Myriad Genetics, Inc. (NASDAQ:MYGN) Q3 2023 Earnings Conference Call November 6, 2023 4:30 PM ET

Company Participants

Matt Scalo - Senior Vice President, Investor Relations

Paul Diaz - President and Chief Executive Officer

Mark Verratti - Chief Commercial Officer

Bryan Riggsbee - Chief Financial Officer

Conference Call Participants

Elizabeth Koslosky - Goldman Sachs

Andrew Cooper - Raymond James

Daniel Sammarco - TD Cowen

Jack Meehan - Nephron Research

Wolf Chanoff - Bank of America

Matt Scalo

Good afternoon and welcome to Myriad Genetics Third Quarter 2023 Earnings Call. During the call, we will review the financial results we released today. And afterwards, we will host a question-and-answer session. Our quarterly earnings release was issued this afternoon on Form 8-K and can be found on our website at investor.myriad.com.

I'm Matt Scalo, Senior Vice President of Investor Relations. On the call with me today are Paul Diaz, our President and Chief Executive Officer; Bryan Riggsbee, our Chief Financial Officer; and Mark Verratti, our Chief Commercial Officer. This call can be heard live via webcast at investor.myriad.com, and a recording will be archived in the Investors section of our website, along with this slide presentation.

Please note that some of the information presented today contains projections or other forward-looking statements regarding future events or the future financial performance of the company. These statements are based on management's current expectations, and the actual events or results may differ materially and adversely from these expectations for a variety of reasons. We refer you to the documents the company files from time to time with the Securities and Exchange Commission, specifically the company's annual report on Form 10-K, its quarterly reports on Form 10-Q and its current reports on Form 8-K. These documents identify important risk factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.

With that, I'll now turn the call over to Paul.

Paul Diaz

Thanks, Matt. Good afternoon, everyone, and thank you for joining us. On today's call, we will discuss highlights from our strong third quarter performance and provide an update on the progress we continue to make accelerating revenue growth on our path to profitability.

First, I'd like to take a moment to reflect on the great work that the team has done to reposition the company over the last 3 years. Like many early entrants to a new market, Myriad Genetics relied on its early successes, but failed to adapt to evolving market conditions. This created overhangs in the business and complexity that inhibited growth and innovation. Unfortunately, misguided product development, the poor integration of acquisitions, outdated technologies, deteriorating facilities and litigation also rode the brand.