BURLINGTON, Mass. — Myomo reported a 21 percent increase in second-quarter revenue and raised its full-year outlook as sales of its wearable robotic devices increased and profit margins improved.
Revenue rose to $11.7 million from $9.7 million in the same quarter last year. The company recognized revenue from 211 MyoPro units, up 19 percent year over year.
Myomo reported a net loss of $4 million, or 9 cents per share, compared with a loss of $4.6 million, or 11 cents per share, a year earlier. The latest quarter included a $1.2 million non-cash charge related to the value of derivative liabilities.
The company’s operating loss narrowed to $2.3 million from $4.6 million, while its adjusted EBITDA loss improved to $800,000 from $4 million.
Gross margin increased to 72.1 percent from 62.7 percent, helped by a higher average selling price and lower product costs. The average selling price was approximately $55,500, up 2 percent from a year earlier.
Operating expenses were $10.7 million, little changed from the second quarter of 2025. Higher general and administrative costs were partly offset by lower research and development and advertising expenses.
Myomo raised its full-year revenue guidance to between $45 million and $47 million, representing expected growth of about 10 percent to 15 percent from the prior year.
The company expects third-quarter revenue of $11.5 million to $12 million, up between 14 percent and 19 percent year over year. It also expects cash burn of less than $2 million during the second half of 2026.
“Our growing clinical referral network and the increased market awareness of our wearable robotics platform will lead to greater adoption by rehab clinicians,” Chairman and CEO Paul R. Gudonis said.
Myomo said 53 percent of second-quarter revenue came from recurring patient sources, including provider referrals, orthotics and prosthetics partners and the Department of Veterans Affairs. That compared with 26 percent a year earlier.
Revenue from U.S. orthotics and prosthetics partners increased 130 percent, while international revenue rose 32 percent.
The company added 739 patients to its pipeline during the quarter and recorded 255 orders, a 23 percent increase from a year earlier. Pipeline additions through its MyoConnect referral program increased 40 percent from the previous quarter.
Myomo said its payer network, including Medicare and Veterans Affairs patients, now provides access to more than 100 million covered lives.
The company is also conducting a randomized clinical trial at the University of Utah, which has enrolled 25 of a planned 50 participants. Development of its next-generation MyoPro 3 device is continuing, and Myomo recently introduced a prototype hand-only system for the German market.
Myomo ended the quarter with $13.5 million in cash, cash equivalents and short-term investments. It used $1.9 million in operating cash during the quarter, compared with $8.9 million a year earlier.
