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Mar 31, 2024
Myriad Genetics Q1 2024 Earnings Report
Reported strong financial results with revenue growth and improved profitability.
Key Takeaways
Myriad Genetics reported a strong first quarter in 2024, achieving a 12% year-over-year revenue growth, driven by growth in Prenatal, Pharmacogenomics, and Hereditary Cancer segments. The company significantly improved its net loss and generated positive adjusted EBITDA.
Revenue grew 12% year-over-year to $202 million, driven by Prenatal, Pharmacogenomics, and Hereditary Cancer segments.
GAAP net loss improved significantly to $26 million, with positive adjusted EBITDA of $4 million.
GAAP EPS improved significantly to $(0.29) and adjusted EPS improved to $(0.01).
Announced the reorganization of its European operations and sale of its EndoPredict business, while retaining U.S. EndoPredict licensing rights.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Myriad Genetics reiterates its fiscal year 2024 financial guidance issued on February 27, 2024.
Positive Outlook
- Revenue: $820 - $840 million (9% - 11% year-over-year change)
- Gross margin: 69.5% - 70.5% (50 - 150 bps year-over-year change)
- Adjusted OPEX: $572 - $582 million (5% - 7% year-over-year change)
- Adjusted EBITDA: $20 - $30 million ($31 - $41 year-over-year change)
- Adjusted EPS: $0.00 - $0.05 ($0.27 - $0.32 year-over-year change)
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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