Myriad Genetics, Inc.

Good day, and thank you for standing by. Welcome to the Marriott Genetics 4th Quarter 2024 Financial Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising that your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our speaker today, Matt Scalo. Please go ahead.

Thanks, LaTanya. And good afternoon, and welcome to the Myriad Genetics fourth quarter and full year 2024 earnings call. During the call, we will review the financial results we released today, and afterwards, we will host a question and answer session. Our quarterly earnings release was issued this afternoon on Form 8K, and can be found on our website at investor.merit.com. I'm Matt Scalo, Senior Vice President of Investor Relations, and on the call with me today are Paul Diaz, our President and Chief Executive Officer, Scott Leffler, our Chief Financial Officer, Sam Raha, our Chief Operating Officer, and Mark Verratti, our Chief Commercial Officer. This call can be heard live via webcast at investor.merit.com, and a recording will be archived in the Investor section of our website along with this slide presentation. Please note that some of the information presented today contains projections or other forward-looking statements regarding future events or the future financial performance of the company. These statements are based on management's current expectations, and the actual events or results may differ materially and adversely from these expectations for a variety of reasons. We refer you to the documents the company files from time to time with the SEC, specifically the company's annual report on Form 10-K, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. These documents identify important risk factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. And now I'll turn the call over to our CEO, Paul Diaz.

Thanks, Matt. Good afternoon, everyone, and thank you for joining us. On today's call, we will discuss our fourth quarter and full year performance and provide an update on the progress we continue to make to accelerate profitable revenue growth and innovation in advanced diagnostics. First, I want to thank my myriad teammates and our provider partners for their continued support and commitment to advancing our mission and vision to make genetic testing and precision medicine more accessible to help people take more control of their health. Delivering on our mission would not be possible without our Myriad teammates, who continue to recognize our company as a great place to work, with approximately 84% of our teammates rating us as such. Additionally, Forbes recently named Myriad in its list of best employers for 2025. Most everyone you meet at Myriad loves what they do, and we see it played out daily as our teammates go above and beyond to serve our provider partners and their patients. This is reinforced by our strong 72 net promoter score, which captures how different external groups from providers to payers score their interactions with Myriad. Our active pipeline of innovative and clinically relevant products is supported by the clinical studies and data that we continue to produce as an accelerated rate. As we continue to invest to bring new science to the marketplace, we continue to maintain industry-leading margins achieves profitability, and are seeing growth across the enterprise. I want to now highlight the progress that MiraGenetics has made over the past five years. We're a very different company than when we started this journey in 2020, and our proven ability to innovate, grow organically, and reach profitability has set us apart from many of our respected peers in the industry. Top-tier science and innovation are at the foundation of MiraGenetics as we deliver clinically differentiated products supported by technology, to deliver value in real-world clinical settings and enable early detection and better treatment decisions for providers and their patients. Combining our mission and vision with expertise in our lab operations and our technical capabilities, together with our in-depth regulatory compliance and revenue cycle management, we find ourselves in a position to serve our customers at scale and profitably. We continue to deliver our commitment to shareholders as we achieve 11% revenue growth in 2024 as compared to 2023, reflecting both volume and revenue per test improvements across the portfolio. Our focus on profitable growth continues as we generated approximately $589 million in adjusted gross profits, $40 million of adjusted EBITDA, positive adjusted EPS of $0.14, and maintained approximately 158 million in liquidity in 2024. Continued execution of our strategic priorities and commercial growth strategy support our long-term financial targets, which together with our recent and new pending product launches give us the confidence we can accelerate growth in 2026 and beyond. Today, we announced an exclusive partnership with Pathomic to apply their advanced AI technology platform to our suite of oncology products. enabling Myriad to provide urologists and radiation oncologists with molecular and AI-powered testing solutions to inform decisions both before treatment, at the time of biopsy for active surveillance, and following surgery or radiation treatment. This complements Myriad's existing offerings of combining germline and comprehensive tumor profiling as recommended by NCCN guidelines for prostate cancer care. With that, I'll now turn the call over to Sam.