Myriad Genetics (MYGN) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	0-26642
Entity Registrant Name	MYRIAD GENETICS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0494517
Entity Address, Address Line One	320 Wakara Way
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84108
City Area Code	801
Local Phone Number	584-3600
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	MYGN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		81,555,161
Amendment Flag	false
Entity Central Index Key	0000899923
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 53.6	$ 56.9
Marketable investment securities	25.1	58
Trade accounts receivable	119.1	101.6
Inventory	21.8	20.1
Prepaid taxes	17.6	17.6
Prepaid expenses and other current assets	24.4	20.4
Total current assets	261.6	274.6
Operating lease right-of-use assets	107	103.9
Long-term marketable investment securities	30.4	54.8
Property, plant, and equipment, net	96.3	83.4
Intangibles, net	369.4	379.7
Goodwill	287.1	286.8
Other assets	17.5	15.5
Total assets	1,169.3	1,198.7
Current liabilities:
Accounts payable	36.5	28.8
Accrued liabilities	91.7	94.3
Current maturities of operating lease liabilities	15.1	14.1
Total current liabilities	143.3	137.2
Unrecognized tax benefits	28.7	26.8
Long-term deferred taxes	4.1	3.5
Noncurrent operating lease liabilities	146.5	130.9
Other long-term liabilities	11.5	14.5
Total liabilities	334.1	312.9
Commitments and contingencies
Stockholders’ equity:
Common stock, 81.5 million and 81.2 million shares outstanding at March 31, 2023 and December 31, 2022, respectively	0.8	0.8
Additional paid-in capital	1,262.7	1,260.1
Accumulated other comprehensive loss	(7.4)	(8.9)
Accumulated deficit	(420.9)	(366.2)
Total stockholders' equity	835.2	885.8
Total liabilities and stockholders’ equity	$ 1,169.3	$ 1,198.7

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares shares in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, shares outstanding (shares)	81.5	81.2	80.3	80

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Total revenue	$ 181.2	$ 164.9
Costs and expenses:
Cost of testing revenue	59.2	48
Research and development expense	22.5	21.2
Selling, general, and administrative expense	151.7	110.6
Goodwill and long-lived asset impairment charges	0	10.7
Total costs and expenses	233.4	190.5
Operating loss	(52.2)	(25.6)
Other income (expense):
Interest income	0.7	0.1
Interest expense	(0.5)	(0.9)
Other	(0.6)	0
Total other expense, net	(0.4)	(0.8)
Loss before income tax	(52.6)	(26.4)
Income tax expense (benefit)	2.1	(5.9)
Net loss	$ (54.7)	$ (20.5)
Net loss per share:
Basic (dollars per share)	$ (0.67)	$ (0.26)
Diluted (dollars per share)	$ (0.67)	$ (0.26)
Weighted average shares outstanding:
Basic (shares)	81.3	80.1
Diluted (shares)	81.3	80.1
Revenue from contract with customer, product and service, extensible enumeration	Testing [Member]	Testing [Member]
Cost, product and service, extensible enumeration	Testing [Member]	Testing [Member]

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (54.7)	$ (20.5)
Change in unrealized loss on available-for-sale debt securities, net of tax	1.2	(1.3)
Change in foreign currency translation adjustment, net of tax	0.3	(1.2)
Comprehensive loss	$ (53.2)	$ (23)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive loss	Accumulated deficit
Beginning balance at Dec. 31, 2021	$ 967.8	$ 0.8	$ 1,226.3	$ (5.1)	$ (254.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock-based compensation plans, net of shares exchanged for withholding tax	(4.8)		(4.8)
Stock-based payment expense	10.1		10.1
Net loss	(20.5)				(20.5)
Other comprehensive loss, net of tax	(2.5)			(2.5)
Ending balance at Mar. 31, 2022	950.1	0.8	1,231.6	(7.6)	(274.7)
Beginning balance at Dec. 31, 2022	885.8	0.8	1,260.1	(8.9)	(366.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock-based compensation plans, net of shares exchanged for withholding tax	(4.9)		(4.9)
Stock-based payment expense	7.5		7.5
Net loss	(54.7)				(54.7)
Other comprehensive loss, net of tax	1.5			1.5
Ending balance at Mar. 31, 2023	$ 835.2	$ 0.8	$ 1,262.7	$ (7.4)	$ (420.9)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (54.7)	$ (20.5)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	19.4	13
Non-cash interest expense	0.3	0.2
Non-cash lease expense	2.9	3.1
Tenant improvement allowance received	13.2	0
Stock-based compensation expense	7.5	10.1
Deferred income taxes	0.1	(5.9)
Unrecognized tax benefits	1.9	0.2
Net realized losses on marketable investment securities	0.5	0
Impairment of goodwill and long-lived assets	0	10.7
Changes in assets and liabilities:
Prepaid expenses and other current assets	(4)	(3)
Trade accounts receivable	(17.5)	(10.5)
Inventory	(1.7)	(0.2)
Prepaid taxes	0	(0.4)
Other assets	(2.3)	(0.3)
Accounts payable	7.6	(3.2)
Accrued expenses and other liabilities	(6.5)	(35.3)
Deferred revenues	0.1	(4.5)
Net cash used in operating activities	(33.2)	(46.5)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(23.5)	(6.3)
Purchases of marketable investment securities	0	(52.1)
Proceeds from maturities and sales of marketable investment securities	58.1	17.1
Net cash provided by (used in) investing activities	34.6	(41.3)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from common stock issued under stock-based compensation plans	0	0.3
Payment of tax withheld for common stock issued under stock-based compensation plans	(4.9)	(5.1)
Net cash used in financing activities	(4.9)	(4.8)
Effect of foreign exchange rates on cash, cash equivalents, and restricted cash	0.2	(0.6)
Net decrease in cash, cash equivalents, and restricted cash	(3.3)	(93.2)
Cash, cash equivalents, and restricted cash at beginning of the period	66.4	258.8
Cash, cash equivalents, and restricted cash at end of the period	$ 63.1	$ 165.6

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Myriad Genetics, Inc. (together with its subsidiaries, the “Company” or “Myriad”) is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad provides insights that help people take control of their health and enable healthcare providers to better detect, treat, and prevent disease. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower health care costs. The Company currently operates as a single reporting segment. The Company’s principal executive office is located in Salt Lake City, Utah. The accompanying Condensed Consolidated Financial Statements for the Company have been prepared in accordance with United States ("U.S.") generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with GAAP. The Condensed Consolidated Financial Statements herein should be read in conjunction with the Company’s audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “Form 10-K”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The Company has historically experienced seasonality in its business. In the quarter ended March 31, the Company has typically experienced a decrease in volumes due to the annual reset of patient deductibles; however, for the three months ended March 31, 2023, the Company experienced an increase sequentially in volumes across its Prenatal, Pharmacogenomics, and Tumor Profiling products. Additionally, the volume of testing is negatively impacted by the summer season, which is generally reflected in the quarter ended September 30. The volume of testing in the quarter ended December 31 is generally strong as the Company typically experiences an increase in volumes from patients who have met their annual insurance deductible. Historical patterns of seasonality may not continue in future periods. Additionally, operating results for the three months ended March 31, 2023 may not necessarily be indicative of results to be expected for any other interim period or for the full year.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The Company primarily generates revenue by performing genetic testing. Testing revenues are primarily derived from the following categories of products: Hereditary Cancer (myRisk, BRACAnalysis, BRACAnalysis CDx), Tumor Profiling (MyChoice CDx, Prolaris, and EndoPredict), Prenatal (Foresight, Prequel, and SneakPeek), and Pharmacogenomics (GeneSight). Revenue is recorded at the estimated transaction price. The Company has determined that the communication of test results indicates transfer of control for revenue recognition purposes. The following table presents detail regarding the composition of the Company’s total revenue by product type and by geographical region, either U.S. or rest of world (“RoW”): Three months ended March 31, 2023 2022 (in millions) U.S. RoW Total U.S. RoW Total Testing revenues: Hereditary Cancer $ 64.0 $ 11.7 $ 75.7 $ 60.7 $ 10.2 $ 70.9 Tumor Profiling 28.8 8.5 37.3 19.7 12.8 32.5 Prenatal 36.0 0.2 36.2 31.7 0.2 31.9 Pharmacogenomics 32.0 — 32.0 29.3 — 29.3 Other — — — 0.3 — 0.3 Total revenue $ 160.8 $ 20.4 $ 181.2 $ 141.7 $ 23.2 $ 164.9 Under ASC 606, Revenue from Contracts with Customers ("ASC 606"), an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company performs its obligation under a contract with a customer by processing tests and communicating the test results to customers, in exchange for consideration from the customer. The Company has the right to bill its customers upon the completion of performance obligations and thus does not record contract assets. Occasionally, customers make payments prior to the Company’s performance of its contractual obligations. When this occurs, the Company records a contract liability as Deferred revenue, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets. In accordance with ASC 606, the Company has elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its contracts that are one year or less, as the revenue is expected to be recognized within the next year. Furthermore, the Company has elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its agreements wherein the Company’s right to payment is in an amount that directly corresponds with the value of the Company’s performance to date. In determining the transaction price, the Company includes an estimate of the expected amount of consideration as revenue. The Company applies this method consistently for similar contracts when estimating the effect of any uncertainty on an amount of variable consideration to which it will be entitled. An estimate of transaction price does not include any estimated amount of variable consideration that is constrained. In addition, the Company considers all the information (historical, current, and forecast) that is reasonably available to identify possible consideration amounts. In determining the expected value, the Company considers the probability of the variable consideration for each possible scenario. The Company also has significant experience with historical discount patterns and uses this experience to estimate transaction prices. The estimate of revenue is affected by assumptions in payor behavior such as changes in payor mix, payor collections, current customer contractual requirements, and experience with collections from third-party payors. When assessing the total consideration for insurance carriers and patients, revenues are further constrained for estimated refunds. The Company reserves certain amounts in Accrued liabilities in the Company’s Condensed Consolidated Balance Sheets in anticipation of requests for refunds of payments made previously by insurance carriers, which are accounted for as reductions in revenues in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Cash collections for certain tests delivered may differ from rates estimated, primarily driven by changes in the estimated transaction price due to contractual adjustments, obtaining updated information from payors and patients that was unknown at the time the performance obligation was met, and settlements with third party payors. As a result of this new information, the Company updates its estimate of the amounts to be recognized for previously delivered tests, the impact of which was not material to the Company's Condensed Consolidated Statements of Operations for the three months ended March 31, 2023. During the three months ended March 31, 2022, the Company recognized $12.4 million in revenue, which resulted in a $0.12 impact to earnings per share, for tests in which the performance obligation of delivering test results was met in prior periods primarily driven by changes in the estimated transaction price. The Company applies the practical expedient related to costs to obtain or fulfill a contract since the amortization period for such costs will be one year or less. Accordingly, no costs incurred to obtain or fulfill a contract have been capitalized. The Company also applies the practical expedient for not adjusting revenue recognized for the effects of the time value of money. This practical expedient has been elected because the Company collects very little cash from customers under payment terms and the vast majority of payment terms have a payback period of less than one year. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Substantially all of the Company’s accounts receivable are with companies in the healthcare industry, U.S. and state governmental agencies, and individuals. The Company does not believe that receivables due from U.S. and state governmental agencies, such as Medicare, represent a credit risk since the related healthcare programs are funded by the U.S. and state governments. The Company only has one payor, Medicare, that represents greater than 10% of its revenues. Revenues received from Medicare represented 11% and 13% of total revenue for the three months ended March 31, 2023 and March 31, 2022, respectively. Concentrations of credit risk are mitigated due to the number of the Company’s customers as well as their dispersion across many geographic regions. No payor accounted for more than 10% of accounts receivable at March 31, 2023 or December 31, 2022. The Company does not require collateral from its customers.

MARKETABLE INVESTMENT SECURITIE

MARKETABLE INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
MARKETABLE INVESTMENT SECURITIES	MARKETABLE INVESTMENT SECURITIES The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at March 31, 2023 and December 31, 2022 were as follows: (in millions) Amortized Gross Gross Estimated March 31, 2023 Cash and cash equivalents: Cash $ 51.9 $ — $ — $ 51.9 Cash equivalents 1.7 — — 1.7 Total cash and cash equivalents 53.6 — — 53.6 Available-for-sale: Corporate bonds and notes 29.3 — (0.9) 28.4 Municipal bonds 8.7 — (0.1) 8.6 Federal agency issues 14.5 — (0.4) 14.1 U.S. government securities 4.5 — (0.1) 4.4 Total $ 110.6 $ — $ (1.5) $ 109.1 (in millions) Amortized Gross Gross Estimated December 31, 2022 Cash and cash equivalents: Cash $ 53.6 $ — $ — $ 53.6 Cash equivalents 3.3 — — 3.3 Total cash and cash equivalents 56.9 — — 56.9 Available-for-sale: Corporate bonds and notes 66.7 — (1.6) 65.1 Municipal bonds 16.3 — (0.3) 16.0 Federal agency issues 20.7 — (0.7) 20.0 U.S. government securities 11.8 — (0.1) 11.7 Total $ 172.4 $ — $ (2.7) $ 169.7 Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities were as follows at March 31, 2023: (in millions) Amortized Estimated Cash $ 51.9 $ 51.9 Cash equivalents 1.7 1.7 Available-for-sale: Due within one year 25.4 25.1 Due after one year through five years 31.6 30.4 Due after five years — — Total $ 110.6 $ 109.1 The Company does not intend to sell these available-for-sale debt securities, and it is not more likely than not that the Company will be required to sell these securities prior to recovery of their amortized cost basis. Additional information relating to fair value of marketable investment securities can be found in Note 4.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The fair value of the Company’s financial instruments reflects the amounts that the Company estimates it will receive in connection with the sale of an asset or pay in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The fair value hierarchy prioritizes the use of inputs used in valuation techniques into the following three levels: Level 1—quoted prices in active markets for identical assets and liabilities. Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Some of the Company’s marketable securities primarily utilize broker quotes in a non-active market for valuation of these securities. Level 3—unobservable inputs. All of the Company’s financial instruments are valued using quoted prices in active markets or based on other observable inputs. For Level 2 securities, the Company uses a third-party pricing service which provides documentation on an ongoing basis that includes, among other things, pricing information with respect to reference data, methodology, inputs summarized by asset class, pricing application and corroborative information. For Level 3 contingent consideration related to the acquisitions of Sividon Diagnostics GmbH ("Sividon") and Gateway Genomics, LLC ("Gateway"), the Company reassesses the fair value of expected contingent consideration and the corresponding liability each reporting period using the Monte Carlo Method, which is consistent with the initial measurement of the expected contingent consideration liability. This fair value measurement is considered a Level 3 measurement because the Company estimates projections during the expected measurement periods of approximately 12.25 years and 2 years for Sividon and Gateway, respectively, utilizing various potential pay-out scenarios. Probabilities were applied to each potential scenario and the resulting values were discounted using a rate that considers weighted average cost of capital as well as a specific risk premium associated with the riskiness of the contingent consideration itself, the related projections, and the overall business. The contingent consideration liabilities are classified as components of Accrued liabilities and Other long-term liabilities in the Company’s Condensed Consolidated Balance Sheets. Changes to contingent consideration liabilities are reflected in Selling, general and administrative expense in the Company’s Condensed Consolidated Statements of Operations. Changes to the unobservable inputs could have a material impact on the Company’s financial statements. The following table sets forth the fair value of the financial assets and liabilities that the Company re-measures on a regular basis: (in millions) Level 1 Level 2 Level 3 Total March 31, 2023 Money market funds (a) $ 1.7 $ — $ — $ 1.7 Corporate bonds and notes — 28.4 — 28.4 Municipal bonds — 8.6 — 8.6 Federal agency issues — 14.1 — 14.1 U.S. government securities — 4.4 — 4.4 Contingent consideration — — (6.8) (6.8) Total $ 1.7 $ 55.5 $ (6.8) $ 50.4 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest. (in millions) Level 1 Level 2 Level 3 Total December 31, 2022 Money market funds (a) $ 3.3 $ — $ — $ 3.3 Corporate bonds and notes — 65.1 — 65.1 Municipal bonds — 16.0 — 16.0 Federal agency issues — 20.0 — 20.0 U.S. government securities — 11.7 — 11.7 Contingent consideration — — (6.8) (6.8) Total $ 3.3 $ 112.8 $ (6.8) $ 109.3 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest. There was no significant change in the fair value of total contingent consideration between December 31, 2022 and March 31, 2023.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	PROPERTY, PLANT AND EQUIPMENT, NET The property, plant and equipment at March 31, 2023 and December 31, 2022 were as follows: (in millions) March 31, December 31, Leasehold improvements $ 80.4 $ 67.9 Equipment 128.1 124.7 Property, plant and equipment, gross 208.5 192.6 Less accumulated depreciation (112.2) (109.2) Property, plant and equipment, net $ 96.3 $ 83.4 During the three months ended March 31, 2023, the Company incurred $5.7 million of accelerated depreciation of leasehold improvements and equipment in connection with the Company's decision to cease the use of its corporate headquarters in Salt Lake City and transition corporate support operations to its new facility in west Salt Lake City. As the Company expects to recover the carrying value of the related right-of-use assets through the designation of a sub-lessee or new tenant for the facility, the Company has not recognized a loss on the lease as of March 31, 2023. See Note 15 for further discussion. During the three months ended March 31, 2022, the Company ceased the use of certain leased Salt Lake City facilities. As a result, the Company recognized a $2.1 million impairment on the property, plant and equipment associated with the leases, which consisted primarily of leasehold improvements. See Note 15 for further discussion. The Company recorded depreciation during the respective periods as follows: Three months ended (in millions) 2023 2022 Depreciation expense $ 8.7 $ 2.8

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill The following table summarizes the changes in the carrying amount of goodwill for the three months ended March 31, 2023: (in millions) Total Beginning balance $ 286.8 Translation adjustments 0.3 Ending balance $ 287.1 Intangible Assets Intangible assets consist of amortizable assets of developed technologies, customer relationships, and trademarks. The following summarizes the amounts reported as intangible assets: (in millions) Gross Accumulated Net At March 31, 2023 Developed technologies $ 625.6 $ (263.5) $ 362.1 Customer relationships 1.6 (0.1) 1.5 Trademarks 6.1 (0.3) 5.8 Total intangible assets $ 633.3 $ (263.9) $ 369.4 (in millions) Gross Accumulated Net At December 31, 2022 Developed technologies $ 625.0 $ (252.9) $ 372.1 Customer relationships 1.6 — 1.6 Trademarks 6.1 (0.1) 6.0 Total intangible assets $ 632.7 $ (253.0) $ 379.7 The Company recorded amortization expense during the respective periods for these intangible assets as follows: Three months ended (in millions) 2023 2022 Amortization of intangible assets $ 10.7 $ 10.2

ACCRUED LIABILITIES

ACCRUED LIABILITIES	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
ACCRUED LIABILITIES	ACCRUED LIABILITIES The Company's accrued liabilities at March 31, 2023 and December 31, 2022 were as follows: (in millions) March 31, December 31, Employee compensation and benefits $ 39.1 $ 41.2 Accrued taxes payable 4.7 4.8 Refunds payable and reserves 18.5 19.3 Short-term contingent consideration 3.0 — Accrued royalties 5.0 4.8 Other accrued liabilities 21.4 24.2 Total accrued liabilities $ 91.7 $ 94.3

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBTOn December 23, 2016, the Company entered into a senior secured revolving credit facility (the “Facility”) as borrower, with the lenders from time to time party thereto. On July 31, 2018, the Company entered into Amendment No. 1 to the Facility, which effected an “amend and extend” transaction with respect to the Facility by which the maturity date thereof was extended to July 31, 2023 (the "Maturity Date") and the maximum aggregate principal commitment was increased from $300.0 million to $350.0 million. On May 1, 2020, the Company entered into Amendment No. 2 to the Facility, which waived the Company’s compliance with certain covenants and modified the interest rate and other terms during the modification period from March 31, 2020 through June 30, 2021 (as modified, the “Modification Period”). This amendment included a modification to the leverage covenant and the interest coverage ratio covenant, which were waived through March 31, 2021, as well as revisions to certain negative covenants of the Facility during the Modification Period. On February 22, 2021, the Company entered into Amendment No. 3 to the Facility, which waived compliance with the leverage ratio and the interest coverage ratio covenants through the quarter ended March 31, 2022 and also lowered the minimum liquidity covenant (which was added by Amendment No. 2) to $150 million, and made it applicable through such quarter. Amendment No. 3 also restricted the Company from borrowing under the Facility if unrestricted cash, cash equivalents and marketable investment securities exceed $150.0 million, unless such borrowings are in connection with permitted acquisitions, decreased the maximum aggregate principal commitment from $350.0 million to $300.0 million, with a further reduction in the maximum aggregate principal commitment from $300.0 million to $250.0 million by September 30, 2021, extended the Modification Period for an additional year through June 30, 2022, and revised certain negative covenants in connection with the extension. The amendments were accounted for as modifications pursuant to guidance in ASC 470-50, Debt. On July 26, 2022, the Company entered into Amendment No. 4 to the Facility (the "Amended Facility"), which extended the Modification Period through the Maturity Date, decreased the maximum aggregate principal commitment from $250.0 million to $200.0 million, with a further reduction to $150.0 million as of December 31, 2022, waived compliance with the leverage ratio and interest coverage ratio covenants through the Maturity Date, and provided for monthly reporting of the Company's liquidity if the total revolving credit exposure is greater than $0, without giving effect to the dollar amount of any letter of credit exposure not in excess of $5.0 million. Covenants in the Amended Facility impose operating and financial restrictions on the Company. These restrictions may prohibit or place limitations on, among other things, the Company’s ability to incur additional indebtedness under the Amended Facility or otherwise, create certain types of liens, and complete mergers, consolidations, or change in control transactions. The Amended Facility may also prohibit or place limitations on the Company’s ability to sell assets, pay dividends or provide other distributions to stockholders. The Amended Facility contains customary loan terms, interest rates, representations and warranties, and affirmative and negative covenants, subject to customary limitations, exceptions and exclusions. The Amended Facility also contains certain customary events of default. Amendment No. 2 modified the Facility to increase the interest rate to be fixed at a spread of LIBOR plus 350 basis points on drawn balances and the undrawn fee was increased to 50 basis points during the Modification Period. Amendment No. 4 replaced the option to make Eurodollar borrowings, which bore interest by reference to the LIBOR rate, with term benchmark loans, which will bear interest by reference to the secured overnight financing rate ("SOFR"). Amendment No. 4 did not modify the applicable margins and undrawn fee amounts. The interest rate for term benchmark loans continues to be fixed at a spread of SOFR plus 350 basis points on drawn balances and undrawn fees continue to be 50 basis points. The SOFR floor was revised to 0.0%. The Company was in compliance with all applicable financial covenants at March 31, 2023. The Company had no outstanding balances under the Amended Facility as of March 31, 2023 and December 31, 2022. The Amended Facility expires on July 31, 2023. There is no guarantee that the Company will be able to replace the Amended Facility or that the Company will be able to secure additional funding or other financing options in a timely manner or on favorable terms, if at all. If the Company is unable to secure additional funding or other financing options when needed or desired, the Company's operations could be negatively impacted in future periods.

OTHER LONG-TERM LIABILITIES

OTHER LONG-TERM LIABILITIES	3 Months Ended
	Mar. 31, 2023
Other Liabilities Disclosure [Abstract]
OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES The Company's other long-term liabilities at March 31, 2023 and December 31, 2022 were as follows: (in millions) March 31, December 31, Contingent consideration $ 3.8 $ 6.8 Other 7.7 7.7 Total other long-term liabilities $ 11.5 $ 14.5

PREFERRED AND COMMON STOCKHOLDE

PREFERRED AND COMMON STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
PREFERRED AND COMMON STOCKHOLDERS' EQUITY	PREFERRED AND COMMON STOCKHOLDERS' EQUITY The Company is authorized to issue up to 5.0 million shares of preferred stock, par value $0.01 per share. There were no shares of preferred stock outstanding at March 31, 2023. The Company is authorized to issue up to 150.0 million shares of common stock, par value $0.01 per share. There were 81.5 million shares of common stock issued and outstanding at March 31, 2023. Shares of common stock issued and outstanding Three months ended (in millions) 2023 2022 Beginning common stock issued and outstanding 81.2 80.0 Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plan 0.3 0.3 Common stock issued and outstanding at end of period 81.5 80.3 Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share is computed based on the weighted-average number of shares of common stock, including the dilutive effect of common stock equivalents, outstanding. In periods when the Company has a net loss, stock awards are excluded from the calculation of diluted net loss per share as their inclusion would have an antidilutive effect. The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations: Three months ended (in millions) 2023 2022 Denominator: Weighted-average shares outstanding used to compute basic EPS 81.3 80.1 Effect of dilutive shares — — Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 81.3 80.1 Certain outstanding options and restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive. These potential dilutive shares of common stock, which may be dilutive to future diluted earnings per share, are as follows: Three months ended (in millions) 2023 2022 Anti-dilutive options and RSUs excluded from EPS computation 5.6 5.5 Stock Repurchase Program In June 2016, the Company’s Board of Directors authorized a share repurchase program of $200.0 million of the Company’s outstanding common stock. The Company may repurchase its common stock from time to time or on an accelerated basis through open market transactions or privately negotiated transactions as determined by the Company's management. The amount and timing of stock repurchases under the program will depend on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. As of March 31, 2023, the Company has $110.7 million remaining under its current share repurchase authorization. No shares were repurchased during the three months ended March 31, 2023 or March 31, 2022 under this authorization.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION On November 30, 2017, the Company’s stockholders approved the adoption of the 2017 Employee, Director and Consultant Equity Incentive Plan (as amended, the “2017 Plan”). The 2017 Plan allows the Company, under the direction of the Compensation and Human Capital Committee (the "CHCC") of the Board of Directors, to make grants of restricted stock and stock unit awards to employees, consultants, and directors. Stockholders have approved amendments to the 2017 Plan increasing the shares available to grant. As of March 31, 2023, the Company has 0.1 million shares of common stock available for grant under the 2017 Plan. If an RSU awarded under the 2017 Plan is cancelled or forfeited without the issuance of shares of common stock, the unissued or reacquired shares that were subject to the RSU will again be available for issuance pursuant to the 2017 Plan. The number of shares, terms, and vesting periods are generally determined by the Company’s Board of Directors or the CHCC on an award-by-award basis. RSUs granted to employees generally vest ratably over three The performance and market conditions associated with PSU awards granted during the three months ended March 31, 2023 include vesting that is based on revenue targets (34% weighting), adjusted earnings per share targets (33% weighting), and relative total stockholder return (33% weighting) measured against the Nasdaq Health Care Index (IXHC) using the 20-trading day averages at the beginning and end of the measurement period. The measurement period for the relative total stockholder return metric is January 1, 2023 through December 31, 2025, and the revenue and adjusted earnings per share metrics will be measured based on fiscal year 2025 results. The Company estimates the likelihood of achievement of performance conditions for all PSU awards at the end of each period. To extent those awards or portions thereof are considered probable of being achieved, such awards or portions thereof are expensed over the performance period. The portion of the awards pertaining to relative total stockholder return represent market conditions and, accordingly, the estimated fair value of such awards are recognized over the performance period. Stock Options A summary of the stock option activity for the three months ended March 31, 2023 is as follows: (number of shares in millions) Number Weighted Options outstanding at December 31, 2022 0.7 $ 13.38 Less: Options exercised — $ — Options canceled or expired — $ — Options outstanding at March 31, 2023 0.7 $ 13.38 Options exercisable at March 31, 2023 0.4 $ 13.38 As of March 31, 2023, there was $0.9 million of total unrecognized stock-based compensation expense related to stock options that will be recognized over a weighted-average period of 1.4 years. There were no options granted during the three months ended March 31, 2023. Restricted Stock Units A summary of the RSU awards activity under the Company’s equity plan and inducement awards, including PSU awards, for the three months ended March 31, 2023 is as follows: (number of shares in millions) Number Weighted RSUs unvested and outstanding at December 31, 2022 3.7 $ 25.08 RSUs granted 1.8 $ 24.19 Less: RSUs vested (0.6) $ 28.07 RSUs canceled — $ 25.42 RSUs unvested and outstanding at March 31, 2023 4.9 $ 24.41 Employee Stock Purchase Plan The Company also has an Employee Stock Purchase Plan that was initially approved by stockholders in 2012 and was amended and approved by the Board of Directors of the Company on September 23, 2021 and the stockholders on June 2, 2022 (the "Amended and Restated 2012 Purchase Plan"), under which 4.0 million shares of common stock were authorized. Shares are issued under the Amended and Restated Purchase Plan twice yearly at the end of each offering period and the number of shares that may be purchased by any participant during an offering period is limited to 5,000 shares. As of March 31, 2023, 1.7 million shares of common stock were available for issuance under the Amended and Restated 2012 Purchase Plan. Stock-Based Compensation Expense Stock-based compensation expense recognized and included in the Condensed Consolidated Statements of Operations and Comprehensive Loss was allocated as follows: Three months ended (in millions) 2023 2022 Cost of testing revenue $ 0.3 $ 0.3 Research and development expense 0.6 2.4 Selling, general, and administrative expense 6.6 7.4 Total stock-based compensation expense $ 7.5 $ 10.1 As of March 31, 2023, there was $95.0 million of total unrecognized stock-based compensation expense related to RSUs that is expected to be recognized over a weighted-average period of

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESIn order to determine the Company’s quarterly provision for income taxes, the Company used an estimated annual effective tax rate that is based on expected annual income and statutory tax rates in the various jurisdictions in which the Company operates. Certain significant or unusual items are separately recognized in the quarter during which they occur and can be a source of variability in the effective tax rate from quarter to quarter.Income tax expense for the three months ended March 31, 2023 was $2.1 million, or approximately (4.0)% of pre-tax loss compared to an income tax benefit of $5.9 million, or approximately 22.3% of pre-tax loss, for the three months ended March 31, 2022. For the three months ended March 31, 2023, the Company’s effective tax rate differs from the U.S. federal statutory rate primarily due to the recognition of valuation allowances. Due to the Company's cumulative loss and the exhaustion of future taxable income from the reversal of taxable temporary differences, the Company's estimated annual effective tax rate for the current year includes a valuation allowance against the majority of the current year increase in deferred tax assets. For the three months ended March 31, 2022, the Company’s effective tax rate differs from the U.S. federal statutory rate primarily due to disallowed executive compensation, disallowed meals and entertainment expenses, stock compensation expenses, and asset impairment expenses.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is involved from time to time in various disputes, claims and legal actions, including class actions and other litigation, including the matters described below, arising in the ordinary course of business. Such actions may include allegations of negligence, product or professional liability or other legal claims, and could involve claims for substantial compensatory and punitive damages or claims for indeterminate amounts of damages. The Company is also involved, from time to time, in investigations by governmental agencies regarding its business which may result in adverse judgments, settlements, fines, penalties, injunctions or other relief. In addition, certain federal and state statutes, including the qui tam provisions of the federal False Claims Act, allow private individuals to bring lawsuits against healthcare companies on behalf of the government or private payors. The Company has received subpoenas from time to time related to billing or other practices based on the False Claims Act or other federal and state statutes, regulations or other laws. The Company intends to defend its current litigation matters, but cannot provide any assurance as to the ultimate outcome or that an adverse resolution would not have a material adverse effect on its financial condition, results of operations or cash flows. The Company assesses legal contingencies to determine the degree of probability and range of possible loss for potential accrual in its financial statements. When evaluating legal contingencies, the Company may be unable to provide a meaningful estimate due to a number of factors, including the proceedings may be in early stages, there may be uncertainty as to the outcome of pending appeals or motions, there may be significant factual issues to be resolved, and there may be complex or novel legal theories to be presented. In addition, damages may not be specified or the damage amounts claimed may be unsupported, exaggerated or unrelated to possible outcomes, and therefore, such amounts are not a reliable indicator of potential liability. As of March 31, 2023, the Company has not recorded any material accrual for loss contingencies associated with legal proceedings or other matters or determined that an unfavorable outcome is probable and reasonably estimable in accordance with ASC 450, Contingencies. However, it is possible that the ultimate resolution of legal proceedings or other matters, if unfavorable, may be material to the Company's results of operations, financial condition or cash flows. Further, in the event that damages from an unfavorable resolution of one or more of these proceedings exceed the aggregate amount of the coverage limits of the Company’s insurance, or if the Company’s insurance carriers disclaim coverage, the amounts payable by the Company could also have a material adverse impact on the Company’s results of operations, financial condition or cash flows. Securities Class Action On September 27, 2019, a class action complaint was filed in the U.S. District Court for the District of Utah against the Company, its former President and Chief Executive Officer, Mark C. Capone, and its Chief Financial Officer, R. Bryan Riggsbee (Defendants). On February 21, 2020, the plaintiff filed an amended class action complaint, which added the Company's former Executive Vice President of Clinical Development, Bryan M. Dechairo, as an additional Defendant. This action, captioned In re Myriad Genetics, Inc. Securities Litigation (No. 2:19-cv-00707-DBB), is premised upon allegations that the Defendants made false and misleading statements regarding the Company's business, operations, and acquisitions. The lead plaintiff seeks the payment of damages allegedly sustained by it and the purported class by reason of the allegations set forth in the amended complaint, plus interest, and legal and other costs and fees. On March 16, 2021, the U.S. District Court for the District of Utah denied the Company's motion to dismiss. On December 1, 2021, the U.S. District Court for the District of Utah granted plaintiff's motion for class certification. The parties currently are engaged in expert discovery. Stockholder Derivative Actions On August 9, 2021, a stockholder derivative complaint was filed in the Delaware Court of Chancery against the Company's former President and Chief Executive Officer, Mark C. Capone, its Chief Financial Officer, R. Bryan Riggsbee, its former Executive Vice President of Clinical Development, Bryan M. Dechairo, and certain of the Company's current and former directors, Lawrence C. Best, Walter Gilbert, John T. Henderson, Heiner Dreismann, Dennis Langer, Lee N. Newcomer, S. Louise Phanstiel, and Colleen F. Reitan (collectively, the Individual Defendants), and the Company, as nominal defendant. The complaint is premised upon similar allegations as set forth in the securities class action, including that the Individual Defendants made false and misleading statements regarding the Company's business and operations. The plaintiff, Donna Hickock, asserts breach of fiduciary duty and unjust enrichment claims against the Individual Defendants and seeks, on behalf of the Company, damages allegedly sustained by the Company as a result of the alleged breaches, or disgorgement or restitution, from each of the Individual Defendants, plus interest. Plaintiff Hickock also seeks legal and other costs and fees relating to this action. On November 19, 2021, this action was stayed by the Delaware Court of Chancery pending the resolution of the securities class action lawsuit. On January 18, 2022, a stockholder derivative complaint was filed in the Delaware Court of Chancery against the Individual Defendants, and the Company, as nominal defendant. The action is premised upon similar allegations as set forth in the securities class action and the Hickock stockholder derivative action. The plaintiff, Esther Kogus, asserts that the Individual Defendants breached their fiduciary duties and also asserts unjust enrichment and aiding and abetting breaches of fiduciary duty claims against the Individual Defendants. Plaintiff Kogus seeks, on behalf of the Company, damages allegedly sustained by the Company as a result of the alleged breaches and claims, and restitution from the Individual Defendants. On behalf of herself, plaintiff Kogus seeks legal and other costs and fees relating to this action. On March 3, 2022, the Delaware Court of Chancery consolidated the Hickock and Kogus derivative actions and stayed the consolidated action. On September 17, 2021, a stockholder derivative complaint was filed in the U.S. District Court in the District of Delaware against the Individual Defendants, and the Company, as nominal defendant. The action is premised upon similar allegations as set forth in the securities class action and Hickock stockholder derivative action. The plaintiff, Karen Marcey, asserts that the Individual Defendants violated U.S. securities laws and breached their fiduciary duties, and also asserts unjust enrichment, waste of corporate assets and insider trading claims against all or some of the Individual Defendants. Plaintiff Marcey seeks, on behalf of the Company, damages allegedly sustained by the Company as a result of the alleged violations and restitution from the Individual Defendants, plus interest and, on behalf of herself, legal and other costs and fees relating to this action. On January 4, 2022, this action was stayed by the U.S. District Court for the District of Delaware pending the resolution of the securities class action lawsuit. Other Legal Proceedings On December 21, 2020, Ravgen, Inc. filed a lawsuit against the Company and its wholly owned subsidiary, Myriad Women's Health, Inc., in the U.S. District Court for the District of Delaware, alleging infringement of two Ravgen-owned patents. The lawsuit seeks monetary damages, enhancement of those damages for willfulness, injunctive relief, and recovery of attorney's fees and costs. Various third parties have filed challenges to the validity of the asserted patents with the U.S. Patent and Trademark Office, which challenges have been instituted for review. On March 14, 2022, the case was stayed pending the outcome of the first of these validity challenges. On February 13, 2023, the court lifted the stay and litigation of the case has resumed. On February 3, 2022, a purported class action lawsuit was filed against the Company in the U.S. District Court in the Northern District of California by Ashley Carroll. Plaintiff alleges, among other things, that the Company made false statements about the accuracy of its Prequel prenatal screening test. The complaint seeks unspecified monetary damages and injunctive relief. On April 1, 2022, the Company filed a motion to dismiss the lawsuit. On May 2, 2022, the plaintiff amended her complaint. On June 2, 2022, the Company filed a motion to dismiss the amended complaint. On July 26, 2022, the court granted and denied in part the Company's motion to dismiss the amended complaint. As part of the court's order, plaintiff was granted leave to file a second amended complaint. The plaintiff filed a second amended complaint on August 16, 2022. On September 6, 2022, the Company filed a motion to dismiss the second amended complaint. On November 9, 2022, the Court granted and denied in part the Company's motion to dismiss the second amended complaint.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The Company's supplemental cash flow information for the three months ended March 31, 2023 and March 31, 2022 are as follows: Three months ended (in millions) 2023 2022 Cash paid for income taxes $ 0.3 $ 0.3 Non-cash investing and financing activities: Establishment of operating lease right-of-use assets and lease liabilities Operating lease right-of-use assets $ 6.0 $ — Operating lease liabilities 6.0 0.8 Tenant improvement allowance not yet received 2.7 — Purchases of property, plant and equipment in accounts payable and accrued liabilities 8.0 0.9 The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the Condensed Consolidated Balance Sheets that agrees to the amounts included in the Condensed Consolidated Statements of Cash Flows. Three months ended (in millions) 2023 2022 Cash and cash equivalents $ 53.6 $ 164.2 Restricted cash 9.5 1.4 Total cash, cash equivalents, and restricted cash $ 63.1 $ 165.6

LEASES

LEASES	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
LEASES	LEASES The Company leases certain office spaces and research and development laboratory facilities, vehicles, and office equipment with remaining lease terms ranging from one The Company has also vacated certain existing facilities. During the three months ended March 31, 2022, the Company ceased the use of one of its leased facilities in Salt Lake City. As a result, the Company recorded an impairment charge on right-of-use assets of $8.6 million and an impairment charge of $2.1 million on the related leasehold improvements. The total $10.7 million impairment is included in Goodwill and long-lived asset impairment charges in the Condensed Consolidated Statements of Operations. During the three months ended March 31, 2023, the Company decided to cease the use of its corporate headquarters in Salt Lake City and transition corporate support operations to its new facility in west Salt Lake City. As the Company expects to recover the carrying value of the related right-of-use assets through the designation of a sub-lessee or new tenant for the facility, the Company has not recognized a loss on the lease as of March 31, 2023. The Company will remain liable for all rent payments until a sub-lessee or new tenant can be found. As of March 31, 2023, except as noted above, the Company expects to continue to occupy our existing facilities until the expiration of the leases.

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
BUSINESS ACQUISITIONS	BUSINESS ACQUISITIONS On November 1, 2022, the Company acquired all of the membership interests of Gateway, a San Diego-based personal genomics company and developer of consumer genetic tests that give families insight into their future children. The acquisition date fair value of the consideration transferred was $68.7 million. The following table summarizes the estimated fair value of identified assets acquired and liabilities assumed at the date of acquisition. (in thousands) Estimated fair value Identifiable assets acquired Current assets $ 1,053 Inventory 1,900 Intangible assets Developed technology 10,100 Trademarks 6,100 Customer relationships 1,600 Total intangible assets 17,800 Other non-current assets 161 Total identifiable assets acquired 20,914 Liabilities assumed Accounts payable (246) Accrued liabilities (693) Total liabilities assumed (939) Net identifiable assets acquired 19,975 Goodwill 48,723 Total fair value of Purchase Price $ 68,698 Pro Forma Information The pro forma results presented below include the effects of Gateway acquisition as if it had been consummated as of January 1, 2022, with adjustments to give effect to pro forma events that are directly attributable to the acquisition, which includes adjustments related to the amortization of acquired intangible assets, interest income and expense, and depreciation. The pro forma results do not reflect any operating efficiency or potential cost savings that may result from the consolidation of Gateway with the Company. Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operation of the combined company would have been if the acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of operations and are not necessarily indicative of results that might have been achieved had the acquisition been consummated as of January 1, 2022. The Company did not have any material, nonrecurring pro forma adjustments directly attributable to the business acquisition included in the reported pro forma earnings. Three Months Ended March 31, 2022 (in thousands) Revenue $ 170,103 Net loss (21,192) Revenue and net loss from Gateway included in the Company's Consolidated Statements of Operations during the three months ended March 31, 2023 is $5.5 million and $(0.6) million, respectively.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The functional currency of the Company’s international subsidiaries is the local currency. For those subsidiaries, expenses denominated in the functional currency are translated into U.S. dollars using average exchange rates in effect during the period and assets and liabilities are translated using period-end exchange rates. The foreign currency translation adjustments are included in Accumulated other comprehensive loss as a separate component of Stockholders’ equity. The following table shows the cumulative translation adjustments included in Accumulated other comprehensive loss (in millions): Ending balance December 31, 2022 $ (6.2) Period translation adjustments 0.3 Ending balance March 31, 2023 $ (5.9)

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying Condensed Consolidated Financial Statements for the Company have been prepared in accordance with United States ("U.S.") generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with GAAP. The Condensed Consolidated Financial Statements herein should be read in conjunction with the Company’s audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “Form 10-K”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period.
Revenue	The Company primarily generates revenue by performing genetic testing. Testing revenues are primarily derived from the following categories of products: Hereditary Cancer (myRisk, BRACAnalysis, BRACAnalysis CDx), Tumor Profiling (MyChoice CDx, Prolaris, and EndoPredict), Prenatal (Foresight, Prequel, and SneakPeek), and Pharmacogenomics (GeneSight). Revenue is recorded at the estimated transaction price. The Company has determined that the communication of test results indicates transfer of control for revenue recognition purposes.Under ASC 606, Revenue from Contracts with Customers ("ASC 606"), an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company performs its obligation under a contract with a customer by processing tests and communicating the test results to customers, in exchange for consideration from the customer. The Company has the right to bill its customers upon the completion of performance obligations and thus does not record contract assets. Occasionally, customers make payments prior to the Company’s performance of its contractual obligations. When this occurs, the Company records a contract liability as Deferred revenue, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets. In accordance with ASC 606, the Company has elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its contracts that are one year or less, as the revenue is expected to be recognized within the next year. Furthermore, the Company has elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its agreements wherein the Company’s right to payment is in an amount that directly corresponds with the value of the Company’s performance to date. In determining the transaction price, the Company includes an estimate of the expected amount of consideration as revenue. The Company applies this method consistently for similar contracts when estimating the effect of any uncertainty on an amount of variable consideration to which it will be entitled. An estimate of transaction price does not include any estimated amount of variable consideration that is constrained. In addition, the Company considers all the information (historical, current, and forecast) that is reasonably available to identify possible consideration amounts. In determining the expected value, the Company considers the probability of the variable consideration for each possible scenario. The Company also has significant experience with historical discount patterns and uses this experience to estimate transaction prices. The estimate of revenue is affected by assumptions in payor behavior such as changes in payor mix, payor collections, current customer contractual requirements, and experience with collections from third-party payors. When assessing the total consideration for insurance carriers and patients, revenues are further constrained for estimated refunds. The Company reserves certain amounts in Accrued liabilities in the Company’s Condensed Consolidated Balance Sheets in anticipation of requests for refunds of payments made previously by insurance carriers, which are accounted for as reductions in revenues in the Condensed Consolidated Statements of Operations and Comprehensive Loss.
Concentration of Credit Risk	Concentration of Credit RiskFinancial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Substantially all of the Company’s accounts receivable are with companies in the healthcare industry, U.S. and state governmental agencies, and individuals. The Company does not believe that receivables due from U.S. and state governmental agencies, such as Medicare, represent a credit risk since the related healthcare programs are funded by the U.S. and state governments.
Fair Value Measurements	The fair value of the Company’s financial instruments reflects the amounts that the Company estimates it will receive in connection with the sale of an asset or pay in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The fair value hierarchy prioritizes the use of inputs used in valuation techniques into the following three levels: Level 1—quoted prices in active markets for identical assets and liabilities. Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Some of the Company’s marketable securities primarily utilize broker quotes in a non-active market for valuation of these securities. Level 3—unobservable inputs.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Total Revenue by Type and by U.S versus Rest of World	The following table presents detail regarding the composition of the Company’s total revenue by product type and by geographical region, either U.S. or rest of world (“RoW”): Three months ended March 31, 2023 2022 (in millions) U.S. RoW Total U.S. RoW Total Testing revenues: Hereditary Cancer $ 64.0 $ 11.7 $ 75.7 $ 60.7 $ 10.2 $ 70.9 Tumor Profiling 28.8 8.5 37.3 19.7 12.8 32.5 Prenatal 36.0 0.2 36.2 31.7 0.2 31.9 Pharmacogenomics 32.0 — 32.0 29.3 — 29.3 Other — — — 0.3 — 0.3 Total revenue $ 160.8 $ 20.4 $ 181.2 $ 141.7 $ 23.2 $ 164.9

MARKETABLE INVESTMENT SECURIT_2

MARKETABLE INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Fair Value for Available-for-Sale Securities by Major Security Type and Class of Security	The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at March 31, 2023 and December 31, 2022 were as follows: (in millions) Amortized Gross Gross Estimated March 31, 2023 Cash and cash equivalents: Cash $ 51.9 $ — $ — $ 51.9 Cash equivalents 1.7 — — 1.7 Total cash and cash equivalents 53.6 — — 53.6 Available-for-sale: Corporate bonds and notes 29.3 — (0.9) 28.4 Municipal bonds 8.7 — (0.1) 8.6 Federal agency issues 14.5 — (0.4) 14.1 U.S. government securities 4.5 — (0.1) 4.4 Total $ 110.6 $ — $ (1.5) $ 109.1 (in millions) Amortized Gross Gross Estimated December 31, 2022 Cash and cash equivalents: Cash $ 53.6 $ — $ — $ 53.6 Cash equivalents 3.3 — — 3.3 Total cash and cash equivalents 56.9 — — 56.9 Available-for-sale: Corporate bonds and notes 66.7 — (1.6) 65.1 Municipal bonds 16.3 — (0.3) 16.0 Federal agency issues 20.7 — (0.7) 20.0 U.S. government securities 11.8 — (0.1) 11.7 Total $ 172.4 $ — $ (2.7) $ 169.7
Schedule of Cash, Cash Equivalents, and Maturities of Debt Securities Classified as Available-For-Sale Securities	Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities were as follows at March 31, 2023: (in millions) Amortized Estimated Cash $ 51.9 $ 51.9 Cash equivalents 1.7 1.7 Available-for-sale: Due within one year 25.4 25.1 Due after one year through five years 31.6 30.4 Due after five years — — Total $ 110.6 $ 109.1

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets and Liabilities	The following table sets forth the fair value of the financial assets and liabilities that the Company re-measures on a regular basis: (in millions) Level 1 Level 2 Level 3 Total March 31, 2023 Money market funds (a) $ 1.7 $ — $ — $ 1.7 Corporate bonds and notes — 28.4 — 28.4 Municipal bonds — 8.6 — 8.6 Federal agency issues — 14.1 — 14.1 U.S. government securities — 4.4 — 4.4 Contingent consideration — — (6.8) (6.8) Total $ 1.7 $ 55.5 $ (6.8) $ 50.4 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest. (in millions) Level 1 Level 2 Level 3 Total December 31, 2022 Money market funds (a) $ 3.3 $ — $ — $ 3.3 Corporate bonds and notes — 65.1 — 65.1 Municipal bonds — 16.0 — 16.0 Federal agency issues — 20.0 — 20.0 U.S. government securities — 11.7 — 11.7 Contingent consideration — — (6.8) (6.8) Total $ 3.3 $ 112.8 $ (6.8) $ 109.3 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest.

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	The property, plant and equipment at March 31, 2023 and December 31, 2022 were as follows: (in millions) March 31, December 31, Leasehold improvements $ 80.4 $ 67.9 Equipment 128.1 124.7 Property, plant and equipment, gross 208.5 192.6 Less accumulated depreciation (112.2) (109.2) Property, plant and equipment, net $ 96.3 $ 83.4 The Company recorded depreciation during the respective periods as follows: Three months ended (in millions) 2023 2022 Depreciation expense $ 8.7 $ 2.8

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the three months ended March 31, 2023: (in millions) Total Beginning balance $ 286.8 Translation adjustments 0.3 Ending balance $ 287.1
Schedule of Amortizable Intangible Assets	The following summarizes the amounts reported as intangible assets: (in millions) Gross Accumulated Net At March 31, 2023 Developed technologies $ 625.6 $ (263.5) $ 362.1 Customer relationships 1.6 (0.1) 1.5 Trademarks 6.1 (0.3) 5.8 Total intangible assets $ 633.3 $ (263.9) $ 369.4 (in millions) Gross Accumulated Net At December 31, 2022 Developed technologies $ 625.0 $ (252.9) $ 372.1 Customer relationships 1.6 — 1.6 Trademarks 6.1 (0.1) 6.0 Total intangible assets $ 632.7 $ (253.0) $ 379.7
Schedule of Non-amortizable Intangible Assets	The following summarizes the amounts reported as intangible assets: (in millions) Gross Accumulated Net At March 31, 2023 Developed technologies $ 625.6 $ (263.5) $ 362.1 Customer relationships 1.6 (0.1) 1.5 Trademarks 6.1 (0.3) 5.8 Total intangible assets $ 633.3 $ (263.9) $ 369.4 (in millions) Gross Accumulated Net At December 31, 2022 Developed technologies $ 625.0 $ (252.9) $ 372.1 Customer relationships 1.6 — 1.6 Trademarks 6.1 (0.1) 6.0 Total intangible assets $ 632.7 $ (253.0) $ 379.7
Schedule of Recorded Amortization Expense for Intangible Assets	The Company recorded amortization expense during the respective periods for these intangible assets as follows: Three months ended (in millions) 2023 2022 Amortization of intangible assets $ 10.7 $ 10.2

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	The Company's accrued liabilities at March 31, 2023 and December 31, 2022 were as follows: (in millions) March 31, December 31, Employee compensation and benefits $ 39.1 $ 41.2 Accrued taxes payable 4.7 4.8 Refunds payable and reserves 18.5 19.3 Short-term contingent consideration 3.0 — Accrued royalties 5.0 4.8 Other accrued liabilities 21.4 24.2 Total accrued liabilities $ 91.7 $ 94.3

OTHER LONG-TERM LIABILITIES (Ta

OTHER LONG-TERM LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2023
Other Liabilities Disclosure [Abstract]
Schedule of Other Long-Term Liabilities	The Company's other long-term liabilities at March 31, 2023 and December 31, 2022 were as follows: (in millions) March 31, December 31, Contingent consideration $ 3.8 $ 6.8 Other 7.7 7.7 Total other long-term liabilities $ 11.5 $ 14.5

PREFERRED AND COMMON STOCKHOL_2

PREFERRED AND COMMON STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Common Stock Issued and Outstanding	Shares of common stock issued and outstanding Three months ended (in millions) 2023 2022 Beginning common stock issued and outstanding 81.2 80.0 Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plan 0.3 0.3 Common stock issued and outstanding at end of period 81.5 80.3
Schedule of Reconciliation of Denominators of Basic and Diluted Earnings Per Share Computations	The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations: Three months ended (in millions) 2023 2022 Denominator: Weighted-average shares outstanding used to compute basic EPS 81.3 80.1 Effect of dilutive shares — — Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 81.3 80.1
Schedule of Potential Dilutive Common Shares	These potential dilutive shares of common stock, which may be dilutive to future diluted earnings per share, are as follows: Three months ended (in millions) 2023 2022 Anti-dilutive options and RSUs excluded from EPS computation 5.6 5.5

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of the stock option activity for the three months ended March 31, 2023 is as follows: (number of shares in millions) Number Weighted Options outstanding at December 31, 2022 0.7 $ 13.38 Less: Options exercised — $ — Options canceled or expired — $ — Options outstanding at March 31, 2023 0.7 $ 13.38 Options exercisable at March 31, 2023 0.4 $ 13.38
Schedule of Restricted Stock Unit Activity	A summary of the RSU awards activity under the Company’s equity plan and inducement awards, including PSU awards, for the three months ended March 31, 2023 is as follows: (number of shares in millions) Number Weighted RSUs unvested and outstanding at December 31, 2022 3.7 $ 25.08 RSUs granted 1.8 $ 24.19 Less: RSUs vested (0.6) $ 28.07 RSUs canceled — $ 25.42 RSUs unvested and outstanding at March 31, 2023 4.9 $ 24.41
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense recognized and included in the Condensed Consolidated Statements of Operations and Comprehensive Loss was allocated as follows: Three months ended (in millions) 2023 2022 Cost of testing revenue $ 0.3 $ 0.3 Research and development expense 0.6 2.4 Selling, general, and administrative expense 6.6 7.4 Total stock-based compensation expense $ 7.5 $ 10.1

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	The Company's supplemental cash flow information for the three months ended March 31, 2023 and March 31, 2022 are as follows: Three months ended (in millions) 2023 2022 Cash paid for income taxes $ 0.3 $ 0.3 Non-cash investing and financing activities: Establishment of operating lease right-of-use assets and lease liabilities Operating lease right-of-use assets $ 6.0 $ — Operating lease liabilities 6.0 0.8 Tenant improvement allowance not yet received 2.7 — Purchases of property, plant and equipment in accounts payable and accrued liabilities 8.0 0.9
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the Condensed Consolidated Balance Sheets that agrees to the amounts included in the Condensed Consolidated Statements of Cash Flows. Three months ended (in millions) 2023 2022 Cash and cash equivalents $ 53.6 $ 164.2 Restricted cash 9.5 1.4 Total cash, cash equivalents, and restricted cash $ 63.1 $ 165.6
Schedule of Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the Condensed Consolidated Balance Sheets that agrees to the amounts included in the Condensed Consolidated Statements of Cash Flows. Three months ended (in millions) 2023 2022 Cash and cash equivalents $ 53.6 $ 164.2 Restricted cash 9.5 1.4 Total cash, cash equivalents, and restricted cash $ 63.1 $ 165.6

BUSINESS ACQUISITIONS (Tables)

BUSINESS ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair value of identified assets acquired and liabilities assumed at the date of acquisition. (in thousands) Estimated fair value Identifiable assets acquired Current assets $ 1,053 Inventory 1,900 Intangible assets Developed technology 10,100 Trademarks 6,100 Customer relationships 1,600 Total intangible assets 17,800 Other non-current assets 161 Total identifiable assets acquired 20,914 Liabilities assumed Accounts payable (246) Accrued liabilities (693) Total liabilities assumed (939) Net identifiable assets acquired 19,975 Goodwill 48,723 Total fair value of Purchase Price $ 68,698
Schedule of Pro Forma Information	Three Months Ended March 31, 2022 (in thousands) Revenue $ 170,103 Net loss (21,192)

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Cumulative Translation Adjustments in Accumulated Other Comprehensive Loss	The following table shows the cumulative translation adjustments included in Accumulated other comprehensive loss (in millions): Ending balance December 31, 2022 $ (6.2) Period translation adjustments 0.3 Ending balance March 31, 2023 $ (5.9)

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	3 Months Ended
	Mar. 31, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1

REVENUE - Schedule of Total Rev

REVENUE - Schedule of Total Revenue by Type and by U.S versus Rest of World (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 181.2	$ 164.9
U.S.
Disaggregation of Revenue [Line Items]
Total revenue	160.8	141.7
RoW
Disaggregation of Revenue [Line Items]
Total revenue	20.4	23.2
Hereditary Cancer
Disaggregation of Revenue [Line Items]
Total revenue	75.7	70.9
Hereditary Cancer | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	64	60.7
Hereditary Cancer | RoW
Disaggregation of Revenue [Line Items]
Total revenue	11.7	10.2
Tumor Profiling
Disaggregation of Revenue [Line Items]
Total revenue	37.3	32.5
Tumor Profiling | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	28.8	19.7
Tumor Profiling | RoW
Disaggregation of Revenue [Line Items]
Total revenue	8.5	12.8
Prenatal
Disaggregation of Revenue [Line Items]
Total revenue	36.2	31.9
Prenatal | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	36	31.7
Prenatal | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0.2	0.2
Pharmacogenomics
Disaggregation of Revenue [Line Items]
Total revenue	32	29.3
Pharmacogenomics | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	32	29.3
Pharmacogenomics | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Other
Disaggregation of Revenue [Line Items]
Total revenue	0	0.3
Other | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	0	0.3
Other | RoW
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 0

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue and Concentration Risk [Line Items]
Revenue (decrease) increase due to changes in estimated transaction price due to contractual adjustments		$ 12,400,000
Capitalized costs incurred to obtain or fulfill contract	$ 0
Performance Obligation Estimate
Revenue and Concentration Risk [Line Items]
Change in earnings per share (dollars per share)		$ 0.12
Government Contracts Concentration Risk | Medicare | Revenues
Revenue and Concentration Risk [Line Items]
Concentration risk (percent)	11%	13%

MARKETABLE INVESTMENT SECURIT_3

MARKETABLE INVESTMENT SECURITIES - Schedule of Fair Value for Available-for-Sale Securities by Major Security Type and Class of Security (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Cash and cash equivalents:
Amortized cost	$ 53.6	$ 56.9	$ 164.2
Estimated fair value	53.6	56.9
Total
Amortized cost	110.6	172.4
Gross unrealized holding gains	0	0
Gross unrealized holding losses	(1.5)	(2.7)
Estimated fair value	109.1	169.7
Corporate bonds and notes
Available-for-sale:
Amortized cost	29.3	66.7
Gross unrealized holding gains	0	0
Gross unrealized holding losses	(0.9)	(1.6)
Estimated fair value	28.4	65.1
Municipal bonds
Available-for-sale:
Amortized cost	8.7	16.3
Gross unrealized holding gains	0	0
Gross unrealized holding losses	(0.1)	(0.3)
Estimated fair value	8.6	16
Federal agency issues
Available-for-sale:
Amortized cost	14.5	20.7
Gross unrealized holding gains	0	0
Gross unrealized holding losses	(0.4)	(0.7)
Estimated fair value	14.1	20
U.S. government securities
Available-for-sale:
Amortized cost	4.5	11.8
Gross unrealized holding gains	0	0
Gross unrealized holding losses	(0.1)	(0.1)
Estimated fair value	4.4	11.7
Cash
Cash and cash equivalents:
Amortized cost	51.9	53.6
Estimated fair value	51.9	53.6
Cash equivalents
Cash and cash equivalents:
Amortized cost	1.7	3.3
Estimated fair value	$ 1.7	$ 3.3

MARKETABLE INVESTMENT SECURIT_4

MARKETABLE INVESTMENT SECURITIES - Schedule of Cash, Cash Equivalents, and Maturities of Debt Securities Classified as Available-For-Sale Securities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Amortized cost
Cash and cash equivalents	$ 53.6	$ 56.9	$ 164.2
Available-for-sale, Due within one year	25.4
Available-for-sale, Due after one year through five years	31.6
Available-for-sale, Due after five years	0
Amortized cost	110.6	172.4
Estimated fair value
Cash and cash equivalents	53.6	56.9
Available-for-sale, Due within one year	25.1
Available-for-sale, Due after one year through five years	30.4
Available-for-sale, Due after five years	0
Estimated fair value	109.1	169.7
Cash
Amortized cost
Cash and cash equivalents	51.9	53.6
Estimated fair value
Cash and cash equivalents	51.9	53.6
Cash equivalents
Amortized cost
Cash and cash equivalents	1.7	3.3
Estimated fair value
Cash and cash equivalents	$ 1.7	$ 3.3

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - Level 3 - Measurement Input, Expected Term	3 Months Ended
	Mar. 31, 2023
Sividon
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement period for earn out liability	12 years 3 months
Gateway
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement period for earn out liability	2 years

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 50.4	$ 109.3
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	1.7	3.3
Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	28.4	65.1
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	8.6	16
Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	14.1	20
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	4.4	11.7
Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	(6.8)	(6.8)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1.7	3.3
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	1.7	3.3
Level 1 | Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 1 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 1 | Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 1 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 1 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	55.5	112.8
Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 2 | Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	28.4	65.1
Level 2 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	8.6	16
Level 2 | Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	14.1	20
Level 2 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	4.4	11.7
Level 2 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	(6.8)	(6.8)
Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ (6.8)	$ (6.8)

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET - Schedule of Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 208.5	$ 192.6
Less accumulated depreciation	(112.2)	(109.2)
Property, plant and equipment, net	96.3	83.4
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	80.4	67.9
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 128.1	$ 124.7

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, NET - Narrative (Details) - Leasehold improvements - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Accelerated depreciation	$ 5.7
Impairment charge		$ 2.1

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT, NET - Schedule of Depreciation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 8.7	$ 2.8

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 286.8
Translation adjustments	0.3
Ending balance	$ 287.1

GOODWILL AND INTANGIBLE ASSETS-

GOODWILL AND INTANGIBLE ASSETS- Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Intangible Assets [Line Items]
Accumulated Amortization	$ (263.9)	$ (253)
Gross Carrying Amount, total	633.3	632.7
Net, total	369.4	379.7
Developed technologies
Intangible Assets [Line Items]
Gross Carrying Amount	625.6	625
Accumulated Amortization	(263.5)	(252.9)
Net	362.1	372.1
Customer relationships
Intangible Assets [Line Items]
Gross Carrying Amount	1.6	1.6
Accumulated Amortization	(0.1)	0
Net	1.5	1.6
Trademarks
Intangible Assets [Line Items]
Gross Carrying Amount	6.1	6.1
Accumulated Amortization	(0.3)	(0.1)
Net	$ 5.8	$ 6

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Recorded Amortization Expense for Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 10.7	$ 10.2

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 39.1	$ 41.2
Accrued taxes payable	4.7	4.8
Refunds payable and reserves	18.5	19.3
Short-term contingent consideration	3	0
Accrued royalties	5	4.8
Other accrued liabilities	21.4	24.2
Total accrued liabilities	$ 91.7	$ 94.3

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($)		15 Months Ended
	Jul. 26, 2022	Jun. 30, 2021	Mar. 31, 2023	Dec. 31, 2022	Jul. 25, 2022	Sep. 30, 2021	Feb. 22, 2021	Feb. 21, 2021	Jul. 31, 2018	Dec. 23, 2016
Debt Instrument [Line Items]
Outstanding balances			$ 0	$ 0
Amended Facility
Debt Instrument [Line Items]
Line of credit facility, credit exposure threshold	$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum aggregate principal commitment										$ 300,000,000
Revolving Credit Facility | Amended Facility
Debt Instrument [Line Items]
Maximum aggregate principal commitment	$ 200,000,000			$ 150,000,000	$ 250,000,000	$ 250,000,000	$ 300,000,000	$ 350,000,000	$ 350,000,000
Minimum liquidity covenant							150,000,000
Minimum unrestricted cash and cash equivalents threshold per covenant							$ 150,000,000
Undrawn fee (percent)	0.50%	0.50%
Revolving Credit Facility | Amended Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on rate (percent)		3.50%
Revolving Credit Facility | Amended Facility | SOFR
Debt Instrument [Line Items]
Basis spread on rate (percent)	3.50%
SOFR floor (percent)	0%
Letter of Credit | Amended Facility
Debt Instrument [Line Items]
Line of credit facility, credit exposure threshold	$ 5,000,000

OTHER LONG-TERM LIABILITIES (De

OTHER LONG-TERM LIABILITIES (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Contingent consideration	$ 3.8	$ 6.8
Other	7.7	7.7
Total other long-term liabilities	$ 11.5	$ 14.5

PREFERRED AND COMMON STOCKHOL_3

PREFERRED AND COMMON STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2016
Equity [Abstract]
Preferred stock authorized (shares)	5,000,000
Preferred stock, par value (dollars per share)	$ 0.01
Preferred stock outstanding (shares)	0
Common stock authorized (shares)	150,000,000
Common stock, par value (dollars per share)	$ 0.01
Common stock issued (shares)	81,500,000	80,300,000	81,200,000	80,000,000
Common stock outstanding (shares)	81,500,000	80,300,000	81,200,000	80,000,000
Share repurchase program, authorized amount					$ 200,000,000
Share repurchase program, remaining repurchase authorization	$ 110,700,000
Shares repurchased	0	0

PREFERRED AND COMMON STOCKHOL_4

PREFERRED AND COMMON STOCKHOLDERS' EQUITY - Schedule of Common Stock Issued and Outstanding (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Common shares issued and outstanding
Beginning common stock issued (shares)	81.2	80
Beginning common stock outstanding (shares)	81.2	80
Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plan (shares)	0.3	0.3
Ending common stock issued (shares)	81.5	80.3
Ending common stock outstanding (shares)	81.5	80.3

PREFERRED AND COMMON STOCKHOL_5

PREFERRED AND COMMON STOCKHOLDERS' EQUITY - Schedule of Reconciliation of Denominators of Basic and Diluted Earnings Per Share Computations (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Weighted-average shares outstanding used to compute basic EPS	81.3	80.1
Effect of dilutive shares	0	0
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS	81.3	80.1

PREFERRED AND COMMON STOCKHOL_6

PREFERRED AND COMMON STOCKHOLDERS' EQUITY - Schedule of Potential Dilutive Common Shares (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Anti-dilutive options and RSUs excluded from EPS computation (shares)	5.6	5.5

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions		3 Months Ended
	Sep. 23, 2021	Mar. 31, 2023
Share-Based Compensation [Line Items]
Unrecognized stock-based compensation expense related to stock options		$ 0.9
2017 Plan
Share-Based Compensation [Line Items]
Shares available for grant (shares)		100,000
2012 Purchase Plan
Share-Based Compensation [Line Items]
Number of additional shares authorized (shares)	4,000,000
Maximum number of shares per participant per offering period (shares)	5,000
Shares issued under the plan (shares)		1,700,000
Options and RSUs | Non-Employee Director
Share-Based Compensation [Line Items]
Service period for award vesting (in years)		1 year
RSUs
Share-Based Compensation [Line Items]
Weighted-average period for recognition (in years)		2 years 8 months 12 days
Unrecognized stock-based compensation expense related to RSUs		$ 95
RSUs | Minimum
Share-Based Compensation [Line Items]
Service period for award vesting (in years)		3 years
RSUs | Maximum
Share-Based Compensation [Line Items]
Service period for award vesting (in years)		4 years
RSUs | Achievement Levels Based on EPS Targets
Share-Based Compensation [Line Items]
Vesting weight (percent)		34%
RSUs | Relative Total Stockholders Return
Share-Based Compensation [Line Items]
Vesting weight (percent)		33%
RSUs | Performance Based on Nasdaq Healthcare Provider Index
Share-Based Compensation [Line Items]
Vesting weight (percent)		33%
Stock Options
Share-Based Compensation [Line Items]
Weighted-average period for recognition (in years)		1 year 4 months 24 days

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Stock Option Activity (Details) shares in Millions	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
Options outstanding, beginning balance (shares) | shares	0.7
Options exercised (shares) | shares	0
Options canceled or expired (shares) | shares	0
Options outstanding, ending balance (shares) | shares	0.7
Options exercisable at end of period (shares) | shares	0.4
Weighted Average Exercise Price
Options outstanding, beginning balance (dollars per share) | $ / shares	$ 13.38
Options exercised (dollars per share) | $ / shares	0
Options canceled or expired (dollars per share) | $ / shares	0
Options outstanding, ending balance (dollars per share) | $ / shares	13.38
Options exercisable at end of period (dollars per share) | $ / shares	$ 13.38

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Restricted Stock Unit Activity (Details) - RSUs shares in Millions	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
RSUs unvested and outstanding, beginning balance (shares) | shares	3.7
RSUs granted (shares) | shares	1.8
RSUs vested (shares) | shares	(0.6)
RSUs canceled (shares) | shares	0
RSUs unvested and outstanding, ending balance (shares) | shares	4.9
Weighted Average Grant Date Fair Value
RSUs unvested and outstanding, beginning balance (dollars per share) | $ / shares	$ 25.08
RSUs granted (dollars per share) | $ / shares	24.19
RSUs vested (dollars per share) | $ / shares	28.07
RSUs canceled (dollars per share) | $ / shares	25.42
RSUs unvested and outstanding, ending balance (dollars per share) | $ / shares	$ 24.41

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Compensation Expense [Line Items]
Total stock-based compensation expense	$ 7.5	$ 10.1
Cost of testing revenue
Share-Based Compensation Expense [Line Items]
Total stock-based compensation expense	0.3	0.3
Research and development expense
Share-Based Compensation Expense [Line Items]
Total stock-based compensation expense	0.6	2.4
Selling, general, and administrative expense
Share-Based Compensation Expense [Line Items]
Total stock-based compensation expense	$ 6.6	$ 7.4

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 2.1	$ (5.9)
Approximate tax rate	(4.00%)	22.30%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Dec. 21, 2020 patent
Raygen, Inc vs. Myriad Women's Health, Inc.
Loss Contingencies [Line Items]
Number of patents allegedly infringed	2

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes	$ 0.3	$ 0.3
Establishment of operating lease right-of-use assets and lease liabilities
Operating lease right-of-use assets	6	0
Operating lease liabilities	6	0.8
Tenant improvement allowance not yet received	2.7	0
Purchases of property, plant and equipment in accounts payable and accrued liabilities	$ 8	$ 0.9

SUPPLEMENTAL CASH FLOW INFORM_4

SUPPLEMENTAL CASH FLOW INFORMATION - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 53.6	$ 56.9	$ 164.2
Restricted cash	9.5		1.4
Total cash, cash equivalents, and restricted cash	$ 63.1	$ 66.4	$ 165.6	$ 258.8

LEASES (Details)

LEASES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets		$ 107	$ 103.9
Loss due to abandonment of facility	$ 8.6
Goodwill and long-lived asset impairment charges	10.7
West Salt Lake City
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets		5.9
Operating lease liability		5.9
Lease payments due		$ 79.6
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms		1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms		15 years
Leasehold improvements
Lessee, Lease, Description [Line Items]
Impairment charge	$ 2.1

BUSINESS ACQUISITIONS - Narrati

BUSINESS ACQUISITIONS - Narrative (Details) - Gateway - USD ($) $ in Millions		3 Months Ended
	Nov. 01, 2022	Mar. 31, 2023
Business Acquisition [Line Items]
Business acquisition consideration	$ 68.7
Business combination, pro forma information, revenue of acquiree since acquisition date, actual		$ 5.5
Business combination, pro forma information, loss of acquiree since acquisition date, actual		$ (0.6)

BUSINESS ACQUISITIONS - Schedul

BUSINESS ACQUISITIONS - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Nov. 01, 2022
Business Acquisition [Line Items]
Goodwill	$ 287,100	$ 286,800
Gateway
Business Acquisition [Line Items]
Goodwill			$ 48,723
Current assets			1,053
Inventory			1,900
Intangible assets			17,800
Other non-current assets			161
Total identifiable assets acquired			20,914
Accounts payable			(246)
Accrued liabilities			(693)
Total liabilities assumed			(939)
Net identifiable assets acquired			19,975
Total fair value purchase price			68,698
Gateway | Developed technology
Business Acquisition [Line Items]
Intangible assets			10,100
Gateway | Trademarks
Business Acquisition [Line Items]
Intangible assets			6,100
Gateway | Customer relationships
Business Acquisition [Line Items]
Intangible assets			$ 1,600

BUSINESS ACQUISITIONS - Sched_2

BUSINESS ACQUISITIONS - Schedule of Pro Forma Information (Details) - Gateway $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Business Acquisition [Line Items]
Revenue	$ 170,103
Net loss	$ (21,192)

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 885.8	$ 967.8
Other comprehensive loss, net of tax	1.5	(2.5)
Ending balance	835.2	$ 950.1
Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(6.2)
Other comprehensive loss, net of tax	0.3
Ending balance	$ (5.9)