Myriad Genetics Reports Fourth Quarter and Full-Year 2024 Financial Results; Full-year 2024 revenue of $838 million grew 11% year-over-year, the second consecutive year of double-digit revenue growth

Core Insights - Myriad Genetics reported a revenue growth of 11% in 2024 compared to 2023, marking the second consecutive year of double-digit growth, with an adjusted EBITDA of $40 million [3][7] - The company reaffirmed its financial guidance for 2025, projecting revenue between$840 million and $860 million, which reflects a growth of 9$211 million, a 7% increase year-over-year, driven by strong demand in Pharmacogenomics (14% growth) and Prenatal testing (12% growth) [7][12] - Test volumes reached 374,000 in Q4 2024, representing a 4% increase year-over-year [6] - The GAAP gross margin for Q4 2024 was 71.7%, up 300 basis points from the previous year, attributed to improved revenue per test and greater laboratory efficiencies [7] Business Performance by Segment - The Oncology segment generated $82.8 million in revenue during Q4 2024, with hereditary cancer testing revenue growing by 8$87.2 million in Q4 2024 [12] - In Pharmacogenomics, GeneSight test revenue was $40.6 million in Q4 2024 [13] Strategic Initiatives - Myriad Genetics entered a strategic collaboration with PATHOMIQ to integrate AI technology into its Oncology portfolio, enhancing its prostate cancer offerings [7][10] - The company announced a five-year strategic alliance with The University of Texas MD Anderson Cancer Center to accelerate the clinical evaluation of its molecular residual disease (MRD) assay [16] Cash Flow and Liquidity - As of December 31, 2024, Myriad had cash and cash equivalents of$102 million, with total liquidity of approximately $158 million [14][14] Future Outlook - The company is optimistic about 2025, anticipating contributions from recent product launches, including Prequel with 8-week Gestational Age and Precise Tumor [4][18] - Myriad plans to commercially launch its first AI-driven prostate cancer test later in 2025, which will complement its existing offerings [10][11]