Myriad Genetics reports Q1 2025 revenue of $196 million, down 3% YoY, with varied performance across product lines.
Updated 2025 financial guidance with revenue in a range of $807 - $823 million and adjusted EPS range of $(0.02) - $0.02, reflecting first quarter 2025 results and the current business outlook.
Myriad Genetics, Inc. reported a 3% decline in first-quarter 2025 revenue, totaling $196 million, although revenue increased by 5% when excluding certain headwinds. Prenatal testing revenue grew by 11% year-over-year, while Pharmacogenomics revenue fell by 20% due to reduced coverage for GeneSight by UnitedHealthcare. The company's gross margin rose to 69%, benefiting from improved lab efficiencies. Myriad posted a GAAP net loss of $0.1 million, aided by a tax benefit of $29 million, while adjusted EPS was $(0.03). Following the quarter's results, the company adjusted its 2025 revenue guidance downward to a range of $807 - $823 million, reflecting challenges in its pharmacogenomics business and hereditary cancer testing. The leadership is focused on strategies to enhance execution and prioritize new product development despite current operational challenges.
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