Myriad Genetics Inc (MYGN)

Gross profit margin

		Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Gross profit (ttm)	US$ in thousands	116,700	33,100	3,900	-190,500	-127,800	17,200	96,500	317,700	274,600	254,600	231,400	100	11,000	-97,900	-65,600	-36,200	43,500	185,500	206,900	230,000
Revenue (ttm)	US$ in thousands	794,900	766,400	745,400	731,500	696,200	691,900	675,200	820,600	831,200	839,900	846,300	666,200	590,100	564,400	586,600	627,900	750,000	801,700	822,500	840,100
Gross profit margin		14.68%	4.32%	0.52%	-26.04%	-18.36%	2.49%	14.29%	38.72%	33.04%	30.31%	27.34%	0.02%	1.86%	-17.35%	-11.18%	-5.77%	5.80%	23.14%	25.16%	27.38%

June 30, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $116,700K ÷ $794,900K
= 14.68%

Myriad Genetics Inc's gross profit margin has displayed significant fluctuations over the past few quarters. The company experienced a sharp increase in its gross profit margin from December 2022 to March 2023, reaching 14.29%. However, this positive trend was short-lived as the margin dropped to 2.49% in June 2023, indicating a notable decline in profitability.

Subsequently, the company faced challenges in maintaining a healthy gross profit margin, with negative margins recorded in September 2023 and December 2023 at -26.04% and 0.52% respectively. This suggests that the company's cost of goods sold exceeded its revenues during these periods, impacting profitability.

The financial performance improved in the first half of 2024, with a gross profit margin of 4.32% in March 2024 and a further increase to 14.68% in June 2024. While these figures show a positive trajectory, they are still relatively low compared to historical levels.

Overall, the fluctuating trend in Myriad Genetics Inc's gross profit margin indicates volatility in the company's ability to generate profits from its core operations. It is imperative for the company to closely monitor and manage its cost structure and pricing strategies to enhance profitability and ensure sustainable performance in the future.