Myomo Says Given Our Backlog, We're In A Position To Generate More Than $5M In Product Revenue In Q2 Vs $5.12M Est; Says Have The Opportunity To Generate Between $28M-$30M In Revenue In FY24 Vs 26.67M Est.
Portfolio Pulse from Benzinga Newsdesk
Myomo projects over $5M in Q2 product revenue, surpassing the $5.12M estimate, and forecasts $28M-$30M in FY24 revenue, exceeding the $26.67M estimate. The company is expanding capacity and hiring, aiming for operating cash flow breakeven by Q4 2024, contingent on meeting hiring goals and avoiding supply chain disruptions.
May 08, 2024 | 11:10 pm
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Myomo anticipates Q2 product revenue to exceed $5M, beating estimates, and projects FY24 revenue between $28M-$30M, above the $26.67M estimate. The company's expansion and hiring efforts aim for cash flow breakeven by Q4 2024.
Myomo's positive revenue forecast for Q2 and FY24, along with its strategic expansion and hiring, indicate strong growth potential. These factors are likely to positively impact investor sentiment and MYO's stock price in the short term, especially as they exceed previous estimates and set ambitious targets for cash flow breakeven.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100