MYO

EX-99.1

2 myo-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Myomo Reports First Quarter 2026 Financial and Operating Results

Revenue of $10.1 million with 49% of first quarter revenue from recurring patient sources

MyoPro® orders received during the quarter were up 12% year-over-year

Expanded gross margin, lower operating expenses and narrowed net loss

Conference call begins at 4:30pm Eastern time today

BURLINGTON, Mass. (May 7, 2026) – Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today reported financial results for the three months ended March 31, 2026.

“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. With strong progress against each, first quarter revenue and operating results were above our targets. We are effectively shifting our business toward recurring patient sources, which represented 49% of revenue in the quarter, up from 25% a year ago. Our MyoConnect program is ramping up nicely and enhancing the clinical quality of prospective patients as well. This resulted in 11% of pipeline adds and 16% of orders generated by direct billing referrals in the quarter, with the added benefit of a sequential decline in cost per pipeline add," said Paul Gudonis, Myomo's Chairman and Chief Executive Officer.

Success Pillar Accomplishments:

• Shift to Recurring Patient Sources: 49% of first quarter revenue was derived from recurring patient sources, up from 42% in the fourth quarter of 2025 and 25% in the first quarter of 2025. Revenue from the U.S. O&P channel increased 79% year-over-year.

• Increase Market Access with Additional Payer Contracts: The Company continues to expand in-network payer access, including new state contracts with Elevance's Anthem Blue Cross Blue Shield Network as previously announced, with additional contracts pending. Once finalized, Myomo will have in-network access to approximately 158 million covered lives, up from 9 million covered lives two years ago. In-network access increases revenue velocity and is already having a positive effect on authorization rates.

• Demonstrate Operating Leverage: Revenues increased 3% year-over-year, while operating expenses decreased 1%. In addition, gross margin expanded by 100 basis points year-over year, contributing to a 20% improvement in Adjusted EBITDA.

• Invest in Product Development and Clinical Research: The Company recently launched the Myomo Mobile App, a new tool designed to support clinicians and patients throughout the MyoPro experience. The Mobile App replaces a laptop computer that was previously provided to every MyoPro patient, thereby improving practitioner and patient access while reducing the Company's material cost by more than 10%. The randomized controlled trial underway at the University of Utah has enrolled 18 of a planned 50 subjects, which, if successful, is expected to lead to higher authorization rates from Medicare Advantage payers.

Results of Key Operating Metrics:

• 723 patients were added to the pipeline in the first quarter of 2026, up 7% sequentially, while cost per pipeline add was $2,550, down 16% sequentially;

• 239 orders were received in the first quarter of 2026, up 12% year-over-year; and

• Backlog as of March 31, 2026 was 226 patients, up 14% compared with December 31, 2025.

Financial Results

For the Three Months Ended March 31,

Period- to-Period Change

2026

2025

$

%

Revenue

$

10,113,288

$

9,831,814

$

281,474

3

%

Cost of revenue

3,211,682

3,222,184

(10,502

)

(0

)%

Gross profit

$

6,901,606

$

6,609,630

$

291,976

4

%

Gross margin %

68.2

%

67.2

%

1.0

%

Revenue: Revenue for the first quarter of 2026 was $10.1 million, up 3% compared with the first quarter of 2025, reflecting a higher average selling price ("ASP"), partially offset by a modest decrease in the number of revenue units. ASP was approximately $58,800, up 9% versus the prior year. Myomo recognized revenue on 172 MyoPro units in the quarter, down 5% over the same period a year ago. Medicare Part B patients represented 51% of first quarter 2026 revenue.

Gross Margin: Gross margin for the first quarter of 2026 was 68.2%, compared with 67.2% for the first quarter of 2025. The increase was driven primarily by the higher ASP, partially offset by higher clinical costs classified to cost of goods sold.

Operating Expenses: Operating expenses for the first quarter of 2026 were $10.1 million, a decrease of 1% compared with the first quarter of 2025. The decrease was primarily due to lower research and development and general and administrative expenses, partially offset by higher sales, clinical and marketing expenses, including higher advertising expense. Cost per pipeline

8-K

false000136929000013692902026-03-092026-03-09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 9, 2026 Myomo, Inc. (Exact Name of Company as Specified in Charter)

Delaware

001-38109

47-0944526

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

45 Blue Sky Dr., Suite 101 Burlington, MA

01803

(Address of Principal Executive Offices)

(Zip Code)

Company’s telephone number, including area code: (617) 996-9058 Not applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value per share

MYO

NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On March 9, 2026, Myomo, Inc, (the "Company") announced its financial results for the fourth quarter and full year ended December 31, 2025. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Form 8-K (including Exhibit 99.1) is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. Item 9.01. (d) Exhibits

Exhibit No.

Description

99.1

Press release issued by Myomo, Inc. on March 9, 2026, furnished herewith.

104

The cover page from the Company’s Form 8-K dated March 9, 2026, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MYOMO, INC.

Date:

March 9, 2026

By:

/s/ David A. Henry

David A. Henry Chief Financial Officer

8-K

0001369290false00013692902025-11-042025-11-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 4, 2025 Myomo, Inc. (Exact Name of Company as Specified in Charter)

Delaware

001-38109

47-0944526

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

45 Blue Sky Dr., Suite 101 Burlington, MA

01803

(Address of Principal Executive Offices)

(Zip Code)

Company’s telephone number, including area code: (617) 996-9058 Not applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value per share

MYO

NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement On November 4, 2025 (the “Closing Date”), Myomo, Inc. (the “Company”) entered into a Loan and Security Agreement (the “Loan and Security Agreement”), with Avenue Capital Management II, L.P., as administrative agent and collateral agent (the “Agent”) and Avenue Venture Opportunities Fund II, L.P., as a lender (the “Lender”). Also on November 4, 2025, the Company entered into a Supplement to the Loan and Security Agreement (the “Supplement” and together with the Loan and Security Agreement, the “Loan Agreement”) with the Agent and the Lender. The Loan Agreement provides for committed term loans in an aggregate principal amount of up to $17.5 million with (a) $12.5 million funded on the Closing Date (“Tranche 1”) and (b) up to $5.0 million to be funded at any time between November 4, 2026 and May 4, 2027, so long as no default or event of default has occurred and is continuing. Upon the mutual agreement of the Company and the Lender, the Lender may make additional term loans of up to an additional $10.0 million (the “Discretionary Tranche 3” and collectively with Tranche 1 and Tranche 2, the “Loans”), to be funded between January 1, 2027 and December 31, 2027, as the Company and the Lenders may mutually agree. The Loans bear interest at an annual rate equal to the sum of 4.75% and the prime rate as reported in The Wall Street Journal, subject to a prime floor equal to The Wall Street Journal prime rate on Closing Date. The maturity date of the Loans is June 1, 2029 (the “Maturity Date”). The Company will make interest only payments on the Loans until the 18-month anniversary of the Closing Date, subject to a 6-month extension if the funding of Tranche 2 has occurred. The Loan principal is repayable in equal monthly installments from the end of interest only period to the Maturity Date. The Company may, at its option at any time, prepay the Loans in their entirety by paying the then outstanding principal balance and all accrued and unpaid interest on the Loans, subject to a prepayment fee equal to(i) 3.0% of the principal amount outstanding if the prepayment occurs on or prior to the first anniversary following the Closing Date, (ii) 2.0% of the principal amount outstanding if the prepayment occurs after the first anniversary following the Closing Date, but on or prior to the second anniversary following the Closing Date, and (iii) 1.0% of the principal amount outstanding if the prepayment occurs after the second anniversary following the Closing Date. A final payment fee of 3.25% of the principal amount of the Loans (subject to certain reductions), is also due upon the Maturity Date or earlier date of prepayment of the Loans. The Loan is secured by a lien upon and security interest in all of the Company’s assets, including intellectual property, in which the Agent is granted senior secured lien. Pursuant to the Loan Agreement, th