$MYO
MYOMO, INC.

2024 Q4 Form 10-Q Financial Statement

#000095017024122331 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $9.208M $5.080M
YoY Change 81.27% 28.01%
Cost Of Revenue $2.262M $1.591M
YoY Change 42.21% 19.49%
Gross Profit $6.946M $3.489M
YoY Change 99.08% 32.3%
Gross Profit Margin 75.43% 68.68%
Selling, General & Admin $6.654M $4.796M
YoY Change 38.75% 0.65%
% of Gross Profit 95.81% 137.47%
Research & Development $1.249M $717.3K
YoY Change 74.12% 3.89%
% of Gross Profit 17.98% 20.56%
Depreciation & Amortization $48.69K $35.80K
YoY Change 36.01% -27.07%
% of Gross Profit 0.7% 1.03%
Operating Expenses $7.903M $5.513M
YoY Change 43.35% 1.06%
Operating Profit -$957.6K -$2.024M
YoY Change -52.7% -28.18%
Interest Expense $76.02K $112.3K
YoY Change -32.31% 287.79%
% of Operating Profit
Other Income/Expense, Net $76.02K $41.71K
YoY Change 82.26% 238.9%
Pretax Income -$881.5K -$1.983M
YoY Change -55.54% -29.35%
Income Tax $84.88K $46.36K
% Of Pretax Income
Net Earnings -$966.4K -$2.029M
YoY Change -52.37% -28.3%
Net Earnings / Revenue -10.5% -39.95%
Basic Earnings Per Share -$0.03 -$0.06
Diluted Earnings Per Share -$0.03 -$0.06
COMMON SHARES
Basic Shares Outstanding 30.25M 30.23M 21.10M
Diluted Shares Outstanding 37.95M 35.27M

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.12M
YoY Change 49.87%
Cash & Equivalents $6.623M $6.912M
Short-Term Investments $4.209M
Other Short-Term Assets $920.1K
YoY Change 66.17%
Inventory $3.384M $1.485M
Prepaid Expenses
Receivables $3.729M $2.517M
Other Receivables $0.00
Total Short-Term Assets $14.70M $16.04M
YoY Change -8.34% 45.15%
LONG-TERM ASSETS
Property, Plant & Equipment $561.3K $172.0K
YoY Change 226.32% -28.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $32.65K
YoY Change -78.11%
Other Assets $205.4K $91.24K
YoY Change 125.17% -17.83%
Total Long-Term Assets $1.609M $1.012M
YoY Change 59.0% -8.44%
TOTAL ASSETS
Total Short-Term Assets $14.70M $16.04M
Total Long-Term Assets $1.609M $1.012M
Total Assets $16.31M $17.05M
YoY Change -4.35% 40.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.218M
YoY Change 38.59%
Accrued Expenses $4.464M
YoY Change 38.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.991M $5.778M
YoY Change 21.01% 40.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $253.2K
YoY Change 14.27%
Total Long-Term Liabilities $253.2K
YoY Change 14.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.991M $5.778M
Total Long-Term Liabilities $253.2K
Total Liabilities $7.021M $6.031M
YoY Change 16.41% 39.12%
SHAREHOLDERS EQUITY
Retained Earnings -$102.9M -$94.47M
YoY Change 8.87% 9.09%
Common Stock $111.8M $105.5M
YoY Change 5.92% 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 $9.292M $11.02M
YoY Change
Total Liabilities & Shareholders Equity $16.31M $17.05M
YoY Change -4.35% 40.28%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$966.4K -$2.029M
YoY Change -52.37% -28.3%
Depreciation, Depletion And Amortization $48.69K $35.80K
YoY Change 36.01% -27.07%
Cash From Operating Activities -$1.494M -$1.715M
YoY Change -12.87% -38.73%
INVESTING ACTIVITIES
Capital Expenditures $320.7K $54.09K
YoY Change 492.92% -1042.33%
Acquisitions
YoY Change
Other Investing Activities $3.146M -$1.261M
YoY Change -349.42%
Cash From Investing Activities $2.825M -$1.315M
YoY Change -314.78% 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 -199.5K 3.950M
YoY Change -105.05%
NET CHANGE
Cash From Operating Activities -1.494M -1.715M
Cash From Investing Activities 2.825M -1.315M
Cash From Financing Activities -199.5K 3.950M
Net Change In Cash 1.131M 919.4K
YoY Change 23.07% -132.78%
FREE CASH FLOW
Cash From Operating Activities -$1.494M -$1.715M
Capital Expenditures $320.7K $54.09K
Free Cash Flow -$1.815M -$1.769M
YoY Change 2.6% -36.67%

Facts In Submission

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-966409
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
9292334
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
6359365
CY2023Q1 myo Proceeds From Sale Of Common Stock In Public Offering Net Of Offering Costs Value
ProceedsFromSaleOfCommonStockInPublicOfferingNetOfOfferingCostsValue
3616094
CY2023Q1 myo Proceeds From Sale Of Pre Funded Warrants Net Of Offering Costs
ProceedsFromSaleOfPreFundedWarrantsNetOfOfferingCosts
2064012
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
171027
CY2023Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
65788
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-2644295
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
9631991
CY2023Q2 myo Common Stock Issued Upon Vesting Of Restricted Stock Units
CommonStockIssuedUponVestingOfRestrictedStockUnits
16744
CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-8147
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
280061
CY2023Q2 us-gaap Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
UnrealizedGainLossOnForeignCurrencyDerivativesNetBeforeTax
-71357
CY2023Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
1634
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-1014150
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
8820032
CY2023Q3 myo Proceeds From Sale Of Common Stock In Public Offering Net Of Offering Costs Value
ProceedsFromSaleOfCommonStockInPublicOfferingNetOfOfferingCostsValue
2915588
CY2023Q3 myo Proceeds From Sale Of Pre Funded Warrants Net Of Offering Costs
ProceedsFromSaleOfPreFundedWarrantsNetOfOfferingCosts
1033928
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 Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-47846
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2029016
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
11023111
us-gaap Profit Loss
ProfitLoss
-5923648
us-gaap Profit Loss
ProfitLoss
-5687461
us-gaap Depreciation
Depreciation
114346
us-gaap Depreciation
Depreciation
136416
us-gaap Share Based Compensation
ShareBasedCompensation
552580
us-gaap Share Based Compensation
ShareBasedCompensation
781513
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
118520
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5257
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12626
us-gaap Debt And Equity Securities Realized Gain Loss
DebtAndEquitySecuritiesRealizedGainLoss
0
us-gaap Debt And Equity Securities Realized Gain Loss
DebtAndEquitySecuritiesRealizedGainLoss
-99840
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
196592
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
301053
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-84180
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
49271
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1116352
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
625596
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1573193
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
90100
myo Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
614951
myo Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
439584
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
16640
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-19797
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1895795
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2141978
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
202137
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-74944
myo Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-366675
myo Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-352820
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
23460
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
9533
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6655632
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3817020
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
5482757
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
5209866
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
7595814
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
1000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
499877
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
114151
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1613180
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4324017
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
4598771
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
6623633
myo Proceeds From At The Market Offering Net Of Offering Costs
ProceedsFromAtTheMarketOfferingNetOfOfferingCosts
763138
myo Proceeds From At The Market Offering Net Of Offering Costs
ProceedsFromAtTheMarketOfferingNetOfOfferingCosts
3097940
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
0
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
8147
myo Deferred Offering Cost
DeferredOfferingCost
-199500
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5162409
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9713426
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6412
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 Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
126369
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1565780
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6871306
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5345967
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6997675
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6911747
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
508186
myo Deferred Offering Costs Incurred In A Prior Period To Additional Paid In Capital
DeferredOfferingCostsIncurredInAPriorPeriodToAdditionalPaidInCapital
0
myo Deferred Offering Costs Incurred In A Prior Period To Additional Paid In Capital
DeferredOfferingCostsIncurredInAPriorPeriodToAdditionalPaidInCapital
-91952
myo Unrealized Loss From Mark To Market On Short Term Investments
UnrealizedLossFromMarkToMarketOnShortTermInvestments
126
myo Unrealized Loss From Mark To Market On Short Term Investments
UnrealizedLossFromMarkToMarketOnShortTermInvestments
860
us-gaap Nature Of Operations
NatureOfOperations
<p style="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="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-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-size:10pt;font-family:'Calibri',sans-serif;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;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>
myo Net Loss Income
NetLossIncome
5923600
myo Net Loss Income
NetLossIncome
5687500
CY2024Q3 myo Accumulated Deficit
AccumulatedDeficit
102850000
myo Net Cash Provided By Used In Operating Activity
NetCashProvidedByUsedInOperatingActivity
6660000
myo Net Cash Provided By Used In Operating Activity
NetCashProvidedByUsedInOperatingActivity
3817000
CY2024Q3 us-gaap Debt Default Longterm Debt Amount
DebtDefaultLongtermDebtAmount
4000000
CY2024Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
900000
CY2024Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1354218
CY2024Q1 myo Salesofprefundedwarrants
Salesofprefundedwarrants
224730
CY2024Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
3.8
CY2024Q1 myo Per Sale Price Of Warrants
PerSalePriceOfWarrants
3.7999
CY2024Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
5400000
CY2023Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
3900000
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
CY2023Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
5700000
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
us-gaap Use Of Estimates
UseOfEstimates
<p style="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="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-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 deferred tax valuation allowances, valuation of stock-based compensation, warranty obligations and reserves for slow-moving inventory.</span></p>
CY2024Q3 us-gaap Other Short Term Investments
OtherShortTermInvestments
0
CY2023Q4 us-gaap Other Short Term Investments
OtherShortTermInvestments
1994700
CY2024Q3 us-gaap Line Of Credit
LineOfCredit
375000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6997675
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6871306
CY2024Q3 us-gaap Short Term Investments
ShortTermInvestments
0
CY2023Q4 us-gaap Short Term Investments
ShortTermInvestments
1994662
CY2024Q3 myo Percentage Of Direct Billing Channel Revenue Payers Represent
PercentageOfDirectBillingChannelRevenuePayersRepresent
0.93
CY2023Q3 myo Percentage Of Direct Billing Channel Revenue Payers Represent
PercentageOfDirectBillingChannelRevenuePayersRepresent
0.69
myo Percentage Of Direct Billing Channel Revenue Payers Represent
PercentageOfDirectBillingChannelRevenuePayersRepresent
0.88
myo Percentage Of Direct Billing Channel Revenue Payers Represent
PercentageOfDirectBillingChannelRevenuePayersRepresent
0.61
CY2024Q3 us-gaap Deferred Revenue
DeferredRevenue
32000
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
8500
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9207586
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5079523
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20482742
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14484775
CY2024Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
107200
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
140800
CY2023Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
32800
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
76900
CY2024Q3 us-gaap Advertising Expense
AdvertisingExpense
1043700
CY2023Q3 us-gaap Advertising Expense
AdvertisingExpense
822500
us-gaap Advertising Expense
AdvertisingExpense
2680600
us-gaap Advertising Expense
AdvertisingExpense
2360400
CY2024Q3 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
256400
CY2023Q3 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
47100
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
312000
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
50500
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1925853
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2315167
CY2024Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.0001
CY2024Q3 myo Common Stock Equivalents Pre Funded Warrants
CommonStockEquivalentsPreFundedWarrants
7721519
CY2023Q3 myo Common Stock Equivalents Pre Funded Warrants
CommonStockEquivalentsPreFundedWarrants
8750926
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1367375
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
321484
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
74859
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
6589
CY2024Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1941279
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1475434
CY2024Q3 us-gaap Inventory Net
InventoryNet
3383513
CY2023Q4 us-gaap Inventory Net
InventoryNet
1803507
CY2024Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
5772131
CY2023Q4 us-gaap Short Term Investments
ShortTermInvestments
1994662
CY2024Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1301550
CY2023Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1073405
CY2024Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2598932
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1964487
CY2024Q3 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
240575
CY2023Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
95680
CY2024Q3 myo Professional Fees Accrued Current
ProfessionalFeesAccruedCurrent
54533
CY2023Q4 myo Professional Fees Accrued Current
ProfessionalFeesAccruedCurrent
52202
CY2024Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
159531
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
231108
CY2024Q3 myo Accrued Liabilities Customer Deposit
AccruedLiabilitiesCustomerDeposit
1857565
CY2023Q4 myo Accrued Liabilities Customer Deposit
AccruedLiabilitiesCustomerDeposit
1114979
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
235390
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
354083
CY2024Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
6448076
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4885944
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 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
CY2024Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1354218
CY2024Q1 myo Salesofprefundedwarrants
Salesofprefundedwarrants
224730
CY2024Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
3.8
CY2024Q1 myo Per Sale Price Of Warrants
PerSalePriceOfWarrants
3.7999
CY2024Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
5400000
CY2024Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.0001
CY2024Q3 myo Common Stock Equivalents Pre Funded Warrants
CommonStockEquivalentsPreFundedWarrants
7721519
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
42828
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
980173
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
CY2023Q3 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
0
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
16744
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
324185
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
330394
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
552580
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
781513
CY2023Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
55000
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company has a non-cancelable sublease agreement for its corporate headquarters in Boston, Massachusetts, which expires in January 2025 and a lease agreement for office space in Fort Worth, TX. which expires in December 2025. In August 2024, the Company entered into a new lease agreement for its new corporate headquarters and manufacturing facility in Burlington, Massachusetts, which the Company expects to begin occupying by the end of 2024, with a term of approximately 88 months following the rent commencement date. The Company has the option to extend the new lease for an additional five years, subject to certain conditions being satisfied. Under the new lease, the Company provided a security deposit to the landlord in the form of a letter of credit for $375,000. The Company has collateralized the letter of credit with cash in a separate bank account, which is accounted for as long-term restricted cash on the condensed consolidated balance sheet. Termination options are either not included, or have expired, for the Company’s other 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.
CY2024Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P88M
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The Company has the option to extend the new lease for an additional five years, subject to certain conditions being satisfied.
CY2024Q3 us-gaap Line Of Credit
LineOfCredit
375000
CY2024Q3 myo Operating Lease Right Of Use Assets
OperatingLeaseRightOfUseAssets
467000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
144610
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
102841
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
0
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
0
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
0
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
247451
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12822
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
234629
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
205464
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
29165
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
234629
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
87836
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
116314
us-gaap Operating Lease Cost
OperatingLeaseCost
263506
us-gaap Operating Lease Cost
OperatingLeaseCost
367613
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1615
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4884
us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2024Q3 us-gaap Lease Cost
LeaseCost
89451
CY2023Q3 us-gaap Lease Cost
LeaseCost
116314
us-gaap Lease Cost
LeaseCost
268390
us-gaap Lease Cost
LeaseCost
367613
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M14D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y2M12D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.233
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.233
CY2023Q4 us-gaap Program Rights Obligations
ProgramRightsObligations
142217
CY2022Q4 us-gaap Program Rights Obligations
ProgramRightsObligations
56603
CY2024Q1 myo Payments To Supplier Finance Program Obligations
PaymentsToSupplierFinanceProgramObligations
0
CY2023Q1 myo Payments To Supplier Finance Program Obligations
PaymentsToSupplierFinanceProgramObligations
128692
CY2024Q1 myo Expensed To Supplier Finance Program Obligations
ExpensedToSupplierFinanceProgramObligations
-80109
CY2023Q1 myo Expensed To Supplier Finance Program Obligations
ExpensedToSupplierFinanceProgramObligations
-132988
CY2024Q1 us-gaap Program Rights Obligations
ProgramRightsObligations
62108
CY2023Q1 us-gaap Program Rights Obligations
ProgramRightsObligations
52307
CY2024Q2 myo Payments To Supplier Finance Program Obligations
PaymentsToSupplierFinanceProgramObligations
349909
CY2023Q2 myo Payments To Supplier Finance Program Obligations
PaymentsToSupplierFinanceProgramObligations
375824
CY2024Q2 myo Expensed To Supplier Finance Program Obligations
ExpensedToSupplierFinanceProgramObligations
-78593
CY2023Q2 myo Expensed To Supplier Finance Program Obligations
ExpensedToSupplierFinanceProgramObligations
-155076
CY2024Q2 us-gaap Program Rights Obligations
ProgramRightsObligations
333424
CY2023Q2 us-gaap Program Rights Obligations
ProgramRightsObligations
273055
CY2024Q3 myo Payments To Supplier Finance Program Obligations
PaymentsToSupplierFinanceProgramObligations
63478
CY2023Q3 myo Payments To Supplier Finance Program Obligations
PaymentsToSupplierFinanceProgramObligations
29809
CY2024Q3 myo Expensed To Supplier Finance Program Obligations
ExpensedToSupplierFinanceProgramObligations
-121512
CY2023Q3 myo Expensed To Supplier Finance Program Obligations
ExpensedToSupplierFinanceProgramObligations
-80538
CY2024Q3 us-gaap Program Rights Obligations
ProgramRightsObligations
275390
CY2023Q3 us-gaap Program Rights Obligations
ProgramRightsObligations
222326
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0000950170-24-122331.txt Edgar Link pending
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myo-20240930.htm Edgar Link pending
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myo-ex31_1.htm Edgar Link pending
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