Key Highlights

  • Myriad Genetics (NASDAQ:MYGN) reported third-quarter Revenue of USD 202.7 million, up 6% from the second quarter and down 1% from USD 205.7 million a year earlier, as higher revenue per test offset lower volume.
  • The company agreed on October 19, 2026 to sell its Prenatal Health Business to Labcorp for USD 210 million in cash plus inventory value at closing, with completion expected by early 2027.
  • The net loss was USD 43.9 million, or USD 0.46 per share, compared with a loss of USD 27.4 million, or USD 0.29, in the prior-year quarter; the operating loss widened to USD 39.9 million.
  • Full-year 2026 revenue guidance is USD 780 million to USD 790 million, with the mid-point raised, while cash and equivalents fell to USD 107.1 million from USD 149.6 million at year-end 2025.

Quarter Shows Mix Gains but Wider Losses

Myriad Genetics (NASDAQ:MYGN), a molecular diagnostic and precision medicine company, reported third-quarter 2026 results on November 4, 2026. Revenue of USD 202.7 million slipped 1% year over year, yet average revenue per test rose 1% from a year ago and 7% from the second quarter as the Cancer Care Continuum mix improved. Total test Volume fell 2% to 377,000. Gross Margin was 67.9%, down 200 basis points on lower volumes and added laboratory staffing. Operating expenses rose to USD 177.6 million from USD 167.1 million, and adjusted operating expenses climbed USD 9.9 million to USD 149.9 million.

Prenatal Divestiture Reshapes the Revenue Base

The Prenatal Health unit, which includes the Prequel, Foresight, SneakPeek and FirstGene tests, produced USD 39.3 million of revenue in the quarter, down 12%, with volume down 11% to 138,000 tests. By contrast, Cancer Care Continuum and Mental Health volume rose 3% to 239,000 tests, and their combined revenue of USD 163.4 million rose 1%. Management said the sale should be accretive to revenue growth and profitability and strengthen the Balance Sheet once it closes, subject to regulatory approvals and customary conditions. The guidance now separates the businesses: USD 620 million to USD 630 million for Cancer Care Continuum and Mental Health, and about USD 160 million for Prenatal Health. Adjusted gross margin is expected at 66% to 67% for the year.

Cash, Debt and Guidance Detail for Myriad Genetics (NASDAQ:MYGN)

Cash used in operations was USD 6.5 million, while adjusted Operating Cash Flow was positive USD 3.7 million and adjusted free cash flow was USD 1.6 million after USD 2.1 million of Capital spending. Cash and equivalents stood at USD 107.1 million against long-term debt of USD 121.1 million. For the nine months, revenue was USD 593.8 million versus USD 614.7 million, and the net loss narrowed to USD 121.2 million from USD 358.0 million, because the prior-year period carried a USD 316.7 million Impairment charge. The release does not give the prior guidance range or a consensus figure, so the size of the mid-point raise is not stated here. The mid-point of the current range is USD 785 million, calculated.

Where Things Stand

Myriad Genetics is selling the Prenatal Health unit because that business is shrinking while the Cancer Care Continuum and Mental Health businesses are growing, and management wants to focus on cancer care and add liquidity. Myriad Genetics (NASDAQ:MYGN) still lost money, and cash is lower, so the sale proceeds matter. Key markers are regulatory approvals, the expected early 2027 close, gross margin against the 66% to 67% adjusted range, and whether payer engagement keeps lifting revenue per test. The release gives no price move.