Financial Data and Key Metrics Changes - The company experienced a reset in financials due to headwinds from the UnitedHealthcare decision and NCCN guidelines confusion, leading to a complicated start to the year [6][10] - Q2 was characterized as a step forward, with hereditary cancer and oncology continuing to grow in double digits, while GeneSight saw a recovery to 5% growth after previous challenges [11][12] - The long-range plan (LRP) was set to high singles to low double digits growth, indicating a more cautious outlook compared to previous expectations of over 12% [12][13] Business Line Data and Key Metrics Changes - Hereditary cancer business showed strong growth, particularly on the affected side, while the unaffected side improved faster than anticipated [10][11] - GeneSight's business was reset and saw a return to growth, while the prenatal business faced challenges due to a new management order system rollout, leading to negative volume year over year in Q2 [24][25] - The Polaris business remained stable, with revenue growth year over year, and the partnership with PathomIQ is expected to enhance growth prospects [30][32] Market Data and Key Metrics Changes - The prenatal market is expected to grow in the mid-single digits, with the company aiming to grow above that rate [26] - The company anticipates a stable environment for average selling prices (ASPs) across its portfolio, with Q2 serving as a proof point for this stability [22][23] Company Strategy and Development Direction - The company is focusing on the cancer care continuum as a core area, with a disciplined approach to resource and capital allocation [18][19] - New strategic partnerships, such as with PathomIQ, are being leveraged to enhance product offerings and market presence [19][30] - Execution and urgency are emphasized as critical components for future success, with a commitment to delivering on new product launches [19][49] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in the first quarter but expressed optimism about the recovery trajectory and the execution of the new strategy [10][11] - The company expects to be operating cash flow positive in the back half of the year, with gradual recovery in prenatal volume and continued progress in hereditary cancer volume [42][46] - Management highlighted the importance of new product launches, including an updated myRisk panel and MRD tests, as key drivers for future growth [49] Other Important Information - The company has made significant changes to its executive team, including the appointment of a new CFO and Chief Commercial Officer, to strengthen leadership and execution capabilities [9][10] - The company is addressing operational inefficiencies and aims to grow revenue faster than operating expenses, indicating a focus on sustainable profitable growth [44][45] Q&A Session Summary Question: What is the pricing outlook for hereditary cancer? - Management expressed confidence in the stability of ASPs and noted that Q2 showed positive trends in pricing [21][22] Question: What impact did the new management order system have on prenatal business? - The company acknowledged negative volume due to the rollout but indicated that the issues are now resolved and growth is expected to resume [24][25] Question: How does the partnership with PathomIQ affect the Polaris business? - The partnership is expected to enhance product offerings and improve market perception, contributing to growth in the prostate cancer segment [30][32] Question: What is the company's strategy for MRD? - Management emphasized the size of the MRD market opportunity and the company's strong reputation and access to healthcare systems as key advantages [36][38] Question: What are the expectations for operating cash flow in the second half of the year? - The company anticipates being operating cash flow positive in the back half of the year, with gradual recovery in volumes [46]

Core Insights - Myriad Genetics announced a meta-analysis showing that the GeneSight Psychotropic test significantly improves response and remission rates in patients with major depressive disorder (MDD) compared to treatment as usual (TAU) [1][2][3] Study Details - The meta-analysis included six prospective controlled studies with a total of 3,532 adults with MDD who had experienced at least one treatment failure [4] - Response was defined as a 50% or greater improvement in depression scores, while remission was defined as a score of seven or less on the Hamilton Depression Rating Scale (HAM-D17) or five or less on the Patient Health Questionnaire (PHQ-9) [4] GeneSight Test Overview - The GeneSight Psychotropic test analyzes how a patient's genes may affect their response to 64 commonly prescribed psychiatric medications, aiming to reduce the trial-and-error process in medication management [5] Company Background - Myriad Genetics is a leader in molecular diagnostic testing and precision medicine, focusing on improving patient care and reducing healthcare costs through molecular insights [6]

Company Overview - Myriad Genetics, Inc. is a leader in molecular diagnostic testing and precision medicine, focusing on advancing health and well-being for all [3] - The company develops molecular tests that assess disease risk and guide treatment decisions, aiming to improve patient care and reduce healthcare costs [3] Upcoming Events - Myriad management will participate in two healthcare conferences: the Wells Fargo Healthcare Conference on September 4 at 3:45 PM ET and the Morgan Stanley Annual Global Healthcare Conference on September 10 at 7:45 AM ET [1][4] - Live and archived webcasts of both presentations will be available at investor.myriad.com [2]

Core Points - Myriad Genetics has promoted Ben Wheeler to Chief Financial Officer effective August 16, 2025, succeeding Scott Leffler who will transition to a consulting role [1][2][3] - Ben Wheeler has over 13 years of experience with Myriad, having held various leadership positions since joining in December 2011 [2] - The company reaffirms its financial guidance for the full-year 2025 as announced during its second quarter 2025 earnings call on August 5, 2025 [3] Company Overview - Myriad Genetics is a leader in molecular diagnostic testing and precision medicine, focusing on advancing health and well-being [4] - The company develops molecular tests that assess disease risk and guide treatment decisions, aiming to improve patient care and reduce healthcare costs [4]

Core Insights - The Cancer Risk Survey reveals a contradiction in women's attitudes towards health screenings, with 80% expressing fear of screenings but 75% finding reassurance in advanced screenings like genetic testing [1][2][3] Group 1: Survey Findings - 37% of women believe genetic testing can aid in managing breast health, yet around 40% are unaware of its existence [2] - Only 14% of respondents have undergone genetic testing, while over 25% of women in OB/GYN settings qualify for hereditary cancer testing [2][3] - More than 50% of respondents consider knowing their parents' health history very important, but only about 30% know it very well [4] Group 2: Importance of Genetic Testing - Genetic tests, such as the MyRisk Hereditary Cancer Test with RiskScore, provide critical information about hereditary cancer risks, leading to more frequent screenings if necessary [3][6] - Combining genetic insights with family history can help calculate a woman's five-year and lifetime risk of breast cancer, offering options for medical management [6] Group 3: Survey Methodology - The nationwide survey was conducted online with a sample of 1,002 English-speaking adult females, including 404 who met hereditary cancer risk testing criteria [7] - The margin of error for the total sample is +/- 3.1%, and for high-risk women, it is +/- 4.9% at a 95% confidence level [8]

Core Insights - Myriad Genetics reported a 1% year-over-year increase in revenues for Q2 2025, totaling $213.1 million [2] Company Overview - Myriad Genetics is involved in the biotechnology sector, focusing on genetic testing and related services [2] - The company has a model portfolio that includes small and mid-cap stocks, providing deep analysis for investors [2] Financial Performance - The revenue growth of Myriad Genetics is attributed to specific items that occurred during the reporting period [2]

PART I - Financial Information [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Myriad Genetics, Inc.'s unaudited condensed consolidated financial statements and accompanying notes, detailing accounting policies, revenue, assets, debt, equity, and cash flows [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) | (in millions) | June 30, 2025 | December 31, 2024 | | :-------------- | :------------ | :---------------- | | **ASSETS** | | | | Total current assets | $284.3 | $298.0 | | Operating lease right-of-use assets | 51.2 | 55.0 | | Property, plant, and equipment, net | 113.0 | 117.4 | | Intangibles, net | 170.1 | 262.4 | | Goodwill | 51.6 | 286.3 | | Other assets | 7.1 | 8.5 | | **Total assets** | **$677.3** | **$1,027.6** | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | Total current liabilities | $199.9 | $164.1 | | Unrecognized tax benefits | 1.2 | 32.7 | | Long-term debt | — | 39.6 | | Noncurrent operating lease liabilities | 86.2 | 87.9 | | Other long-term liabilities | 1.9 | 2.2 | | **Total liabilities** | **$289.2** | **$326.5** | | Total stockholders' equity | $388.1 | $701.1 | | **Total liabilities and stockholders' equity** | **$677.3** | **$1,027.6** | - Total assets decreased by **$350.3 million** from December 31, **2024**, to June 30, **2025**, primarily due to significant reductions in goodwill and intangible assets[11](index=11&type=chunk) - Total stockholders' equity decreased by **$313.0 million**, largely driven by an increase in accumulated deficit from **$(756.8) million** to **$(1,087.4) million**[11](index=11&type=chunk) [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) | (in millions, except per share amounts) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Revenue | $213.1 | $211.5 | $409.0 | $413.7 | | Cost of revenue | 61.3 | 64.4 | 123.0 | 128.9 | | Gross profit | 151.8 | 147.1 | 286.0 | 284.8 | | Research and development expense | 25.6 | 27.1 | 53.1 | 52.7 | | Sales and marketing expense | 71.9 | 72.8 | 141.1 | 142.2 | | General and administrative expense | 66.8 | 72.1 | 133.3 | 142.7 | | Goodwill and long-lived asset impairment charges | 316.7 | 11.6 | 316.7 | 11.6 | | Total operating expenses | 481.0 | 183.6 | 644.2 | 349.2 | | Operating loss | (329.2) | (36.5) | (358.2) | (64.4) | | Net loss | $(330.5) | $(36.7) | $(330.6) | $(62.7) | | Net loss per share: Basic and Diluted | $(3.57) | $(0.41) | $(3.59) | $(0.69) | - The Company reported a significant increase in net loss for both the three and six months ended June 30, **2025**, primarily driven by **$316.7 million** in goodwill and long-lived asset impairment charges[14](index=14&type=chunk) [Condensed Consolidated Statements of Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net loss | $(330.5) | $(36.7) | $(330.6) | $(62.7) | | Change in unrealized loss on available-for-sale debt securities, net of tax | — | 0.1 | — | 0.1 | | Change in foreign currency translation adjustment, net of tax | 0.5 | 0.1 | 0.7 | (1.0) | | Reclassification of cumulative translation adjustment to income upon sale or liquidation of certain foreign entities, net of tax | — | — | — | 0.7 | | **Comprehensive loss** | **$(330.0)** | **$(36.5)** | **$(329.9)** | **$(62.9)** | - Comprehensive loss for the six months ended June 30, **2025**, was **$(329.9) million**, largely mirroring the net loss, with a positive foreign currency translation adjustment of **$0.7 million**[16](index=16&type=chunk) [Condensed Consolidated Statements of Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) | (in millions) | Common stock | Additional paid-in capital | Accumulated other comprehensive loss | Accumulated deficit | Myriad Genetics, Inc. Stockholders' equity | | :-------------- | :----------- | :------------------------- | :--------------------------------- | :------------------ | :--------------------------------------- | | BALANCES AT DECEMBER 31, 2024 | $0.9 | $1,457.8 | $(0.8) | $(756.8) | $701.1 | | Issuance of common stock under stock-based compensation plans, net of shares exchanged for withholding tax | — | (5.8) | — | — | (5.8) | | Stock-based compensation expense | — | 9.5 | — | — | 9.5 | | Net loss | — | — | — | (0.1) | (0.1) | | Other comprehensive income, net of tax | — | — | 0.2 | — | 0.2 | | BALANCES AT MARCH 31, 2025 | $0.9 | $1,461.5 | $(0.6) | $(756.9) | $704.9 | | Issuance of common stock under stock-based compensation plans, net of shares exchanged for withholding tax | — | 2.5 | — | — | 2.5 | | Stock-based compensation expense | — | 10.7 | — | — | 10.7 | | Net loss | — | — | — | (330.5) | (330.5) | | Other comprehensive income, net of tax | — | — | 0.5 | — | 0.5 | | BALANCES AT JUNE 30, 2025 | $0.9 | $1,474.7 | $(0.1) | $(1,087.4) | $388.1 | - Total stockholders' equity significantly decreased from **$701.1 million** at December 31, **2024**, to **$388.1 million** at June 30, **2025**, primarily due to the net loss of **$(330.5) million** incurred during the period[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) | (in millions) | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :----------------------------- | :----------------------------- | | **CASH FLOWS FROM OPERATING ACTIVITIES:** | | | | Net loss | $(330.6) | $(62.7) | | Impairment of goodwill and long-lived assets | 316.7 | 12.8 | | Net cash used in operating activities | $(29.9) | $(16.0) | | **CASH FLOWS FROM INVESTING ACTIVITIES:** | | | | Capital expenditures | $(8.1) | $(11.9) | | Capitalization of intangible assets | $(7.1) | $(5.6) | | Net cash used in investing activities | $(15.2) | $(13.5) | | **CASH FLOWS FROM FINANCING ACTIVITIES:** | | | | Proceeds from revolving credit facility | 40.0 | 80.0 | | Repayment of revolving credit facility | (20.5) | (80.0) | | Net cash provided by (used in) financing activities | $16.2 | $(6.4) | | **Net decrease in cash, cash equivalents, and restricted cash** | **$(28.2)** | **$(39.7)** | | Cash, cash equivalents, and restricted cash at end of the period | $83.7 | $101.2 | - Net cash used in operating activities increased to **$(29.9) million** for the six months ended June 30, **2025**, from **$(16.0) million** in the prior year, despite a large non-cash impairment charge[22](index=22&type=chunk) - Financing activities provided **$16.2 million** in cash in **2025**, a significant improvement from cash used in **2024**, primarily due to net proceeds from the revolving credit facility[22](index=22&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The notes provide critical context for the financial statements, detailing the Company's business, accounting policies, and significant events impacting financial performance[23](index=23&type=chunk)[24](index=24&type=chunk)[25](index=25&type=chunk) [1. BASIS OF PRESENTATION](index=11&type=section&id=1.%20BASIS%20OF%20PRESENTATION) - Myriad Genetics, Inc. is a molecular diagnostic testing and precision company, with financial statements prepared in accordance with U.S. GAAP for interim reporting[23](index=23&type=chunk)[24](index=24&type=chunk) - The Company's business experiences seasonality, with the quarters ending March 31 and September 30 typically weaker due to annual patient deductible resets and summer vacation schedules[26](index=26&type=chunk) [2. REVENUE](index=11&type=section&id=2.%20REVENUE) - Revenue is primarily generated from molecular diagnostic testing and recognized when test results are released to healthcare providers or patients[30](index=30&type=chunk) | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Hereditary Cancer | $96.3 | $91.5 | $182.6 | $179.6 | | Tumor Profiling | 31.4 | 32.6 | 60.7 | 63.5 | | Prenatal | 47.6 | 44.4 | 96.9 | 88.7 | | Pharmacogenomics | 37.8 | 43.0 | 68.8 | 81.9 | | **Total revenue** | **$213.1** | **$211.5** | **$409.0** | **$413.7** | [3. FAIR VALUE MEASUREMENTS](index=12&type=section&id=3.%20FAIR%20VALUE%20MEASUREMENTS) - The Company classifies fair value measurements into a three-level hierarchy, with long-term debt considered a **Level 2** measurement[33](index=33&type=chunk)[34](index=34&type=chunk)[35](index=35&type=chunk) - The fair value of the Company's current debt was estimated at **$59.7 million** as of June 30, **2025**[35](index=35&type=chunk) [4. PROPERTY, PLANT, AND EQUIPMENT, NET](index=14&type=section&id=4.%20PROPERTY,%20PLANT,%20AND%20EQUIPMENT,%20NET) | (in millions) | June 30, 2025 | December 31, 2024 | | :-------------- | :------------ | :---------------- | | Leasehold improvements | $79.2 | $78.5 | | Equipment | 113.2 | 148.5 | | Property, plant, and equipment, gross | 192.4 | 227.0 | | Less accumulated depreciation | (79.4) | (109.6) | | **Property, plant, and equipment, net** | **$113.0** | **$117.4** | | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Depreciation expense | $4.9 | $4.6 | $10.0 | $9.7 | [5. GOODWILL AND INTANGIBLE ASSETS](index=14&type=section&id=5.%20GOODWILL%20AND%20INTANGIBLE%20ASSETS) - The Company recognized a goodwill impairment charge of **$234.7 million** during the quarter ended June 30, **2025**, due to a sustained decline in market capitalization and downward revisions to forecasts[37](index=37&type=chunk)[39](index=39&type=chunk) | (in millions) | Total | | :-------------- | :---- | | Beginning balance | $286.3 | | Goodwill impairment | (234.7) | | **Ending balance** | **$51.6** | - Intangible asset impairment charges totaled **$82.0 million** for the Pharmacogenomics (**$71.8 million**) and Gateway (**$10.2 million**) asset groups during the period ended June 30, **2025**[41](index=41&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk) [6. ACCRUED LIABILITIES](index=17&type=section&id=6.%20ACCRUED%20LIABILITIES) | (in millions) | June 30, 2025 | December 31, 2024 | | :-------------- | :------------ | :---------------- | | Employee compensation and benefits | $40.5 | $57.4 | | Accrued taxes payable | 5.1 | 5.1 | | Refunds payable and reserves | 18.0 | 19.9 | | Accrued royalties | 5.7 | 6.5 | | Escrow Liability | 7.5 | 7.5 | | Other accrued liabilities | 23.8 | 22.6 | | **Total accrued liabilities** | **$100.6** | **$119.0** | - Total accrued liabilities decreased by **$18.4 million** from December 31, **2024**, to June 30, **2025**, primarily due to a reduction in employee compensation and benefits[45](index=45&type=chunk) [7. DEBT](index=17&type=section&id=7.%20DEBT) - As of June 30, **2025**, the Company had **$59.4 million** in current debt under the ABL Facility, which was fully repaid subsequent to quarter-end with proceeds from a new term loan facility[46](index=46&type=chunk)[50](index=50&type=chunk) - The weighted average interest rate for borrowings under the ABL Facility was **6.7%** as of June 30, **2025**, down from **7.8%** at December 31, **2024**[48](index=48&type=chunk) [8. PREFERRED AND COMMON STOCKHOLDERS' EQUITY](index=19&type=section&id=8.%20PREFERRED%20AND%20COMMON%20STOCKHOLDERS'%20EQUITY) - As of June 30, **2025**, there were **93.1 million** shares of common stock issued and outstanding, an increase from **91.3 million** at December 31, **2024**[52](index=52&type=chunk)[53](index=53&type=chunk) | (in millions) | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :----------------------------- | :----------------------------- | | Beginning common stock issued and outstanding | 91.3 | 89.9 | | Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plan | 1.8 | 1.0 | | **Common stock issued and outstanding at end of period** | **93.1** | **90.9** | - **8.3 million** anti-dilutive options and RSUs were excluded from the computation of diluted earnings per share for the three and six months ended June 30, **2025**[54](index=54&type=chunk) [9. STOCK-BASED COMPENSATION](index=19&type=section&id=9.%20STOCK-BASED%20COMPENSATION) - Stockholders approved an amendment to the **2017** Plan in June **2025**, increasing available shares for awards by **6.5 million**, with **5.3 million** shares remaining available for grant as of June 30, **2025**[55](index=55&type=chunk) | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Cost of revenue | $0.3 | $0.4 | $0.6 | $0.7 | | Research and development expense | 2.0 | 1.6 | 4.1 | 2.8 | | Sales and marketing expense | 2.0 | 2.6 | 3.5 | 4.5 | | General and administrative expense | 6.4 | 9.9 | 12.0 | 18.5 | | **Total stock-based compensation expense** | **$10.7** | **$14.5** | **$20.2** | **$26.5** | - As of June 30, **2025**, there was **$66.2 million** of total unrecognized stock-based compensation expense related to RSUs, expected to be recognized over a weighted-average period of **2.1 years**[62](index=62&type=chunk) [10. INCOME TAXES](index=21&type=section&id=10.%20INCOME%20TAXES) | (in millions) | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Income tax benefit | $(0.1) | $(0.5) | $(29.4) | $(0.4) | | Effective tax rate | 0.0% | 1.3% | 8.2% | 0.6% | - For the six months ended June 30, **2025**, the income tax benefit was **$29.4 million**, significantly higher than the prior year, primarily due to a **$29.6 million** discrete tax benefit from the release of unrecognized tax benefits related to CARES Act tax refund claims[63](index=63&type=chunk)[64](index=64&type=chunk) [11. LEASES](index=23&type=section&id=11.%20LEASES) - The Company leases various assets including office spaces, R&D facilities, vehicles, and office equipment, with remaining lease terms ranging from one to fourteen years[66](index=66&type=chunk) - An amendment in **2024** to the west Salt Lake City facility lease added approximately **63,000 square feet** of laboratory space, with future rent payments totaling **$18.2 million** commencing in fiscal year **2026**[67](index=67&type=chunk) [12. COMMITMENTS AND CONTINGENCIES](index=23&type=section&id=12.%20COMMITMENTS%20AND%20CONTINGENCIES) - The Company is involved in various legal disputes, claims, and investigations, including a qui tam lawsuit filed in November **2022** alleging False Claims Act violations related to physician remuneration[68](index=68&type=chunk)[74](index=74&type=chunk) - As of June 30, **2025**, no material accrual for loss contingencies associated with legal proceedings has been recorded, but an unfavorable outcome could be material to the Company's financial results[72](index=72&type=chunk) [13. SEGMENT REPORTING AND RELATED INFORMATION](index=24&type=section&id=13.%20SEGMENT%20REPORTING%20AND%20RELATED%20INFORMATION) - The Company operates as a single operating segment, with the President and Chief Executive Officer identified as the Chief Operating Decision Maker[75](index=75&type=chunk) [14. SUPPLEMENTAL CASH FLOW INFORMATION](index=24&type=section&id=14.%20SUPPLEMENTAL%20CASH%20FLOW%20INFORMATION) | (in millions) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------- | :----------------------------- | :----------------------------- | | Cash paid for income taxes | $0.3 | $1.3 | | Cash paid for interest | 1.7 | 0.7 | | (in millions) | June 30, 2025 | June 30, 2024 | | :-------------- | :------------ | :------------ | | Cash and cash equivalents | $74.4 | $92.4 | | Restricted cash | 9.3 | 8.8 | | **Total cash, cash equivalents, and restricted cash** | **$83.7** | **$101.2** | [15. ACCUMULATED OTHER COMPREHENSIVE LOSS](index=25&type=section&id=15.%20ACCUMULATED%20OTHER%20COMPREHENSIVE%20LOSS) - Foreign currency translation adjustments are included in Accumulated other comprehensive loss as a separate component of Stockholders' equity[79](index=79&type=chunk) | (in millions) | | | :-------------- | :---- | | Ending balance December 31, 2024 | $(0.8) | | Period translation adjustments | 0.7 | | **Ending balance June 30, 2025** | **$(0.1)** | [16. SUBSEQUENT EVENTS](index=25&type=section&id=16.%20SUBSEQUENT%20EVENTS) - On July 31, **2025**, the Company entered into a new **$200 million** term loan credit facility with OrbiMed, with an initial **$125 million** funded, used to repay the existing ABL Facility (**$60.2 million**)[81](index=81&type=chunk) - The new Credit Facility matures on **July 31, 2030**, bears interest at one-month SOFR Rate (min **2.50%**) plus a **6.50%** margin, and includes a minimum trailing twelve-month revenue test starting at **$615.0 million** in December **2025**[82](index=82&type=chunk)[85](index=85&type=chunk) - The 'One Big Beautiful Bill Act,' signed into law on July 4, **2025**, is not expected to have a material impact on the Company's current or net deferred tax balances[86](index=86&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the Company's financial performance and condition for the three and six months ended June 30, 2025, covering revenue, operating expenses, significant impairment charges, liquidity, and critical accounting estimates [General](index=29&type=section&id=General) - Myriad is a leading molecular diagnostic testing and precision company focused on advancing health through molecular tests that assess disease risk and guide treatment decisions[93](index=93&type=chunk) - The Company's strategy is built on three pillars: driving accelerated growth and profitability in the Cancer Care Continuum market, growing Prenatal Health and Mental Health revenues, and delivering sustained, profitable growth through financial discipline[94](index=94&type=chunk) [Business Updates](index=30&type=section&id=Business%20Updates) - In July **2025**, the Company closed a **$125 million** secured term debt financing with OrbiMed, with an option for an additional **$75 million**[98](index=98&type=chunk) - The Company launched early access of FirstGene Multiple Prenatal Screen in June **2025** through a large, multi-site study called CONNECTOR[98](index=98&type=chunk) - MRD data from the MONSTAR-SCREEN-3 study, presented in May **2025**, demonstrated successful pan-cancer implementation of WGS-based personalized ctDNA detection, highlighting the potential of the Precise MRD test[98](index=98&type=chunk) [Results of Operations for the Three Months Ended June 30, 2025 and 2024](index=30&type=section&id=Results%20of%20Operations%20for%20the%20Three%20Months%20Ended%20June%2030,%202025%20and%202024) For the three months ended June 30, 2025, total revenue increased slightly by $1.6 million, but significant goodwill and long-lived asset impairment charges of $316.7 million led to a substantial operating and net loss [Revenue](index=30&type=section&id=Revenue_3M) | (in millions) | 2025 | 2024 | Change | % of Total Revenue 2025 | % of Total Revenue 2024 | | :-------------- | :--- | :--- | :----- | :---------------------- | :---------------------- | | Hereditary Cancer | $96.3 | $91.5 | $4.8 | 45% | 44% | | Tumor Profiling | 31.4 | 32.6 | (1.2) | 15% | 15% | | Prenatal | 47.6 | 44.4 | 3.2 | 22% | 21% | | Pharmacogenomics | 37.8 | 43.0 | (5.2) | 18% | 20% | | **Total revenue** | **$213.1** | **$211.5** | **$1.6** | **100%** | **100%** | | (in thousands) | 2025 | 2024 | % Change | | :-------------- | :--- | :--- | :------- | | Hereditary Cancer | 78 | 73 | 7% | | Tumor Profiling | 12 | 14 | (14)% | | Prenatal | 159 | 173 | (8)% | | Pharmacogenomics | 135 | 129 | 5% | | **Total** | **384** | **389** | **(1)%** | - Pharmacogenomics revenue decreased by **$5.2 million** due to a **16% decrease** in average revenue per test, negatively impacted by UnitedHealthcare's change in GeneSight test coverage[97](index=97&type=chunk) [Cost of Revenue](index=32&type=section&id=Cost%20of%20Revenue_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Cost of revenue | $61.3 | $64.4 | $(3.1) | (5)% | | Cost of revenue as a % of total revenue | 28.8% | 30.4% | | | - Cost of revenue decreased by **$3.1 million**, primarily due to a reduction in the cost per test driven by lower costs of laboratory reagents and supplies[99](index=99&type=chunk) [Research and Development Expense](index=32&type=section&id=Research%20and%20Development%20Expense_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Research and development expense | $25.6 | $27.1 | $(1.5) | (6)% | | Research and development expense as a % of total revenue | 12.0% | 12.8% | | | - Research and development expenses remained relatively consistent year-over-year, reflecting stable operating activities and disciplined cost management[100](index=100&type=chunk) [Sales and Marketing Expense](index=32&type=section&id=Sales%20and%20Marketing%20Expense_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Sales and marketing expense | $71.9 | $72.8 | $(0.9) | (1)% | | Sales and marketing expense as a % of total revenue | 33.7% | 34.4% | | | - Sales and marketing expenses were relatively consistent with the prior year, indicating stable operating activities[101](index=101&type=chunk) [General and Administrative Expense](index=32&type=section&id=General%20and%20Administrative%20Expense_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | General and administrative expense | $66.8 | $72.1 | $(5.3) | (7)% | | General and administrative expense as a % of total revenue | 31.3% | 34.1% | | | - General and administrative expense decreased by **$5.3 million**, primarily due to lower consulting fees, reduced amortization for previously impaired intangible assets, and decreased compensation expenses[102](index=102&type=chunk) [Goodwill and Long-lived Asset Impairment Charges](index=32&type=section&id=Goodwill%20and%20Long-lived%20Asset%20Impairment%20Charges_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Goodwill and long-lived asset impairment charges | $316.7 | $11.6 | $305.1 | 2,630% | | Goodwill and long-lived asset impairment charges as a % of total revenue | 148.6% | 5.5% | | | - The significant increase in impairment charges in **2025** includes **$234.7 million** for goodwill and **$82.0 million** for intangible assets related to the Women's Health and Pharmacogenomics reporting units[103](index=103&type=chunk) [Other Income (Expense), Net](index=34&type=section&id=Other%20Income%20(Expense),%20Net_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Other income (expense), net | $(1.4) | $(0.7) | $(0.7) | 100.0% | - Other income (expense), net decreased by **$0.7 million** due to an increase in interest expense[104](index=104&type=chunk) [Income Tax Benefit](index=34&type=section&id=Income%20Tax%20Benefit_3M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Income tax benefit | $(0.1) | $(0.5) | $0.4 | (80.0)% | | Effective tax rate | 0.0% | 1.3% | | | - The effective tax rate for the three months ended June 30, **2025**, was **0.0%**, differing from the U.S. federal statutory rate primarily due to valuation allowances and uncertain tax positions, including a valuation allowance against tax-deductible loss from impairment charges[106](index=106&type=chunk) [Results of Operations for the Six Months Ended June 30, 2025 and 2024](index=34&type=section&id=Results%20of%20Operations%20for%20the%20Six%20Months%20Ended%20June%2030,%202025%20and%202024) For the six months ended June 30, 2025, total revenue decreased by $4.7 million, primarily due to declines in Pharmacogenomics and Tumor Profiling, while significant impairment charges of $316.7 million resulted in a substantial net loss [Revenue](index=34&type=section&id=Revenue_6M) | (in millions) | 2025 | 2024 | Change | % of Total Revenue 2025 | % of Total Revenue 2024 | | :-------------- | :--- | :--- | :----- | :---------------------- | :---------------------- | | Hereditary Cancer | $182.6 | $179.6 | $3.0 | 44% | 44% | | Tumor Profiling | 60.7 | 63.5 | (2.8) | 15% | 15% | | Prenatal | 96.9 | 88.7 | 8.2 | 24% | 21% | | Pharmacogenomics | 68.8 | 81.9 | (13.1) | 17% | 20% | | **Total revenue** | **$409.0** | **$413.7** | **$(4.7)** | **100%** | **100%** | | (in thousands) | 2025 | 2024 | % Change | | :-------------- | :--- | :--- | :------- | | Hereditary Cancer | 151 | 144 | 5% | | Tumor Profiling | 24 | 28 | (14)% | | Prenatal | 332 | 345 | (4)% | | Pharmacogenomics | 262 | 253 | 4% | | **Total** | **769** | **770** | **—%** | - Pharmacogenomics revenue decreased by **$13.1 million** due to a **19% decrease** in average revenue per test, significantly impacted by UnitedHealthcare's coverage changes for the GeneSight test[110](index=110&type=chunk) [Cost of Revenue](index=35&type=section&id=Cost%20of%20Revenue_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Cost of revenue | $123.0 | $128.9 | $(5.9) | (5)% | | Cost of revenue as a % of total revenue | 30.1% | 31.2% | | | - Cost of revenue decreased by **$5.9 million**, primarily due to a reduction in the cost per test driven by lower costs of laboratory reagents and supplies[111](index=111&type=chunk) [Research and Development Expense](index=35&type=section&id=Research%20and%20Development%20Expense_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Research and development expense | $53.1 | $52.7 | $0.4 | 1% | | Research and development expense as a % of total revenue | 13.0% | 12.7% | | | - Research and development expenses remained relatively consistent year-over-year, reflecting stable operating activities[112](index=112&type=chunk) [Sales and Marketing Expense](index=35&type=section&id=Sales%20and%20Marketing%20Expense_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Sales and marketing expense | $141.1 | $142.2 | $(1.1) | (1)% | | Sales and marketing expense as a % of total revenue | 34.5% | 34.4% | | | - Sales and marketing expenses were relatively consistent with the prior year[113](index=113&type=chunk) [General and Administrative Expense](index=35&type=section&id=General%20and%20Administrative%20Expense_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | General and administrative expense | $133.3 | $142.7 | $(9.4) | (7)% | | General and administrative expense as a % of total revenue | 32.6% | 34.5% | | | - General and administrative expense decreased by **$9.4 million**, primarily due to lower consulting fees (**$4.1 million**), reduced amortization for previously impaired intangible assets (**$3.4 million**), and decreased compensation and benefits (**$3.2 million**)[114](index=114&type=chunk) [Goodwill and Long-lived Asset Impairment Charges](index=36&type=section&id=Goodwill%20and%20Long-lived%20Asset%20Impairment%20Charges_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Goodwill and long-lived asset impairment charges | $316.7 | $11.6 | $305.1 | 2,630% | | Goodwill and long-lived asset impairment charges as a % of total revenue | 77.4% | 2.8% | | | - The significant increase in impairment charges in **2025** includes **$234.7 million** for goodwill and **$82.0 million** for intangible assets related to the Women's Health and Pharmacogenomics reporting units[115](index=115&type=chunk) [Other Income (Expense), Net](index=36&type=section&id=Other%20Income%20(Expense),%20Net_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Other income (expense), net | $(1.8) | $1.3 | $(3.1) | (238)% | - Other income (expense), net changed from a gain in **2024** to a loss in **2025**, primarily due to an increase in interest expense in **2025** and a **$2.2 million** gain recognized on the Precise Tumor acquisition in **2024**[116](index=116&type=chunk) [Income Tax Benefit](index=36&type=section&id=Income%20Tax%20Benefit_6M) | (in millions) | 2025 | 2024 | Change | % Change | | :-------------- | :--- | :--- | :----- | :------- | | Income tax benefit | $(29.4) | $(0.4) | $(29.0) | 7,250% | | Effective tax rate | 8.2% | 0.6% | | | - The significant increase in income tax benefit for the six months ended June 30, **2025**, was primarily due to a **$29.6 million** discrete tax benefit from the release of unrecognized tax benefits related to CARES Act tax refund claims[118](index=118&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) - The Company's primary sources of liquidity are cash and cash equivalents, expected cash flows from operations, and amounts available under its new debt financing with OrbiMed[119](index=119&type=chunk) - On July 31, **2025**, the Company entered into a new **$200 million** term loan credit facility with OrbiMed, with an initial **$125 million** draw used to refinance existing indebtedness, including the ABL Facility[120](index=120&type=chunk) - The new Credit Facility imposes operating and financial restrictions, including a minimum trailing twelve-month revenue test, and is secured by substantially all of the Company's assets[124](index=124&type=chunk) | (in millions) | June 30, 2025 | December 31, 2024 | Change | | :-------------- | :------------ | :---------------- | :----- | | Cash and cash equivalents | $74.4 | $102.4 | $(28.0) | - UnitedHealthcare's updated medical policy for pharmacogenetic testing (GeneSight) is expected to continue negatively impacting the Company's revenue, profitability, and cash flow in **2025** and beyond[128](index=128&type=chunk) [Effects of Inflation](index=39&type=section&id=Effects%20of%20Inflation) - Inflation has impacted and may continue to impact labor costs, costs to generate sales and produce testing results, and costs of laboratory supplies, potentially affecting profitability[134](index=134&type=chunk) - Increased inflation has also affected interest rates, which could adversely impact the Company's borrowing rate and ability to obtain additional funding[134](index=134&type=chunk) [Critical Accounting Estimates](index=39&type=section&id=Critical%20Accounting%20Estimates) - During the second quarter of **2025**, an impairment triggering event occurred due to a sustained decline in market capitalization and downward revisions to forecasts, necessitating quantitative impairment testing of goodwill and intangible assets[135](index=135&type=chunk) - Based on these assessments, the Company recognized total goodwill and asset impairment charges of **$316.7 million**[136](index=136&type=chunk) [Goodwill](index=39&type=section&id=Goodwill_Critical_Accounting_Estimates) - A total goodwill impairment charge of **$234.7 million** was recognized in Q2 **2025**, with **$143.5 million** attributable to the Women's Health reporting unit and **$91.2 million** to the Pharmacogenomics reporting unit[138](index=138&type=chunk) - The fair value of the Pharmacogenomics and Women's Health reporting units was measured using market and discounted cash flow approaches, with discount rates of **17.0%** and **16.0%**, respectively[139](index=139&type=chunk) [Intangible Assets](index=40&type=section&id=Intangible%20Assets_Critical_Accounting_Estimates) - Intangible asset impairment charges totaled **$82.0 million** in Q2 **2025**, including **$71.8 million** for Pharmacogenomics developed technology and **$10.2 million** for Gateway intangible assets[144](index=144&type=chunk)[145](index=145&type=chunk) - Fair values were determined using discounted cash flow and relief from royalty models, with discount rates of **17%** for Pharmacogenomics and **16%** for Gateway asset groups[144](index=144&type=chunk)[145](index=145&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=41&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section discusses the Company's exposure to market risks, primarily related to interest rates and foreign currency exchange rates, and their potential impact on financial performance [Interest Rate Risk](index=41&type=section&id=Interest%20Rate%20Risk) - The Company is exposed to interest rate risk through its credit facilities, with a variable interest rate based on SOFR for the new Credit Facility[149](index=149&type=chunk) - A hypothetical **100 basis point** change in the borrowing rate would increase or decrease annual interest expense by **$1.3 million** based on the initial **$125.0 million** draw on the new Credit Facility[149](index=149&type=chunk) [Foreign Currency Exchange Risk](index=41&type=section&id=Foreign%20Currency%20Exchange%20Risk) - Approximately **7%** of the Company's revenue for the three and six months ended June 30, **2025**, was denominated in other currencies, primarily Japanese yen[148](index=148&type=chunk) - A hypothetical **10% change** in the value of the Japanese yen relative to the U.S. dollar would result in a **1% change** in the Company's revenue[148](index=148&type=chunk) - The Company does not currently utilize hedging strategies to mitigate foreign currency risk[148](index=148&type=chunk) [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) This section details the evaluation of the Company's disclosure controls and procedures and reports on any changes in internal control over financial reporting [Evaluation of Disclosure Controls and Procedures](index=41&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) - As of June 30, **2025**, the Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective to provide reasonable assurance for timely and accurate reporting[151](index=151&type=chunk) [Changes in Internal Controls](index=41&type=section&id=Changes%20in%20Internal%20Controls) - There were no material changes in the Company's internal control over financial reporting during the three months ended June 30, **2025**[152](index=152&type=chunk) PART II - Other Information [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 12 of the financial statements for detailed information regarding current legal proceedings, including a qui tam lawsuit - Information regarding certain current legal proceedings, including a qui tam lawsuit, is provided in Note **12** to the Condensed Consolidated Financial Statements[153](index=153&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) This section updates key risk factors that could materially affect the Company's business, financial condition, or future results, including those related to liquidity, debt covenants, and changes in insurance coverage - The Company faces risks related to generating sufficient cash flow from operations and securing additional funding, as available capital resources may be consumed more rapidly than expected[155](index=155&type=chunk)[157](index=157&type=chunk) - The new Credit Facility imposes operating and financial restrictions, including a minimum trailing twelve-month revenue test, and non-compliance could have a material adverse impact on operations and liquidity[161](index=161&type=chunk) - UnitedHealthcare's updated medical policy for pharmacogenetic testing (GeneSight) is anticipated to continue negatively impacting the Company's revenue, profitability, and cash flow in **2025** and beyond[160](index=160&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section states that there were no unregistered sales of equity securities and no repurchases of equity securities during the quarter ended June 30, 2025 - There were no unregistered sales of equity securities during the quarter ended June 30, **2025**[163](index=163&type=chunk) - The Company did not repurchase any of its equity securities during the quarter ended June 30, **2025**[164](index=164&type=chunk) [Item 3. Defaults Upon Senior Securities](index=44&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section reports that there were no defaults upon senior securities during the period - No defaults upon senior securities were reported[165](index=165&type=chunk) [Item 4. Mine Safety Disclosures](index=44&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section states that Mine Safety Disclosures are not applicable to the Company - Mine Safety Disclosures are not applicable to the Company[166](index=166&type=chunk) [Item 5. Other Information](index=45&type=section&id=Item%205.%20Other%20Information) This section provides information regarding Rule 10b5-1 trading plans - No directors or executive officers adopted, modified, or terminated any Rule **10b5-1** trading plans during the quarter ended June 30, **2025**[168](index=168&type=chunk) [Item 6. Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed as part of the Form 10-Q, including the new Credit Agreement, Pledge and Security Agreement, equity incentive plan amendments, and various certifications - Key exhibits include the Credit Agreement and Pledge and Security Agreement dated July 31, **2025**, related to the new term loan facility[169](index=169&type=chunk) - Other exhibits include amendments to the **2017** Employee, Director and Consultant Equity Incentive Plan and certifications by the CEO and CFO[169](index=169&type=chunk) [Signatures](index=46&type=section&id=Signatures) This section contains the required signatures of the Company's principal executive, financial, and accounting officers, certifying the filing of the report - The report is signed by Samraat S. Raha (President and CEO), Scott J. Leffler (CFO), and Natalie Munk (Chief Accounting Officer) on August 6, **2025**[174](index=174&type=chunk)

Core Insights - Myriad Genetics reported Q2 2025 earnings with revenue of $213.1 million, surpassing consensus estimates of $201.9 million, but faced a significant impairment charge of $316.7 million leading to a GAAP net loss [1][5][8] - The company experienced a modest return to revenue growth with a year-over-year increase of 1%, and adjusted EPS of $0.05 exceeded analyst expectations of $(0.01) [1][2][5] - The focus on the Cancer Care Continuum strategy emphasizes investment in oncology and next-generation diagnostic testing, with a strong emphasis on R&D and partnerships [4][3] Financial Performance - Revenue for Q2 2025 was $213.1 million, a 0.8% increase from Q2 2024's $211.5 million [2] - Adjusted operating income rose to $8.6 million, a 16.2% increase from Q2 2024 [2][5] - Gross margin improved to 71.2%, up 1.6 percentage points from 69.5% in Q2 2024 [2][5] Segment Performance - The Oncology segment generated $85.5 million in revenue, with hereditary cancer testing contributing $54.1 million, reflecting a 9% year-over-year volume increase [6] - Women's Health reported $89.8 million in revenue, with prenatal testing revenue rising 7% year-over-year to $47.6 million, despite an 8% decline in prenatal test volume due to workflow issues [7] - The Pharmacogenomics segment, including the GeneSight test, posted $37.8 million in revenue, a 12% decrease attributed to the loss of coverage from UnitedHealthcare [8][12] Operational Highlights - Total test volume was 384,000, showing a slight decline from the previous year, with increases in some areas offset by declines in tumor profiling and prenatal tests [9] - The company reported negative adjusted free cash flow of $(17.1) million, compared to a positive figure last year, and cash and equivalents at period end were $74.4 million [10][15] Strategic Focus - Myriad Genetics is prioritizing technological innovation, securing insurance reimbursement, and expanding market presence, particularly in oncology and women's health [4][3] - The company plans to launch new products, including MRD and AI-enabled prostate cancer tests, in 2026 [12] Outlook - Management raised full-year FY2025 revenue guidance to $818 million to $828 million, with gross margin expectations also increased [16] - Adjusted EPS guidance remains between $(0.02) and $0.02 for FY2025, reflecting the second quarter results and current business outlook [16]

Core Insights - Myriad Genetics reported revenue of $213.1 million for the quarter ended June 2025, marking a year-over-year increase of 0.8% and exceeding the Zacks Consensus Estimate of $201.9 million by 5.55% [1] - The company achieved an EPS of $0.05, which is consistent with the EPS from the same period last year, and delivered a significant EPS surprise of 600% compared to the consensus estimate of -$0.01 [1] Revenue Breakdown by Core Product - Prenatal revenue reached $47.6 million, slightly below the average estimate of $49.93 million, reflecting a year-over-year increase of 10.7% [4] - Hereditary Cancer revenue was $96.3 million, surpassing the average estimate of $88.37 million, with a year-over-year growth of 5.3% [4] - Pharmacogenomics revenue totaled $37.8 million, exceeding the average estimate of $32.08 million, but showing a year-over-year decline of 12.1% [4] - Tumor Profiling revenue was reported at $31.4 million, closely aligning with the average estimate of $31.31 million, and indicating a year-over-year decrease of 3.7% [4] Stock Performance - Myriad's shares have declined by 24.8% over the past month, contrasting with a 1% increase in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

Company Performance - Myriad Genetics reported quarterly earnings of $0.05 per share, exceeding the Zacks Consensus Estimate of a loss of $0.01 per share, representing an earnings surprise of +600.00% [1] - The company posted revenues of $213.1 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 5.55% and showing a slight increase from $211.5 million year-over-year [2] - Over the last four quarters, Myriad has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times as well [2] Stock Outlook - Myriad shares have declined approximately 71% since the beginning of the year, contrasting with the S&P 500's gain of 7.6% [3] - The current consensus EPS estimate for the upcoming quarter is $0.01 on revenues of $205.1 million, while for the current fiscal year, the estimate is -$0.01 on revenues of $811.68 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which Myriad belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Myriad's stock performance [5]