Company: MYGN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000899923-25-000048
Chunk: 76

Company: MYRIAD GENETICS INC
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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 months ended March 31, 2025 compared to the same period in the prior year due primarily to a 22% decrease in the average revenue per test. Pharmacogenomics revenue for the three months ended March 31, 2025 has been negatively impacted by UnitedHealthcare’s recent change in coverage of the GeneSight test under its commercial, individual exchange benefit, and certain managed Medicaid plans.  We expect this coverage decision will continue to negatively affect revenue in future periods. Hereditary Cancer revenue decreased $1.8 million for the three months ended March 31, 2025 compared to the same period in the prior year due to a 5% decrease in average revenue per test, partially offset by a 3% increase in testing volume. Tumor Profiling revenue decreased $1.6 million for the three months ended March 31, 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 our EndoPredict business in August 2024. These decreases were partially offset by an increase in revenue from Prenatal. 

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Table of Contents

Prenatal revenue increased $5.0 million for the three months ended March 31, 2025 compared to the same period in the prior year due to an 11% increase in average revenue per test.  

Cost of Revenue

Three months ended March 31,(in millions)20252024Change% ChangeCost of revenue$61.7 $64.6 $(2.9)(4)%Cost of revenue as a % of total revenue31.5 %31.9 %

Cost of revenue for the three months ended March 31, 2025 decreased $2.9 million compared to the same period in the prior year primarily due to a reduction in the cost per test for the current period. 

Operating Expenses

Three months ended March 31,(in millions)20252024Change% ChangeResearch and development expense$27.5 $24.9 $2.6 10 %Sales and marketing expense69.2 69.4 (0.2)— %General and administrative expense66.5 71.2 (4.7)(7)%Total operating expenses$163.2 $165.5 $(2.3)(1)%Research and development expense as a % of total revenue14.0 %12.3 %Sales and marketing expense