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 projected 32% CAGR.

• Direct billing is expected to remain the largest revenue contributor, with O&P channel targeted to contribute 20% of revenue by 2028 and international growth focused on Germany.

• International business, primarily in Germany, is projected to reach $15 million by 2028, leveraging favorable reimbursement and a robust patient pipeline.

• O&P channel relaunch targets $20 million in revenue by 2028, focusing on certifying 200 clinicians and increasing unit sales per clinician.

• Manufacturing capacity is scaling to support 250 units per month, with facility expansion, insourcing, and ongoing investments in efficiency and cost reduction.

Operational and commercial execution

• Direct billing business leverages robust lead generation and telehealth screening, with a 2.5–3x increase in leads and improved cost per lead in recent months.

• Centralized call center, expanded intake, and telehealth screening teams have improved efficiency and patient throughput.

• O&P channel certification process now requires greater commitment, including multiple days of training and patient pipeline readiness.

• International operations in Germany benefit from near-universal insurance coverage, a structured trial-to-conversion process, and MyoCare support to maximize outcomes.

• Manufacturing process utilizes remote shape capture, 3D printing, automation, and lean practices to reduce costs and improve gross margin by 200 basis points by end of 2026.

Financial guidance and risk management

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

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

• Recent capital raise intended to be the last, with focus on non-dilutive funding if needed.

• Key risks include Medicare Advantage authorization rates, O&P channel adoption, and potential competitive entrants, though current IP portfolio is strong.

• Operating expenses are mainly payroll and advertising, with 26% of COGS as material costs.