Myomo, a company at the forefront of medical robotics, has unveiled its robust financial results for the second quarter of 2026, showcasing impressive revenue growth and a successful pivot in its patient acquisition strategy. The company's dedication to developing advanced orthotic devices that empower individuals with upper-limb weakness is evidently translating into significant market penetration and financial strength.

Myomo's Remarkable Q2 2026 Financial Achievements and Strategic Evolution

In a significant announcement on Sunday, August 9, 2026, Myomo (NYSEAMERICAN:MYO) disclosed its second-quarter 2026 earnings, revealing a notable 21% surge in revenue, reaching an impressive $11.7 million. This growth was primarily fueled by a 19% increase in recognized MyoPro units, totaling 211 devices, and an all-time high of 255 MyoPro orders, marking a 23% year-over-year rise. The average selling price per device also saw a modest 2% increase, settling at approximately $55,500.

A pivotal factor contributing to this success is Myomo's strategic transition towards recurring referral sources for patient acquisition. This approach has demonstrably gained momentum, with these sources contributing a substantial 53% of the quarterly revenue, a remarkable increase from 26% just one year prior, surpassing the company's 50% target six months ahead of schedule. During this period, Myomo successfully onboarded over 150 new referral sites, expanding its active network to more than 300 locations.

The MyoConnect program, a direct-billing referral channel, now accounts for 23% of total revenue, up from 20% in the preceding quarter. International sales played a crucial role, representing 17% of revenue and experiencing a 32% year-over-year expansion. Furthermore, the U.S. orthotics and prosthetics (O&P) channel demonstrated exceptional growth, contributing 10% of revenue with a 130% increase. Patients from Veterans Affairs also constituted 3% of the quarterly revenue.

Financially, Myomo demonstrated improved operational efficiency. The gross margin expanded to 72.1%, a significant leap from 62.7% in Q2 2025. This improvement is attributed to higher average selling prices, reduced overhead costs, and material cost savings, partially offset by reclassified clinical expenses. Operating expenses remained largely stable at $10.7 million, while the operating loss narrowed considerably to $2.3 million from $4.6 million in the prior-year quarter. The adjusted EBITDA loss also improved significantly to $800,000 from $4 million.

The company's net loss for the quarter was $4 million, or $0.09 per share, a reduction from $4.6 million, or $0.11 per share, in Q2 2025. Myomo maintained a healthy cash position with $13.5 million in cash equivalents and short-term investments as of June 30. Operating cash usage saw a substantial decrease, falling to $1.9 million from $8.9 million in the corresponding period of the previous year.

Looking ahead, Myomo has raised its full-year 2026 revenue forecast to between $45 million and $47 million, an increase from the previous guidance of $43 million to $46 million. For the third quarter, the company anticipates revenue between $11.5 million and $12 million, reflecting a year-over-year growth of 14% to 19%. Myomo also aims to keep its total cash burn below $2 million for the second half of 2026, while continuing its investment in reimbursement, product development, and clinical trials. The next-generation MyoPro 3 remains on track, with a hand-only prototype introduced in Germany, and a randomized controlled trial at the University of Utah is ongoing, with full results expected in 2027.

This impressive performance underscores Myomo's strategic acumen and its unwavering commitment to enhancing the lives of individuals with upper-limb weakness through innovative medical robotics. The shift towards a more sustainable referral-based model, coupled with robust financial management and a promising product pipeline, positions Myomo for continued success and leadership in the medical robotics sector.