Myriad Genetics Q2 revenue $183.5M, settles securities class action for $77.5M

MYRIAD GENETICS INC

2023-Q2 EPS reported -$2.10 revenue$364,700,000

Q2 revenue $183.5M, up 2% YoY; diluted GAAP EPS $(1.42), adjusted EPS $(0.08).
Test volume grew 38% YoY (17% ex-SneakPeek); hereditary cancer volume up 20% YoY.
Agreed to settle securities class action for $77.5M: $20M cash in Q3 2023, remainder in cash or stock by Q1 2024.
Reaffirmed FY2023 revenue guidance $730-750M; adjusted EPS loss $(0.36)-(0.24); targeting positive adjusted profitability in Q4.
Established new $90M asset-based credit facility (option to $115M); ended Q2 with $127.8M cash.

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Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MYRIAD GENETICS INC reported second quarter ended June 30, 2023 results: revenue $183.5 million, EPS $(1.42). Guidance reaffirmed.

Period: second quarter ended June 30, 2023
Revenue: $183.5 million
EPS: $(1.42)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

volumes grew 23% year-over-year. ▪ Prenatal test volumes grew 12% year-over-year, excluding contributions from the SneakPeek Early Gender DNA Test. • Second quarter revenue of $183.5 million, grew 2% year-over-year, inclusive of a $11.7 million change of estimate in the second quarter of 2022 versus an immaterial amount in the current quarter. Excluding these change

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Source: SEC EDGAR

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