Company: MYGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000899923-25-000086
Chunk: 95

Company: MYRIAD GENETICS INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 95
---
% ChangeGeneral and administrative expense$133.3 142.7 $(9.4)(7)%General and administrative expense as a % of total revenue32.6 %34.5 %

General and administrative expense decreased by $9.4 million for the six months ended June 30, 2025 compared to the prior year primarily due to a decrease of $4.1 million in consulting fees, a $3.4 million decrease in amortization for previously impaired intangible assets, and a $3.2 million decrease in compensation and benefits.

26

Goodwill and Long-lived Asset Impairment Charges

Six months ended June 30,(in millions)20252024Change% ChangeGoodwill and long-lived asset impairment charges$316.7 $11.6 $305.1 2630 %Goodwill and long-lived asset impairment charges as a % of total revenue77.4 %2.8 %

Goodwill and long-lived asset impairment charges in the six months ended June 30, 2025 included goodwill impairment charges of $234.7 million and intangible asset impairment charges of $82.0 million related to our Women's Health and Pharmacogenomics reporting units. For additional information regarding the testing and analysis performed, refer to "Critical Accounting Estimates" in this Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations." In the prior year, we recognized $11.6 million of losses in connection with the sale of the EndoPredict business.

Other Income (Expense), Net

Six months ended June 30,(in millions)20252024Change% ChangeOther income (expense), net$(1.8)$1.3 $(3.1)(238)%

Other income (expense), net changed for the six months ended June 30, 2025 as compared to the same period in the prior year due primarily due to an increase in interest expense for the current period and due to the $2.2 million gain recognized on the Precise Tumor acquisition in the prior period 

Income Tax Benefit

Six months ended June 30,(in millions)20252024Change% ChangeIncome tax benefit$(29.4)$(0.4)$(29.0)7250%Effective tax rate8.2 %0.6 %

Our tax rate is the product of a blended U.S. statutory federal income tax rate of 21.0% and a blended state income tax rate of approximately 3