Company: MYGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000899923-25-000086
Chunk: 48

Company: MYRIAD GENETICS INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 cash equivalents$74.4 $102.4 $(28.0)

The decrease in cash and cash equivalents as of June 30, 2025 as compared to December 31, 2024 was primarily driven by $29.9 million in cash used by operations, $15.2 million in cash used for capital expenditures including the capitalization of internal-use software, and $3.1 million in cash used for the payment of withholding tax for the issuance of common stock, net of proceeds from the issuance of common stock. The decrease in cash was partially offset by $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