Myomo, Inc. reported first-quarter 2025 revenue of $9.8 million, a 162% increase compared to Q1 2024, which was in line with expectations. The company recognized revenue on 182 MyoPro units, up 100% year-over-year, with an average selling price of approximately $54,000. Medicare Part B patients represented 59% of Q1 2025 revenue.
Gross margin for Q1 2025 was 67.2%, up from 61.2% in Q1 2024, driven by higher ASP and fixed overhead absorption. Operating expenses increased by 64% to $10.1 million, primarily due to higher payroll, increased engineering activity, and higher advertising expenditures of $1.6 million, up 104%.
The net loss for Q1 2025 was $3.5 million, or $0.08 per share, compared to a net loss of $3.8 million, or $0.10 per share, in Q1 2024. Cash used in operating activities was $2.7 million, a decrease from $3.2 million in Q1 2024. Adjusted EBITDA was $(2.8) million, compared to $(3.5) million in Q1 2024.
The MyoPro patient pipeline grew 33% to 1,482 patients, with a record 700 medically-qualified patients added in Q1 2025, despite temporary lead generation challenges. The company generated 213 MyoPro authorizations and orders, an 18% increase year-over-year.
Myomo reaffirmed its full-year 2025 revenue guidance of $50 million to $53 million, representing a 54% to 63% increase over 2024. The company expects Q2 2025 revenue to be in the range of $9.0 million to $9.5 million.
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