$MYO
MYOMO, INC.

2023 Q2 Form 10-Q Financial Statement

#000095017023020576 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $5.959M $3.447M $3.868M
YoY Change 62.02% -10.89% 65.54%
Cost Of Revenue $1.677M $1.139M $1.290M
YoY Change 32.4% -11.69% 106.99%
Gross Profit $4.281M $2.308M $2.578M
YoY Change 77.59% -10.49% 50.47%
Gross Profit Margin 71.85% 66.95% 66.65%
Selling, General & Admin $4.820M $4.502M $4.656M
YoY Change 3.34% -3.32% 13.03%
% of Gross Profit 112.59% 195.07% 180.62%
Research & Development $564.2K $477.0K $659.5K
YoY Change -10.85% -27.68% 25.39%
% of Gross Profit 13.18% 20.67% 25.58%
Depreciation & Amortization $51.99K $48.63K $45.63K
YoY Change 6.06% 6.58% 95.73%
% of Gross Profit 1.21% 2.11% 1.77%
Operating Expenses $5.384M $4.979M $5.316M
YoY Change 1.64% -6.35% 29.03%
Operating Profit -$1.103M -$2.671M -$2.738M
YoY Change -61.79% -2.44% 13.77%
Interest Expense $103.4K $86.31K -$790.00
YoY Change 2378.17% -11025.82% 558.33%
% of Operating Profit
Other Income/Expense, Net $85.29K $69.08K -$790.00
YoY Change -393.77% -8844.43% 563.87%
Pretax Income -$1.018M -$2.602M -$2.739M
YoY Change -65.09% -4.99% -6.61%
Income Tax -$3.562K $42.41K $76.26K
% Of Pretax Income
Net Earnings -$1.014M -$2.644M -$2.815M
YoY Change -65.14% -6.06% -4.93%
Net Earnings / Revenue -17.02% -76.72% -72.78%
Basic Earnings Per Share -$0.04 -$0.11 -$0.41
Diluted Earnings Per Share -$0.04 -$0.11 -$408.8K
COMMON SHARES
Basic Shares Outstanding 20.92M 20.92M 6.886M
Diluted Shares Outstanding 27.99M 24.20M 6.886M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.957M $9.264M $12.94M
YoY Change -12.5% -28.43% -25.49%
Cash & Equivalents $6.006M $9.264M $12.94M
Short-Term Investments $2.950M
Other Short-Term Assets $694.6K $535.6K $940.9K
YoY Change 53.99% -43.08% -5.79%
Inventory $1.337M $1.565M $1.029M
Prepaid Expenses
Receivables $1.642M $1.548M $1.693M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $12.63M $12.91M $16.60M
YoY Change -5.07% -22.24% -16.68%
LONG-TERM ASSETS
Property, Plant & Equipment $153.7K $190.7K $279.5K
YoY Change -45.74% -31.77% -71.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $102.8K $115.3K $199.0K
YoY Change -38.01% -42.07%
Other Assets $111.0K $111.0K $111.4K
YoY Change 0.0% -0.34%
Total Long-Term Assets $666.6K $824.0K $1.372M
YoY Change -46.93% -39.94% 38.0%
TOTAL ASSETS
Total Short-Term Assets $12.63M $12.91M $16.60M
Total Long-Term Assets $666.6K $824.0K $1.372M
Total Assets $13.30M $13.74M $17.98M
YoY Change -8.68% -23.59% -14.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $766.6K $906.8K $1.014M
YoY Change -10.82% -10.6% 42.06%
Accrued Expenses $3.393M $2.844M $3.636M
YoY Change 12.25% -21.8% 7.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.337M $3.934M $4.653M
YoY Change 11.66% -15.44% 13.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $139.8K $170.1K $454.3K
YoY Change -57.6% -62.56% -40.14%
Total Long-Term Liabilities $139.8K $170.1K $454.3K
YoY Change -57.6% -62.56% -40.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.337M $3.934M $4.653M
Total Long-Term Liabilities $139.8K $170.1K $454.3K
Total Liabilities $4.477M $4.104M $5.107M
YoY Change 6.24% -19.64% 5.17%
SHAREHOLDERS EQUITY
Retained Earnings -$92.44M -$91.43M -$80.90M
YoY Change 10.31% 13.01%
Common Stock $101.2M $101.0M
YoY Change 7.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.464K $6.464K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $8.820M $9.632M $12.87M
YoY Change
Total Liabilities & Shareholders Equity $13.30M $13.74M $17.98M
YoY Change -8.68% -23.59% -14.08%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.014M -$2.644M -$2.815M
YoY Change -65.14% -6.06% -4.93%
Depreciation, Depletion And Amortization $51.99K $48.63K $45.63K
YoY Change 6.06% 6.58% 95.73%
Cash From Operating Activities -$285.5K -$1.817M -$2.300M
YoY Change -89.22% -21.01% 9.52%
INVESTING ACTIVITIES
Capital Expenditures $14.97K $45.09K $49.88K
YoY Change -128.36% -9.61% 12.12%
Acquisitions
YoY Change
Other Investing Activities -$2.949M $0.00 -$199.0K
YoY Change -100.0%
Cash From Investing Activities -$2.964M -$45.09K -$248.9K
YoY Change 5513.94% -81.88% 459.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.150K 5.772M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -285.5K -1.817M -2.300M
Cash From Investing Activities -2.964M -45.09K -248.9K
Cash From Financing Activities -8.150K 5.772M 0.000
Net Change In Cash -3.257M 3.918M -2.582M
YoY Change 20.6% -251.73% -150.33%
FREE CASH FLOW
Cash From Operating Activities -$285.5K -$1.817M -$2.300M
Capital Expenditures $14.97K $45.09K $49.88K
Free Cash Flow -$300.5K -$1.862M -$2.350M
YoY Change -88.42% -20.77% 9.58%

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CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2023Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
39417
CY2022Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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CY2023Q1 myo Increase Decrease In Operating Lease Liabilities
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CY2022Q1 myo Increase Decrease In Operating Lease Liabilities
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CY2023Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-20093
CY2022Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1650
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0
CY2022Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
199000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
45085
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
49879
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-45085
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3708045
CY2022Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
CY2023Q1 myo Proceeds From At The Market Offering Net Of Offering Costs
ProceedsFromAtTheMarketOfferingNetOfOfferingCosts
2064012
CY2022Q1 myo Proceeds From At The Market Offering Net Of Offering Costs
ProceedsFromAtTheMarketOfferingNetOfOfferingCosts
0
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5772057
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3917593
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
15524378
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9263560
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
12942507
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
225665
CY2023Q1 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
91952
CY2022Q1 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
0
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Note 1 — Description of Business</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Myomo Inc. (“Myomo” or the Company”) is a wearable medical robotics company that develops, designs, and produces myoelectric orthotics for people with neuromuscular disorders. The MyoPro ® myoelectric upper limb orthosis product is registered with the U.S. Food and Drug Administration as a Class II medical device. The Company sells its products directly to patients, to Orthotics and Prosthetics ("O&amp;P") providers around the world, the Veterans Health Administration, and distributors in Europe and Australia.</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Calibri&quot;, sans-serif;min-width:fit-content;"> </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company was incorporated in the State of Delaware on September 1, 2004 and is headquartered in Boston, Massachusetts.</span></p>
CY2023Q1 myo Net Loss Income
NetLossIncome
2644300
CY2022Q1 myo Net Loss Income
NetLossIncome
2815000
CY2023Q1 myo Accumulated Deficit
AccumulatedDeficit
91427500
CY2022Q4 myo Accumulated Deficit
AccumulatedDeficit
88783200
CY2023Q1 myo Net Cash Provided By Used In Operating Activity
NetCashProvidedByUsedInOperatingActivity
1816700
CY2022Q1 myo Net Cash Provided By Used In Operating Activity
NetCashProvidedByUsedInOperatingActivity
2322600
CY2023Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
13169074
CY2023Q1 myo Salesofprefundedwarrants
Salesofprefundedwarrants
6830926
CY2023Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.325
CY2023Q1 myo Per Sale Price Of Warrants
PerSalePriceOfWarrants
0.3249
CY2023Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
5700000
CY2023Q1 myo Costreductionactivities
Costreductionactivities
0.12
CY2023Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
2000000.0
CY2023Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
5000000
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain prior year amounts have been reclassified to conform to current year's presentation, which management does not consider to be material.</span></p>
CY2023Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0
CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America require management to make estimates and assumptions that affect certain reported amounts and disclosures. These estimates and assumptions are reviewed on an on-going basis and updated as appropriate. Actual results could differ from these estimates. The Company’s significant estimates include deferred tax valuation allowances, valuation of stock-based compensation, warranty obligations and reserves for slow-moving inventory.</span></p>
CY2023Q1 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2023Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
17200
CY2023Q1 myo Percentage Of Direct Billing Channel Revenue Insures Represent
PercentageOfDirectBillingChannelRevenueInsuresRepresent
0.63
CY2022Q1 myo Percentage Of Direct Billing Channel Revenue Insures Represent
PercentageOfDirectBillingChannelRevenueInsuresRepresent
0.53
CY2023Q1 us-gaap Deferred Revenue
DeferredRevenue
1100
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
21200
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3446708
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3867926
CY2023Q1 us-gaap Advertising Expense
AdvertisingExpense
691500
CY2022Q1 us-gaap Advertising Expense
AdvertisingExpense
953400
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1378461
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1005871
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.0001
CY2023Q1 myo Common Stock Equivalents Pre Funded Warrants
CommonStockEquivalentsPreFundedWarrants
6830926
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
439091
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
512028
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
17422
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
18971
CY2023Q1 myo Inventory Rental Units
InventoryRentalUnits
51694
CY2022Q4 myo Inventory Rental Units
InventoryRentalUnits
51694
CY2023Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1133617
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
903581
CY2023Q1 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
1641824
CY2022Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
1486274
CY2023Q1 myo Inventory Reserve For Rental Units
InventoryReserveForRentalUnits
76556
CY2022Q4 myo Inventory Reserve For Rental Units
InventoryReserveForRentalUnits
86409
CY2023Q1 us-gaap Inventory Net
InventoryNet
1565268
CY2022Q4 us-gaap Inventory Net
InventoryNet
1399865
CY2023Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
7894919
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
4350657
CY2023Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
906805
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
569681
CY2023Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1234164
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1059228
CY2023Q1 myo Professional Fees Accrued Current
ProfessionalFeesAccruedCurrent
123797
CY2022Q4 myo Professional Fees Accrued Current
ProfessionalFeesAccruedCurrent
124548
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
129930
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
234647
CY2023Q1 myo Accrued Liabilities Customer Deposit
AccruedLiabilitiesCustomerDeposit
932589
CY2022Q4 myo Accrued Liabilities Customer Deposit
AccruedLiabilitiesCustomerDeposit
753232
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
148258
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
345596
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
3475543
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
3086932
CY2023Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
13169074
CY2023Q1 myo Salesofprefundedwarrants
Salesofprefundedwarrants
6830926
CY2023Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.325
CY2023Q1 myo Per Sale Price Of Warrants
PerSalePriceOfWarrants
0.3249
CY2023Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
5700000
CY2023Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.0001
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
7.50
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
688250
CY2023Q1 myo Number Of Exercised Warrants
NumberOfExercisedWarrants
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
2821
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
10151
CY2023Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2022Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1700
CY2023Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
0
CY2022Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
0
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1950
CY2023Q1 us-gaap Lease Cost
LeaseCost
125650
CY2022Q1 us-gaap Lease Cost
LeaseCost
118561
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
171027
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
266270
CY2023Q1 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
135000
CY2023Q1 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company has a non-cancelable sublease agreement for its corporate headquarters in Boston, MA expiring in 2023. In conjunction with entering into a non-cancelable lease agreement for its manufacturing space in Boston, the Company agreed to enter into a lease for its corporate headquarters, which together with its leased office space in Fort Worth, TX, both expire in 2025. The Fort Worth, TX, lease has the option to terminate early, which is available at the Company’s discretion in 2023. Termination options were not included in the lease term for the Company’s existing operating leases. Certain arrangements have discounted rent periods or escalating rent payment provisions. Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheets. We recognize rent expense on a straight-line basis over the lease term.
CY2023Q1 myo Operating Lease Right Of Use Assets
OperatingLeaseRightOfUseAssets
406900
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
287223
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
159872
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
67981
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
0
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
0
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
0
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
515076
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
70278
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
444798
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
275028
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
169770
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
444798
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
125650
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
116611
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.20

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