NYSE$MYO
Myomo Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Myomo's Q1 2021 financial results were announced, featuring a significant revenue increase and improved gross margin.
Myomo reported a strong first quarter with revenue up 132% year-over-year to $2.3 million and a gross margin of 73%, which is up 500 basis points. The company saw a 14% decrease in cash used in operations, amounting to $2.1 million. They also highlighted progress in international markets and an increase in their reimbursement pipeline.
- Revenue increased by 132% to $2.3 million compared to the prior year.
- Gross margin improved to 73%, up 500 basis points from the previous year.
- Reimbursement pipeline grew by 22%, consisting of 940 MyoPro units.
- Operating loss narrowed to $2.9 million from $3.4 million year over year.
Headline financials
Revenue & EPS history
Myomo · Revenue · Quarterly
$2.34M
Forward guidance
Myomo anticipates a similar number of pipeline additions in Q2 2021 as in Q1, expecting this to translate into increased insurance authorizations. They project year-over-year revenue growth in the second quarter to align with the growth rate seen in the first quarter.
Tailwinds
- Expected pipeline additions in Q2 to be approximately equal to Q1.
- Anticipated growth in insurance authorizations in Q2.
- Projected year-over-year revenue growth in Q2 in line with Q1.
- Existing cash is sufficient to fund operations well into 2022.
- Continued progress in international markets.
Headwinds
- Cash used by operations is expected to increase in the second quarter of 2021 due to annual incentive compensation payments.
- The direct and indirect impact of the novel coronavirus (COVID-19) on our business and operations, including fabrication and delivery, sales, patient consultations, supply chain, manufacturing, insurance reimbursements and employees.
- Our ability to continue normal operations and patient interactions in order to cast, deliver and fit our custom-fabricated device.
- Our marketing and commercialization efforts.
- Our ability to achieve reimbursement from third-party payers for our products.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
-5.0%
Avg return
Earnings day
-5.9%
Avg return
5 days after
-2.6%
Avg return
30 days after
23%
8 / 35 earnings
Positive
+40.8%
Q4 2024
Best reaction
-39.2%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.5% | -10.3% | +50.1% | |
| Q4 2025 | -17.6% | -14.1% | -13.7% | |
| Q3 2025 | -3.3% | -11.0% | +17.8% | |
| Q1 2025 | -30.8% | -34.1% | -38.4% | |
| Q4 2024 | +40.8% | +24.5% | +2.9% | |
| Q3 2024 | +26.8% | +23.7% | +52.0% | |
| Q2 2024 | -10.8% | -1.5% | -7.6% | |
| Q1 2024 | -1.7% | +0.6% | -6.4% | |
| Q4 2023 | -13.3% | +3.3% | -17.1% | |
| Q3 2023 | +13.9% | +28.3% | +158.4% | |
| Q2 2023 | -0.3% | +9.4% | +65.6% | |
| Q1 2023 | -5.6% | -7.5% | -13.0% | |
| Q4 2022 | -3.1% | -6.8% | +1.4% | |
| Q3 2022 | -31.6% | -28.6% | -59.9% | |
| Q2 2022 | -6.1% | -4.4% | -0.6% | |
| Q1 2022 | -6.4% | -6.1% | -20.9% | |
| Q4 2021 | -39.2% | -41.6% | -46.5% | |
| Q3 2021 | -7.6% | -6.9% | -25.3% | |
| Q2 2021 | +15.4% | +22.5% | +32.7% | |
| Q1 2021 | -3.5% | -12.5% | -0.7% | |
| Q4 2020 | +1.4% | +20.0% | -3.2% | |
| Q3 2020 | +20.7% | +11.8% | +39.2% | |
| Q2 2020 | -1.8% | +0.8% | -5.6% | |
| Q1 2020 | -14.6% | -11.0% | -18.1% | |
| Q4 2019 | -20.5% | -30.1% | -16.7% | |
| Q3 2019 | -21.0% | -25.1% | -32.4% | |
| Q2 2019 | -0.8% | -3.5% | -3.7% | |
| Q1 2019 | -8.3% | -23.1% | -37.2% | |
| Q4 2018 | +6.6% | +4.9% | -2.5% | |
| Q3 2018 | -4.2% | -3.7% | -18.1% | |
| Q2 2018 | -5.5% | -8.3% | -9.6% | |
| Q1 2018 | -12.0% | -2.2% | -10.9% | |
| Q4 2017 | -3.6% | -19.3% | -38.2% | |
| Q3 2017 | -24.9% | -28.9% | -64.3% | |
| Q2 2017 | -5.7% | -14.1% | -0.3% | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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