Company: MYGN
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000899923-25-000112
Chunk: 43

Company: MYRIAD GENETICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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11 %Tumor Profiling12 13 (8)%Prenatal155 162 (4)%Pharmacogenomics137 127 8 %Total386 376 3 %

Revenues decreased $7.6 million for the three months ended September 30, 2025 compared to the same period in the prior year primarily due to $8.6 million of revenue recognized during the three months ended September 30, 2024 for tests in which the performance obligation was met in a prior period. For the three months ended September 30, 2025, revenue for tests in which the performance obligation was met in a prior period was immaterial. 

Pharmacogenomics revenues decreased $9.0 million for the three months ended September 30, 2025 compared to the same period in the prior year due to a 25% year-over-year decrease in average revenue per test, due to revenue recognized for the three months ended September 30, 2024 for tests in which the performance obligation was met in a prior period and UnitedHealthcare's change in GeneSight test coverage under its commercial, individual exchange, and certain managed Medicaid benefit plans. We expect this coverage decision will continue to negatively affect Pharmacogenomics revenue in future periods. 

23

Cost of Revenue

Three months ended September 30,(in millions)20252024Change% ChangeCost of revenue$61.9 $63.5 $(1.6)(3)%Cost of revenue as a % of total revenue30.1 %29.8 %

Cost of revenue for the three months ended September 30, 2025 decreased $1.6 million compared to the same period in the prior year primarily due to a reduction in the cost per test for the current period driven by reductions in the cost of laboratory reagents and supplies. 

Operating Expenses

Three months ended September 30,(in millions)20252024Change% ChangeResearch and development expense$28.2 $28.5 $(0.3)(1)%Sales and marketing expense$71.0 $69.9 $1.1 2 %General and administrative expense$67.9 $69.2 $(1.3)(2)%Total operating expenses$167.1 $167.6 $(0.5)— %Research and development expense as a % of total revenue13.7 %13.4 %Sales and marketing expense