Myriad Genetics (MYGN) 10-Q 9 Nov 20 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2020	Nov. 02, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	0-26642
Entity Registrant Name	MYRIAD GENETICS, INC.
Entity Central Index Key	0000899923
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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		75,210,480

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 118.3	$ 163.7
Marketable investment securities	42.1	54.1
Prepaid expenses	12.5	13.8
Inventory	26.6	29.1
Trade accounts receivable	85.1	68.1
Prepaid taxes	107.9	0
Other receivables	2	2.9
Total current assets	394.5	331.7
Property, plant and equipment, net	36.7	37
Operating lease right-of-use assets	62.7	66
Long-term marketable investment securities	30.2	37
Intangibles, net	590.9	605.3
Goodwill	328.3	327.6
Other assets	1.2	0
Total assets	1,444.5	1,404.6
Current liabilities:
Accounts payable	19.1	21.7
Accrued liabilities	65.4	75.9
Current maturities of operating lease liabilities	13.6	13.5
Short-term contingent consideration	3.3	3.1
Deferred revenue	32.3	32.8
Total current liabilities	133.7	147
Unrecognized tax benefits	37.4	23.5
Long-term deferred taxes	75.3	26.6
Long-term debt	224.6	224.4
Noncurrent operating lease liabilities	53.5	56.9
Other long-term liabilities	10.7	8
Total liabilities	535.2	486.4
Commitments and contingencies
Stockholders’ equity:
Common stock, 75.2 and 74.7 shares outstanding at September 30, 2020 and June 30, 2020 respectively	0.8	0.7
Additional paid-in capital	1,101.2	1,096.6
Accumulated other comprehensive loss	(3.6)	(5.2)
Accumulated deficit	(189.1)	(173.9)
Total Myriad Genetics, Inc. stockholders’ equity	909.3	918.2
Non-controlling interest	0	0
Total stockholders' equity	909.3	918.2
Total liabilities and stockholders’ equity	$ 1,444.5	$ 1,404.6

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares shares in Millions	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2019
Statement of Financial Position [Abstract]
Common stock, shares outstanding	75.2	74.7	73.5

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Total revenue	$ 145.2	$ 186.3
Costs and expenses:
Research and development expense	17.6	21.3
Change in the fair value of contingent consideration	(1.1)	0.7
Selling, general, and administrative expense	124.1	135.5
Total costs and expenses	184.8	207.2
Operating loss	(39.6)	(20.9)
Other income (expense):
Interest income	0.4	0.9
Interest expense	(2.9)	(2.9)
Other	(1.6)	0.6
Total other expense, net	(4.1)	(1.4)
Loss before income tax	(43.7)	(22.3)
Income tax benefit	(28.5)	(1.7)
Net loss	(15.2)	(20.6)
Net loss attributable to non-controlling interest	0	0
Net loss attributable to Myriad Genetics, Inc. stockholders	$ (15.2)	$ (20.6)
Net loss per share:
Basic and diluted (in dollars per share)	$ (0.20)	$ (0.28)
Weighted average shares outstanding:
Basic and diluted (shares)	74.7	73.7
Molecular diagnostic testing
Total revenue	$ 135.7	$ 172
Costs and expenses:
Costs and expenses	39.9	41.2
Pharmaceutical and clinical services
Total revenue	9.5	14.3
Costs and expenses:
Costs and expenses	$ 4.3	$ 8.5

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss attributable to Myriad Genetics, Inc. stockholders	$ (15.2)	$ (20.6)
Unrealized loss on available-for-sale debt securities, net of tax	(0.2)	0
Change in foreign currency translation adjustment, net of tax	1.8	(2.2)
Comprehensive loss	(13.6)	(22.8)
Comprehensive loss attributable to non-controlling interest	0	0
Comprehensive loss attributable to Myriad Genetics, Inc. shareholders	$ (13.6)	$ (22.8)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive loss	Retained earnings (accumulated deficit)
Beginning balance at Jun. 30, 2019	$ 1,088.9	$ 0.7	$ 1,068	$ (5.4)	$ 25.6
Issuance of common stock under share-based compensation plans, net of shares exchanged for withholding tax	(0.5)		(0.5)
Share-based payment expense	8.8		8.8
Net loss	(20.6)				(20.6)
Other comprehensive loss, net of tax	(2.1)			(2.1)
Ending balance at Sep. 30, 2019	1,074.5	0.7	1,076.3	(7.5)	5
Beginning balance at Jun. 30, 2020	918.2	0.7	1,096.6	(5.2)	(173.9)
Issuance of common stock under share-based compensation plans, net of shares exchanged for withholding tax	(3.7)	0.1	(3.8)
Share-based payment expense	8.4		8.4
Net loss	(15.2)				(15.2)
Other comprehensive loss, net of tax	1.6			1.6
Ending balance at Sep. 30, 2020	$ 909.3	$ 0.8	$ 1,101.2	$ (3.6)	$ (189.1)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss attributable to Myriad Genetics, Inc. stockholders	$ (15.2)	$ (20.6)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	17.7	18.2
Non-cash interest expense	0.2	0.1
Non-cash lease expense	3.3	3.2
Loss (gain) on disposition of assets	0.1	(0.1)
Share-based compensation expense	8.4	8.8
Deferred income taxes	48.4	(5.1)
Unrecognized tax benefits	13.9	0.4
Change in fair value of contingent consideration	(1.1)	0.7
Changes in assets and liabilities:
Prepaid expenses	1.2	2.6
Trade accounts receivable	(17)	16.7
Other receivables	0.9	(0.1)
Inventory	2.6	3.1
Prepaid taxes	(107.9)	2.1
Other assets	(1.2)	0
Accounts payable	(3.2)	(9.3)
Accrued liabilities	(9.8)	(4.9)
Deferred revenue	(0.6)	0
Net cash (used in) provided by operating activities	(59.3)	15.8
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1.5)	(1.4)
Purchases of marketable investment securities	0	(23.1)
Proceeds from maturities and sales of marketable investment securities	18.6	17.4
Net cash provided by (used in) investing activities	17.1	(7.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment for tax withholding for common stock issued under share-based compensation plans	(3.8)	(0.4)
Payment of contingent consideration recognized at acquisition	(0.1)	(3.3)
Repayment of revolving credit facility	0	(8.6)
Net cash used in financing activities	(3.9)	(12.3)
Effect of foreign exchange rates on cash and cash equivalents	0.7	0.3
Net decrease in cash and cash equivalents	(45.4)	(3.3)
Cash and cash equivalents at beginning of the period	163.7	93.2
Cash and cash equivalents at end of the period	$ 118.3	$ 89.9

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying condensed consolidated financial statements for Myriad Genetics, Inc. and subsidiaries (the “Company” or “Myriad”) have been prepared in accordance with 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 fiscal year ended June 30, 2020. The preparation of financial statements in conformity with U.S. 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. Operating results for the three months ended September 30, 2020 may not necessarily be indicative of results to be expected for any other interim period or for the full year. The full impact of the COVID-19 outbreak continues to evolve and its future impact remains highly uncertain and unpredictable. As such, it is uncertain as to the full magnitude of the effect that the pandemic will have on the Company's financial condition, liquidity, and future results of operations. Management is actively monitoring the impact of the global situation on the Company's financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evaluation of the COVID-19 outbreak and the global responses to curb its spread, the Company is not able to estimate the effects of the COVID-19 outbreak on its results of operations, financial condition, or liquidity for future periods. We have historically experienced seasonality in our testing business. The volume of testing is negatively impacted by the summer season, which is generally reflected in the quarter ended June 30. The quarter ending December 31 is generally strong as we see an increase in volumes from patients who have met their annual insurance deductible. Conversely, the quarter ending March 31 is typically negatively impacted by the annual reset of patient deductibles. Due to the global pandemic, we cannot predict if seasonality will follow the same pattern as in prior years. Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassifications have no impact on the total assets, total liabilities, stockholders’ equity, cash flows from operations, or net loss for the period. Recent Accounting Pronouncements Recently Adopted Standards In June 2016, the Financial Accounting Standards Board (the "FASB") issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) (“ASU 2016-13”) which introduces new guidance for the accounting for credit losses on certain instruments within its scope. ASU 2016-13 introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. For trade receivables, the Company is required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which reflects losses that are probable. Credit losses relating to available-for-sale debt securities are also recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. On July 1, 2020, the Company adopted ASU 2016-13 under the modified retrospective approach by initially applying ASU 2016-13 at the adoption date, rather than at the beginning of the earliest comparative period presented. This guidance was adopted with no material impact to the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software, including hosting arrangements that include an internal-use software license. On July 1, 2020, the Company adopted ASU 2018-15 on a prospective basis with no material impact to the Company's consolidated financial statements as of September 30, 2020. The amounts capitalized may be material in future periods; implementation costs incurred in cloud computing arrangements are capitalized as part of the other assets financial statement line item in the consolidated balance sheets. Standards Effective in Future Years and Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASC 2019-12 is a new accounting standard to simplify accounting for income taxes and remove, modify, and add to the disclosure requirements of income taxes. The standard is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements.

Revenue

Revenue	3 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Myriad generates revenue by performing molecular diagnostic testing and pharmaceutical services. The Company previously provided clinical services until selling Privatklinik Dr. Robert Schindlbeck GmbH & Co. KG (the "Clinic") in February 2020. Revenue from the sale of molecular diagnostic tests and pharmaceutical and clinical services is recorded at the estimated amount of consideration to be received. The Company has determined that the communication of test results or the completion of clinical and pharmaceutical services indicates transfer of control for revenue recognition purposes. The following table presents detail regarding the composition of our total revenue by product and by U.S. versus rest of world, “RoW”: Three months ended September 30, 2020 2019 (In millions) U.S. RoW Total U.S. RoW Total Molecular diagnostic revenues: Hereditary Cancer Testing $ 72.1 $ 8.5 $ 80.6 $ 100.6 $ 3.9 $ 104.5 Prenatal 16.4 0.1 16.5 23.5 — 23.5 GeneSight 11.9 — 11.9 22.7 — 22.7 Vectra 9.1 — 9.1 11.0 — 11.0 myChoice CDx 7.6 0.2 7.8 1.3 — 1.3 Prolaris 6.4 — 6.4 6.5 — 6.5 EndoPredict 0.4 2.4 2.8 0.5 1.8 2.3 Other 0.6 — 0.6 0.1 0.1 0.2 Total molecular diagnostic revenue 124.5 11.2 135.7 166.2 5.8 172.0 Pharmaceutical and clinical service revenue 9.5 — 9.5 8.5 5.9 14.3 Total revenue $ 134.0 $ 11.2 $ 145.2 $ 174.7 $ 11.7 $ 186.3 The Company performs its obligation under a contract with a customer by processing diagnostic 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. During fiscal year 2020, the Company received approximately $29.7 in advance Medicare payments to provide relief from the economic impacts of COVID-19 on the Company. The advance Medicare payments are included in the beginning and ending balance of deferred revenue. A reconciliation of the beginning and ending balances of deferred revenue is shown in the table below: Three months ended 2020 2019 Deferred revenue - beginning balance $ 32.8 $ 2.2 Revenue recognized (2.3) (0.4) Prepayments 1.8 0.3 Deferred revenue - ending balance $ 32.3 $ 2.1 In accordance with ASU 2014-09, 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 Company’s performance to date. However, the Company periodically enters into arrangements with customers to provide diagnostic testing and/or pharmaceutical and clinical services that may have terms longer than one year and include multiple performance obligations. As of September 30, 2020, the aggregate amount of the transaction price of such contracts that is allocated to the remaining performance obligations is $2.8. The Company may provide discounts to its customers. In determining the transaction price, Myriad 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. The Company applies the expected value method for sales where the Company has a large number of contracts with similar characteristics. In addition, the Company considers all the information (historical, current, and forecast) that is reasonably available to identify possible consideration amounts. 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 Company excludes from the measurement of transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the Company from a customer. for example, sales tax, value added tax, etc. 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 on the balance sheet in anticipation of requests for refunds of payments made previously by insurance carriers, which are accounted for as reductions in revenues in the consolidated statements of operations and comprehensive loss. As of September 30, 2020, the Company recorded a $2.2 accrued liability and corresponding reduction in revenues for future refund of payments. Cash collections for certain diagnostic tests delivered may differ from rates originally 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 our estimate of the amounts to be recognized for previously delivered tests, the impact of which was not material to our consolidated statements of operations for the three months ended September 30, 2020. 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 us 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 that make payments on the customer's behalf, and with 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 approximately 16% and 14% of total revenue for the three months ended September 30, 2020 and 2019, 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 September 30, 2020 or 2019. The Company does not require collateral from its customers.

Marketable Investment Securitie

Marketable Investment Securities	3 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Marketable Investment Securities	MARKETABLE INVESTMENT SECURITIES The Company has classified its debt investment securities as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses, net of the related tax effect, included in accumulated other comprehensive loss in stockholders’ equity until realized. Gains and losses on investment security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned. The Company’s cash equivalents consist of short-term, highly liquid investments that are readily convertible to known amounts of cash. 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 September 30, 2020 and June 30, 2020 were as follows: Amortized Gross Gross Estimated At September 30, 2020: Cash and cash equivalents: Cash $ 68.3 $ — $ — $ 68.3 Cash equivalents 50.0 — — $ 50.0 Total cash and cash equivalents 118.3 — — 118.3 Available-for-sale: Corporate bonds and notes 40.5 0.6 — 41.1 Municipal bonds 12.6 0.2 — 12.8 Federal agency issues 4.0 0.1 — 4.1 US government securities 14.2 0.1 — 14.3 Total $ 189.6 $ 1.0 $ — $ 190.6 Amortized Gross Gross Estimated At June 30, 2020: Cash and cash equivalents: Cash $ 132.8 $ — $ — $ 132.8 Cash equivalents 30.9 — — 30.9 Total cash and cash equivalents 163.7 — — 163.7 Available-for-sale: Corporate bonds and notes 50.1 0.8 — 50.9 Municipal bonds 17.8 0.2 — 18.0 Federal agency issues 5.5 0.1 — 5.6 US government securities 16.4 0.2 — 16.6 Total $ 253.5 $ 1.3 $ — $ 254.8 In accordance with the adoption of ASC 2016-13, the Company assesses any unrealized loss positions for available-for-sale debt securities for which an allowance for credit losses has not been recorded. The aggregate amount of unrealized losses of these securities was not significant, and the impact of the securities in a continuous loss position to the condensed consolidated statements of operations and comprehensive loss were not material as of September 30, 2020. Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities are as follows at September 30, 2020: Amortized Estimated Cash $ 68.3 $ 68.3 Cash equivalents 50.0 50.0 Available-for-sale: Due within one year 41.8 42.1 Due after one year through five years 29.5 30.2 Due after five years — — Total $ 189.6 $ 190.6

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2020
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. The fair value of contingent consideration related to the Sividon Diagnostics GmbH ("Sividon") acquisition in fiscal year 2016 as well as long-term debt are categorized as Level 3 liabilities, as the measurement amount is based primarily on significant inputs not observable in the market. For Level 3 contingent consideration, 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 earn out liability. This fair value measurement is considered a Level 3 measurement because the Company estimates projections during the expected measurement period of approximately 9.25 years, 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 earn-out itself, the related projections, and the overall business. The contingent earn-out liabilities are classified as a component of long-term and short-term contingent consideration in the Company’s consolidated balance sheets. Changes to the earn-out liabilities are reflected in change in the fair value of contingent consideration in our consolidated statements of operations. Changes to the unobservable inputs could have a material impact on the Company’s financial statements. The fair value of our long-term debt, which we consider a Level 3 measurement, is estimated using discounted cash flow analyses, based on the Company’s current estimated incremental borrowing rates for similar borrowing arrangements. The fair value of long-term debt is estimated to be $226.5 at September 30, 2020. The following table sets forth the fair value of the financial assets and liabilities that the Company re-measures on a regular basis: Level 1 Level 2 Level 3 Total September 30, 2020 Money market funds (a) $ 50.0 $ — $ — $ 50.0 Corporate bonds and notes — 41.1 — 41.1 Municipal bonds — 12.8 — 12.8 Federal agency issues — 4.1 — 4.1 US government securities — 14.3 — 14.3 Contingent consideration — — (5.9) (5.9) Total $ 50.0 $ 72.3 $ (5.9) $ 116.4 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest. Level 1 Level 2 Level 3 Total June 30, 2020 Money market funds (a) $ 30.9 $ — $ — $ 30.9 Corporate bonds and notes — 50.9 — 50.9 Municipal bonds — 18.0 — 18.0 Federal agency issues — 5.6 — 5.6 US government securities — 16.6 — 16.6 Contingent consideration — — (6.8) (6.8) Total $ 30.9 $ 91.1 $ (6.8) $ 115.2 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest. The following table reconciles the change in the fair value of the contingent consideration during the periods presented: Carrying Balance June 30, 2020 $ 6.8 Payment of contingent consideration (0.1) Change in fair value recognized in the income statement (1.1) Translation adjustments recognized in other comprehensive loss 0.3 Ending balance September 30, 2020 $ 5.9

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	PROPERTY, PLANT AND EQUIPMENT, NET September 30, June 30, Leasehold improvements $ 32.6 $ 31.8 Equipment 114.1 112.1 146.7 143.9 Less accumulated depreciation (110.0) (106.9) Property, plant and equipment, net $ 36.7 $ 37.0 Three months ended 2020 2019 Depreciation expense $ 2.4 $ 2.9

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill for the three months ended September 30, 2020, are as follows: Diagnostic Other Total Beginning balance $ 270.7 $ 56.9 $ 327.6 Translation adjustments 0.7 — 0.7 Ending balance $ 271.4 $ 56.9 $ 328.3 The Company will perform its annual goodwill impairment testing during the quarter ended December 31, 2020 as a result of its change in fiscal year end (see Note 16). The upcoming annual assessment may result in impairment charges if there is deterioration in business conditions, negative changes in market factors, or changes in the strategic priorities of the Company and its reporting units. Intangible Assets Intangible assets primarily consist of amortizable assets of purchased licenses and technologies, customer relationships, and trade names as well as non-amortizable intangible assets of in-process technologies and research and development. The following summarizes the amounts reported as intangible assets: Gross Accumulated Net At September 30, 2020: Purchased licenses and technologies $ 816.6 $ (232.4) $ 584.2 Customer relationships 4.7 (4.4) 0.3 Trademarks 3.0 (1.4) 1.6 Total amortized intangible assets 824.3 (238.2) 586.1 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 829.1 $ (238.2) $ 590.9 Gross Accumulated Net At June 30, 2020: Purchased licenses and technologies $ 815.6 $ (217.1) $ 598.5 Customer relationships 4.6 (4.2) 0.4 Trademarks 3.0 (1.4) 1.6 Total amortized intangible assets 823.2 (222.7) 600.5 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 828.0 $ (222.7) $ 605.3 The Company recorded amortization expense during the respective periods for these intangible assets as follows: Three months ended 2020 2019 Amortization of intangible assets $ 15.3 $ 15.3

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES September 30, June 30, Employee compensation and benefits $ 47.2 $ 47.4 Accrued taxes payable 3.5 6.1 Other 14.7 22.4 Total accrued liabilities $ 65.4 $ 75.9

Long-Term Debt

Long-Term Debt	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT On December 23, 2016, the Company entered into a senior secured revolving credit facility (the “Facility”) by and among Myriad, as borrower, and the lenders from time to time party thereto. On July 31, 2018, the Company entered into Amendment No. 1 which effected an “amend and extend” transaction with respect to the Facility by which the maturity date thereof was extended to July 31, 2023 and the maximum aggregate principal commitment was increased from $300.0 to $350.0. On May 1, 2020, the Company entered into Amendment No. 2 (the “Amended Facility”), which waived the Company's compliance with certain covenants and modified the interest rate and other terms during the Amendment Period from March 31, 2020 through June 30, 2021 (the "Amendment Period"). Both amendments were accounted for as modifications pursuant to guidance in ASC 470-50. Pursuant to the Amended Facility, the Company borrowed revolving loans in an aggregate principal amount of $300.0 with $1.8 in upfront fees and $0.3 debt issuance costs recorded as a debt discount to be amortized over the term of the Amended Facility. The Company incurred an additional $1.0 in upfront fees as a result of Amendment No. 2, which was also recorded as a debt discount that will be amortized over the term of the Amended Facility. The current balance of the net long-term debt is $224.6. There are no scheduled principal payments of the Amended Facility prior to its maturity date. The Amended Facility contains customary loan terms, interest rates, representations and warranties, affirmative and negative covenants, in each case, 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 balance and the undrawn fee was increased to 50 basis points during the Amendment Period. At the end of the Amendment Period, interest rates return to the previous pricing of 200 basis points on drawn balances and an undrawn fee ranging from 25 to 45 basis points based on the Company's leverage ratio. The LIBOR floor was also increased to 1.0% during the Amendment Period. The interest rate as of September 30, 2020 was 4.5%. 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, create certain types of liens, and complete mergers, consolidations, or complete 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 shareholders. The Company must maintain specified leverage and interest ratios measured as of the end of each quarter as a financial covenant in the Amended Facility. Amendment No. 2 modified the Amended Facility's compliance with the leverage covenant and the interest coverage ratio covenant, which were waived through March 31, 2021. A minimum liquidity covenant was added for the period beginning May 2020 until March 2021, and a minimum EBITDA covenant was added for the quarters ending December 31, 2020 and March 31, 2021. Amendment No. 2 also revised certain negative covenants of the Amended Facility during the Amendment Period. The Company was in compliance with all financial covenants at September 30, 2020. Based on the continued uncertainty regarding the impact of COVID-19 on the Company’s future operations, it is possible that the Company could be in violation of certain financial covenants contained in the Amended Facility within the Amendment Period, which runs through June 30, 2021. The Company may seek waivers or amendments from the lenders in order to avoid a future potential covenant violation, in addition to taking other potential actions. If the Company were unable to comply with the covenants in the future, it could result in an increase in the rate of interest and limits on the Company's ability to incur certain additional indebtedness and it could potentially cause the loan repayment to be accelerated, any of which could have a material adverse impact on the Company’s operations and liquidity. The Company has and continues to take actions to mitigate the risk of an event of default under the Amended Facility, however there is no assurance it will be successful in doing so. The Amended Facility is secured by a first-lien security interest in substantially all of the assets of Myriad and certain of its domestic subsidiaries and each such domestic subsidiary of Myriad has guaranteed the repayment of the Amended Facility. Amounts outstanding under the Amended Facility and Facility were as follows: September 30, June 30, Long-term debt $ 226.7 $ 226.7 Long-term debt discount (2.1) (2.3) Net long-term debt $ 224.6 $ 224.4

Other Long-Term Liabilities

Other Long-Term Liabilities	3 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Other Long-Term Liabilities	OTHER LONG-TERM LIABILITIES September 30, June 30, Contingent consideration $ 2.6 $ 3.7 Other 8.1 4.3 Total other long-term liabilities $ 10.7 $ 8.0

Preferred and Common Stockholde

Preferred and Common Stockholders' Equity	3 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Preferred and Common Stockholders' Equity	PREFERRED AND COMMON STOCKHOLDERS' EQUITY The Company is authorized to issue up to 5.0 shares of preferred stock, par value $0.01 per share. There were no preferred shares outstanding at September 30, 2020. The Company is authorized to issue up to 150.0 shares of common stock, par value $0.01 per share. There were 75.2 shares issued and outstanding at September 30, 2020. Common shares issued and outstanding Three months ended Year ended June 30, 2020 2020 Beginning common stock issued and outstanding 74.7 73.5 Common stock issued upon exercise of options, vesting of restricted stock units and employee stock plans 0.5 1.2 Common stock issued and outstanding at end of period 75.2 74.7 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 2020 2019 Denominator: Weighted-average shares outstanding used to compute basic EPS 74.7 73.7 Effect of dilutive shares — — Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 74.7 73.7 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 common shares, which may be dilutive to future diluted earnings per share, are as follows: Three months ended 2020 2019 Anti-dilutive options and RSUs excluded from EPS computation 7.3 1.7 Stock Repurchase Program In June 2016, the Company’s Board of Directors authorized a share repurchase program of $200.0 of the Company’s outstanding 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 September 30, 2020, the Company is authorized to repurchase up to $110.7 of shares under this authorization. No shares were repurchased during the three months ended September 30, 2020 or 2019.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION On November 30, 2017, the Company’s shareholders approved the adoption of the 2017 Employee, Director and Consultant Equity Incentive Plan (as amended, the “2017 Plan”). On November 29, 2018 and December 5, 2019, the shareholders approved amendments to the 2017 Plan increasing the shares available to grant. The 2017 Plan allows the Company, under the direction of the Compensation Committee of the Board of Directors, to make grants of restricted and unrestricted stock awards to employees, consultants and directors. As of September 30, 2020, the Company may grant additional shares of common stock under the 2017 Plan with respect to the 0.1 options outstanding under our 2003 Plan and 4.8 options and restricted stock units outstanding under our 2010 Plan, to the extent that those options and restricted stock units expire or are cancelled without delivery of shares of common stock. 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, which were subject to the RSU, shall again be available for issuance pursuant to the 2017 Plan. The number of shares, terms, and vesting periods are determined by the Company’s Board of Directors or a committee thereof on an award-by-award basis. RSUs granted to employees generally vest ratably over four years on the anniversary date of the designated day of the last week of the month in which the RSUs are granted. The number of RSUs awarded to certain executive officers may be increased or reduced based on certain additional performance metrics. Options and RSUs granted to our non-employee directors vest in full upon completion of one year of service on the anniversary following the date of the grant. Options generally vest ratably over service periods of four years. Options granted after December 5, 2012 expire eight years from the date of grant, and options granted prior to that date generally expire ten years from the date of grant. In September 2014, the Company began generally issuing RSUs in lieu of stock options. During the three months ended September 30, 2020, the Company granted stock-based awards to the Company's new President and Chief Executive Officer as an inducement material to his commencement of employment and entry into an employment agreement with the Company. The inducement awards were made in accordance with Nasdaq Stock Market rules and were not made under the Company's existing equity plans; the inducement awards are included in the tables below. Stock Options A summary of the stock option activity under the Company’s equity plans, including the Company's inducement awards, for the three months ended September 30, 2020 is as follows: Number Weighted Options outstanding at June 30, 2020 4.8 $ 24.47 Options granted 0.7 $ 13.38 Less: Options exercised — $ — Options canceled or expired (0.1) $ 16.40 Options outstanding at September 30, 2020 5.4 $ 23.19 Options exercisable at September 30, 2020 4.7 $ 24.62 As of September 30, 2020, there was $5.2 of unrecognized share-based compensation expense related to the inducement stock options that will be recognized over a weighted-average period of 2.8 years. Restricted Stock Units A summary of the RSU activity under the Company’s plans, including the Company's inducement awards and RSU awards with performance metrics, for the three months ended September 30, 2020 is as follows: Number Weighted RSUs outstanding at June 30, 2020 2.3 $ 32.50 RSUs granted 0.4 $ 13.24 Less: RSUs vested (0.8) $ 33.07 RSUs canceled — $ — RSUs outstanding at September 30, 2020 1.9 $ 27.70 As of September 30, 2020, there was $44.1 of total unrecognized share-based compensation expense related to RSUs that will be recognized over a weighted-average period of 2.5 years. Employee Stock Purchase Plan The Company also has an Employee Stock Purchase Plan that was approved by shareholders in 2012 (the “2012 Purchase Plan”), under which 2.0 shares of common stock have been authorized. Shares are issued under the 2012 Purchase Plan twice yearly at the end of each offering period. As of September 30, 2020, approximately 0.3 shares of common stock are available for issuance under the 2012 Purchase Plan. Share-Based Compensation Expense Share-based compensation expense recognized and included in the condensed consolidated statements of operations and comprehensive loss was allocated as follows: Three months ended 2020 2019 Cost of molecular diagnostic testing $ 0.3 $ 0.2 Cost of pharmaceutical and clinical services 0.1 0.1 Research and development expense 1.3 1.5 Selling, general, and administrative expense 6.7 7.0 Total share-based compensation expense $ 8.4 $ 8.8

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES In 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. Under the Tax Cuts and Jobs Act, the federal corporate tax rate is 21% for calendar year 2020. 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 benefit for the three months ended September 30, 2020 was $28.5, or approximately 65.2% of pre-tax loss compared to an income tax benefit of $1.7, or approximately 7.6% of pre-tax loss, for the three months ended September 30, 2019. Income tax benefit for the three months ended September 30, 2020 is based on the Company’s estimated annualized effective tax rate for the six-month transition period ending December 31, 2020, adjusted by discrete items recognized during the period. For the three months ended September 30, 2020, the Company’s recognized effective tax rate differs from the U.S. federal statutory rate primarily due to carrying back net operating losses due to the CARES Act. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES”) was enacted. CARES impacted several provisions to the U.S. tax code that have affected our six-month transition period ending December 31, 2020, including, but not limited to, (1) NOL carry-back and carry-forward provisions, (2) deductibility of interest, (3) acceleration of corporate AMT credits, and (4) classification of qualified improvement property. As of the quarter ended September 30, 2020, the Company recognized an income tax net benefit of $20.0 related to the CARES Act, which included an increase in the uncertain tax benefit accrual of $14.3, related to carrying back net operating losses to tax years with higher corporate tax rates than the year the net operating loss originated. The Company will continue to evaluate the application of any and all provisions through the remainder of the six-month transition period ending December 31, 2020. The Company files U.S., foreign and state income tax returns in jurisdictions with various statutes of limitations. The Company is currently under audit by the state of New Jersey for the fiscal years June 30, 2013 through 2017; the state of New York and Massachusetts for the fiscal years June 30, 2014 through 2016; Germany for the fiscal years June 30, 2013 through 2015; and Switzerland for the fiscal years June 30, 2015 through 2016. Annual and interim tax provisions include amounts considered necessary to pay assessments that may result from examination of prior year tax returns; however, the amount ultimately paid upon resolution of issues may differ materially from the amount accrued.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIESThe Company is subject to various claims and legal proceedings covering matters that arise in the ordinary course of its business activities. As of September 30, 2020, the management of the Company believes any reasonably possible liability that may result from the resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, operating results, or cash flows.From time to time, the Company receives recoupment requests from third-party payors for alleged overpayments. The Company disagrees with the contentions of the pending requests or has recorded an estimated reserve for the alleged overpayments.

Segment and Related Information

Segment and Related Information	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment and Related Information	SEGMENT AND RELATED INFORMATIONThe Company’s business is aligned with how the chief operating decision maker reviews performance and makes decisions in managing the Company. The business units have been aggregated into two reportable segments: (i) diagnostics and (ii) other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to ensure optimal treatment, or assess a patient’s risk of disease progression and disease recurrence. The other segment provides testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients, and includes corporate services such as finance, human resources, legal and information technology. Segment revenue and operating income (loss) were as follows during the periods presented: Diagnostics Other Total Three months ended September 30, 2020 Revenues $ 130.5 $ 14.7 $ 145.2 Depreciation and amortization 16.7 1.0 17.7 Segment operating loss (0.3) (39.3) (39.6) Three months ended September 30, 2019 Revenues $ 170.4 $ 15.9 $ 186.3 Depreciation and amortization 16.9 1.3 18.2 Segment operating income (loss) 17.3 (38.2) (20.9) Three months ended 2020 2019 Total operating loss for reportable segments $ (39.6) $ (20.9) Unallocated amounts: Interest income 0.4 0.9 Interest expense (2.9) (2.9) Other (1.6) 0.6 Loss from operations before income taxes (43.7) (22.3) Income tax benefit (28.5) (1.7) Net loss (15.2) (20.6) Net loss attributable to non-controlling interest — — Net loss attributable to Myriad Genetics, Inc. stockholders $ (15.2) $ (20.6)

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Three months ended 2020 2019 Cash paid during the period for income taxes $ 1.3 $ 0.2 Cash paid for interest 2.6 2.8 Establishment of operating lease right-of-use assets and lease liabilities Operating lease right-of-use assets $ — $ 74.5 Operating lease liabilities — (78.8) Accrued liabilities and other long-term liabilities — 4.3

Subsequent Events

Subsequent Events	3 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Change in Fiscal Year On October 9, 2020, the Company’s Board of Directors approved a change in the Company’s fiscal year from a fiscal year ending on the last day of June of each year to a calendar fiscal year ending on the last day of December of each year, effective January 1, 2021. Accordingly, the Company will be issuing financial statements for a six-month transition period ending December 31, 2020 and calendar year financial statements thereafter.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying condensed consolidated financial statements for Myriad Genetics, Inc. and subsidiaries (the “Company” or “Myriad”) have been prepared in accordance with 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 fiscal year ended June 30, 2020. The preparation of financial statements in conformity with U.S. 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. Operating results for the three months ended September 30, 2020 may not necessarily be indicative of results to be expected for any other interim period or for the full year. The full impact of the COVID-19 outbreak continues to evolve and its future impact remains highly uncertain and unpredictable. As such, it is uncertain as to the full magnitude of the effect that the pandemic will have on the Company's financial condition, liquidity, and future results of operations. Management is actively monitoring the impact of the global situation on the Company's financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evaluation of the COVID-19 outbreak and the global responses to curb its spread, the Company is not able to estimate the effects of the COVID-19 outbreak on its results of operations, financial condition, or liquidity for future periods. We have historically experienced seasonality in our testing business. The volume of testing is negatively impacted by the summer season, which is generally reflected in the quarter ended June 30. The quarter ending December 31 is generally strong as we see an increase in volumes from patients who have met their annual insurance deductible. Conversely, the quarter ending March 31 is typically negatively impacted by the annual reset of patient deductibles. Due to the global pandemic, we cannot predict if seasonality will follow the same pattern as in prior years. Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassifications have no impact on the total assets, total liabilities, stockholders’ equity, cash flows from operations, or net loss for the period.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Standards In June 2016, the Financial Accounting Standards Board (the "FASB") issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) (“ASU 2016-13”) which introduces new guidance for the accounting for credit losses on certain instruments within its scope. ASU 2016-13 introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. For trade receivables, the Company is required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which reflects losses that are probable. Credit losses relating to available-for-sale debt securities are also recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. On July 1, 2020, the Company adopted ASU 2016-13 under the modified retrospective approach by initially applying ASU 2016-13 at the adoption date, rather than at the beginning of the earliest comparative period presented. This guidance was adopted with no material impact to the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software, including hosting arrangements that include an internal-use software license. On July 1, 2020, the Company adopted ASU 2018-15 on a prospective basis with no material impact to the Company's consolidated financial statements as of September 30, 2020. The amounts capitalized may be material in future periods; implementation costs incurred in cloud computing arrangements are capitalized as part of the other assets financial statement line item in the consolidated balance sheets. Standards Effective in Future Years and Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASC 2019-12 is a new accounting standard to simplify accounting for income taxes and remove, modify, and add to the disclosure requirements of income taxes. The standard is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Total Revenue by Product and by U.S versus Rest of World	The following table presents detail regarding the composition of our total revenue by product and by U.S. versus rest of world, “RoW”: Three months ended September 30, 2020 2019 (In millions) U.S. RoW Total U.S. RoW Total Molecular diagnostic revenues: Hereditary Cancer Testing $ 72.1 $ 8.5 $ 80.6 $ 100.6 $ 3.9 $ 104.5 Prenatal 16.4 0.1 16.5 23.5 — 23.5 GeneSight 11.9 — 11.9 22.7 — 22.7 Vectra 9.1 — 9.1 11.0 — 11.0 myChoice CDx 7.6 0.2 7.8 1.3 — 1.3 Prolaris 6.4 — 6.4 6.5 — 6.5 EndoPredict 0.4 2.4 2.8 0.5 1.8 2.3 Other 0.6 — 0.6 0.1 0.1 0.2 Total molecular diagnostic revenue 124.5 11.2 135.7 166.2 5.8 172.0 Pharmaceutical and clinical service revenue 9.5 — 9.5 8.5 5.9 14.3 Total revenue $ 134.0 $ 11.2 $ 145.2 $ 174.7 $ 11.7 $ 186.3
Reconciliation of Deferred Revenue Balances	A reconciliation of the beginning and ending balances of deferred revenue is shown in the table below: Three months ended 2020 2019 Deferred revenue - beginning balance $ 32.8 $ 2.2 Revenue recognized (2.3) (0.4) Prepayments 1.8 0.3 Deferred revenue - ending balance $ 32.3 $ 2.1

Marketable Investment Securit_2

Marketable Investment Securities (Tables)	3 Months Ended
	Sep. 30, 2020
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 September 30, 2020 and June 30, 2020 were as follows: Amortized Gross Gross Estimated At September 30, 2020: Cash and cash equivalents: Cash $ 68.3 $ — $ — $ 68.3 Cash equivalents 50.0 — — $ 50.0 Total cash and cash equivalents 118.3 — — 118.3 Available-for-sale: Corporate bonds and notes 40.5 0.6 — 41.1 Municipal bonds 12.6 0.2 — 12.8 Federal agency issues 4.0 0.1 — 4.1 US government securities 14.2 0.1 — 14.3 Total $ 189.6 $ 1.0 $ — $ 190.6 Amortized Gross Gross Estimated At June 30, 2020: Cash and cash equivalents: Cash $ 132.8 $ — $ — $ 132.8 Cash equivalents 30.9 — — 30.9 Total cash and cash equivalents 163.7 — — 163.7 Available-for-sale: Corporate bonds and notes 50.1 0.8 — 50.9 Municipal bonds 17.8 0.2 — 18.0 Federal agency issues 5.5 0.1 — 5.6 US government securities 16.4 0.2 — 16.6 Total $ 253.5 $ 1.3 $ — $ 254.8
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 are as follows at September 30, 2020: Amortized Estimated Cash $ 68.3 $ 68.3 Cash equivalents 50.0 50.0 Available-for-sale: Due within one year 41.8 42.1 Due after one year through five years 29.5 30.2 Due after five years — — Total $ 189.6 $ 190.6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2020
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: Level 1 Level 2 Level 3 Total September 30, 2020 Money market funds (a) $ 50.0 $ — $ — $ 50.0 Corporate bonds and notes — 41.1 — 41.1 Municipal bonds — 12.8 — 12.8 Federal agency issues — 4.1 — 4.1 US government securities — 14.3 — 14.3 Contingent consideration — — (5.9) (5.9) Total $ 50.0 $ 72.3 $ (5.9) $ 116.4 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest. Level 1 Level 2 Level 3 Total June 30, 2020 Money market funds (a) $ 30.9 $ — $ — $ 30.9 Corporate bonds and notes — 50.9 — 50.9 Municipal bonds — 18.0 — 18.0 Federal agency issues — 5.6 — 5.6 US government securities — 16.6 — 16.6 Contingent consideration — — (6.8) (6.8) Total $ 30.9 $ 91.1 $ (6.8) $ 115.2 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest.
Change in Fair Value of Contingent Consideration	The following table reconciles the change in the fair value of the contingent consideration during the periods presented: Carrying Balance June 30, 2020 $ 6.8 Payment of contingent consideration (0.1) Change in fair value recognized in the income statement (1.1) Translation adjustments recognized in other comprehensive loss 0.3 Ending balance September 30, 2020 $ 5.9

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	September 30, June 30, Leasehold improvements $ 32.6 $ 31.8 Equipment 114.1 112.1 146.7 143.9 Less accumulated depreciation (110.0) (106.9) Property, plant and equipment, net $ 36.7 $ 37.0 Three months ended 2020 2019 Depreciation expense $ 2.4 $ 2.9

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the three months ended September 30, 2020, are as follows: Diagnostic Other Total Beginning balance $ 270.7 $ 56.9 $ 327.6 Translation adjustments 0.7 — 0.7 Ending balance $ 271.4 $ 56.9 $ 328.3
Schedule of Amortizable Intangible Assets	The following summarizes the amounts reported as intangible assets: Gross Accumulated Net At September 30, 2020: Purchased licenses and technologies $ 816.6 $ (232.4) $ 584.2 Customer relationships 4.7 (4.4) 0.3 Trademarks 3.0 (1.4) 1.6 Total amortized intangible assets 824.3 (238.2) 586.1 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 829.1 $ (238.2) $ 590.9 Gross Accumulated Net At June 30, 2020: Purchased licenses and technologies $ 815.6 $ (217.1) $ 598.5 Customer relationships 4.6 (4.2) 0.4 Trademarks 3.0 (1.4) 1.6 Total amortized intangible assets 823.2 (222.7) 600.5 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 828.0 $ (222.7) $ 605.3
Schedule of Non-amortizable Intangible Assets	The following summarizes the amounts reported as intangible assets: Gross Accumulated Net At September 30, 2020: Purchased licenses and technologies $ 816.6 $ (232.4) $ 584.2 Customer relationships 4.7 (4.4) 0.3 Trademarks 3.0 (1.4) 1.6 Total amortized intangible assets 824.3 (238.2) 586.1 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 829.1 $ (238.2) $ 590.9 Gross Accumulated Net At June 30, 2020: Purchased licenses and technologies $ 815.6 $ (217.1) $ 598.5 Customer relationships 4.6 (4.2) 0.4 Trademarks 3.0 (1.4) 1.6 Total amortized intangible assets 823.2 (222.7) 600.5 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 828.0 $ (222.7) $ 605.3
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 2020 2019 Amortization of intangible assets $ 15.3 $ 15.3

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	September 30, June 30, Employee compensation and benefits $ 47.2 $ 47.4 Accrued taxes payable 3.5 6.1 Other 14.7 22.4 Total accrued liabilities $ 65.4 $ 75.9

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Amounts outstanding under the Amended Facility and Facility were as follows: September 30, June 30, Long-term debt $ 226.7 $ 226.7 Long-term debt discount (2.1) (2.3) Net long-term debt $ 224.6 $ 224.4

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	3 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Schedule of Other Long-Term Liabilities	September 30, June 30, Contingent consideration $ 2.6 $ 3.7 Other 8.1 4.3 Total other long-term liabilities $ 10.7 $ 8.0

Preferred and Common Stockhol_2

Preferred and Common Stockholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Summary of Common Shares Issued and Outstanding	Common shares issued and outstanding Three months ended Year ended June 30, 2020 2020 Beginning common stock issued and outstanding 74.7 73.5 Common stock issued upon exercise of options, vesting of restricted stock units and employee stock plans 0.5 1.2 Common stock issued and outstanding at end of period 75.2 74.7
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 2020 2019 Denominator: Weighted-average shares outstanding used to compute basic EPS 74.7 73.7 Effect of dilutive shares — — Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 74.7 73.7
Schedule of Anti-Dilutive Options and Restricted Stock Units Excluded from EPS Computation	These potential dilutive common shares, which may be dilutive to future diluted earnings per share, are as follows: Three months ended 2020 2019 Anti-dilutive options and RSUs excluded from EPS computation 7.3 1.7

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of the stock option activity under the Company’s equity plans, including the Company's inducement awards, for the three months ended September 30, 2020 is as follows: Number Weighted Options outstanding at June 30, 2020 4.8 $ 24.47 Options granted 0.7 $ 13.38 Less: Options exercised — $ — Options canceled or expired (0.1) $ 16.40 Options outstanding at September 30, 2020 5.4 $ 23.19 Options exercisable at September 30, 2020 4.7 $ 24.62
Schedule of Restricted Stock Unit Activity	A summary of the RSU activity under the Company’s plans, including the Company's inducement awards and RSU awards with performance metrics, for the three months ended September 30, 2020 is as follows: Number Weighted RSUs outstanding at June 30, 2020 2.3 $ 32.50 RSUs granted 0.4 $ 13.24 Less: RSUs vested (0.8) $ 33.07 RSUs canceled — $ — RSUs outstanding at September 30, 2020 1.9 $ 27.70
Schedule of Share-Based Compensation Expense	Share-based compensation expense recognized and included in the condensed consolidated statements of operations and comprehensive loss was allocated as follows: Three months ended 2020 2019 Cost of molecular diagnostic testing $ 0.3 $ 0.2 Cost of pharmaceutical and clinical services 0.1 0.1 Research and development expense 1.3 1.5 Selling, general, and administrative expense 6.7 7.0 Total share-based compensation expense $ 8.4 $ 8.8

Segment and Related Informati_2

Segment and Related Information (Tables)	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Revenue and Operating Income (Loss)	Segment revenue and operating income (loss) were as follows during the periods presented: Diagnostics Other Total Three months ended September 30, 2020 Revenues $ 130.5 $ 14.7 $ 145.2 Depreciation and amortization 16.7 1.0 17.7 Segment operating loss (0.3) (39.3) (39.6) Three months ended September 30, 2019 Revenues $ 170.4 $ 15.9 $ 186.3 Depreciation and amortization 16.9 1.3 18.2 Segment operating income (loss) 17.3 (38.2) (20.9) Three months ended 2020 2019 Total operating loss for reportable segments $ (39.6) $ (20.9) Unallocated amounts: Interest income 0.4 0.9 Interest expense (2.9) (2.9) Other (1.6) 0.6 Loss from operations before income taxes (43.7) (22.3) Income tax benefit (28.5) (1.7) Net loss (15.2) (20.6) Net loss attributable to non-controlling interest — — Net loss attributable to Myriad Genetics, Inc. stockholders $ (15.2) $ (20.6)

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Three months ended 2020 2019 Cash paid during the period for income taxes $ 1.3 $ 0.2 Cash paid for interest 2.6 2.8 Establishment of operating lease right-of-use assets and lease liabilities Operating lease right-of-use assets $ — $ 74.5 Operating lease liabilities — (78.8) Accrued liabilities and other long-term liabilities — 4.3

Revenue - Total Revenue by Prod

Revenue - Total Revenue by Product and by US versus Rest of World (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 145.2	$ 186.3
U.S.
Disaggregation of Revenue [Line Items]
Total revenue	134	174.7
RoW
Disaggregation of Revenue [Line Items]
Total revenue	11.2	11.7
Molecular diagnostic - Hereditary Cancer Testing
Disaggregation of Revenue [Line Items]
Total revenue	80.6	104.5
Molecular diagnostic - Hereditary Cancer Testing | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	72.1	100.6
Molecular diagnostic - Hereditary Cancer Testing | RoW
Disaggregation of Revenue [Line Items]
Total revenue	8.5	3.9
Molecular diagnostic - Prenatal
Disaggregation of Revenue [Line Items]
Total revenue	16.5	23.5
Molecular diagnostic - Prenatal | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	16.4	23.5
Molecular diagnostic - Prenatal | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0.1	0
Molecular diagnostic - GeneSight
Disaggregation of Revenue [Line Items]
Total revenue	11.9	22.7
Molecular diagnostic - GeneSight | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	11.9	22.7
Molecular diagnostic - GeneSight | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Molecular diagnostic - Vectra
Disaggregation of Revenue [Line Items]
Total revenue	9.1	11
Molecular diagnostic - Vectra | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	9.1	11
Molecular diagnostic - Vectra | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Molecular diagnostic - myChoice CDx
Disaggregation of Revenue [Line Items]
Total revenue	7.8	1.3
Molecular diagnostic - myChoice CDx | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	7.6	1.3
Molecular diagnostic - myChoice CDx | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0.2	0
Molecular diagnostic - Prolaris
Disaggregation of Revenue [Line Items]
Total revenue	6.4	6.5
Molecular diagnostic - Prolaris | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	6.4	6.5
Molecular diagnostic - Prolaris | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Molecular diagnostic - EndoPredict
Disaggregation of Revenue [Line Items]
Total revenue	2.8	2.3
Molecular diagnostic - EndoPredict | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	0.4	0.5
Molecular diagnostic - EndoPredict | RoW
Disaggregation of Revenue [Line Items]
Total revenue	2.4	1.8
Molecular diagnostic - Other
Disaggregation of Revenue [Line Items]
Total revenue	0.6	0.2
Molecular diagnostic - Other | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	0.6	0.1
Molecular diagnostic - Other | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0	0.1
Molecular diagnostic testing
Disaggregation of Revenue [Line Items]
Total revenue	135.7	172
Molecular diagnostic testing | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	124.5	166.2
Molecular diagnostic testing | RoW
Disaggregation of Revenue [Line Items]
Total revenue	11.2	5.8
Pharmaceutical and clinical services
Disaggregation of Revenue [Line Items]
Total revenue	9.5	14.3
Pharmaceutical and clinical services | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	9.5	8.5
Pharmaceutical and clinical services | RoW
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 5.9

Revenue - Reconciliation of Def

Revenue - Reconciliation of Deferred Revenue Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Reconciliation of Deferred Revenue
Deferred revenue - beginning balance	$ 32.8	$ 2.2
Revenue recognized	(2.3)	(0.4)
Prepayments	1.8	0.3
Deferred revenue - ending balance	$ 32.3	$ 2.1

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Advance Medicare payments to provide relief from economic impacts of COVID-19			$ 29,700,000
Revenue, practical expedient, remaining performance obligation, description	In accordance with ASU 2014-09, 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 Company’s performance to date. However, the Company periodically enters into arrangements with customers to provide diagnostic testing and/or pharmaceutical and clinical services that may have terms longer than one year and include multiple performance obligations.
Revenue, practical expedient, remaining performance obligation	true
Revenue, remaining performance obligation	$ 2,800,000
Accrued refund liability	$ 2,200,000
Revenue practical expedient, incremental cost of obtaining contract	true
Capitalized costs incurred to obtain or fulfill contract	$ 0
Revenues | Medicare
Concentration Risk [Line Items]
Concentration risk (percent)	16.00%	14.00%

Marketable Investment Securit_3

Marketable Investment Securities - Fair Value for Available-for-Sale Securities by Major Security Type and Class of Security (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Cash and cash equivalents:
Cash and cash equivalents, Amortized cost	$ 118.3	$ 163.7
Cash and cash equivalents, Estimated fair value	118.3	163.7
Total:
Total, Amortized cost	189.6	253.5
Total, Gross unrealized holding gains	1	1.3
Total, Gross unrealized holding losses	0	0
Total, Estimated fair value	190.6	254.8
Cash
Cash and cash equivalents:
Cash and cash equivalents, Amortized cost	68.3	132.8
Cash and cash equivalents, Estimated fair value	68.3	132.8
Cash equivalents
Cash and cash equivalents:
Cash and cash equivalents, Amortized cost	50	30.9
Cash and cash equivalents, Estimated fair value	50	30.9
Corporate bonds and notes
Available-for-sale:
Available-for-sale, Amortized cost	40.5	50.1
Available-for-sale, Gross unrealized holding gains	0.6	0.8
Available-for-sale, Gross unrealized holding losses	0	0
Available-for-sale, Estimated fair value	41.1	50.9
Municipal bonds
Available-for-sale:
Available-for-sale, Amortized cost	12.6	17.8
Available-for-sale, Gross unrealized holding gains	0.2	0.2
Available-for-sale, Gross unrealized holding losses	0	0
Available-for-sale, Estimated fair value	12.8	18
Federal agency issues
Available-for-sale:
Available-for-sale, Amortized cost	4	5.5
Available-for-sale, Gross unrealized holding gains	0.1	0.1
Available-for-sale, Gross unrealized holding losses	0	0
Available-for-sale, Estimated fair value	4.1	5.6
US government securities
Available-for-sale:
Available-for-sale, Amortized cost	14.2	16.4
Available-for-sale, Gross unrealized holding gains	0.1	0.2
Available-for-sale, Gross unrealized holding losses	0	0
Available-for-sale, Estimated fair value	$ 14.3	$ 16.6

Marketable Investment Securit_4

Marketable Investment Securities - Cash, Cash Equivalents, and Maturities of Debt Securities Classified as Available-For-Sale Securities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Amortized cost
Cash and cash equivalents	$ 118.3	$ 163.7
Available-for-sale, Due within one year	41.8
Available-for-sale, Due after one year through five years	29.5
Available-for-sale, Due after five years	0
Total, Amortized cost	189.6	253.5
Estimated fair value
Cash and cash equivalents	118.3	163.7
Available-for-sale, Due within one year	42.1
Available-for-sale, Due after one year through five years	30.2
Available-for-sale, Due after five years	0
Total, Estimated fair value	190.6	254.8
Cash
Amortized cost
Cash and cash equivalents	68.3	132.8
Estimated fair value
Cash and cash equivalents	68.3	132.8
Cash equivalents
Amortized cost
Cash and cash equivalents	50	30.9
Estimated fair value
Cash and cash equivalents	$ 50	$ 30.9

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - Level 3 $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of long-term debt	$ 226.5
Measurement input, expected term
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement period for earn out liability	9 years 3 months

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 116.4	$ 115.2
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	50	30.9
Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	41.1	50.9
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	12.8	18
Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	4.1	5.6
US government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	14.3	16.6
Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	(5.9)	(6.8)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	50	30.9
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	50	30.9
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 | US 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	72.3	91.1
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	41.1	50.9
Level 2 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	12.8	18
Level 2 | Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	4.1	5.6
Level 2 | US government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	14.3	16.6
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	(5.9)	(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 | US 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	$ (5.9)	$ (6.8)

Fair Value Measurements - Chang

Fair Value Measurements - Change in Fair Value of Contingent Consideration (Details) $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)
Reconciliation of change in fair value of contingent consideration
Beginning balance	$ 6.8
Payment of contingent consideration	(0.1)
Change in fair value recognized in the income statement	(1.1)
Translation adjustments recognized in other comprehensive income	0.3
Ending balance	$ 5.9

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Balances (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Leasehold improvements	$ 32.6	$ 31.8
Equipment	114.1	112.1
Property, plant and equipment, gross	146.7	143.9
Less accumulated depreciation	(110)	(106.9)
Property, plant and equipment, net	$ 36.7	$ 37

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Depreciation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2.4	$ 2.9

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Goodwill (Details) $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 327.6
Translation adjustments	0.7
Ending balance	328.3
Diagnostics
Goodwill [Roll Forward]
Beginning balance	270.7
Translation adjustments	0.7
Ending balance	271.4
Other
Goodwill [Roll Forward]
Beginning balance	56.9
Translation adjustments	0
Ending balance	$ 56.9

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summarized Amounts Reported as Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable	$ 824.3	$ 823.2
Accumulated Amortization	(238.2)	(222.7)
Net, amortizable	586.1	600.5
Non-amortizable	4.8	4.8
Gross Carrying Amount, total	829.1	828
Net, total	590.9	605.3
Purchased licenses and technologies
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable	816.6	815.6
Accumulated Amortization	(232.4)	(217.1)
Net, amortizable	584.2	598.5
Customer relationships
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable	4.7	4.6
Accumulated Amortization	(4.4)	(4.2)
Net, amortizable	0.3	0.4
Trademarks
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable	3	3
Accumulated Amortization	(1.4)	(1.4)
Net, amortizable	1.6	1.6
In-process research and development
Intangible Assets [Line Items]
Non-amortizable	$ 4.8	$ 4.8

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Amortization on Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 15.3	$ 15.3

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 47.2	$ 47.4
Accrued taxes payable	3.5	6.1
Other	14.7	22.4
Total accrued liabilities	$ 65.4	$ 75.9

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	Jul. 01, 2021	Jul. 31, 2018	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	May 01, 2020	Dec. 23, 2016
Debt Instrument [Line Items]
Aggregate principal amount of loan				$ 226,700,000	$ 226,700,000
Net long-term debt				224,600,000	$ 224,400,000
Revolving credit facility
Debt Instrument [Line Items]
Maximum aggregate principal commitment							$ 300,000,000
Revolving credit facility | Amended Facility
Debt Instrument [Line Items]
Maturity date		Jul. 31, 2023
Maximum aggregate principal commitment		$ 350,000,000
Aggregate principal amount of loan		300,000,000
Upfront fees		1,800,000				$ 1,000,000
Debt issuance costs		$ 300,000
Net long-term debt				224,600,000
Scheduled principal payments prior to maturity date				$ 0
Interest rate (percent)				4.50%
Revolving credit facility | Amended Facility | Forecast
Debt Instrument [Line Items]
Undrawn fee (percent)			0.50%
LIBOR floor (percent)			1.00%
Revolving credit facility | Amended Facility | Forecast | Minimum
Debt Instrument [Line Items]
Undrawn fee (percent)	0.25%
Revolving credit facility | Amended Facility | Forecast | Maximum
Debt Instrument [Line Items]
Undrawn fee (percent)	0.45%
Revolving credit facility | Amended Facility | LIBOR | Forecast
Debt Instrument [Line Items]
Basis spread on rate (percent)	2.00%		3.50%

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Long-term Debt, Unclassified [Abstract]
Long-term debt	$ 226.7	$ 226.7
Long-term debt discount	(2.1)	(2.3)
Net long-term debt	$ 224.6	$ 224.4

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Other Liabilities Disclosure [Abstract]
Contingent consideration	$ 2.6	$ 3.7
Other	8.1	4.3
Total other long-term liabilities	$ 10.7	$ 8

Preferred and Common Stockhol_3

Preferred and Common Stockholders' Equity - Narrative (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2017
Class of Stock [Line Items]
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)	75,200,000		74,700,000	73,500,000
Common stock, outstanding (shares)	75,200,000		74,700,000	73,500,000
Share repurchase program, remaining authorized repurchase amount	$ 110,700,000
Shares repurchased	0	0
Eighth Share Repurchase Program
Class of Stock [Line Items]
Share repurchase program, authorized amount					$ 200,000,000

Preferred and Common Stockhol_4

Preferred and Common Stockholders' Equity - Common Shares Issued and Outstanding (Details) - shares shares in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Common shares issued and outstanding
Beginning common stock issued	74.7	73.5
Beginning common stock outstanding	74.7	73.5
Common stock issued upon exercise of options, vesting of restricted stock units and employee stock plans	0.5	1.2
Common stock issued at end of period	75.2	74.7
Common stock outstanding at end of period	75.2	74.7

Preferred and Common Stockhol_5

Preferred and Common Stockholders' Equity - Reconciliation of Denominators of Basic and Diluted Earnings Per Share Computations (Details) - shares shares in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Equity [Abstract]
Weighted-average shares outstanding used to compute basic EPS	74.7	73.7
Effect of dilutive shares	0	0
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS	74.7	73.7

Preferred and Common Stockhol_6

Preferred and Common Stockholders' Equity - Potentially Dilutive Common Shares Excluded from EPS Computation (Details) - shares shares in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Equity [Abstract]
Anti-dilutive options and RSUs excluded from EPS computation	7.3	1.7

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)shares
Share-Based Compensation [Line Items]
Unrecognized share-based compensation expense related to stock options | $	$ 5.2
Stock options
Share-Based Compensation [Line Items]
Service period for award vesting (in years)	4 years
Weighted-average period for recognition of share-based compensation expense (in years)	2 years 9 months 18 days
Stock options | Awards granted after December 5, 2012
Share-Based Compensation [Line Items]
Award expiration period (in years)	8 years
Stock options | Awards granted prior to December 5, 2012
Share-Based Compensation [Line Items]
Award expiration period (in years)	10 years
RSUs
Share-Based Compensation [Line Items]
Service period for award vesting (in years)	4 years
Unrecognized share-based compensation expense related to RSUs | $	$ 44.1
Weighted-average period for recognition of share-based compensation expense (in years)	2 years 6 months
Options and RSUs | Non-employee director
Share-Based Compensation [Line Items]
Service period for award vesting (in years)	1 year
2003 Plan | Stock options
Share-Based Compensation [Line Items]
Shares available for future grant	100,000
2010 Plan | Options and RSUs
Share-Based Compensation [Line Items]
Shares available for future grant	4,800,000
2012 Employee Stock Purchase Plan
Share-Based Compensation [Line Items]
Number of shares authorized	2,000,000
Shares available for issuance under the Plan	300,000

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) shares in Millions	3 Months Ended
	Sep. 30, 2020$ / sharesshares
Options, Number of shares
Options outstanding, beginning (shares) | shares	4.8
Options granted (shares) | shares	0.7
Options exercised (shares) | shares	0
Options canceled or expired (shares) | shares	(0.1)
Options outstanding, ending (shares) | shares	5.4
Options exercisable at end of period (shares) | shares	4.7
Options, Weighted average exercise price
Options outstanding, beginning (dollars per share) | $ / shares	$ 23.19
Options granted (dollars per share) | $ / shares	13.38
Options exercised (dollars per share) | $ / shares	0
Options canceled or expired (dollars per share) | $ / shares	16.40
Options outstanding, ending (dollars per share) | $ / shares	24.47
Options exercisable at end of period (dollars per share) | $ / shares	$ 24.62

Share-Based Compensation - RSU

Share-Based Compensation - RSU Activity (Details) - RSUs shares in Millions	3 Months Ended
	Sep. 30, 2020$ / sharesshares
RSUs, Number of shares
RSUs outstanding, beginning (shares) | shares	2.3
RSUs granted (shares) | shares	0.4
RSUs vested (shares) | shares	(0.8)
RSUs canceled (shares) | shares	0
RSUs outstanding, ending (shares) | shares	1.9
RSUs, Weighted average grant date fair value
RSUs outstanding, beginning (dollars per share) | $ / shares	$ 32.50
RSUs granted (dollars per share) | $ / shares	13.24
RSUs vested (dollars per share) | $ / shares	33.07
RSUs canceled (dollars per share) | $ / shares	0
RSUs outstanding, ending (dollars per share) | $ / shares	$ 27.70

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	$ 8.4	$ 8.8
Cost of molecular diagnostic testing
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	0.3	0.2
Cost of pharmaceutical and clinical services
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	0.1	0.1
Research and development expense
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	1.3	1.5
Selling, general, and administrative expense
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	$ 6.7	$ 7

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Contingency [Line Items]
Income tax benefit	$ (28.5)	$ (1.7)
Approximate rate on pre-tax income	65.20%	7.60%
Income tax net benefit related to CARES Act	$ 20
Increase in uncertain tax benefit accrual, CARES Act	$ 14.3
State | New Jersey | Earliest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2013
State | New Jersey | Latest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2017
State | New York | Earliest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2014
State | New York | Latest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2016
State | Massachusetts | Earliest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2014
State | Massachusetts | Latest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2016
Foreign | Germany | Earliest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2013
Foreign | Germany | Latest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2015
Foreign | Switzerland | Earliest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2015
Foreign | Switzerland | Latest tax year
Income Tax Contingency [Line Items]
Tax year being audited in income tax examination	2016

Segment and Related Informati_3

Segment and Related Information - Narrative (Details)	3 Months Ended
	Sep. 30, 2020segment
Segment Reporting [Abstract]
Number of reportable segment	2

Segment and Related Informati_4

Segment and Related Information - Segment Revenue and Operating Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 145.2	$ 186.3
Depreciation and amortization	17.7	18.2
Segment operating income (loss)	(39.6)	(20.9)
Diagnostics
Segment Reporting Information [Line Items]
Revenues	130.5	170.4
Depreciation and amortization	16.7	16.9
Segment operating income (loss)	(0.3)	17.3
Other
Segment Reporting Information [Line Items]
Revenues	14.7	15.9
Depreciation and amortization	1	1.3
Segment operating income (loss)	$ (39.3)	$ (38.2)

Segment and Related Informati_5

Segment and Related Information - Total Operating Income (Loss) for Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting [Abstract]
Total operating loss for reportable segments	$ (39.6)	$ (20.9)
Interest income	0.4	0.9
Interest expense	(2.9)	(2.9)
Other	(1.6)	0.6
Loss before income tax	(43.7)	(22.3)
Income tax benefit	(28.5)	(1.7)
Net loss	(15.2)	(20.6)
Net loss attributable to non-controlling interest	0	0
Net loss attributable to Myriad Genetics, Inc. stockholders	$ (15.2)	$ (20.6)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash paid during the period for income taxes	$ 1.3	$ 0.2
Cash paid for interest	$ 2.6	2.8
ASU 2016-02
Establishment of operating lease right-of-use assets and lease liabilities
Operating lease right-of-use assets		74.5
Operating lease liabilities		(78.8)
Accrued liabilities and other long-term liabilities		$ 4.3