Myriad Genetics, Inc. (NASDAQ: MYGN) delivered first-quarter 2026 revenue of $200.4 million, marking a 2% increase year-over-year amid stable test volumes.7572 The company reported a GAAP net loss of $34.1 million, or $0.36 per share, with adjusted loss per share at $0.09 and gross margin expanding to 68.7%.75 Executives hosted an earnings conference call to review these results and business updates.
Earnings Call Participants
Senior Vice President of Investor Relations Matthew Scalo opened the call, introducing President and CEO Sam Raha, Chief Financial Officer Ben Wheeler, Chief Commercial Officer Brian Donnelly, and Chief Operating Officer Mark Verratti for Q&A. Analysts from TD Cowen, Jefferies, Leerink Partners, Wells Fargo, Guggenheim, and Stephens joined the discussion.74
Financial Highlights
Total test volumes held steady at 385,000, reflecting balanced growth across segments. Operating expenses rose to $168.3 million, with adjusted operating expenses at $148.5 million. The company used $15.7 million in operating cash flow, ending the quarter with $124.4 million in cash and equivalents.75
Performance by Segment
- Cancer Care Continuum: Revenue climbed 4% to $120.2 million, driven by 13% volume growth to 96,000 tests. Hereditary cancer testing volumes surged 14%.75
- Prenatal Health: Revenue fell 15% to $41.9 million on 12% lower volumes of 153,000 tests, linked to prior order system disruptions.75
- Mental Health: GeneSight revenue jumped 24% to $38.3 million, supported by 7% volume increase to 136,000 tests and better reimbursements.75
Key Business Developments
Myriad Genetics launched its Precise Molecular Residual Disease (MRD) assay and secured FDA approval for MyChoice CDx as a companion diagnostic for Zejula in advanced ovarian cancer. Japan approved MyChoice CDx for Lynparza in prostate cancer. Data presented at AACR and SGO meetings highlighted Precise MRD’s prognostic value. Progress continues on an AI-enhanced Prolaris test, set for Q2 launch, and the FirstGene prenatal screen study.7574
Full-Year 2026 Guidance
Myriad Genetics reaffirmed its outlook: revenue of $860 million to $880 million, adjusted gross margin of 68% to 69%, and adjusted EBITDA of $37 million to $49 million. Executives anticipate sequential revenue acceleration in the second half, fueled by sales expansion and product launches.7574
Executive Commentary
Sam Raha, President and CEO, stated, “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.” He added confidence in upcoming launches driving future growth.75 Brian Donnelly, Chief Commercial Officer, noted, “The cancer care continuum portfolio continues to show solid growth and share gains, our prenatal portfolio is stabilizing with a clear catalyst ahead in FirstGene, and mental health is delivering strong performance.”74
Details appear in the Form 8-K filing and investor presentation at investor.myriad.com. The call webcast is archived there.75
