Myriad Genetics Q3 revenue $156.4M, GAAP EPS $(0.43); cuts FY22 guidance; acquires Gateway Genomics for $67.5M

MYRIAD GENETICS INC

2022-Q3 EPS reported -$0.87 revenue$500,600,000

Revenue $156.4M (-2% YoY); GAAP EPS $(0.43), adjusted EPS $(0.19).
GeneSight volumes +34% YoY; hereditary cancer volumes +4% YoY; total testing volumes +12% ex-divestitures.
Acquired Gateway Genomics for $67.5M cash plus up to $32.5M earnout; Gateway expected to be accretive in 2024.
FY2022 revenue guidance cut to $668-672M (prev. $670-700M); adjusted EPS guided to $(0.35)-$(0.30).
Quarter-end cash $259.2M, no debt; operating cash flow -$2M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MYRIAD GENETICS INC reported the three months ended September 30, 2022 results: revenue $156.4 million, EPS $(0.43).

Period: the three months ended September 30, 2022
Revenue: $156.4 million
EPS: $(0.43)
Result: reported results

Exact text from the filing

Myriad Genetics Reports Third Quarter Financial Results Highlights: • Revenue of $156.4 million for the quarter ended September 30, 2022. ▪ Third quarter revenue, excluding divested businesses, was impacted by currency translations ($3.3 million), change of estimates 1 ($5.3 million). ▪ Third quarter testing volumes, excluding divested businesses, grew 12% year-over-year. Hereditary cancer testing volume continued to improve in 2022 and grew 4% year-over-year in the third quarter. GeneSight volumes grew 34% over third quarter of 2021. ▪ We believe that the underlying pricing of Myriad testing products remains stable, notwithstanding that average selling price overall was negatively impacted by currency translations, change of estimates and a non-recurring milestone payment in the third quarter. • Diluted GAAP earnings per share (EPS) were $(0.43) and adjusted EPS were $(0.19) in the third quarter of 2022 .

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Source: SEC EDGAR

accession 0000899923-22-000137

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