Myriad Genetics, Inc. · NASDAQ:MYGN

Myriad Genetics — Q4 2024 Earnings Presentation

42 slides from Myriad Genetics's earnings presentation, Mar 4, 2025

1. Slide 1: Fourth Quarter and Full-Year 2024 Earnings Call

   Fourth Quarter and Full-Year 2024 Earnings Call February 24, 2025 ©2025 Myriad Genetics, Inc.

2. 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

3. Slide 3: Mission and Vision

   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 molecular diagnostic testing and precision medicine, we provide insights that help people take control of their health and enable healthcare providers to be

4. Slide 4: Delivering innovative patient centric solutions and financial results

   Myriad Genetics continues to focus on delivering innovative patient centric solutions and financial results while continuing to invest in our operating capabilities to support long-term profitable growth Innovation in ‘24 and into 2025 Investing in core differentiated tests in prenatal and oncology

5. Slide 5: Journey to revitalize Myriad Genetics and build foundation for future growth

   Journey to revitalize Myriad Genetics and build foundation for future growth Executing to deliver clinical value for patients and providers with a sustainable business model Accelerate growth +11% & profitability 2024 Revenue growth (YoY) +11% Innovation at scale • Transformative new products 2023 P

6. Slide 6: Full year 2024 financial results and recent highlights

   Full year 2024 financial results and recent highlights Top-Line Growth Increasing Profitability Execution of and Liquidity Strategic Priorities Recognized as one of Successful launch of new “America’s best 11% total revenue growth $589 million of adj. gross Prequel test (with 8-week midsize employer

7. Slide 7: Sam Raha, Chief Operating Officer

   Sam Raha CHIEF OPERATING OFFICER ©2025 Myriad Genetics, Inc. 8

8. Slide 8: Core strategy across the business areas remains intact

   Women’s Oncology Health Pharmacogenomics Core strategy across the business areas remains intact ©2025 Myriad Genetics, Inc. 9

9. Slide 9: Oncology strategy

   Clear strategy designed to leverage comprehensive portfolio and drive future innovation How we win Strengthening value proposition • Comprehensive portfolio • Expanding offerings and indications • Focus on community oncologists • Expanding into new categories of care (MRD) • Recognized brand and rep

10. Slide 10: Women's Health strategy

    Positioned to increase market share and profitability How we win Strengthening value proposition • Breadth of portfolio • Enhancing clinical utility • Expand access and equity • Extend leadership in cancer risk assessment • Increase payor coverage • Automating workflows Women’s Health ©2025 Myriad G

11. Slide 11: Pharmacogenomics strategy

    Recognize the value of GeneSight Pharmacogenomic test and its continued role in medication administration How we win Maintain value proposition • Maintain leadership • Expand coverage; leverage biomarker laws • Digital engagement and on-boarding • Refine go-to-market strategies • Highly efficient bu

12. Slide 12: Growth drivers for 2025 and beyond

    Growth drivers for 2025 and beyond Innovation Pipeline Enterprise Initiatives Leveraging Partnerships Expanding investments in R&D and Advanced digital capabilities focused Myriad to leverage external advanced diagnostic technologies on improving customer experience capabilities and technologies to

13. Slide 13: Exciting addition to our Prostate portfolio

    Exciting addition to our Prostate portfolio Access to disruptive AI platform that compliments Myriad’s deep expertise in molecular diagnostics Who is PATHOMIQ Strategic Collaboration with Exclusive License Private, early stage, AI-technology Positions Myriad to offer both AI and company based in Cal

14. Slide 14: Extending Myriad Oncology portfolio across the continuum of care for prostate cancer

    Extending Myriad Oncology portfolio and enhancing clinical utility across the continuum of care for prostate cancer Diagnosis & Therapy Selection Monitoring & Therapy Adjustment Remission In consideration: Clinical AI AI Surgery (RP) Expect to launch later in 2025 Radiation Therapy Surgery Biopsy Di

15. Slide 15: Mark Verratti, Chief Commercial Officer

    Mark Verratti CHIEF COMMERCIAL OFFICER ©2025 Myriad Genetics, Inc. 16

16. Slide 16: Fourth quarter 2024 commercial highlights

    Fourth quarter 2024 commercial highlights Total revenue Hereditary CancerHereditary Revenue Cancer Q4 trends reflect: Figures in millions • Positive trend across average revenue per test (+3% YOY) continues to demonstrate overall 11% $100 6% stability 2024 Revenue Growth (YOY) $98 Q4’24 Revenue Grow

17. Slide 17: Deploying industry-leading EMR solutions in all channels

    Deploying industry-leading EMR solutions in all channels Streamlining workflows, expanding access and driving added volume New EMR-integrated provider sites Oncology focus 2,000+ cancer care clinicians nationwide + • Full suite of oncology products • Detailed variant data 4500+ Ongoing investment 1,

18. Slide 18: Women's Health

    Women’s Health 14%1 Goal: increase access to genetic insights for patients YOY Revenue receiving care across women's health channels growth Successful mid-Q4 launch of Prequel Early Gestational Age Key clinical questions In January 2025, Myriad unveiled Cancer risk groundbreaking research relating t

19. Slide 19: Expanding market opportunities with the recent launches

    Expanding market opportunities with the recent launches • Expansion of guidelines should help drive adoption Foresight and payer coverage Universal Plus • Platform upgrade designed to harmonize workflow and cost advantages A more comprehensive carrier screening panel • Panel expansion will support a

20. Slide 20: Pharmacogenomics

    Pharmacogenomics Goal: Drive double-digit revenue where we have strategic advantage in the primary care market Key clinical question Provided over 3 million tests to date from 30,000+ providers and growing “Are there drugs for treating major depressive disorder where my genetics may Continue engagem

21. Slide 21: Oncology

    Oncology 24%1 YoY MyRisk Affected Goal: Bring the “clarity” of genetics, genomics Revenue growth and AI to more patients Fourth quarter 2024 hereditary Key clinical questions cancer testing revenue in Oncology grew 8% year-over-year CANCER RISK “Based on hereditary 5-year alliance with the Universit

22. Slide 22: Prolaris maintains 'advanced tool' designation in NCCN guidelines

    Prolaris maintains ‘advanced tool’ designation in NCCN guidelines 1.2025* Prostate cancer biopsy market • Included in NCCN guidelines for low, intermediate, and high-risk patients at the time of initial biopsy (~265k annual patients diagnosed each year) TOTAL ESTIMATED NUMBER OF • Like ALL other pro

23. Slide 23: Actively expanding high-quality testing pipeline

    Actively expanding high-quality testing pipeline, addressing real-world community needs Oncology Women’s Health MyRisk®Gene Expansion Target: 2H ‘25 Launch Foresight® Launched (Q3 ’24) Germline and hereditary cancer screening Expanded carrier screen: Universal Plus Expanding the gene panel to includ

24. Slide 24: Scott Leffler, Chief Financial Officer

    Scott Leffler CHIEF FINANCIAL OFFICER ©2025 Myriad Genetics, Inc. 25

25. Slide 25: Growth driven by diversified portfolio in Q4'24 and 2024

    Growth driven by diversified portfolio in Q4’24 and 2024 Select test revenue and growth rates All figures in millions, except growth rates Prenatal Pharmacogenomics Additional Highlights: Hereditary Cancer As part of Hereditary Cancer testing, MyRisk revenue grew 8% and 17% YOY in Q4‘24 $400 11% $20

26. Slide 26: Ongoing activities supporting sustainable pricing environment

    Ongoing activities supporting sustainable pricing environment going forward Industry developments Revenue cycle Invested in revenue Ongoing payor Favorable process cycle and pre- and 3rd party positive pricing improvements authorization team engagement environment AI-enhanced insights; Added headcou

27. Slide 27: Financial progression by quarter (Q4'23 – Q4'24)

    Financial progression by quarter (Q4‘23 – Q4’24) All figures in millions, except per share amounts and percentages Total revenue Adjusted Gross Margin* Adjusted Operating Expense* Adjusted EPS* 7% 300bps 68% As a percent of FY 2024 Revenue, YOY Q4‘24 YOY Q4‘24 down from 72% in FY 2023 72.0% $150 72%

28. Slide 28: Strong gross profit, adjusted EBITDA, and healthy liquidity position

    Strong gross profit, adjusted EBITDA, and healthy liquidity position Adjusted Gross Profit1 Adjusted EBITDA1 $ in millions Generated over 13% $588.7 $40 million Q4‘24 and 2024 adj. 600 $520.0 in 2024 operating cash flow1 was 450 ~$15 million and $28 Liquidity position2 million, respectively 300 12%

29. Slide 29: Reaffirming 2025 and introducing Q1'25 financial guidance

    Reaffirming 2025 and introducing Q1’25 financial guidance All figures in millions, except per share amounts and percentages 2025 Total Additional Commentary revenue $840 - $860 Q1 ’25 Q1’25 revenue is expected to be between $196 and $204 million. Gross 69.5% – margin % 70.5% Q1’25 adjusted EPS is ex

30. Slide 30: Strength of business model expected to drive strong sustained results

    Strength of business model expected to drive strong sustained results Revenue growth expected to benefit from: • Ongoing commercial execution across focus markets Double-digit long-term • Average revenue per test trends remain stable • Modest contribution from planned new products and no contributio

31. Slide 31: Q&A

    Q&A ©2025 Myriad Genetics, Inc. 32

32. Slide 32: Appendix

    Appendix ©2025 Myriad Genetics, Inc. 33

33. Slide 33: Reconciliation of GAAP to Non-GAAP – Adjusted Gross Margin

    Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2024, and 2023 – Adjusted Gross Margin (unaudited data in millions, except per share amounts) ©2025 Myriad Genetics, Inc. 34

34. Slide 34: Reconciliation of GAAP to Non-GAAP – Adjusted Operating Expenses

    Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2024, and 2023 – Adjusted Operating Expenses (unaudited data in millions, except per share amounts) ©2025 Myriad Genetics, Inc. 35

35. Slide 35: Reconciliation of GAAP to Non-GAAP – Adjusted Operating Expenses footnotes

    Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2024, and 2023 – Adjusted Operating Expenses (1) Represents recurring amortization charges resulting from the acquisition of intangible assets. (2) Expense related to goodwill and long-lived asse

36. Slide 36: Reconciliation of GAAP to Non-GAAP – Adjusted Net Income (Loss)

    Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2024, and 2023 – Adjusted Net Income (Loss) (unaudited data in millions, except per share amounts) ©2025 Myriad Genetics, Inc. 37

37. Slide 37: Reconciliation of GAAP to Non-GAAP – Adjusted Net Income (Loss) footnotes

    Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2024, and 2023 - Adjusted Net Income (Loss) (1) To determine Adjusted Earnings (Loss) Per Share, or adjusted EPS. (2) Represents recurring amortization charges resulting from the acquisition of i

38. Slide 38: Reconciliation of GAAP to Non-GAAP – Adjusted EBITDA

    Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2024, and 2023 – Adjusted EBITDA (unaudited data in millions, except per share amounts) ©2025 Myriad Genetics, Inc. 39

39. Slide 39: Reconciliation of GAAP to Non-GAAP – Adjusted EBITDA footnotes

    Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2024, and 2023- Adjusted EBITDA (1) Represents recurring amortization charges resulting from the acquisition of intangible assets. (2) Depreciation expense excludes depreciation included in real

40. Slide 40: Reconciliation of GAAP to Non-GAAP – Adjusted Free Cash Flow

    Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2024, and 2023 – Adjusted Free Cash Flow (unaudited data in millions, except per share amounts) ©2025 Myriad Genetics, Inc. 41

41. Slide 41: Reconciliation of GAAP to Non-GAAP – 2022 Adjusted Net Loss

    Reconciliation of GAAP to Non-GAAP Financial Measure for the Years ended December 31, 2022 –Adjusted Net Loss (unaudited data in millions, except per share amounts) ©2025 Myriad Genetics, Inc. 42

42. Slide 42: Reconciliation of GAAP to Non-GAAP – 2022 Adjusted Net Loss footnotes

    Reconciliation of GAAP to Non-GAAP Financial Measure for the Years ended December 31, 2022 –Adjusted Net Loss (1) To determine Adjusted Earnings (Loss) Per Share, or adjusted EPS. (2) Represents recurring amortization charges resulting from the acquisition of intangible assets. (3) Expense related t

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