Myriad Q2 revenue misses estimates, cuts 2026 revenue outlook

Myriad Genetics

30/07/2026 21:27

Overview
US molecular diagnostics firm's Q2 revenue fell 11% yr/yr, missing analyst expectations
Adjusted EPS for Q2 turned to a loss, missing analyst expectations
Company cut 2026 revenue guidance due to lower test volumes and pricing pressure

Outlook
Myriad Genetics sees full-year 2026 revenue between $770 mln and $790 mln
Company expects 2026 adjusted gross margin of 66% to 67%
Company suspends previous full-year 2026 adjusted EBITDA guidance

Result Drivers
PAYER FRICTION - Co said increased payer friction and changes in cash collection estimates reduced average revenue per test and pressured hereditary cancer testing revenue
PRENATAL HEALTH WEAKNESS - Prenatal Health revenue declined 16% yr/yr due to a 9% drop in test volumes and lower pricing
HIGHER OPERATING COSTS - Expanded commercial team and strategic investments increased adjusted operating expenses, adding pressure to bottom line

Company press release: ID:nGNX3JtdpC

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$190.70 mln
$206.03 mln (9 Analysts)
Q2 Gross Margin
 
66.60%
 
Q2 Adjusted Operating Expenses
 
$150.50 mln
 
Q2 Operating Expenses
 
$165.90 mln
 
Q2 Operating Income
 
-$38.90 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."
Wall Street's median 12-month price target for Myriad Genetics Inc is $6.00, about 19% above its July 29 closing price of $5.04
The stock recently traded at 47 times the next 12-month earnings vs. a P/E of 63 three months ago

Reuters Recommended Reads
July 28 - NeoGenomics Q2 revenue beats estimates, raises outlook
July 27 - OPKO Health Q2 loss narrows on higher IP revenue, lower costs
July 29 - GE HealthCare tops quarterly estimates, weighs patient care unit sale

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)