Myomo, Inc. Files Q3 2024 10-Q Report
Ticker: MYO · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 1369290
| Field | Detail |
|---|---|
| Company | Myomo, Inc. (MYO) |
| Form Type | 10-Q |
| Filed Date | Nov 6, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
**MYOMO Q3 10-Q FILED: Check financials for latest performance.**
AI Summary
Myomo, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and business operations for the third quarter. Key financial data and operational highlights are presented within the report.
Why It Matters
This report provides investors and stakeholders with a detailed look at Myomo's financial health and operational progress during the third quarter of 2024.
Risk Assessment
Risk Level: medium — The company operates in the medical device sector, which is subject to regulatory and market risks, and the 10-Q filing itself contains standard risk disclosures.
Key Numbers
- Q3 — Quarter (Reporting period for the 10-Q)
- 1231 — Fiscal Year End (Company's fiscal year end date)
Key Players & Entities
- MYOMO, INC. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241106 (date) — Filing date of the report
- BOSTON (location) — Company's business and mailing address city
- 617-996-9058 (phone_number) — Company's business phone number
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 6, 2024.
What is Myomo, Inc.'s primary business classification?
Myomo, Inc. is classified under ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842].
Where is Myomo, Inc. located?
Myomo, Inc.'s business and mailing address is in Boston, MA.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
Filing Stats: 4,435 words · 18 min read · ~15 pages · Grade level 16.6 · Accepted 2024-11-06 16:15:23
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share MYO NYSE Americ
Filing Documents
- myo-20240930.htm (10-Q) — 1771KB
- myo-ex31_1.htm (EX-31.1) — 10KB
- myo-ex31_2.htm (EX-31.2) — 10KB
- myo-ex32_1.htm (EX-32.1) — 5KB
- myo-ex32_2.htm (EX-32.2) — 5KB
- 0000950170-24-122331.txt ( ) — 7134KB
- myo-20240930.xsd (EX-101.SCH) — 1030KB
- myo-20240930_htm.xml (XML) — 1169KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (interim periods unaudited)
Item 1. Financial Statements (interim periods unaudited) 1 Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 (audited) 1 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Notes to Unaudited Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 23
Controls and Procedures
Item 4. Controls and Procedures 23
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 24
Risk Factors
Item 1A. Risk Factors 24
Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities 44
Other Information
Item 5 Other Information 44
Exhibits
Item 6. Exhibits 45
Signatures
Signatures 46 Part 1. FINANC IAL INFORMATION
Financ ial statements
Item 1. Financ ial statements MYOMO, INC. CONDENSED CONSOLIDATED BAL ANCE SHEETS September 30, December 31, 2024 2023 (unaudited) ASSETS Current Assets: Cash and cash equivalents $ 6,622,675 $ 6,871,306 Short-term investments — 1,994,662 Accounts receivable, net 3,729,387 2,382,658 Inventories, net 3,383,513 1,803,507 Prepaid expenses and other current assets 968,569 598,850 Total Current Assets 14,704,144 13,650,983 Restricted cash 375,000 — Operating lease assets with right of use, net 466,962 663,554 Equipment, net 561,325 175,794 Other assets 205,440 91,237 Total Assets $ 16,312,871 $ 14,581,568 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued expenses 6,448,076 4,885,944 Current operating lease liability 205,464 486,143 Income taxes payable 305,861 96,461 Deferred revenue 31,971 8,510 Total Current Liabilities 6,991,372 5,477,058 Non-current operating lease liability 29,165 115,160 Total Liabilities 7,020,537 5,592,218 Commitments and Contingencies — — Stockholders' Equity: Preferred stock, $ 0.0001 par value; 10,000,000 shares authorized; no shares issued or outstanding — — Common stock par value $ 0.0001 per share, 65,000,000 shares authorized; 30,244,182 and 27,135,061 shares issued as of September 30, 2024 and December 31, 2023, respectively; and 30,244,155 and 27,135,034 shares outstanding at September 30, 2024 and December 31, 2023, respectively 3,026 2,715 Additional paid-in capital 111,754,495 105,840,239 Accumulated other comprehensive income 395,734 83,669 Accumulated deficit ( 102,854,457 ) ( 96,930,809 ) Treasury stock, 27 shares at cost ( 6,464 ) ( 6,464 ) Total Stockholders' Equity 9,292,334 8,989,350 Total Liabilities and Stockholders' Equity $ 16,312,871 $ 14,581,568 The accompanying notes are an integr