Company: MYGN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000899923-25-000048
Chunk: 39

Company: MYRIAD GENETICS INC
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 categories:

Three months ended March 31,% of Total Revenue(in millions)20252024Change20252024Hereditary Cancer$86.3 $88.1 $(1.8)44%44%Tumor Profiling29.3 30.9 (1.6)15%15%Prenatal49.3 44.3 5.0 25%22%Pharmacogenomics31.0 38.9 (7.9)16%19%Total revenue$195.9 $202.2 $(6.3)100%100%

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

Three months ended March 31,(in thousands)20252024% ChangeProduct volumes:Hereditary Cancer73 71 3%Tumor Profiling12 14 (14)%Prenatal173 172 1%Pharmacogenomics127 124 2%Total385 381 1%

Revenue decreased $6.3 million for the three months ended March 31, 2025 compared to the same period in the prior year. For the three months ended March 31, 2024, the Company recognized $7.0 million of revenue for tests in which the performance obligation was met in a prior period, including $3.0 million in revenue due to a retroactive coverage change by a payor for one of its prenatal products. For the three months ended March 31, 2025, revenue for tests in which the performance obligation was met in a prior period was immaterial. 

Pharmacogenomics revenue decreased $7.9 million for the three 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