$MYGN

MYRIAD GENETICS INC

CIK:0000899923|SEC Filings

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 190.7	$ 213.1	$ 391.1	$ 409.0
Cost of revenue	63.7	61.3	126.5	123.0
Gross profit	127.0	151.8	264.6	286.0
Costs and expenses:
Research and development expense	25.0	25.6	52.1	53.1
Sales and marketing expense	83.1	71.9	156.7	141.1
General and administrative expense	57.8	66.8	120.0	133.3
Goodwill and long-lived asset impairment charges	0.0	316.7	5.4	316.7
Total operating expenses	165.9	481.0	334.2	644.2
Operating loss	(38.9)	(329.2)	(69.6)	(358.2)
Other income (expense):
Interest income	0.4	0.2	1.1	0.5
Interest expense	(4.1)	(1.5)	(8.2)	(2.3)
Other	0.0	(0.1)	0.0	0.0
Total other expense, net	(3.7)	(1.4)	(7.1)	(1.8)
Loss before income tax	(42.6)	(330.6)	(76.7)	(360.0)
Income tax expense (benefit)	0.6	(0.1)	0.6	(29.4)
Net loss	$ (43.2)	$ (330.5)	$ (77.3)	$ (330.6)
Net loss per share:
Basic (dollars per share)	$ (0.46)	$ (3.57)	$ (0.82)	$ (3.59)
Diluted (dollars per share)	$ (0.46)	$ (3.57)	$ (0.82)	$ (3.59)
Weighted average shares outstanding:
Basic (shares)	94.8	92.5	94.2	92.0
Diluted (shares)	94.8	92.5	94.2	92.0

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (77.3)	$ (330.6)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	25.0	28.5
Non-cash lease expense	2.1	5.6
Stock-based compensation expense	13.7	20.2
Unrecognized tax benefits	0.0	(31.5)
Impairment of goodwill and long-lived assets	5.4	316.7
Other non-cash adjustments	1.9	0.3
Changes in assets and liabilities:
Prepaid expenses and other current assets	(6.9)	0.3
Trade accounts receivable	5.7	(15.4)
Prepaid taxes	10.2	2.1
Other assets	(0.3)	(0.5)
Accounts payable	2.9	3.6
Accrued liabilities	(6.4)	(29.2)
Net cash used in operating activities	(24.0)	(29.9)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(7.5)	(8.1)
Capitalization of intangible assets	(2.2)	(7.1)
Net cash used in investing activities	(9.7)	(15.2)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from common stock issued under stock-based compensation plans	2.8	2.7
Payment of tax withheld for common stock issued under stock-based compensation plans	(3.3)	(5.8)
Proceeds from revolving credit facility	0.0	40.0
Repayment of revolving credit facility	0.0	(20.5)
Payment on finance leases	(0.3)	(0.2)
Net cash (used in) provided by financing activities	(0.8)	16.2
Effect of foreign exchange rates on cash, cash equivalents, and restricted cash	0.0	0.7
Net decrease in cash, cash equivalents, and restricted cash	(34.5)	(28.2)
Cash, cash equivalents, and restricted cash at beginning of the period	151.3	111.9
Cash, cash equivalents, and restricted cash at end of the period	$ 116.8	$ 83.7

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 115.2	$ 149.6
Trade accounts receivable	109.5	115.3
Inventory	30.6	30.6
Prepaid taxes	1.8	12.0
Prepaid expenses and other current assets	31.9	25.1
Total current assets	289.0	332.6
Operating lease right-of-use assets	50.0	49.4
Property, plant and equipment, net	108.9	114.0
Intangible assets, net	139.0	153.4
Goodwill	47.1	51.6
Other assets	4.9	5.6
Total assets	638.9	706.6
Current liabilities:
Accounts payable	30.4	30.0
Accrued liabilities	93.0	96.9
Current maturities of operating lease liabilities	7.3	6.9
Total current liabilities	130.7	133.8
Long-term debt	120.7	119.9
Noncurrent operating lease liabilities	82.5	83.0
Other long-term liabilities	1.1	1.9
Total liabilities	335.0	338.6
Commitments and contingencies
Stockholders’ equity:
Common stock, 95.6 and 93.5 shares outstanding at June 30, 2026 and December 31, 2025, respectively	1.0	0.9
Additional paid-in capital	1,502.1	1,489.0
Accumulated other comprehensive income	0.8	0.8
Accumulated deficit	(1,200.0)	(1,122.7)
Total stockholders' equity	303.9	368.0
Total liabilities and stockholders’ equity	$ 638.9	$ 706.6