Company: MYGN
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000899923-25-000112
Chunk: 121

Company: MYRIAD GENETICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 121
---
3.4 million in consulting fees.  

26

Goodwill and Long-lived Asset Impairment Charges

Nine months ended September 30,(in millions)20252024Change% ChangeGoodwill and long-lived asset impairment charges$316.7 $13.8 $302.9 2195 %Goodwill and long-lived asset impairment charges as a % of total revenue51.5 %2.2 %

Goodwill and long-lived asset impairment charges in the nine months ended September 30, 2025 included 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. In the prior year, we recognized $13.8 million of losses in connection with the sale of the EndoPredict business.

Other Income (Expense), Net

Nine months ended September 30,(in millions)20252024Change% ChangeOther income (expense), net$(4.7)$0.1 $(4.8)(4800)%

Other income (expense), net for the nine months ended September 30, 2025 increased $4.8 million as compared to the same period in the prior year primarily due to an increase in interest expense for the current period related to our new $125 million term loan secured in July 2025.  

Income Tax (Benefit) Expense

Nine months ended September 30,(in millions)20252024Change% ChangeIncome tax (benefit) expense$(28.2)$0.4 $(28.6)(7150)%Effective tax rate7.3 %(0.5)%

Our tax rate is the product of a blended U.S. statutory federal income tax 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 and can be a source of variability in the effective tax rates from period to period. 

Income tax benefit for the nine months ended September 30, 2025 was $28.2 million and our effective tax rate was 7.3%. Income tax expense for the nine months ended September 30, 2024 was $0.4 million and our effective tax rate was (0.5)%.  For the nine months ended September 30, 2025 and 2024, our recognized effective tax rate differs from the U.S. federal statutory rate primarily due