MYGNMYRIAD GENETICS INC

In Vitro & In Vivo Diagnostic Substances

Revenue: $825M; 1.6% YoY
Operating margin: -47.0%; 219% YoY
EBITDA: −$334M; 435% YoY
Market cap: $607M
Employees: 2,700; $305K revenue each
Net debt / EBITDA: —; $6M net debt
AI in 10-K: 4.9; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 1 of 7

TSR below peersYes
3 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
$12M median
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCNo
4% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
7% of assets
Over 40% of assets
Shareholder dissentNo
95% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
$305K · 44th pct
Bottom quartile of its SIC industry
Quiet on AINo
4.9 per 10K words · 83rd pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$607M market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$655K net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$691M	$678M	$753M	$838M	$825M	1.6%
Operating income	−$191M	−$141M	−$257M	−$124M	−$387M	214%
Net income	−$27M	−$112M	−$263M	−$127M	−$366M	188%
Operating cash flow	$19M	−$106M	−$111M	−$9M	$2M	121%
Capex	$18M	$45M	—	—	—
Stock-based comp	$36M	$38M	$41M	$50M	$35M	29%
Buybacks	$0	—	—	—	—

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $722K · 5
Open-market sells, 12 mo: $67K · 1
Net: $655K

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	—	—	31	125
FY2024	$14M	$7M	69	93
FY2023	$12M	$14M	97	94
FY2022	$11M	−$4M	73	90
FY2021	$13M	$30M	140	100