Myomo (NYSE:MYO) shares ticked up this morning on fourth-quarter results that topped the consensus forecast.
The Boston-based wearable medical robotics company posted losses of -$1.7 million, or -37¢ per share, on sales of $3.8 million for the three months ended Dec. 31, 2020, for a 38.5% bottom-line gain on revenues that were more than doubled year-over-year.
Adjusted to exclude one-time items, losses per share were also -37¢, 10¢ ahead of Wall Street, where Myomo’s revenues beat projections by 14.5%.
“Fourth-quarter revenue was not only a record, it also was equivalent to our full-year 2019 revenue. This is a testament to the adaptability and execution of our team in light of the challenges presented by the COVID-19 pandemic,” Myomo chairman & CEO Paul R. Gudonis said in a news release. “The strategic shift to direct billing implemented in late 2019 is supporting both revenue growth and margin improvement.”
Myomo did not offer specific…