The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Myomo's Revenue for the
three
months ended in Mar. 2024 was $3.75 Mil. Myomo's average Accounts Receivable for the
three
months ended in Mar. 2024 was $2.03 Mil.
Hence, Myomo's Receivables Turnover for the
three
months ended in Mar. 2024 was 1.85.
Myomo Receivables Turnover Historical Data
The historical data trend for Myomo's Receivables Turnover can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Myomo's Receivables Turnover
For the Medical Devices subindustry, Myomo's Receivables Turnover, along with its competitors' market caps and Receivables Turnover data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Myomo's Receivables Turnover Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Myomo's Receivables Turnover distribution charts can be found below:
* The bar in red indicates where Myomo's Receivables Turnover falls into.
Myomo Receivables Turnover Calculation
Receivables Turnover measures the number of times a company collects its average accounts receivable balance.
Myomo's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Myomo (AMEX:MYO) Receivables Turnover Explanation
An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.
Myomo Receivables Turnover Related Terms
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Myomo Inc is a wearable medical robotics company that develops, designs, and produces myoelectric orthotics for people with neuromuscular disorders. The MyoPro myoelectric upper limb orthosis product is registered with the Food and Drug Administration as a Class II medical device. The Company provides the device to patients and bills their insurance companies directly, sometimes utilizing the clinical services of orthotics and prosthetics providers for which a fee is paid. The Company sells the product to orthotics and prosthetics providers around the world and the Veterans Health Administration (VA).
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