Myriad Sets 2026 Revenue Guidance at $780 Million to $790 Million

The Tip Desk · November 11, 2026 · 3 min read

Third-quarter revenue was $202.7 million, up 6% sequentially, as average revenue per test rose 7% from the second quarter.

Myriad Genetics, Inc. (MYGN), a molecular diagnostic testing company, reported third-quarter 2026 revenue of $202.7 million, a 6% sequential increase and a 1% decrease from a year earlier, and set full-year 2026 revenue guidance at a range of $780 million to $790 million.

The sequential rebound followed a second quarter in which revenue of $190.7 million had fallen 11% year-over-year on a 9% drop in average revenue per test, including an $11.0 million reduction from revised cash-collection estimates. In the third quarter, average revenue per test rose 7% sequentially and 1% year-over-year, which the company attributed to a higher Cancer Care Continuum product mix and progress on payer engagement and revenue cycle management, partially offset by total test-volume declines of 1% sequentially and 2% year-over-year.

President and CEO Sam Raha said third-quarter results exceeded the company’s expectations, led by the Cancer Care Continuum, and that average revenue per CCC test was higher than in the second quarter.

Cancer Care Continuum and Mental Health test volume increased 3% year-over-year to 239,000 tests. Cancer Care Continuum revenue was $123.9 million, up 1% from a year earlier. Mental Health revenue was $39.5 million, up 2%. Prenatal Health volume decreased 11% to 138,000 tests and Prenatal Health revenue was $39.3 million, down 12%.

Hereditary cancer testing revenue decreased 1% year-over-year due to lower reimbursement levels, partially offset by a 6% year-over-year volume increase. Average revenue per hereditary cancer test improved 9% over the second quarter, which the company tied to early progress with revenue cycle initiatives. GeneSight revenue of $39.5 million increased 2% on 3% volume growth, partially offset by a 1% year-over-year decline in average revenue per test.

Gross margin was 67.9%, down 200 basis points from the third quarter of 2025, reflecting lower overall test volumes and incremental investments in laboratory personnel. Operating expenses were $177.6 million. Adjusted operating expenses increased $9.9 million year-over-year to $149.9 million. Operating loss was $39.9 million. Cash and cash equivalents were $107.1 million at quarter-end.

On October 19, 2026, Myriad entered a definitive agreement to sell the Prenatal Health business, including Prequel, Foresight, SneakPeek and FirstGene, to Labcorp for $210 million in cash plus the value of related inventory at closing. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close by early 2027. The company said the sale is expected to be accretive to revenue growth and profitability and to strengthen the balance sheet.

Myriad provided full-year 2026 revenue guidance of $780 million to $790 million, reflecting third-quarter results and current business trends. It also provided Cancer Care Continuum and Mental Health revenue guidance of $620 million to $630 million and Prenatal Health revenue of about $160 million. Adjusted gross margin is expected at 66% to 67%. Raha said the guidance balances positive third-quarter performance with the timing of the Prenatal Health sale.