MYOHIGH SIGNALFINANCIAL10-K

MYO shows concerning financial deterioration with stockholders' equity declining 54% while total liabilities increased 55%, despite revenue growing substantially.

The company faces a challenging financial position with cash reserves declining significantly to $14.1M from $24.4M while taking on substantial additional debt obligations. New risk language around insufficient capital and restrictive loan covenants with Avenue Capital Management suggests potential liquidity concerns that could constrain operations.

Comparing 2026-03-09 vs 2025-03-10View on EDGAR →
FINANCIAL ANALYSIS

While revenue grew substantially and gross profit increased modestly to $26.9M, the underlying financial position weakened considerably. The balance sheet shows stress with stockholders' equity nearly halving to $11.4M as total liabilities grew meaningfully to $27.2M, indicating increased leverage and potential financial strain. Combined with declining cash reserves and higher R&D spending, this suggests the company is burning through capital while relying more heavily on debt financing.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+56.8%
$1.6M→$2.4M

Strong top-line growth of 56.8% — accelerating demand or successful expansion into new markets.

Total Liabilities
Balance Sheet
+55.4%
$17.5M→$27.2M

Liabilities grew 55.4% — significant increase in debt or obligations, assess impact on financial flexibility.

Stockholders Equity
Balance Sheet
-53.9%
$24.7M→$11.4M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

R&D Expense
P&L
+45.5%
$4.8M→$6.9M

R&D investment increased 45.5% — signals commitment to future product development, though near-term margin impact.

Cash & Equivalents
Balance Sheet
-42%
$24.4M→$14.1M

Cash declined 42% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Capital Expenditure
Cash Flow
+28.1%
$1.4M→$1.7M

Capex increased 28.1% — ongoing investment in capacity or infrastructure for future growth.

Current Liabilities
Balance Sheet
-18%
$10.2M→$8.3M

Current liabilities reduced — improved short-term financial position and working capital health.

Gross Profit
P&L
+16%
$23.2M→$26.9M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Current Assets
Balance Sheet
-16%
$32.8M→$27.6M

Current assets declined 16% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2026-03-09
PRIOR — 2025-03-10
ADDED
At March 2, 2026, the registrant had 38,511,715 shares o f common stock, par value $0.0001 per share, outstanding.
We may not be able to obtain third-party payer reimbursement, including reimbursement by Medicare, for our products.
Changes made by direct to consumer advertising platforms (such as social media) in how they reach prospective patients could adversely impact our lead generation efforts, resulting in higher advertising cost per addition to our patient pipeline and have an adverse effect on revenues.
We may not have sufficient funds to meet our future capital requirements.
The terms of our Loan and Security Agreement with Avenue Capital Management II, L.P.
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REMOVED
At March 1, 2025, the registrant had 34,381,125 sha res of common stock, par value $0.0001 per share, outstanding.
We may not be able to obtain adequate levels of third-party payer reimbursement, including reimbursement by Medicare, for our products.
We currently rely, and in the future will rely, on sales of our MyoPro products for our revenue, and we may not be able to achieve or maintain market acceptance.
Food and Drug Administration, or ( FDA ), listings, select appropriate patients and provide adequate follow-on care.
We are subject to extensive governmental regulations relating to the design, development, manufacturing, labeling and marketing of our products, and a failure to comply with such regulations could lead to withdrawal or recall of our products from the market.
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