BURLINGTON, Mass. — Myomo Inc. reported higher first-quarter revenue as the medical robotics company continued shifting more of its business toward recurring patient sources and expanded access through insurer contracts.
The Burlington-based company, which develops wearable robotic devices for people with neurological disorders and upper-limb paralysis, reported revenue of $10.1 million for the quarter ended March 31, up 3% from $9.8 million in the same period last year.
Myomo said 49% of first-quarter revenue came from recurring patient sources, compared with 25% a year earlier. Revenue from the company’s U.S. orthotics and prosthetics channel rose 79% year over year.
“Earlier this year we established four success pillars for 2026, including growing revenue from recurring patient sources, increasing market access, demonstrating operating leverage and investing in innovation,” Paul Gudonis, Myomo’s chairman and chief executive officer, said in a statement. “With strong progress against each, first quarter revenue and operating results were above our targets.”
Gudonis said the company’s MyoConnect program is improving the quality of prospective patients and helping generate referrals through direct billing. Direct billing referrals accounted for 11% of pipeline additions and 16% of orders during the quarter, while the company also saw a sequential decline in cost per pipeline addition.
Myomo received 239 MyoPro orders during the quarter, up 12% from a year earlier. The company added 723 patients to its pipeline, a 7% increase from the previous quarter, while backlog rose to 226 patients as of March 31, up 14% from the end of 2025.
The company reported gross profit of $6.9 million, up from $6.6 million a year earlier. Gross margin improved to 68.2% from 67.2%, helped by a higher average selling price. Myomo said the average selling price was about $58,800, up 9% from the prior year.
Myomo recognized revenue on 172 MyoPro units during the quarter, down 5% from the same period last year. Medicare Part B patients represented 51% of first-quarter revenue.
Operating expenses declined 1% to $10.1 million, as lower research and development and general and administrative expenses offset higher sales, clinical and marketing costs. The company’s net loss narrowed to $3 million, or 7 cents per share, from $3.5 million, or 8 cents per share, a year earlier.
Adjusted EBITDA improved to a loss of $2.3 million, compared with a loss of $2.8 million in the first quarter of 2025.
Myomo ended the quarter with $15.7 million in cash, cash equivalents and short-term investments. Cash used in operating activities was $2.2 million, compared with $2.7 million a year earlier.
The company said it continues to expand in-network payer access and expects to have access to about 158 million covered lives once pending contracts are finalized, compared with 9 million covered lives two years ago.
Myomo also recently launched the Myomo Mobile App, which is designed to support clinicians and patients using the MyoPro system. The app replaces a laptop previously provided to each MyoPro patient, reducing material costs by more than 10%.
The company said a randomized controlled trial at the University of Utah has enrolled 18 of a planned 50 subjects. If successful, the trial could help increase authorization rates from Medicare Advantage payers.
“With a strong backlog entering the second quarter, we expect to grow revenue sequentially with modestly higher operating expenses from increased advertising spend as changes made in our marketing program continue to gain traction,” Gudonis said.
Myomo expects second-quarter revenue of $10.3 million to $10.8 million and reaffirmed its full-year revenue guidance of $43 million to $46 million.
