Myriad Genetics reported third quarter 2026 revenue of $202.7 million, missing the analyst estimate of $215.4 million. The company recorded an adjusted loss per share of $0.11, falling short of the projected $0.05 profit. Management announced a definitive agreement to sell its Prenatal Health business to Labcorp for $210 million to focus on the higher-growth Cancer Care Continuum and Mental Health segments. Despite the quarterly miss, the company raised the mid-point of its full-year 2026 revenue guidance.
Key Highlights
- Revenue of $202.7 million declined 1% year-over-year, impacted by an 11% volume drop in the now-divested Prenatal Health unit.
- GeneSight test volume grew to 141,000, exceeding the 135,500 estimate, driven by continued expansion in the pharmacogenomics market.
- Cancer Care Continuum revenue reached $123.9 million, with average revenue per hereditary cancer test improving 9% sequentially.
- Raised full-year 2026 revenue guidance to a range of $780 million to $790 million, reflecting strong execution in core remaining segments.