Slide 1: Second Quarter 2024 Earnings Call
A U G U S T 6 , 2 0 2 4 Second Quarter 2024 Earnings Call ©2024 Myriad Genetics, Inc. ©2024 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 from these expectations. We ref
Slide 3: Revealing the power of genetic science – for everyone
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 hea
Slide 4: Second quarter 2024 operating and recent highlights
Second quarter 2024 operating and recent highlights Raising 2024 Guidance; Execution of Near-Term Increasing Long-Term Strong Top-Line Growth Increasing Profitability Strategic Priorities Revenue Growth Target Launched Foresight Increasing 2024 revenue +15% YOY revenue +17% YOY Gross Universal Plus
Slide 5: Myriad Strategy distilled, cornerstones of future growth and innovation
Myriad Strategy distilled, cornerstones of future growth and innovation 4 strategic pillars Top 5 test provider requirements N O RT H STAR Science and innovation Germline Providers (ranked by importance) Top-tier science delivering products that are clinically validated and demonstrate proven utilit
Slide 6: Mark Verratti, Chief Commercial Officer
Mark Verratti Chief Commercial Officer ©2024 Myriad Genetics, Inc. 6
Slide 7: Accelerating hereditary cancer revenue growth
Accelerating hereditary cancer revenue growth Hereditary cancer test revenue Roadmap of expected highlights +15% Figures in millions * 2024 MyRisk patient portal $95 Q2 ’24 LTM Revenue Growth (YOY) MyRisk Medical Management Tool Enhancements RiskScore studies $85 Breast Cancer Risk Assessment Progra
Slide 8: Prenatal market continues to grow with potential tailwinds from guideline expansion
The prenatal market continues to grow with potential tailwinds from guideline expansion Actionable market Market Market MYGN Prenatal test revenue excl. SneakPeek size (US only)1 penetration1 growth2 market share1 Figures in millions PREQUEL +35%* Low single Low-to-mid ~$1.3B 45-55% digits teens Q2
Slide 9: Foresight Universal Plus designed to meet anticipated medical-society guidelines
Foresight Universal Plus designed to meet anticipated medical-society guidelines June ’24 Foresight (LAUNCHED) Prior Developments: Platform upgrade designed to harmonize workflow and cost 274 Foresight genes advantages Guideline expansion and potential payer coverage of an 176 Foresight genes expand
Slide 10: Strong commercial execution driving significant growth in Pharmacogenomics
Strong commercial execution driving significant growth in Pharmacogenomics the last twelve months Actionable market size (US only)1 Market penetration1 Market growth2 MYGN market share1 GeneSight test revenue Figures in millions ~$5B 15% Mid teens 55-60% 50 +16% Q2 ’24 LTM Revenue Growth (YOY) * Roa
Slide 11: Active expansion of high-quality testing pipeline
Active expansion of high-quality testing pipeline, addressing real-world community needs Precise Oncology Solutions Women’s Health Precise Tumor Precise Liquid Precise MRD Foresight FirstGene Robust tumor profiling Robust tumor profiling Molecular residual Expanded carrier screen Multiple prenatal s
Slide 12: Sam Raha, Chief Operating Officer
Sam Raha Chief Operating Officer ©2024 Myriad Genetics, Inc. 12
Slide 13: Second quarter 2024 operational highlights supporting our growth
Second quarter 2024 operational highlights supporting our growth Team Engagement Perception Efficiency & Productivity Revenue Cycle 84% 72 87% +6% Average Revenue per Test Of our team rate Myriad as a Net Promoter Score among Samples processed within what YOY increase (Q2 ’24 vs. Q2 ‘23) “Great Plac
Slide 14: Advancing the Labs of the Future program
Advancing the Labs of the Future program Objective To drive innovation and operational excellence at scale and deliver high quality results with shortened Advanced R&D 65k Incubate / advance new technologies square feet turnaround times and lower COGs per test Q2 ‘24 Highlights Salt Lake City (“Camp
Slide 15: Accelerator of long-term growth and profitability
Accelerator of long-term growth and profitability Molecular Residual Disease (MRD) program highlights Pre-2024 2024 2025+ Core intellectual Strengthened IP portfolio Expanding number of property (IP) portfolio prospective and Early look at data retrospective studies Established research Added global
Slide 16: Scott Leffler, Chief Financial Officer
Scott Leffler Chief Financial Officer ©2024 Myriad Genetics, Inc. 16
Slide 17: Hereditary cancer, Prenatal and GeneSight test revenue drive performance in Q2 '24
Hereditary cancer, Prenatal and GeneSight test revenue drive performance in Q2 ‘24 Select test revenue and growth rates All figures in millions, except growth rates Hereditary Cancer Prenatal excl. SneakPeek Pharmacogenomics $100 19% $100 29% $100 22% $90 $90 $90 Prenatal testing $80 $80 $80 highlig
Slide 18: Positive average revenue per test environment in 2024
Positive average revenue per test environment in 2024; Sustainable improvements going forward Industry developments Revenue cycle Invested in revenue Ongoing Favoring process cycle and pre- payor positive pricing improvements authorization team engagement environment AI-enhanced insights; Added head
Slide 19: Estimated annual P&L impact of international restructuring and divestiture
Estimated annual P&L impact of international restructuring and divestiture Estimated Annual Impact of Restructuring and Divestiture Revenue $ 11.0 COGS 4.8 Transactions benefits Gross Margin 6.3 Streamlined international OPEX 10.5 operations increases enterprise profitability Operating Income $ (4.3
Slide 20: Q2 '24 spotlight on US strength and international restructuring
Q2 ’24 spotlight on US strength and international restructuring US / ROW total revenue and growth rates All figures in millions, except growth rates US total revenue: ROW total revenue: US highlights: 25% Hereditary cancer revenue growth YOY $200 20% $200 21% 25% Prenatal revenue growth YOY $160 $16
Slide 21: Financial progression by quarter (2023 – Q2 '24)
Financial progression by quarter (2023 – Q2 ’24) All figures in millions, except per share amounts and percentages Total revenue Adjusted Gross Margin* Adjusted Operating Expense* Adjusted EPS* 15% 72% 67% As a Percent of Q2 ‘24 Revenue, YOY Q2 ‘24 70.4% down from 73% in Q2 ‘23 70.1% 0.05 0.04 144.5
Slide 22: Healthy gross profit growth and positive trend in Adjusted EBITDA
Healthy gross profit growth and positive trend in Adjusted EBITDA in Q2 ’24 Adjusted Gross Profit* Adjusted EBITDA* $ in millions $ in millions 17% $16 million Q2 ‘24 adj. operating cash YOY Second Quarter 2024 YOY Second Quarter 2024 flow was $16.4 million; $148.2 $11.7 continue to expect positive
Slide 23: Raising 2024 financial guidance
Raising 2024 financial guidance All figures in millions, except per share amounts and percentages 2024 financial guide PRIOR NEW Expected YOY Change Total revenue $820 - $840 $835 - $845 11% - 12% Gross margin % 69.5% - 70.5% 70.0% - 70.5% 100 – 150 bps Adjusted operating $572 - $582 $575 - $585 6%
Slide 24: Well positioned to take advantage of future market opportunities
Believe well positioned to take advantage of future market opportunities Long-term annual revenue Year-to-date revenue growth of 13% up from 11% last year, enabled by double digit volume growth and improving average revenue per test growth expected to accelerate to landscape, supports an improved lo
Slide 25: Q&A
Q&A ©2024 Myriad Genetics, Inc. 25
Slide 26: Appendix
Appendix ©2024 Myriad Genetics, Inc. 26
Slide 27: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months ended June 30, 2024 and 2023 (unaudited data in millions, except percentages) ©2024 Myriad Genetics, Inc. 27
Slide 28: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months ended June 30, 2024 and 2023 (unaudited data in millions, except per share amounts) ©2024 Myriad Genetics, Inc. 28
Slide 29: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months ended June 30, 2024 and 2023 (unaudited data in millions, except per share amounts) ©2024 Myriad Genetics, Inc. 29
Slide 30: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months ended June 30, 2024 and 2023 Following is a description of the adjustments made to GAAP financial measures: • Acquisition – amortization of intangible assets – represents recurring amortization charges resulting from
Slide 31: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Six Months ended June 30, 2024 and 2023 • Depreciation expense - depreciation expense recognized on our fixed assets. • Goodwill and long-lived asset impairment charges – for the three and six months ended June 30, 2024, primari