Myriad Genetics, Inc. · NASDAQ:MYGN
Myriad Genetics — Q1 2023 Earnings Presentation
23 slides from Myriad Genetics's earnings presentation, May 3, 2023
Slide 1: First Quarter 2023 Earnings
First Quarter 2023 Earnings May 3rd, 2023 ©2023 Myriad Genetics, Inc. All rights reserved. ©2023 Myriad Genetics, Inc. All rights reserved. www.Myriad.com
Slide 2: Forward-looking statements and Non-GAAP financial measures
Forward-looking statements and Non-GAAP financial measures Some of the information These statements are based on management’s current expectations and the actual presented here today may events or results may differ materially and adversely from these expectations. We contain projections or refer yo
Slide 3: Revealing the power of genetic science – for everyone
TM Revealing the power of genetic science – for everyone Mission We advance health and well-being for all, empowering every individual by revealing the answers inside each of us. Vision As a leader in genetic testing and precision medicine, we provide insights that help people take control of their
Slide 4: First quarter operating and financial highlights
First quarter operating and financial highlights 1Q ‘23 Revenue Growth Continued Execution in Recently Announced Positive ‘23 Outlook: Driven by All Product Lines in MyRisk Hereditary Cancer Strategic Partnerships Raised Mid-Point of Revenue each Business Unit Testing (HCT) and GeneSight and Collabo
Slide 5: Our value proposition in an increasingly patient-centric, value-based market
Our value proposition in an increasingly patient-centric, value-based market Innovating in precision medicine to support treatment selection and improve clinical outcomes Best-in-class quality tests and insights • Pioneer in molecular and companion diagnostics to improve patient recovery and survivo
Slide 6: Pillars of long-term growth and profitability
Pillars of long-term growth and profitability Top-tier science-delivering products that are clinically validated and demonstrate proven utility (quality access and cost) in real world clinical settings Automated, scalable, and cost-effective laboratory operations and technology platform Strong digit
Slide 7: Mark Verratti, Chief Commercial Officer
Mark Verratti Chief Commercial Officer ©2023 Myriad Genetics, Inc. All rights reserved. www.Myriad.com 3 May 2023 7
Slide 8: Our commercial team is delivering strong performance
Our commercial team is delivering strong performance Myriad Commercial Platform We’re seeing strong sales performance across all product lines • Tenured salesforce is hitting their stride with turnover down to 8% Mental • Driving deeper penetration in existing accounts Health • Landing new accounts,
Slide 9: Oncology: MyRisk and Prolaris continue strong momentum in 2023
Oncology: MyRisk and Prolaris prostate cancer prognostic test continue strong momentum in 2023 Oncology Operational results Quarterly highlights ~50k • Q1 ’23 test volume increased 12% compared to the Q1 ’22. Q1 ‘23 volume • Prolaris volumes increased 22% compared to Q1 ‘22. Prolaris is the only pro
Slide 10: Women's Health: Strong MyRisk Hereditary Cancer and Prenatal volume momentum
Women’s Health: Strong MyRisk Hereditary Cancer and Prenatal volume momentum in early 2023 Women’s Health Operating results Quarterly highlights ~189k • Q1 ’23 HCT volumes grew 32% year-over-year, making this the third consecutive quarter of Q1 ‘23 volume positive YOY growth. • Q1 ’23 prenatal testi
Slide 11: Mental Health: GeneSight test volume continues strong growth trajectory
Mental Health: GeneSight test volume continues strong growth trajectory Mental Health Operating results Quarterly highlights • In Q1 ’23, added approximately 4,000 ~110k clinicians who ordered GeneSight for the first time (up from over 3,000 clinicians in Q1 ‘23 volume Q4 ’22). • In March ‘23, bipar
Slide 12: GeneSight Marketing Funnel 2023 – expanding to Women's Health
GeneSight Marketing Funnel 2023 – expanding to Women’s Health 2022 Results: Total Impressions 370M Total Website Traffic 1.6M visitors +10% YoY* HCP Leads Patient Leads >50% lead growth YoY on both Providers and Patients +50% YoY +54% YoY HCP Orders Patient Orders +29% YoY +43% YoY * Growth rates re
Slide 13: Nicole Lambert, Chief Operating Officer
Nicole Lambert Chief Operating Officer ©2023 Myriad Genetics, Inc. All rights reserved. www.Myriad.com 3 May 2023 13
Slide 14: Focus Areas: Women's Health, Oncology, Mental Health
3 Focus Areas: Women's Health, Oncology, Mental Health Women’s Health Oncology Mental Health A leader in health and wellness with Clarifying cancer treatment with genetic Using genetic insights to help physicians BUSINESS best-in-class genetic insights for women and genomic insights and companion un
Slide 15: Advancing key operational platforms for sustainable growth
Advancing key operational platforms for sustainable growth Unified Order Revenue Cycle Unified Provider Portal Management Management Easy digital ordering and result delivery Central hub for customer service for community practitioners and internal order fulfillment Labs of the Future • Capture all
Slide 16: Investments driving momentum in Hereditary Cancer
Investments driving momentum in Hereditary Cancer EMR clinic integrations in 2022 across January 2023 go-live of unified MyRisk, Prenatal and Genesight provider portal in Women’s Health MyRisk Results Delivered via EMR MyRisk Unified Provider Portal Orders 10,000 3 8,000 2 6,000 4,000 1 Baseline 2,0
Slide 17: Labs of the Future driving innovation, scale, lower costs and high-performance culture
Labs of the Future driving innovation, scale, lower costs and high-performance culture Myriad Genetics Headquarters and Walter Gilbert, Ph.D, Research and Central Lab Operations Innovation Center SALT LAKE CITY SOUTH SAN FRANCISCO Industry-leading turn-around times, higher volume lab operations, Adv
Slide 18: New strategic partnerships & collaborations
New strategic partnerships & collaborations TM TM Expanded partnership to broaden access to Collaboration to Advance Precision Medicine with homologous recombination deficiency (HRD) testing New Genetic Risk Assessment Program Illumina TruSightTM Oncology 500 HRD, a Program combines diagnostic imagi
Slide 19: Bryan Riggsbee, Chief Financial Officer
Bryan Riggsbee Chief Financial Officer ©2023 Myriad Genetics, Inc. All rights reserved. www.Myriad.com 3 May 2023 19
Slide 20: Hereditary cancer test & GeneSight volumes drive Q1 '23 performance
Hereditary cancer test & GeneSight volumes drive Q1 ’23 performance Total Test Volume and Growth Rates ,000’s ,000’s Q1 ‘23 growth driven by: 100 100 HCT volumes +24% YOY 90 90 80 80 70 70 GeneSight volumes +31% YOY +31% 60 60 50 +24% 50 Prenatal volumes +77% YOY reflects contribution 40 40 from Sne
Slide 21: Myriad Genetics 2023 financial guidance
Myriad Genetics 2023 financial guidance All figures in millions, except per share amounts 2023 Full-Year Financial Guidance Full-Year Comments Increased the low end of the range by $10 million; 2023 annual growth now Total revenue $730 - $750 between 8% - 11% over 2022. Gross margin % 68% - 70% Reaf
Slide 22: Investment considerations: Myriad strengths and strategic advantages
Investment considerations: Myriad strengths and strategic advantages Significant market growth in focused business areas Leader in genetic testing and precision medicine Best-in-class product quality • Long-term growth strategy on track • Broad and growing commercial capabilities Strong scalable wit
Slide 23: Q&A
Q&A ©2023 Myriad Genetics, Inc. All rights reserved. www.Myriad.com 3 May 2023 23