On June 30, 2023, MYRIAD GENETICS ($NASDAQ:MYGN) reported its earnings results for the second quarter of FY2023. Total revenue for the quarter amounted to USD 183.5 million, a 2.3% increase compared to the same period in FY2022. In contrast, the net income for the quarter was USD -116.1 million, a decrease of -14.1 million from the same period in the prior year.
On Thursday, MYRIAD GENETICS reported strong Q2 earnings for FY2023. The company’s stock opened at $21.3 and closed at $20.8, down 2.5% from the prior closing price of 21.3. The company has seen a continued growth in revenue and profits due to its innovative products that are helping to revolutionize precision medicine. MYRIAD GENETICS’s flagship product, MyriadPro, is being used by hospitals and healthcare providers around the world, providing advanced genetic analysis for personalized patient care.
Revenue is expected to continue to increase as the company expands its offerings into new markets. With the continued development of innovative products and expansion into new markets, MYRIAD GENETICS is well-positioned to capitalize on future growth opportunities. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Myriad Genetics. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
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Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Myriad Genetics. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Myriad Genetics are shown below. More…
Income Statement Ratios
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Specifically, when looking at the income sheet, balance sheet, and non financial aspects, we identified three risk warnings. If you’re interested in learning more about these risks, register with us today. More…
Risk Rating Analysis
Star Chart Analysis
Myriad Genetics Inc is facing intense competition from BCAL Diagnostics Ltd, Inoviq Ltd, and Exagen Inc in the field of molecular diagnostics. Each of these companies offers innovative products and services, and is striving to gain a competitive edge in the market. As a result, Myriad Genetics Inc is under constant pressure to develop and deliver better products to stay ahead of the competition.
– BCAL Diagnostics Ltd ($ASX:BDX)
Inoviq Ltd is a leading provider of medical and healthcare products. Its market cap of 59.81M as of 2022 indicates that the company is growing steadily and is well-positioned in the market. Its Return on Equity (ROE) of -13.77% suggests that the company is making investments that have yet to yield a positive return. The company’s goal is to continue to develop innovative products and services that will improve patient outcomes and enhance the quality of life. Inoviq Ltd is a leader in the medical and healthcare industry and its market cap and ROE are both indicators of its success.
Exagen Inc is a biotechnology company that focuses on developing and commercializing diagnostic and therapeutic products for autoimmune diseases. The company’s market cap as of 2022 is 39.49M, which means that the value of the company is determined by the current market price of its shares. The Return on Equity (ROE) is -38.89%, indicating that the company is not generating a return on investments it made in its business operations. This suggests that the company may need to reevaluate its strategies in order to become more profitable and increase shareholder value.
MYRIAD GENETICS reported its earnings for the second quarter of FY2023, showing total revenue of USD 183.5 million, representing a 2.3% increase from the same period of the prior year. Net income for the quarter was USD -116.1 million, 14.1 million less than the same period of the prior year. Investors looking to invest in MYRIAD GENETICS should consider these financials and analyze how they compare to other similar companies. Analyzing the company’s cash flows, cost structure, and business strategy can provide insight into future performance and help investors make informed decisions about their investments.