On May 5, 2026 Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostic testing and precision medicine, reported financial results for its first quarter ended March 31, 2026, and reaffirmed its financial guidance for the full-year 2026.

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"We are seeing strong performance across a number of key areas, including the Cancer Care Continuum as we begin to realize a return on our focused strategy. We have implemented a dedicated hereditary cancer sales force and other key programs designed to support the expected continued growth in germline testing. And with decisive steps taken to address our Prenatal Health business, we expect improved performance in the remainder of 2026," said Sam Raha, President and CEO, Myriad Genetics. "Our limited launch of Precise MRD for breast cancer patients has received positive early feedback and we remain on track with our other planned launches in 2026, as part of our milestone-rich year. We are confident these tests will be important drivers of our growth in 2027 and beyond."

Financial and Operational Highlights
•Test volumes of 385,000 in the first quarter of 2026 were stable year-over-year.
•The following table summarizes year-over-year testing volume changes in the company’s core product categories:
Three Months Ended March 31,
(in thousands) 2026 2025 % Change
Product volumes:
Cancer Care Continuum 96 85 13 %
Prenatal Health 153 173 (12) %
Mental Health 136 127 7 %
Total 385 385 — %

•The following table summarizes year-over-year revenue changes in the company’s core product categories:
Three Months Ended March 31,
(in millions)
2026 2025 % Change
Product revenues:
Cancer Care Continuum $ 120.2 $ 115.6 4 %
Prenatal Health 41.9 49.3 (15) %
Mental Health 38.3 31.0 24 %
Total $ 200.4 $ 195.9 2 %

Product Categories:
Cancer Care Continuum – MyRisk, BRACAnalysis CDx, MyChoice CDx, Prolaris, Precise Tumor, Precise MRD
Prenatal Health – Foresight, Prequel, FirstGene, SneakPeek
Mental Health – GeneSight

•Operating expenses in the first quarter of 2026 were $168.3 million, increasing $5.1 million year-over-year. Adjusted operating expenses in the first quarter of 2026 increased $7.9 million year-over-year to $148.5 million, partially reflecting the company’s progress in its multi-year investment program in key strategic areas.
•Operating loss in the first quarter of 2026 was $30.7 million.

Cash Flow and Liquidity
First quarter 2026 cash flow used in operations was $15.7 million; adjusted operating cash outflow in the first quarter of 2026 was $13.4 million. Capital expenditures and capitalization of internal use software costs totaled $6.5 million in the first quarter 2026 resulting in adjusted free cash flow of $(19.9) million in the first quarter of 2026.

As of the end of the first quarter of 2026, the company had cash and cash equivalents of $124.4 million.

Business Performance and Highlights
Cancer Care Continuum
The Cancer Care Continuum business delivered revenue of $120.2 million in the first quarter of 2026.
•First quarter 2026 hereditary cancer testing revenue increased 5% year-over-year driven by a 14% year-over-year increase in volume.
•First quarter 2026 Prolaris testing revenue grew 3% year-over-year. The company continues to make progress on its first AI-enabled prostate cancer test, in partnership with PATHOMIQ, and expects to launch the test in the second quarter of 2026.
•In April 2026, the company shared new data at a number of annual clinical society meetings, including the American Association for Cancer Research (AACR) (Free AACR Whitepaper) and the Society of Gynecologic Oncology (SGO) underscoring Myriad Genetics’ commitment to the Cancer Care Continuum and highlighting its progress in precision oncology. For example, data from one poster presentation showed that Precise MRD testing after adjuvant therapy for ovarian cancer is significantly prognostic of recurrence and that elevated risk was observed even at ctDNA levels detectable only by an ultrasensitive assay. The company believes this data reinforces the scientific strength behind the company’s precision oncology programs and focus on advancing clinically meaningful innovations for patients and providers.
•In April 2026, Myriad Genetics received approval from Japan’s Ministry of Health, Labour and Welfare (MHLW) for the use of the MyChoice CDx test for prostate cancer patients as a companion diagnostic for Lynparza(olaparib). With this approval, clinicians in Japan can now order the MyChoice CDx test to determine homologous recombination deficiency (HRD) status for patients with ovarian cancer, and BRCA1/2 status for breast and prostate cancers.

Prenatal Health
The Prenatal Health business delivered revenue of $41.9 million in the first quarter of 2026.
•Prenatal testing revenue in the first quarter of 2026 declined 15% year-over-year, as volume decreased 12% year-over-year reflecting a difficult year-over-year comparison as the company continues to engage with customers and address the disruption caused by the Q2 ’25 implementation of the company’s new order management system.
•In April 2026, a national payor updated its medical policy to cover expanded carrier screen tests, like the Company’s Foresight Universal Plus test.
•The multi-site CONNECTOR study, using the company’s FirstGene Multiple Prenatal Screen, continues to see progress in enrollment and the Company expects this study, if successful, to support future commercial launch activities and expand capabilities in prenatal testing.

Mental Health
GeneSight test revenue was $38.3 million in the first quarter of 2026.
•First quarter 2026 revenue grew 24% year-over-year reflecting 7% GeneSight volume growth, and overall improved reimbursement trends.

Financial Guidance
Myriad Genetics does not provide forward-looking guidance in accordance with accounting principles generally accepted in the United States (GAAP) for the measures on which it provides forward-looking non-GAAP guidance as the company is unable to provide a quantitative reconciliation of forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measure, without unreasonable effort, because of the inherent difficulty in accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliations that have not yet occurred, are dependent on various factors, are out of the company’s control, or cannot be reasonably predicted. Such adjustments include, but are not limited to, strategic realignment, costs related to amortization of intangibles from acquisitions, impairment and related charges, depreciation, equity compensation, tax benefits, and other adjustments. For example, stock-based compensation may fluctuate based on the timing of employee stock transactions and unpredictable fluctuations in the company’s stock price. Any associated estimate of these items and their impact on GAAP performance could vary materially.

Below is a table summarizing Myriad Genetics’ full-year 2026 financial guidance*:

(in millions, except percentages)
2026 Guidance
FY 2026 Comments
Revenue $860 – $880
Reiterate the full year 2026 revenue range, reflecting current business trends.

Expect 2H’26 revenue to be greater than 1H’26
Adjusted Gross Margin %**
68% – 69% Gross margins expected to fluctuate quarter to quarter given product mix and pricing trends.
Adjusted EBITDA***
$37 – $49

*
Assumes currency rates as of May 5, 2026.
**
Adjusted Gross Margin is defined as Gross Margin plus non-cash cost of sales, such as amortization of intangible assets and share-based compensation expense, and non-recurring one-time expenses.
***
Adjusted EBITDA is defined as Net income (loss) plus income tax expense (benefit), total other income (expense), non-cash operating expenses, such as amortization of intangible assets, depreciation, impairment of goodwill and long-lived assets, and share-based compensation expense, and one-time expenses such as expenses from strategic realignment..

These projections are forward-looking statements and are subject to the risks summarized in the safe harbor statement at the end of this press release.

Conference Call and Webcast
A conference call will be held today, Tuesday, May 5, 2026, at 4:30 p.m. ET to discuss Myriad Genetics’ financial results and business developments for the first quarter of 2026. A live webcast of the conference call can be accessed on Myriad Genetics’ Investor Relations website at investor.myriad.com. To participate in the live conference call via telephone, please register at View Source Upon registering, a dial-in number and unique PIN will be provided to join the conference call. Following the conference call, an archived webcast of the call will be available at investor.myriad.com.

(Press release, Myriad Genetics, MAY 5, 2026, View Source [SID1234665124])