Slide 1: Second Quarter 2025 Earnings Call
Second Quarter 2025 Earnings Call August 5, 2025 ©2025 Myriad Genetics, Inc.
Slide 2: Forward-looking statements and Non-GAAP financial measures
Forward-looking statements and Non-GAAP financial measures Some of the FORWARD-LOOKING STATEMENTS AND DISCLAIMERS information presented These statements are based on management’s current expectations and the actual events or results may differ materially and adversely here today contains from these
Slide 3: Second quarter 2025 performance and highlights
Second quarter 2025 performance and highlights Q2 demonstrates improving Attractive Well positioned to drive underlying growth profile profitability trend long-term growth Q2 ‘25 revenue of $213.1 million 71.5% adj. gross margins in Q2 ‘25, Enhanced capital structure with driven by: grew 140 basis p
Slide 4: Updated Strategy and Strategic Pillars
STRATEGY TEAM E EX XE EC CU UT TI OI ON N Updated Strategy and Strategic Pillars Driving Accelerated Growth and Profitability by Focusing on the Cancer Care Continuum and Strengthening Execution Focus on the Grow revenue at or above market Focus on sustained Cancer Care Continuum (CCC) in Prenatal H
Slide 5: Strategic Pillar #1
STRATEGY Strategic Pillar # 1 CCC SEGMENT TAM (EST) CAGR (EST) Focus on the Cancer Care Continuum to accelerate growth Affected HCT $2B MSD Unaffected HCT $5B HSD / LDD • Leverage HCT leadership; affected + unaffected Comprehensive • Expand portfolio in attractive segments, such as therapy selection
Slide 6: Strategic Pillar #2 and #3
STRATEGY Strategic Pillar #2 and #3 Grow revenue at or above market Focus on sustained in Prenatal Health & Mental Health profitable growth • Leverage recent Prenatal portfolio expansions • Maintain industry leading gross margin profile • Launch FirstGene for the broader market • Maintain financial
Slide 7: Delivering sustained profitable growth with the CCC strategy
Delivering sustained profitable growth with the CCC strategy What will be different going forward? Leveraging Capital Allocation Myriad’s Strengths Prioritized focus, investments and resourcing of the CCC strategy • Market leader for HCT Portfolio and HRD Beyond HCT and HRD; providing compelling off
Slide 8: Mark Verratti
Mark Verratti CHIEF OPERATING OFFICER ©2025 Myriad Genetics, Inc. 8
Slide 9: Second quarter 2025 commercial highlights
Second quarter 2025 commercial highlights Figures in millions, except percentages Total Revenue Hereditary Cancer Revenue Prenatal Revenue Hereditary Cancer $215 1% YOY Q2‘25 5% $50 7% YOY Q2‘25 YOY Q2 ‘25 $100 213.1 96.3 47.6 211.5 91.5 $45 44.4 $90 $80 $40 Q2 '24 Q2 '25 Q2 '24 Q2 '25 • Continued s
Slide 10: Oncology Operational results
Oncology Operational results Second quarter 2025 and recent highlights $86M Q2 ’25 revenue Q2 ’25 Hereditary cancer testing revenue in Oncology grew 9% YOY driven by 10% volume growth YOY ~54k Q2 ‘25 Prolaris revenue grew 4% YOY, Q2 ‘25 volume reflecting stability post National Comprehensive Cancer
Slide 11: Women's Health Operating results
Women’s Health Operating Second quarter 2025 and results recent highlights $90M Q2 ’25 prenatal revenue growth reflected Q2 ’25 revenue increasing payor coverage offset by friction from new order management system implementation ~194k Q2 ‘25 volume Launched early access of FirstGeneTM Multiple Prena
Slide 12: Mental Health Second quarter 2025 and recent highlights
M e nt al H e al t h Second quarter 2025 and recent highlights Operational results GeneSight test volume grew 5% YOY, an acceleration from Q1 ’25, reflecting recent initiatives $38M Q2 ’25 revenue Excluding UnitedHealthcare and changes of estimates, Q2 ‘25 average ~135k revenue per GeneSight test wa
Slide 13: Scott Leffler
Scott Leffler CHIEF FINANCIAL OFFICER ©2025 Myriad Genetics, Inc. 13
Slide 14: Second quarter 2025 financial performance
Second quarter 2025 financial performance Positive trend in average revenue per test and improvements throughout P&L support profitability All figures in millions, except per share amounts and percentages Total revenue Adjusted Gross Margin* Adjusted Operating Expense* Adjusted EPS* 1% 140bps 2% YOY
Slide 15: Select Payer Wins
Activities supporting sustainable pricing environment going forward Select Payer Wins (by test, year-to-date as of August 4, 2025) Revenue cycle Invested in revenue Ongoing payor Foresight ECS process cycle and pre- and 3rd party Favorable policy decisions at: improvements authorization team engagem
Slide 16: Underlying second quarter 2025 revenue growth
Underlying second quarter 2025 revenue growth (Q2 ‘24 to Q2 ‘25) Total revenue* All figures in millions, except percentages $225 +5% $220 YOY Q2 ‘25 $215 213.1 211.5 $210 $205 2.4 For comparison purposes, 202.0 reported Q2 ’24 revenue $200 7.1 included $9.5 million $195 from items that did not $190
Slide 17: New credit facility boosts liquidity
New credit facility boosts liquidity Total potential liquidity Total cash and cash equivalents at end of Q2 ‘25 $74.4 Add initial tranche from new credit facility (July 31, 2025) 125.0 Pay transaction fees (8.5) Pay down and retire asset-based credit facility (60.0) Add new credit facility option to
Slide 18: Raising 2025 revenue guidance; reiterate Adj. EPS range given financing
Raising 2025 revenue guidance; reiterate Adj. EPS range given financing All figures in millions, except per share amounts and percentages 2025 Prior 2025 Updated (as of May 6, 2025) (as of August 5, 2025) Total revenue $807 - $823 $818 - $828 Q2 adjustments to 2025 business outlook: Gross Raised mid
Slide 19: Q&A
Q&A ©2025 Myriad Genetics, Inc. 19
Slide 20: Appendix
Appendix ©2025 Myriad Genetics, Inc. 20
Slide 21: Reconciliation of GAAP to Non-GAAP: Adjusted Gross Margin
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months Ended June 30, 2025 and 2024– Adjusted Gross Margin (unaudited data in millions) Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 Adjusted Gross Margin Gross Profit $ 151.8 $ 147.1 $ 286.0 $ 2
Slide 22: Reconciliation of GAAP to Non-GAAP: Adjusted Operating Expenses
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months Ended June 30, 2025 and 2024 – Adjusted Operating Expenses (unaudited data in millions) Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 Adjusted Operating Expenses Operating Expenses $ 481.0
Slide 23: Reconciliation of GAAP to Non-GAAP: Adjusted Operating Expenses (Cont.)
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months Ended June 30, 2025 and 2024 – Adjusted Operating Expenses (Cont.) (1) Represents recurring amortization charges resulting from the acquisition of intangible assets. (2) Expense related to goodwill and long-lived asse
Slide 24: Reconciliation of GAAP to Non-GAAP: Adjusted Net Loss
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months Ended June 30, 2025 and 2024– Adjusted Net Loss (unaudited data in millions, except per share amounts) Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 Adjusted Net Income(1) Net Loss $ (330.5
Slide 25: Reconciliation of GAAP to Non-GAAP: Adjusted Net Loss (Cont.)
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months Ended June 30, 2025 and 2024 - Adjusted Net (Loss) (Cont.) (1) To determine Adjusted Earnings (Loss) Per Share, or adjusted EPS. (2) Represents recurring amortization charges resulting from the acquisition of intangib
Slide 26: Reconciliation of GAAP to Non-GAAP: Adjusted EBITDA
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months Ended June 30, 2025 and 2024– Adjusted EBITDA (unaudited data in millions) Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 Adjusted EBITDA Net Loss $ (330.5) $ (36.7) $ (330.6) $ (62.7) Acqui
Slide 27: Reconciliation of GAAP to Non-GAAP: Adjusted EBITDA (Cont.)
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months Ended June 30, 2025 and 2024 - Adjusted EBITDA (Cont.) (1) Represents recurring amortization charges resulting from the acquisition of intangible assets. (2) Depreciation expense excludes depreciation included in real
Slide 28: Reconciliation of GAAP to Non-GAAP: Adjusted Free Cash Flow
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months Ended June 30, 2025 and 2024– Adjusted Free Cash Flow (unaudited data in millions) Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 Adjusted free cash flow Net cash (used in) provided by opera