24/7 Market News Snapshot 10 March, 2025 – Myomo Inc. (NYSE:MYO)
DENVER, Colo., 10 March, 2025 (247marketnews.com) – (NYSE:MYO) are discussed in this article.
Myomo, Inc., a leader in wearable medical robotics, has marked significant milestones in its growth trajectory, reflected in its current trading performance and fourth-quarter financial results. Today, Myomo opened at $4.69, showing a robust bullish movement with a 10.5% increase, and is currently trading at $5.08 on a volume of 631,180 shares. This heightened activity indicates strong investor interest and may signal a potential breakout above key resistance levels, highlighting an opportune moment for traders to engage with this stock, particularly as the healthcare technology sector witnesses renewed momentum.
The company’s fourth-quarter earnings for 2024 showcased remarkable performance, with record revenue of $12.1 million—a 154% jump from the same period in 2023. This surge was supported by significant increases in unit sales and average selling prices, with Myomo delivering 220 MyoPro devices during the quarter, reflecting a 106% year-over-year growth. For the year ending December 31, 2024, total revenue reached $32.6 million, a testament to the company’s commitment to servicing patients with neurological disorders and upper-limb paralysis.
Gross margins also saw improvement, climbing to 71.4% due to elevated selling prices and streamlined operational practices. Furthermore, Myomo generated $3.4 million in operating cash flow during Q4, marking its inaugural positive cash flow. This financial strength culminated in a cash reserve of $24.9 million, positioning the company favorably for future endeavors.
Paul R. Gudonis, Chairman and CEO, emphasized that Myomo’s achievements reflect a transformative year, with optimistic revenue projections for 2025 ranging between $50 million and $53 million. The company is dedicated to enhancing the lives of those with upper-limb paralysis through its innovative MyoPro products and remains committed to leading advancements in the medical robotics industry.