Myomo, Inc. (NYSE: MYO)

Myomo, Inc. is a wearable medical robotics company that offers functional improvement for those with neuromuscular disorders and upper limb paralysis. The company develops and markets the MyoPro product line, a myoelectric-controlled upper limb brace or orthosis designed to support a patient’s weak or paralyzed arm to enable and help improve functional activities of daily living in the home and community. The MyoPro is custom-fabricated by trained professionals for each individual user to meet their specific needs and is designed to help improve function in adults and adolescents with neuromuscular conditions due to brachial plexus injury, stroke, traumatic brain injury, spinal cord injury and other neurological disorders.

Myomo generates revenue primarily through the sale of its MyoPro devices, which are custom-fabricated limb orthoses. The company bills insurance companies directly under its direct billing channel when providing devices to patients, and also sells through orthotics and prosthetics (O&P) providers, the Veterans Administration, and certain international accounts. Revenue is derived from two HCPCS codes: L8701 (Motion W, a multi-articulated non-powered wrist) and L8702 (Motion G, which includes a powered grasp), with the majority of devices billed under L8702. The company also earns revenue from associated clinical services such as evaluation, measurement, fitting, and training when acting as the provider in the direct billing model.

The company operates through the following segments:

• MyoPro Product Line: This segment encompasses the development, manufacturing, and commercialization of the MyoPro custom fabricated limb orthosis. The MyoPro is a myoelectric-controlled upper limb brace that supports weak or paralyzed arms and helps improve functional activities of daily living. The device consists of a portable arm brace made of lightweight metal and includes advanced signal processing software, non-invasive sensors, small motors, a lightweight battery unit, and 3D printed materials unique to each patient's arm and hand measurements. The segment also includes the MyoPal device for pediatric use, which is part of the product roadmap for future release after the MyoPro3. The MyoPro2x, introduced in April 2025, incorporates more intuitive donning, 3D printed orthotics capability, and software enhancements. The flagship MyoPro 2, introduced in June 2017, features improvements in control technology, new configuration software and user interface, and a longer-lasting, pop-out battery. The MyoPro Motion G product, which allows for movement of multiple joints, generated 96% of product revenue for the year ended December 31, 2025. The segment holds 35 issued patents in the United States and various countries, with 14 pending patent applications, and trademarks including Myomo, MyoPro, MyoPal, MyoCare, and MyoCoach are registered with the U. S. Patent & Trademark Office and in other countries.

Myomo holds a leading position in the niche market of myoelectric limb orthotics for upper extremity paralysis, believing it is the only device commercially available in the United States that helps neuromuscular-impaired individuals regain movement in weak arms and hands using their own muscle signals after therapy. The company faces limited direct competition in this specialized space, with potential alternatives including non-powered braces, rehabilitation therapy, and emerging exoskeleton suits for upper extremity use, though few companies focus specifically on powered orthotics for paralyzed arms. Myomo's competitive advantages stem from its patented EMG control technology, first-mover advantage in the U. S., international presence in Germany and the United Kingdom, and its ability to provide a custom-fabricated, lightweight orthosis that enables self-initiated movement through detected muscle signals without stimulation. The company's intellectual property, including 35 issued patents and trade secrets from over ten years of R&D, supports its market leadership goal.

Myomo serves patients with neuromuscular conditions affecting upper limb function, including those recovering from stroke, brachial plexus injury, spinal cord injury, traumatic brain injury, cerebral palsy, and other neurological disorders. The company works with healthcare providers such as the Cleveland Clinic, Spaulding Rehabilitation Hospital, Loma Linda University Medical Center, Kennedy Krieger Institute, University of Utah, and numerous VA Medical Centers for referrals and clinical collaboration. Myomo also partners with orthotics and prosthetics providers, bills insurance companies directly including Medicare and Medicare Advantage plans, and engages with private health insurers for reimbursement. The company's patient pipeline includes individuals seeking insurance authorization for MyoPro devices, with 1,528 patients in the reimbursement pipeline as of December 31, 2025.