Company: MYGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000899923-25-000086
Chunk: 91

Company: MYRIAD GENETICS INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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30.4 %

Cost of revenue for the three months ended June 30, 2025 decreased $3.1 million compared to the same period in the prior year primarily due to a reduction in the cost per test for the current period driven by reductions in the cost of laboratory reagents and supplies. 

Research and Development Expense

Three months ended June 30,(in millions)20252024Change% ChangeResearch and development expense$25.6 $27.1 $(1.5)(6)%Research and development expense as a % of total revenue12.0 %12.8 % 

Research and development expenses for the three months ended June 30, 2025 were relatively consistent with the expenses incurred in the same period of the prior year, reflecting stable operating activities across the business. We remain committed to disciplined cost management while maintaining investments in key strategic areas, such as research and development. 

Sales and Marketing Expense

Three months ended June 30,(in millions)20252024Change% ChangeSales and marketing expense$71.9 $72.8 $(0.9)(1)%Sales and marketing expense as a % of total revenue33.7 %34.4 %

Sales and marketing expenses for the three months ended June 30, 2025 were relatively consistent with the expenses incurred in the same period of 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, 202