NYSE$MYO
Myomo Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Myomo's financial performance increased in Q2 2022, driven by revenue growth and pipeline expansion.
Myomo reported an 18% increase in product revenue to $3.7 million for Q2 2022, driven by a higher ASP. The patient pipeline grew significantly, with a record 420 new candidates added. Gross margin decreased due to higher product costs, and the company experienced an operating loss of $2.9 million.
- Product revenue increased by 18% year-over-year to $3.7 million.
- A record 420 new candidates were added to the patient pipeline, a 52% increase from Q2 2021.
- Gross margin decreased to 65.5% due to higher product costs.
- Direct billing channel represented 83% of revenue, contributing to a higher average selling price.
Headline financials
Revenue & EPS history
Myomo · Revenue · Quarterly
$3.68M
Forward guidance
Myomo anticipates sequential growth in the third quarter and beyond, driven by a significant backlog. While expecting lower year-over-year revenue in Q3, they remain confident in the accelerating pipeline as an indicator of future revenue and expect continued growth over the next 12 months.
Tailwinds
- Significant backlog anticipated to drive sequential growth.
- Accelerating pipeline indicates future revenue potential.
- Strong pipeline additions in the first half of the year are expected to support continued growth over the next 12 months.
- Marketing and operational efficiencies are expected to improve operating leverage in the coming quarters.
- Existing cash plus committed capital under the ELOC is sufficient to fund operations for at least the next 12 months.
Headwinds
- Expecting lower year-over-year revenue in the third quarter.
- Progress with joint venture in China impacted by COVID-19 restrictions.
- Balance of the license fee from the joint venture remains unpaid.
- Cannot forecast when the final payment will be received from the joint venture.
- Cannot forecast when they will begin providing any technology and know-how to support the start-up of the JV Company's operations.
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 2022
-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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