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myomo my own motion Myomo Third Quarter 2021 Financial Results Feature Record Revenue Revenue of $ 4.4 million up 128 % over prior year , up 159 % year - to - date Gross margin of 75 % up 1,900 basis points over prior year Backlog increased to 177 units Conference call begins at 4:30 p.m. Eastern time today BOSTON , Mass . ( November 10 , 2021 ) – Myomo , Inc. ( NYSE American : MYO ) ( “ Myomo " or the " Company " ) , a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper - limb paralysis , today announced financial results for the three and nine months ended September 30 , 2021 . Financial and operational highlights for the third quarter of 2021 include the following ( all comparisons are with the third quarter of 2020 , unless otherwise noted ) : ● Revenue was $ 4.4 million , up 128 % and representing the highest quarterly revenue in the Company's history Revenue from the direct billing channel was a record 85 % of total revenue , up from 74 % in the second quarter of 2021 Revenue Cost of revenue Gross profit Gross margin Revenue units were 102 , up 100 % including 37 units where orders and insurance authorizations were received during the quarter Gross margin was 75 % , up 1,900 basis points Backlog , which represents insurance authorizations and orders received but not yet converted to revenue , was a record 177 units as of September 30 , 2021 , up 11 % from June 30 , 2021 Orders and insurance authorizations were for 133 patients to receive a MyoPro® The reimbursement pipeline as of September 30 , 2021 consisted of 920 MyoPro candidates , including 331 additions to the pipeline during the third quarter Management Commentary " We are proud to be reporting both the highest quarterly revenue and the highest direct billing channel revenue in the Company's history . These achievements demonstrate the continued success of our transition to being a direct provider of the MyoPro to our patients , " stated Paul R. Gudonis , Myomo's chairman and chief executive officer . " Our focus is on growing the pipeline and backlog to position the Company for a strong start to 2022 , while remaining ever mindful of our mission to improve the lives of people with upper - limb paralysis . " Financial Results For the Three Months Ended September 30 , 2021 2020 $ 4,383,957 1,110,204 $ 3,273,753 75 % $ 1,926,660 855,338 $ 1,071,322 56 % Period - to - Period Change $ $ 2,457,297 254,866 $ 2,202,431 % 128 % 30 % 206 % 19 % $ $ For the Nine Months Ended September 30 , 2021 9,824,740 2,634,922 7,189,818 73 % 2020 $ 3,793,395 1,592,851 $ 2,200,544 58 % Period - to - Period Change $ $ 6,031,345 1,042,071 $ 4,989,274 % 159 % 65 % 227 % 16 %