Myomo, Inc. Provides Revenue Guidance for the Second Quarter Ended June 30, 2024
July 08, 2024 at 08:45 am EDT
Share
Myomo, Inc. provided revenue guidance for the second quarter ended June 30, 2024. Revenues for the second quarter of 2024 are expected to be $7.2 million to $7.4 million, the highest quarterly revenues in the company's history. This is up 92% to 97% over the first quarter of 2024, and compares with the company's previous expectation for second quarter revenues to be at least $5.0 million.
Revenue units are expected to be between 155 and 160 in the second quarter of 2024, an increase of 70% to 76% compared with 91 revenue units in the first quarter of 2024.
Myomo, Inc. is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper-limb paralysis. It develops and markets the MyoPro product line. MyoPro is a powered upper-limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of certain patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury, ALS or other neuromuscular disease or injury. MyoPro senses a patientâs own electromyography (EMG) signals through non-invasive sensors on the arm, and can restore an individualâs ability to perform activities of daily living, including feeding themselves, carrying objects and doing household tasks. It provides devices directly to patients and bill their insurance companies directly. It also sells its products through various other sales channels, including through orthotics and prosthetics providers, the veteranâs administration, and others.
MYOMO, INC. 
