Core Insights - Myriad Genetics reported solid second-quarter results, driven by strong hereditary cancer testing in oncology and favorable pricing trends, while also updating its financial guidance for the full year 2025 [2][3] Financial Performance - Second quarter 2025 revenue was $213.1 million, a 1% increase year-over-year, with a 5% increase when excluding headwinds of $9.5 million [5] - Hereditary cancer testing revenue and volume in oncology grew by 9% and 10% year-over-year, respectively, with MyRisk with RiskScore testing volume in oncology increasing by 14% [5][17] - Gross margin for the second quarter 2025 was 71.2%, up over 160 basis points year-over-year, benefiting from product mix and improved laboratory efficiencies [5] - The company reported a GAAP net loss of $330.5 million, or $(3.57) per share, primarily due to non-cash impairment charges of $316.7 million [5][11] - Adjusted EPS for the second quarter 2025 was $0.05 [5] Strategic Update - Myriad Genetics is focusing on the Cancer Care Continuum (CCC) to accelerate growth, with plans to expand its test portfolio into therapy selection and immuno-oncology therapy response monitoring [6] - The company aims to grow revenue in Prenatal Health and Mental Health while maintaining disciplined investment in these areas [7] - Myriad Genetics expects to achieve high single-digit to low double-digit revenue growth and increased profitability over the next five years [7] Business Unit Performance - The Oncology business generated revenue of $85.5 million in the second quarter of 2025 [13] - The Women's Health business reported revenue of $89.8 million in the same period [14] - GeneSight test revenue was $37.8 million, with a 5% year-over-year growth in test volume, despite the impact of UnitedHealthcare's decision to discontinue coverage [15] Financial Guidance - The company raised its 2025 revenue guidance to a range of $818 - $828 million, up from $807 - $823 million, reflecting improved business outlook [19] - Adjusted operating expenses for 2025 are projected to be between $562 - $568 million [19] - Adjusted EBITDA guidance was increased to a range of $27 - $33 million [19]