F

Myomo Inc. — Earnings Quality Grade F

MYO · Healthcare

Major red flags

Revenue
$41M
2025
Net Income
-$16M
2025
Gross Margin
65.7%
Free Cash Flow
-$18M
01

Screening Summary

6
Passed
6
Watch
4
Failed
-1.53
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 37 days, change -6 days YoY

A2AR vs Revenue Growth

AR growth 7.1% vs revenue growth 25.7%

A3Revenue vs CFFO

Revenue grew 25.7% but CFFO declined -341.1%

Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.

02

Expense Quality

B1Inventory vs COGS

Inventory -1.4% vs COGS 49.9%. Normal

!
B2CapEx vs Revenue

CapEx growth 145.1% is >2x revenue growth 25.7%

!
B3SG&A Ratio

SG&A/Gross Profit = 127.7%, exceeds 70%

!
B4Gross Margin

Gross margin swung -5.5pp (71.2% → 65.7%)

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO < Net Income for 3 consecutive years

Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.

!
C2Free Cash Flow

FCF is negative ($-0.0B)

C3Accruals Ratio

Accruals ratio = -2.7%. Low accruals

!
C4Cash vs Debt

Cash $0.0B covers 95% of debt $0.0B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.0B = 14% of equity. Manageable

!
D2Leverage

Interest coverage = -31.9x (<2x). Financial stress

D3Soft Asset Growth

Other assets 10.6% vs revenue 25.7%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions negative for 3 years

Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.

E2Goodwill Surge

Insufficient data

06

Manipulation Score

F1Beneish M-Score

M-Score = -1.53 (> -1.78). LIKELY MANIPULATOR

Small-cap context: Beneish M-Score was calibrated on large-caps; small-cap DSO/inventory volatility mechanically inflates it.

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04

Beneish M-Score

Manipulation Probability-1.53
-4.0 Clean-2.22 Grey-1.78 Danger0
0.852
DSRI
AR growing faster than revenue?
1.084
GMI
Gross margin declining?
4.433
AQI
Asset quality deteriorating?
1.257
SGI
Revenue growth rate
0.44
DEPI
Depreciation slowing?
1.11
SGAI
SG&A ratio changing?
-0.0275
TATA
Accruals level
2.103
LVGI
Leverage increasing?
05

Altman Z-Score

-8.86
Distress Zone
0 Distress1.102.605.0+ Safe
0.4972
Liquidity
-3.0719
Cumulative profit
-0.3784
Operating efficiency
0.4187
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25