Company: MYGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000899923-25-000086
Chunk: 125

Company: MYRIAD GENETICS INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 125
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19.5 million increase in net borrowings under the ABL Facility.   

The following table represents the Condensed Consolidated Cash Flow Statement:

Six Months Ended June 30,(in millions)20252024ChangeCash flows used in operating activities$(29.9)$(16.0)$(13.9)Cash flows used in investing activities(15.2)(13.5)(1.7)Cash flows provided by (used in) financing activities16.2 (6.4)22.6 Effect of foreign exchange rates on cash, cash equivalents, and restricted cash0.7 (1.5)2.2 Change in cash and cash equivalents classified as held for sale— (2.3)2.3 Net decrease in cash, cash equivalents, and restricted cash(28.2)(39.7)9.2 Cash, cash equivalents, and restricted cash at the beginning of the period111.9 140.9 (29.0)Cash, cash equivalents, and restricted cash at the end of the period$83.7 $101.2 $(17.5)

Cash Flows from Operating Activities

We used $13.9 million more cash for operating activities for the six months ended June 30, 2025 compared to the same period in the prior year. The increase in cash used for operating activities was primarily driven by a $10.9 million decrease in cash collected from accounts receivables driven by timing differences in collections.  

Cash Flows from Investing Activities

Cash flows used in investing activities for the six months ended June 30, 2025 were relatively consistent with the same period of the prior year, reflecting stable investing activities across the business.

Cash Flows from Financing Activities

Cash flows from financing activities increased $22.6 million for the six months ended June 30, 2025 compared to cash flows used in financing activities in the same period in the prior year, primarily due to the incremental borrowing of $19.5 million from the ABL Facility.

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Effects of Inflation

While inflation returned to more moderate levels in 2024 and 2025, inflation has had, and may continue to have, an impact on the labor costs we incur to attract and retain qualified personnel, costs to generate sales and produce testing results, and costs of laboratory supplies. If inflation were to increase, it may negatively impact our profitability and may adversely affect our business, financial condition and results of operations. In addition