Company: MYGN
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000899923-25-000112
Chunk: 45

Company: MYRIAD GENETICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 2024, there was $0.9 million income tax expense and our effective tax rate was (4.2)%. For the three months ended September 30, 2025 and 2024, our effective tax rate differs from the U.S. federal statutory rate primarily due to the recognition of valuation allowances. 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. 

Results of Operations for the Nine Months Ended September 30, 2025 and 2024 

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

Revenue

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

Nine months ended September 30,% of Total Revenue(in millions)20252024Change20252024Hereditary Cancer$275.6 $270.1 $5.5 45%43%Tumor Profiling90.2 95.1 (4.9)15%15%Prenatal141.4 132.2 9.2 23%21%Pharmacogenomics107.5 129.6 (22.1)17%21%Total revenue$614.7 $627.0 $(12.3)100%100%

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

Nine months ended September 30,(in thousands)20252024% ChangeVolume:Hereditary Cancer233 219 6%Tumor Profiling36 41 (12)%Prenatal487 506 (4)%Pharmacogenomics399 380 5%Total1,155 1,146 1%

Revenue decreased $12.3 million for the nine months ended September 30, 2025 compared to the same period in the prior year. For the nine months ended September 30, 2024, we recognized $20.3 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 our prenatal products. For the nine months ended September 30, 2025, revenue for tests in which the performance obligation was met in a prior period was immaterial. This decrease in revenue was partially offset by increased revenue resulting from