olivLaw · US equity research
Myriad Genetics, Inc. MYGN
In Vitro & In Vivo Diagnostic Substances · SIC 2835 · Vertical: In Vitro & In Vivo Diagnostic Substances (SIC 2835)
Myriad Genetics is a molecular diagnostics and precision medicine company that develops genetic tests for oncology, women's health and mental health. In 2026 the company is going through a difficult period: quarterly revenue is falling and full-year guidance has been lowered.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Myriad Genetics, Inc. (MYGN) stock was 6.02 USD (−0.33% on the day), with market capitalisation 575.8 m USD, beta 1.15, 52-week range 2.86–7.91 USD. Latest reported quarter (Q2 2026): revenue of 190.7 m USD (−10.5% YoY), net income of -43.2 m USD, diluted EPS -0.46 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 63.4
- strong (55–70)
- Bollinger (20, 2)
- 3.39 – 7.21
- in the upper half of the band · %B 0.69 · band width 72.1%
- SMA 50 / 200
- 4.38 / 4.61
- mixed trend
- MACD (12, 26, 9)
- 0.56 / 0.53
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +31.4% | −1.1% | +32.5 pp | — |
| 3 months | +91.1% | −0.5% | +91.6 pp | — |
| 6 months | +46.5% | +4.4% | +42.1 pp | — |
| Year to date | −2.1% | +12.3% | −14.4 pp | — |
| 1 year | −6.8% | +13.5% | −20.4 pp | −26.8% |
| 3 years | −64.6% | +76.4% | −141.0 pp | −44.4% |
| 5 years | −80.4% | +63.7% | −144.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 213.3 m | 210.6 m | 195.9 m | 213.1 m | 205.7 m | 209.8 m | 200.4 m | 190.7 m |
| Cost of revenue | 63.5 m | 59.7 m | 61.7 m | 61.3 m | 61.9 m | 63.0 m | 62.8 m | 63.7 m |
| Gross profit | 149.8 m | 150.9 m | 134.2 m | 151.8 m | 143.8 m | 146.8 m | 137.6 m | 127.0 m |
| Research & development | 28.5 m | 32.2 m | 27.5 m | 25.6 m | 28.2 m | 25.5 m | 27.1 m | 25.0 m |
| SG&A | 139.1 m | — | — | — | — | — | — | — |
| Operating income | -20.0 m | -39.0 m | -29.0 m | -329.2 m | -23.3 m | -5.7 m | -30.7 m | -38.9 m |
| Depreciation & amortisation | 15.6 m ≈ | 14.8 m | 14.4 m | 14.1 m ≈ | 12.6 m ≈ | 12.6 m | 12.5 m | 12.5 m ≈ |
| Interest expense | 800.0 k | 700.0 k | 800.0 k | 1.5 m | 3.8 m | 4.4 m | 4.1 m | 4.1 m |
| Pre-tax income | -21.2 m | -39.1 m | -29.4 m | -330.6 m | -26.2 m | -8.9 m | -34.1 m | -42.6 m |
| Income tax | 900.0 k | 3.4 m | -29.3 m | -100.0 k | 1.2 m | -1.0 m | 0 | 600.0 k |
| Net income | -22.1 m | -42.5 m | -100.0 k | -330.5 m | -27.4 m | -7.9 m | -34.1 m | -43.2 m |
| Diluted EPS | -0.24 | -0.47 ≈ | 0.00 | -3.57 | -0.29 | -0.08 ≈ | -0.36 | -0.46 |
| Operating cash flow | 700.0 k ≈ | 6.6 m | -16.3 m | -13.6 m ≈ | 21.1 m ≈ | 10.6 m | -15.7 m | -8.3 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 743.7 m | 851.1 m | 557.1 m | 690.6 m | 678.4 m | 753.2 m | 837.6 m | 824.5 m |
| Revenue YoY | −3.6% | +14.4% | −34.5% | +24.0% | −1.8% | +11.0% | +11.2% | −1.6% |
| Net income | 133.3 m | 4.6 m | -223.6 m | -27.2 m | -112.0 m | -263.3 m | -127.3 m | -365.9 m |
| Net income YoY | +666.1% | −96.5% | −4,960.9% | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | 1.85 | 0.06 | -2.99 | -0.35 | -1.39 | -3.18 | -1.41 | -3.95 |
| Diluted EPS YoY | +640.0% | −96.8% | −5,083.3% | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | 17.9% | 0.5% | -40.1% | -3.9% | -16.5% | -35.0% | -15.2% | -44.4% |
| Free cash flow | 107.5 m | 75.1 m | 50.5 m | 600.0 k | -151.6 m | unavailable | unavailable | unavailable |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 149.6 m USD
- Financial debt
- 119.9 m USD
- Net debt
- -29.7 m USD
- Equity
- 368.0 m USD
- Total assets
- 706.6 m USD
- Debt / equity
- 0.33x
- Current ratio
- 2.49x
- ROE
- -68.5%
- ROA
- -42.2%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 557.1 m | 690.6 m | 678.4 m | 753.2 m | 837.6 m | 824.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Cost of revenue | — | — | 202.0 m | 236.2 m | 252.2 m | 247.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Gross profit | — | — | 476.4 m | 517.0 m | 585.4 m | 576.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Research & development | 73.3 m | 81.9 m | 85.4 m | 88.7 m | 113.4 m | 106.8 m | SEC (XBRL)· 24 Feb 2026verified |
| SG&A | 496.9 m | 537.8 m | 514.7 m | 572.9 m | — | — | SEC (XBRL)· 28 Feb 2024verified |
| Operating income | -289.7 m | -190.5 m | -140.6 m | -257.4 m | -123.5 m | -387.2 m | SEC (XBRL)· 24 Feb 2026verified |
| Depreciation & amortisation | 72.0 m | 62.8 m | 52.7 m | 61.9 m | 61.2 m | 53.7 m | SEC (XBRL)· 24 Feb 2026verified |
| EBITDA | -217.7 m ≈ | -127.7 m ≈ | -87.9 m ≈ | -195.5 m ≈ | -62.3 m ≈ | -333.5 m ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Interest expense | 11.2 m | 6.6 m | 3.2 m | 2.9 m | 2.8 m | 10.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Pre-tax income | -283.6 m | -57.1 m | -140.6 m | -262.2 m | -123.5 m | -395.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Income tax | -59.9 m | -29.9 m | -28.6 m | 1.1 m | 3.8 m | -29.2 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | -223.6 m | -27.2 m | -112.0 m | -263.3 m | -127.3 m | -365.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | -2.99 | -0.35 | -1.39 | -3.18 | -1.41 | -3.95 | SEC (XBRL)· 24 Feb 2026verified |
| Weighted average diluted shares | 74.8 m | 78.0 m | 80.6 m | 82.8 m | 90.6 m | 92.6 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 117.0 m | 257.4 m | 56.9 m | 132.1 m | 102.4 m | 149.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Receivables | 89.5 m | 91.3 m | 101.6 m | 114.3 m | 121.2 m | 115.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Inventories | 27.1 m | 15.3 m | 20.1 m | 22.0 m | 27.5 m | 30.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Current assets | 389.4 m | 484.8 m | 274.6 m | 313.6 m | 298.0 m | 332.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Property, plant & equipment, net | 40.7 m | 43.5 m | 83.4 m | 119.0 m | 117.4 m | 114.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Goodwill | 329.2 m | 239.2 m | 286.8 m | 287.4 m | 286.3 m | 51.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Intangibles (excl. goodwill) | 576.5 m | 404.1 m | 379.7 m | 349.5 m | 262.4 m | 153.4 m | SEC (XBRL)· 24 Feb 2026verified |
| Total assets | 1.4 bn | 1.3 bn | 1.2 bn | 1.1 bn | 1.0 bn | 706.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Accounts payable | 20.5 m | 29.6 m | 28.8 m | 25.8 m | 32.3 m | 30.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Short-term debt | 0 | — | — | — | 0 | — | SEC (XBRL)· 06 Aug 2025verified |
| Long-term debt | 224.8 m | 0 | 0 | 38.5 m | 39.6 m | 119.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Current liabilities | 145.9 m | 204.3 m | 137.2 m | 155.9 m | 164.1 m | 133.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Total liabilities | 537.8 m | 352.9 m | 312.9 m | 363.3 m | 326.5 m | 338.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 881.0 m | 967.8 m | 885.8 m | 783.2 m † | 701.1 m † | 368.0 m † | SEC (XBRL)· 24 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 60.7 m | 18.6 m | -106.3 m | -110.9 m | -8.7 m | 1.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Capex | 10.2 m | 18.0 m | 45.3 m | — | — | — | SEC (XBRL)· 01 Mar 2023verified |
| Free cash flow | 50.5 m ≈ | 600.0 k ≈ | -151.6 m ≈ | — | — | — | SEC (XBRL)· 01 Mar 2023derived |
| Investing cash flow | 19.3 m | 274.4 m | -77.5 m | 31.9 m | -11.9 m | -27.4 m | SEC (XBRL)· 24 Feb 2026verified |
| Financing cash flow | -10.0 m | -150.6 m | -8.0 m | 152.9 m | -7.4 m | 64.2 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | 0 | 0 | — | — | — | — | SEC (XBRL)· 25 Feb 2022verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 35.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 575.8 m USD
Key indicators
Coverage and freshness
Score by group
35% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -24.3% | 0 (vs peers) | 29% |
| Net margin · Quality | -14.0% | 67 (vs peers) | 18% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 6.7% | 56 (on a fixed band) | 24% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -6.0x | 0 (on a fixed band) | 18% |
| Current ratio · Balance sheet | 2.2x | 100 (on a fixed band) | 12% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partial56/100 · 1/2 factors with a value
- Quality25/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
MYRIAD GENETICS, INC. (MYGN). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 824.5 m USD in 2025; YoY growth -1.6%; net margin -14.0%; ROE -32.5%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.2x
What contradicts it
- ROIC: -24.3%
- Interest coverage: -6.0x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
In Vitro & In Vivo Diagnostic Substances (SIC 2835) · same industry (4-digit SIC) · compared with 17 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| IDXXIdexx Laboratories Inc | 55.0 bn | 47.1 | 68.9% | 25.4% | +10.4% | −7% / +50% |
| LNTHLantheus Holdings, Inc. | 6.6 bn | 24.5 | 22.2% | 17.7% | +0.5% | +72% / +41% |
| NEOGNeogen Corporation | 2.7 bn | — | -2.7% | -6.3% | −2.7% | +108% / −27% |
| TRIBTrinity Biotech PLC | 2.4 bn | — | — | -51.6% | +8.3% | −80% / −91% |
| CLDXCelldex Therapeutics, Inc. | 2.4 bn | — | -43.9% | -190,220.9% | −78.0% | +11% / −1% |
| NTLAIntellia Therapeutics, Inc. | 1.7 bn | — | -6,424.8% | -672.2% | +16.9% | +37% / −58% |
| QDELQuidelortho Corp | 984.6 m | — | -19.3% | -14.2% | −1.9% | −48% / −79% |
| ACHVAchieve Life Sciences, Inc. | 718.3 m | — | -845.0% | — | unavailable | +43% / +21% |
| MYGNMyriad Genetics, Inc. | 575.8 m | — | -32.5% | -14.0% | −1.6% | −7% / −65% |
| TKNOAlpha Teknova, Inc. | 395.7 m | — | -24.2% | -38.4% | +7.4% | +57% / +261% |
| ICCCImmuCell Corporation | 94.2 m | 138.2 | 2.6% | 2.6% | +4.3% | +114% / +128% |
| IMDXInsight Molecular Diagnostics Inc. | 86.7 m | — | — | -2,955.6% | +115.6% | −57% / −30% |
| BMRABiomerica, Inc. | 8.0 m | — | -113.8% | -115.5% | −16.2% | −27% / −77% |
| CDIOCardio Diagnostics Holdings, Inc. | 4.9 m | — | -75.4% | -44,771.8% | −57.5% | −43% / −97% |
| QCLSQ/C Technologies, Inc. | 3.2 m | — | -155.0% | — | −5.3% | −89% / −100% |
| VNRXVolitionRx Limited | 2.8 m | — | — | -1,043.1% | +40.0% | −97% / −99% |
| VRAXVirax Biolabs Group Ltd | 695.1 k | — | -109.6% | -95,739.2% | −96.0% | −88% / −98% |
| NNNNAnbio Biotechnology | — | 25.0 | 27.0% | 74.1% | +5.6% | −84% / unavailable |
1- and 3-year price returns: for MYGN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 8-K (04 Nov 2026 · results).
In brief
Myriad Genetics is a molecular diagnostics and precision medicine company that develops genetic tests for oncology, women's health and mental health. In 2026 the company is going through a difficult period: quarterly revenue is falling and full-year guidance has been lowered 3.
SWOT
Strengths
- The company has a solid reputation for quality tests and an extensive commercial presence in community medicine.
- The oncology portfolio, including an FDA-approved companion diagnostic, gives it a leading position in several segments.
- The company built modern laboratory infrastructure, completed in 2025, that supports automation.
Weaknesses
- The company has not been profitable in recent years, and losses remain significant.
- Dependence on payer reimbursement makes revenue vulnerable to coverage changes.
- Personnel and commercial costs have risen, and gross margin declined in 2026.
Opportunities
- Extending MRD to new cancer types and obtaining coverage for breast cancer could open a new revenue source.
- Partnerships with pharmaceutical companies can bring companion diagnostic services and new biomarker development.
- The FirstGene launch could expand the prenatal segment if the clinical study confirms its results.
Threats
- Payer pressure on reimbursement can reduce average revenue per test and slow growth.
- Competition from new or cheaper tests could reduce market share.
- Regulatory changes by the FDA for laboratory tests may bring delays and additional costs.
Risks
- Reimbursement and payer coveragehigh
Revenue depends on decisions by public and private payers. A reduction in coverage could directly reduce collections per test.
- Continued net losseshigh
The company reported net losses and expects to keep incurring them, which may require additional financing.
- Liquidity and credit covenantsmedium
The debt is subject to financial restrictions. If these are not met, the liquidity position could become critical.
- Declining prenatal volumemedium
The fall in prenatal volume in 2026 weighed on annual guidance and could continue if new launches do not compensate.
- Litigation and data securitylow
The company has faced securities class actions and could be exposed to cybersecurity incidents affecting its reputation.
Investment thesis
What would need to be true (bull case)
- If MRD and Prolaris + AI obtain payer coverage, the oncology segment could become the long-term growth engine.
- Total test volume has remained relatively stable, suggesting sustained demand despite pressure on pricing.
- A high gross margin and investment in modern laboratories could support profitability if efficiency improves.
What would break the thesis
- Full-year 2026 revenue guidance was lowered and quarterly revenue fell sharply, which points to structural issues.
- The company continues to post losses and its liquidity is limited, which could force operational cutbacks.
- Payer pressure on pricing could persist, and coverage for new tests could be delayed.
What to watch
- Quarterly results and the trend in average revenue per testQ3 2026
- MolDX decision on Precise MRD coverage for breast cancer2026
- Results of the CONNECTOR study and the success of the FirstGene launch2027
- Results of the efficiency initiative and guidance for 2027next 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 8-K (04 Nov 2026 · results).
The business
Myriad Genetics is a molecular diagnostics and precision medicine company that develops and commercializes molecular tests assessing the risk of disease, its progression and treatment decisions 1. Activity is organized across three areas: oncology, women's health (including prenatal) and mental health. Revenue for fiscal 2025 was 824.5 million USD, with a net loss of 365.9 million USD 1.
The strategy focuses on the Cancer Care Continuum market, growing Prenatal Health and Mental Health revenue at or above market growth, and delivering profitable growth through financial and operational discipline 1. The company also works with biopharma partners on companion diagnostics and AI-enabled tests such as Prolaris + AI 12.
In July 2026 the company engaged a professional services firm for efficiency and scalability initiatives, and is evaluating its product portfolio to allocate capital optimally 3. These are signs that strategy is being adjusted after a weak quarter.
Segments
Cancer Care Continuum
The oncology segment includes hereditary tests such as MyRisk, companion diagnostics such as BRACAnalysis CDx and MyChoice CDx, and Precise MRD for circulating tumor DNA monitoring. Q2 2026 revenue was 114.1 million USD, with volume up 6% 3.
Prenatal Health
Includes Foresight, Prequel, FirstGene and SneakPeek. Q2 2026 revenue was 39.8 million USD, down 16% on lower volume 3. The July 2026 launch of FirstGene aims to broaden the prenatal portfolio 3.
Mental Health
The segment consists of the GeneSight test, which helps select psychotropic medications based on genetics. Q2 2026 revenue was 36.8 million USD, with lower average revenue per test partly offset by volume 3.
Market context
The US molecular diagnostics and precision medicine market is large, with cancer remaining one of the most prevalent diseases and more than two million new cases diagnosed in 2025 1. The company sees MRD and expanded genomic testing as growth opportunities, but the market depends on payer reimbursement decisions.
Reimbursement remains the decisive factor: the loss of GeneSight coverage by a large insurer reduced revenue per test in 2025 1, and payer pressure on average revenue per test continued in 2026 3. A slow pace of coverage decisions could delay growth in new segments.
Trends
- MRD testing and ctDNA monitoringtailwind
Precise MRD is expanding to colorectal and renal cancers and was submitted for coverage to MolDX for breast cancer 3. If payers accept the test, the oncology segment could become an important driver.
- Payer pressure on reimbursementheadwind
The company mentions growing friction with payers and adjustments to collection estimates that reduced average revenue per test 3. This is the most important negative factor for revenue.
- Artificial intelligence in diagnosticsmixed
The partnership with PATHOMIQ brought Prolaris + AI, a prognostic test for prostate cancer 13. The opportunity depends on clinical adoption and payer coverage.
- Declining prenatal testing volumeheadwind
Prenatal volume fell in both 2025 and 2026, and in Q2 2026 the decline was 9% 13. The FirstGene launch could offset this if the CONNECTOR study confirms its results.
Competitive position
The genetic testing market is competitive, and the company notes competition from new and competing tests that could replace its existing products 1. The risk is heightened because most tests are used only once per patient.
The company operates in a market where speed of launch and clinical evidence are decisive. Partnerships with software companies and other laboratories, such as SOPHiA GENETICS, can influence its competitive position 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Billionaire tax divides California Democrats, draws myriad questionsThe Hill · 01 Nov 2026 · EN
- Final Frontier and Myriad unite behind €100M defence tech fundTech.eu · 21 Sept 2026 · EN
- Graham’s death complicates myriad GOP goals in CongressCNBC World · 12 Jul 2026 · EN
- Indonesian commodity exporters flag myriad hurdles in state monopoly pushNikkei Asia · 22 May 2026 · RO
The latest news item in our archive is from 01 Nov 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report04 Nov 2026Results of operations · Financial statements and exhibits
- Current report20 Oct 2026Material agreement · Regulation FD disclosure · Financial statements and exhibits
- Current report09 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report16 Sept 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report31 Jul 2026
- Current report30 Jul 2026Results of operations · Financial statements and exhibits
- Current report23 Jun 2026Departure or appointment of officers
- Current report04 Jun 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report06 May 2026
- Current report05 May 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Myriad Genetics, Inc. · 24 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Myriad Genetics, Inc. · 31 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Myriad Genetics, Inc. · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.