Wed, May 7, 10:10 AM (9 days ago)
**Myriad Genetics, Inc. (MYGN) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $195.9 million, down 3.1% YoY due to declines in Pharmacogenomics and Hereditary Cancer segments, partially offset by growth in Prenatal. - **Gross Profit Margin:** 68.5%, slightly improved from 68.0% YoY. - **Operating Loss:** $29.0 million, slightly wider than $27.9 million YoY. - **Net Loss:** $0.1 million, significantly improved from $26.0 million YoY due to a $29.3 million income tax benefit. - **Cash Flow from Operations:** -$16.3 million, improved from -$18.6 million YoY. **Segment Performance:** - **Hereditary Cancer:** Revenue down 2.0% YoY due to a 5% decrease in average revenue per test, partially offset by a 3% increase in testing volume. - **Tumor Profiling:** Revenue down 5.2% YoY due to a decrease in testing volume for EndoPredict. - **Prenatal:** Revenue up 11.2% YoY due to an 11% increase in average revenue per test. - **Pharmacogenomics:** Revenue down 20.8% YoY due to a 22% decrease in average revenue per test, impacted by UnitedHealthcare's coverage decision. **Trends and Uncertainties:** - **Seasonality:** Q1 is typically weaker due to annual reset of patient deductibles and vacation schedules. - **Coverage Changes:** UnitedHealthcare's decision to no longer cover certain multi-gene panel pharmacogenetic tests, including GeneSight, negatively impacts revenue. - **Legal Proceedings:** Ongoing qui tam lawsuit and other legal actions could have material adverse effects on financial condition, results of operations, or cash flows. - **Market Risks:** Exposure to interest rates and foreign currency exchange risks, though not currently hedged. **Future Operations Impact:** - **Growth Strategy:** Focus on innovation, technology, and commercial execution to drive growth in Oncology, Women's Health, and Pharmacogenomics. - **Liquidity:** $91.8 million in cash and cash equivalents, with $41.9 million available under the ABL Facility. Expects to receive a $13 million tax refund in 2025. - **Capital Deployment:** Plans to invest in research and development, technology, and acquisitions to support business strategy.