Myriad Genetics reports Q2 2026 revenue decline, launches efficiency initiative, cuts guidance
Myriad Genetics posted an 11% year-over-year revenue drop to $190.7 million and revised its full-year 2026 guidance while advancing several diagnostic programs.
Myriad Genetics announced second quarter 2026 financial results on July 30, 2026, reporting revenue of $190.7 million, down 11% year-over-year, reflecting a 1% decline in volume and a 9% decrease in average revenue per test.1
On the pipeline side, the company said it launched Prolaris + AI, its first AI-enabled prostate cancer test, in partnership with PATHOMIQ.1 It also expanded availability of Precise MRD, broadening availability to patients undergoing treatment and surveillance for breast, colorectal and renal cancers.1 In July 2026, Myriad submitted a request to the Molecular Diagnostics Program (MolDX), administered by Palmetto GBA, a Medicare Administrative Contractor for CMS, for a Local Coverage Determination to establish Medicare coverage of its Precise MRD test for breast cancer patients.1
In prenatal health, the company said 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.1 Separately, in July 2026 Myriad launched the FirstGene Multiple Prenatal Screen, which includes four prenatal genetic screens from a single draw of blood as early as eight weeks gestation.1
On strategy, CEO Sam Raha said the company is advancing work on a strategic review with the intention to identify initiatives to increase growth, profitability, and liquidity, has activated an initiative called Ascend to increase organizational efficiency, effectivity and scalability supported by a leading professional services firm, and is doing a rigorous evaluation of its product portfolio to determine the optimal allocation of capital and enhancement of shareholder value.1
The company is suspending its previous full-year 2026 Adjusted EBITDA guidance and is providing full-year 2026 financial guidance only with respect to Revenue and Adjusted Gross Margin %.1 Revised guidance calls for revenue of $770 to $790 million, revised lower to reflect Q2 results and current business trends.1 As of quarter end, Myriad reported cash and cash equivalents of $115.2 million.1
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