Filing Analysis
Myomo, Inc. announced its financial results for the second quarter ended June 30, 2026. The filing serves as a formal announcement of quarterly earnings via an attached press release.
📋 Key Facts
- Reporting period: Second Quarter ended June 30, 2026.
- Announcement date: August 5, 2026.
- The financial results were furnished in Exhibit 99.1 as a press release.
This is an amendment to a previously filed 8-K (8-K/A) intended to correct exhibit labeling errors and provide hyperlinks. The filing primarily reports the results of Myomo, Inc.'s Annual Meeting of Stockholders held on June 25, 2026.
🚩 Red Flags
- None identified; this is a corrective administrative filing.
📋 Key Facts
- Stockholders approved an amendment to the 2018 Stock Option and Incentive Plan, increasing available shares by 1,833,000.
- Stockholders approved a Charter Amendment to increase authorized common stock to 100,000,000 shares.
- Paul R. Gudonis and Thomas F. Kirk were elected as Class III directors for three-year terms expiring in 2029.
- CBIZ CPAs P.C. was ratified as the independent registered public accounting firm for fiscal year ending Dec 31, 2026.
- The filing corrects previous errors where Exhibit 3.1 and 10.1 were swapped in the original submission.
Myomo, Inc. held its Annual Meeting of Stockholders on June 25, 2026, where shareholders approved several key items including director elections and an increase in authorized shares.
🚩 Red Flags
- Increase in authorized shares to 100,000,000 may facilitate future dilution through equity offerings.
📋 Key Facts
- Stockholders approved the election of Paul R. Gudonis and Thomas F. Kirk as Class III directors for three-year terms expiring in 2029.
- Shareholders approved an amendment to the Myomo 2018 Stock Option and Incentive Plan, increasing available shares by 1,833,000.
- The Charter Amendment was approved to increase the authorized number of common stock shares to 100,000,000.
- CBIZ CPAs P.C. was ratified as the independent registered public accounting firm for fiscal year ending December 31, 2026.
- An advisory (non-binding) vote approved executive compensation and a proposal regarding director classification.
Myomo, Inc. has appointed Joseph M. Manko Jr. to its Board of Directors as a Class I director, effective May 9, 2026. Mr. Manko is the Senior Principal of Horton Capital Management, a significant shareholder in the company, and brings extensive med-tech and investment banking experience.
📋 Key Facts
- Joseph M. Manko Jr. was appointed to the Board of Directors effective May 9, 2026.
- Mr. Manko is the Senior Principal of Horton Capital Management LLC, which is identified as a significant shareholder in the Company.
- He will serve as a Class I director with a term expiring at the 2027 annual meeting of shareholders.
- Non-employee director compensation includes an annual cash retainer of $60,000 and an annual grant of restricted stock units (RSUs) with a grant date fair value of $85,000.
- Mr. Manko currently serves as Chairman of Safeguard Scientifics, Inc. and as a director of KORU Medical Systems, Inc.
Myomo, Inc. announced its financial results for the first quarter ended March 31, 2026. The results were furnished via a press release as part of a routine quarterly earnings disclosure.
📋 Key Facts
- The report was filed on May 7, 2026.
- The financial results cover the first quarter ended March 31, 2026.
- The filing was made under Item 2.02 (Results of Operations and Financial Condition).
- A press release containing the full financial details was furnished as Exhibit 99.1.
Myomo, Inc. has appointed William J. Febbo to its Board of Directors as a Class II director, effective April 14, 2026. Mr. Febbo, the former CEO of OptimizeRx Corporation, brings extensive experience in healthcare technology and capital markets to the board.
📋 Key Facts
- William J. Febbo appointed as a Class II director with a term expiring at the 2028 annual meeting.
- Mr. Febbo served as CEO of OptimizeRx Corporation (NASDAQ: OPRX) from 2015 to 2024.
- Compensation includes an initial grant of 45,000 restricted stock units (RSUs) vesting in one year.
- Annual compensation consists of a $60,000 cash retainer and $85,000 in RSUs vesting quarterly.
- Mr. Febbo currently serves as CEO of Performance Health Systems as of February 2026.
Myomo, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2025, via a press release furnished with the SEC.
📋 Key Facts
- The report was filed on March 9, 2026, covering the period ending December 31, 2025.
- The filing includes Item 2.02 for Results of Operations and Financial Condition.
- Financial data was furnished as Exhibit 99.1 and is not deemed 'filed' for Section 18 liability purposes.
- The company is listed on the NYSE American under the ticker MYO.
Myomo, Inc. announced a new compensation program where the CEO and CFO will reduce their 2026 base salaries by 10% in exchange for Restricted Stock Units (RSUs) valued at 115% of the foregone salary. This move aligns executive compensation with equity incentives.
🚩 Red Flags
- Executive salary reductions can sometimes signal liquidity constraints or a need to preserve cash for operations (though framed here as incentive alignment).
📋 Key Facts
- CEO Paul Gudonis to reduce 2026 base salary by 10% ($40,000 value) for RSUs.
- CFO David Henry to reduce 2026 base salary by 10% ($30,000 value) for RSUs.
- RSU grant fair value is set at 115% of the foregone salary amount.
- The program is subject to a termination right by the Company until January 12, 2026.
- RSUs will vest in full on the three-month anniversary of quarterly grants starting Jan 12, 2026.
Myomo, Inc. entered into a significant $17.5 million loan and security agreement with Avenue Capital Management II, L.P. and Avenue Venture Opportunities Fund II, L.P., which includes immediate funding of $12.5 million and various equity warrants.
🚩 Red Flags
- High interest rate (Prime + 4.75%) suggests a high-risk profile for the borrower.
- Significant dilution risk via warrants ($1.3M) and lender conversion rights ($4M).
- Restrictive financial covenants regarding cash minimums ($2.5M) and revenue targets (75% of projection).
- The warrant exercise price is capped at $0.96, which may be significantly above current market value depending on trading context.
- Lender has a 'change of control' provision allowing them to receive shares without paying the exercise price.
📋 Key Facts
- Total committed term loans: up to $17.5 million ($12.5M Tranche 1 funded on Nov 4, 2025; $5.0M Tranche 2 between Nov 2026 and May 2027).
- Interest rate: Prime Rate + 4.75%.
- Maturity date: June 1, 2029.
- Security: Senior secured lien on all company assets, including intellectual property.
- Warrant issued to Lender for $1,312,500 worth of common stock with an exercise price at the lesser of $0.96 or the price in the next equity financing round.
- Lender has conversion rights for up to $4.0 million of principal into common stock.
- Financial covenants include maintaining $2.5 million in unrestricted cash and achieving 75% of projected revenue.
Myomo, Inc. announced its financial results for the second quarter ended June 30, 2025. The filing serves as a formal announcement of quarterly earnings performance.
📋 Key Facts
- Reporting period: Second Quarter ended June 30, 2025
- Announcement date: August 11, 2025
- The report includes the results of operations and financial condition via Exhibit 99.1.
Myomo, Inc. announced an Investor & Analyst Day held on June 18, 2025, to provide an overview of its business model and long-term financial aspirations. The filing includes a press release detailing highlights from the event.
📋 Key Facts
- Investor & Analyst Day was held on June 18, 2025, at 10:00 a.m. ET.
- Management provided an in-depth overview of the company's business model and long-term financial aspirations.
- The event was webcast via the company's investor website (ir.myomo.com).
- A press release containing highlights for the event was issued as Exhibit 99.1.
Myomo, Inc. held its Annual Meeting of Stockholders on June 11, 2025. The meeting resulted in the election of a new director and the ratification of the company's independent auditor.
📋 Key Facts
- Annual Meeting held on June 11, 2025.
- Heather Getz was elected as Class II director for a three-year term expiring in 2028.
- Stockholders ratified the appointment of CBIZ CPAs P.C. as independent registered public accounting firm for fiscal year ending December 31, 2025.
- Total shares outstanding and entitled to vote as of April 14, 2025: 35,978,651.
Myomo, Inc. filed an 8-K to announce its financial results for the first quarter ended March 31, 2025. The filing serves as a vehicle to furnish the quarterly earnings press release.
📋 Key Facts
- Reporting period: First Quarter ended March 31, 2025
- Filing date: May 7, 2025
- The company furnished Exhibit 99.1 containing the full text of the press release.
- Information is furnished under Item 2.02 and is not considered 'filed' for purposes of Section 18 liability.
Myomo, Inc. has replaced its independent auditor, Marcum LLP, with CBIZ CPAs P.C., effective April 8, 2025. The filing also notes the intention of two board members to not stand for reelection at the upcoming annual meeting.
🚩 Red Flags
- Auditor change occurring shortly after the disclosure of material weaknesses in IT general controls (privilege access, user provisioning, and SOC report reviews).
- Departure of an Audit Committee member (Amy Knapp) coinciding with the auditor transition.
📋 Key Facts
- Marcum LLP resigned as the independent registered public accounting firm on April 8, 2025.
- CBIZ CPAs P.C. was engaged as the new independent auditor, effective April 8, 2025.
- The change follows CBIZ CPAs' acquisition of Marcum LLP's attest business on November 1, 2024.
- Amy Knapp (Board/Audit Committee member) will not stand for reelection at the 2025 annual meeting.
- Yitzchak Jacobovitz (Board member) will not stand for reelection but will transition to a Board Observer role.
- The company previously disclosed a material weakness in IT general controls as of Dec 31, 2024.
Myomo, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024. The filing serves as a formal announcement of earnings via an attached press release.
📋 Key Facts
- Reporting period: Fourth quarter and fiscal year ended December 31, 2024.
- Announcement date: March 10, 2025.
- The filing includes Exhibit 99.1 containing the full press release of financial results.
Myomo, Inc. entered into a First Amendment to its Loan and Security Agreement with Silicon Valley Bank (a division of First-Citizens Bank & Trust Company). The amendment establishes a new $3,000,000 term loan facility and modifies existing revolving credit terms.
🚩 Red Flags
- Increased reliance on debt financing (new $3M term loan).
- Floating interest rate exposure linked to Prime Rate.
- Prepayment penalties/end of term charges apply to early repayment.
📋 Key Facts
- Entered into an Amendment to the July 11, 2024 Loan Agreement on February 18, 2025.
- New Term Loan facility of up to $3,000,000 available until February 28, 2026.
- Term loan repayment: 36 equal monthly installments starting March 1, 2026; maturity on February 1, 2029.
- Interest rate: Floating rate of the greater of 5.0% or Prime Rate minus 1.0%.
- Prepayment premium ranges from 1.0% to 3.0% depending on timing.
- Amendment increases the limit for Medicare receivables included as 'eligible accounts'.
- Amendment increases the permitted aggregate maximum balance in the Company's German subsidiary.
Myomo, Inc. entered into an underwriting agreement to issue and sell 3,000,000 shares of common stock at $5.00 per share. The company expects net proceeds of approximately $15.8 million to fund revenue growth, product development, and working capital.
🚩 Red Flags
- Equity dilution: Issuance of 3.45 million total shares (including exercised option) will dilute existing shareholders.
📋 Key Facts
- Offering size: 3,000,000 shares of common stock.
- Offering price: $5.00 per share.
- Underwriter: Craig-Hallum Capital Group LLC.
- Expected net proceeds: Approximately $15.8 million.
- Over-allotment option: 450,000 shares (exercised in full on Dec 5, 2024).
- Use of proceeds: Advertising, headcount for direct billing channel, O&P channel systems, product development/engineering, and working capital.
- Expected closing date: December 6, 2024.
Myomo, Inc. announced its financial results for the third quarter ended September 30, 2024. The filing serves as a formal announcement of quarterly earnings via an attached press release.
📋 Key Facts
- Reporting period: Third Quarter ended September 30, 2024
- Announcement date: November 6, 2024
- The filing includes Exhibit 99.1 containing the full text of the press release.
- Information is furnished under Item 2.02 and not filed for purposes of Section 18 liability.
Myomo, Inc. entered into a long-term lease agreement for approximately 36,208 square feet of office and manufacturing space in Burlington, MA. The facility is intended to serve as the company's new corporate headquarters and manufacturing hub.
🚩 Red Flags
- Significant long-term fixed financial obligation (Item 2.03).
- Cash collateralization of $375,000 reduces immediate liquidity.
- Escalating rent structure increases long-term operating expenses.
📋 Key Facts
- Lease signed on August 9, 2024, with NDB Property Owner 1, L.P.
- Total space: ~36,208 square feet for office, R&D, and light manufacturing.
- Rent commences six months after delivery of initial space (expected Nov 15, 2024).
- Monthly rent starts at $96,250 in year one and escalates to $147,849 by year eight.
- Lease term is approximately 88 months following the rent commencement date.
- Includes a $700,000 tenant improvement allowance.
- Company provided a cash-collateralized letter of credit for $375,000.
Myomo, Inc. announced its financial results for the second quarter ended June 30, 2024. The filing serves as a formal announcement of quarterly earnings via an attached press release.
📋 Key Facts
- Reporting period: Second Quarter ended June 30, 2024
- Announcement date: August 6, 2024
- The filing includes Exhibit 99.1 containing the full text of the press release.
- Information is furnished under Item 2.02 but not 'filed' for purposes of Section 18 liability.
Myomo, Inc. entered into a $4 million revolving line of credit agreement with Silicon Valley Bank (a division of First-Citizens Bank & Trust Company) on July 11, 2024. The facility is intended for working capital and general business purposes and is secured by the company's assets.
🚩 Red Flags
- The facility is secured by a first-priority lien on substantially all company assets (excluding IP).
- Contains restrictive covenants limiting the ability to incur further debt, enter mergers, or pay dividends.
- Event of default includes any third-party acceleration of indebtedness exceeding $100,000.
📋 Key Facts
- Entered into a Loan and Security Agreement with Silicon Valley Bank on July 11, 2024.
- Revolving line of credit up to $4,000,000, with potential increase to $5,500,000 at the Bank's discretion.
- Interest rate is a floating rate: the greater of 8.50% or Prime + 0.50%.
- The facility terminates on its two-year anniversary (July 11, 2026).
- Secured by first priority claim on all company assets except intellectual property and certain customary exceptions.
- Includes a $20,000 commitment fee and various unused/anniversary fees.
Myomo, Inc. announced preliminary revenues and operating metrics for the second quarter ended June 30, 2024. The filing serves as a formal notice to accompany the press release containing these financial updates.
📋 Key Facts
- Report date: July 8, 2024
- Reporting period: Second Quarter ended June 30, 2024
- Content: Preliminary revenues and operating metrics announced via press release (Exhibit 99.1)
- The information is furnished but not 'filed' for purposes of Section 18 liabilities.
Myomo, Inc. held its Annual Meeting of Stockholders on June 5, 2024, to elect directors and ratify the company's independent auditor.
📋 Key Facts
- Annual Meeting of Stockholders held on June 5, 2024.
- Stockholders approved the election of Thomas A. Crowley and Milton M. Morris as Class I directors for three-year terms expiring in 2027.
- Stockholders ratified the appointment of Marcum LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
- As of April 10, 2024, there were 28,799,385 shares of common stock outstanding entitled to vote.
Myomo, Inc. filed an 8-K to announce its financial results for the first quarter ended March 31, 2024. The filing serves as a vehicle to furnish the quarterly earnings press release via Exhibit 99.1.
📋 Key Facts
- Reporting period: First Quarter ended March 31, 2024.
- Announcement date: May 8, 2024.
- The filing includes a press release as Exhibit 99.1 regarding results of operations and financial condition.
Myomo, Inc. announced that it has received lump sum reimbursements and payments from CMS via regional billing contractors (DME MACs). These payments are based on finalized fees for HCPCS codes L8701 and L8702 effective April 1, 2024.
📋 Key Facts
- Received authorizations for lump sum reimbursements from CMS through DME MACs.
- Received payments based on final fees for HCPCS codes L8701 and L8702.
- The fee structure became effective as of April 1, 2024.
- Reimbursements are processed via regional billing contractors (DME MACs).
Myomo, Inc. announced the appointment of Heather Getz to its Board of Directors and her designation as the Audit Committee chair and a financial expert. Ms. Getz brings significant experience from Butterfly Network, Inc., a publicly traded medical device company.
📋 Key Facts
- Board size increased from six to seven members effective March 26, 2024.
- Heather Getz appointed as Class II director and Audit Committee Chair.
- Ms. Getz designated as an 'audit committee financial expert' per SEC rules.
- Compensation includes a $55,000 annual cash retainer (including $5,000 for chair role) and $30,000 in restricted stock units vesting over four quarters.
- Ms. Getz currently serves as EVP and CFO/Operations Officer at Butterfly Network, Inc.
Myomo, Inc. filed an 8-K to announce its financial results for the fourth quarter and full fiscal year ended December 31, 2023.
📋 Key Facts
- Report date: March 7, 2024
- Reporting period: Q4 and Full Year ended December 31, 2023
- The filing includes a press release (Exhibit 99.1) detailing financial results.
- Information is furnished rather than filed under Section 18 of the Exchange Act.
Myomo, Inc. announced that CMS has published final fee schedule payment rates for its MyoPro devices (Motion W and Motion G). These rates are set to become effective on April 1, 2024.
📋 Key Facts
- CMS published final fee schedule payment rates for the company's products.
- Proposed average fee schedule rate for L8701 (Motion W device): $33,480.90.
- Proposed average fee schedule rate for L8702 (Motion G device): $65,871.74.
- Effective date for these new rates is April 1, 2024.
Myomo, Inc. filed an 8-K reporting amended employment and severance agreements for its CFO, David Henry, and CMO, Harry Kovelman, effective February 21, 2024.
🚩 Red Flags
- Enhanced change-in-control acceleration provisions for both the CFO and CMO suggest potential preparation for or sensitivity to M&A activity/liquidation events.
📋 Key Facts
- Amended Employment Agreement for CFO David Henry: Base salary set at $260,000 with an annual incentive up to 55% of base salary.
- CFO Change in Control Provision: Includes immediate acceleration of all time-based and performance-based stock awards if terminated without cause within 12 months following a change in control.
- Amended Severance Agreement for CMO Harry Kovelman: Provides severance (50% annual salary + pro-rata bonus) and 6 months of COBRA coverage upon termination without cause.
- CMO Change in Control Provision: If terminated without cause within 12 months after a change in control, severance payments are extended to be paid over nine months instead of six.
Myomo, Inc. entered into a securities purchase agreement to conduct a $6 million registered direct offering of common stock and pre-funded warrants. The proceeds are intended to scale operations following new Medicare Part B coverage for the company's MyoPro product line.
🚩 Red Flags
- Dilution risk from the issuance of over 1.5 million shares/warrants.
- Involvement of 'certain of the Company’s 5% stockholders and certain directors and employees' in the offering (potential related-party interest).
- 90-day standstill clause limits immediate financing flexibility.
📋 Key Facts
- Offering size: Approximately $6 million in gross proceeds.
- Securities offered: 1,354,218 shares of common stock and 224,730 pre-funded warrants.
- Pricing: $3.80 per share; $3.7999 per pre-funded warrant (representing a $0.0001 exercise price).
- Placement Agent: A.G.P./Alliance Global Partners (7% cash fee + expenses).
- Use of proceeds: Scaling operations for Medicare Part B patients, hiring ~50 employees, and general working capital.
- Standstill provision: 90-day restriction on issuing further equity or filing new registration statements.