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Myriad Genetics Q1 2025: Contradictions Unraveled on GeneSight Performance, Oncology Focus, and EMR Integration
Generated by AI AgentEarnings Decrypt
Tuesday, May 13, 2025 4:41 am ET1min read
None
Revenue Decline and Strategic Adjustments:
- reported a decline in revenue by 3% year-over-year in Q1 2025, representing a significant drop from their targets.
- This decline was attributed to underperformance in GeneSight and myRisk for unaffected individuals, impacted by policy changes and slower-than-expected ramp in system integrations.
Prenatal and Onco Segment Growth:
- The prenatal testing revenue grew by 11% year-over-year, driven by deeper sales into existing accounts and new account wins, particularly with the launch of Prequel at 8 weeks gestational age.
- segment, particularly myRisk, showed 11% year-over-year growth in test volume, highlighting the strength in their hereditary cancer testing offerings.
GeneSight Challenges and Guidance Adjustments:
- GeneSight revenue declined by 20% year-over-year primarily due to the impact of UnitedHealthcare's coverage policy change, affecting $10 million in revenue.
- The company updated its 2025 financial guidance, reducing annual revenue by $35 million and OpEx by $25 million, reflecting the expected softer volume and reduced commercial resources.
Strategy and Leadership Changes:
- Sam Raha, the new President and CEO, emphasized the need for a strategy that drives profitable growth and market share, focusing on oncology as the cornerstone of Myriad's operations.
- The company is conducting a strategy refresh, aiming to simplify the narrative and prioritize efforts that enable predictable, profitable growth.
Revenue Decline and Strategic Adjustments:
- reported a decline in revenue by 3% year-over-year in Q1 2025, representing a significant drop from their targets.
- This decline was attributed to underperformance in GeneSight and myRisk for unaffected individuals, impacted by policy changes and slower-than-expected ramp in system integrations.
Prenatal and Onco Segment Growth:
- The prenatal testing revenue grew by 11% year-over-year, driven by deeper sales into existing accounts and new account wins, particularly with the launch of Prequel at 8 weeks gestational age.
- segment, particularly myRisk, showed 11% year-over-year growth in test volume, highlighting the strength in their hereditary cancer testing offerings.
GeneSight Challenges and Guidance Adjustments:
- GeneSight revenue declined by 20% year-over-year primarily due to the impact of UnitedHealthcare's coverage policy change, affecting $10 million in revenue.
- The company updated its 2025 financial guidance, reducing annual revenue by $35 million and OpEx by $25 million, reflecting the expected softer volume and reduced commercial resources.
Strategy and Leadership Changes:
- Sam Raha, the new President and CEO, emphasized the need for a strategy that drives profitable growth and market share, focusing on oncology as the cornerstone of Myriad's operations.
- The company is conducting a strategy refresh, aiming to simplify the narrative and prioritize efforts that enable predictable, profitable growth.
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