1 Attributable to UNH discontinuation of coverage (commercial and managed Medicaid) of GeneSight and the divestiture of the European EndoPredict business.
2 The company does not forecast GAAP EPS because it cannot predict certain elements that are included in the reported GAAP results. Please see below under “Financial Guidance” for a full explanation.<\/p>\n
Strategy Update<\/strong><\/p>\n In the second quarter of 2025, Myriad Genetics initiated a review of its long-range growth strategy. While the updated strategy, which is designed to drive accelerated growth and profitability by focusing on the Cancer Care Continuum, will be completed over the next several months, the company has identified three strategic pillars:<\/p>\n Focus on the Cancer Care Continuum (“CCC”) to accelerate growth<\/strong>. Myriad Genetics will continue to leverage its leadership in Hereditary Cancer Testing while expanding its test portfolio in other attractive cancer segments potentially including therapy selection, immuno-oncology therapy response monitoring and Molecular Residual Disease (“MRD”) where it plans early access launch of the company\u2019s proprietary, ultra-sensitive MRD test in the first half of 2026. Myriad Genetics will increase its investment in R&D and enhance its commercial capabilities and customer digital experience to better serve the CCC market opportunity. Lastly, Myriad Genetics plans to leverage strategic partnerships and Biopharma service synergies in an effort to unlock new growth drivers.<\/p>\n<\/li>\n Grow revenue at or above market for Prenatal Health and Mental Health.<\/strong>\u00a0\u00a0 Myriad Genetics aims to grow Prenatal Health revenue by leveraging recently launched prenatal tests, including Prequel NIPS test that can be performed 8 weeks into pregnancy, and commercially launching FirstGene Multiple Prenatal Screen in 2026. It plans to grow Mental Health revenue by focusing on high value GeneSight accounts and leveraging state biomarker laws. Myriad Genetics expects to maintain a disciplined level of resourcing and investment in these businesses while prioritizing investments in the CCC strategic pillar.<\/p>\n<\/li>\n Focus on sustained profitable growth.<\/strong>\u00a0\u00a0 Myriad Genetics aims to grow revenue in the high single digit to low double digit range and increase profitability over the next five years by complementing the revenue growth drivers outlined in the first two strategic pillars with increasing focus on maintaining financial discipline, growing revenue faster than operating expenses, and strengthening its planning and execution capabilities. Myriad Genetics expects to fund near and longer term revenue growth in part by maintaining an industry leading gross margin profile, which is enabled by low costs per test leveraging operational excellence and by stable pricing leveraging strong revenue cycle capabilities.<\/p>\n<\/li>\n<\/ol>\n Financial and Operational Highlights<\/strong><\/p>\n Test volumes of 384,000 in the second quarter of 2025 decreased 1% year-over-year.<\/p>\n<\/li>\n The following table summarizes year-over-year testing volume changes in the company’s core product categories:<\/p>\n<\/li>\n<\/ul>\n \u00a0<\/p>\n<\/td>\n Three months ended June 30,<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n Six Months Ended June 30,<\/strong><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/p>\n<\/td>\n 2025<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 2024<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n % Change<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 2025<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 2024<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n % Change<\/strong><\/p>\n<\/td>\n<\/tr>\n Product volumes:<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n<\/tr>\n Hereditary cancer<\/p>\n<\/td>\n 78<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 73<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 7%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 151<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 144<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 5 %<\/p>\n<\/td>\n<\/tr>\n Tumor profiling(1)<\/p>\n<\/td>\n 12<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 14<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (14)%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 24<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 28<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (14)%<\/p>\n<\/td>\n<\/tr>\n Prenatal<\/p>\n<\/td>\n 159<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 173<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (8)%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 332<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 345<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (4)%<\/p>\n<\/td>\n<\/tr>\n Pharmacogenomics<\/p>\n<\/td>\n 135<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 129<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 5%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 262<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 253<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 4 %<\/p>\n<\/td>\n<\/tr>\n Total<\/p>\n<\/td>\n 384<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 389<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (1)%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 769<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 770<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u2014 %<\/p>\n<\/td>\n<\/tr>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n<\/tr>\n (1) Tumor Profiling decreased for the three and six months ended June 30, 2025 compared to the same period in the prior year due primarily to a decrease in testing volume for EndoPredict due to the sale of the company’s international EndoPredict business in August 2024.<\/p>\n<\/td>\n<\/tr>\n \u00a0<\/p>\n<\/td>\n Three months ended June 30,<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n Six Months Ended June 30,<\/strong><\/p>\n<\/td>\n<\/tr>\n (in millions)<\/p>\n<\/td>\n 2025<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 2024<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n % Change<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 2025<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 2024<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n % Change<\/strong><\/p>\n<\/td>\n<\/tr>\n Product revenues:<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n<\/tr>\n Hereditary cancer<\/p>\n<\/td>\n $<\/p>\n<\/td>\n 96.3<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n $<\/p>\n<\/td>\n 91.5<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 5%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n $<\/p>\n<\/td>\n 182.6<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n $<\/p>\n<\/td>\n 179.6<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 2 %<\/p>\n<\/td>\n<\/tr>\n Tumor profiling(1)<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 31.4<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 32.6<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (4)%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 60.7<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 63.5<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (4)%<\/p>\n<\/td>\n<\/tr>\n Prenatal<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 47.6<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 44.4<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 7%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 96.9<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 88.7<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 9 %<\/p>\n<\/td>\n<\/tr>\n Pharmacogenomics<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 37.8<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 43.0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (12)%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 68.8<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 81.9<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (16)%<\/p>\n<\/td>\n<\/tr>\n Total<\/p>\n<\/td>\n $<\/p>\n<\/td>\n 213.1<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n $<\/p>\n<\/td>\n 211.5<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n 1%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n $<\/p>\n<\/td>\n 409.0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n $<\/p>\n<\/td>\n 413.7<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n (1)%<\/p>\n<\/td>\n<\/tr>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n<\/tr>\n (1) Tumor Profiling decreased for the three and six months ended June 30, 2025 compared to the same period in the prior year due primarily to a decrease in testing volume for EndoPredict due to the sale of the company’s international EndoPredict business in August 2024.<\/p>\n<\/td>\n<\/tr>\n Operating expenses in the second quarter of 2025 were $481.0 million, increasing $297.4 million year-over-year, reflecting the impairment of goodwill and intangible assets of $316.7 million. Adjusted operating expenses in the second quarter of 2025 increased $3.0 million year-over-year to $143.8 million, reflecting the company’s commitment to disciplined cost management while maintaining investments in key strategic areas, such as research and development.<\/p>\n<\/li>\n Operating loss in the second quarter of 2025 was $329.2 million; adjusted operating income in the second quarter of 2025 was $8.6 million.<\/p>\n<\/li>\n<\/ul>\n Cash Flow and Liquidity<\/strong><\/p>\n Second quarter 2025 cash flow used in operations was $13.6 million; adjusted cash flow used in operations in the second quarter of 2025 was $10.2 million. Capital expenditures and capitalization of internal use software costs were $6.9 million in the second quarter 2025.<\/p>\n As of the end of the second quarter of 2025, the company had cash and cash equivalents of $74.4 million. On July 31, 2025, the company entered into a new $200 million term loan facility that replaced its current asset-based credit facility.<\/p>\n Business Performance and Highlights<\/strong><\/p>\n Oncology<\/strong><\/p>\n The Oncology business delivered revenue of $85.5 million in the second quarter of 2025.<\/p>\n Second quarter 2025 hereditary cancer testing revenue and volume in Oncology grew 9% and 10% year-over-year, respectively, as MyRisk with RiskScore testing volume in oncology grew 14% year-over-year.<\/p>\n<\/li>\n New clinical data regarding the use of Myriad’s ultra-sensitive Precise MRD test in the MONSTAR-SCREEN 3 study, a collaboration with the National Cancer Center Hospital East (NCCHE) in Japan, was presented at the American Society of Clinical Oncology (ASCO) annual meeting in May 2025. This study showed 100% sensitivity at baseline with 60% of patients testing positive one month after surgery had tumor fractions only detectable via ultra-sensitive MRD.<\/p>\n<\/li>\n Second quarter 2025 Prolaris test revenue grew 4% year-over-year as Myriad Genetics continues to educate clinicians on the critical role the company’s portfolio of offerings can play across the patient\u2019s prostate cancer journey. The company continues to make progress and intends to commercially launch its first AI-driven prostate cancer test, in partnership with PATHOMIQ, in the first quarter of 2026.<\/p>\n<\/li>\n<\/ul>\n Women\u2019s Health<\/strong><\/p>\n The Women\u2019s Health business delivered revenue of $89.8 million in the second quarter of 2025.<\/p>\n Second quarter 2025 hereditary cancer testing revenue and volume for the unaffected population increased 1% and 3% year-over-year, respectively, as the company continues to develop and deploy its electronic medical records (EMR) solutions and further expand its breast cancer risk assessment programs across its current and new provider base.<\/p>\n<\/li>\n Prenatal testing revenue in the second quarter of 2025 grew 7% year-over-year, reflecting ongoing expansion of payer coverage, particularly for Foresight Expanded Carrier Screen. Volume over that same period decreased 8% year-over-year due to friction from new order management system implementation.<\/p>\n<\/li>\n Commenced early access to our FirstGene\u2122 Multiple Prenatal Screen within the 5,000 patient, multi-site CONNECTOR study.<\/p>\n<\/li>\n<\/ul>\n Pharmacogenomics<\/strong><\/p>\n GeneSight test revenue was $37.8 million in the second quarter of 2025. GeneSight test volume in the second quarter of 2025 grew 5% year-over-year, reflecting a modest improvement over the year-over-year growth reported in the first quarter of 2025.<\/p>\n Second quarter revenue continues to reflect the impact of UnitedHealthcare’s decision to discontinue coverage of multi-gene panel pharmacogenetic testing, including GeneSight, effective in the first quarter of 2025.<\/p>\n<\/li>\n<\/ul>\n Financial Guidance<\/strong><\/p>\n Myriad Genetics does not provide forward-looking guidance in accordance with accounting principles generally accepted in the United States (GAAP) for the measures on which it provides forward-looking non-GAAP guidance as the company is unable to provide a quantitative reconciliation of forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measure, without unreasonable effort, because of the inherent difficulty in accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliations that have not yet occurred, are dependent on various factors, are out of the company’s control, or cannot be reasonably predicted. Such adjustments include, but are not limited to, real estate optimization and transformation initiatives, certain litigation charges and loss contingencies, costs related to acquisitions\/divestitures and the related amortization, impairment and related charges, depreciation, equity compensation, tax benefits, and other adjustments. For example, stock-based compensation may fluctuate based on the timing of employee stock transactions and unpredictable fluctuations in the company’s stock price. Any associated estimate of these items and its impact on GAAP performance could vary materially.<\/p>\n Below is a table updating Myriad Genetics’ full-year 2025 financial guidance*:<\/p>\n (in millions, except per share amounts)<\/p>\n<\/td>\n PRIOR 2025 Guidance<\/strong><\/p>\n<\/td>\n CURRENT 2025 Guidance<\/strong><\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n FY 2025 Comments<\/strong><\/p>\n<\/td>\n<\/tr>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n<\/tr>\n Revenue<\/p>\n<\/td>\n $807 – $823<\/p>\n<\/td>\n $818 – $828<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n Raised 2025 revenue range mid-point by $8 million reflecting second quarter 2025 results, an updated outlook and average revenue per test trends.<\/p>\n<\/td>\n<\/tr>\n Gross Margin %<\/p>\n<\/td>\n 68.5% – 69.5%<\/p>\n<\/td>\n 69.5% – 70.0%<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n Gross margins expected to fluctuate in any quarter given product mix and pricing trends.<\/p>\n<\/td>\n<\/tr>\n Adjusted Operating Expenses<\/p>\n<\/td>\n $555 – $565<\/p>\n<\/td>\n $562 – $568<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA**<\/p>\n<\/td>\n $19 – $27<\/p>\n<\/td>\n $27 – $33<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted EPS***<\/p>\n<\/td>\n $(0.02) – $0.02<\/p>\n<\/td>\n $(0.02) – $0.02<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n Adjusted EPS range reflects second quarter 2025 results, interest expense from the new credit facility, and the current business outlook.<\/p>\n<\/td>\n<\/tr>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n \u00a0<\/p>\n<\/td>\n<\/tr>\n *<\/p>\n<\/td>\n Assumes currency rates as of August\u00a05, 2025.<\/p>\n<\/td>\n<\/tr>\n **<\/p>\n<\/td>\n Adjusted EBITDA is defined as Net Income (loss) plus income tax expense (benefit), total other income (expense), non-cash operating expenses, such as amortization of intangible assets, depreciation, impairment of long-lived assets, and share-based compensation expense, and one-time expenses such as expenses from real estate optimization initiatives, transformation initiatives, legal settlements, and divestitures and acquisitions.<\/p>\n<\/td>\n<\/tr>\n ***<\/p>\n<\/td>\n Full-year 2025 adjusted EPS is based on a 94 million share count.<\/p>\n<\/td>\n<\/tr>\n These projections are forward-looking statements and are subject to the risks summarized in the safe harbor statement at the end of this press release.<\/p>\n Conference Call and Webcast<\/strong><\/p>\n A conference call will be held today, Tuesday, August 5, 2025, at 4:30 p.m. EDT to discuss Myriad Genetics\u2019 financial results and business developments for the second quarter 2025. A live webcast of the conference call can be accessed on Myriad Genetics’ Investor Relations website at investor.myriad.com. To participate in the live conference call via telephone, please register at https:\/\/register-conf.media-server.com\/register\/BI5d3b106c4f7645cb83634dfaa7524a7e<\/a>. Upon registering, a dial-in number and unique PIN will be provided to join the conference call. Following the conference call, an archived webcast of the call will be available at investor.myriad.com.<\/p>\n\n
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