Myomo, Inc. Provides Revenue Guidance for the Second Quarter of 2022
July 07, 2022 at 04:05 pm
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Myomo, Inc. provided revenue guidance for the second quarter of 2022. For the quarter, the company's revenue for the second quarter of 2022 is expected to be $3.4 million to $3.6 million, an increase of 10% to 16% compared with the second quarter of 2021. All revenue in the second quarter of 2022 was product revenue, as the Company did not receive payment of the remaining license fee from its joint venture partner in China.
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. 
