Company: MYGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000899923-25-000086
Chunk: 118

Company: MYRIAD GENETICS INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 118
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 and can be a source of variability in the effective tax rates from period to period.

For the three months ended June 30, 2025, there was $0.1 million income tax benefit and our effective tax rate was 0.0%. For the three months ended June 30, 2024, there was $0.5 million income tax benefit and our effective tax rate was 1.3%. For the three months ended June 30, 2025 and 2024, our effective tax rate differs from the U.S. federal statutory rate primarily due to the recognition of valuation allowances and uncertain tax positions. Due to our cumulative loss and the exhaustion of future taxable income from the reversal of taxable temporary differences, our estimated annual effective tax rate for the current year period includes a valuation allowance against the majority of the current year increase in deferred tax assets, including any tax-deductible loss from the $316.7 million of goodwill and long-lived impairment charges recorded during the three months ended June 30, 2025. 

Results of Operations for the Six Months Ended June 30, 2025 and 2024 

The results of operations for the six months ended June 30, 2025 and 2024 are discussed below.  

Revenue

The following table summarizes revenue changes in our core product categories:

Six months ended June 30,% of Total Revenue(in millions)20252024Change20252024Hereditary Cancer$182.6 $179.6 $3.0 44%44%Tumor Profiling60.7 63.5 (2.8)15%15%Prenatal96.9 88.7 8.2 24%21%Pharmacogenomics68.8 81.9 (13.1)17%20%Total revenue$409.0 $413.7 $(4.7)100%100%

The following table summarizes volume changes in our core product categories:

Six months ended June 30,(in thousands)20252024% ChangeVolume:Hereditary Cancer151 144 5%Tumor Profiling24 28 (14)%Prenatal332 345 (4)%Pharmacogenomics262 253 4%Total769 770 —%

25

Revenue decreased $4.7 million for the six months ended June 30, 2025 compared to the same period in the prior year. For the six months ended June 30,