MYGN · Myriad Genetics, Inc.

Myriad Genetics’ Q1 2026 results reflect a mixed but strategically directional performance: top-line growth (+2% YoY to $200.4M) was achieved despite a 12% YoY decline in Prenatal Health volume, underscoring successful diversification into higher-growth segments. Cancer Care Continuum delivered $120.2M in revenue (+4% YoY) on 13% volume growth — driven by hereditary cancer testing (+14% volume, +5% revenue) and new product traction, including the limited launch of Precise MRD and FDA approval of MyChoice CDx for Zejula®. Mental Health revenue surged 24% YoY to $38.3M, supported by 7% volume growth and improved reimbursement. Gross margin expanded modestly (+20 bps to 68.7%), reflecting pricing discipline and product mix, though operating expenses rose $5.1M YoY to $168.3M, partly due to strategic investments. The $34.1M GAAP net loss includes a $5.4M goodwill impairment charge — a non-recurring item excluded from adjusted metrics — resulting in adjusted EBITDA of $(4.5)M. Management reaffirmed full-year 2026 guidance ($860–$880M revenue; $37–$49M adjusted EBITDA), citing anticipated acceleration in the second half, driven by continued Cancer Care Continuum momentum, upcoming AI-enabled prostate cancer test launch (Q2 2026), and improving Prenatal Health execution post-order system stabilization. Liquidity remains adequate ($124.4M cash), supporting ongoing R&D and commercial initiatives without near-term financing risk.