Myriad Genetics (MYGN) Goldman Sachs 45th Annual Global Healthcare Conference summary

Business performance and growth

• Achieved 12% organic revenue growth in Q1, with strong ASP and cost management, building on momentum from previous years.

• Growth is broad-based across women's health, oncology, and mental health, with differentiated products and expanding use cases.

• Market share gains are emerging in hereditary cancer and prenatal segments, aided by competitor exits and industry consolidation.

• No significant pricing pressure from payers recently, contributing to ASP stability and incremental lifts.

• Focus remains on profitable growth, with no immediate plans to expand the salesforce, but increased productivity through digital tools.

Revenue cycle management and operating leverage

• Revenue cycle management improvements have contributed to higher ASP and reduced no-pay rates, with significant runway remaining.

• Every 1% improvement in no-pay rate adds $8 million to the bottom line, making this a high priority.

• Operating leverage achieved through disciplined cost control, automation, and technology investments, allowing for margin expansion.

• Adjusted EBITDA guidance for 2024 set at $20–$30 million, reflecting progress in profitability.

• Cost per test reduced by 8% last year, with further gains expected from automation and unified order management systems.

Product innovation and market strategy

• Launched Foresight Universal Plus, anticipating expanded ACOG guidelines and preparing for rapid payer engagement.

• Investments in R&D and technology target clinical evidence generation, EMR integration, and product differentiation.

• MRD product built on a differentiated platform, aiming for high sensitivity, specificity, and competitive unit economics.

• Commercial infrastructure is scalable, supporting new product launches without significant increases in spend.

• Focused on maximizing the potential of existing products rather than pursuing large acquisitions.