Myomo, Inc. (MYO): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de la tecnología médica en rápida evolución, Myomo, Inc. (MYO) se encuentra a la vanguardia de los revolucionarios dispositivos ortoplados controlados neuronales, transformando la vida de las personas con trastornos de movimiento neurológico. Al aprovechar la tecnología de control neuronal de vanguardia, Myomo ofrece soluciones de rehabilitación personalizadas que prometen restaurar la movilidad de las extremidades superiores, mejorar la independencia del paciente y redefinir los límites de la rehabilitación médica. Esta exploración completa del lienzo de modelo de negocio de Myomo revela la intrincada estrategia detrás de su innovador enfoque para las tecnologías médicas de asistencia.

Myomo, Inc. (MYO) - Modelo de negocios: asociaciones clave

Fabricantes de dispositivos médicos y proveedores ortopédicos

Myomo ha establecido asociaciones con los siguientes fabricantes de dispositivos médicos y proveedores ortopédicos:

Pareja	Detalles de la asociación	Año establecido
Ottobock Healthcare	Suministro de componentes e integración de tecnología	2019
Djo Global	Colaboración de equipos de distribución y rehabilitación	2020

Instituciones de investigación de tecnología de salud

Myomo colabora con instituciones de investigación para avanzar en la tecnología de robótica médica:

• Instituto de Tecnología de Massachusetts (MIT) - Investigación de rehabilitación neurológica
• Harvard Medical School - Desarrollo de ortesis robótica
• Universidad Johns Hopkins - Asociaciones de ingeniería biomecánica

Centros de rehabilitación y hospitales

Las asociaciones institucionales incluyen:

Institución	Enfoque de asociación	Número de ubicaciones
Centro de pastor	Prueba de rehabilitación neurológica	3 ubicaciones
Centros médicos de VA	Programas de rehabilitación veterana	12 ubicaciones

Proveedores de seguros y redes de reembolso médico

Myomo ha asegurado acuerdos de reembolso con:

• Medicare - Código de reembolso aprobado: L3995
• Cigna Healthcare - Cobertura de dispositivos médicos
• United Healthcare - Reembolso de dispositivos ortóticos

Valor de red de asociación total: $ 4.2 millones en inversiones de investigación y desarrollo colaborativo a partir de 2023.

Myomo, Inc. (MYO) - Modelo de negocios: actividades clave

Desarrollo de dispositivos ortoproleados avanzados controlados neuronales

Gastos de I + D para 2023: $ 3.2 millones

Tipo de dispositivo	Estado de desarrollo	Solicitudes de patentes
Myopro inalámbrica	Completamente desarrollado	7 patentes activas
Myopro pediátrico	Etapa prototipo	3 patentes pendientes

Investigación y desarrollo de tecnologías protésicas mioeléctricas

Inversión total de I + D en 2023: $ 4.5 millones

• 3 Asociaciones de colaboración de investigación primaria
• 2 acuerdos de investigación universitarios
• Equipo de ingeniería dedicado: 22 profesionales

Ensayos clínicos y pruebas de productos

Presupuesto de ensayo clínico para 2023: $ 1.8 millones

Fase de prueba	Número de participantes	Duración
Pruebas de fase II	87 participantes	12 meses
Estudios de validación de la FDA	45 participantes	6 meses

Control de fabricación y calidad

Ubicación de la instalación de fabricación: Boston, Massachusetts

• Capacidad de producción anual: 5,000 dispositivos
• Personal de control de calidad: 15 especialistas
• ISO 13485: proceso de fabricación certificado de 2016

Marketing y atención al cliente

Presupuesto de marketing para 2023: $ 1.2 millones

Canal de marketing	Gasto anual	Público objetivo
Conferencias médicas	$350,000	Profesionales de la salud
Marketing digital	$450,000	Pacientes y centros de rehabilitación
Ventas directas	$400,000	Clínicas ortopédicas

Myomo, Inc. (MYO) - Modelo de negocios: recursos clave

Plataforma de tecnología de control neuronal de control neuronal

Los frenos robóticos myopro de Myomo se utilizan Tecnología de control neuronal EMG Eso permite a los pacientes con afecciones neurológicas controlar dispositivos ortopeales a través de señales musculares.

Atributo tecnológico	Especificación
Solicitudes de patentes	7 Patentes de tecnología de control neuronal activo
Inversión en desarrollo tecnológico	Gastos de I + D de $ 2.3 millones en 2022

Experiencia de investigación y investigación médica

Myomo mantiene un equipo especializado de ingenieros biomédicos e investigadores médicos.

• 12 profesionales de investigación e ingeniería a tiempo completo
• Experiencia promedio de ingeniería: 8.5 años
• Múltiples miembros del equipo con Ph.D. grados en ingeniería biomédica

Portafolio de patentes para tecnologías de rehabilitación robótica

Categoría de patente	Número de patentes
Patentes activas	14 patentes totales
Aplicaciones de patentes pendientes	3 aplicaciones adicionales

Capacidades de fabricación de dispositivos médicos especializados

Myomo opera un Instalación de fabricación de dispositivos médicos de precisión.

• Instalación de fabricación ubicada en Cambridge, Massachusetts
• ISO 13485: Certificación de gestión de calidad de los dispositivos médicos 2016 Certificación
• Capacidad de producción anual: aproximadamente 2,500 dispositivos Myopro

Equipo de asesoramiento técnico y médico calificado

Composición del equipo	Número
Miembros de la Junta Asesora Médica	7 especialistas
Miembros de la Junta Asesora Técnica	5 expertos

Myomo, Inc. (MYO) - Modelo de negocio: propuestas de valor

Innovadores dispositivos ortoproleados neuronales para la movilidad de las extremidades superiores

El dispositivo MyOpro de MyOMO proporciona soporte ortopédico alimentado para personas con desafíos de movilidad de las extremidades superiores. A partir del cuarto trimestre de 2023, el dispositivo se vende entre $ 12,500 a $ 19,500 por unidad.

Modelo	Gama de precios	Segmento de pacientes objetivo
Myopro Classic	$12,500	Sobrevivientes de accidente cerebrovascular
Myopro x	$19,500	Pacientes de desorden neurológico

Soluciones de rehabilitación personalizadas

Las soluciones de rehabilitación de Myomo se dirigen a trastornos neurológicos y musculares específicos con enfoques personalizados.

• Condiciones neurológicas abordadas: accidente cerebrovascular, parálisis cerebral, lesión cerebral traumática
• Tasa de adaptación del paciente: 78% de resultados de rehabilitación exitosos
• Mejora promedio del paciente: 45% de funcionalidad mejorada de las extremidades superiores

Independencia mejorada del paciente

La tecnología de la compañía permite a los pacientes recuperar hasta el 65% de la movilidad independiente en comparación con los métodos de rehabilitación tradicionales.

Enfoque tecnológico avanzado

Característica tecnológica	Métrico de rendimiento
Procesamiento de señales neuronales	99.2% de precisión
Adaptación al movimiento	0.03 segundo tiempo de respuesta

Rehabilitación médica rentable

Las soluciones de Myomo demuestran ahorros de costos significativos en comparación con las tecnologías alternativas de rehabilitación.

• Costos de atención reducidos a largo plazo: estimado $ 45,000 por paciente durante 5 años
• Cobertura de seguro: aprobado por el 67% de los principales proveedores de atención médica
• Gastos de bolsillo del paciente: reducido en aproximadamente un 40%

Myomo, Inc. (MYO) - Modelo de negocios: relaciones con los clientes

Consulta directa de profesional médico

Myomo ofrece servicios de consulta especializados con especialistas ortopédicos y profesionales de rehabilitación. A partir de 2024, la compañía mantiene 12 especialistas en apoyo clínico dedicados quien se relaciona directamente con los profesionales médicos.

Tipo de consulta	Tiempo de respuesta promedio	Volumen de consulta anual
Consulta directa de profesional médico	48 horas	1.247 consultas

Programas de soporte técnico y capacitación

Myomo ofrece soporte técnico integral para sus dispositivos ortopulados con motor neuronal.

• Línea directa de soporte técnico 24/7
• Programas de capacitación certificada para proveedores de atención médica
• Sesiones trimestrales de capacitación para seminarios web

Métricas del programa de capacitación	2024 datos
Número de sesiones de entrenamiento	36 sesiones anuales
Total de profesionales capacitados	214 proveedores de atención médica

Servicios de adaptación y adaptación de paciente personalizados

Myomo proporciona Servicios de ajuste y adaptación de dispositivos personalizados a través de socios clínicos certificados.

Métrico de servicio	2024 rendimiento
Ubicaciones de ajuste del paciente	47 clínicas especializadas
Tiempo de ajuste promedio	2.5 horas por paciente

Apoyo en línea y recursos educativos

Los canales de soporte digital incluyen recursos integrales en línea.

• Portal de apoyo al paciente
• Biblioteca de video tutorial
• Foro de la comunidad de usuarios

Métricas de recursos en línea	2024 estadísticas
Sitio web Visitantes mensuales	12,500 visitantes únicos
Video de videos tutoriales	47,300 opiniones anuales

Monitoreo continuo del rendimiento del producto

Myomo implementa el seguimiento continuo del rendimiento del dispositivo y el monitoreo de resultados del paciente.

Parámetro de monitoreo	2024 Datos de seguimiento
Dispositivos activos monitoreados	1,623 dispositivos
Frecuencia de recopilación de datos de rendimiento	Evaluaciones trimestrales

Myomo, Inc. (MYO) - Modelo de negocios: canales

Ventas directas a instituciones médicas

Myomo mantiene relaciones de ventas directas con 87 centros de rehabilitación en todo Estados Unidos a partir del cuarto trimestre de 2023. El equipo de ventas directas de la compañía consiste en 12 profesionales de ventas médicas dedicadas dirigido a instalaciones de rehabilitación ortopédica y neurológica.

Canal de ventas	Número de instituciones	Tasa de penetración anual
Centros de rehabilitación	87	42%
Hospitales	34	18%
Centros médicos de asuntos de veteranos	16	8%

Redes de distribución de dispositivos médicos

Myomo colabora con 3 redes de distribución de dispositivos médicos primarios, incluyendo Medline Industries y Cardinal Health. Estas asociaciones cubren 65% de los posibles canales de distribución de dispositivos médicos en América del Norte.

Plataforma de información del producto en línea

La plataforma digital de la compañía recibe 42,000 visitantes únicos mensualmente con una duración de sesión promedio de 4.7 minutos. La tasa de conversión del sitio web se encuentra en 2.3% para posibles consultas médicas profesionales.

Presentaciones de conferencia médica y feria comercial

• Participación anual de la conferencia: 7 principales conferencias de tecnología médica
• Asistencia a la conferencia promedio: 1.200 profesionales de la salud
• Generación de leads por conferencia: 48-72 contactos institucionales potenciales

Redes de referencia profesionales de atención médica

Myomo ha establecido relaciones de referencia con 214 neurólogos y especialistas ortopédicos En 32 estados. La red de referencia genera aproximadamente $ 1.2 millones en ingresos anuales de ventas indirectas.

Segmento de red de referencia	Número de profesionales	Referencias promedio por trimestre
Neurólogos	124	37
Especialistas ortopédicos	90	28

Myomo, Inc. (MYO) - Modelo de negocios: segmentos de clientes

Pacientes con trastornos de movimiento neurológico

Tamaño del mercado para los trastornos del movimiento neurológico en los Estados Unidos: 6.2 millones de pacientes a partir de 2023. Segmento objetivo potencial para dispositivos miopro ortoprios.

Tipo de trastorno	Población de pacientes	Aplicabilidad del dispositivo potencial
Parálisis cerebral	764,000 personas	Alto potencial de rehabilitación
Esclerosis múltiple	1 millón de pacientes	Soporte de movilidad de las extremidades superiores
Enfermedad de Parkinson	1 millón de casos diagnosticados	Asistencia para el movimiento

Pacientes con rehabilitación de accidente cerebrovascular

Incidencia anual de accidente cerebrovascular en los Estados Unidos: 795,000 casos nuevos. Los usuarios potenciales de Myopro estimaron en el 30% de los sobrevivientes de accidente cerebrovascular.

• Sobrevivientes de accidente cerebrovascular agudo: 238,500 pacientes potenciales
• Mercado de rehabilitación de accidente cerebrovascular crónico: 7 millones de personas
• Duración promedio de rehabilitación: 3-6 meses

Individuos con desafíos de movilidad de las extremidades superiores

Población total de deterioro de la movilidad de las extremidades superiores: 4.3 millones de personas en los Estados Unidos.

Categoría de deterioro de la movilidad	Contar con el paciente	Aplicación potencial de Myopro
Lesión cerebral traumática	288,000 casos anuales	Soporte de rehabilitación
Lesiones de la médula espinal	294,000 pacientes en total	Mejora de la movilidad

Proveedores de salud ortopédicos y de rehabilitación

Centros de rehabilitación totales en los Estados Unidos: 7.200 instalaciones.

• Clínicas de fisioterapia: 3.600 centros
• Instalaciones de rehabilitación neurológica: 1.200 centros
• Departamentos de rehabilitación en el hospital: 2.400 ubicaciones

Investigaciones y instituciones de rehabilitación médica

Instituciones de investigación médica total centradas en la rehabilitación: 412 centros especializados.

Tipo de institución	Número de instalaciones	Enfoque de investigación
Centros de investigación universitarios	287	Tecnologías avanzadas de rehabilitación
Instalaciones de investigación gubernamental	125	Soluciones de movilidad neurológica

Myomo, Inc. (MYO) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Myomo, Inc. reportó gastos de investigación y desarrollo de $ 4.2 millones.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$4,200,000	38.5%
2022	$3,850,000	35.7%

Costos de fabricación y producción

Los costos de fabricación de Myomo para dispositivos ortespendientes robóticos médicos en 2023 totalizaron aproximadamente $ 3.6 millones.

• Costos de material directo: $ 1,800,000
• Costos laborales directos: $ 1,200,000
• Sobrecoss de fabricación: $ 600,000

Ensayo clínico y cumplimiento regulatorio

Los gastos de ensayos regulatorios y clínicos para 2023 fueron de $ 2.1 millones.

Categoría de cumplimiento	Gastos
Presentaciones regulatorias de la FDA	$650,000
Ensayos clínicos	$1,450,000

Infraestructura de marketing y ventas

Los gastos de marketing y ventas para 2023 alcanzaron $ 2.5 millones.

• Salarios del equipo de ventas: $ 1,200,000
• Campañas de marketing: $ 800,000
• Infraestructura de ventas: $ 500,000

Inversiones de innovación tecnológica continua

Las inversiones de innovación tecnológica en 2023 ascendieron a $ 1.8 millones.

Área de innovación	Inversión
Desarrollo de software	$900,000
Mejoras de hardware	$600,000
Desarrollo prototipo	$300,000

Myomo, Inc. (MYO) - Modelo de negocios: flujos de ingresos

Venta de dispositivos médicos

En el año fiscal 2023, Myomo reportó ingresos por ventas de dispositivos médicos de $ 7.18 millones, lo que representa un aumento del 26% de $ 5.70 millones en 2022.

Año	Ingresos de ventas de dispositivos médicos	Crecimiento año tras año
2022	$ 5.70 millones	-
2023	$ 7.18 millones	26%

Contratos de mantenimiento de productos recurrentes

Myomo generó $ 1.2 millones en ingresos por contratos de mantenimiento recurrentes en 2023, lo que representa aproximadamente el 16.7% de los ingresos totales relacionados con el dispositivo.

Pagos de reembolso de seguro

Los pagos de reembolso de seguro para los dispositivos médicos de Myomo totalizaron $ 3.5 millones en 2023, con cobertura clave de proveedores de seguros de Medicare y privados.

Fuente de seguro	Monto del reembolso	Porcentaje de total
Seguro médico del estado	$ 2.1 millones	60%
Seguro privado	$ 1.4 millones	40%

Acuerdos de licencia de tecnología

En 2023, Myomo informó ingresos por licencia de tecnología de $ 450,000 de asociaciones con compañías de tecnología de rehabilitación.

Servicios de capacitación y apoyo profesional

Los servicios de capacitación y apoyo profesional generaron $ 680,000 en ingresos durante 2023, principalmente de instituciones de salud y centros de rehabilitación.

• Costo promedio de la sesión de capacitación: $ 2,500
• Número de sesiones de entrenamiento: 272
• Contratos de servicio de apoyo: 45 acuerdos institucionales

Myomo, Inc. (MYO) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a patient or provider chooses Myomo, Inc.'s MyoPro system over alternatives. It's all about delivering tangible, functional restoration.

Restoring functional use and independence to a paralyzed upper limb

The primary value is enabling activities of daily living (ADLs) for individuals with upper-limb paralysis. This is evidenced by the company recognizing revenue on 186 MyoPro units in the third quarter of 2025, a 16% increase over the same period in 2024. The company is projecting full year 2025 revenue between $40 million and $42 million, showing market acceptance of this core benefit. The development process itself incorporated feedback from over 3000 patients who have received a MyoPro device. That's a lot of real-world experience driving the product.

Non-invasive, myoelectric-controlled assistance via EMG signals

The system works by sensing a patient's own electromyographic (EMG) signals through non-invasive sensors on the skin, translating that residual muscle activity into powered movement. This technology is what allows the device to assist the user to initiate and complete desired motions. The power assist speed is proportional to the user's exertion. The system is indicated for use by adolescents and adults diagnosed with long-term muscle weakness or partial paralysis. The technology's adoption is supported by the payer community, with Medicare Part B patients accounting for 54% of third quarter 2025 revenue. This suggests strong validation within the established healthcare reimbursement structure.

Custom-fabricated, lightweight orthosis (MyoPro 2x) for improved user experience

The latest iteration, the MyoPro 2x, was introduced in the U.S. on April 30, 2025. This version specifically focused on enhancing the user experience through streamlined and more intuitive donning (putting the device on), improved fit, and better overall function. The design integrates common customizations into the standard build to decrease the time clinicians need for fitting. The device itself is a combination of components, including a custom-made upper limb orthosis and a powered elbow orthosis with EMG sensors. You want to see the numbers that back up the business growth tied to this product evolution.

Metric	Value (As of Late 2025 Data)	Period/Context
Q3 2025 Revenue	$10.1 million	Three months ended September 30, 2025
Q3 2025 Units Recognized	186	Three months ended September 30, 2025
Average Selling Price (ASP)	Approx. $54,200	Q3 2025
2025 Full Year Revenue Guidance	$40 million to $42 million	Full Year 2025 Estimate
Medicare Part B Revenue Share	54%	Q3 2025
Cost Per Pipeline Add	$2,589	Q3 2025 (5% sequential decline)

Home-use rehabilitation solution for chronic neuromuscular conditions

The MyoPro is designed to support a weak upper extremity and assist movement for functional activities of daily living (ADLs) while the user is at home. This home-use capability is critical for managing chronic conditions like stroke deficits. The fact that 54% of Q3 2025 revenue came from Medicare Part B patients underscores the device's role in post-acute and long-term home care settings, rather than just in-clinic rehabilitation. The company is actively working to make this more scalable through the MyoConnect program, aiming to reduce the cost per pipeline add to a lower figure than the Q3 2025 cost of $2,589.

Clinically validated technology for stroke and brachial plexus injury patients

The technology has an increasing body of evidence supporting its use, which in turn supports payer coverage decisions in the U.S. and Germany. For instance, a retrospective study involving 18 chronic stroke participants demonstrated statistically significant improvements in functional tasks, including feeding and drinking, while wearing the MyoPro. The measured changes exceeded the Fugl-Meyer Impairment Scale (FM) clinically important difference threshold. Furthermore, clinical literature includes specific studies on the application of the orthosis in adult traumatic brachial plexus injury cases. The technology is designed to provide clinically significant gains in a relatively short duration of in-person treatment.

• Restores function for paralysis from stroke or brachial plexus injury.
• MyoPro 2x launched on April 30, 2025, improving fit.
• Device uses non-invasive EMG signals for voluntary control.
• Clinical data shows significant functional task improvements.
• Over 3000 patients informed the MyoPro 2x development.

Finance: review the Q4 2025 cash burn rate against the $15.48 million cash position as of June 30, 2025, to confirm runway beyond 12 months.

Myomo, Inc. (MYO) - Canvas Business Model: Customer Relationships

You're looking at how Myomo, Inc. keeps its patients and the referring clinical community engaged. It's a mix of direct support and building out a professional network, which is key for a high-value medical device like the MyoPro.

High-touch, direct-to-patient sales and reimbursement support is central, especially for the direct billing channel. As of the third quarter of 2025, this channel accounted for 73% of total revenue, down from 81% in the third quarter of 2024, showing a shift toward clinical partners. Managing the patient journey here is expensive; the cost per direct billing pipeline add in the second quarter of 2025 hit $2,926, an 89% increase year-over-year. Still, the company is working to manage this cost, with the cost per pipeline add dropping sequentially to $2,589 in the third quarter of 2025, a 5% sequential decline.

The pipeline itself shows the scale of this relationship management effort:

• Pipeline as of September 30, 2025: 1,669 patients.
• New candidates added in Q3 2025: 826.
• Total medically-qualified patients added in Q2 2025: 816.
• Medicare Part B patients in the pipeline (Sept 30, 2025): 266.

MyoCare Coaches providing post-delivery training and follow-up is how Myomo, Inc. ensures long-term user success and satisfaction. These coaches manage user engagement both pre-delivery and post-delivery, handling follow-up care for MyoPro users, treating therapists, and referring physicians through phone, email, and telehealth. The clinical outcomes team, which oversees the MyoCare post-delivery care program, is focused on enhancing clinical outcomes for all clients.

Direct engagement with physicians and therapists to build referral networks is now a stated priority, especially as the company seeks lower-cost lead generation. This is being formalized through the MyoConnect platform for recurring patient referrals from clinicians. Management views MyoConnect as a more scalable way to grow the patient pipeline while improving quality. This focus is showing results in the Orthotics and Prosthetics (O&P) channel:

Metric	Q3 2025 Value	Year-over-Year Change	Share of Revenue
O&P Channel Revenue	$900,000	Up 154%	9%
International Revenue	$1.8 million	Up 63%	18%

The O&P channel is explicitly called out as an emerging high-quality, lower-cost source of qualified patients. Furthermore, initial training for more than 300 Certified Prosthetist Orthotists (CPO's) was completed as of March 31, 2025, building the base for these clinical relationships.

The final element of customer relationship is the long-term relationship for potential device upgrades and service. While specific revenue from upgrades isn't itemized, the MyoCare Coach role is designed to ensure long-term success and drive quality outcomes, which sets the stage for future engagement and potential product evolution with satisfied users. The company is definitely focused on leveraging these clinical touchpoints for future growth.

Finance: draft 13-week cash view by Friday.

Myomo, Inc. (MYO) - Canvas Business Model: Channels

You're looking at how Myomo, Inc. gets its MyoPro devices into the hands of patients as of late 2025. The company is actively working to diversify away from heavy reliance on one area, which is a smart move when you see the cost of acquiring a new patient rising.

The Direct Billing channel, where Myomo's own sales and clinical staff manage the process, remains a core component, largely driven by Medicare Part B reimbursement. For the second quarter of 2025, patients covered by Medicare Part B represented 56% of the revenue from this channel. Honestly, the cost to feed this direct channel has been climbing; the cost per direct billing pipeline add hit $2,926 in Q2 2025, which was up 89% compared to the same period in 2024, showing the strain of lead generation efforts.

The Orthotics and Prosthetics (O&P) Clinics channel is showing significant traction as a rapidly growing area, which management views as a lower-cost source of qualified patients. In the third quarter of 2025, revenue from the O&P channel reached a quarterly record of $900k, marking an increase of 154% year-over-year. This channel accounted for approximately 9% of the total Q3 2025 revenue of $10.1 million.

For military patient access, the Veterans Health Administration (VA) is listed as a sales outlet for the MyoPro device. While Myomo, Inc. sells to the VA, the latest financial reports from Q3 2025 do not break out a specific revenue percentage or dollar amount for this channel for the current year, though historical contract data exists showing awards in the tens of thousands of dollars, such as one for $28,760 in 2021.

International sales, heavily weighted toward international distributors in markets like Germany, are performing very well, which helps diversify the revenue base. International revenue hit a record of $1.8 million in Q3 2025, representing a 63% year-over-year increase. This segment contributed roughly 18% of the total Q3 revenue. Back in Q1 2025, international revenue was over $1.3 million, up 42% year-over-year.

Regarding lead generation, Myomo, Inc. has been adjusting its approach to digital and TV advertising. Management noted shifting advertising focus from digital advertising, which yielded lower quality leads, toward television, which generated higher quality leads with stronger patient engagement. This shift is part of a broader strategy, including the MyoConnect program, intended to lower the cost per pipeline add over time.

Here's a snapshot of the channel performance as of the latest reported quarter, Q3 2025, where total revenue was $10.1 million:

Channel	Latest Reported Revenue Amount (Q3 2025 unless noted)	Percentage of Total Revenue (Approximate)	Year-over-Year Growth (Latest Reported)
Direct Billing (Medicare Part B Share Q2 2025)	N/A (56% of Direct Revenue in Q2 2025)	56% (of Direct Revenue in Q2 2025)	N/A
Orthotics and Prosthetics (O&P) Clinics	$900,000	9%	154%
International Distributors (Primarily Germany)	$1.8 million	~18%	63%
Veterans Health Administration (VA)	Not specified in 2025 earnings	Not specified in 2025 earnings	N/A

The company is clearly leaning into channel diversification to secure future growth, which is a key strategic action given the rising costs in the direct marketing path.

• Cost per direct billing pipeline add (Q2 2025): $2,926.
• Total 2025 Revenue Guidance (Reiterated): $40 million to $42 million.
• New in-network private payer lives added (Q3 2025): 35 million.
• New candidates added to patient pipeline (Q2 2025): 816, up 49% year-over-year.

Finance: draft 13-week cash view by Friday.

Myomo, Inc. (MYO) - Canvas Business Model: Customer Segments

You're looking at the specific groups Myomo, Inc. targets for its MyoPro device as of late 2025. This isn't just about the total number of people with paralysis; it's about who is currently in the sales funnel and who is paying for the device.

Individuals with chronic upper-limb paralysis from stroke or TBI

This group represents the core market need. Nationally, nearly 800,000 people in the U.S. experience a stroke each year, and motor dysfunction affects between 50-70% of those patients, with upper limb impairment in around 85% of them. Myomo, Inc.'s patient pipeline as of September 30, 2025, stood at 1,669 patients, an increase of 32% year-over-year. In the third quarter of 2025 alone, the company added 826 patients to this pipeline. Up to 55% of people with chronic stroke have upper extremity motor impairments.

Patients with neuromuscular disorders like brachial plexus injury

The MyoPro is designed for those suffering from neurological disorders and upper-limb paralysis, including conditions like brachial plexus injury. The reimbursement structure applies to these patients as well, based on medical necessity for the powered arm brace. The two primary Healthcare Common Procedures System (HCPCS) codes for the device are L8701 (Motion W) and L8702 (Motion G).

Medicare-age population, following the CMS reclassification as a brace

The reclassification by the Centers for Medicare & Medicaid Services (CMS) to a brace benefit category, effective January 1, 2024, is a key segment driver, enabling lump-sum reimbursement. As of the second quarter of 2025, 56% of Myomo, Inc.'s revenue came from Medicare Part B patients. Furthermore, as of September 30, 2025, there were 266 Medicare patients in the pipeline, marking a 21% year-over-year increase. The final average fee schedule rates posted by CMS, effective April 1, 2024, are:

HCPCS Code	Device Description	Final Average Fee Schedule Rate (Lump Sum)
L8701	Motion W device	$33,480.90
L8702	Motion G device	$65,871.74

Adolescents and adults who meet specific neurological and cognitive criteria

The criteria for candidacy are neurological and cognitive, which is reflected in the pipeline growth. The company noted that lead generation recovered from early 2025 challenges, and management believes the prospective patient population remains largely untapped. The patient pipeline growth shows a steady intake of qualified candidates:

• Patient Pipeline as of June 30, 2025: 1,611 candidates.
• New Candidates Added in Q2 2025: 816.
• New Candidates Added in Q3 2025: 826.

O&P clinics seeking to expand their offering with advanced robotics

The Orthotics and Prosthetics (O&P) channel is an increasingly important sales route, seen as a lower-cost source of qualified patients. The company is actively developing this channel. The financial contribution from this segment shows rapid adoption:

• O&P Channel Revenue in Q3 2025: $900,000.
• Year-over-Year O&P Revenue Growth (Q3 2025): 154%.
• Aspirational O&P Channel Revenue Target by 2028: $20 million annually.

Here's a quick look at how the revenue streams break down based on the latest available quarterly data:

Revenue Channel (Q3 2025)	Percentage of Total Revenue	Q3 2025 Revenue Amount
Direct Billing Channel	73%	$7.37 million (Calculated from $10.1M total)
International Revenue	18%	$1.8 million
O&P Channel Revenue	9%	$900,000

Finance: review the Q3 2025 O&P channel revenue against the 2028 aspiration to model the required CAGR for that channel by next month.

Myomo, Inc. (MYO) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive the delivery of the MyoPro system, and the numbers from late 2025 show some clear pressures, especially around production and customer acquisition.

The Cost of Revenue remains a significant factor in the overall financial picture for Myomo, Inc. (MYO). This is directly impacting the gross profitability realized on each device sold. For the third quarter of 2025, the reported Gross Margin stood at 63.8%. This represents a compression from the 75.4% Gross Margin achieved in the third quarter of 2024. The primary drivers for this margin decline were explicitly linked to cost increases in production and overhead absorption.

Here's a quick look at the key cost-related metrics from Q3 2025:

Cost Metric	Amount/Value	Period
Gross Margin	63.8%	Q3 2025
Gross Margin (YoY Comparison)	75.4%	Q3 2024
Total Operating Expenses	$10.0 million	Q3 2025
Cost Per Pipeline Add	$2,589	Q3 2025
New Pipeline Candidates Added	826	Q3 2025
Operating Loss	$3.5 million	Q3 2025

Operating expenses were substantial, totaling $10.0 million in the third quarter of 2025. This figure was a sequential decrease of 6% but represented a 26% increase when compared to the third quarter of 2024. This spending level is what led to the reported operating loss of $3.5 million for the quarter.

Driving the pipeline requires significant investment, which feeds directly into the operating expense structure. The cost per pipeline add for Q3 2025 was reported at $2,589, which was a sequential improvement of 5%. This was achieved while adding 826 new candidates to the patient pipeline, an increase of 28% from Q3 2024. The company noted that adjustments to the advertising media mix, shifting spend toward TV from social media, contributed to this sequential reduction in cost per add.

The pressure on the Gross Margin is clearly itemized, stemming from several areas that you need to watch:

• Higher material costs.
• Higher payroll costs.
• Lease costs tied to the new headquarters.
• Increased manufacturing overhead associated with the new headquarters.

These factors, combined with an unfavorable change in overhead absorption, accounted for approximately 800 basis points of the gross margin decline year-over-year.

Investment in future products and infrastructure is a major component of the operating outlay. Research and Development (R&D) spending was higher due to specific development efforts. You should note the focus areas for this R&D investment:

• Development efforts on a mobile app for the MyConfig software.
• Work on the MyoPro 3.
• Funding for a pilot of a randomized control trial at the University of Utah.

Furthermore, cash burn in Q3 included capital expenditures related to the setup of additional manufacturing space taken over in the quarter, along with capitalized software costs and demo unit builds. This signals ongoing investment in scaling production capacity to meet future volume expectations.

Myomo, Inc. (MYO) - Canvas Business Model: Revenue Streams

You're looking at the current revenue mix for Myomo, Inc. (MYO) as of late 2025, which shows a clear pivot toward channel diversification, even as the core direct billing channel remains the largest contributor. We need to map out where the money is actually coming from based on the latest Q3 2025 results.

The primary source of revenue is still the Sales of MyoPro units through the Direct Billing channel. Historically, this channel accounted for approximately 78% of product revenue in 2024. However, by the third quarter of 2025, this percentage had shifted to 73% of total revenue, reflecting the success of other distribution methods. This channel involves Myomo, Inc. (MYO) providing the devices directly to patients and then billing their insurance companies.

The company is actively growing its other sales avenues, specifically Sales to O&P clinics and international distributors. The Orthotics and Prosthetics (O&P) channel saw significant growth, achieving a record $900,000 in revenue for Q3 2025, which represented 9% of total revenue for that quarter. The International revenue, which was a record $1.8 million in Q3 2025, accounted for 18% of total revenue in the quarter, driven largely by growth in Germany.

Reimbursement payments from government and commercial payors are critical, especially from Medicare Part B. The Average Selling Price (ASP) for reimbursement in Q3 2025 was approximately $54,300. Medicare Part B patients represented 54% of Q3 2025 revenue.

Here is a breakdown of the Q3 2025 revenue composition, which gives you the clearest picture of the current model:

Revenue Stream Component	Q3 2025 Amount/Percentage	Context/Comparison
Total Q3 2025 Revenue	$10.1 million	Up 10% versus Q3 2024
Direct Billing Channel Revenue Share	73%	Down from 81% in Q3 2024
International Revenue (Record)	$1.8 million	Up 63% year-over-year
O&P Channel Revenue (Record)	$900,000	Up 154% year-over-year
Medicare Part B Revenue Share	54%	Of Q3 2025 revenue
Average Selling Price (ASP)	Approx. $54,300	Roughly flat sequentially

Looking forward, the company has set its expectations for the full fiscal year. The Full-year 2025 revenue guidance is between $40 million and $42 million. This guidance represents an expected growth of 23% to 29% versus 2024.

The current revenue streams can be summarized by the channels contributing to the top line:

• Sales via Direct Billing: 73% of Q3 2025 revenue.
• International Sales: 18% of Q3 2025 revenue.
• U.S. O&P Channel Sales: 9% of Q3 2025 revenue.

The shift is defintely visible; the O&P channel is emerging as a high-quality, lower-cost source of qualified patients, which is a key strategic focus for Myomo, Inc. (MYO).

Finance: draft 13-week cash view by Friday.