Myomo Inc.

Good day and welcome to the MyOMO fourth quarter and full year 2025 financial results. All participants will be in a listen only mode. Should you need assistance, please signal conference specialists by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one or your touch tone phone. And to withdraw your question, please press star then two. Please note this event is being recorded I would now like to turn the conference over to Mr. Tarth Patel with Alliance Advisors IR. Please go ahead, sir.

Thank you, operator, and good afternoon, everyone. This is Tarth Patel with Alliance Advisors IR. Welcome to the MIOMA fourth quarter and full year 2025 financial results conference call. With me on today's call are MIOMA's chief executive officer, Paul Godonis, and chief financial officer, Dave Henry. Before we begin, I'd like to caution listeners that statements made during this call by management other than historical facts or forward-looking statements. The words anticipate, believe, estimate, expect, intend, guidance, outlook, confidence, target, project, and other similar expressions are typically used to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and may involve and are subject to risks, uncertainties, and other factors that may affect MIOMA's business, financial condition, and operating results. These risks, uncertainties, and other factors are discussed in MIOMA's filings with the Securities and Exchange Commission. Actual outcomes and results may differ materially from what's expressed in or implied by these forward-looking statements. Furthermore, except as required by law, MIOMA undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call today, March 9th, 2026. Now, my pleasure to turn the call over to MIOMA's CEO, Paul Gadonis. Paul, please go ahead.

Thanks, Terz. Good afternoon, and thank you all for joining us today. During our last quarterly call, I outlined four major objectives for the company. One, continue to grow revenue through our direct-to-patient marketing, as well as expand the number of orders from recurring sources, namely the orthotics and prosthetics channel and the MyoConnect referral program. Number two, increase market access for patients by signing additional payer contracts and engaging with Medicare Advantage and commercial plans for coverage. Number three, manage our cost structure and enhance our manufacturing processes to demonstrate operating leverage as we scale. And number four, continue to innovate in product development to maintain our market leadership position. I'm pleased to report that we've made progress on all four of these objectives. Fourth quarter of 2025 was our strongest revenue quarter of the year with $11.4 million in revenue. This brought our full year revenue to $40.9 million, representing 26% growth over 2024. We also recorded the highest number of orders in the company's history with 241 MyoPros ordered during the quarter, up 5% sequentially from the third quarter. This growth was driven by expanded penetration of the O&P channel, the early success of our MyoConnect clinical referral program, and stronger international revenues. Over the past year, we launched the MyoPro Center of Excellence Program to educate domestic O&P practices on the new MyoPro 2X product and the improved reimbursement environment. O&P providers from national and regional chains to local independent practices ordered approximately 100 myopros last year. In addition, quarterly revenue from the US O&P channel exceeded one million for the first time, and our revenue from the O&P channel was up 81% for the quarter and doubled for the year. To capitalize on the clinical relationships we've developed with therapists at rehab hospitals across the country, We established the MyoConnect program to engage therapists and physicians in referring medically qualified patients to Myomo and our O&P partners. In just the first six months of this program, we've had over 100 qualified candidates enter our patient pipeline, and referrals were nearly 10% of total pipeline ads in the fourth quarter. We'll continue to lean into the MyoConnect program in 2026 as we focus on growing revenues from recurring patient sources. MyoConnect makes sense for clinicians since they want better outcomes for their patients, and these rehab hospitals will continue to provide therapy and training support based on the MyoPro protocol. The strategic pivot to recurring patient sources is already evident in our results. Back in the fourth quarter of 2024, 26% of our revenue came from recurring sources. By the fourth quarter of 2025, that figure had increased to 42%, representing 52% year-over-year growth. Supporting the Above Revenue initiatives is a revised marketing plan that's raising awareness of our products to healthcare professionals and further optimizing our digital marketing to patients. We believe these initiatives, along with better insurance coverage, will reduce our acquisition costs for customers. Our international operations delivered quarterly revenues in excess of $2 million for the first time, growing 46% for the quarter and 48% for the year. The increase was due to growth in the patient pipeline, more O&P clinics and medical professionals sourcing patients for a MyoPro, favorable reimbursement policies from statutory health insurers, and some foreign exchange tailwinds. We're adding more business development and clinical staff to our team in Germany, and we expect continued growth in that market in 2026. However, over in China, we became aware toward the end of the year that the majority shareholder in the joint venture, Reiser Medical, ran into financial problems in its core rehab hospital business and declared bankruptcy. As a result, operations of the JV company are on hold at this time. As you may recall, we received $2.7 million in upfront license payments a few years ago, and we're now working with China Leaf Ventures, a major investor in the JV, to see if the venture can be recapitalized and restructured so they can address that very large market opportunity in that country. Our market access strategy here in the US continues to gain traction, and we've signed in-network contracts with additional Medicare Advantage and commercial payers in the past several months. Most notably, we recently reached a multi-state agreement with Elevents Health, which allows us to begin executing state-by-state in-network contracts across their network, which covers 45 million lives. This represents our first such extensive payer arrangement, which provides for case-by-case authorization. This is significant since we're seeing an increasing number of authorizations from plans where we have a contract. Since we have these agreements on pricing, we don't have to go through a lengthy single case agreement process, and that speeds up the patient's access to MyoPro and our revenue cycle. Our third major initiative is to manage our cost structure. We've taken steps to increase our organizational efficiency, reduce the cost of outside services, and continue to drive down material costs for manufacturing MyoPro units. We're becoming more efficient while investing in critical R&D projects to build on our market leadership. In Q2 of this year, we plan to activate the Myomo mobile app for patients and clinicians, which is now available as a free download in the Apple and Google app stores. The app provides enhanced capabilities and data collection for users, allowing us to reduce the cost of goods sold by eliminating the need to ship a laptop, including our proprietary software, to each MyoPro user. Meanwhile, we expect to roll out other enhancements this year while developing the next generation MyoPro3. Another R&D investment we're making is in a randomized control trial that's being conducted by the University of Utah Rehabilitation Hospital. And this is expected to add to the growing body of research publications, including the two that were released last year. So in summary, we're making significant progress in our strategic pivot to recurring patient sources, an increased number of insurance authorizations and O&P channel orders, and a lower cost structure as we intend to cut the cash burn in half in 2026. With that overview of our results and actions, I'll turn the call over to our CFO, Dave Henry, to provide more of the financials and details.