NYSE$MYO
Myomo Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Revenue exceeded projections as COVID-19 restrictions eased, and authorization backlog reached a record level, up 50% sequentially.
Myomo reported a 2% decrease in revenue compared to Q2 2019, totaling $0.9 million, but exceeded expectations due to strengthened deliveries and increased average selling prices as the U.S. economy began to re-open. The company's authorization backlog increased by 50% sequentially, reaching 120 units.
- Revenue was $0.9 million, down 2% year-over-year but exceeded the expected revenue range.
- Direct billing revenue increased 329% and represented 50% of total revenue.
- Operating expenses were $3.3 million, compared to $3.2 million in Q2 2019.
- Backlog was 120 units as of June 30, 2020, a 50% increase compared to March 31, 2020.
Headline financials
Revenue & EPS history
Myomo · Revenue · Quarterly
$859K
Forward guidance
Myomo expects to deliver a record number of MyoPro’s in the third quarter as it serves its growing backlog, which should result in significantly increased revenue in the months ahead.
Tailwinds
- Expects to deliver a record number of MyoPro’s in the third quarter.
- Anticipates significantly increased revenue in the months ahead.
- Provided staff with personal protective equipment (PPE) and training on proper and safe procedures.
- Has PPE available for patients during the MyoPro delivery process.
- Continues to experience strong demand for its product line while adding new initiatives such as the recently launched MyoCare™ program.
Headwinds
- If public health and travel restrictions are re-imposed, the Company may require additional capital to fund its operations during the second half of 2021.
- 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 ability to achieve reimbursement from third-party payers for our products.
- General market, economic, environmental and social factors that may affect the evaluation, fitting, delivery and sale of our products to patients.
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 Q2 2020
-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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