Myriad Genetics ( (MYGN) ) has released its Q4 earnings. Here is a breakdown of the information Myriad Genetics presented to its investors.
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Myriad Genetics, a leader in genetic testing and precision medicine, specializes in molecular diagnostic tests that assess disease risk and guide treatment decisions across various medical specialties. The company reported an 11% increase in full-year 2024 revenue, reaching $838 million, marking its second consecutive year of double-digit growth. Key highlights include a 7% year-over-year revenue growth in the fourth quarter, driven by strong demand in pharmacogenomics and prenatal testing, and a strategic collaboration with PATHOMIQ to enhance its oncology portfolio with AI technology. Despite a GAAP net loss of $127 million for the year, Myriad Genetics achieved an adjusted EBITDA of $40 million, reflecting its ongoing investment in research and development. Looking ahead, Myriad Genetics reiterates its 2025 financial guidance with expected revenue growth and plans to continue investing in innovative solutions to advance health and well-being, under the new leadership of incoming CEO Sam Raha.