Company: MYGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000899923-25-000019
Chunk: 124

Company: MYRIAD GENETICS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 124
---
 2024 compared to the prior year primarily due to a decrease in compensation expense from a revised commission structure and a decrease in expense from sales events.  

General and Administrative Expense

Years ended December 31,(in millions)20242023Change% ChangeGeneral and administrative expense$275.9 $283.7 $(7.8)(3)%General and administrative expense as a % of total revenue32.9 %37.7 %

General and administrative expense decreased by $7.8 million for the year ended December 31, 2024 compared to the prior year primarily due to a $14.8 million decrease in expenses associated with our real estate optimization strategy, including a decrease in depreciation expense, facility costs, and expense associated with a lease termination in the prior year. These decreases were partially offset by a $5.3 million increase in compensation expense.

Legal Settlements

Years ended December 31,(in millions)20242023Change% ChangeLegal settlements$(21.3)$112.8 $(134.1)(119)%Legal settlements as a % of total revenue(2.5)%15.0 %

Legal settlements decreased by $134.1 million for the year ended December 31, 2024 compared to the prior year. In the prior year, we incurred $112.8 million for legal settlements, including $77.5 million related to the securities class action settlement and $34.0 million in connection with the Ravgen settlement. As part of the Ravgen settlement, we agreed to pay Ravgen $21.3 million if it successfully concluded in its favor all of Ravgen's litigations and patent reexaminations pending at the time of the settlement agreement. As of the effective date of the settlement in 2023, we determined that the contingent payment was probable and estimable. In the year ended December 31, 2024, based on updated information, we determined that the payment is no longer probable and reversed the expense related to the contingent payment.

67

Table of Contents

Goodwill and Long-lived Asset Impairment Charges

Years ended December 31,Change(in millions)20242023% ChangeGoodwill and long-lived asset impairment charges$56.8 $— $56.8 — %Goodwill and long-lived asset impairment charges as a % of total revenue6.8 %— %

Goodwill and long-lived asset impairment charges for the year ended December 31, 2024 included $43