Company: MYGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000899923-25-000086
Chunk: 117

Company: MYRIAD GENETICS INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 117
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 the prior year, reflecting stable operating activities across the business. 

General and Administrative Expense

Three months ended June 30,(in millions)20252024Change% ChangeGeneral and administrative expense$66.8 $72.1 $(5.3)(7)%General and administrative expense as a % of total revenue31.3 %34.1 %

General and administrative expense decreased by $5.3 million for the three months ended June 30, 2025 compared to the prior year primarily due to a decrease in consulting fees, a decrease in amortization for previously impaired intangible assets, and compensation expenses.  

Goodwill and Long-lived Asset Impairment Charges

Three months ended June 30,Change(in millions)20252024% ChangeGoodwill and long-lived asset impairment charges$316.7 $11.6 $305.1 2,630 %Goodwill and long-lived asset impairment charges as a % of total revenue148.6 %5.5 %

Goodwill and long-lived asset impairment charges of $316.7 million in the three months ended June 30, 2025 consisted of goodwill impairment charges of $234.7 million and intangible asset impairment charges of $82.0 million related to our Women's Health and Pharmacogenomics reporting units. For additional information regarding the testing and analysis performed, refer to "Critical Accounting Estimates" below. In the prior year, we recognized $11.6 million of losses in connection with the sale of the EndoPredict business.

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Other Income (Expense), Net

Three months ended June 30,(in millions)20252024Change% ChangeOther income (expense), net$(1.4)$(0.7)$(0.7)100.0 %

Other income (expense), net for the three months ended June 30, 2025 decreased $0.7 million as compared to the same period in the prior year due to an increase in interest expense.    

Income Tax Benefit

Three months ended June 30,(in millions)20252024Change% ChangeIncome tax benefit$(0.1)$(0.5)$0.4(80.0)%Effective tax rate— %1.3 % 

Our tax rate is the product of a U.S. federal effective rate of 21.0% and a blended state income tax rate of approximately 3.4%. Certain significant or unusual items are separately recognized during the period in which they occur