$MYO
MYOMO, INC.

2023 Q4 Form 10-Q Financial Statement

#000095017023060417 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $4.756M $5.080M
YoY Change 17.69% 28.01%
Cost Of Revenue $1.652M $1.591M
YoY Change 16.8% 19.49%
Gross Profit $3.105M $3.489M
YoY Change 18.16% 32.3%
Gross Profit Margin 65.28% 68.68%
Selling, General & Admin $4.660M $4.796M
YoY Change 6.95% 0.65%
% of Gross Profit 150.09% 137.47%
Research & Development $878.0K $717.3K
YoY Change 75.72% 3.89%
% of Gross Profit 28.28% 20.56%
Depreciation & Amortization $27.89K $35.80K
YoY Change -43.15% -27.07%
% of Gross Profit 0.9% 1.03%
Operating Expenses $5.538M $5.513M
YoY Change 14.02% 1.06%
Operating Profit -$2.433M -$2.024M
YoY Change 9.14% -28.18%
Interest Expense $38.56K $112.3K
YoY Change -2.97% 287.79%
% of Operating Profit
Other Income/Expense, Net $5.310K $41.71K
YoY Change -582.73% 238.9%
Pretax Income -$2.389M -$1.983M
YoY Change 9.07% -29.35%
Income Tax $70.80K $46.36K
% Of Pretax Income
Net Earnings -$2.460M -$2.029M
YoY Change 13.5% -28.3%
Net Earnings / Revenue -51.72% -39.95%
Basic Earnings Per Share -$0.06
Diluted Earnings Per Share -$0.07 -$0.06
COMMON SHARES
Basic Shares Outstanding 26.52M 21.10M
Diluted Shares Outstanding 35.27M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.866M $11.12M
YoY Change 65.84% 49.87%
Cash & Equivalents $6.871M $6.912M
Short-Term Investments $1.995M $4.209M
Other Short-Term Assets $598.9K $920.1K
YoY Change 4.43% 66.17%
Inventory $1.804M $1.485M
Prepaid Expenses
Receivables $2.383M $2.517M
Other Receivables $0.00 $0.00
Total Short-Term Assets $13.65M $16.04M
YoY Change 48.13% 45.15%
LONG-TERM ASSETS
Property, Plant & Equipment $175.8K $172.0K
YoY Change -9.52% -28.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $32.65K
YoY Change -100.0% -78.11%
Other Assets $91.24K $91.24K
YoY Change -17.83% -17.83%
Total Long-Term Assets $930.6K $1.012M
YoY Change -1.69% -8.44%
TOTAL ASSETS
Total Short-Term Assets $13.65M $16.04M
Total Long-Term Assets $930.6K $1.012M
Total Assets $14.58M $17.05M
YoY Change 43.49% 40.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.073M $1.218M
YoY Change -18.86% 38.59%
Accrued Expenses $4.299M $4.464M
YoY Change 94.5% 38.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.477M $5.778M
YoY Change 52.06% 40.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $115.2K $253.2K
YoY Change -42.62% 14.27%
Total Long-Term Liabilities $115.2K $253.2K
YoY Change -42.62% 14.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.477M $5.778M
Total Long-Term Liabilities $115.2K $253.2K
Total Liabilities $5.592M $6.031M
YoY Change 47.06% 39.12%
SHAREHOLDERS EQUITY
Retained Earnings -$96.93M -$94.47M
YoY Change 9.18% 9.09%
Common Stock $105.8M $105.5M
YoY Change 11.29% 11.7%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.464K $6.464K
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $8.989M $11.02M
YoY Change
Total Liabilities & Shareholders Equity $14.58M $17.05M
YoY Change 43.49% 40.28%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$2.460M -$2.029M
YoY Change 13.5% -28.3%
Depreciation, Depletion And Amortization $27.89K $35.80K
YoY Change -43.15% -27.07%
Cash From Operating Activities -$2.356M -$1.715M
YoY Change -4.4% -38.73%
INVESTING ACTIVITIES
Capital Expenditures $31.67K $54.09K
YoY Change 836.98% -1042.33%
Acquisitions
YoY Change
Other Investing Activities $2.326M -$1.261M
YoY Change
Cash From Investing Activities $2.294M -$1.315M
YoY Change -67983.14% 22815.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.00 3.950M
YoY Change -99.99%
NET CHANGE
Cash From Operating Activities -2.356M -1.715M
Cash From Investing Activities 2.294M -1.315M
Cash From Financing Activities 30.00 3.950M
Net Change In Cash -61.26K 919.4K
YoY Change -97.07% -132.78%
FREE CASH FLOW
Cash From Operating Activities -$2.356M -$1.715M
Capital Expenditures $31.67K $54.09K
Free Cash Flow -$2.387M -$1.769M
YoY Change -3.25% -36.67%

Facts In Submission

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dei Entity Address Postal Zip Code
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dei Entity Registrant Name
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MYOMO, INC.
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dei Entity Tax Identification Number
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CY2023Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
31
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
330394
CY2023Q3 us-gaap Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
UnrealizedGainLossOnForeignCurrencyDerivativesNetBeforeTax
-47072
CY2023Q3 myo Unrealized Gain On Short Term Investments
UnrealizedGainOnShortTermInvestments
774
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2029016
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
11023111
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
15409131
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
266270
CY2022Q1 us-gaap Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
UnrealizedGainLossOnForeignCurrencyDerivativesNetBeforeTax
9245
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2814934
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
12869712
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
345223
CY2022Q2 us-gaap Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
UnrealizedGainLossOnForeignCurrencyDerivativesNetBeforeTax
41583
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-2908922
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
10347596
CY2022Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
305633
CY2022Q3 us-gaap Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
UnrealizedGainLossOnForeignCurrencyDerivativesNetBeforeTax
1617
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-2829716
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
7821896
us-gaap Profit Loss
ProfitLoss
-5687461
us-gaap Profit Loss
ProfitLoss
-8553572
us-gaap Depreciation
Depreciation
136416
us-gaap Depreciation
Depreciation
143742
us-gaap Share Based Compensation
ShareBasedCompensation
781513
us-gaap Share Based Compensation
ShareBasedCompensation
917126
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12626
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
26075
us-gaap Debt And Equity Securities Realized Gain Loss
DebtAndEquitySecuritiesRealizedGainLoss
-99840
us-gaap Debt And Equity Securities Realized Gain Loss
DebtAndEquitySecuritiesRealizedGainLoss
-49860
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
301053
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
253611
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
49271
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-99771
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
625596
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-362759
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
90100
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
752720
myo Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
439584
myo Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
-240050
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-19797
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
15705
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2141978
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-264182
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-74944
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0
myo Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-352820
myo Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-298380
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
9533
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
22244
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3817019
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7769321
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
199000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
5209866
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
0
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
1000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
0
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
114151
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
108408
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4324017
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-307408
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
8147
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
0
myo Proceeds From Sale Of Common Stock And Pre Funded Warrants Net Of Offering Costs
ProceedsFromSaleOfCommonStockAndPreFundedWarrantsNetOfOfferingCosts
9721573
myo Proceeds From Sale Of Common Stock And Pre Funded Warrants Net Of Offering Costs
ProceedsFromSaleOfCommonStockAndPreFundedWarrantsNetOfOfferingCosts
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9713426
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-6610
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-27629
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1565780
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8104358
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5345967
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
15524378
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6911747
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7420020
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
508186
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
225665
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
91952
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
0
myo Unrealized Loss From Mark To Market On Short Term Investments
UnrealizedLossFromMarkToMarketOnShortTermInvestments
860
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
50000
myo Issuance Of Common Stock Value As Commitment Fee For Future Financing
IssuanceOfCommonStockValueAsCommitmentFeeForFutureFinancing
0
myo Issuance Of Common Stock Value As Commitment Fee For Future Financing
IssuanceOfCommonStockValueAsCommitmentFeeForFutureFinancing
5
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1 — Description of Business</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:'Calibri',sans-serif;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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>
CY2023Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
11120400
myo Net Loss Income
NetLossIncome
5687500
myo Net Loss Income
NetLossIncome
8553600
CY2023Q3 myo Accumulated Deficit
AccumulatedDeficit
94470700
myo Net Cash Provided By Used In Operating Activity
NetCashProvidedByUsedInOperatingActivity
3816500
myo Net Cash Provided By Used In Operating Activity
NetCashProvidedByUsedInOperatingActivity
7769300
CY2023Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
5413334
CY2023Q3 myo Salesofprefundedwarrants
Salesofprefundedwarrants
1920000
CY2023Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.6
CY2023Q3 myo Per Sale Price Of Warrants
PerSalePriceOfWarrants
0.5999
CY2023Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
3900000
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
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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>
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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 the allowance for doubtful accounts, deferred tax valuation allowances, valuation of stock-based compensation, warranty obligations and reserves for slow-moving inventory.</span></p>
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6911747
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5345967
CY2023Q3 us-gaap Short Term Investments
ShortTermInvestments
4208613
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
0
CY2023Q3 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2023Q3 myo Percentage Of Direct Billing Channel Revenue Insures Represent
PercentageOfDirectBillingChannelRevenueInsuresRepresent
0.69
CY2022Q3 myo Percentage Of Direct Billing Channel Revenue Insures Represent
PercentageOfDirectBillingChannelRevenueInsuresRepresent
0.41
myo Percentage Of Direct Billing Channel Revenue Insures Represent
PercentageOfDirectBillingChannelRevenueInsuresRepresent
0.61
myo Percentage Of Direct Billing Channel Revenue Insures Represent
PercentageOfDirectBillingChannelRevenueInsuresRepresent
0.43
CY2023Q3 us-gaap Deferred Revenue
DeferredRevenue
30700
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
21200
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5079523
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3968201
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14484775
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11513702
CY2023Q3 us-gaap Advertising Expense
AdvertisingExpense
822500
CY2022Q3 us-gaap Advertising Expense
AdvertisingExpense
1048200
us-gaap Advertising Expense
AdvertisingExpense
2360400
us-gaap Advertising Expense
AdvertisingExpense
3037800
CY2023Q3 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
47100
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
50500
CY2022Q3 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
1600
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
49200
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2315167
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1211854
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.0001
CY2023Q3 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
8750926
CY2023Q3 myo Common Stock Equivalents Pre Funded Warrants
CommonStockEquivalentsPreFundedWarrants
8750926
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
245489
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
512028
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
4393
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
18971
CY2023Q3 myo Inventory Rental Units
InventoryRentalUnits
0
CY2022Q4 myo Inventory Rental Units
InventoryRentalUnits
51694
CY2023Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1257784
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
903581
CY2023Q3 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
1507666
CY2022Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
1486274
CY2023Q3 myo Inventory Reserve For Rental Units
InventoryReserveForRentalUnits
22937
CY2022Q4 myo Inventory Reserve For Rental Units
InventoryReserveForRentalUnits
86409
CY2023Q3 us-gaap Inventory Net
InventoryNet
1484729
CY2022Q4 us-gaap Inventory Net
InventoryNet
1399865
CY2023Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
5924810
CY2023Q3 us-gaap Short Term Investments
ShortTermInvestments
4208613
CY2023Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1217682
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
569681
CY2023Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1831688
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1059228
CY2023Q3 myo Professional Fees Accrued Current
ProfessionalFeesAccruedCurrent
118464
CY2022Q4 myo Professional Fees Accrued Current
ProfessionalFeesAccruedCurrent
124548
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
235357
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
234647
CY2023Q3 myo Accrued Liabilities Customer Deposit
AccruedLiabilitiesCustomerDeposit
1281577
CY2022Q4 myo Accrued Liabilities Customer Deposit
AccruedLiabilitiesCustomerDeposit
753232
CY2023Q3 us-gaap Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
90710
CY2022Q4 us-gaap Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
75293
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
449841
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
270303
CY2023Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
5225320
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
3086932
CY2023Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
5413334
CY2023Q3 myo Salesofprefundedwarrants
Salesofprefundedwarrants
1920000
CY2023Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.6
CY2023Q3 myo Per Sale Price Of Warrants
PerSalePriceOfWarrants
0.5999
CY2023Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
3900000
CY2023Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.0001
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
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
7.5
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
688250
CY2023Q3 myo Number Of Exercised Warrants
NumberOfExercisedWarrants
0
myo Number Of Exercised Warrants
NumberOfExercisedWarrants
0
CY2023Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2025-02-13
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
10099
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
199163
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
25961
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
133270
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2023Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2022Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1700
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
330394
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
305633
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
781513
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
917126
CY2023Q3 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
180000
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company has a non-cancelable sublease agreement for its corporate headquarters in Boston, MA which expired in August 2023. In conjunction with entering into a non-cancelable lease agreement for its manufacturing space in Boston in January 2022, the Company agreed to enter into a lease for its corporate headquarters space, effective September 1, 2023. Both leases in Boston as well as a lease for office space in Fort Worth, TX, expire in 2025. The Fort Worth, TX lease has the option to terminate early, which is available at the Company’s discretion starting 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 condensed consolidated balance sheets. We recognize rent expense on a straight-line basis over the lease term.
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
715876
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
143485
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
578179
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
67981
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
0
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
0
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
0
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
789645
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
80371
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
709274
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
456064
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
253210
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
709274
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
116314
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
125650
us-gaap Operating Lease Cost
OperatingLeaseCost
367613
us-gaap Operating Lease Cost
OperatingLeaseCost
367554
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
us-gaap Short Term Lease Cost
ShortTermLeaseCost
3250
CY2023Q3 us-gaap Lease Cost
LeaseCost
116314
CY2022Q3 us-gaap Lease Cost
LeaseCost
125650
us-gaap Lease Cost
LeaseCost
367613
us-gaap Lease Cost
LeaseCost
370804
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y7M28D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.233

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