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Dec 31, 2024
Myriad Genetics Q4 2024 Earnings Report
Estimated Revenue:$215M
+10.1% YoY
Estimated EPS:$0.0299
+137.1% YoY
Key Takeaways
Myriad Genetics reported a 7% year-over-year increase in Q4 2024 revenue, driven by growth in Pharmacogenomics and Prenatal testing. The company's GAAP gross margin improved, and while a GAAP net loss was reported, adjusted EBITDA remained positive. They also reiterated their 2025 financial guidance and entered into a strategic collaboration with PATHOMIQ.
Fourth quarter revenue grew 7% year-over-year to $211 million, driven by Pharmacogenomics (14%) and Prenatal (12%) testing.
GAAP gross margin increased 300 basis points year-over-year to 71.7% due to improving revenue per test and greater laboratory efficiencies.
GAAP net loss for the fourth quarter was $(43) million, with adjusted EBITDA at $11 million.
The company has appointed Sam Raha as President and CEO, effective April 30, 2025.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Myriad Genetics expects full-year 2025 revenue to be in the range of $840 - $860 million and adjusted EPS to be in the range of $0.07 - $0.11.
Positive Outlook
- 2025 revenue range reflects annual growth of between 9% - 11% over 2024, excluding impact from the change in UNH PGx medical policy and divested businesses.
- Gross margins expected to fluctuate in any quarter given product mix and pricing trends.
Challenges Ahead
- Q1’25 revenue is expected to be between $196 and $204 million.
- UNH updated its medical policy for commercial and individual exchange benefit plans as well as certain managed Medicaid plans to discontinue coverage of multi-gene panel pharmacogenetic testing, including the company's GeneSight test, effective in the first half of 2025.
- Q1’25 adjusted EPS is expected to be between $(0.04) and $(0.08)
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