Company: MYGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000899923-25-000019
Chunk: 122

Company: MYRIAD GENETICS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 122
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it) consists of current and deferred components, which include changes in our deferred tax assets, our deferred tax liabilities, and our valuation allowance. 

65

Table of Contents

Results of Operations

Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023

Revenue

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

Years ended December 31,% of Total Revenue(in millions)20242023Change% Change20242023Hereditary Cancer$364.5 $327.8 $36.7 11 %44%44%Tumor Profiling125.8 135.6 (9.8)(7)%15%18%Prenatal177.1 151.3 25.8 17 %21%20%Pharmacogenomics170.2 138.5 31.7 23 %20%18%Total revenue$837.6 $753.2 $84.4 11 %100%100%

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

Years ended December 31,(in thousands)20242023% ChangeProduct volumes:Hereditary Cancer294 281 5%Tumor Profiling53 59 (10)%Prenatal666 625 7%Pharmacogenomics507 459 10%Total1,520 1,424 7%

Revenue for the year ended December 31, 2024 increased $84.4 million compared to the prior year due to an increase in the average revenue per test primarily due to changes in contracted price and operational improvements as well as an increase in testing volume across the majority of our products. Additionally, for the year ended December 31, 2024, we recorded $18.5 million of revenue as a change of estimate related to tests delivered in prior periods as compared to the year ended December 31, 2023, in which we recorded $7.2 million in revenue as a change of estimate related to tests delivered in prior periods. Additionally, for the year ended December 31, 2024, we recognized $3.0 million in revenue due to a retroactive coverage change by a payor for one of our prenatal products. 

Hereditary Cancer revenues increased $36.7 million due to a 6% increase in the average revenue per test and a 5% increase in testing volume. Pharmacogenomics revenue increased $31.7 million