in operating expenses in Q3, and full-year revenue guidance was raised but still implies slower growth in the second half.
Good day and welcome to the Myomo Second Quarter 2026 Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.
After today's presentation, there'll be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded.
I would now like to turn the conference over to Vivian Cervantes, Investor Relations. Please go ahead.
Thank you, operator, and good afternoon, everyone. This is Vivian Cervantes with Alliance Advisors IR. Welcome to Myomo Second Quarter 2026 Financial Results Conference Call.
With me today. Are Myomo's Chief Executive Officer Paul Gadonis 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
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