Company: MYGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000899923-25-000019
Chunk: 128

Company: MYRIAD GENETICS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 128
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 Ended December 31,(in millions)20242023ChangeCash flows used in operating activities$(8.7)$(110.9)$102.2 Cash flows provided by (used in) investing activities(11.9)31.9 (43.8)Cash flows provided by (used in) financing activities(7.4)152.9 (160.3)Effect of foreign exchange rates on cash, cash equivalents, and restricted cash(1.0)0.6 (1.6)Net increase (decrease) in cash, cash equivalents, and restricted cash(29.0)74.5 (103.5)Cash, cash equivalents, and restricted cash at the beginning of the period140.9 66.4 74.5 Cash, cash equivalents, and restricted cash at the end of the period$111.9 $140.9 $(29.0)

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Table of Contents

Cash Flows from Operating Activities

We used $102.2 million less of cash for operating activities for the twelve months ended December 31, 2024 compared to the prior year. Cash used for operating activities for the year ended December 31, 2023 included $82.8 million of payments for legal settlements. In addition, our  core operations have improved in the current year driven by an 11% increase in revenue and a 7% decrease in expenses as a percentage of revenue, excluding non-cash expenses for goodwill and long-lived asset impairment charges and accrued legal settlements. In the year ended December 31, 2023, we received $16.3 million in tenant improvement allowance reimbursements that did not reoccur for the year ended December 31, 2024.

Cash Flows from Investing Activities

The increase in cash flows used in investing activities for the twelve months ended December 31, 2024 compared to the cash flows provided by investing activities in the same period in the prior year was primarily due to the $96.2 million decrease in cash flows from maturities and sales of marketable investment securities compared to the prior year, partially offset by a $44.2 million decrease in capital expenditures in the current period in connection with the completion of the build-out of new facilities in the prior year and the $8.8 million received from the sale of our EndoPredict business in 2024.  

Cash Flows from Financing Activities

The increase in cash flows used in financing activities