Myriad Genetics Stock Earnings Reports

Myriad reported Q1 2026 revenue of $200.4M (within guidance) with 385k test results delivered. Key growth drivers were hereditary cancer testing (14% volume growth year-over-year; affected +10%, unaffected +16%) and GeneSight (revenue +24% YoY on 7% volume growth). Gross margin was ~69% (in line with guidance). The company posted an adjusted EBITDA loss of ~$4.5M and adjusted EPS loss of $0.09 for Q1, but reaffirmed full-year 2026 guidance: revenue $860–880M, adjusted gross margin 68–69%, and adjusted EBITDA $37–49M. Management is prioritizing the Cancer Care Continuum, making strategic investments (including ~$35M over the next several years in commercial capabilities), and has expanded the salesforce by ~100 account executives to support upcoming launches. Product and commercialization updates: alpha launch of Precise MRD for breast cancer shows promising assay performance, clinician satisfaction, and early utilization; management is accelerating select CRC and renal MRD rollouts into Q3 and targeting full commercial MRD launch in Q1 2027. Prolaris+AI is on track for a June launch and FirstGene (a combined prenatal screen) remains on track for full commercial launch in H2 2026 and is expected to be accretive to prenatal ASPs. Prenatal NIPT revenue was down 15% YoY in Q1 but management expects stabilization and recovery in H2 driven by account reactivation and FirstGene. The company has ~$199M in available capital and says investments are being balanced with a commitment to profitable growth.