Myriad Genetics Reports Third Quarter 2026 Financial Results; Raises Mid-Point of Full-Year 2026 Revenue Guidance Following Solid Execution Definitive Agreement to Sell Prenatal Health Business to Support Strategic Growth Initiatives
Key Highlights
- ➤Q3 revenue $202.7 million, down 1% year-over-year
- ➤Labcorp to acquire Prenatal Health for $210 million cash plus inventory
- ➤FY 2026 revenue guidance raised to $780-$790 million
- ➤Q3 operating loss $39.9 million versus $23.3 million year-over-year
- ➤Prenatal Health revenue $39.3 million, down 12% year-over-year
Expert Statements
Sam Raha, President and CEO of Myriad Genetics
“We have made meaningful progress on our path to accelerate profitable growth and strengthen the company’s financial profile. Our third quarter 2026 financial results exceeded our expectations, led by our on-going focus on the Cancer Care Continuum. Average revenue per CCC test in the third quarter 2026 was higher than in the second quarter 2026 and reflects our team's ongoing work and early progress with payer engagement and revenue cycle management initiatives,”
Sam Raha, President and CEO of Myriad Genetics
“The sale of our Prenatal Health business is a decisive step to support our strategic intent to increase profitable growth by focusing on the Cancer Care Continuum including screening, treatment selection and monitoring along with remission surveillance. We expect this action to benefit healthcare providers and patients we serve, as well as our employees and shareholders, and improve Myriad's revenue growth rate, profitability, and liquidity going forward. Lastly, we are increasing the mid-point of our full-year 2026 revenue guidance modestly, as we balance the positive third quarter 2026 performance with the timing of the sale of the Prenatal Health business, which is expected to close by early 2027.”
Highlights * Third quarter 2026 revenue was $202.7 million, representing a 6% sequential increase and a 1% decrease year-over-year. Higher Cancer Care Continuum (CCC) product mix and continued progress on payer engagement and revenue cycle management initiatives drove total average revenue per test increases of 7% sequentially and 1% year-over-year, partially offset by total test volume declines of 1% and 2%, respectively. * On October 19, 2026, entered into a definitive agreement to sell the Prenatal Health business to Labcorp for $210 million in cash, plus the value of related inventory at closing. Upon close, the sale is expected to be accretive to revenue growth and profitability, while strengthening the balance sheet. * Raises mid-point of full-year 2026 revenue guidance to reflect third quarter 2026 results and current business trends for the remainder of 2026. SALT LAKE CITY, Nov. 04, 2026 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostic testing and precision medicine, today announced financial results for its third quarter ended September 30, 2026, and raised the mid-point of revenue guidance for the full-year 2026.
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