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Jun 30, 2021
Myriad Genetics Q2 2021 Earnings Report
Delivered strong revenue and earnings growth, and continued to execute on strategic growth & transformation plans.
Key Takeaways
Myriad Genetics reported a strong second quarter with revenue growth of 103% year-over-year and earnings exceeding initial expectations. The company is focused on strategic transformation and growth plans, including divestitures and investments in technology and R&D.
Total revenue was $189.4 million, up 103% year-over-year and 9% sequentially.
Diagnostic test volumes increased 70% year-over-year and 8% sequentially, with a 2% sequential increase in average revenue per test.
Adjusted EPS was $0.12, a sequential improvement of $0.18.
Closed the sale of Myriad myPath and Myriad RBM businesses and expect to close the sale of the Myriad Autoimmune business in Q3 2021.
Revenue by Segment
Forward Guidance
Given the continued unpredictability surrounding the COVID-19 pandemic (and its variant strains) as well as the impact it continues to have on the healthcare environment, customer behavior and the ability to market tests to physicians, the company will not provide financial guidance for the third quarter ending September 30, 2021 or fiscal year 2021. In addition, the third quarter has historically been impacted by summer seasonality and may be impacted by the recent surge of the COVID -19 Delta variant.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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