NYSE$MYO
Myomo Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported year-over-year growth in revenue and operating metrics.
Myomo reported Q2 2023 revenue of $6.0 million, which includes license revenue. The company saw growth across key operational metrics, including a 21% increase in revenue units and a 23% increase in MyoPro orders and insurance authorizations.
- Total revenue reached $6.0 million, which includes license revenue.
- Product revenue was $4.2 million, up 15%.
- Gross margin increased to 71.8%, up 650 basis points.
- Patient pipeline increased by 27% to 969 MyoPro candidates.
Headline financials
Revenue & EPS history
Myomo · Revenue · Quarterly
$5.96M
Forward guidance
The backlog entering the third quarter is slightly higher than the backlog entering the second quarter. Expect to achieve modest year-over-year revenue growth in the third quarter, while sequential revenue growth will depend on the number of new orders during the third quarter that can be delivered for revenue given the anticipated ASP. Meeting our target for full year product revenue growth of 20% to 30% will depend on the number of insurance authorizations we receive in the next few months.
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 2023
-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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