Slide 1: Fourth Quarter & Full-Year 2023 Earnings
F E B R U A R Y 2 7 , 2 0 2 4 Fourth Quarter & Full-Year 2023 Earnings ©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: Serving a more patient-centric healthcare system: Myriad Genetics' overarching goals
Serving a more patient-centric healthcare system: Myriad Genetics’ overarching goals Innovating in precision medicine to detect disease, support treatment decisions and improve clinical outcomes Develop best-in-class test quality and scientific insights • Industry-leading R&D delivers critical prena
Slide 5: Innovation collaboration: Partnering with leading healthcare visionaries
Innovation collaboration: Partnering with leading healthcare visionaries ©2024 Myriad Genetics, Inc. 5
Slide 6: Full year and fourth quarter 2023 operating and financial highlights
Full year and fourth quarter 2023 operating and financial highlights Full-Year 2023 Revenue Raising 2024 Revenue Growth Driven by All Positive Q4’23 Adj. EPS and Guidance: Healthy Ongoing Investments in Three Business Units Adj. Operating Cash Flow Balance Sheet Strategic Growth Channels Raising 202
Slide 7: Diversified portfolio within large, fragmented, actionable markets
Diversified portfolio within large, fragmented, actionable markets Oncology Women’s Health PGx AFFECTED HCT + TUMOR PROFILING3 MRD HRD2 UROLOGY PRENATAL UNAFFECTED HCT PGx GERMLINE Actionable Market Opp.1 $1.2B $500M $20B+ $350M $600M $2.3B $3B $5B Market Penetration ~65% ~45% <5% ~40% ~35% ~50% <15
Slide 8: Key additions to the Precise Oncology Solutions portfolio
Key additions to the Precise Oncology Solutions portfolio, set stage for MRD launch to follow Expected strategic value of Precise Tumor & Precise Liquid Oncology • A successful Oncology franchise will help medical oncologist select treatments for their patients • Precise Tumor will complement MyChoi
Slide 9: Acquired Intermountain Precision Genomics' laboratory, Precise Tumor and Precise Liquid
Acquired Intermountain Precision Genomics' laboratory, together with Precise Tumor and Precise Liquid Q2 Transition Planning - • Start to move non-production equipment Q4 - Move Precise Tumor Jan 18th • Improving processes and tech production to Salt Lake Deal Announced applications Campus West Q1 Q
Slide 10: Pillars of long-term growth and profitability
Pillars of long-term growth and profitability Science and innovation Top-tier science delivering products Elevated customer experience that are clinically validated and demonstrate proven utility (quality, and commercial execution access and cost) in real world Strong digitally enabled clinical sett
Slide 11: Mark Verratti, Chief Commercial Officer
Mark Verratti Chief Commercial Officer ©2024 Myriad Genetics, Inc. 11
Slide 12: 3 focus areas: Oncology, Women's Health and Pharmacogenomics
3 focus areas: Oncology, Women's Health and Pharmacogenomics Oncology Women’s Health Pharmacogenomics Clarifying cancer treatment with genetic and A leader in health and wellness with Using genetic insights to help genomic insights and companion diagnostic differentiated genetic insights for women p
Slide 13: Double digit growth across all core products in 2023
Double digit growth across all core products in 2023 All Figures in thousands, Reflect Global sales +17% 2023 2023 Volume LTM Growth Volume (YOY) Growth (YOY) 125 +24% 2023 2023LTM Volume Volume Growth(YOY) Growth (YOY) 115 65 105 95 55 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 85 Q4 '22 Q1 '23 Q2 '23 Q3 '
Slide 14: Enterprise Commercial Transformation Progress: 2020 - 2023
Enterprise Commercial Transformation Progress: 2020 - 2023 Focus areas What great looks like Product Management Customer Targeting Commercial Overall Overall Transformation Process & Segmentation Tech & Analytics Product Product Management • Constant product & experience improvement to drive demand
Slide 15: Pharmacogenomics: GeneSight adoption and awareness continues to grow
GeneSight adoption and awareness Pharmacogenomics continues to grow Operating results Quarterly highlights • Added 4,000+ clinicians who ordered ~116k GeneSight for the first time in Q4 ‘23 Q4 ‘23 volume • Q4 ’23 multiple presentations at conferences such as American College of Neuropsychopharmacolo
Slide 16: Women's Health: MyRisk Hereditary Cancer and Prenatal volume momentum
Strong MyRisk Hereditary Cancer and Women’s Health Prenatal volume momentum going into 2024 Operating results Quarterly highlights ~191k • Quarterly volumes increased 25% compared to the fourth quarter of 2022 Q4 ‘23 volume • Continued progress in large customer channel (e.g. SimonMed and Onsite) $8
Slide 17: Oncology: MyRisk momentum continues into 2024
MyRisk momentum continues into 2024 Oncology Operational results Quarterly highlights ~53k • Acquired Precise Tumor, Precise Liquid, and CLIA-certified laboratory from Q4 ‘23 volume Intermountain Precision Genomics • Appointed George Daneker Jr., MD, as President & Chief Clinical Officer of $80.2 mi
Slide 18: 3-year product roadmap summary
3-year product roadmap summary 2023 2024E 2025E Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Tyrer-Cuzick v8 Q3 MyRisk patient portal Q4 MyRisk Panel expansion 2H ARR Q3 3-year Mets Study Q4 Foresight Universal Plus Q3 Validation Study Q3 Full Launch 1H Launch Q3 RUO (Research Only) Pharma Availability Q3 Co
Slide 19: Active expansion of high-quality testing pipeline
Active expansion of high-quality testing pipeline, addressing real-world community needs Women’s Health Oncology FirstGene Foresight Precise Tumor Precise Liquid Precise MRD Multiple prenatal screening Expanded carrier screen Robust tumor profiling Robust tumor profiling Molecular residual & therapy
Slide 20: Sam Raha, Chief Operating Officer
Sam Raha Chief Operating Officer ©2024 Myriad Genetics, Inc. 20
Slide 21: Strategic Enterprise Measures to drive long-term, healthy growth
Strategic Enterprise Measures to drive long-term, healthy growth • Employee engagement • External customer NPS • Employee turnover • Average turnaround time Quality People • Diversity • Number of nonconformances • Demand • COGs per test Productivity • Total providers • OPEX as a % of revenue Growth
Slide 22: 2023 Operational highlights fueling our growth
2023 Operational highlights fueling our growth Market Perception and Team Engagement Customer Service Levels Efficiency & Speed Revenue Cycle 70 6.0 days +$45M Net Promoter Score among Rapid turn-around times critical Revenue in excess of expectations current Myriad providers ordering for patients m
Slide 23: Improving the patient and provider experience
Improving the patient and provider experience Myriad aims to simplify and streamline the genetic screening and testing process. It respects patient privacy, is easy to implement, and provides support at every step. Top 5 Dx test provider requirements Strong clinical validity and utility Patient ID t
Slide 24: Underlying capabilities: investing to improve experience along the customer journey
Underlying capabilities: investing to improve experience at every point along the customer journey Outreach & Patient In-take Test Ordering & Lab Testing Patient Care Reimbursement Discovery & Counseling Order Management & Resulting Myriad.com myGene History Cost Estimator Patient MyGene History in
Slide 25: Enterprise infrastructure: investing for flexibility and scale
Enterprise infrastructure: investing for flexibility and scale 2022 2023 2024E 2025E Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Product Platform Prenatal Advanced Sequencing Transitions (Novaseq) MyChoice CDx BRACAnalysis CDx Whole Exome For Oncology and Pharma applications. Q3 South San Franci
Slide 26: Scott Leffler, Chief Financial Officer
Scott Leffler Chief Financial Officer ©2024 Myriad Genetics, Inc. 26
Slide 27: Hereditary cancer test, Prenatal and GeneSight volumes continue to drive performance
Hereditary cancer test, Prenatal and GeneSight volumes continue to drive performance in 2023 Select test volume and growth rates All figures in thousands, except growth rates Hereditary Cancer Prenatal* Pharmacogenomics Hereditary cancer testing (HCT) highlights: 450 450 450 Sixth consecutive quarte
Slide 28: 2023 financial progression by quarter
2023 financial progression by quarter All figures in millions, except per share amounts and percentages Total revenue Adjusted Gross Margin* Adjusted Operating Expense* Adjusted EPS* Full Year 2023 OpEx as a % of total revenue decreased (YOY) +11% YOY Full Year 2023 72% 70.1% 70.4% 300 bps $0.00 0.0
Slide 29: Exceeded 2023 revenue guidance and on-target for adjusted EPS
Exceeded 2023 revenue guidance and on-target for adjusted EPS All figures in millions, except per share amounts 2023 FINANCIAL GUIDANCE* 2023 REPORTED 2023 COMMENTS (as of Feb 28, 2023) (as of Feb 27, 2024) Achieved high end of annual range (and above Total revenue $720 - $750 $753 initial guidance
Slide 30: Raising 2024 revenue guidance; introducing adjusted EBITDA and EPS
Raising 2024 revenue guidance; introducing adjusted EBITDA and EPS All figures in millions, except per share amounts and percentages EXPECTED 2024 FINANCIAL GUIDANCE YEAR-OVER-YEAR CHANGE 2024 COMMENTS Raised 2024 revenue guidance range by $5 million for the full year. Total revenue $820 - $840 9% -
Slide 31: Well positioned to take advantage of future market opportunities
Well positioned to take advantage of future market opportunities Annual revenue growth expected Raised 2024 full-year revenue guidance to $820 - $840 million to accelerate to 10%+ in ‘24–‘26 reflecting expected annual growth of 9-11% over 2023 Right to win with core products Enhanced commercial exec
Slide 32: Q&A
Q&A ©2024 Myriad Genetics, Inc. 32
Slide 33: Appendix
Appendix ©2024 Myriad Genetics, Inc. 33
Slide 34: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2023 and 2022 (unaudited data in millions, except percentages) ©2024 Myriad Genetics, Inc. 34
Slide 35: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2023 and 2022 (unaudited data in millions, except per share amounts) ©2024 Myriad Genetics, Inc. 35
Slide 36: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2023 and 2022 (unaudited data in millions) ©2024 Myriad Genetics, Inc. 36
Slide 37: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months ended December 31, 2023 and 2022 Following is a description of the adjustments made to GAAP financial measures: • Acquisition – amortization of intangible assets – represents recurring amortization charges resultin