Myomo (MYO) Investor Day 2025 summary

Strategic vision and growth targets

• Aims to reach $100 million in annual revenue by 2028, driven by direct billing, O&P channel, and international expansion, with a targeted 32% CAGR.

• Direct billing remains the largest revenue contributor, accounting for 79% of Q1 revenue, while O&P and international channels are targeted for significant growth, with O&P expected to contribute 20% by 2028.

• International business, primarily in Germany, is expected to reach $15 million by 2028, with 96% of 2024 international revenue from Germany and robust reimbursement.

• U.S. O&P channel relaunch targets $20 million in revenue by 2028, focusing on certifying 200 clinicians and expanding partnerships.

• Manufacturing capacity is being expanded and insourced to support up to 250 units per month and reduce costs.

Financial outlook and performance

• Revenue projected to grow from $32.4 million in 2024 to $100 million in 2028, with gross margin targeted at 70–72% and EBITDA margin of 15–20% by 2028.

• Cash flow break-even expected at $17–18 million in quarterly revenue.

• Q1 2025 revenue mix: 79% direct billing, 13% O&P, 5% international, 3% VA.

• Operating expenses in Q1 2025 mainly payroll and advertising; 26% of COGS is material.

• Current cash position and credit facilities are expected to support growth plans, with preference for non-dilutive financing if needed.

Operational improvements and efficiency initiatives

• Centralized telehealth screenings and intake operations have improved lead conversion and patient throughput, with scalable processes and increased call volume.

• Manufacturing process now leverages remote shape capture, 3D scanning, additive manufacturing, automation, and in-house production for custom devices, reducing lead times and costs.

• Lean manufacturing and insourcing of key subassemblies are targeted to deliver 200 basis points of gross margin improvement and 15% savings in key assemblies by end of 2026.

• Companion app development will eliminate the need for bundled laptops, further reducing COGS and improving user experience.

• Advertising spend has increased, with cost per lead improving and no signs of market saturation.