Company: MYGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000899923-25-000086
Chunk: 28

Company: MYRIAD GENETICS INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 0.7 0.2 Plan compensation expense$0.3 $0.5 $0.8 $1.0 Stock-Based Compensation ExpenseStock-based compensation expense recognized and included in the Condensed Consolidated Statements of Operations and Comprehensive Loss was allocated as follows:Three months endedJune 30,Six months endedJune 30,(in millions)2025202420252024Cost of revenue$0.3 $0.4 $0.6 $0.7 Research and development expense2.0 1.6 4.1 2.8 Sales and marketing expense2.0 2.6 3.5 4.5 General and administrative expense6.4 9.9 12.0 18.5 Total stock-based compensation expense$10.7 $14.5 $20.2 $26.5 

As of June 30, 2025, there was $66.2 million of total unrecognized stock-based compensation expense related to RSUs that is expected to be recognized over a weighted-average period of 2.1 years. The Company recognizes forfeitures as they occur. In the event that a PSU is determined to be improbable of vesting, the Company records an adjustment to reverse all previously recognized expense associated with the equity award in the current period. 

10.INCOME TAXES

In order to determine the Company’s quarterly provision for income taxes, the Company used an estimated annual effective tax rate that is based on expected annual income and statutory tax rates in the various jurisdictions in which the Company operates. Certain significant or unusual items are separately recognized in the quarter during which they occur and can be a source of variability in the effective tax rate from quarter to quarter.For the three months ended June 30, 2025, the income tax benefit was $0.1 million, or approximately 0.0% of pre-tax loss, compared to $0.5 million income tax benefit, or approximately 1.3% of pre-tax loss, for the three months ended June 30, 2024. For the six months ended June 30, 2025, the income tax benefit was $29.4 million, or approximately 8.2% of pre-tax loss, compared to an income tax benefit of $0.4 million, or approximately 0.6% of pre-tax loss, for the six months ended June 30, 2024.